What I Learned From $7.2 Billion in Deals - Joshua Charles #130

Joshua Charles started at Colliers at 21 and says that by 24 he was earning more than the Prime Minister, because he was the one opening the office and coming in on Saturdays. He chose industrial deliberately, for one reason most people never think about.

Joshua Charles is the founder and managing director of One Commercial. He was the youngest director at Colliers at 28 and at CBRE at 29, and has worked in commercial property for around 30 years.

What you will learn:

- Why he picked industrial over office and retail, and the structural reason it was the safer bet

- How a vendor's agency gets appointed on a 100 million dollar asset, and why two agencies pitch

- What margin the big funds are actually working on, and what motivates a 400 million dollar buy

- Whether buying your own premises and leasing back to yourself beats renting, and when

- How he handles losing a pitch, and the reframe that lets him move on in seconds

Chapters

00:00 The rap sheet, and 7.2 billion across a career

01:31 Time in market, and choosing industrial on purpose

05:10 The six person team that set the standard

09:29 Taking a leap into deals bigger than any you have done

12:58 What technology has and has not changed in commercial

16:47 Getting appointed on a 100 million dollar asset

20:47 The biggest deal: pitching to sell an entire fund

26:06 One person in a room for a couple of months

29:32 Where the extra millions for a vendor actually come from

32:59 Timing, and the line he put at the bottom of every email

37:03 The margins the big funds are really working on

40:51 Why industrial became the asset everyone wanted

45:46 Buying your own premises and leasing back to yourself

50:25 How he handles losing a pitch

55:08 Someone else made that call. Your reaction is yours

59:35 Building rapport across twenty different funds

1:07:18 How a young agent gets access to the next level

1:11:46 Dress for the part you want

1:15:14 The two things that made the biggest difference

1:20:23 Stoicism, and sleeping better than he used to

Joshua Charles chose industrial because the income does the work. Property should work the same way.

Most properties only make money if the market does. The ones that pay for themselves from the day you settle are bought differently, and it comes down to four points.

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General information only. Not financial, tax, legal or credit advice. Bothsides is not a mortgage broker or credit provider.