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The Gold Collar Investor

May 4, 2020

In today’s show, Pancham interviews Gurwinder Singh, real estate developer and investor from NYC.

Gurwinder, a former Goldman Sachs employee does grounds up development projects in NYC – perhaps the most challenging market in the world.  Is it worth doing grounds-up development in NYC inspite of all the challenges? The short answer is yes! 

In today’s show, Gurwinder gives listeners a peek into the entire construction process – right from planning to closeout. He explains how he evaluates the feasibility of a project, and then goes on to reveal the kind of returns that investors can earn from these projects.

If you are looking for some good alternatives to Wall Street investing, this show will interest you greatly. Tune in now

Timestamped Shownotes:

  • 00:53 – How did Pancham meet Gurwinder?
  • 02:00 – Gurwinder’s background information
  • 03:00 – How and why did Gurwinder get into real estate investing?
  • 05:49 – Was it difficult for Gurwinder to transition from software development to real estate?
  • 07:30 – How does grounds- up development work? Gurwinder gives us a 30,000-foot view
  • 08:36 – Is there vacant land available in NYC for grounds-up development?
  • 09:23 – What are air rights? How do air rights affect the feasibility of a project?
  • 11:22 – Important factors to consider while evaluating project feasibility
  • 12:12 – Understanding “Floor-Area Ratio” in simple terms
  • 13:12 – Gurwinder explains how he conducts a “highest and best case use analysis”
  • 14:12 – What is the purpose of doing a site survey?
  • 16:45 – Process and Timeframe for preparing site plans and getting them approved
  • 18:10 – What is typical time-frame to get construction started?
  • 20:15 – Gurwinder shares how his years of construction experience helps him manage his projects 
  • 21:38 – Considering all the challenges, is it worth investing in a grounds-up development?
  • 23:31 – Typical financing arrangement for a grounds up real estate development
  • 24:45 – As a passive investor, what sort of returns can you earn by investing in a grounds-up development? 
  • 27:18 - Taking the Leap Round
  • 27:18 - When was the first time you invested outside of Wall Street?
  • 28:07 - What fears did you have to overcome when you first invested outside Wall Street?
  • 29:03 - What was one investment that did not go as expected?
  • 30:53 - What is one piece of advice that you would give to people who are thinking of investing in the Main Street?
  •  32:00 - Gurwinder shares his contact information

3 Key Points:

  1. Different challenges of doing grounds-up development in NYC
  2. Typical returns that investors earn from a grounds-up development project
  3. How to gauge project feasibility for a grounds-up development

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