The FORT Podcast: Andrew Segal – Founder of Boxer Property – Hybrid Work, Inflation, Hiring Overseas, 2023 Real Estate Market
In today’s episode, Chris is joined by Andrew Segal, founder of Boxer Property. Boxer Property accounts for 20 million square feet of real estate across the United States, as resort hotels, office space, retail centers, and more.
Andrew has a B.A from the University of Southern California, and attended the New York University School of Law in 1992.
Andrew is also the co-founder of Relay Human Cloud, which provides a staff hosting service to de-risk the process of onboarding overseas workers.
Andrew and Chris sit down today to discuss why hiring overseas talent is the future, why WFH doesn’t really work, and why investing in oil and gas is the future.
- Intro (00:00)
- Andrew’s Big Mac inflation theory (02:22)
- What’s going on with inflation? (05:29)
- How the office market is looking (15:29)
- How did Relay Human Cloud start? (19:49)
- The pain of hiring (25:31)
- Working across timezones (38:12)
- Why is inflation not getting higher? (59:08)
- Why Americans are becoming more like Italians (1:02:06)
- Investing in oil and gas (1:07:58)
- The truth on crypto (1:18:22)
- Episode wrap-up (1:29:02)
Andrew Segal, a prominent figure in the real estate sector, joined Chris Powers’ podcast to share his extensive insights on contemporary real estate trends. With an impressive track record, Segal’s perspectives are invaluable to both novices and veterans in the industry.
One of the primary topics discussed was the transformation of office spaces in the wake of the work-from-home trend. Segal noted the extended vacancies in office buildings but also mentioned a gradual return of tenants, indicating a potential for the traditional office environment’s resurgence. This shift isn’t just physical; the very essence of how offices function and serve employees has evolved, with less emphasis on physical equipment and more on digital infrastructure.
Segal also touched upon the enduring nature of the real estate sector. Despite the myriad of technological advancements and market shifts, the core principles of real estate operations have remained consistent. The industry’s adaptability to change is a testament to its robust nature.
Diving into market dynamics, Segal highlighted the strategic importance of asset acquisitions, particularly during specific market conditions. He emphasized the nuanced effects of inflation on real estate, pointing out the possible disparities between its short-term and long-term impacts.
Focusing on regional specifics, Segal provided an assessment of Houston’s real estate market. He underscored the importance of understanding interest rates, market discipline, and the need for strategies that resonate with current market conditions.
A significant portion of the discussion revolved around the U.S. labor market. Segal shared his views on labor arbitrage, suggesting that optimizing labor practices could lead to a more competitive business environment without necessarily causing job losses.
Lastly, Segal shared practical insights into property management, emphasizing the importance of tasks such as invoice processing, bill payments, and effective communication with tenants, especially for extensive property portfolios.
In conclusion, Andrew Segal’s appearance on Chris Powers’ podcast offered listeners a deep dive into the real estate world’s complexities. His expert reflections on various topics provided a comprehensive overview of the challenges and opportunities in the sector. For those keen on understanding the ever-evolving dynamics of real estate, this episode is a must-listen.