Robert Leonard (@therobertleonard) talks with Robert Levy and Phillip Block about being a contrarian in the real estate investing industry by investing in retail-focused properties. Rob Levy is one of the Managing Partners of LBX Investments, a multi-strategy contrarian real estate investor, with $250mm in AUM. Prior to launching LBX in February, 2018, Rob co-founded and ran Big V Capital (“BVC”), a partnership with a family office investing in neighborhood and community shopping centers. While at BVC he oversaw and underwrote the partnership’s 11 Southeastern U.S. shopping center acquisitions and managed all capital raising (both debt and equity) and asset management efforts. Rob was also the Chief Operating Officer of the real estate group Benefit Street Partners with over $11 billion in assets under management, and has been the Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer at multiple other firms prior to that. Phil Block is also one of the Managing Partners of LBX Investments and was with Rob at BVC prior to launching LBX together. Phil was also a Senior Managing Director at RealtyMogul.com and the VP of Corporate Finance and Capital Markets at Centerline Capital Group. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 00:51 - What it means to be a contrarian in real estate 03:28 - Why someone would invest in a poorly viewed asset class 15:47 - Whether this market is like 2009 or not 18:41 - What a REIT is and how it works 21:37 - Why buying from REITs is a good strategy 36:19 - How to determine rental comps with retail centers 40:11 - How to fund large commercial real estate deals 📌 Get your first 3 months of investment management with Titan for zero fees! https://www.titan.com/TIP ✔️ Subscribe to the Real Estate 101 show: https://open.spotify.com/show/7dnn22EWyo6MLsPaR492BM 🖊️ Access our free show notes and transcript here: https://www.theinvestorspodcast.com/real-estate-101/against-the-crowd 📖 BOOKS MENTIONED: - Thinking Fast and Slow by Daniel Kahneman: https://amzn.to/3hdaCth - The Everything Guide to House Hacking by Robert Leonard: https://amzn.to/3GNLlkL - The Millionaire Real Estate Investor by Gary Keller: https://amzn.to/2q7X3nS Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀 ▶️ RELATED EPISODES: - From Small Portfolio To Full-Time Passive Syndication Investing w/ Spencer Hilligoss: https://www.theinvestorspodcast.com/real-estate-101/rei009-from-small-portfolio-to-full-time-passive-syndication-investing-with-spencer-hilligoss/ - Mastering Self-Storage & Commercial Real Estate w/ Paul Moore: https://www.theinvestorspodcast.com/real-estate-101/self-storage/ 💡 OTHER RESOURCES - Visit their website: http://lbxinvestments.com/ - Check out our Real Estate Investing Starter Packs: https://www.theinvestorspodcast.com/real-estate-investing-starter-packs/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ LISTEN 🎧 TO OTHER SHOWS FROM OUR NETWORK: ₿ If you're interested in Bitcoin, checkout our Bitcoin Fundamentals podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8wOLjjwNCM5B1qFdrtTdTZ 📚 Dive into value investing and learn more about billionaires with our We Study Billionaires podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F9dDPFYGAHRbrWoToCe2uoU 🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8Yw_8xO2nk-RD7fhb3yktn 💸 Get introduced to the world of investing with our Millennial Investing podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F_p00VYv3psJ8rhDAGOvR5W ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ FOLLOW US ON SOCIAL MEDIA📱: 💻 Facebook: https://www.facebook.com/groups/theinvestorspodcast/ 👔 Linkedin: https://www.linkedin.com/company/the-investor's-podcast/ 🐦 Twitter: https://twitter.com/TIP_Network ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📥 Download Stig & Preston's 1-page checklist for finding great stock picks: https://www.theinvestorspodcast.com/form-youtube-checklist/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.