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#49 - From Builder to Developer: A Journey of Growth with Charles Covey
Manage episode 434735819 series 3511422
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In this episode, we dive into a conversation with Charles Covey, a seasoned developer and entrepreneur with deep roots in construction. Charles shares his journey from starting as a teenager framing houses in the Texas heat to building a successful construction company, managing projects worth billions, and eventually transitioning into real estate development. He emphasizes the importance of learning from mistakes and the value of relationships in his career. Charles also discusses his approach to risk, highlighting how technology and data have transformed his decision-making process. He touches on the current housing crisis, particularly in Texas, and explains his company's mission to provide affordable housing through the Build-to-Rent (BTR) model. For tech professionals and investors, Charles offers insights into the importance of diversifying investment portfolios and understanding the balance between risk and reward. This episode is packed with valuable lessons on personal growth, the intricacies of real estate development, and how to make high-quality decisions in both life and business.
Charles Covey has established himself as an expert in the construction and development industry with his vision, honed skill set and successful collaborations. With 24 years of experience, he continues to bring profitable ventures to investors throughout the state of Texas. His construction industry knowledge began humbly at the age of 16, framing houses as a carpenter. Mr. Covey completed a degree in Economics from Texas A&M University and continued to make his mark in the construction industry ever since.
Connect with Charles:
Website www.landvest-capital.com
https://charles-covey.com/
Linkedin: https://www.linkedin.com/in/charles-covey/
IG: Charlescovey
Episode Highlights:
(0:00) Intro
(1:18) Charles Covey’s background in construction and development
(3:21) Transitioning from individual contributor to business owner
(5:13) Mindset shift: from working for others to owning and developing
(10:05) Understanding the housing crisis in Texas
(15:16) American housing trends and the impact of urban sprawl
(20:39) Explaining the build-to-rent (BTR) model
(26:54) Investment strategies in real estate development
(29:56) Cash flow and returns in BTR model
(38:38) Balancing risk and reward in business decisions
(42:51) Using technology to identify opportunities
(48:04) Making high-quality decisions
(56:15) Lessons from working on a hog farm in Iowa
(58:54) The importance of integrating work and play in life
(1:02:58) Advice for new investors
(1:08:11) Outro
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- Investor 101 https://www.aritacapital.com/investor-101-resource/#
- Due Diligence Resource https://www.aritacapital.com/dd-checklist-resource/
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Email: steven@aritacapital.com
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