Property Developer and owner of Kore Homes EJ Akeredolu talks about managing Gold (soon to be Platinum) Music Artist OG Bobby Billions and building a real estate development company from the ground up.
EJ explains how the loss of his mother at an early age motivated him to become the man he is today. He also picked up valuable lessons from his time working for Basketball Coach Kelvin Sampson at the University of Houston.
The self-made entrepreneur goes on to shed light on some important nuances related to managing and scaling real estate development projects. Obi and EJ discuss the value of professional networking and developing strong relationships with your professional team.
1:25 In life you gotta find things to keep you motivated
3:45 Music means a lot to me, Managing OG Bobby Billions
5:00 Experience working for University of Houston Basketball, lessons learned from Coach Sampson
9:25 Every dollar counts, EJ talks about managing a development project
12:20 Elements of a Financial Package and importance of keeping documents available and updated
14:15 Necessity of developing professional and personal relationships with your team
17:15 Managing and communicating with a team of contractors
19:36 Explanation of debt and equity in business financing. EJ’s plans to scale his business
21:20 Value of Networking
Key Banking Terms:
Financial Stack: A description of the totality of capital invested in a project, including pure debt, hybrid debt, and equity. The stack is described as containing the most risk at the top, traveling down the stack to the position with the least risk.
Capital Stack: The capital stack refers to the layers of capital that go into purchasing and operating a commercial real estate investment
Contingency Funds: A contingency fund is money reserved to address unforeseen financial circumstances in a business.
Property Developer EJ Akeredolu Talks Managing Music Artist OG Bobby Billions And Building A Real Estate Development Company From The Ground Up | COME CORRECT PODCAST E5
Follow Host Obi Chukwumah: @obi_empowers
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Shop Space_&_Equity Merch: https://spaceequitycorp.com/collections/all
Follow Guest EJ Akeredolu: @EJ_RealTalk
Kore Homes website: https://www.korehomestx.com/
MO3 & OG Bobby Billions- Outside(Better Days)(Official Video): https://www.youtube.com/watch?v=VT0YV-hJHzg
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