We were lucky to catch up with Robert Alexander recently and have shared our conversation below.
Hi Robert, really happy you were able to join us today and we’re looking forward to sharing your story and insights with our readers. Let’s start with the heart of it all – purpose. How did you find your purpose?
Purpose is defined as the reason something was done, it exists or why it was created. I like to think that God created me to think outside the box in all facets of life. When it comes to my Real Estate business, the purpose was one of the things I focused on defining and making sure that clients knew exactly what I was about and what I stood for. My purpose as an individual is to be the best man I can possibly be. I want people to describe me as honest, upstanding, fair, genuine, down to earth, and easy to talk to. My foundation as a company is for my clients to know that their best interest always comes first. We consistently place our clients’ preferences ahead of our own in each and every transaction, as we are dedicated to the growth of long-term relationships and, more importantly, client satisfaction. When I developed the foundation of the company it made it a lot easier to develop my purpose for my company. The people that I work for (because at the end of the day, my clients are my employees) are the most important reason for what I do. When I build homes, I create a lifestyle for a family or individual. This home has to mean something to me in order for me to make it mean something to them. People spend their lives working day and night for the dream of home ownership, only for it to be destroyed by the work of a “non-caring” contractor. As a builder/developer what I create should last a lifetime and should make an impact on the communities that I touch. I found my purpose when I realized my impact, and I realized my impact when I saw the people that it affected. That’s my purpose and that’s my why.
Thanks for sharing that. So, before we get any further into our conversation, can you tell our readers a bit about yourself and what you’re working on?
My name is Robert Alexander, I am married to my wife Samantha Alexander, and we have two wonderful children named Myles Alexander (5) and Olivia Alexander (2). A true native of Arkansas, I was born in Little Rock and grew up around some slightly rough areas. Single parent raised by my mom and living with my two older sisters, I had a fair childhood and never had a lack of friends. Even as a youth, people would say I never met a stranger. Its funny because now having children of my own, my son is the exact same way. The downtown Little Rock area where I grew up was once a pillar for high income living but took a turn in the late 80s and early 90s converting to an area of crime, gangs, and condemned properties. The idea of rehabilitating the community and returning it to its former glory always stuck with me. Truly, that is the reason I am in real estate today.
“I am a dedicated and results-driven real estate developer with a strong commitment to creating value through strategic and innovative property investments. My journey in real estate began with a deep-seated fascination for the built environment and a desire to shape communities in a positive way. Over the years, I’ve honed my skills and knowledge to become a proficient developer capable of navigating the complexities of this industry.
My primary focus as a real estate developer is threefold:
Community-Centric Development: I firmly believe that real estate development should enhance the quality of life for individuals and communities. I am dedicated to creating sustainable, inclusive, and vibrant spaces that people are proud to call home or work in. This involves meticulous research, community engagement, and a commitment to environmental sustainability.
Innovation and Adaptation: The real estate landscape is constantly evolving, and I am passionate about staying at the forefront of industry trends and emerging technologies. This adaptability allows me to identify new opportunities and optimize existing assets to maximize returns for investors and stakeholders.
Financial Excellence: Real estate development is as much about financial acumen as it is about vision and creativity. I am laser-focused on delivering profitable outcomes for my investors, while also managing risk effectively. This involves meticulous financial planning, market analysis, and project execution to ensure that every venture I undertake is a success. All while being mindful of the areas that I choose to invest in.
In addition to my commitment to these core principles, I bring a strong work ethic, attention to detail, and the ability to collaborate effectively with diverse teams of professionals. I thrive in dynamic environments where challenges are opportunities in disguise, and I relish the chance to turn a vision into reality.
Ultimately, I see myself as a forward-thinking real estate developer who strives for excellence in every project I undertake, all while keeping the best interests of communities, investors, and the environment at the forefront of my work.”
If you had to pick three qualities that are most important to develop, which three would you say matter most?
In my industry it’s very easy for beginners to get caught up in what we call analysis paralysis. That’s where we want everything to go so perfectly that we spend much of our time trying to study, strategize, plan and study again. However, no action takes place. The best thing for you or people like us to do is act, make mistakes and learn from those mistakes. Benjamin Franklin is famously quoted for saying, “I didn’t fail the test, I just found 100 ways to do it wrong.”
Three qualities and skills that I feel are crucial for a successful journey into real estate are adaptability, resilience, and a willingness to continue learning the industry. These can be both rewarding and challenging. Additionally, networking and staying up to date with industry trends and regulations has further enhanced my business.
Adaptability:
Market Changes: Real estate markets are subject to fluctuations and can change rapidly. Being adaptable means, you can adjust your strategies and tactics in response to changing market conditions. For example, you might need to pivot from residential to commercial development or explore new emerging markets when the demand shifts.
Regulatory Environment: Real estate is heavily influenced by government regulations and policies. An adaptable developer can navigate changing regulations and compliance requirements efficiently, ensuring that projects stay on track.
Technology Integration: The real estate industry is increasingly embracing technology, from property management software to smart building systems. Being open to adopting new technologies can enhance efficiency, reduce costs, and keep your properties competitive.
Resilience:
Dealing with Setbacks: Real estate projects can face various setbacks, such as construction delays, budget overruns, or unexpected market downturns. Resilience allows you to bounce back from these challenges, learn from them, and continue moving forward.
Market Volatility: The real estate market can be cyclical and subject to economic recessions or crises. Resilience helps you weather these economic storms and even identify opportunities during downturns.
Handling Rejection: In real estate, you’ll encounter rejection and negotiation challenges regularly. Resilience enables you to handle rejection gracefully, persevere through tough negotiations, and maintain a positive attitude.
Willingness to Continue Learning:
Dynamic Industry: Real estate is not a static field; it’s continually evolving. Being open to learning about new trends, technologies, and strategies can keep you competitive and innovative.
Changing Demographics: As demographics and lifestyles change, so do the preferences of tenants and buyers. Continual learning helps you understand and adapt to these shifts in demand.
Legal and Regulatory Updates: Laws and regulations related to real estate can change, affecting property transactions and development. Staying informed and continually updating your legal knowledge is crucial for compliance and risk management.
Moreover, a willingness to continue learning can lead to professional growth and opportunities for specialization within the real estate industry. It can also help you build a network of industry contacts and mentors who can provide guidance and insights as you progress in your career.
What is the number one obstacle or challenge you are currently facing and what are you doing to try to resolve or overcome this challenge?
I am going to talk about one big challenge I have and maybe others like me and that is financial challenges. With this I will discuss the 5 major issues I deal with as a small business Real Estate Developer.
Capital Requirements: Real estate investments often require a substantial amount of capital, both for the initial purchase and ongoing operational expenses. Acquiring properties, funding renovations or developments, and covering maintenance costs can strain an investor’s financial resources.
Financing Costs: Securing financing for real estate investments involves interest rates, loan origination fees, and potentially substantial down payments. High financing costs can eat into potential returns and affect the viability of a project.
Market Volatility: Real estate markets can be subject to cyclical fluctuations. Economic downturns or local market shifts can lead to declines in property values, potentially resulting in losses for investors who need to sell during a downturn.
Property Management: Owning and managing real estate properties comes with operational expenses, such as maintenance, property taxes, insurance, and property management fees. Investors must carefully budget for these ongoing costs to ensure the property remains profitable.
Tenant Turnover and Vacancy Rates: High tenant turnover or prolonged vacancy periods can disrupt cash flow and reduce rental income. Investors may face challenges in attracting and retaining quality tenants, which can impact the property’s financial performance.
Contact Info:
- Website: kustommadeproperties.com
- Instagram: rlalexander
- Facebook: KustomMade Properties, LLC
Image Credits
Jen Missouri
