Michael Shah is the founder and CEO of Delshah Capital, a NYC-based private equity and asset management firm. He began his career in real estate in 2006, after working as an attorney at one of New York’s top law firms. Since then, Delshah’s assets under management have grown to almost 1 billion dollars.

In this episode, we discuss his circular entrance into the industry. After being exposed to NYC multifamily growing up, Michael had a serious formal education. He graduated with a chemistry degree from Harvard, then moved on to graduate school at the London School of Economics, and finally back to Harvard Law School, where he finished first in his class. With all that schooling, his investing career ironically began with a humble purchase of a rough building in the Bronx. The story goes on from there…

This episode is great for listeners looking for macro investing strategies: We cover the Delshah process for choosing what and when to purchase. We touch upon the retail market and its evolving opportunities, and how the NYC regulated multifamily market has shifted and what new investors should be considering. We also explore Michael’s experience in purchasing mortgages, and how that has propelled his firms’ growth. Finally, we round out with how he is using technology and various personal anecdotes, including some of his relationship advice.

In this show, we discuss:

  • The Delshah process of deciding what and when to purchase
  • The 3 levers: Asset Class, Market Cycle, & Timing
  • Looking at debt for opportunities
  • Why retail may not be as dead as people are predicting?
  • What is important to understand when purchasing a note?
  • What is the outlook on the multifamily market?
  • Why should you sell your rent stabilized apartment?
  • How is technology impacting the real estate industry?
  • How to find “real” market data?
  • Why did he look to the Israel debt markets for financing?

 

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