Aug 29, 2019
Today we have with us Robert Sedaghatpour, the principal and managing member of STRATCO Property Group, who among the vast array of real estate talents and skill sets he possesses, and services his company provides to the real estate industry, is someone who seemingly has made the classic song “Why Can’t We Be Friends?” his business mantra. This is evidenced by STRATCO functioning as an intermediary between property owners and tenants by re-creating a community established on harmony, respect, transparency and trust when it comes to navigating the dynamics involved in managing a building, rent regulatory laws and bridging the gap of opposing goals between a landlord and tenant.
At 2:35, Robert Sedaghatpour discusses the sticker shock effect of the Housing Stability and Tenant Protection Act of 2019 (the “Act”), and accepting this black swan event as the new reality. At 3:46, Robert advises that one should not focus on this act being reversed. At 4:57, Sedaghatpour describes the impact of the new act on owners in the multifamily sector. At 7:34, he dives into NYC’s economy, given that NYC’s budget was drafted before the Act was enacted. At 9:41, Robert mentions that the Act has been brewing for years, and talks about “tenant Tuesdays” in Albany. At 14:50, Sedaghatpour touches upon the unforeseen risks to those owners who don’t have a business plan to meaningfully raise their rents. At 17:20, he touches upon tenant collaboration and creating unity between landlords and tenants. At 19:26, Robert plays a word association game with Larry Haber. At 25:09, Sedaghatpour provides his take on whether the Act is everlastingly sustainable. At 26:12, he suggests that there may be a flood of deals coming back into the market with major discounts. At 27:16, Robert talks about market timing, diligence and underwriting. At 29:12, Sedaghatpour shares how STRATCO adds value in a deal with its understanding of the history of business culture, and its diligence on regulatory history and lease files. At 30:07, he dishes on what truly gets his motor revving in business or on a deal. At 32:09, Robert Sedaghatpour closes out the podcast with a message on change creating opportunities.