Today’s guest is passionately committed to the betterment and development of Cincinnati, sitting on numerous boards and working with developers, investors, bankers, government officials and corporations. JR Foster is the co-founder of Robert Louis Companies, one of the only minority-owned certified full-service commercial real estate brokerage and capital markets firms in the country. He seamlessly navigates the private, public and non-profit sectors to stay at the forefront of changing neighborhoods and development opportunities. Find out what he sees in his target market and how you can implement his strategies and techniques on this episode of Target Market Insights.
Key Market Insights:
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Studied economics as an undergraduate and had early career opportunities at a commercial real estate brokerage and in investment banking
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Capitalizing on a void in commercial real estate to help organizations meet their minority-based vendor goals through their 3rd largest expense
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Robert Louis Group is one of the only Minority Business Enterprises in the country that offers a full suite of services: Brokerage, Capital Markets (Commercial Mortgage banking), and Facilities Management
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RLG has just rolled out an On-Demand Maintenance Service for homeowners, investors, retail, restaurants, and hotels in July 2017 (currently available in Cincinnati, Chicago, and Phoenix)
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Major areas of development in Cincinnati: Over the Rhine (OTR), Walnut Hills, Madisonville, West End, Avondale, Evanston
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Some investors look to rehab historic buildings abandoned for decades, improving properties and raising depressed rents
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Resources for market trends and growth in Cincinnati: Port Authority, Redi (via Cincinnati Chamber of Commerce), special interest groups in each area/neighborhood (e.g. economic development groups), noticing where government is investing via TIF funding
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Who does JR connect with to stay on top of market changes? Government officials, early stage developers, Banking professionals, and Corporations (who’s moving in and where)
Tweet This:
“Minorities make up less than 0.0001% of any position in large commercial real estate banking.” – @MrJRFoster
“Look for neighborhoods that have been identified for TIF funding.” – @MrJRFoster
Resources Mentioned:
Redi – http://www.redicincinnati.com/
CityLink – https://citylinkcenter.org/about-us
Changing Gears – https://www.changing-gears.org/
Places to Grab a Bite in Cincinnati:
Zip’s Café – http://www.zipscafe.com/
Just Q’in – http://www.justqin.com/
Boca – http://bocacincinnati.com/
Connect with JR:
Website: http://www.robertlouisgroup.com/
Email: jr.foster@robertlouisgroup.com
Twitter: www.twitter.com/MrJRFoster