Marshall Boyd is Co-President and CIO of Interstate Equities Corporation (IEC), a multifamily real estate private equity firm.
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“We have about a billion dollars under management. We're a real estate private equity firm. We buy and operate apartment buildings on the West Coast of California and in the state of Washington.”
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More from Marshall Boyd
Insight
Boyd: Real estate firms are wrong to treat asset management as secondary
“Julia leads asset management and it's not normal for a co-CEO to run asset management in a real estate business. It's usually the investment folks and secondary is asset management. We believe that's wrong.”
Marshall BoydFeb 6, 2023▶ 15:36Marshall Boyd – Meat and Potatoes Multi-Family Real Estate at IEC (Capital Allocators, EP.295)
Insight
Boyd: Strict Rent Control Raises Rates on Market-Rate Units
“We do not love strict rent control because it's just challenging. And honestly, it raises the rent on those units that are open to market.”
Marshall BoydFeb 6, 2023▶ 19:48Marshall Boyd – Meat and Potatoes Multi-Family Real Estate at IEC (Capital Allocators, EP.295)
AssertionNot checkable as stated
Boyd: IEC gut-renovates apartment units in 15 days for $15,000
“We bonus our construction teams on renovating units, and typically it's about 12 to 15 days to completely gut renovate an apartment. This is going from shag carpet and pink tile and an old lampshade to a completely renovated unit in 15 days, call it, maybe spe…”
Marshall BoydFeb 6, 2023▶ 29:14Marshall Boyd – Meat and Potatoes Multi-Family Real Estate at IEC (Capital Allocators, EP.295)
Opinion
Boyd: Real estate investors underestimate risk of long-term property holds
“I think real estate in general underestimates how much more risk you add on by taking on an additional seven years of holding a building.”
Marshall BoydFeb 6, 2023▶ 35:42Marshall Boyd – Meat and Potatoes Multi-Family Real Estate at IEC (Capital Allocators, EP.295)
Insight
Boyd: One-person shows in private equity are flawed and hurt returns
“I really think there's benefits in terms of returns. To having a team that's empowered and not having it be this one person show. We can all name a lot of private equity firms where there's really just one name that's talked about. And I think that's a real fa…”
Marshall BoydFeb 6, 2023▶ 44:12Marshall Boyd – Meat and Potatoes Multi-Family Real Estate at IEC (Capital Allocators, EP.295)
PredictionNot checkable as stated
Boyd: Coastal wage growth will outperform inland markets in tenant resiliency
“I think if you're in Boise, I don't think the wages are moving up at the same level that they do on the coast, and I think that's something that will pay dividends in the coming years. In terms of resiliency of our residents.”
Marshall BoydFeb 6, 2023▶ 48:27Marshall Boyd – Meat and Potatoes Multi-Family Real Estate at IEC (Capital Allocators, EP.295)
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