In this episode, Brock speaks with Josh Kristoff. Josh is a former surface warfare officer and is now the managing partner at Nomad Capital Ventures and Kristoff Real Estate Investments. In this discussion, Josh talks about the stark differences he saw leading a manufacturing company compared to working inside of a tech company in Silicon Valley. We talk about how the military develops you as a generalist and when you need to specialize in a particular skill, why executive MBAs are underrated, and building a highly verticalized property management company.
Episode Resources:
Josh on LinkedIn: https://www.linkedin.com/in/joshkristoff/
Nomad Capital Ventures: https://www.nomadcapitalventures.com/
Show Notes:
0:00 Introduction to this episode.
1:36 What is the product you’re working on?
6:42 What are some of the accounting pain points you’re having and why is the willingness to pay so high?
11:41 What’s necessary in the short term rental industry.
16:12 How he ended up in the Navy and what he learned from it.
22:58 Is there the feeling of camaraderie that comes with being part of a tightly knit team?
26:56 What is the difference between working in Silicon Valley and manufacturing?
31:10 The importance of team leadership and communication and setting goals.
36:11 Why did you find yourself more apt at the manufacturing vs the tech focused gig?
40:16 When is the right time to specialize in a technical skill?
44:40 What’s the next five to 10 years looking like in terms of technical skills?
49:40 The three things executives need to brush up on and focus on.
54:26 The composition of the classroom and the opportunity cost.
58:45 The benefits of education after the military.
1:02:53 How he got started in real estate investing.
1:07:47 How his partnership started a real estate investing business.
1:12:17 The strength of the partnership has been the amount of stress they’ve experienced.
1:19:38 The impact of the pandemic on the short term rental industry.
1:22:54 What’s informing their decision to go vertical?
1:27:03 Why they’re not going to launch in every market.
1:32:10 What is it that you can offer them and we can take it from there?
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The Scuttlebutt Podcast - The podcast for service members and veterans building a life outside the military.
The Scuttlebutt Podcast - The podcast for veterans starting, buying, and scaling businesses. Show host, Brock Briggs, talks with veteran business owners and operators about the specific tactics used in their business and how to apply them.
Get a free weekly breakdown of the tactics from the discussion at https://www.scuttlebuttpodcast.co/.
Follow along:
• Episode & transcript: https://www.scuttlebuttpodcast.co/84-building-a-vertically-integrated-property-management-company-with-josh-kristoff/
• Brock: https://www.brockbriggs.com/