146: Integrity is Contagious, with Jacques Bazinet

146: Integrity is Contagious, with Jacques Bazinet

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Jacques Bazinet, a mammoth in the CRE world, with over 7500 units under his management. Listen in as we delve into the topic of manifesting who you want to be in your career, understanding the significance of your team as your key asset in the real estate business, and navigating the current multifamily downturn by identifying lucrative investment markets. This episode is a must-listen!

Learn more about Jacques and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“Mental creation precedes physical creation.”

02:09

Jacques started his career in the training and development field alongside Stephen Covey. However, his passion for commercial real estate eventually led him to pursue it full-time, and now he is the COO of Tallos Holdings.

He talks about Stephen Covey’s famous book, The Seven Habits of Highly Effective People, and highlights the most important lessons from it. 

  • Have a clear framework for what you want to achieve mentally. Begin with the end in mind.
  • Have high level of integrity with yourself before extending that same level of integrity to others.
  • Before beginning to manifest your desires, figure out who you want to be and what you stand for in life. 

“Organizations are perfectly aligned to get the result they’re getting.”

08:37

Jacques talks about the 50% rule. According to this rule, 50% of the information you hear in your industry is false. His advice is to prioritize your integrity and truth-seeking abilities to discern the factual information from the misinformation.

Drawing from this principle, Jacques shares valuable advice on collecting accurate information and managing real estate risks effectively. 

  • Work with people who have more experience than you. This gives you the flexibility to do a lot more.
  • Start creating a reality where you’re seeking answers from others, welcoming their answers, and trying them out. Be curious and willing to learn. 

“I think a life of integrity is like several lives of moving forward without integrity.”

19:35

Jacques offers insights on managing risks in large multifamily projects. He emphasizes that being trustworthy attracts trustworthiness, and investors seeking to build relationships with developers, engineers, or other project-related people should prioritize building trust through their actions.

Towards the end of the episode, Jacques talks about the growing inventory and decreasing occupancy in multifamily from a builder’s perspective. He shares his best pieces of advice to find the right market.

  • Build in the top five cities and in the number one sub-market within those top five cities. 
  • Build a class A product that is affordable. 
  • Choose an area where there might be oversupply in the general market, but not within the sub-market that you’re in. 

Jacques’ prediction is that the general market will be much more stable in the next 2 years. 

About our guest, Jacques Bazinet

Jacques Bazinet serves as Chief Operations Officer of Talos Holdings. With over 30 years of experience in operations and 25 years of experience in human performance, Jacques brings a unique perspective and ability to assist Talos Holdings in achieving its overall corporate vision. With executive and director roles at companies like Franklin Covey and InsideOut Development, Jacques has been instrumental in helping 10x revenues while also providing consulting, strategy, and a clear vision for 98 Fortune 1000 companies. In addition to assisting businesses to thrive, Jacques has a personal goal to create environments that foster personal and professional growth for residents of Talos Holdings’ developments, yielding maximum, consistent returns for investors.

Mentioned in the show:

  1. https://www.talosres.com/
  2. His LinkedIn
  3. Shineinsurance.com
  4. www.shineinsurance.com/managing-commercial-real-estate-risk
  5. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Jacques Bazinet for taking the time to share so many great insights with us

 
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Until the next time, We truly appreciate you listening.

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