130: Zach Kosturos – Always Building Relationships

Guest: Zach Kosturos

 

Guest Bio: 

Zach Kosturos is the President and Owner of Prime Locations, Inc., a full service commercial real estate company and Upsyde Ventures, a real estate private equity company. His companies develop, sell, lease and manage office, retail, industrial, multifamily, and self-storage investments. Zach’s commercial real estate knowledge and experience are vast as a result of his involvement in all aspects of the industry, including development, acquisition, disposition, financing, leasing, maintenance, management and most importantly, ownership.

 

Key Points: 

Career Journey: From Baseball to Real Estate Entrepreneur

· Played baseball on a scholarship with aspirations to turn professional, but shifted focus to sales and communication skills after realizing the MLB path wasn’t viable.

· Developed a passion for investing after reading about Warren Buffett, leading to a deep dive into value investing.

· Entered real estate in 2008 during the economic downturn, buying out partners to grow Prime Locations, and later launched Upside Ventures, a real estate private equity firm.

 

Business Growth & Ownership:

· Prime Locations has grown five times its revenue since Zach took over.

· Upside Ventures currently owns $75 million worth of commercial property.

· Ownership is central to Zach’s success, as it allows him to understand both the investor and client’s perspectives in real estate.

 

Importance of Ownership:

· Zach emphasizes that ownership, particularly in real estate, is critical because it gives insight into the challenges owners face, making it easier to serve clients effectively.

· Learning through experience and mentorship is crucial. Books gave him theoretical knowledge, but real-world exposure to owning and managing investments accelerated his growth.

 

Advice to Young Entrepreneurs:

· Zach advises aspiring entrepreneurs to work within their circle of competence and avoid dabbling in too many areas.

· Believing in yourself, putting in the effort, and having the courage to take risks are key factors for success.

· His analogy to baseball emphasizes the importance of preparation and practice before taking big risks.

 

Sales & Mentorship:

· Zach sees salesmanship as the ability to communicate and build relationships, not just close deals. He trains his team to be trusted advisors.

· Mentorship plays a huge role in developing sales skills, as successful brokers typically have mentors guiding them.

 

Building Value in Real Estate:

· New brokers add value by being persistent without being overly aggressive, demonstrating their commitment to potential clients.

· Prime Locations’ team uses direct mail campaigns to add value by providing valuable, exclusive information that can't be found online, positioning them as trusted advisors.

 

Results of Direct Mail Campaigns:

· Direct mail campaigns have generated significant returns, with one campaign bringing in $400,000 in commissions for an $8,000 investment.

· A recent direct mail effort led to a $19 million acquisition of properties, showcasing the power of persistence and effective marketing.

 

Leveraging Direct Mail:

· Direct mail is less cluttered than email, making it an effective tool in real estate marketing.

· Zach’s approach to direct mail is unique, using high-quality newsletters with useful information, differentiating them from the typical marketing materials.

 

Guest Links:

https://www.linkedin.com/in/zkosturos/  

 

 

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