Pick an Asset Class

You don’t pick an asset class because it’s hot. You pick one because it means something to you and you’re willing to suffer for it. Because make no mistake, every asset class will make you suffer at some point. If you don’t care deeply, you’ll quit when things get uncomfortable. And they will get uncomfortable.

I chose residential multifamily because of a lived experience. When I was newly married with a young kid, I lived in an apartment community that genuinely made our lives better. Safe, well-designed, functional, and human. That stuck with me. I realized I could create that experience for thousands of families over time. Housing is fundamental. People will need a place to live long after whatever tech trend is currently melting faces on Twitter.

Different asset classes attract different brains. Industrial real estate is basically global trade translated into concrete. You’re tracking shipping lanes, logistics nodes, ports, rail, and the invisible arteries of the global economy. Retail is about consumer psychology and experience. Not just “where do people shop,” but why they show up at all. Hospitality is brutal and fascinating because you answer the same question every night: how the hell do I rent this room again tomorrow, and to whom.

There’s no morally superior asset class. There’s only alignment. When your asset class lines up with how you think, what you care about, and how you see the world, you last longer. And in development, longevity beats brilliance every time.