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January 22, 2021

Community Real Estate Development, with Matt Shields

Episode 237:

Matt Shields is co-founder of a real estate investment company called Significan LC. With Significan LC, he and his co-founder set out with a big hairy audacious goal of changing the world, one community at a time, one person at a time. They feel the way to truly do this is to change the language they use to communicate with the members that live in the communities that Significan LC manages and builds. Significan is changing how members are treated and the level of service provided to them. Matt believes that when they make people feel like they are significant, they’ll live happier lives and because all members feel a connection in belonging to the community the loyalty to the brand and community increases

In between managing and running these two businesses, Matt also runs a podcast called Pass the Secret Sauce where he interviews CEOs and founders and uncover the secret sauce that led to their success.

What you’ll learn about in this episode:

  • How Matt and his team at Significan have built communities that focus on people and respect first, focusing on the communities first and members second
  • How the Significan team use their core values and hierarchy of needs to determine right from wrong and solve the problems they face
  • How Significan grew from five communities with a total of 253 units between them and added another community with 275 additional units, more than doubling in size
  • Why Matt recommends you refer to your business to others in the plural as “we” even if you’re a solo entrepreneur
  • Why the team at Significan is focused on word-of-mouth marketing and raising the profile of their communities rather than paid marketing initiatives
  • How multifamily investors of any size and scale can adapt some of the strategies Matt has developed to work with their own properties
  • What challenges Matt has faced in his career, and why learning from challenges and taking action have been key to Matt’s success
  • Why Matt highly recommends the book “Never Split the Difference” by Chris Voss, and how its lessons on communication and negotiation have made an impact on Matt’s success
  • How to connect with Matt Shields or learn more about his podcast series “Pass the Secret Sauce”
  • Why Matt believes finding the right mentor and surrounding yourself with the right people is crucial for finding success in real estate

Resources:

Additional resources:

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