Blog Assignment #3

Blog Assignment #3

Task #1

This past Monday we had two guest speakers in our FINC 371 class. These two Aggies names were Mike Gentry, former core commander and current lawyer of Real Estate and Doctor Sam Harrison: MD, well diversified in all types of investments, who's great grandfather was in the first class of Texas A&M. They both had a background full of the Aggie tradition.

They have joined together to develop a piece of land next to the intersection of highway 6 and Briarcrest in College Station, Texas. They ultimately wanted to place several businesses here, and even the owner of Buc-ee's decided to see if he could use the land. Ultimately the land was sold at $20/square foot. The development of this land was an extremely complicated and expensive project, but was successful nevertheless.

The most interesting part of this lecture was the amount of work involved when it comes to any piece of Real Estate. Everything from paying to track how many cars pass that intersection per day (which was around 70,000 vehicles) to being able to purchase the land that prohibited him from accessing Wildflower Drive. The amount of people and resources you have to use while managing Real Estate is immense, and it really teaches you the value of networking. Without the people and resources, it would have taken much more time and effort to make this project profitable.