• Greycast: BPN w/ Chris Mfume, Managing Partner of CLD Partners

  • Mar 15 2023
  • Length: 1 hr and 3 mins
  • Podcast

Greycast: BPN w/ Chris Mfume, Managing Partner of CLD Partners By cover art

Greycast: BPN w/ Chris Mfume, Managing Partner of CLD Partners

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  • Summary

  • Welcome back to Greysteel's GreyCast podcast. In today’s episode, Chris Mfume is our guest. Chris Mfume is the managing partner of CLD Partners. He is responsible for leading all development and investment activities and guiding the firm’s projects through inception to completion. He is also a member of the Urban Land Institute and Thread, a volunteer-driven mentor program. In the episode, Chris discusses his life background and how he started his real estate journey by job hunting for almost 7 months to founding his own business today. He also discusses the challenges as well as the benefits that he faced for being an African-American in the industry. Moreover, he talks about the things that make him and his company different from other developers as well as his system to be better with others. Lastly, he gives some advice to young aspiring entrepreneurs just like him who want to explore real estate and how to be successful in it.

    Takeaways

    How Chris Mfume started his real estate journey from humble beginnings
    The benefits and the challenges that Chris experienced as an African-American developer
    Things Chris is passionate about in life
    The right time to on making deals and sells the real estate
    The important elements to be successful in the real estate business
    Advice and wisdom from our guest

    Quotes

    While I was trying to get a job for 7 months, I was sharpening my skill set. I look for ways that can add value to myself. - Chris

    There has never been a better time to be a black entrepreneur in real estate than in 2022. - Chris

    Featured in this Episode

    TC Cosby
    Capital Markets, Greysteel
    https://greysteel.com/team/tc-cosby/
    https://www.linkedin.com/in/tc-cosby-90b7485/

    Aaron Inman
    Senior Investment Associate at Greysteel, Baltimore Multifamily
    https://greysteel.com/team/aaron-inman/
    https://www.linkedin.com/in/aaron-inman-9596a911a/

    Chris Mfume
    Managing Partner at CLD Partners
    https://www.linkedin.com/in/christopher-mfume-3269151b
    https://www.cldre.com

    Chapters
    00:00 Introduction
    02:06 Chris's background and how he started
    07:09 Chris gives insights on how he become successful
    10:50 Thoughts about the market today?
    14:13 How to approach capital on the equity side?
    16:09 The challenges and benefits faced by Chris
    19:15 The neighborhood and areas that are being underserved
    23:32 Are you having trouble as a black developer?
    25:58 What separated Chris from other developers?
    29:48 What are the things Chris is passionate about?
    34:22 Chris’ advice to all aspiring young developers
    39:49 Balancing between aggressively buying and conserving capital
    42:12 Great and bad deals that Chris had
    44:46 Chris's takeaways for young entrepreneurs to be successful
    50:26 When is the right time to make a sell and trade
    52:47 Adjusting the market value based on different factors
    55:08 Important elements to be successful in business
    59:55 What are the missing tidbits for African-Americans to enter the CRE

    Produced by Heartcast media
    www.heartcastmedia.com
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