Episode Transcript
[00:00:00] Speaker A: Welcome to Real Estate Profits. I'm Griselda and today we're taking your business from busy to brilliant. You're watching now Media Television.
Hello and welcome to Real Estate Profits where we spotlight the leaders who turn strategy into scalable success. I'm your host, Griselda Abuseliman and today we're exploring what it takes to build momentum in one of the most competitive industries in the world and that is commercial real estate. So joining us is Hai Wang, who's a CEO and co founder of Tyun Property Partners, one of Washington D.C. 's fastest growing commercial real estate investment and management firms. Since co founding the company in 2023, Ty has rapidly built a portfolio of three soon to be four office buildings, positioning Tycoon as a leader in disciplined execution and value creation.
Hi, welcome to Real Estate Profits.
[00:01:10] Speaker B: Thank you for having me. It's a great honor to be here and we look forward to share some insight and some experience with the folks who want to be an entrepreneur in our space.
[00:01:24] Speaker A: Absolutely. And it's not an easy space. Hi. So I'm so glad that you're here to share some of your golden nuggets.
So first of all, let's start out with some inspirations. So what inspired you to co found Tycoon property partners in 23 and particularly during a challenging office market cycle.
[00:01:45] Speaker B: I kind of want to go start by quoting Jeff Bezos.
I think one time Jeff Bezos give career advice saying that most people get a job to pay the bill.
Some people are fortunate enough to find a career and then develop a career and then support a family.
And he described the most fortunate people is who find their calling.
I think I found my calling in the year of 2022 when I went to my mentor's service at his church.
He passed away due to illness in 2022 and he has built such a impressive real estate portfolio and have done a lot of meaningful donation and help different organization grow. And during that service sitting at his church, I for some reason gather inspiration and feel like I also live once and I would like to have some impact of the remainder of my life and then but the calling has to meet the opportunity. You cannot just like decide once you have a calling, you just jump in. As we all. Yeah, as we all know, I think if you look, if I think there's a stat showing that the, the startup company, the failure rate is over 99%.
So yes, to start something for any entrepreneur here, my advice is that you have to be patient enough to wait for Perfect Storm.
The perfect Storm Happened to me after I waited for a year in, in 2023.
So let me kind of describe what perfect storm happened to me.
[00:03:56] Speaker A: Yeah, tell us about that. What is a perfect storm or in
[00:03:58] Speaker B: your world, I think for many entrepreneur you, we will all come across a perfect storm in your career if you decide to launch.
What happened to me in 2023 is that if you remember back in 2022, the in order to combat inflation, Federal reserve increase interest rate 75 basis point back to back to back to back
[00:04:35] Speaker A: every, we all remember that. That was crazy.
[00:04:38] Speaker B: That was crazy every other three weeks in order to combat inflation.
So what does, what does that impact to the market is that with the rapid increase interest rate it froze all the action from institutional investors back in the time commercial real estate. It's only for institutional, it's like institutional players playground.
And there's no room whatsoever for individual entrepreneur who try to make a presence. So right, because of that drastic interest rate increase that froze the market, there are many good assets that were under the contract or once very close to get under the contract all of a sudden become available.
And this is actually quite a phenomenon in 2023.
So yes, and also in 2022 if I can recall, the property that we have interest on has been to more than 50 times and was about to get under contract multiple times. However, the environment of the interest rate just so unpredictable and does not allow all the big institution to operate under such a huge risk. And because of that, that's the timing. So that's the one element of a perfect storm.
The second element of the perfect storm is that my partner and I have been talking about to work together for a long time. But you have to have the right project and the right deal to work on at that time. I share the project with him.
He and I both see this as a generational opportunity.
And then immediately, once we get close to under the contract, the current property management company that managed the building lay off all on site staff.
So I went on to hire all the on site staff. So all of a sudden, all of a sudden I have a project, I have capital and I have a team. So that's how I describe as a perfect storm. So I, I, that's why you see that the success rate is so low. Because a perfect storm don't come very often. And yes, when it comes, you have to be decisive enough to strike. And yes, I, I, I have the calling. Waited for a year and then waited for the storm. The storm happened and we went for it. That's how How I Found the tycoon in 2023.
[00:07:41] Speaker A: Wow, that is a fantastic story and I'm so glad that you're sharing it with our audience, but absolutely, it is definitely a challenge. But there are storms out there. But you take the perspective of I'm going to take advantage of this opportunity. Right? With every storm there's opportunity. And obviously you took opportunity there, obviously into great heights. It requires grit, passion, obviously you love this and perseverance. And obviously with that you were able to make it happen. Congratulations.
[00:08:11] Speaker B: Thank you so much.
[00:08:13] Speaker A: Yeah, yeah. So now obviously, even though all those things align and you have the perfect storm and all of that, what gave you the confidence to scale quickly rather than cautiously? Because you've been at a pretty rapid rate here, but it gives you the confidence to scale up quickly.
[00:08:30] Speaker B: I, I, I think you probably went back to my, my upbringing and also the, the way I grew up. I was lived through scarcity and also a lot of time that I, I learned being patient at a very young age and I think those all become a very good skill set to have.
And yes, from the, so the, the, I always have that in mind that I would like to be running my own business one day and, but like I described, I've been waiting for that perfect storm probably for my entire life.
And when, when they happen, I, I think in my mind now I'm 48. I probably already processed in my mind for 40 years.
And so I think there's a lot of clarity and there's a lot of internal thinking that have been processed for long enough for me to be very decisive when the opportunity arrive.
However, it cannot be just, you know, a leap of faith or just, you know, feel passionate about it. I think I still look at some really basic fundamentals. Let's kind of look at from the larger scale first. If you look at from a macro perspective, the, the inventory in the office on the new build side, the, in 2026-2017, nationwide, I think there's only like 9 million square feet new office under construction. But if you look at the historic new office annually nationwide, any office developer delivery about 50 million new office space.
So we're looking at the, oh, if we go on the historic average, the next two years, we suppose we'll have 100 million square feet of office in the market.
However, in today's world, they're only 9 million.
So I think if you just look at from a macro perspective, the narrative of office being a negative or a not the desirable investment target, the narrative will change very fast and for us, from the macro, for, from the macro perspective, we're looking at the supply and then if we kind of drill down to a local perspective, the local perspective also flashing a lot of green lights. I'll start from the current administration.
When he took office, he immediately signed a return to office executive order. Yeah, that's a, that's a game changer as billions impact.
And then the second thing is that on the local government, there's a lot of new development that are going on in downtown D.C. area. I'll just name a few. The first one is that the government and the owner of Washington Wizards, they, they put the renovation plan together to update the Capital One arena and also rolled out a entire Chinatown revitalization point.
Yeah, the renovation of the Capital One arena. Arena is already under construction and that alone cost like north of a billion dollars and the entire Chinatown corridor revitalization, revitalization will, if you add on the cost, will be add on a few billion dollar more. And it's a tremendous improvement of the urban area.
In addition to that, you probably also heard that now that D.C. is going to bring the Washington Commander stadium back to D.C. at the old 5K Stadium site.
That alone is also a huge infrastructure and amenity addition to the city.
So they are, they are from the federal level, the return to work, from the macro level, the overall supply constraint. And then you have multiple government incentive and then including the urban revitalization and then you have the RFK stadium.
And then. Yeah, it already changed the momentum and we see the traffic's getting congested again in downtown.
[00:13:39] Speaker A: Absolutely.
[00:13:40] Speaker B: The way we're looking at and we grow so decisively is once you bypass all the, you know, political drama and once you bypass a lot of noise and just strictly look at fact, I think all the facts are pointing on a very bullish and very promising recovery on office real estate.
[00:14:05] Speaker A: Absolutely. And not only do you have that mindset of perseverance, but obviously from what you just shared with us, you study the market, you study current events and what's happening out there. And obviously you know your numbers, you ramble off so many numbers there that it shows. It clearly showed. Right. So it takes all of that. Now up for next segment, we're going to explore the mindset behind disciplined execution and how innovation plays a role in real estate leadership.
So stay with us. We'll be back with time.
Commercial real estate.
[00:14:38] Speaker B: Thank you.
[00:14:38] Speaker A: Thank you so much.
We'll be right back with more ways to optimize scale and succeed. This is real estate profits on now Media Television.
And we're back. I'm Griselda and this is Real Estate Profits on NOW Media Television. Let's keep building smarter together.
Hello, welcome back to Real Estate Profits. I'm here with Hai Chen Wang of Tycoon Property Partners. And in this segment we're diving into the foundation of his leadership. It's about discipline, design and data driven execution.
So our topic is bridging architecture from urban design and real estate development.
Hai holds dual master degrees in real estate development in Architecture and Urban Design from Columbia University and the Bachelor of Arts in Architecture from CY Christian University in Taiwan.
[00:15:37] Speaker B: Welcome back Hai, thank you for having me again. Great to be here and thank you
[00:15:43] Speaker A: for a fantastic first segment where you shared a lot of golden nuggets in terms of how to succeed in the very challenging commercial real estate market.
So in this section we're going to talk more about the architecture and bridging that in urban design.
So how has your architectural training influenced your approach to commercial investment?
[00:16:06] Speaker B: I think architectural training give us give me a little bit advantage from the get go which is that I can read the blueprint a lot faster and I can understand the context in a, in a blueprint.
And on, on the commercial investment side I, I think with the special training from architecture school it allow us to see things from the user experience.
I think the most different perspective or different approach we have is that we always put ourselves in tenants shoes and to under try to see what will make tenant have better user experience.
And I always find that if you provide convenience, if you provide better experience and you will end up have better return a lot of time. I see the difference between different background is that you cannot just only look at your spreadsheet. The spreadsheet will only just tell you half of the story.
The main challenge is not just having a good idea to execute a good idea. It's so much more challenging and difficult.
So I think what really helped me with the architectural background is really allow me to look that the space from the user perspective.
[00:17:45] Speaker A: Yeah, absolutely. And, and obviously that's very unique. Right? Not many people have that architectural background plus the commercial side in real estate and investing plus obviously this is one of your main interests. So you research quite a bit from what I can gather too as you're talking to us and giving us your insights.
[00:18:05] Speaker B: Yeah, I think research definitely help and then I think also on the architectural training will let us become more sensitive on texture, on fabric and on the scale, on the size of different space so we can make sure that no detail is missing. And then provide the best quality possible to our tenants.
[00:18:29] Speaker A: Absolutely. And I've heard that before. Right. Let's make sure that we take care of all the little details. Somewhere in that White House someone said that. But making sure that those ideas came to life in what they're designing in Washington D.C. and other areas.
But. Well, thank you for sharing that. Now, what do developers often misunderstand about long term value in office properties?
[00:18:53] Speaker B: I think in today's world to. To understand long term value you have to one, you have to be nimble and flexible and learn how to adapt to the new reality, the.
The commercial world. The commercial real estate world changed a lot. Seems pandemic in the past. I think commercial real estate, especially office buildings are beloved by institutionals.
The reason that all the institutional like Penjen vom, big player like BlackRock, Blackstone, they all love to have in their portfolio is because it before COVID all the commercial lease are signed between five even to 20 years.
[00:19:43] Speaker A: Yeah.
[00:19:45] Speaker B: For the landlord who have a credit tenant he can comfortably sit in there collecting rent from for five to 20 years, it become a very, very good, attractive fixed income investment.
[00:19:59] Speaker A: Yes.
[00:20:00] Speaker B: However, because of that comfort and sometimes they forgot to adapt or they adapt a little bit too slow. When the pandemic happened and when the pandemic happened, what really changed is that hybrid work mode is here to stay. People are start to using their home as a home office and then when they have to gather, they will come to office because you cannot gather all the strangers at your house. You're gonna, there's gonna be some place that will everybody be more professional and proper settings for us to congregate or convene. And because of that the work environment also shifted pretty rapidly and huge. Huge. Yes, yes. And what we see especially on the Amelie side, our conference room is always booked.
And I think that explained that we are all very social creature that we need to congregate, we need to work together as a team. We need to brainstorm in order to build a more productive business.
And for that if the landlords are a little bit late on adapting to the new work prototype, they will suffer.
So I think for the, for the long run, I would say the adaptability will be very key and also continue to understand how the work environment change and then will also help you to keep your product competitive.
[00:21:42] Speaker A: Absolutely. And there's so many things to consider. Right. Hi, there's what are companies doing, what buildings are becoming vacant. And then obviously like you say, there is benefit to a lot of us being in the Office. Right. You know, sharing ideas and brainstorming together, there's a lot of value to that. So a lot of people think just short term thinking, but obviously you focus on, on the long term value for all the business.
Now how do you balance creative design thinking with your financial discipline?
[00:22:16] Speaker B: This is a great question.
I think like I say earlier, to have great ideas, great ideas is a lot easier to come.
Great execution is I would say at least 10 times harder than, than getting over coming up with the great ideas.
So the great ideas need financial discipline to execute that. If you just have great ideas and have no discipline, then you can easily overspend or you kind of just get lost it during the process.
So what we do to have a good execution is that we lay out the business plan 5 to 10 years, we look the investment on the 5 to 10 years horizon and we start to phase in the creative ideas. And this way every time when we have a creative idea, we have a strong cash flow to back up. And this way you can execute. Otherwise a lot of great ideas can only just be, you know, discussed around on the conference table and not going to too far.
[00:23:29] Speaker A: Absolutely. And I've seen many people do that, right. They have brilliant ideas, but it's just an idea and they discuss it a lot. But without that plan and that five to 10 year outlook, it goes nowhere. Right. So you need not only the put it in a plan, figure out what you're going to go do long term. Right. Not just the first year, but then execution. Make sure that you execute flawlessly to that plan.
[00:23:53] Speaker B: Right, exactly.
[00:23:54] Speaker A: And then obviously track your ROI as you surely do. And so you keep your finances growing and in check.
Exactly.
[00:24:02] Speaker B: Yeah.
[00:24:02] Speaker A: So now in a post pandemic office market, since you mentioned the pandemic, what separates adaptive leaders from reactive ones?
[00:24:11] Speaker B: I think adaptive leaders quickly find out that in the beginning of return to office they are competing against people who used to work from home.
And then the most important thing for the adaptive leader is that you need to differentiate your product and offer some amenity and some service or convenience that a home cannot offer. You know I mentioned about meeting in person conferencing. There's no way that you and invite 10 people or 10 consultants to your home to have meeting invade your privacy. And there's no way that so the the office location also become very important because you want to be in the area that's well amenitized. It's easy to the restaurant, easy walk to to pharmacy. So it's bring multiple reason for you to come Back to the office and then on the office amenity side, other than conference, if you have a really nice fitness, you have a bike room and then you have, for us we even have a podcast studio and even with a. Wow, great with an in house producer. And I think there are many things that office can add value if you understand how to improve your tenants business.
[00:25:37] Speaker A: Absolutely. So now real quickly here, so for professionals watching who want to enter the real estate development, what foundational skill should they master first?
[00:25:47] Speaker B: I, I, what I really recommend is to grow on their strengths. You know I come from an architecture background, somebody maybe come from accounting, somebody may come from business, small business.
They are niche in real estate for all kinds of skill sets. So I, I don't think you have to learn a lot. I think you build on something you already good at and then continue to find the people who share your value and build a team and start from there. I think then you'll find a niche and succeed.
Perfect.
[00:26:20] Speaker A: Thank you so much. So coming up next, we'll discuss innovation and how Tycoon is positioning itself for the future of urban commercial spaces. We'll be right back.
We'll be right back with more ways to optimize, scale and succeed. This is real estate profits on NOW Media television.
And we're back. I'm Griselda and this is real estate profits on NOW Media television. Let's keep building smarter together.
Hello. Welcome back to real estate profits. As the commercial office landscape evolves, leaders must rethink how buildings serve tenants and, and communities. And to guide us in that discussion today we have. Hi. Who by the way, hi. How do we, how do people get a hold of you? How can they reach you? What website or how do they contact you?
[00:27:15] Speaker B: They can find us on tycoon llc.com and tycoon media.com okay, so, so once
[00:27:25] Speaker A: again, Tycoon property partners, you can reach
[00:27:28] Speaker B: them on tycoon llc.com or tycoon media.com Perfect, thank you.
[00:27:34] Speaker A: Thank you so much.
So now we're going to talk about innovation, repositioning assets and then future proofing investments. Now with that let's get started with office demand shifting nationwide. How are you repositioning properties for long term resilience?
[00:27:54] Speaker B: So I think after Covid being a game changer, we learned that the working environment, it's forever evolving.
Every day there are different news and we're dealing with the different world situation day by day.
So that's the way that we're looking at innovation.
Actually we bring in a different way to help Our business owners, small business owners and our tenants, which is we bring in Tycoon Media in the folder. The reason that we bring in Tycoon Media within our real estate company is that we learned that if you have a great skill set and nobody sees you, you're not going to go so far how good your skill set, you need to have the equal amount of eyeballs looking at you.
So we feel the most powerful tool to provide and to for our tenant and for all the small business owners is with the space we have. We provide them a media service and then allow them to come in a couple hours. We can record their marketing promotion, we can do their like a business introduction or we can even record a podcast to help them to grow their business.
So I, I see the innovation from a different way because the physical space constant change, the tenant come and go as the lease expire. However, the value of a service will never go and we want to continue to provide the value of service. So even they move out, we maybe still have the relationship they know come in here, they can record a podcast, record a short promote and then they can have really good social media presence and then help to grow their business. And we, we believe that the more small business we help, the better for the city and then the better the city. Do better. I think real estate will also do better.
[00:30:09] Speaker A: Absolutely. You have to be out there, you have to be visible, you have to be serving people and obviously when you do that, they will come back, right. And your business flourishes.
But you're right, right. If you don't go out there, you can be the best in the world. But if no one knows you, there's not much you can do with that. Right. So marketing is critically important.
Now what role does, yeah, what role does branding and communication then play in this modern real estate strategy that you're discussing?
[00:30:37] Speaker B: I think branding and communication is as important as how good any people is in today's business.
So that's why when we grow our real estate portfolio, I spend the same amount of time to grow our media business.
Like I say earlier, you need to have a media presence to tell your story to tell so that people understand your brand, that people understand your culture and understand how you differentiate yourself from other people. In addition to that, we even offer this service to other people who have the similar need. And I think it become a very good and rewarding process for us.
The media part, since we started about a year ago, we have tremendous request and the, the demand was a lot more than I expected.
So since we start the. Yeah, I'm happy to share you. Since we started the Tycoon media channel here, we have recorded a couple well known podcaster in our studio here and their total views are over 10 millions. And so we, we feel that have meet the need not just for real estate and also meet the need for many business owners.
[00:32:03] Speaker A: Absolutely. You need to know your unique value proposition and make sure that you're out there sharing them and making sure that you bring other entrepreneurs along. Fantastic. Thank you for sharing that. Now, how do you identify underperforming assets and transform them into growth opportunities? Some people kind of overlook those, but how do you study all that to make sure that they're all performing?
[00:32:25] Speaker B: I. This, this is another interesting question. The way I'm looking at underperforming asset, I usually ask if this is an opportunity my team is ready for or if this is an opportunity I can execute. Because fundamentally if you see this as a great opportunity, but if you don't have the skill set or your team is not built around that, then that's not your opportunity.
So I, I kind of will recommend all the entrepreneur who are looking at underperforming asset. I would recommend first they ask what their strength is, what kind of underperforming asset they can do very well. They it can fit their personality and they have the resource such as contractor or designer or architect who specialize in those kind of asset type. If they can identify that and have a team to do that and also line up resource to do that, I think they can do well.
The underperforming is a very general term. It could be underperforming for A, but it's probably overwhelming for B. So we just kind of need to always evaluate our strengths, understand where we can perform well and what's a unique opportunity because of our unique, you know, skill set.
[00:33:50] Speaker A: Oh, absolutely. And I'm pretty sure you have your whole portfolio to see what assets are creating, you know, good returns for you and which ones need a little bit of attention. And obviously that's where you focus your team and yourself.
[00:34:01] Speaker B: When I make the wrong decision, when I pick the one that I'm not good at. But everybody say, oh, that's a great opportunity.
[00:34:09] Speaker A: Absolutely. Okay, so now let's go into what Trends in Washington D.C.
commercial market are you watching most closely?
[00:34:18] Speaker B: Because we're predominantly in the office real estate. So I always monitor the quarter to quarter office building occupancy rate across all asset class from trophy all the way down to A, B and C.
Another, another thing I will always monitor is the employment rate, population growth and crime rate.
These are all the essential indicators that will dictate that the potential rent growth and also will tell you whether this is a healthy investment environment for potential investors.
[00:34:59] Speaker A: So, so not only do you have to know your numbers, right. But you have to be really knowledgeable of anything happening in the market. Right. Even crime rate, employment rate, all of that matters in the commercial real estate business.
[00:35:11] Speaker B: Yeah, it's, it's a broader term is it's all about supply. If you have population increase, you're going to have more people, need space and then you have employment. If the employment rate is high, that means the office is hiring, then that means you need more space. And then if the crime rate is improving and continue decrease, that means the environment is safer, it's better for business. So this all very for us, this is very important indicator to tell us how the market will perform in the future quarters.
[00:35:48] Speaker A: Absolutely. Well, thank you so much for sharing those wonderful insights. Now in our final segment, we turn from strategy to legacies and what it means to build impact beyond just square footage. So we'll be back with Hai Qian Wang of Tycoon Property Partners with more insights on commercial real estate.
We'll be right back with more ways to optimize scale and succeed. This is real estate profits on NOW Media Television.
And we're back. I'm Griselda and this is real estate profits on NOW Media Television.
Let's keep building smarter together.
Welcome back. Now as we close today's conversation, we look at leadership beyond the numbers because real estate profits are built on vision, discipline and long term thinking.
So the topic for this segment is about entrepreneurship, long term vision and industry influence.
So Hai is with us here to guide us through that conversation. And I'll start off with this question. Hai, what does leadership mean to you beyond the financial performance?
[00:37:02] Speaker B: I think at the end of the day, how good you are depends on how good your team is.
And I always believe that once you build a great team, the financial performance and the bottom line will follow.
So when it comes to leadership, I think I lead with vision and then we provide the purpose for them to follow. So there's always a purpose that will feel fulfilling when they accomplish a assignment. And then another thing, I think as a leader, to provide a level of stability and clarity is as important because you need to let them feel that not only there's a future here, they feel there's a life here, their quality of life improve and then as your team reach certain level of stability it will outperform in any situation. And when they outperform, your financial performance also outperform. I, I think at the end of the day, it's human capital beyond anything. Business is about human capital. It's not about chasing numbers.
[00:38:22] Speaker A: Absolutely. It has the first name and the last name. Right. It's about vision, purpose and people put all that together and treat people well. There's great collaboration and obviously your business blossoms.
[00:38:34] Speaker B: Yeah. Then you.
[00:38:35] Speaker A: Thank you.
[00:38:36] Speaker B: Three star materialing all day long.
Yes.
[00:38:39] Speaker A: Yes. Now, when you reflect on Tycoon's rapid growth, what milestone stands out the most to you? Can you share that with us?
[00:38:49] Speaker B: Of course. I think the milestone actually doesn't come from like how many deals we have done or how many assets that were currently under management.
I think the milestone is how quickly we can have the entire team get to stability and get to in a very productive set. I think here at Tycoon, I'll say the major, another major milestone is that we quickly find out everybody's strengths and, and allow them to have the wind to grow their strengths. And I'm, I'm more like their coach. I continue to inspire and encourage them.
I allow mistakes whenever that happened. I, I have their back. And I think another interesting example after we practice this philosophy is that I ended up having two pair of mom and daughter duo working at Tycoon. Now mom come in first and they like the work environment. Eventually they brought in their daughter. I, I, to me, that's a milestone larger than anything else because if I can feel, I can let the mom feel comfortable with me and bring the daughter. That means they see there's a stability, there's a future and there's the vision and value. They agree.
And so it really helped to build a team. And I cannot see better mentor than mom mentoring their daughter.
So it really become a great selfless team that we have. Always have open, honest conversation and we can be very nimble and address all the complaints or all the issue that surface up and then it almost become more like a family.
And yes, and I, I'm pretty proud of that. I think we have a very unique culture and a very unique character that I carry around through Tycoon.
[00:41:08] Speaker A: That is fantastic. And so a lot of people don't do that. Right. They don't have that compassionate side. And it's amazing what it does. When people know that you care, they in turn care for the business. Right. They want to do good for the business. And obviously like in your case, they bring family members over and like, hey, this is a great place to be. Come on mom or come on daughter, let's bring them along.
But I can also tell that you're a coach and a leader that elevates people. Right. I call that having that genuine respect for people, you care about them, their well being and obviously in turn they care about the company, making sure that all of you are growing together in their skills and your financials.
Very, very unique and very, very awesome. Thank you so much.
[00:41:52] Speaker B: I want to add a nugget on, on top of this. So the way that we practice here have crystallized to a philosophy here I call one life, one team.
Let me elaborate that as we all know that everybody only live once, we all have equally 24 hours.
And I think after Covid, we all learned that work is part of the life, family is part of the life. And at times we work at home. We also have family life at home. So I think during the COVID we learned that life and work are already intertwined and inseparable.
[00:42:35] Speaker A: Yes.
[00:42:36] Speaker B: So that's, that's kind of where the one life is.
And then because life and work already inseparable, why do we have to compromise or sacrifice one another? It shouldn't be that once you're at work, you kind of have to cut off. And then once you. And then a lot of time, if you don't do well at work, you probably will carry some negative energy back home.
So we try to create a very healthy environment as a one team. So everybody here contribute, build a very competitive team and we end up have very strong financial performance.
And then during other time, anytime other than work, they can pursue their personal dream, they can have their, they can pursue. You know, one of my staff, he, she's lacrosse coach and she also co hosts another podcast in addition to working at Tycoon. That's the we promote here. You don't have to sacrifice one or another. I think you, if you come in here happy, you feel this is a healthy environment, you see there's a growth and then you're happy to contribute to the team, then that's kind of how we see as a 1:1 team. And we spread that out and we practice this culture and, and we now see this flourish.
[00:44:05] Speaker A: Absolutely. What a beautiful thing. I'm so glad that you're sharing that with our audience that others can also think about One life, one team. Right. Many people try to talk about work, life, balance, and how do you support, you know, balance the two. It's an integration like you define, right.
In one life.
[00:44:23] Speaker B: Yeah, yeah, it's inseparable. And I think if you treat it as one life, one team, then there are times you have to deal with family emergency, go do it. And there are times, you know, work up some engagement, then you're going to stay a little longer. But because you are not sacrifice one or another and then you have a you know, everybody because as a great team member as everybody can held accountable so the business can still operate and you don't have to worry about your paycheck in itself become, become very sustainable. And this is kind of how we, I think this explains how we are able to grow rapidly because this, this team bonding allow us to be very competitive and be very nimble.
[00:45:10] Speaker A: I agree with you 100.
It matters, right? How you work together, how you collaborate, how do you respect their space and obviously worry about their development to make sure they have the right skills. They will be with you forever high. So that, that is amazing.
[00:45:25] Speaker B: That's how I hire, you know, everybody I hire, I envision that I can work together with 20 years. That's my higher stand.
[00:45:32] Speaker A: Very good. That's why you're building a legacy here, right? So congrats on that now. So on that note, what legacy do you hope Tycoon Property Partners leaves in
[00:45:43] Speaker B: Washington D.C.
i, I think what we're trying very hard and also build a media company within real estate is that we want to tell the stories behind the four side of walls. Real estate is really not just about building, not about structure. Real estate is about people who work and live there. It's about how people get business done, how we create value, how we come up with great concept.
So I hope people can see Tycoon trying to be leading the innovative side and try to rethink what else can be brought into real estate to make it more relatable and to make it more to create more value for our tenant or for people who come to use our media studios. And the second thing, I hope that people can also see that we not only trying to improve our interior environment, we also trying to contribute and improve the block that we are located in. We try to make the outdoor area look more attractive. We try to, you know, improve our facade. So we, we hope that people also see that we're putting a lot of effort not just make the interior space nice to work with, we're also putting equal, equal effort to make the overall urban to become more whether pedestrian friendly, tourist friendly or make it become a better city.
These are things that I hope people can remember the impact we leave in
[00:47:25] Speaker A: D.C.
and they will as you leave your legacy. Absolutely. Now. Hi, Chin Wang, thank you for sharing your journey and your amazing insights. Today's conversation reminds us that real estate profits aren't just about acquisitions. They're about discipline, strategy, innovation, long term value creation, and about taking care of our people.
So once again, how do people get a hold of you or your team? Hi.
[00:47:54] Speaker B: Please look us up on tycoonlc.com and tycoonmedia.com you'll see all the updates we have on our website and the contact information are on there as well.
[00:48:07] Speaker A: Fantastic. And there we are. You're seeing it on the screen. So to our viewers, are you investing reactively or building intentionally? Like, hi, Chen Wang and Tycoon Property Partners here. I'm Griselda Bustleman. Thank you for watching real estate profits on NOW Media Television.
[00:48:26] Speaker B: Thank you. Thank you so much.
