Since 2011, Moshe’s served as the Co-founder and Chairman of YMP Real Estate Management, a real estate investment and management firm he started with his wife, Yaffa. YMP’s portfolio includes approximately 4,000 multifamily units, numerous assisted living facilities, and 1.3 million square feet of commercial office space. YMP employs over 400 people and has a market presence in seven states. In this episode, Moshe shares his expertise on building a thriving business and offers expert advice on the real estate market, while taking questions from viewers.

On managing the unpredictability of business:

“I would say pivoting, focusing, not getting frustrated, and being level-headed so you can think, and that’s the nature of business because it’s constantly evolving. … If you’re going to choose to be in business you have to be comfortable with a pit in your stomach, because you don’t know. You do the best that you can with the information that you have, within the things that you can control. And then you have to move on to the next issue.”

On leadership:

“I always tell my guys: if there are things that you can’t figure out, give them to me. And, again, if you choose to be an entrepreneur, and lead a business, you have to take the hardest things on you.”

On not micromanaging his team:

“I think that when you are dealing with adults, and again this all goes back to the hiring process, when you are dealing with adults who are supposed to be responsible, treat them that way. We each have our microgoals and everyone is accountable. And there are processes and protocols set up to foster that. I just ask my team members if they’re not able to reach their particular goals – because everyone is relying on everybody else – I just ask them to overcommunicate, put it in an email, let everybody know, because then we can figure it out together. … Ultimately, your team wants the freedom to be creative. To come up with their own solutions.”

What Moshe looks for when he’s being pitched:

“I want to hear two things; I want to hear that they have that x-factor, that they have that grit, that no matter what, whatever the idea is, they are going to see it all the way to the end. That’s one part. And the second one part is, how everybody involved is going to be able to make money.”

Why Moshe prefers investing in real estate rather than the stock market:

“I will say, that as I’ve gotten older, I do see benefits to investing in the stock market, but because of the nature of the capital markets and the nature of wealth, I prefer real estate. … I think about assets, which is real estate typically, as an integral vehicle. The banks are the ones who have the money. So, when you have real estate it’s an easier box for banks to lend you money when you need it, to invest with you, it’s something that’s more solid. … There is $400 trillion of value in real estate, which is 70% of worldwide wealth. So, statistically, if you have the asset of real estate there’s just much more money looking towards that.”

The importance of discipline and time management:

“There are instances that I didn’t fully think through the amount of time I needed – not just in business but in decisions I’ve taken. Like, for instance, I do this podcast and it’s important to me because it’s a way that I can give back, practically. But it does take time. I only have a certain amount of time. My wife needs time. My ten kids need time. My office needs time. I need time to go through my day. Everything takes time. … The discipline is the answer to freedom. You have a set schedule; you have your discipline, and you stick to it. And over time, you will see tremendous results. Everything is my calendar and exactly disciplined.”

Is there a “right” time to start a business:

“The right time, I think, is when you have clarity. You will always have ideas; they happen all the time. If you just know that it’s your destiny then go for it, because nobody is going to tell you when to go. It must come from within you. And there will be a lot of people doubting you. But if you feel clear and you’re willing to pay the price, because there’s always a price … if you’re willing to do whatever needs to be done, it is rewarding!”