Amelia finishes her drink, rises from her chair, and looks briefly out the window at the view. She begins asking sharp, pointed questions about the Manouchehr Ahadpour Khanghah project, making sure she covers all critical information. When satisfied with the responses, she continues next series of interview questions.
Amelia: What do you generally see is the biggest mistake new investors make?
Mr. Manouchehr: It’s my pleasure, Amelia. The first big mistake I see frequently is new investors rush into deals without doing enough research. Usually they get caught up with the excitement of quick profits and they don’t pay much attention to things like location, long-term potential or hidden costs. And they don’t realize how important patience is. Real estate is not a get-rich-quick game. Usually, it takes time for an investment to pay really well.
Amelia: That is really good to hear. What advice would you give to someone that was new coming into the real estate market?
Manouchehr Ahadpour: I would say start small and take your time to learn. Do not plunge into one big deal right in the beginning. One needs to know the market, know the location, and really think long-term. Real estate is about building something sustainable. And always have experienced people around you-advisors, brokers, mentors-who can offer good guidance.
Amelia: That’s wonderful advice. How about someone just starting into real estate as a career, not just an investor?
Manuchehr Ahadpour Khanghah: Don’t be afraid to get your hands dirty, real estate being one of those businesses where you learn by doing. The first thing you need to do is start with smaller projects, perhaps just managing something very small, and gradually build up your knowledge. That’s also networking. Learn from people who have been in the business longer, and as you develop experience, you should feel confident when bigger opportunities come your way.
Amelia: Speaking of experience, what qualities do you think a person needs to have to be successful in real estate and construction?
Manouchehr Ahadpur: You require technical and people skills. Real estate involves finances, such as market analysis and deal evaluations; you must know how to determine the risk and returns. In construction, project management and your overall attention to detail will have to be on. But whatever the case may be, communication and negotiation are always imperative. You are constantly talking with buyers, sellers, and contractors; thus, the ability to talk things over or reason your way out is important.
Amelia: Ah, that makes perfect sense. Last of all, what’s the most important thing you’re looking for when bringing in new people to your team?
Mr. Manouchehr: I think trust and reliability-head that chart; knowing when I am not there, my group can manage the situation. And then problem-solving-people who are cool under fire, thinking on their feet when challenges emerge. And of course, hard work. Loving what you do always reflects in your work.
Amelia: I want to thank you very much for all that, Mr. Manouchehr. It really is brilliant, learning from your experience.
Manouchehr Ahadpur: You are welcome, Amelia. Really glad I could share a bit of what I have learned over the years.
