I was recently featured in the real estate twitter profile series being done by John Reeder on his blog Real Property Alpha. Earlier this week John released the Top 100 Influential Real Estate Twitter Users, in which I was #59 on the list. Receiving a lot of positive feedback John decided to follow-up the rankings with a twitter user profile series. The profiles highlight twitter users from all facets of commercial real estate discussing how they use twitter, their favorite users to follow, and how social media has effected their lives.
I’m truly humbled to be included in this series, here is my profile:
This installment of the real estate twitter profile series looks at Joe Stampone, a masters student at NYU. You can find him on Twitter @JoeStampone1 where he has over 1900 followers, or at his website, www.astudentoftherealestategame.com .
Joe made the list of the influential real estate Twitter users because he is followed by a number of the other influential people on the list. Joe is also a great illustration of a point that I make often about no longer having to wait in line. The old economy was primarily a “wait your turn” and permission based economy. The new economy allows you to skip ahead in line. By using internet publishing and media tools to promote yourself and connect with others, you can go over and around the people/companies that would have had control of how fast you could advance in the old economy. Joe is a masters student, but has already been able to connect with people who never would have been able to find him in the old economy. Joe is harnessing these tools in ways that will no doubt benefit him when it is time for him to find a job.
Reeder: What is your primary niche in the real estate industry?
Stampone: I’m currently a full-time masters student at the NYU Schack Institute of Real Estate with a focus in real estate development. I aspire to found my own real estate investment / development firm. More specifically, I’d like to do cutting-edge, environmentally responsible deals all over the world.
What is the prevailing sentiment in your primary market right now?
As a student who will be entering the work force in the near future, I have a very positive outlook on the market. There is a lot of debt coming due over the next one to three years that will inevitably lead to a number of distressed opportunities. Delinquency rates are at an all-time high and many property owners are hanging on by a hair only because the mortgage rates are floating over LIBOR, which is minuscule. I think the opportunities will first come in the form of buying bad debt and eventually acquiring distressed assets for pennies on the dollar.
How do you use Twitter in your professional life?
Social media is all about engaging and becoming active in the community. I use Twitter specifically to build relationships with like-minded individuals. The key however, is to take those relationships offline and begin to build a valuable friendship.
I also use Twitter to promote and build a community around my real estate blog (http://www.astudentoftherealestategame.com/)
Give me your three favorite people to follow that you have discovered through Twitter?
There are so many great people that it’s hard to narrow it down to three.
@MattwilsonTV and @JaredOtoole – 2 young entrepreneurs who refuse to work in a cubicle and climb the corporate ladder. They inspire young entrepreneurs to follow their passion and live the dream (http://under30ceo.com/).
@Garyvee – Simply the most inspiring guy out there. He advocates following your passion and making a living out of it. If you haven’t seen one of his keynotes, check it out because it’ll change your life (http://garyvaynerchuk.com/tagged/keynotes).
@DanSchawbel – A personal branding expert and yet another guy who expresses the importance of blogging and social media to create your dream job.
Has your use of social media positively impacted your business?
Social media and blogging have impacted my life in many ways. I’ve met so many interesting and driven people and come across a number of opportunities. To give an example, I was at a tweet-up in New York City where I met Sherry Chris. I eventually learned Sherry was the CEO of the new real estate brand Better Homes and Gardens Real Estate under the Realogy family. A phone call and meeting later and I was working as a social media consultant for an emerging real estate brand.
How do you think we will be talking about social media as it relates to real estate a year from now?
Social media is changing and advancing so quickly. For one, I see the ubiquity of social media increasing. I also see the growth of niche social networks. I am personally launching a closed social network aimed a bringing together students and alumni from the various masters in real estate programs.
Go out on a limb, forecast the next year of your primary market in 140 characters.
As a student, I’ll forecast the market in general.
some refinancing, although with stringent underwriting and low LTV’s, abundance of distressed deals mainly picked up by REITS and opportunity funds.
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