Chad Whichard works with a real estate holding and development company based out of Raleigh, North Carolina. Their core business is searching for undervalued commercial properties to redevelop and or subdivide.
How do you motivate others?
I am a glass half full person so I try my best to remain positive. Mood is a motivating factor and can influence how we respond to challenges. Having everyone in the right headspace to be responsive instead of reactive is optimal. I always stress open communication and encourage all associates to speak directly when any issues arise. Calm efficiency wins the day.
How has your company grown from its early days to now?
Our original strategy was, “Buy by the pound, subdivide and resell.” But we have added rehabbing and finding unorthodox tenants, as most of the properties we acquire have passed the class A lifecycle, so to speak. It’s the area we see the most opportunity.
Who has been a role model to you and why?
My role models, were my father and also nowadays Tom Robinson, formerly of Equitable out of Atlanta. I’ll call him a mentor and coach. He has been and still is a key person in locating, acquiring and negotiating new deals on our behalf. I learned a lot from my father and Tom. They formed a dynamic duo and epitomized teamwork. Those two knocked it out of the park in the 90’s and early 2000’s. It was a situations where one plus one equals way more than two. That teamwork gave our investment group a lot of traction.Their efforts built a seamless continuity that stands today between Tom and our organization. This continuity makes achieving goals a lot of fun and rewarding. I look forward to continuing the team effort with Tom and expanding on those efforts. I still consider myself the new guy, always learning how much more there is to know in the world.
How do you maintain a solid work life balance?
I don’t think I’ve ever been accused of working too hard. Maybe I’ve taken on more than I could chew, but never overworked. Nowadays, I’m learning how to properly assess what to take on versus what to pass on. This is an extension of what I mentioned earlier regarding your question about motivation- possessing equanimity is an essential building block for productivity.
What has been the hardest obstacle you’ve overcome?
Dealing with the recession that we started to see signs of in 2006, was difficult, and long-lasting. In my experience, nothing had really gone terribly out of control. There had been ebbs and flows, but they were manageable. However, when the recession hit, it felt like being an ant trying to hold back a tidal wave. It crashed on me in business and greatly impacted my personal life, as I had some health and personal problems that spiraled downward simultaneously. It took years to normalize. The last few years have worked out much better, and surprisingly, even with COVID, the industry has managed well so far. Hopefully, inflation will be staved off and the economy can keep on humming with nothing more than market corrections.
What is one piece of advice that you have never forgotten?
Do what you say you are going to do. Being reliable and trustworthy are fundamental components and building blocks for life.