Preston Byrd is a successful business executive, consultant, author, and speaker. As the Managing Partner for Horizon Companies, he focuses on multifamily housing development throughout the southeastern and mid-west regions of the United States. His book, “I Don’t Rent, I Rent,” provides insights into his approach to business and the secrets to his success. In this blog post, we will delve into the key takeaways from Preston Byrd’s book and how they relate to his leadership at Horizon Companies.
Site Selection Matters
Preston Byrd emphasizes the importance of site selection in real estate development. He advises investors and developers to look beyond the current market trends and instead focus on emerging areas that show growth potential. By selecting the right site, investors can create a long-term asset that will continue to appreciate over time. This approach has been instrumental in the success of Horizon Companies, as they have identified promising locations and developed high-quality properties that attract tenants and investors alike.
Structured Financing is Key
Another vital aspect of real estate development is structured financing. Preston Byrd’s book highlights the various financing options, including private equity, taxable and tax-exempt bonds, tax credit equity, and traditional institutional capital. By leveraging a combination of these sources, investors can maximize their returns and reduce their risks. Preston Byrd’s expertise in structured financing has helped Horizon Companies secure the funding they need to develop their properties and achieve their business goals.
Continuous Innovation
Innovation is a key driver of success in any business. Preston Byrd encourages entrepreneurs to embrace new ideas and approaches that add value to their ventures. He stresses the importance of continuous innovation, which involves regularly evaluating and improving existing processes and products. By staying ahead of the curve, entrepreneurs can differentiate themselves from the competition and create a sustainable advantage. This approach has been integral to Preston Byrd’s success at Horizon Companies, as they have been able to innovate and adapt to changing market conditions.
Passion and Persistence
Finally, Preston Byrd’s book highlights the importance of passion and persistence in business. He believes that entrepreneurs must be passionate about their ventures and willing to persevere through challenges and setbacks. This requires a deep commitment to the business and a willingness to put in the hard work necessary to achieve success. Byrd’s passion for real estate development has been evident throughout his career, and it has been a driving force behind the growth and success of Horizon Companies.
Bottom Line
Preston Byrd’s book, “I Don’t Rent, I Rent,” provides valuable insights into his approach to business and the secrets to his success. By focusing on site selection, structured financing, continuous innovation, and passion and persistence, Preston Byrd has been able to build a successful career in real estate development. These same principles have guided his leadership at Horizon Companies, where he has helped the company achieve significant growth and success. If you are interested in learning more about Preston Byrd and Horizon Companies, visit his website and explore his latest projects and developments.
