Paul Beasley

Paul is a member of the Advanced Management Development Program in Real Estate (AMDP) Class 20, and recently spoke with us about his experience in the program.

You took the AMDP during an unprecedented period of disruption, having started in 2019, and then being unable to complete until 2021 due to the pandemic. Please discuss why you chose to do this program, and what your experience was like in it.

I chose to do the program initially after reading a blog written by a Len Shannon who is a real estate brokerage and development owner here in Birmingham.  I love trying new things and learning and his piece spoke to me about pushing yourself outside of your comfort zone.  My experience was everything I could have asked for and more.  I went to a typical lecture style college and had never participated in classes that used case studies and peer discussion like the AMDP program.  Within the first morning I realized that all of my conclusions on the case studies were wrong because I failed to spend any time thinking about all the possibilities.  It was eye opening and to this day, I now don’t respond immediately anymore to emails or questions without spending time trying to think of all the possibilities.  

“It’s made me a much better thinker and has forced me to slow down.”

We often hear from other AMDP alums how they formed companies in the AMDP and how the program changed their outlook on real estate. We heard from a current participant that you learned about an investment opportunity with a fellow AMDPer during the program that resulted in a windfall – you made back your AMDP tuition and then some. Could you tell that story? Are these deals common among AMDPers, even during the program?

Sure, I met a fellow AMDPer who was just about to kickoff a multifamily development project in Huntsville, AL.  He mentioned that he had a partner who it turned out we had done some past deals with so my business partner and I invested in it.   

“The project hit the peak of the market and we were able to double our investment in a short amount of time which covered my tuition plus some.”

We’ve subsequently invested in projects my classmates have done in Dallas, Austin, New England, and Mexico City.  Haven’t quite hit that first windfall level, but still hoping!  

You have been a CCIM since October 2008. How did the AMDP build on the CCIM program and how would you describe the program to fellow CCIM’s interested in AMDP?

To me, the CCIM was a chance for me to hone my financial analysis skills as I came from a non-financial background.  Although the AMDP program certainly spent time using those same skills, I feel like my takeaway was much more in how to think through problems from different viewpoints and how there are many different ways to come at those problems.  The other focus of the program is your classmates, over half of what I learned, I learned from talking to my classmates from all different walks of life and different countries.  Hearing how developers did things in Monterrey, MX versus Capetown versus Costa Rica or Columbia was really the star of the show.   Being in the middle of the pandemic actually gave us a lot more time with our classmates because it drew the process out, we still all talk constantly on WhatsApp and I make sure I see any AMDPer whenever I’m traveling in their city.  

“I would describe the program as a crash course in how to think differently and most importantly a chance to meet inspiring classmates who are looking to do the same thing.”