Siqi Chen interviews his brother-in-law, Sanjiv Chopra, about his journey from being a real estate broker to building a $1.5 billion real estate portfolio in just a decade. Sanjiv shares his early career experiences, including a setback where he incurred $15 million in debt due to a client's financial troubles. He discusses how he repaid the debt by venturing into the gym business, eventually building a chain of 82 stores. Sanjiv also details his transition back into real estate, using strategies like option agreements and double escrows to acquire properties and create value. He emphasizes the importance of relationships, learning from failures, and focusing on adding value to properties to achieve high returns. The conversation also touches on retail trends, the value of experiential retail, and the significance of location in real estate.
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