Acquisition Principles

Over the years, I’ve refined a set of guiding principles that we use today for luxury SFL acquisitions at Jack Laurier.

Here are our top 10:

1. The best deals are low risk. There’s enough upside inherent in the asset class and our operating model. The nominally higher projected returns on riskier deals aren’t worth the volatility, execution challenges, and potential downside.

2. Slow is fast. Like many counterintuitive aspects of luxury business, luxury real estate rewards precision, patience, and a deep understanding of nuance, far more than speed.

3. Don't try to time the market. The asset class is exceptionally resilient to macroeconomic volatility. The biggest benefits come from the uninterrupted compounding of value over time.

4. Only invest in deals that align with and reinforce our core thesis.

5. Only acquire assets we’d be happy to own forever.

6. Always think about the next buyer. Only focus on properties that have deep buyer pools and don’t do things that will limit the future buyer pool.

7. People miss good opportunities all the time. Don’t assume something is “too good to be true.” If the asset fits the core thesis, put an offer in.

8. Stay exceptionally disciplined in negotiations, always shop the comps, and know the numbers.

9. Pay more attention to the details than anyone else. For instance, when we perform due diligence, walk the entire property and make sure to get a real sense and feel of the space.

10. Never skip the fundamentals.