POWERS #316 - John Goff - Founder @ Goff Capital Partners
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Oct 24, 2023 John Goff, an investor based in Fort Worth, Texas, talks with Chris about his career working with Richard Rainwater, building and selling Crescent Real Estate, insights on the current real estate market, and the challenges and opportunities facing Fort Worth.
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Banker's Trust in Rainwater's Office
- Banker's Trust opened an office inside Rainwater's office to gain access to deal flow.
- This unconventional setup highlights Rainwater's creative and playful approach to business.
Crescent's Origin
- The idea for Crescent Real Estate originated from John Goff's work with Roger Staubach.
- Goff identified an opportunity in the tenant representation business and later presented a one-page plan to Rainwater.
Selling Crescent
- John Goff decided to sell Crescent Real Estate to Morgan Stanley in 2007 based on his gut feeling.
- Despite the board's initial resistance, he convinced them by returning his compensation plan.