Episode 8: Texas with Bob Cromwell, II
Updated: Aug 28, 2020
Relationships > Transactions: Trading our time for money
During a TCN Worldwide Principal's Conference, Derek interviews Bob Cromwell, II of Moody Rambin in Houston, TX. Bob joined Moody Rambin in the 80's and found his way into ownership through a unique proposition from a buyer. Bob values long-term relationships and repeat clients.
"Coming from an owner’s perspective, it changes the dynamic in saying here’s the deal, here’s why I like it, here’s the rent growth, and can I put some money in with you?"
Bob is a champion of brokers owning property. He recommends that Moody Rambin brokers save 6 months worth of expenses before investing. He knows that once they invest in a deal, it gets contagious and encourages his brokers to go out and look for more opportunities.
Often, ownership is not presented as an option for younger brokers at larger national and international firms. Bob knows that investment opportunities set smaller firms apart as a recruitment tool for entrepreneurial brokers. Derek and Bob discuss his proudest deals and those he wishes he hadn’t done.
Bob joined Moody Rambin in 1994 bringing his office agency leasing experience to the firm. Bob has leased office properties throughout the Houston metro market for numerous clients from high net worth individuals to national institutional clients. As Managing Director and over thirty years in office leasing, Bob directs the daily operations with a team of tenured agency leasing office professionals.
Prior to joining Moody Rambin, Bob started commercial real estate in 1983 with a local developer Don Mafrige Real Estate where he focused on interior construction and office property management. In 1988, Bob joined Everest Funds and worked under the late Howard Weathers where he transitioned from property management to landlord focused leased transactions.