#366: Numbers & People: How Brian & Kent Roers Built a Multi-Billion Dollar Real Estate Empire

Brian Roers of Roers Companies shares his inspiring entrepreneurial journey in a recent podcast. Born into a family of entrepreneurs and with a foundation in accounting, Brian and his brother Kent transitioned into real estate, amassing a $2.2 billion portfolio. They raised—and continue to raise—funds by prioritizing personal relationships and catering to the “everyday investor” over traditional institutional funding. However, it hasn't all been smooth sailing. Through challenges like the 2009 financial crisis and the COVID-19 pandemic, Brian shares compelling stories of resilience, emphasizing the importance of trust, transparency, and a robust corporate culture that prioritizes family orientation, competition, and clear goal-setting. As Brian aptly puts it: "You can never imagine what you're gonna accomplish unless you push on it."

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Main Takeaways:

1. Be Flexible & Open to Change: Brian Roers went through an evolution in his professional life, starting with an early immersion in business due to his parents, to majoring in accounting and management, and eventually owning a CPA firm. His journey then took another significant pivot when he chose to move into real estate, partnering with his brother, Kent, where they have now invested Billions of dollars for their investors. Brian’s story emphasizes the importance of being adaptable and open to new opportunities that align with one's skills, interests, and values.

2. Relationships and Investment Philosophy: Brian and his partner Kent's approach to raising funds was notable. Instead of traditional institutional funding, they relied on personal relationships, raising significant amounts from friends and family. This speaks to the power of personal connections in the business realm and the importance of seeing investors as partners. By offering direct real estate investment opportunities and being transparent about numbers, they've successfully developed over $2.2 billion, aiming for even loftier goals in the future

3. Trust, Transparency, and Corporate Culture: A significant portion of the conversation revolved around trust. Brian placed considerable trust in his team, exemplified by his story about Shane LaFave. He believes that the success of their real estate venture is rooted in the trust their investors place in them. Furthermore, their transparent approach to dealing with investors, even in unfavorable situations, has strengthened the bond with their investor base. Lastly, the emphasis on defining and upholding a corporate culture that is family-oriented, competitive, and goal-driven is pivotal in fostering a conducive work environment and setting clear expectations for new hires.

Bio:

Brian is a co-founder and owner of Roers Companies. He started his career in real estate more than 15 years ago, purchasing single-family homes, duplexes, and student housing around the University of Minnesota. After gaining his CPA license in 2002, Brian co-founded Anderson & Roers CPAs, in which he held 50% partnership until launching Roers Companies with brother Kent Roers in 2012.

Today, Brian oversees operations for Roers Cos., working closely with the firm’s finance, marketing, and property management leaders to drive revenue growth. He works alongside the executive leadership team to set the vision and strategy for the company, which is aiming to reach a total of $5 billion in real estate and 20,000 units developed by 2025. The firm was named to the NMHC Top 25 developers list in 2023 and earned a Minnesota Real Estate Award for Developer of the Year in 2023. The sustained combined growth of Roers Cos. and its property management business (previously branded as Core Living) earned the company a position on the prestigious Inc. 5000 list of the nation’s most successful private companies for three consecutive years.

Brian has also earned individual honors in recent years. In 2018, Brian was named a Minneapolis/St. Paul Business Journal “40 Under 40” honoree. In 2021, he and Kent Roers were named as finalists in the Ernst & Young Entrepreneur of the Year Awards for the Heartland region.

Interview Quotes:

21:20 - "You can never imagine what you're gonna accomplish unless you push on it." - Brian Roers

22:00 - "The impact you can have out there is just so much more." - Brian Roers

28:33 - "You believed in me and you just told me to go do it. And you checked in, but I wasn't babysitting in my book." - Brian Roers

32:40 - "One of those things you can see and you can feel, but you can't touch. Totally agree with that, right? But let's write it down." - Brian Roers

37:40 - “I don't want you to look back and say, I could have done more here. I'm like, I want you to look back and be like, I never dreamed I could do this. I could accomplish this. I could create this.” - Brian Roers

56:10 - “Those investors are what have built the $2.2 billion that we've done." - Brian Roers

1:03:50 - “The more people we can work with, the more individual investors we can keep growing this thing. And that's, that's been the fun part about it.” - Brian Roers