Investing in Phoenix and Detroit May Seem Counterintuitive; Ed Indvik of Lee & Associates Believes It’s the Right Move
It’s hard not to like Ed Indvik. As he walked away from our interview at RECON, he slung his backpack over his shoulder looking like a 20-year-old. I couldn’t get him to take any credit for the success that he’s achieved over the last 7 years as President of Lee & Associates, with 47 offices run by the brokers themselves and a dominante role in Southern California.
Really, I get the Phoenix investment. He has been there for 20 years and experienced the ups and downs of the Phoenix market over that time. But seriously, investing in Detroit? Hold your horses there, Charlie! Ed is well aware of the problems in Detroit, but he also knows that there are some tremendous opportunities that come with them and believes that with the top people and some patience there will be a lot of money to be made. I agree.
Ed proudly wears the mantle of a great leader, as I suggested during the interview because he surrounds himself with even greater people and support. There is no false modesty here.
Finally, I couldn’t help including some candid and intended to be “off camera” comments at the end of the clip because they were so genuine, from both of us.