Growing up in Stamford, Connecticut, Anthony Colich was introduced to the real estate industry from a very young age.
Since his family ran a real estate development company, he learned the language, techniques, and local business methods before graduating from high school. Growing up in this charged environment has given birth to a lifelong love for the real estate and housing market. While in high school, he helped his grandfather with the essentials of apartment care and real estate maintenance. These experiences provided the foundation for the knowledge that he would later use throughout his career.
Over time, he started Colich Holdings, a property management company based in Stanford, Connecticut. His efforts led the company to rapid growth. Over time, he expanded it into commercial real estate with his residential assets. Colich Holdings successfully navigated the 2008 real estate recession, where many more companies collapsed under pressure, continuing to improve and operate more than a thousand apartments to date. From the start of his first business, Anthony teamed up with a partner to build a second; Empire Residential. These residential and commercial real estate development companies continue to grow year after year.
One of its founders, Anthony Colich, has repeatedly said that the creative nature of the real estate business inspires him to constantly develop new and more ambitious projects.
What do you currently do in your company?
I oversee projects, facilitate new development options, and guide our teams working on site. Every day is busy involving a lot of supervision, but we have great people working with us. An extraordinary boon for that company. Having good people in your team makes it a lot easier for everyone to see and share, especially for projects and the company as a whole.
What was the inspiration behind your business name?
My partner and I own 50/50 companies. One day we said, “Let’s build an empire”, which was quickly followed, “It’s a great name. Let’s call it Empire Residential. “At the time, we were only dealing with residential apartments, hence the name. Now, of course, we’ve expanded to commercial property.
What can you share in being productive?
I think the keys to being productive are perseverance, perseverance, great work ethic, continuous development and learning time. By developing these vague features and applying them to your goals, you can achieve anything. I try to apply all this in my efforts every day.
How do you measure success?
There are different ways to define success, it is a necessity to be wise. Being aware of your industry, your options and all the important elements of finding your current market success. It is important to be sure of what is happening in the market to identify the best time to engage in a project. So, I would say that you have succeeded in the real estate industry by doing all these things. Success is measured not only by money, but also by being able to pick and develop projects of your choice. Without reading, planning and effort no one will find such a place in their career.
What is the most valuable lesson you have learned through your career?
Read on. Everything you read is a way to keep up to date with trends, situations and opportunities. It’s a way of continuing lessons in the industry, as well as leading and continuing new ventures. The ever-increasing trend of self-storage units such as books, articles, blogs and web content is reflected in many channels, but not everyone needs to read it. That way you’ll learn about features like improved ventilation and filtration systems installed in apartment units that make apartment life healthier and better for tenants. Yes, it was inspired and pushed by the Kovid epidemic, but it is not going anywhere after the virus is gone — many people are learning the value of having a home designed for healthy living.
What advice would you give to others who are aspiring to be successful in your case?
Based on what I have learned and learned, I would say go with your gut. It was not uncommon for me to put off and dismiss my gut instincts early in my career. It became something I regret. Indeed, it has proven to be a significant learning curve. Some of the deals disappeared when I was hesitant and would be beneficial and helpful to the communities for which they were intended. If your gut is telling you it’s a good deal, you should take it; You should sign the contract. I would also like to mention that hard work combined with hunger is important for results in this industry. No matter what school you go to or with whom you play golf, unless you apply yourself to the best of your ability, you will build your own destiny and your own success. This may require knocking on the door, driving through the building to get the address, or making a cold call to the owners, but in case of trying, you will succeed in the end, even if only once in a hundred attempts. But if you don’t make that effort, you won’t get that one success story. I live by the model where the harder you work, the luckier you are because you are making that fortune. I really believe that.
What are some of your favorite things outside of work? How do you balance a difficult work life?
I love spending time with my kids. I am a divorced father, but not a missing person. Making time for them and incorporating them into what I can do is an important part of my routine on and off the job. In addition to spending time with my kids, I value good health. I enjoy running and being active in my off time. Keeping work and life separate is important but challenging. You just have to be more discriminating with the help you render toward other people. It is important to remember the most important things in life and take the necessary steps to prioritize those things properly.
What is the part of technology that helps you the most in your daily routine?
I would say real estate search engine. We use them every day in this business. It is both a research market tool and a tool for developing our strategy for a given area. Using multiple sites, we get to see different perspectives and this allows us to visualize a bigger picture for the area in question and create a special focus for our own position in the industry.
Success requires dedication. How do you continue to be dedicated to each new project?
That’s a good question. I think every new project is a new opportunity to create something unique and useful for a community. When you like what you are doing, the transition from one such project to another only fuels the dedication. Doing what you are passionate about makes it easier to move forward and constantly renew that dedication.
What advice would you give to get started in this industry?
Read on and keep reading. This way you will monitor the marketplace and learn exactly what you want to learn. Having a strong foundation in knowledge is the foundation of success.