and caring about results,” Balagia said.
”CHARACTERBUILDING” YEARS Balagia cites the culture of ownership as one of the reasons the company was able to keep the doors open during the Great Recession. Balagia refers to that time period as “character-building years.” It was a particularly tricky time for a young real estate finance firm. “Everyone wanted to get out of real estate,” Balagia said. He briefly considered getting a side gig but decided to train his full focus on the company. He had brought investors into the market, so he focused on getting them out of it with the best possible outcomes. “We tipped our head down and did everything we could each day,” he said. Balagia learned valuable lessons during that time. Dealing with foreclosures “took away the fear factor,” he said. And he saw that the market eventually turns around. “When we have another recession—hopefully not a Great
Recession—we know that we don’t stop. We provide solutions that bless everyone rather than be vultures,” he said.
DRIVE TIME When he needs an off-ramp from work, Balagia turns to his collection of sports cars and a racetrack in Austin. “One thing I like about them is when you’re engaged in driving at the track, you get in the zone and the stresses of the day or the season melt away when you’re hitting that corner just right. It makes everything very real and brings you to the present moment,” he said. When driving at high speeds, “nothing really matters if you don’t get through this present moment.” Balagia’s interest isn’t in just the cars. It’s also in the power they have and how they make you feel when you’re in the driver’s seat, he said. His collection includes a Lamborghini Huracán, Nissan GTR, BMW M5, 1969 Corvette and a Honda S2000. He’s not clamoring to add a self-driving car. “I think the world will be a safer place, but I hate being put in a box and having to go with the flow. That’s why I like driving,” he said.
SEEING DREAMS COME TRUE
ABOUT THE AUTHOR
Although he can’t always steer the outcome, Balagia has enjoyed being part of the real estate industry. “Real estate is great because we see the benefit of projects we finance,” he said. Balagia has seen some parts of Austin visibly change, partly through Stallion Funding investments. He’s witnessed underutilized areas come back to life, rundown buildings get a facelift and even crime rates come down in some areas, thanks in part to redevelopment. He’s also seen builders “make their dreams come true” by starting out on smaller rehabs and moving onto increasingly larger jobs.
KATIE BEAN Katie Bean is a former newspaper and magazine editor
who loves telling the stories of businesses and great leaders. She is based in Kansas City.
“It’s very satisfying to see others in a much better place because they partnered with us,” he said. Seeing the tangible results of the company’s work makes it far more rewarding than traditional investing, Balagia said. “Real estate really connects with people. We all need to have a place we call home.” ∞
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