The Outsider

Today’s Newsletter is a mini biography of Rochester’s Real Estate Developer Joel Barrett in Richard Zitrin’s words.

Obsession is in real estate developer Joel Barrett’s DNA. It has been part of his personality since he was a child and, at a young age, spent the better part of a year saving allowance money and cashing in empty soft drink cans so he could assemble a complete 792-card set of 1986 Topps baseball cards. Barrett’s obsession and work ethic also led him to get a Democrat and Chronicle delivery route at the age of 11, and then a job in the seventh grade as a bus boy at the Irondequoit Town Lounge and held both concurrently until 10 th grade. He also was obsessed at the time with the New York Mets and spent hours upon hours throwing and hitting baseballs against the fence in his Irondequoit backyard in a quest to become a better player. Along the way, Barrett realized he needs difficult, complicated or physically and mentally challenging tasks to stay focused.

He learned his ability to focus on an seemingly insurmountable task allowed him to clear his mind and keep distractions at bay. He wasn’t afraid to spend an entire day on a physical activity because it allowed his mind to stop racing or obsessing about his life and what he was going to do with it.  Physical activity allowed him to focus, and sports and intellectual pursuits became the foundation of his life. Barrett credits working and exercising through college at St. John Fisher University with improving his grades overwhat they were at Irondequoit High School. He came to believe that each of us has the potential to do something more than we are currently doing. Throughout the last few years of college, he would work nearly 30 hours per week, go to school full time and work out at the gym every day,  sometimes twice a day. 

Now, as a 45-year-old real estate developer largely focuses on commercial redevelopment, he often sees himself reflected in the buildings that he restores — a lifelong work in progress. He fears the obvious — crumbling walls, dilapidated interiors, vacancies, costs – but the excitement drives him forward. Barrett also recognizes the necessity to surround himself with smart, talented, honest and hardworking people to help him on his journey.

His advice for others interested in real estate is to buy something, anything, and hold on to it. Real estate investment is a long-term game, make decisions you can live with for 20 years – time heals all wounds and mistakes. The first few properties you should live in, fix up and rent out, which should allow you to live rent free and fund your car payment.  When your house and car are paid for, your pursuits and interest become easier.

“Owning real estate is really the American dream,” Barrett says. “But if you aren’t born with it, you’ll need to work twice as hard to build it.”

By Richard Zitrin

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