x
DJ Van Keuren
Founder, Family Office Real Estate Institute
In this conversation, DJ Van Keuren shares his insights on generational wealth, the intricacies of family offices, and the importance of governance and patient capital. He discusses his journey from a small town in New York to becoming a key player in the family office space, emphasizing the need for detailed underwriting and stress testing in investments.
Most wealthy families lose the wealth. 70% of families lose their wealth by the second generation and 90% by the third — and governance, not deal flow, is the number one gap DJ sees.
Patient capital changes how you underwrite. Family office money is personal money with no gun to the head to deploy, so DJ stress-tests exit cap rates and vacancy instead of chasing fantasy models.
Real estate moves in 18.6-year cycles. DJ uses the long cycle to time risk and predicts a 2026 recession — his advice is to take the long view, the same lesson he learned selling Amazon at $18.
Vet your JV partners like a family office. Red flags include high fees, no skin in the game, and fantasy projections — and always ask how many properties a sponsor gave back in the last recession.
