Exclusive Billionaire Interview with Daniel Kaufman

Richard C. Wilson:
So Daniel’s a real estate developer, manages several billion dollars worth of real estate and hospitality, multifamily, land development. He oversees zoning, permitting, financing, underwriting and due diligence across the real estate platform. They look at all different types of real estate asset classes, and he’s developed over 1,800 units with various affordable mixed-income projects and mixed-use projects, and over 2,200 units of market-rate projects as well, including some hospitality projects recently. What else would you add about your background or perspective?

Daniel Kaufman:
I think one of the interesting stories here is where it all started. My grandfather started a company called KB Home. He unfortunately passed away in an airplane crash in 1983. I was very young at the time, and very blessed that the control of the equity of that company went to me. We didn’t have a family office then. Later, when I got into college, we sold our interest in the company to Blackstone, and that started the Kaufman Family Office.
Most of what I do today stays connected to real estate. We’re a homebuilding family, a real estate family. Recently, we even acquired a civil engineering firm because that falls into what we do.

Richard C. Wilson:
Can you talk about the vertical integration a little bit more? How extensive have you looked at things strategically?

Daniel Kaufman:
We’re fully vertically integrated across the board. From acquiring land, zoning entitlements, and land use planning—we’ve acquired companies to handle those. We bought an architecture firm last year. We also acquired a construction company, asset management, and property management firms. Anywhere we didn’t have in-house competency, we solved the choke point through acquisitions. Now, we’re looking at proptech and fintech plays that benefit the company.

Richard C. Wilson:
We have next-gen family members in the room. What advice would you give them about getting started in real estate?

Daniel Kaufman:
Even though I inherited a family office, when I was 18 I went out and acquired two properties in Detroit to learn it myself. That was 1992. I borrowed $10,000 from my parents and bought two homes. One I sold after a few years, the other I held for decades and sold recently at a much higher price.
Starting small is very important. Stick to what you know, don’t be afraid to fail. We fail all the time. The key is learning, picking yourself up, and improving as a team.

Richard C. Wilson:
If you didn’t go to school as a civil engineer, how do you approach vertical integration while sticking to what you know?

Daniel Kaufman:
That’s exactly why we acquire instead of trying to do everything ourselves. I’m not a civil engineer. I studied architecture, but I’m not a practicing architect. What I am good at is real estate development, knowing people, and creating deals. I don’t like operations, so I hired a strong CEO to run that side.

Like Richard Branson, I find the smartest people and companies and stitch everything together. Even if we’re not experts in fintech or proptech, if it benefits us, we acquire it.

Richard C. Wilson:
What have you figured out the hard way that allowed you to scale to billions, where most get stuck at millions?

Daniel Kaufman:
The biggest failure in real estate is ego. Too many developers want their names on buildings or build trophy assets. We just build what the market wants. We also don’t build for ourselves. One of my failures was in Texas—we designed a project as if we were going to live there. It was over-designed, over-complicated, and a financial failure. We vowed never to repeat that mistake.

Richard C. Wilson:
What would have made your journey twice as successful or more enjoyable if you had heard it earlier in your career?

Daniel Kaufman:
Not letting ego guide you. Bringing in partners smarter than you are. Early on, I thought I knew everything. With time, I realized it’s okay to say, “I don’t know.” That’s been one of the best lessons.

Richard C. Wilson:
How do you vet partners? What do you look for?

Daniel Kaufman:
I invest in people first. I look at their stories, their origin stories. Real estate is people-driven and emotional. Technology can’t replace that. I focus on the relationship and cultural fit first, then the data. My partner, a data scientist, dives into the numbers afterward.

Richard C. Wilson:
How do you allocate and protect your time?

Daniel Kaufman:
Last year was a disaster for me organizationally. I hired four assistants who now run my schedule. I realized I’m not good at time management, so I put people in place who are. That’s been a game changer.

Richard C. Wilson:
What advice do you have for someone trying to get a meeting with a billion-dollar family office if they can’t meet in person at an event?

Daniel Kaufman:
Don’t do it through LinkedIn. I don’t run my own LinkedIn, and I get hundreds of messages that I’ll never see. Go through connectors—people like Richard. Find introductions through trusted gatekeepers. Random DMs or emails rarely get through.

Richard C. Wilson:
What does a cold email or message look like if it actually gets through?

Daniel Kaufman:
For me, it usually doesn’t. I get 400–500 emails a day. The rare exception is a personal text from someone I know, saying, “Can you spare five minutes to talk to this person?” That works. Short, clear, and personal messages are the only ones I respond to.

Richard C. Wilson:
After the initial connection, do you prefer Zooms, calls, or in-person?

Daniel Kaufman:
I’m not a big Zoom person. If it’s worth it, I’ll fly and meet in person. My assistants screen first. If the person passes that, I’ll meet them. Sometimes I use the “mom test”—if my 79-year-old mom understands the pitch, it’s worth a conversation.

Richard C. Wilson:
What’s a question people should ask you, but usually don’t?

Daniel Kaufman:
Not many people ask about me. They rush into asking for money. Building a real relationship matters more. We recently invested $16.5 million into a Kimpton in Cincinnati, not because the fundamentals were perfect, but because the sponsor took time to really get to know us.

Richard C. Wilson:
Do you have a preferred deal structure, or are you flexible?

Daniel Kaufman:
We’re very opportunistic. No two deals we’ve done in the past two years are alike. We focus on the culture fit and experience first. We’re hands off, but we provide resources if asked. The best partners see value in our platform and want to use it.

Richard C. Wilson:
For your family office, are you more motivated by capital protection, income, or innovation?

Daniel Kaufman:
I like to be surprised. We want deals no one else knows about—not shopped around OMs. Show me you’ve done the work and found something unique. That’s what excites us.

Richard C. Wilson:
How do you source those off-market opportunities?

Daniel Kaufman:
We monitor 323 markets across the U.S. regularly. Once we identify markets and assets we like, we’ll approach owners directly—even if nothing is for sale. That’s how we’ve acquired distressed assets that weren’t on the market.

Richard C. Wilson:
What are the top three most powerful pieces of advice for building a platform?

Daniel Kaufman:

1. Focus on people first—it’s always about the person.
2. Don’t get lazy with Zoom—make the effort to meet in person and show you really want the deal.
3. Effort matters. Hunger and going the extra mile are what make deals happen.

Richard C. Wilson:
Any final comments before we close?

Daniel Kaufman:
If you’re interested in working with us, seek Richard out to connect us. We’re here looking for deals. We have more capital than places to allocate it, so we’re searching for opportunities others may not know about.