Stephen Roulac’s love affair with the real estate industry dates back to his childhood in Pasadena. His father owned a real estate construction and development firm there, and dinner table conversation often centered around his latest deals. Roulac started working for the business in high school; he was supervising the construction of apartment complexes by the time he got to college. It was solid experience for Roulac, who today runs what is probably the nation’s most respected real estate consulting and publications firm, inside a cramped suite of offices in San Fran- cisco. “I felt I could have a bigger impact working in an advisory capacity on the investment side of the business than I could as a developer,” lie says. First, he armed himself with degrees: an MBA from Harvard, a law degree from Berkeley, a doctorate from Stanford and CPA credentials. Now Roulac is concentrating on expanding his firm, Stephen Roulac & Co., which did about $4 million in revenues in its fiscal year ending in September. The firm now is growing at a 50 percent annual rate and Roulac has 60 employees. At any one time, the company is advising about 50 major corporations, real estate developers and Wall Street investment firms about real estate investment strategies.
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