Tue, 30 July 2019
In this episode of the Real Estate Investing for Cash Flow podcast, Kevin talks to real estate and multifamily expert, Jesse Worcester. Jesse is the co-founder of Worcester Investments, a family owned real estate company based in Kansas City, Missouri. He also sits as director of fundraising for capital, building and maintaining investor relationships. In this podcast, Jesse talks about the market in Kansas and why Worcester Investment decided to move their business from Oregon to the midwest. Jesse describes value investing and the intrinsic value of real estate dependent on things that can be controlled instead of speculation. He explains why he prefers a vertical structure to outsourcing property management and construction. Jesse also offers some perspective on hiring and management, and even recommends books that helped him develop his philosophy on real estate.
QUOTES: “The most boring average markets often times are where you’re going to see your greatest cash flows assuming it’s not a dying city.” “In everything I’m doing, I want to be doing it thirty years from now so I don’t want to be betting on market timing, there’s a lot of risk factors that come into play when you’re speculating.” “Most great deals come from two situations: someone making a bad decision or it’s just being a situation that’s very unique where a great deal is able to be had.” “The driver behind the numbers of the property are the people who are working on the site whether they’re corporate officers or physically on the site.” “Culture and for us, how we treat individuals has been the single best determinant.”
HIGHLIGHTS: 7:48 Jesse’s background and how his company started 14:18 Jesse explains why they choose the midwest 17:35 What exactly is value investing? 24:16 Vertical management structure of Jesse’s company 29:25 Jesse talks about deals 37:13 Importance of having good underwriting 40:09 On hiring and keeping talents 48:00 Jesse on simplicity Recommended Resources:
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Direct download: Real_Estate_Investing_for_Cashflow_240_edited.mp3
Category:general -- posted at: 1:00am EST |
Tue, 23 July 2019
In this episode of the Real Estate Investing for Cashflow podcast, Kevin welcomes commercial real estate and finance expert, Ira Zlotowitz. Ira is the founder and president of Eastern Union Funding, one of the largest national real estate firm with over a hundred real estate professionals and they have closed more than $2.5 billion in just the last twelve months. QUOTES: “Over time we grew into all other deals, but we don’t forget our roots and we start this way, we find our niche and we double down on that area.” “As Eastern Union as the broker, we’ll typically work through full transactions, some look at $5 million, $3million or $100 million, we’ll find a lender for that sorts. Through the Ira group, it’s when the lender is looking for participation in loans, primarily bridge loans..” “I’m gonna bring people that want to participate into loans and bring them to crowdfunding platforms or to individual lenders throughout the country.” “What I also tell people is that the best deal that you should probably start with, if you’re about to invest equity in the deal, if you’re starting a bit nervous then it might be overpriced, maybe you can sit on that same deal and go to the debt side of that deal.” “You only want to try to do deals that the initial term are officially only twelve months.”
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Direct download: Real_Estate_Investing_for_Cashflow_239_edited.mp3
Category:general -- posted at: 1:00am EST |
Tue, 16 July 2019
This episode of The Real Estate Investing for CashFlow Podcast is joined by Omar Caraballo, CEO & Co-Founder of Arch Real Estate Holdings. QUOTES: "A lot of people associate blockchain with cryptocurrencies or bitcoin. But that's really just a very minor component."
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Tue, 9 July 2019
In this episode of the Real Estate Investing for Cash Flow Podcast, Kevin talks to real estate expert Ian Formigle. Ian is the vice president of investments at CrowdStreet, an online commercial real estate platform that helps diversify portfolios with institutional-quality, expertly reviewed, commercial real estate investments. He is also the author of the book “A Comprehensive Guide to Real Estate Investing”. In this podcast, Ian shares how he got into the business as a multi family home investor. He talks about the 2008 financial crisis and gives some insights into what could have been done better. Ian explains what they do at CrowdStreet and breaks down the process of how they connect and work with sponsors and investors. He also differentiates between three ways investors can invest through CrowdStreet. QUOTES: “Just because something is going better than you think it could go, well maybe you should ask yourself what’s going on there because probably it’s unsustainable.” “For every one hundred potential deals that show up on our doorstep, five of them actually make it onto the market place.” “If we’re going to be in a deal, there has to be a relevancy there, nobody’s doing this for fun, we’re doing it because there is a product market fit between sponsor and investor at the end of the day.” “So what we do is we give investors good tools to analyze and track their portfolio in their own dashboard and so that’s what the investors look in for, and so we are the communication infrastructure…” “These days, we’re finding that the typical sponsor on the market place has started on average to over two billion dollar worth of deals, has been in multiple markets and has ten plus years of operating experience in the entity level.”
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Direct download: Real_Estate_Investing_for_Cashflow_237_edited.mp3
Category:general -- posted at: 1:00am EST |
Tue, 2 July 2019
In this episode of Real Estate Investing for Cashflow, Kevin welcomes real estate and technology expert, Diane Vrkic. Diane is the founder and CEO of Waypoint, a platform whose mission is to build tools that let real estate owners and operators capitalize on their data and maximize performance of their teams and portfolios. In the podcast, Diane talks about finding her calling in real estate while being a medical student and how she came to identify some problems in the way the business operates. Diane then gives a detailed outlook on how Waypoint works and how the platform’s operational services differ in terms of the client’s company size. She also shares some important values in Waypoint’s company culture and how their team is motivated. QUOTES:
“What you really have to do is to find something that you really love doing, it can’t just be the idea of what you’re doing, it has to be the day-to-day..” “What’s really interesting to me about real estate is that all the information is done manually, and it’s done on a one-off basis for individual assets, the information is not able to be leveraged in a meaningful way and the work kind of sucks.” “When you have wonderful, exceptional people, you have to enable them to be thinking above and beyond, so that you’re continuously driving value in ways that your competitors are not.” “Every investment professional needs to have all of the information about every one of their investments at their fingertips—they can do that within Waypoint, and then they can essentially have a system that’s also working to support some of the work around tracking, managing, identifying when things are not working according to plan, and just allowing for there to be a system that is essentially a record for the day-to-day performance management.” “The common thread at Waypoint is that folks are really intrinsically motivated.”
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Direct download: Real_Estate_Investing_for_Cashflow_236_edited.mp3
Category:general -- posted at: 1:00am EST |
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