Fri, 31 December 2021
#377 FBF: Breaking the Institutional Barriers of Multifamily and Setting Sights on 20,000+ Doors - with Brian Burke
Today's Flash Back Friday Episode is from Episode #198 that originally aired In October of 2018.
In this episode of the Real Estate Investing for Cash Flow Podcast, Kevin shares the mic with CEO of Praxis Capital, Brian Burke.
Wed, 29 December 2021
#376 MHP: RV Parks vs. Mobile Home Parks…One Man’s Case of Why RV Parks Reign Superior – with Steve Tomaso
Today's Mobile Home Park Episode is from Episode #71 that originally aired on June 06, 2017.
Mon, 27 December 2021
Ken McElroy is a Real Estate Investment Expert and Best Selling Author.
Ken has experienced great success in real estate–from investment analysis and property management to acquisitions and property development. With more than $3.8 billion of real estate purchased in the last 2 decades, Ken offers a unique perspective on how you will get the biggest return on your investment dollars.
“You have to actually ask yourself those questions: What was good? What was bad? And what did we miss here?”
“There are a bunch of factors, especially with this pandemic, that has changed migration for good. One is political, but you are going to start to see the policies for being a landlord or even property taxes, I think are going to shift peoples views on where they want to own stuff…then you have the weather, safety issues, work from home issues…”
1:54 - Ken tells listeners more about his background in real estate.
07:02 - Ken shares his thoughts on the current cap rates and real estate market.
12:32 - Ken discusses the issues around the properties his company wasn’t able to flip.
18:03 - Ken talks about how to identify the great performing properties from those that aren’t.
21:08 - Ken provides insight into how he is preparing for the future.
26:43 - Ken touches on his company’s current investments.
29:25 - Ken describes the risks and interest rate expansions with his deals.
33:59 - Ken explains the determination of rounding-up and existing in the market.
38:40 - Ken considers the imbalances of C-Grade properties and their risks.
44:54 - Ken answers Kevin’s golden nugget question.
Fri, 24 December 2021
#374 FBF: How to Build a Sustainable Laundromat Business with High Double-Digit Returns - with Brian Brunckhorst
Today's Flash Back Friday Episode is from Episode #171 that originally aired in February of 2018.
Brian and his wife currently own and manage five Laundromats as well as several other private business and Real Estate ventures. Additionally, in 2009, Brian also co-authored a book titled, "Seize Your Opportunities - How to live your life without limits", was an expert panelist at the laundry industries Semi-Annual Clean Show tradeshow, and was elected to the Board of Directors of the Golden State Coin Laundry Association where he now serves as President.
In addition to his entrepreneurial ventures, Brian also devotes time to giving back to others by speaking to kids in schools about being an Entrepreneur, teaching educational classes around Laundromat ownership, and helping others achieve their dreams through one-on-one coaching and mentoring.
Wed, 22 December 2021
Today's Mobile Home Park Episode is from Episode #37 that originally aired on Nov 29, 2016.
Mon, 20 December 2021
Drew Wahlgren is a Commercial Real estate expert.
Drew is the Co-Founder and Director of Capital Markets for MAG Capital Partners. MAG Capital Partners specializes in sale-leasebacks, net lease investments, and various development projects throughout the US.
“We are really purchasing a property from a commercial business that has generally operated on a property for a long time.”
1:20 - Drew tells listeners more about his background in real estate.
08:02 - Drew shares his thoughts on sale-leaseback strategies.
12:40 - Drew discusses the utilization of capital from sale-leasebacks.
14:27 - Drew talks about transaction sizes and a deal that MAG Capital has passed on and why.
18:50 - Drew provides insight into how to mitigate risk.
24:14 - Drew touches on MAG Capital’s typical hold period.
25:46 - Drew talks about the tax advantages to his company’s industrial properties.
26:57 - Drew speaks about sourcing deals for sale-leasebacks.
31:25 - Drew answers Kevin’s golden nugget question.
Fri, 17 December 2021
#371 FBF: Learn why Ground Lease Investments are one of the Safest and Low Risk Commercial Investments – with Steven Waldman
Today's Flash Back Friday Episode is from Episode #113 that originally aired in May of 2016.
Our guest for this week’s show is Ground Lease Investment Expert and president of ground lease capital partners, Steven Waldman.
In today’s interview with Steven, we’re going to discuss how to generate long-term and low-risk income streams by investing in what he calls the “ultimate passive commercial investment vehicle”, which are ground leases.
Steven is one of the foremost experts in the industry and has spent his entire career focused on this specific niche, and having been involved in more than $1.5 billion dollars worth of transactions, I’d say he’s highly qualified to speak with us today on this exciting topic.
In this show with Steven you’re going to learn:
Wed, 15 December 2021
#370 MHP: Understanding Mobile Home Park Appraisals, Market Trends, and Accurate Park Evaluations - with Erik Hanson
Today's Mobile Home Park Episode is from Episode #26 that originally aired on Sep 20, 2016.
Mon, 13 December 2021
Will Mercer is a Real Estate Investor, Developer, and Entrepreneur.
Will is the Founder & CEO of Umaya Village, a community of remote workers and teams nestled on a paradise beach in Belize. Prior to Umaya, Will was Venture Director at Zag, the investment arm of global creative agency BBH. In his role, he led investments into 9 companies and oversaw a portfolio of 30 ventures which doubled in value during his tenure.
“When the pandemic hit, attitudes towards remote work changed irreversibly forever. I think that’s the fundamental thing that people really need to understand which is that this isn’t going away.”
2:02 - Will tells listeners more about his background in real estate.
08:26 - Will shares his thoughts on the future of co-working in a post-covid world.
10:45 - Will discusses the impact the pandemic had on opportunities and office spaces.
17:47 - Will talks about the mechanics and finances of Umaya Village.
19:41 - Will provides insight into how Umaya Village operates.
23:09 - Will touches on what his business plan brings to the table.
26:16 - Will describes his business model’s scalability.
Fri, 10 December 2021
Today's Flash Back Friday Episode is from Episode #91 that originally aired in October of 2015.
In this show with Jerry you’re going to learn:
Wed, 8 December 2021
Today's Mobile Home Park Episode is from Episode #122 that originally aired on Jan 06, 2021.
Mon, 6 December 2021
Michael is a principal at Origin Investments, a private real estate investment firm that operates more than 5,000 multi-family units in 14 cities, across 8 states.
Michael brings 25 years of investment and risk management experience to the company and believes that calculated risk-taking in inefficient markets is the key to building wealth. After a 16 year trading career, Michael retired from trading in late 2005.
In 2007, Michael and business partner founded Origin Investments. In the 14 years since, Origin has executed more than $2.3 billion in real estate transactions, with an average equity multiple of 2.4x, and has never produced a realized loss for any of their 1,400 investment partners.
“We always say at our company: you only need to get rich once…we are really good risk managers, and our job is to make sure, number one, that we don’t lose money and number 2 is that we position ourselves in a way, make really good choices, put ourselves in good assets, and let the upside take care of itself.”
03:05 - Michael tells listeners how he got started in real estate.
10:45 - Michael discusses being disciplined at Origin’s inception during the 2008 recession.
14:40 - Michael describes asset classes Origin has explored.
17:20 - Michael explains strategy and how Origin acts as an LP.
23:22 - Michael provides insight into the markets they love and those they’re avoiding.
27:47 - Michael touches on retention strategies.
34:07 - Michael answers Kevin’s golden nugget question and what he should have done differently.
Fri, 3 December 2021
#365 FBF: Learn Multi-Family investing from the guy who literally wrote the book on it - with Steve Berges
Today's Flash Back Friday Episode is from Episode #77 that originally aired in July of 2015.
This week we're going to speak with Multi-Family industry expert, Steve Berges. If you've read any books on the topic of Multi-Family investing then you're probably familiar with Steve and his teachings.
Steve has been in this industry for quite some time and has completed more than $250 million in transactions from subdivision developments, to residential construction, single-family rentals, and of course, his favorite - multifamily apartment buildings!
Here are a few things you’ll learn in our interview with Steve today:
Wed, 1 December 2021
Today's Mobile Home Park Episode is from Episode #112 that originally aired on April 03, 2020.
Mon, 29 November 2021
Steve Olson is a real estate investment expert.
Steve has been in the real estate game since 2002. He completed his first real estate deal while still in college and decided to pursue investing as a full-time career at that point.
Steve is currently the Director of Sales for (FIG) aka Fourplex Investment Group, a national real estate investment group that specializes in the development and sales of large-scale Fourplex properties across many of the countries hottest markets.
“The problem with land right now is that sellers know that they have something extremely valuable on their hands…so you have to be extremely confident going into these deals that you’re going to make the land work.”
01:38 - Steve tells listeners more about how he got started in real estate.
05:15 - Steve discusses the essence behind his investing group, FIG, and how it got started.
09:55 - Steve tells listeners about the impact the pandemic had on FIG.
16:11 - Steve talks about the impact the pandemic had on inflation and prices.
19:01 - Steve provides insight into how FIG develops their projects.
23:47 - Steve touches on the pros and cons of investing in fourplexes.
29:26 - Steve describes his most challenging deal.
Fri, 26 November 2021
#362 FBF: Words of Wisdom from an Extended Stay Hotel Developer and Multifamily Investor - with Chris Winterhalter
Today's Flash Back Friday Episode is from Episode #71 that originally aired in May of 2015.
This week we're going to speaking with multifamily investment expert and hotel entrepreneur, Chris Winterhalter. Chris is a self-taught real estate investor who has built quite the impressive resume and track record during his short time in this business.
Chris started with fixing and flipping single family homes before moving onto multifamily investments. In addition to his current investments, he’s also active in a national extended stay development project and based on his financial projections the numbers look pretty darn exciting.
Chris is a top-notch guy and I’m positive that you’ll enjoy our interview together.
Here’s a few things you’ll learn in our interview with Chris today:
Wed, 24 November 2021
Today's Mobile Home Park Episode is from Episode #107 that originally aired on March 12, 2019.
Mon, 22 November 2021
Meg Epstein is a real estate development expert.
Meg is the founder of CA South, a vertically integrated real estate development and investment management company based in Nashville, TN. Over the course of her career, Meg’s been involved in the development and construction of over 1 million square feet of residential and commercial real estate, representing over $780 million to date.
Meg is a licensed Commercial Contractor, licensed Residential Contractor, CCIM candidate, and licensed real estate agent; she also keeps a private pilot’s license and bareboat charter sailing certification.
“For me, what really helped was doing the CCIM courses and those really gave me the fundamentals of just the background of investing in real estate. And as an investor, I would recommend that.”
01:45 - Meg tells listeners more about her company CA South and moving out of California into Nashville.
08:40 - Meg discusses the shift from doing residential projects into the commercial world.
12:54 - Meg tells us about moving to the institutional side.
22:26 - Meg touches on her most exciting deals.
Fri, 19 November 2021
#359 FBF: Building a Multi-Billion Dollar Portfolio, Syndicating Your First CRE Deal at Age 15, & Learning From The Best in The Biz - with Max Pastor of Time Equities
Today's Flash Back Friday Episode is from Episode #249 that originally aired in November of 2019.
Time Equities Inc (TEI) currently holds in its own portfolio approximately 31.1 million square feet of residential, industrial, office and retail property – including over 4,000 multi-family apartment units. In addition, TEI is in various stages of development and pre-development of constructing approximately 1.4 million square feet of various property types which includes at least 1,447 residential units. With properties in 30 states, five Canadian provinces, Germany, the Netherlands, and Anguilla, the TEI portfolio benefits from a diversity of property types, sizes and markets.
Wed, 17 November 2021
#358 MHP: Purchasing a Park That Has a Large Number of Homes Owned by an Outside 3rd Party Investor and Why This Can Be a HUGE Risk
Today's Mobile Home Park Episode is from Episode #61 that originally aired on April 11, 2017.
Mon, 15 November 2021
Michael Cobb is a real estate expert and international developer.
After success in the computer industry, Michael formed ECI Development in 1996. This residential resort development company builds communities in Belize, Nicaragua, Costa Rica, Panama, El Salvador, and Mexico. Tropical neighborhoods include homes, condominiums, golf courses, and hotels in beach, agricultural, and mountain locations.
Michael serves on the board of several multinational companies, charitable foundations, holds a CIPS certification, is a past International Director for NAR, and heads the International Referral Network (IRN) for Realtors. Michael and his wife, Carol, lived as expats, raising two daughters overseas, from 2002 through 2016.
“We started a mortgage company to provide financing to North Americans.. and that business ultimately grew into a bank, but we are still largely a mortgage company.”
“Understanding that thin slicing of the marketplace is really important but also [is] understanding your goals and objectives.”
“To me, the biggest form of asset protection is diversification, and not just in terms of asset classes.”
02:00 - Michael tells listeners more about life with his family in Nicaragua, culture shock, and raising children outside of him and his wife’s native country.
07:24 - Michael discusses his shift from the technology industry into the real estate world and how ECI Development came to be.
12:54 - Michael tells us the reasons why his company doesn’t have many competitors.
15:23 - Michael lists some reasons why Central American real estate is so appealing.
28:50 - Michael talks about asset protection when owning real estate in Central America.
34:21 - Michael touches on ECI’s current real estate developments.
40:23 - Michael describes the process of someone touring properties.
Fri, 12 November 2021
#356 FBF: Founder of one of NYC’s Most Prominent Real Estate Firms, $100 Exit to Cushman Wakefield, & Running for Mayor – with Paul Massey
Today's Flash Back Friday Episode is from Episode #250 that originally aired on October of 2019.
At the end of 2014, Cushman & Wakefield acquired Massey Knakal for $100 million. Following his successful exit, Paul went on to run as Mayoral Candidate for New York City, primarily focusing on education, housing and homelessness while also providing solutions for how to improve quality of life in the city.
In July 2018, he launched a new commercial brokerage firm, B6 Real Estate Advisors, short for “Building By Building, Block By Block”. The investment sales and capital advisory firm specializes in middle-market ($1-$200 million) and employs a distinct Territory Network model that ensures sub-market expertise for its agents along with an owner-aligned philosophy and a technology-forward platform.
Wed, 10 November 2021
#355 MHP: Making The Decision to Invest Locally Over Investing Logically and How This Can Negatively Affect Your Business
Today's Mobile Home Park Episode is from Episode #53 that originally aired on March 21, 2017.
Mon, 8 November 2021
Mike Sowers is a commercial real estate investment expert commercial real estate expert.
As the Founder and CEO of Commercial Investors Group, he leads the acquisition of a variety of assets and closes on value-add real estate deals in Minneapolis. Commercial Investors Group’s core business is repositioning commercial real estate assets across the country.
In addition to his real estate endeavors, Mike is the author of the #1 Amazon bestselling book "Commercial Real Estate Investing: A Step-By-Step Guide To Finding & Funding Your First Deal" and host of the "CREative Commercial Real Estate Podcast"
“…There are true real estate operations and then there are properties where it's kinda like there’s a business embedded in the real-estate operation.”
“I never got into niches that required me to move from being a landlord into being a business owner.”
“I think the key here is looking at it and figuring out: how am I capitalizing on it instead of letting it create fear within me… So, how do I take the data and the understanding of what’s happening in the market and use it to my advantage?”
01:42 - Mike tells listeners more about the Commercial Investors Group and how he got into real estate.
07:24 - Mike discusses Commercial Investors Group’s first value-add property.
11:17 - Mike tells us about public databases for MLS.
20:36 - Mike describes finding the necessary expertise in pivoting to a different type of deal.
24:00 - Mike about having a niche and how COVID has shifted his interest in suburban real estate.
27:52 - Mike speaks about COVID’s impact on his opportunities and marketplace.
30:35 - Mike talks about how his company creates opportunities.
33:33 - Mike discusses the importance of banking relationships in the industry.
Fri, 5 November 2021
#353 FBF: Living Legend Francis Greenburger on How He Built a Multi-Billion Dollar International Investment Firm
Today's Flash Back Friday Episode is from Episode #260 that originally aired on Jan 15, 2020.
Time Equities Inc (TEI) currently holds in its own portfolio approximately 31.1 million square feet of residential, industrial, office and retail property – including over 4,000 multi-family apartment units. In addition, TEI is in various stages of development and pre-development of constructing approximately 1.4 million square feet of various property types which includes at least 1,447 residential units. With properties in 30 states, five Canadian provinces, Germany, the Netherlands, and Anguilla, the TEI portfolio benefits from a diversity of property types, sizes and markets.
Francis has been at this game for more than 50 years and did his very first deal before graduating high school. And get this, his first deal was a New York City office building. If that doesn’t impress you then I don’t know what would.
Wed, 3 November 2021
#352 MHP: Mobile Home Park #41 - Interview With a New MHP Investor To Discuss His Story and How He Has Found Success in This Business
Today's Mobile Home Park Episode is from Episode #41 that originally aired on Dec 27, 2016.
Mon, 1 November 2021
Trisha Talbot is a real estate and healthcare expert.
As a Managing Director of Newmarke, she advises healthcare providers and real estate investors. She specializes in investments by consulting her clients throughout the sales process with comprehensive strategies on pricing, market fluctuations, and solutions to close transactions.
She also helps healthcare providers in establishing real estate portfolio strategies aligned with their corporate goals. Together with her team, landlords benefit through stabilizing their property with leasing then monetizing their assets.
As the host of the Providers, Properties, and Performance podcast, she focuses on the possibilities and future of healthcare and commercial real estate.
“I will tell you, cap rates for medical office buildings are incredibly aggressive and incredibly low…because people are looking to place their money in a resilient asset class that is unlikely to fluctuate.”
“…what I see is (investors saying) ‘okay I want to get into medical office’ without really understanding what it takes–where the lease rates need to be, how you need to manage it from operating expense standpoint as well as really understanding the property before you buy it.”
01:43 - Trisha tells listeners about her background in real estate and health care.
05:15 - Trisha discusses the impact of the pandemic on healthcare real estate.
11:40 - Trisha gives listeners her thoughts on physician sale lease-back strategies.
14:57 - Trisha describes what bigger health care property investments look like.
18:35 - Trisha talks about the property to healthcare conversions.
21:35 - Trisha speaks about the more common mistakes that owners make with their properties.
24:04 - Trisha talks about the most difficult transactions that she’s been involved in.
Fri, 29 October 2021
#350 FBF: Mastering the Capital Markets, The Many Challenges of a Startup, Building a Team Around Your Companies Core Values, and Much More – with Adam Finkel
Today's Flash Back Friday Episode is from Episode #255 that originally aired on Dec 17, 2019.
Tower Capital is an independent structured finance firm that specializes in helping real estate investors navigate the capital markets. Through a strategic team approach, Tower Capital streamlines the financing process to obtain the best solutions for their clients in the most time effective and least costly manor possible.
Prior to founding Tower Capital, Adam served as Vice President at Johnson Capital, one of the country’s top real estate capital advisory firms with 20 locations nationwide. There he was involved in the successful placement of over $360 million in bridge and permanent structured financing on behalf of commercial real estate investors and property owners throughout North America.
Prior to Johnson Capital, Adam held a few other key roles in different firms and was directly party to more than 300 commercial real estate transactions, which included office, industrial, and retail properties.
In 2014, Adam earned the designation of Certified Commercial Investment Member (CCIM), a title held by only a small group of elite commercial real estate investment professionals.
Wed, 27 October 2021
Today's Mobile Home Park Episode is from Episode #20 that originally aired on Aug 16, 2016.
Mon, 25 October 2021
Scott Myers is a Self Storage Expert and the President of Kingdom Storage Holdings.
Scott has acquired, sold, developed, and/or converted over 40 facilities totaling over 14,000 units and over 2.4 million sq. ft of storage. He is also the Founder and President of: SelfStorageInvesting.com, a leading self-storage education company that offers courses, live events, and mentoring/coaching.
Scott’s devotion to both his family and his faith is illustrated through his charity and mission work both locally and around the globe. Here, he focuses on funding, building, and giving away homes to deserving families.
“Nobody cares 1% as much about your facility or your apartment complex as you do…Just bottom line. Nobody is going to be able to fight for every dollar that comes in the door and fight to reduce every expense and line item in your P&L like you would, period.”
“Storage has really benefitted during this pandemic and it benefitted during a recession…because when there’s trauma in transition businesses downsize, people move in with their family and friends, then the demand for storage goes up.”
02:24 - Scott tells listeners about his background in real estate.
07:24 - Scott discusses the impact of the 2008 recession on the real estate and self-storage spaces.
11:17 - Scott tells us about creating a holding company.
13:56 - Scott describes running a third-party management.
23:48 - Scott talks to those who are looking to getting their first facility.
28:00 - Scott speaks about lending and the types of debt in the Self-Storage market.
34:00 - Scoot talks about sensitivity to rent increases.
37:26 - Scott talks about one of his worst deals.
Fri, 22 October 2021
#347 FBF: From Limousine Driver to Nationally Recognized Real Estate Developer Whose Work and Vision Helped Revitalize an Entire City
Today's Flash Back Friday Episode is from Episode #111 that originally aired on May 03, 2016.
In today’s discussion with Dick, we’re going to discuss how he’s gone from Limousine owner/operator to being the president and CEO of a highly successful service commercial real estate firm located in Manchester, NH. Dick has become an expert at re-positioning old rundown historic buildings and re-purposing them for uses that meet the needs of today’s businesses and consumers. Dick’s progressive vision and unconventional thinking was the main driving force, which brought downtown Manchester back to its former glory.
My time spent with Dick was both inspiring and motivating as it shows that hard and work and perseverance truly does win at the end of the day. Anditdoesn’tmatter if you’re just starting out or are already an experienced real estate investor, I’m positive that you’ll thoroughly enjoy and gain a ton of value from our discussion together.
In this show with Dick you’re going to learn:
Wed, 20 October 2021
Today's Mobile Home Park Episode is from Episode #95 that originally aired on Sep 25, 2018.
In this episode of the Mobile Home Park Investing Podcast, Kevin shares the mic with Mike Johnson, Owner of the blog Perpatualsaturday.com, and owner of 3 Mobile Home Parks.
Mike is passionate about helping others retire in 12 months, no matter where they are financially. Impossible? Think again: Mike landed on the asset class of Mobile Home Parks to fund his retirement.
He is now the owner of 3 Mobile Home Parks, which are made 95% passive by hiring the right managers to run them.
[7:22] What is Mike’s background?
Mon, 18 October 2021
Keith Weinhold is a real estate expert.
Keith has been an active income property investor since 2002 and owns apartments in Alaska and single-family income property across the United States.
He is the Founder and owner of Get Rich Education. It is here and on his podcast, Get Rich Education, where he teaches people how to build their wealth through buy and hold real estate investing.
Keith is also the international best-selling author of the book “7 Money Myths that are Killing Your Wealth Potential”. He writes for Forbes and the Rich Dad Advisors blog and is a member of the Forbes Real Estate Council.
“…as I often say, the market is more important than the property. You have to keep in mind the economic vibrancy of a market. Are there diverse job sectors, is there population growth, and is there job growth that is going to support rent-paying tenants that can create that cash flow?”
“Live where you want to live and invest where the numbers make sense.”
02:24 - Kieth updates listeners on where he’s at in his real estate portfolio.
04:27 - Keith discusses the direct impact on his properties from local economies.
07:15 - Keith tells us about the markets he loves.
12:10 - Keith talks about capital gains taxes.
15:34 - Keith touches on the conversation around 1031 exchanges.
20:08 - Keith speaks about how putting an emphasis on health helped him in business.
26:50 - Keith talks about one of the most challenging deals he’s done.
30:21 - Keith tells listeners about investor profiles of prospective buyers.
34:21 - Keith answers Kevin’s golden nugget question.
Tue, 12 October 2021
Danny Kalenov is a real estate expert and fund manager.
Since 1999, he has analyzed, purchased, and repositioned a large variety of income-producing real estate assets. Now, Danny is the Founder, Principal, and Fund Manager of Diversus Fund. Diversus was born out of Danny’s frustration with the volatility of the stock market, and the realization that relying on stocks alone for stability in retirement was largely a game of chance.
“If you pay 5x less in Nashville for the exact same home, you’re not going to get 5x more in San Diego for that same home.”
“There are two key considerations that I would look at before making [short term rental] investments, the first one I market and the second one is team.”
01:43 - Danny offers listeners insight into his background and how he entered the real estate space.
05:29 - Danny discusses Diversus Fund’s asset collection.
09:38 - Danny talks about the areas of real estate he first got into.
14:17 - Danny tells us about finding opportunities and his fund’s business model.
16:08 - Danny talks about new lottery legislation in San Diego and regulatory risk.
16:23 - Danny speaks towards short-term markets.
22:28 - Danny talks about the challenges of scaling short-term rentals.
27:54 - Danny discusses national companies that specialize in vacation rentals.
30:25 - Danny tells listeners about Diversus’s presence in the hotel space.
Tue, 5 October 2021
Michael Blank is a multifamily Syndicator.
Michael is an entrepreneur who is passionate about helping people become financially free through real estate investing. He’s the author of the Amazon bestseller “Financial Freedom with Real Estate Investing” and host of the popular Apartment Buildings Investing Podcast.
As CEO of Nighthawk Equity, he controls over $200M in performing multifamily assets all over the United States.
“What we’ve discovered is...in the beginning you want to get to anywhere you can find a deal. It doesn't really matter as long as the area is growing, but after a while when you’re trying to scale, you really want economies to scale. I don't want just 2 deals in a market or 1 deal. I want 5-10, I want 1000 units in one market.”
“What really really works well in the multifamily space is broker relationships. Broker relationships are absolutely key…"
02:33 - Michael offers listeners insight into his background and how he entered the real estate space.
05:29 - Michael discusses his endeavors in the restaurant business and what went wrong.
07:10 - Michael talks about what markets his company is drawn towards talks.
09:45 - Michael tells us about finding opportunities in today's real estate climate.
13:52 - Michael paints a simple plan for people looking to build relationships.
16:23 - Michael speaks towards selling off assets.
19:03 - Michael talks about his company’s business model.
22:38 - Michael discusses debt and flexible exit strategies.
33:25 - Michael answers Kevin’s golden nugget question!
Tue, 28 September 2021
Ryan Scott is a serial entrepreneur and real estate expert.
Early in Ryan’s career, he was a consultant for Accenture and IBM. There he developed strong affinities for the overlapping importance of shrewd investing and disruptive technology. Here’s he parlayed this experience into his successful rental management group called, Aspire Fund.
“If you take Flagstaff, there’s a crazy housing shortage not unlike elsewhere…even with what's going on in the market now, there just simply isn’t enough affordable housing and if there is affordable housing it’s not somewhere people are as proud to live. So f we look at housing needs you know sub 150K…that's a good indication.”
“The other path we didn’t talk about today which I’m happy to chat about with folks is the shipping container home space, and that's another angle of innovative affordable housing kind of like tiny homes—and not just parts but multifamily.”
01:40 - Ryan tells listeners how he got into the real estate space.
06:23 - Ryan discusses Aspire Fund and what they do.
07:36 - Ryan talks about Aspire Fund’s business model for tiny homes.
10:07 - Ryan talks about his fund’s operations for Airbnb.
12:32 - Ryan provides insight into budgets and price points for tiny homes.
16: 18 - Ryan discusses the type of debt that's available today.
21:00- Ryan dives into the challenges of scaling his business model and gauging a new market.
24:02 - Ryan breaks down outsourcing and management.
Tue, 21 September 2021
Michael Becker is a Multifamily Syndicator and the Principal of SPI Advisory LLC. At SPI, Michael oversees all aspects of property operations, including asset management, property management oversight, accounting and taxation, capital improvement and renovation projects, and investor relations.
Michael is also a veteran in the Commercial Real Estate Banker with 15 years in the industry. During this time, he originated and managed numerous portfolios of permanent and bridge loans in all major asset classes.
“The only thing that I’ve learned through this business is that everything is always changing. So if you came and asked me the same question a few years from now, I’ll probably have a different spin from what I’m talking to you about right now.”
02:42 - Michael recaps the past year with SPI and its operations.
07:05 - Michael discusses the challenges of getting SPI staffed.
09:10 - Michael tells listeners about markets and investment risks.
11:16 - Michael talks about the common mistakes new syndicators make getting started in the multifamily investment space.
13:40 - Michael gives his thoughts on strategies around loans, debts, and properties.
16:30 - Michael provides us with details on SPI’s newest developments and raising capital.
21:35 - Michael offers his thoughts on the net migration in Austin over the upcoming years.
22:57 - Michael tells us other spaces he puts his money into.
Tue, 14 September 2021
Charlie Muller is a hospitality expert and managing director of Hospitality Investments for Avistone, LLC.
Charlie has worked in the hospitality industry since he was a teen. And this year as of this year, he now holds over 38 years of experience in many facets of the industry including operations, capital planning, acquisitions, development, asset management, and dispositions.
Having successfully lead 5 investment firms, he currently leverages his skills and knowledge as managing director of Avistone, LLC. Here Charlie lends his expertise in the acquisition, (re)development, and asset management of over 200 properties in the hospitality and recreational spaces that in total value at over $5 billion.
“Most of the debt that's available in the sector right now is coming from on debt fund acquisitions and typically the loan to value is roughly 65%…but we are seeing the pricing of that debt narrow almost every week”
“…So there’s nothing wrong with buying an older asset it just has to have good bones that will always be able to be improved and looking like new. So, I would say that the need to do larger transactions sometimes requires you to look at portfolios that might not fully fit your knitting.”
02:32 - Charlie tells us how he found his way into the hospitality space.
04:41 - Charlie talks about Avistone’s background and its relationship to hospitality investments.
07:28 - Charlie describes what the economic health of the hospitality industry looks like today.
13:43 - Charlie gives listeners an idea about the stress cracks in the industry.
18:40 - Charlie discusses CMBS loans and debt distress in the industry.
20:11 - Charlie tells listeners what kind of hospitality investments Avistone looks for.
23:43 - Charlie provides insight into how to forecast hospitality risks.
28:40 - Charlie offers his perspective on a bank’s position as it pertains to lending on an acquisition.
30:59 - Charlie is asked the golden nugget question: what is one deal that did not meet expectations?
Tue, 7 September 2021
Jacob Vanderslice is a real estate expert and principal of Van West Partners.
Jacob has been in the industry for 15 years and counting. He has expertise in fix-and-flips, commercial real estate, adaptive reuse retail projects, and self-storage. His investment firm, VanWest Partners, focuses on the acquisition and management of self-storage centers (in over 8 different states) and other opportunistic commercial real estate throughout the United States. Having bought over 7 properties this year, VanWest has over 195 million in commercial real estate transactions under their belt.
“Whether you’re converting an industrial building or a big box retail building into storage, I think the primary risk is that you’re forecasting your lease rates years down the road. So you’re going from 0 income in place two whatever your performo tells you.”
“…Our primary line of defense in mitigating the risk of new supplies, focusing on acquisitions where we can be all in at or below replacement costs. So if a new competitor shows up a mile away, their rents are going to have to be incrementally higher than ours, commiserate with their incrementally higher cost basis, to achieve the same total yield on costs.”
1:29 - Jacob deep dives into his real estate journey and what his company, Van West Partners, is all about.
04:15 - Jacob gives an overview of how he ended up in the self-storage asset class.
06:30 - Jacob talks to us about the downside risks associated with big-box conversion deals.
09:29 - Jacob gives listeners an idea of how his firm manages its forecast process.
11:45 - Jacob tells us how VanWest approaches staffing, operations, and automation.
13:35 - Jacob tells his craziest stories while operating in the self-storage space.
15:35 - Jacob discusses deals and how his firm approaches discovering new opportunities.
19:09 - Jacob talks about what he thinks other buyers in his market are doing differently.
21:13 - Jacob provides insight into creating an international brand, ClearHome.
25:11 - Jacob paints a picture of the future of VanWest and ClearHome.
27:49 - Jacob answers the Golden Nugget question and tells us about some of his most notable failures in the industry.
31:38 - Jacob tells us about a time where he and his firm walked away from a deal they were excited about.
Tue, 31 August 2021
Johnny Wolff is a real estate and co-living expert.
Johnny's love for real estate investing and living with roommates motivated him to start HomeRoom in 2017. As CEO and Founder of HomeRoom Co-living, Johnny has helped lead one of America's fastest growing co-living companies. And over the past year alone, his company did numbers boasting 99% on-time rent payments, full occupancy, and zero evictions.
“We call it ‘roommate living with luxury apartment amenities’ or ‘concierge service’
“We are the platform, right? Our goal is to, over time, become similar to an airbnb but for the living space.”
“With co-living we can get up to 70% more in a single-family home, versus as its being rented by one person. So that extra revenue allows investors to make quite a bit more money.”
02:05 - Johnny tells us more about himself and how he found himself in this part of real estate.
04:57 - Johnny tells us more about different aspects of his business model.
06:27 - Johnny talks about his experience with online co-living events before and during the pandemic.
07:18 - Johnny discusses HomeRoom’s role in the real estate space.
07:50 - Johnny gives an overview of what co-living operations look like.
10:15 - Johnny provides insight into what the average increase return looks like for Home Room.
12:40 - Johnny lists the criteria that allow a co-living home to be successful.
14:10 - Johnny provides us with an overview of the next few years for Home Room.
16:27 - Johnny tells listeners one thing he wants you to know about the advantage of co-living investing.
19:21 - Johnny explains the regulatory risks to this business model.
Tue, 24 August 2021
#337: Blockchain, The New Future of Asset Classes, Hospitality Investments, and So Much More! -with Stephane De Baets
Stephane De Baets is a real estate, hospitality, and blockchain expert.
Stephane is a Belgian investment, real estate, and hospitality entrepreneur. He has 20 years of experience in asset management, financial structuring, and M&A. Currently, Stephane is the founder and president of the international asset management firm, Elevated Returns, which controls commercial properties transnationally.
As a pioneer in blockchain-based real estate, Stephane and his firm have facilitated the first major commercial real estate transaction using blockchain technology to sell ownership stakes in the Aspen St. Regis Resort.
“…what we realized along the way, we realized that the world of commercial hospitality investing is really very incestuous. You have only a couple of players that really know each other and it's a special investment club.”
“…we kind of looked and said: why isn’t there a democratic way for people to buy a piece of ownership of the asset that they love?”
02:09 - Stephane offers us insight into his background, how he got into investing and the real estate space, and how he got involved in blockchain.
05:26 - Stephane dissects what it means for consumers and merchants to use blockchain for asset investments.
07:19 - Stephane discusses the primary reasons behind going down the blockchain route.
09:54 - Stephane gives us his thoughts on the future of the hospitality space in a post-COVID world.
11:53 Stephane tells us what his firm anticipates around distress purchase and future opportunity.
13:30 - Stephane tells us the challenges and thoughts behind tech and blockchain becoming a widespread tool.
17:06 Stephane tells us his ideas on the use of blockchain.
18:48 - Stephane talks about the secondary market for those who want to sell off their fractional piece.
20:18 - Stephane gives an overview of projects Elevated Returns is working on.
22:45 - Stephane tells us the regulatory risks and downsides associated with Blockchain and security token in the U.S.
24:12 - Stephane gives a prediction of the security token space in 10 years.
Tue, 17 August 2021
#336: Sobriety Living Homes, Scaling Business Models, Accreditation, and So Much More! -with Sherri and Frank Candelario
Sherri Candelario, Ph.D. is a pharmacologist from the University of Washington Medical School, becoming an expert in how opioids affect the brain and is a federally registered patent counsel for numerous biotech companies.
Frank Candelario is an experienced broker skilled in zoning, acquisition, and identifying and financing housing for multi-use.
After experiencing sober living recovery homes with a family member, and assessing the pitfalls of current this recovery approach, Sherri and Frank decided to take matters into their own hands. They developed a business model that enabled people in recovery to regain control of their lives.
In 2016, Sherri and Frank founded Kate’s House Foundation, the first nationally accredited sober living homes in Washington State. Together, their mission in real estate is to end homelessness for disadvantaged women and veterans.
Frank: “What realized quickly is that… that to own beautiful property we needed to get much higher cashflow so ironically all these things meshed at one time to where if you lease by the bed for a clean and sober program you can get tremendous—2-3x the normal cash flow.”
Frank: “…our goal is not to rent to a husband, wife, two kids, and a dog. Our goal is to have a home that if necessary we could sell to a husband, wife, two kids, and a dog. Our business model created great cash flow that enabled us just to keep growing.”
Sherri: “I would say if you want to scale this appropriately, is [to] do what we are always doing which is trying to find the talent in the house to manage it.”
Sherri: “I think from day one we realized that a lot of people didn't really know how to live together in a house because they hadn’t had one growing up… so when we look at the tragedies that people have gone through, you have to be sensitive to it but then you have to realize that you are providing a home for the first time and you’re providing a basis for people to launch into a wonderful life.”
02:46 - Sherri and Frank tell listeners about their experience with addiction & recovery, what ultimately helped Kate maintain sobriety, and how they got into the real-estate space.
05:32 - They tell us how the last sobriety house Sherri’s daughter, Kate, lived in differed from other sobriety houses she first lived in. Sherri also delves into how she and Frank came about their first sobriety housing model.
09:12 - Frank tells us about the cash flow of their first sobriety property.
12:09 - The two talk about day-to-day operations at their properties.
15:10 - Frank and Sherri answer the question: how do you determine what the demand is for recovery group homes in a given area?
18:46: Sherri tells us about the accreditation process for sobriety housing and the way their homes are utilized.
24:15 - Frank and Sherri talk about the price point they’re aiming for on their prosperities.
26:46 - The two discuss how they handle NIMBY syndrome.
29:22 - Frank and Sherri tell us if they have any personality clashes within their housing arrangements.
30:39 - They discuss their biggest challenges of scaling out models.
34: 22 - Frank and Sherri go over some of the downsides/negatives to this sort of business model.
38:38 - They talk about the regulatory risk associated with this sort of business model.
Tue, 10 August 2021
Tony Morgan is a real estate expert and founder and CEO of Broadwell Property Group.
Tony has over 30 years of experience leading startup and high-growth companies in a number of different industries. Tony has a proven track record of taking a project from concept, through reality, through operational challenges, and ending with a financially positive exit.
Tony previously worked in the tech industry where he founded and operated NationalNet, a global technological real estate provider for 20 years. Here, Tony led the company, hundreds of employees, and thousands of clients in achieving their goals and objectives.
“I got to tell you, companies don’t matter. I’m in real estate right now but it's just another company. You treat it the same way… eventually, they’re going to be exactly the same, it’s just what we are selling that’s different.”
“We’ve been lucky in that we are not having to draw up investors like a lot of sponsors have to do… there has never been an investor in any of our deals larger than me and so that helps. I’m asking for investors to invest alongside of me.”
“We could spend two podcasts just going over my failures. I’ve got plenty… but the truth is, what’s most important is what you learn from them—is what you gain from them… I believe that with every failure comes a gain.”
“Mistakes were made way before that…mistakes were made in the fact that I let emotions get in the way of a deal.”
01:34 - Tony gives us insight into his background and how he got involved in real estate
05:09 - Tony tells us the lessons he’s learned and the similarities and differences between the LP space, the GP space, and the internet space.
07:01 - Tony talks about what made him choose the multifamily sector of real estate.
08:42 - Tony talks about how he has been able to find opportunities in today’s competitive landscape.
12:15 - Tony tells us what he thinks other multi-family buyers are doing differently than his company.
15:10 - Tony gives insight into the locations his company focuses on and the markets they are looking to expand into.
17:33 - Kevin asks Tony if there is anything his company does differently when setting out to find and raise capital as well as what its like vetting as a GP.
19:54 - Tony provides us with details on a deal he made that never met his expectations.
24:35 - Speaking to the GP side, Tony gives another example of a real estate deal that never met his expectations.
30:09 - Tony offers us his golden nugget piece of advice for our listeners.
Tue, 3 August 2021
#334: Management Technology, Portfolio Expansion, Getting Started in Real Estate, and So Much More! -with Kent Ritter
Kent Ritter is a real estate + multifamily expert, and a Senior Director for Birge & Held.
Kent co-leads the Private Select Portfolio within Birge & Held and specializes in many of its social, economical, and analytical facets in order for it to run smoothly. He has a passion for how technology can change multifamily investing and is spearheading the adoption of PropTech across the portfolio.
Kent is also a leader in the multifamily space. He hosts a podcast titled Ritter on Real Estate, where he untangles complex topics to empower others to invest. Additionally, he hosts a monthly multifamily investor networking event and has been a featured speaker at many industry conferences and podcasts.
Prior to joining Birge & Held, Kent was a successful real estate investor with a multimillion-dollar portfolio. And before falling in love with real estate, Kent spent 12 years as a management consultant.
In regard to the markets his company is attracted to: “Job growth and rent growth are correlated 1:1… we like job growth, job diversity, and job diversity among jobs that are non-cyclical…if you look at Birge and Held’s entire portfolio, we are in cities like Indianapolis, Columbus Ohio, Minneapolis.. these cities all share common traits: there’s a huge healthcare base, there's a huge higher education base.”
“The goal is to create efficiencies in these smaller properties that usually wouldn’t exist.”
“Just get started, real estate is the right place to be…and then improve through iteration, don’t expect to be perfect the first time.”
02:19 - Kent dives into his background in business making, real estate investing, building his portfolio, and consulting.
09:55 - Kent gives us insight into being a senior director at Birge and Held as well as running his own subsidiary, Private Select, at the company.
15:03 - Kent gives us a general sense of the underlying fundamentals of tertiary markets and the types of markets attracts his company.
18:24 - Kent tells us about the expansion of Birge and Held’s portfolio.
22:00 - Kent goes through his thoughts on technology and how that plays in the efficiency of managing smaller properties.
38:40 - Kent talks about two barriers he’s met when getting into the industry.
49:00 - Kent offers listeners his two golden nugget pieces of advice for those who are pursuing their own real estate investment careers.
Tue, 27 July 2021
#333: Tech & Real Estate, The Future of Traditional Office Spaces, and So Much More! -with Jonathan Wasserstrum
Jonathan Wasserstrum is a real estate tech expert, and CEO and Co-Founder of SquareFoot.
Founding Squarefoot in 2011, it poses as a new kind of commercial real estate company by helping other businesses find their next office space. It leverages technological innovation and human expertise to solve clients’ needs and help guide them from initial inquiry to lease signing and beyond. The platform now features more than 300,000 office listings, 5,000 new listings monthly, and over 1,300 leases executed to date.
Jonathan previously worked in the International Capital Group at Jones Lang LaSalle where he advised foreign and domestic clients on more than $3 billion worth of transactions globally.
“We have in-house teams of brokers in every market we cover to actually shepherd our clients through the process."
“We are not a listing site, we are a tech and able brokerage…we just believe that tech and transparency make that leasing process 100x better than any alternative.”
02:17 - Jonathan gives us an overview of how he got started with Squarefoot.
06:35 - Jonathan gives Kevin a behind-the-scenes look at Squarefoot and how they operate as compared to typical brokerage, consulting, and cold calling.
08:54 - Jonathan tells us who his ideal clients are.
09:40 - Jonathan hones in on Squarefoot’s plans moving forward.
12:12 - Jonathan provides his perspective on the future of office spaces in the wake of the pandemic.
19:18 - Jonathan talks about the pandemic and its impacts on the markets his company finds itself in.
22:17 - Jonathan talks about what it was like growing a tech brokerage and some of the most challenging aspects aside from covid.
Tue, 20 July 2021
#332: Commercial Syndication, Limited Partnerships, Sponsorship Vetting, and So Much More! -with Brad Shepherd
Brad Shepherd is a real estate expert and the founder of Sugar House Investments.
Having graduated college with a degree in Finance, Brad purchased his first rental property within months of graduating and quickly found his career take-off with a retail and hospitality startup in Utah. Playing a key part in this company's foundation, he spent his last four years there as president of the organization, guiding it through monumental growth.
With well over a decade in the field, his experience includes management of hotel and vacation property, retail and café operations, development of retail and hospitality space, and raising capital from both domestic and international investors.
“My very first step into the commercial space was investing as a limited partner, and if I knew then what I know now, I wouldn’t have made that investment. But I learned a ton from it, and I'm glad I did do it… it's helped me quite a bit as I’m going out there and talking to other potential investors.”
In regard to good sponsorships: “whatever systems need to be in place to work with an insurance adjuster to get things settled quickly, those things have to be in place.”
“When somebody asks me how to vet an opportunity, start with the team. What’s their track record, get to know them, what's their style.”
“A good sponsor can make a mediocre deal, [and] do better than a mediocre sponsor can with a good deal.”
02:05 - Brad gives us an overview of his college background, his internship in Seattle, and how he got started in the real-estate space.
04:54 - Brad tells us how he transitioned into commercial real estate.
11:15 - Talks about the role teams play in the real-estate space, especially in Texas.
14:10 - Brad discusses how he’s attracted limited partners towards investment opportunities.
16:50 - Brad talks about the vetting process in regard to sponsors and how he figures if they can meet the expectations of his team and investors.
17:56 - Brad delves into what he thinks went wrong during one sponsor partnership that wasn’t the right fit/did not go well.
22:06 - Brad tells us where he believes he could have done better with this sponsor partnership.
24:16 - Brad tells us his answer to this question—what’s more important: the sponsor or the deal?
25:56 - Brad talks about how his investment activities have changed during 2020.
Tue, 13 July 2021
#331: Multifamily, Syndication, Residential to Senior Housing Conversions, and So Much More! -with Prashant Kumar
Prashant Kumar is a real estate expert and syndicator.
As Founder and Managing Partner at MyRealityGains, he applied his 25+ years of experience in corporate America to analyzing opportunities and managing his real estate operations. He acquires and holds stable, income-producing multifamily apartment complexes in emerging US markets with long-term capital appreciation.
In addition to his investment activities, Prashant also runs a real estate meetup in NY as well as participating in numerous industry masterminds.
“I feel like the assistant living space, which can be explored further…is there but it’s not like everyone is rushing there towards it because it's more of an operation intensive business.”
“[The senior assistant living space] is a very operation-intensive business. We come in as investors, we get it built, but even to do the operation [everything] has to be correct. So we have to find the right operation efficient company to do the work.”
“The biggest challenge with residential is to do the operations…number one operations and number two, from a scalability standpoint, getting a loan on those properties.”
“From a conversion standpoint, you will buy as a residential home, you will put the money to modify it… so you are talking about nine months worth of delay before you can go into the operation. And then filling up time can be anywhere from 3 to 6 months depending on what you do.”
“The biggest factor [at play in hotel to senior housing conversions] is the zoning. You know, if the hotel is empty doesn’t mean you can go in and convert it. It depends on the town and if they’re going to allow for assisted living in that area or not. Number two is the general population, the age group, and what is their income and the demand.”
2:04 - Prashant gives us an overview of his background in India, working in the corporate world, and how he got started in real estate.
5:23 - Prashant tells us how he went about managing his first single-family and multi-family investments.
7:30 - Prashant talks about his progression—how he went from his first single-family investment to the world of larger syndications and multi-family investments.
10:42 - Prashant describes his experience obtaining a property out of outward-bound marketing/cold calling efforts.
14:45 - Prashant tells us all about the senior housing space, his growth plans, and what attracts him to this sector.
18:40 - Prashant discusses his first two projects in the assisted living space.
19:18 - Prashant briefs the terms on SPA loans.
20:28 - Prashant talks about the distress aspects of residential and senior assistant investments.
23:24 - Prashant discusses where he’s at in the turnaround process of his assistant living investments.
25:40 - Prashant discusses the challenges of residential housing versus the benefits of the larger scale senior housing space.
28:11 - Prashant tells listeners how single-family to senior care facility conversions work.
30:52 - Prashant dives into senior housing conversions out of extended stay/hotel spaces during the pandemic and what makes a good hotel for this type of conversion.
Tue, 6 July 2021
Mike Zlotnik is a real estate investment expert.
Beginning his career in Information Technology, Mike successfully managed many aspects of this business sector such as Risk, Business Intelligence, and Quality of complex systems, software, and processes.
After 15 years in IT, however, Mike knew his passion lied within the Real Estate Investment space due to its predictability of outcome and well-understood risks. Mike dove headfirst into real estate in 2000 and now holds the title of CEO at TF Management Group. Under his leadership, the company has seen transformation and growth, delivering strong returns for the fund investors.
“The strengths of the open-ended fund [are that] you can keep raising capital on a periodic basis quarterly and you can keep making investments and reinvest capital that comes back from the files. It’s got its positives. One of the major negatives with any open-ended fund is mark to market on however often you raise capital…you’ve got to be able to value the portfolio. It’s called mark to market concept.”
“One thing I can tell you [is] that when you mix growth and income strategies, the growth projects create tax efficiency… and it creates yield drags on the income projects. So mixing growth and income projects in the same fund has a little bit of that tax efficiency a little bit of yield drag as the result.”
02:23 - Mike Gives us an overview of his background in real-estate
04:29 - Mike tells us what TF Management Group does, what they fund, and who they invest with.
05:38 - Mike gives comparisons between open-ended/evergreen funds and closed-end funds as well as the types of assets in each.
07:40 - Mike gives us Examples of opportunities and assets in their most recent funds.
13:54 - Mike talks about the process behind hotel to multi-family conversions!
21:40 - Mike tells us what he thinks about the future of the hospitality space.
26:47 - Mike speaks about business strategies during the pandemic.
Tue, 29 June 2021
Chay Lapin is a real estate investment and 1031 exchange expert.
Chay is a leader and specialist within the 1031 DST and real estate offerings market. In this role, he offers insight to clients nationwide concerning multifamily and commercial real estate, DST, TIC, and fractional NNN Properties. Chay has also sponsored and co-sponsored the syndication of over two million square feet of DST properties in the multifamily, net lease, industrial, and office sectors and invested in and operated multiple net lease asset residential properties throughout the United States.
As the president of Kay Properties and Investments, a national Delaware Statutory Trust investment firm, Chay and his team provide their clients with access to the marketplace of DSTs from over 25 different sponsor companies, custom DSTs, independent advice on DST sponsor companies, full due diligence and vetting on DST and a DST secondary market and so much more.
Prior, Chay was a four-time Academic All-American water polo athlete breaking records and receiving athletic awards at UCLA. As a top-ranked water polo athlete, Chay represented the United States in the 2012 London Olympic Games on the U.S. Men's National Water Polo Team.
"You're ultimately a passive investor, that's become very popular over the last decade, and then very popular with the acceptance that we are not a crowdfunding site but the whole crowdfunding world and the big companies getting involved in venture capital has allowed people to get comfortable with the passive investing."
"In the DST's you can also do a cash investment into them. It's not just for 1031 exchange funds... So you do a cash investment today, there's that liquidity event, you can have an option with the current tax law to do a 1031 exchange."
"And that's the biggest difference between the DST structure and your typical GP structure or other funds is there's no waterfall split with the trustee; 100% of the upside goes to the investors, but the sponsor, the trustee, gets a disposition fee."
03:05 - Chay gives us insight into his background and education being a former Olympian, and how he got started in the real estate world.
06:42 -Chay tells us more about his internship experience.
08:08 - Chay tells us what a DST is and what role they play in real estate investment.
11:08 - Chay breaks down the DST structure.
12:45 - Chay lists out the investor profiles that he typically works with as a 1031 exchange expert.
16:54 - Chay tells us more about the technicalities of being a beneficial owner.
20:33 - What are some of the profiles of these properties in the DST world?
21:50 - Chay speaks about Kay's Secondary Market and options for people who need to quickly get liquidity in an illiquidity market.
24:10 - Talk about leverage and debt on DST properties.
Tue, 22 June 2021
Bill Ham a is real estate investment expert.
Bill is the Chief Operating Officer and the driving force behind Broadwell Property Group. He has upwards of 20 years’ experience in the Real Estate investment world with a proven track record of identifying, acquiring, operating, and divesting large footprint Multifamily Housing.
“The cap rate compression is too great at the moment. We are looking for a good deal like everyone else and we’re going to sit tight until we find one.”
“One of the biggest mistakes I’m seeing people do right now is to really just buy into this ‘the rent is below market’ conversation. I am strongly cautioning everyone against that. What I’m seeing are the people that are basically mathematically looking at a deal and saying this is not a good deal mathematically speaking, but that’s okay because I can raise the rent and as soon as I raise the rent this will be a good deal.”
1:27- Bill talks about his background and how he got into real estate
5:56- Bill gives his opinion if things are a little too frothy right now and if he’s concerned that something may happen to impact pricing
12:00- Bill talks about core cycles and where they pertain to
14:20- Bill shares his investment strategy in the ‘COVID world’
17:05- Bill talks about some tactics that he wrote about in his book
23:25- Bill talks about what he’s doing at this point in time to prepare for a potential future recession
26:59- Bill shares his most challenging deal and what he learned from it
Tue, 15 June 2021
Sterling Anderson is a real estate investor.
Sterling is the President & CEO of Red Oak Development (Formerly Sterling Capital Investments), a Real Estate Development/Investment company based in Omaha, NE. The company invests in and develops single-family, Multifamily, and Hotel properties
“It starts with the parent company. It starts with having to adhere to what they feel. You can have any idea in the world that you want, but if it’s not approved by AHG or Hilton or Radisson, then that’s an uphill battle that you’re facing.”
“You always explain to your investors that there is a risk of you not receiving your capital back.”
“I’d rather raise too much for deals and have to give some back than not raise enough.”
2:04- Sterling talks about his background and how he got into the real estate space
7:01- Sterling talks about where he finds distressed hotel sellers and pandemic pricing
13:04- Sterling gives stats on what he's planning for his hotels and what he’s hoping for
17:43- Sterling talks about hotel conversion to multi-family
19:10- Sterling shares what markets he is excited about
25:50- Sterling talks about day-to-day management with his hotels and how he avoids losing money with it
30:06- Sterling talks about being with a flag and if it brings buying power
33:11- Sterling shares his most challenging deal and what he learned from it
Tue, 8 June 2021
Jill DeWit & Steven Butala are real estate and raw land experts.
Since 1999, Jill and Steve have completed the acquisition and sale of more than 16,000 properties without incurring leverage or debt and continue to purchase property daily for immediate resale.
“The seller just doesn’t want it anymore. They are tired of getting the tax bills. They’re in a situation and need cash right now. They inherited it and didn’t even know they had it. There are all kinds of situations and they just don’t know what to do.”
“I love that we can buy and sell property all over the country and I don’t have to be there. We have members all over the world that are doing this very successfully.”
2:25- Jill and Steve talk about how they got into the real estate space and how they ended up in land investments
10:00- Jill and Steve share how they come up with the land value and what formula is used
17:16- Jill and Steve talk about their program and the kind of results you can expect from it
21:07- Jill and Steve talk about who the buyer typically is on the back end
29:49- Jill and Steve talk about the due diligence they do on their properties prior to buying
32:17- Jill and Steve share their most challenging deal and what they learned from it
Tue, 1 June 2021
Vince Guzzo is a businessman, entrepreneur, and philanthropist,
Vince is a Canadian entrepreneur who currently serves as CEO of Guzzo Cinemas, Guzzo Construction inc., Guzzo Medical, and Guzzo Hospitality.
Vince received national attention in 2018 when he joined the cast of the CBC Television business reality shows Dragons' Den as one of the investors. Additionally, Vince’s group is the largest movie operator in Quebec, with 141 screens and 10 locations, and the third-largest in Canada.
“Movie theatres have been competing with some form of in-home entertainment for about 120 years. At the end of the day, content is king. What does that content cost you? What is your talent in storytelling?”
“The deals that I did do, whatever mistake I made, I managed to turn the mistake into a learning lesson and at the end of the day, I don’t regret the bad deals. It’s the ones I didn’t do that I regret.”
1:32- Vince talks about his background and how he landed in the cinema space
9:15- Vince talks about if a business owner or idea itself is more important
11:46- Vince shares how COVID has impacted the cinema business
14:47- Vince talks about design changes prompted by COVID
19:08- Vince shares if cinemas have a plan to get people comfortable and excited for theatres again
26:27- Vince talks about how malls are doing in Canada and how that impacts cinemas
33:00- Vince talks about how streaming services have impacted the cinema industry
44:28- Vince shares his most challenging deal and what he learned from it
Tue, 25 May 2021
Gene Guarino is a real estate and senior living expert. Gene is a certified financial planner in the US and Australia as well as a full-time real estate investor with over 30 years of experience in just about every area of real estate including both residential and commercial, with his primary focus today being in the senior living space, or more specifically known as, residential assisted living homes, which is very different than your typical large multi-story senior care facilities you might be familiar with.
“Basically, it will boil down to: if you have a two thousand sq ft house, you could have ten people in it. Ten seniors in it. Now for me, that’s not big enough. I want luxury, I want more space. So, our rule of thumb is 300 sq ft of living space per resident.”
“No matter what is going on, pay attention to what is important. The people in your life; your spouse, your kids, your friends. Those relationships, that stuff is much more important than any business, real estate, money, any of that.”
2:07- Gene talks about his background and what he does now
4:57- Gene gives insight as to what the need is for senior living each year and how we can meet those needs
8:25- Gene talks about how the pandemic has impacted move-ins vs move-outs in senior living
12:42- Gene talks about changes that have and will be made to building design to help diminish the spread of germs
13:58- Gene gives examples of things they consider with the home itself before going through the conversion process
16:07- Gene talks about what the fastest path for this model is
20:03- Gene walks us through a typical transaction
22:36- Gene shares what kind of debt is available in this industry and funding options
32:05- Gene talks about the other spaces that he’s involved in
36:45- Gene shares his most challenging deal and what he learned from it
Tue, 18 May 2021
#323: Ground Leasing, Secure Investing, Generational Wealth Building, and So Much More! -with Steven Waldman
Steven Waldman is a real estate and ground lease expert.
Steven is the founder and president of Ground Lease Capital Partners, LLC; a national leader in Acquiring, Originating, and Investing in Ground Lease transactions as well as an Advisor to Institutional Investors who are seeking exposure to this asset class.
Prior to founding Ground Lease Capital Partners, LLC, Steven was the Co-Founder of Spectrum Advisors, a family of companies consisting of a Mezzanine Fund, a Title Insurance Agent, and a 1031 Exchange company, where he represented both High Net Worth and Institutional Investors in the acquisition of Ground Leases and Lease Hold positions. In this capacity, Steven successfully transacted over $700 million in acquisitions for his clients
“The ground has separate interest so the leaseholder can buy, sell, or keep as long as they like, and really the same goes for the ground.”
“What you’re really buying here is a super secured stream of income.”
“The beautiful thing about a ground lease is that if something goes wrong at a leasehold level with your tenant, you don’t have to foreclose and go through a lengthy process, you evict. Because it’s a lease and there are no landlord responsibilities to operate anything so there is nothing that the tenant can claim that the landlord did or didn’t do.”
1:58- Steven shares his background and how he got into the real estate space
4:09- Steven gives insight about where the capital comes from on the ground lease side
5:44- Steven shares the type of debt that is available for a ground lease today
6:45- Steven clarifies the type of assets that ground leases are under
9:42- Steven talks about the typical yields today In ground leasing
13:08- Steven shares the most challenging deal he’s done and what he learned from it
Tue, 11 May 2021
Ray Alcorn is a real estate expert and president of Park Commercial Real Estate.
Ray has extensive experience in business and real estate development, including hotels, restaurants, single- and multi-family housing, shopping centers, and office buildings. He is responsible for the overall direction of the Company, and the development and implementation of the Company's strategic plan.
“To me, there are four prices in the macroeconomy that matter. The first one on the list is the US dollar. Believe it or not, everything we do from wages to what we pay for a head of lettuce at the grocery store is tied to the value of the dollar.”
“Some of the failures taught the best lessons. Life is supposed to be accumulative. That means you’re going to make mistakes and the real sad part is if you don’t learn the lesson that mistake holds.”
1:56- Ray shares his background and how he got into the real estate space
8:55- Ray talks about how his business is doing and gives his opinion on other businesses in light of the pandemic
21:50- Ray talks about retail assets and what the future looks like in his eyes
30:42- Ray talks about his venture in hospitality
41:17- Ray shares what he’s doing to prepare for opportunities that may arise from the pandemic
45:03- Ray talks about his most challenging deal and how he got through it
Tue, 4 May 2021
#321: Starting Out, Thinking Like a Developer, Gaining Momentum, and So Much More! -with Brent Sprenkle
Brent Sprenkle is a real estate expert and senior managing director at Berkadia.
Berkadia is a leader in the commercial real estate industry, offering a robust suite of services to the multifamily and commercial property industry.
Berkadia was formed in 2009 as a joint venture of Berkshire Hathaway and Leucadia National Corporation (now Jefferies Financial Group) - both of which are renowned for their capital strength and sophisticated investment strategies.
Brent has more than twenty years of experience and expertise in commercial real estate at nationally recognized firms such as Berkadia and Sperry Van Ness, where he has been involved in more than $1.2 billion worth of commercial real estate transactions
In addition to his real estate activities, Brent is also a published author with the upcoming release of his book, Billion Dollar Portfolio. In this new book, Brent takes a deep dive into the certain personality type and key attributes it takes to thrive in and build a substantial portfolio of commercial real estate.
“If you underwrite 2-3 deals a day, and write 1 deal a day, that 5 offers a week. You’re going to end up landing way more deals than you know what to do with. At the end of the day, you’re going to lose all of your money by the down payments. You’re going to go broke, but then you bought all of these incredible deals and other people are going to see what you did and you’re going to be able to go out and get investors for these properties. So, at some point, you will spend all of your liquidity, but if you’re buying amazing properties, and other people see you’re able to source deals, manage them, turn them over, and prove them, you’re going to wind up with more investors than you know what to do with.”
“You have to have a developer’s mindset to the property. In this competitive market, where commercial real estate is so highly valued, you have to come in like a developer thinking how are you going to improve the asset. What are you going to do to take it from a 4 cap to a 5 ½ cap? How are you going to add value?”
2:44- Brent talks about his background and how he found himself in the real estate world
8:45- Brent tells what separates the successful from the unsuccessful in the brokerage world
16:40- Brent shares what makes a top-notch investor and talks about some of his best clients
19:41- Brent talks about how new investors can grab the attention of someone like himself
25:06- Brent talks about market-specific direct impacts that he’s seen on pricing with multi-family assets
33:48- Brent shares about how he stepped into the investment arena and how he juggles that along with brokerage
Tue, 27 April 2021
Gene Trowbridge is a nationally recognized securities attorney.
Gene has been in the commercial and investment real estate business continuously since 1972 and in the legal profession since 1996.
He is a member of the California Bar. And as the founding partner of Trowbridge Law Group LLP, Gene’s law practice concentrates on the syndication of commercial and investment real estate, through both debt and equity.
As a former syndicator, who for ten years raised investor capital; he served as the sponsor of sixteen investment groups, by raising equity from investors, through registered representatives in the broker-dealer community, once sending out 1,676 K1s in a single year.
He was responsible for the organization of those investment groups; the acquisition, management, and disposition of the real estate; and communications with the investors.
“The biggest mistake for new syndicators is trying to draft your own documents.”
“Investors need to take it upon themselves to get knowledgeable about mobile home parks, self-storage, multifamily. You need to have some education on the real estate.”
1:45- Gene shares about himself and how he got into the real estate space
6:46- Gene gives his opinion on if there are any changes coming down the pipe with the new administration that will impact syndicators
21:30- Gene shares some of the big mistakes that new syndicators make
29:44- Gene shares the advice he’d give new limited investors or passive partners
Tue, 20 April 2021
Mike Conlon is CEO and majority owner of Affordable Communities Group (ACG), LLC based in Cary, NC. ACG currently owns 22 manufactured home communities totaling 4,000+ spaces in Alabama, Georgia, Florida, Maryland, North Carolina, Ohio, and West Virginia with a market value exceeding $110 million. Mike has also bought, rehabbed, and sold 20 mobile home parks during the last 11 years for profits exceeding $15 million.
Prior to ACG, Mike owned Southeast Financial, LLC based in Orlando, Fl from 2002-06. At Southeast, Mike and his team bought, rehabbed, and subsequently sold 10 affordable apartment complexes, resulting in over $5 million of profits.
In the 1990s, Mike grew a financial planning broker-dealer from $1.2 million in gross revenue to over $40 million in five years and sold it to a large national insurance company. Mike also owned a financial planning practice that he grew to over $100 million in assets before selling in 2002. Mike received his law degree from the U. of Minnesota in 1990. Mike published his first book in January 2015 called Unconventional Wealth, which is available on Amazon.com. He also co-authored a book in September 2014 with sales guru Brian Tracy called Transform. Mike has been featured on ABC, CBS, CNN, CNBC, Fox, NBC, and The Wall Street Journal.
Mike is a current member of the Board of Directors at the Wake Tech Foundation and the Housing Authority of Wake County.
“If you buy it right, you make your money at purchase. If buy it right, you can always get out of it if it doesn’t work out for you and not take a significant hit.”
“If you’re newer to the business, and you have a limited amount of capital, the opportunity is in that 40-90 space park. You’re not going to run into the competition of the big boys because nobody really wants less than 100 if they don’t have to. So, that’s where to start.”
1:47- Mike shares his background and how he got into the real estate space
5:16- Mike tells how his business has evolved in the past 5 years
7:23- Mike talks about his preferred markets
12:37- Mike shares the biggest mistakes made on the operations side
19:12- Mike talks about used homes vs new homes
22:42- Mike tells how he adapted to the pandemic within his business
29:43- Mike shares his most challenging deal and how he handled it
Tue, 13 April 2021
Tom Burns is a surgeon and Real Estate Investment Expert.
Tom is an orthopedic surgeon in Austin, Texas. He is a graduate of the University of Texas at Austin and Southwestern Medical School in Dallas. He received sports medicine training at the prestigious Steadman Hawkins Fellowship in Vail, Colorado and he is a physician for the United States Ski Team. He has over 25 years of real estate experience, both locally and internationally, involving acquisition, development, and management of multifamily, student housing, land, manufactured housing, and medical office projects.
In addition to his real estate experience, he has co-founded, managed, and sold a free-standing, full-service hospital. Tom was a member of the Forbes Real Estate Council and is listed in the acknowledgment section of Robert Kiyosaki’s book, Rich Dad Poor Dad. He is frequently featured in nationally circulated print articles and popular real estate-oriented podcasts and has spoken to thousands of fellow physicians about how to achieve financial independence.
“HUD is very nice once you get it put together. In fact, you get 40 years and 20 months of fixed-rate, because you can get 20 months of construction financing.”
“Go work for someone that’s doing it and find out if you really like it, and you start learning there because it’s a big learning curve. Sometimes I go to bed at night and wish I could just buy something finished and cash flow it like the old days. But it’s got its rewards. It does feel good to take a piece of dirt and have a big hit.”
1:42- Tom talks about his background and how he found his way into real estate
6:00- Tom talks about the first properties he bought
10:34- Tom shares what his real estate business looks like today
16:36- Tom talks about his big challenges and how he overcame them
19:30- Tom talks about downward impacts as a result of the pandemic
22:54- Tom shares his most challenging deal and how he handled it
Tue, 6 April 2021
Donna Serdula is the creator of LinkedIn-Makeover.com and one of the most sought out LinkedIn experts.
Donna pioneered the concept of LinkedIn profile optimization and is the author of LinkedIn Profile Optimization for Dummies. Through her Website, LinkedIn-Makeover.com, Donna and her team of over 20 writers, help thousands of LinkedIn users strategically write their profile in order to engage with their audience and grow their brand.
Donna is an in-demand speaker throughout the US and she has been featured on Business Insider, Time’s Money Section, Wall Street Journal’s Market Watch, LA Times, NBC, SiriusXM Radio’s the Focus Group and many other news outlets.
“If you can organically work those keywords into your content, into your narrative, that’s when you’re really going to see that trifecta. You’re going to start seeing yourself popping up.”
“You want to make sure that your profile is relatively fresh. So, if you haven’t updated it in 3 months, in 6 months, in 3 years, you want to make sure that you update your profile because that shows LinkedIn that you’re paying attention to your brand and it’s fresh. It’s not stale.”
1:43- Donna shares her background and how she became a LinkedIn expert
5:56- Donna gives insight as to how the LinkedIn algorithm works and LinkedIn Live
9:53- Donna gives tips on what to be focused on with optimizing your LinkedIn profile
15:47- Donna shares her LinkedIn hacks
19:57- Donne gives advice for the person that gets overwhelmed by LinkedIn
Tue, 30 March 2021
Darin Garman is the president of Heartland Investment Group.
Darin is a published author, former bank owner, and currently owns and manages a $50+ million-dollar portfolio. He is widely recognized as one of America’s top “Go to Guys” for all things multi-family investing. His experience spans more than 30 years and is hyper-focused on investments in the Heartland region of America.
“What I tell people when they’re trying to get into their first investment properties, is I really encourage them to do a lot of the management themselves. At least for maybe the first year or two. Because, after you do that, to your point, the experience is invaluable in knowing what you need to know to be a really good manager/owner/investor moving forward. “
“There is not going to be any such thing as a perfect property. Even the most perfect property you look into buying, you will find a surprise or a few surprises here and there. However, you also want a certain set of criteria. That criteria isn’t necessarily etched in stone that you can’t waiver from that at all, but on the other hand you just can’t waiver from it too much just to get a deal done.”
1:34- Darin shares his background and how he found himself in real estate
7:35- Darin talks about the benefits that he gained long term from doing every job in the beginning
10:28- Darin gives his opinion on how the pandemic will impact the office space
12:44- Darin shares pricing differences he’s seen in his area in multi-family housing since last April
20:05- Darin talks about the most challenging deals he’s had
Tue, 23 March 2021
Dick Anagnost is the president and CEO of Anagnost Investment Group.
Dick has been recognized as a transformational leader and a dynamic force in the ongoing renaissance of Manchester, New Hampshire as he continues on his mission to revitalize the state’s largest city and change its skyline.
Dick has over 40 years of demonstrated achievements in industrial, commercial, residential, and land development. Through a public-private partnership with the city, he spearheaded the conversion of more than 40 significant properties in the downtown and renowned Millyard districts.
“A lot of people are known as real estate developers, but they really aren’t developers. What they are, is they’re following a mold or a trend that developers have set.”
“Real estate is a commodity like anything else. It’s definitely going to go up at some point, but it’s also definitely going to come down at some point.”
4:01- Dick talks about his background and how he made his way into the commercial real estate space
10:41- Dick tells us when he decided to get into the development side of the business and step into real estate full time
13:59- Dick talks about if he had mentors that helped him to learn the ropes
17:48- Dick shares challenges that he has faced with his business
20:51- Dick gives his opinion on if the pandemic will bring any new opportunities to New Hampshire
26:31- Dick tells us about challenges he has faced due to the pandemic
Tue, 16 March 2021
Thomas Jorglewich is the president and CEO of Toben Partners.
Toben partners is a Christian centered real estate investment and management company guided by Biblical principles and a servant’s heart. They specialize in strip and neighborhood shopping centers ranging from 10,000 to 50,000 square feet in size.
“I’m in the mode now where I’m trying to make a difference in something. I’ve stepped back to try to find out how I can give back something. I’ve been blessed, been very lucky.”
“What worked for me, is put other people’s interest before you own.”
3:18- Thomas shares his background
6:27- Thomas talks about some of the challenges he faced with his first development property
7:52- Thomas shares how his business has changed since he first began
10:47- Thomas gives his opinion on the changes that the pandemic will bring about
18:25- Thomas gives his opinion on if malls will be able to survive the pandemic
22:08- Thomas talks about the most challenging deal he’s ever dealt with
Tue, 9 March 2021
Philip Morgan is the CEO of the Morgan Group.
As Chief Executive Officer, Philip is responsible for leading MORGAN's strategic planning and growth across all business activities, including development, acquisitions, construction, and property management.
Since joining MORGAN, Philip has been involved in the development and acquisitions of over 7,000 units at a cost exceeding $1.8B in Texas, Arizona, California, Colorado, and Florida. Prior to joining MORGAN, Philip co-founded BlueRoot Partners to take advantage of opportunities to acquire distressed real estate assets in Texas.
Philip holds a Bachelor of Science in Economics from The Wharton School at The University of Pennsylvania.
“It’s really tough to do what we do and it’s only getting tougher. So, when you have something great, it can be tough to part with and you take a new risk every time you start over. “
“In hindsight, I see that a lot of people put pressure on themselves for their first job out of school or their first couple jobs out of school, what they want to do with their lives. And, I think there is nothing more important than finding great mentors and something that you have a passion for.”
3:34- Philip shares his background
8:49- Philip talks about the founding of the Morgan Group
17:53- Philip talks about the markets today that he is most excited about
19:27- Philip talks about collection trends in the industry
23:09- Philip shares if there will be any shifts in developmental models for the future
26:48- Philip talks about a challenging deal that he’s dealt with
Tue, 2 March 2021
Spencer Cullor is a multifamily investor and syndicator. Spencer holds expertise in commercial, multifamily, and residential real estate. He also spent several years as a homebuilder before moving over to the investment side. Using his skills in project management, capital raising, financial analysis, construction, and contract management, he has successfully owned and managed multiple framing crews, has overseen numerous rehabilitations and flips of residential homes, multifamily properties, and started his own property management company specializing in multifamily and commercial properties.
“When you’re getting started or new to the business, take on mechanical systems that you understand and take on much less risk so you can understand the business side of it. Take on easy projects first and get to know it.”
“The most important thing when we were getting started, is we really became a student of the industry. So, really really learn the business from the ground up.”
3:41- Spencer talks about his background and how he got into real estate
13:24- Spencer talks about his property management business
22:36- Spencer talks about collections due to the pandemic
26:05- Spencer shares the most challenging deal he’s ever had
Tue, 23 February 2021
Jay Several is a real estate investor and developer.
Jay is the Principal of Several Properties Group, a Cherry Hill, NJ-based developer and asset manager of value-add retail properties. Several Properties develops and manages properties in Pennsylvania, New Jersey, and New York. Jay is involved in every aspect of the development process for each property including location logistics and metrics, acquisition, financing, entitlement, leasing, construction, tenant fit-out, and asset management.
Since 2007 Mr. Several has been totally responsible for creatively re-developed vacant, obsolete, and abandoned properties into vibrant retail assets valued at over $ 40.0 million.
“Everything is about relationships. You can feel like you know what you’re doing, but to be able to confirm that, you have to have lots of friends in the industry. People that know you, they know what you can do. And when they have something, they will come to you.”
“Listen, watch, and do as much homework as possible. Start small and think big. If you have a lot to lose, put it on the line.”
3:38- Jay tells us about his background, how he got into real estate, and what he does
6:13- Jay talks about what point he made the transition from family housing to commercial projects
11:56- Jay shares how he knows he has found a strong candidate
17:30- Jay tells what his typical business model looks like
21:06- Jay gives his opinion on if new opportunities will arise from the pandemic
Tue, 9 February 2021
Brian Carberry is the senior managing director and editor of apartment guide & rent.com.
Brian has more than 15 years of experience as a content creator and award-winning journalist and is currently the senior managing editor of Apartment Guide and Rent.com. His work has been featured on CNN, Search Engine Land, Campaign Monitor, and a number of other organizations around the world.
“If you’re not paying rent, bank that money. Invest it in some way, put it in a CD, whatever you’re going to do, and get a little bit more for a down payment.”
“There’s always going to be a risk involved, as everyone knows with investing. Right now, that risk might be slightly higher, but I do think the market is going to rebound. I don’t think we’re always going to see these trends of these hot cities coming down. Just find that level of risk that you’re comfortable with. Whether it’s with investing, or really anything. And if you are comfortable with something, go ahead and do it. Don’t play the what-if game.”
4:27- Brian shares about his background and how he got into the real estate space
8:28- Brian talks about trends pertaining to rental rates
14:54- Brian talks about which parts of the country have seen the “boom”
20:44- Brian gives his opinion on if the new shared housing trend will cause an oversupply of rental properties not being utilized
Tue, 2 February 2021
Kyle Herring is a public adjuster and partner at Strategic Claims Consultants. Kyle has nearly 2 decades of experience as a public adjuster and has worked on major disasters across the country. This is one of those topics that a lot of investors don’t think about until disaster strikes. I think we can all agree, owning investment property is a great thing when things are going well, but what happens if your precious investment property sustains major damage or a complete loss? In today’s show, Kyle and I will discuss how to successfully navigate the claims process should you encounter an unfortunate loss to your investment property.
“100% of the time we can get you more money than your private insurance adjuster can. Just like you wouldn’t send your 1099 to the IRS and ask how much your taxes are, it’s the same with insurance. You need to tell them this is my benefit; this is my claim.”
“Don’t be penny-wise and dollar foolish. A few dollars saved on premiums could cost you tens of thousands on the backend whenever you actually need it to come to fruition.”
4:00- Kyle shares his background and talks about his firm and what they do
9:50- Kyle tells us what the important aspects are of hiring a public adjuster
15:55- Kyle gives interview tips for hiring and adjustor and tells what red flags you should look for
Tue, 26 January 2021
Adrian Washington is the CEO and founder of the neighborhood development company.
Adrian has more than 30 years of experience in urban real estate development, construction, and management. Since founding NDC in 1999 he has led the development of over 1 million square feet of real estate in the Washington DC area with an active pipeline of another half-million. NDC is also a partner in the District’s City Center DC project and in Baltimore’s State Center project.
From 2005 until early 2007 Adrian took a leave of absence from NDC to serve as the President and CEO of the Anacostia Waterfront Corporation (AWC), which is the entity charged with leading the redevelopment of the city’s Southwest and Anacostia Waterfronts, including Nationals Stadium, the Yards, and the Wharf. Adrian grew up in the city’s Anacostia neighborhood and is a lifelong resident of DC. He is a graduate of Stanford University and Harvard Business School.
“We like variety from both an economic portfolio balance perspective, but also from an interest perspective. I’ve done this for a while now, I want to have that variety and my team likes different kinds of projects. So, we do for-sale condos, market-rate rental buildings, market-rate commercial buildings, and we also do affordable housing because it’s a good business, but it’s also a good way to give back.”
“The supply and demand imbalance, if anything, has gotten worse for the buyer. The prices have gone up tremendously there (single-family homes) and the selling cycle has gotten shorter, and for the condo project we had, the same type of thing."
3:24- Adrienne talks about his background and how he made his way into the real estate space
11:03- Adrienne tells us about what he builds to keep and builds to sell
16:09- Adrienne talks about the impact of COVID in the area that he does his business in
19:45- Adrienne tells us about the most rewarding project that he’s ever been a part of
Tue, 19 January 2021
#306: Real Estate Through the Years, Investing During Recessions, and Much More! -with Larry Lieberman
Larry Lieberman is the president and founder of the Barrington Group. For more than 40 years, The Barrington Group's company philosophy has been to provide excellent quality maintenance service, good clean, well-manicured grounds, well-prepared apartments, friendly courteous professional staff members, and a genuine real concern for the health, safety, and well-being of their residents.
“There were companies out buying everything in sight, but we couldn’t compete because we wanted cash flow absent of the tax benefits. We weren’t players. We weren’t out building and developing and buying because we couldn’t compete with the tax credit mentality.”
“The basic components that we adhered to, to turn properties around in the ’60s, was I believe in giving a good, well maintained and clean apartment for a reasonable price. And for which, I expect my rent, and I expect it on time. We adhere to that, and we’ll do our part first so that you’ll do your part second.”
5:22- Larry tells us about his background and how he found his way into real estate
13:39- Larry shares how prior to 1987 he kept from falling into the trap of bad deals due to inflation
18:53- Larry tells us about changes in his property management style that helped him manage his business more efficiently in the 60s after acquiring 2000 assets
21:23- Larry shares the struggles he has faced in his career and how he has overcome them
27:04- Larry tells us how he makes determinations in large rehab projects as to not over renovate
30:40- Larry talks about the best-valued lifestyle commodities in communities
32:27- Larry tells us about shifts and changes he’s made due to COVID
Tue, 12 January 2021
Janine Yorio is head of the real estate group at Republic.
Republic is a leading alternative investment platform open to all investors and has closed over $150 million in investments in 200+ companies throughout 100 countries. Republic is backed by both strategic capital partners and traditional venture capital firms including Binance and Passport Capital. Founded in 2016, Republic is based in New York City and has 50 employees.
“This is a platform where people are looking to fill their bucket with alternative investments. Different people want to see different things. They don’t come to Republic looking to invest in public equities and stocks, but they do come to Republic looking for unique investment opportunities that are uncorrelated. Some of which have really high potential risk rewards that would be very difficult to find in a public market type of platform.”
3:40- Janine tells us about Republic, what they offer, and her background
6:54- Janine tells us about how cross-pollination in their userbase with niches and sectors
8:23- Janine explains what separates the Republic platform from the multiple other real estate crowdfunding platforms that exist today
17:50- Janine gives her viewpoint on trends and patterns in her business due to COVID
23:00- COVID impacts on different industries
Tue, 5 January 2021
Joe Muratore is the co-CEO of Grace-ada Partners.
Grace-ada is a commercial real estate investment firm that specializes in Large-Scale Value-Add Commercial Real Estate in California’s Central Valley. More specifically, Grace-ada focuses on Central Valley office buildings and shopping centers and currently has over $150 million in assets under ownership and $300 million under 3rd party management.
“It’s a negotiation, but our job is to start, like with any negotiation, with letting our tenants feel heard. We can’t force them into a box and if we do, it will backfire.”
“Success favors the bold. There is a lot of value in just taking that next step. There is a great book called The Hard Thing About Hard Things and the core value there is if it were easy to get from A to B, that’s a commoditized thing and it’s going to pay very poorly. In this business, there is very rarely a clear path from A to B, but after a while, you develop 4 or 5 different bread crumbs that you’re able to spot, and you’re able to make a path from A to B that others can’t see.”
4:04- Joe tells us about his background and how he found himself in real estate
14:50- Joe tells us if he thinks that COVID is the nail in the coffin for traditional retail and why
23:56- Joe shares how he approaches his tenant’s intentions to continue working and innovate through COVID
27:44- Joe explains what things look like from the lending side of things
35:39- Joe shares and direct impacts that correlate to his investors