Real Estate Investing for Cash Flow with Kevin Bupp

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 

Guest Website: 

Direct download: Adrian_Washington_Edited_with_AD.mp3
Category:general -- posted at: 12:00am EDT

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.  
The Barrington Group believes in long-term ownership.  They do not “build and sell” or “flip” their properties; in fact, they still own and manage most of their original portfolio. 
An excerpt from their website, which I think will provide some additional context to the type of company Barrington is - “We know our residents, they know us…. we strive to have the same staff at a property year after year. Our residents are not subject to “new management” with changing rules and fewer quality standards. Because we are long-term owners, we must pay attention to keeping our properties in excellent physical condition…. to prevent them from aging… we spend considerable resources on keeping our properties beautiful. 


“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 

Guest Website: 

Direct download: Larry_Lieberman_Edited_AD.mp3
Category:general -- posted at: 12:00am EDT

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 

Guest Website: 

Direct download: Janine_Yorio_Edited_AD.mp3
Category:general -- posted at: 12:00am EDT

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 


Guest Website:

Direct download: Joe_Mura-toree_Edited.mp3
Category:general -- posted at: 12:00am EDT