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