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.