Adventures in CRE Audio Series: Recent Episodes
The A.CRE Team
Join the Adventures in CRE Team, Michael Belasco, Spencer Burton, and the series' host Sam Carlson, as they interview some of the brightest minds in real estate financial modeling, careers, and education.
Ready to move from curious to AI native in commercial real estate? In this episode, Sam, Spencer, and Michael unveil AI Edge, a new A.CRE membership that delivers signal (not noise), skills (not fluff), and real tools to multiply your output. If you want to stand out in the AI era, this is where to start.
Read the transcript: https://www.adventuresincre.com/audioseries-s6e6/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
Learn more about The CRE Edge AI: https://theCREedge.AI
Feeling overwhelmed by AI hype? In this episode, Sam, Spencer, and Michael unpack how to filter the noise, spot real signals, and focus on what truly matters—so you can take action with confidence and clarity in your CRE career.
Read the transcript: https://www.adventuresincre.com/audioseries-s6e4/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
Learn more about The CRE Edge AI: https://theCREedge.AI
Think AI is too technical? In this episode, the team lays out a 30-day challenge to help you become AI capable—no coding background required. You’ll learn what to study, what tools to try, and how to go from tinkerer to teacher, all within one month.
Read the transcript: https://www.adventuresincre.com/audioseries-s6e5/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
Learn more about The CRE Edge AI: https://theCREedge.AI
What does it mean to be “AI native”? In this episode, Spencer, Michael, and Sam break down the mindset, skillsets, and strategies that separate AI users from AI masters. They explore the power of pairing deep CRE expertise with smart AI tools—and why the best time to start is now.
Read the transcript: https://www.adventuresincre.com/audioseries-s6e3/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
Learn more about The CRE Edge AI: https://theCREedge.AI
Is AI a seismic shift or just another tech trend? In this episode, Spencer, Michael, and Sam debate the stakes, discuss why fear holds professionals back, and offer a roadmap for becoming AI native—before it’s too late.
Read the transcript: https://www.adventuresincre.com/audioseries-s6e2/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
Learn more about The CRE Edge AI: https://theCREedge.AI
Season 6 kicks off with Sam, Spencer, and Michael setting the stage for a deep dive into the CRE era of AI. They explore why becoming AI-native is the new career differentiator and what this paradigm shift means for forward-thinking professionals.
Read the transcript: https://www.adventuresincre.com/audioseries-s6e1/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
Learn more about The CRE Edge AI: https://theCREedge.AI
Join Spencer Burton and Michael Belasco in this episode of the A.CRE Audio Series as they explore Modeling Like a Deal Seasoned Pro and introduce the new Accelerator 3.0.
Learn why they created the Accelerator, how it accelerates real estate financial modeling mastery, and what's new in 3.0—including AI tools, networking features, and accountability options.
Listen now to discover how the Accelerator 3.0 can elevate your real estate career!
Read the transcript: https://www.adventuresincre.com/audioseries-s5e3/
Learn more about the Accelerator 3.0: https://www.adventuresincre.com/introducing-new-learning-platform-accelerator/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
In this episode, Spencer Burton and Michael Belasco break down the game-changing technology of AI Agents and their impact on commercial real estate (CRE). Learn how these bodiless robots can automate repetitive yet highly technical tasks like broker opinions of value (BOVs) and construction draws.
Unlike traditional software solutions, AI agents integrate directly into your existing workflows, saving time and increasing efficiency without the need for new systems. They also discuss the potential benefits and challenges of AI adoption, including how it could reshape the competitive landscape for both large institutions and smaller, entrepreneurial firms.
Watch now to discover how AI agents are shaping the future of CRE operations!
Read the transcript: https://www.adventuresincre.com/audioseries-s5e5/
Discover Spencer Burton’s new AI-driven company, CRE Agents: https://www.creagents.com/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
In this episode of the Adventures in CRE Audio Series, Spencer Burton and Michael Belasco explore Generative AI and its growing role in commercial real estate.
Learn how generative AI differs from traditional AI, the opportunities it presents for improving productivity, and why it’s crucial to understand its limitations. Spencer shares real-world applications for tasks like brainstorming, writing, and research, along with tips on how to work effectively with these powerful tools.
Listen now to discover how generative AI is shaping the future of CRE!
Read the transcript: https://www.adventuresincre.com/audioseries-s5e4/
Check out RV @ Olympic, a flagship project discussed in this episode: https://rvatolympic.com/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
What does AI mean for the future of jobs in commercial real estate? In this final episode of Season 5, Spencer and Michael tackle the ethical questions and real-life impacts of AI on the workforce. They discuss the potential for job displacement, the new opportunities emerging from automation, and how professionals can adapt by developing strategic and technical skills.
Don’t miss this in-depth discussion on the future of AI in commercial real estate operations and career growth!
Read the transcript: https://www.adventuresincre.com/audioseries-s5e8/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
AI isn’t just virtual anymore—it’s physical. In this episode of the A.CRE Audio Series, Spencer and Michael dive into the growing role of Physical AI, or robotics, in commercial real estate. Discover how technologies like cashierless stores, drone inspections, and even humanoid robots are changing the way properties are managed. They also share how their RV@Olympic project is serving as a testing ground for cutting-edge automation strategies. Don't miss this deep dive into the future of real estate operations!
Read the transcript: https://www.adventuresincre.com/audioseries-s5e7/
Check out RV @ Olympic, a flagship project discussed in this episode: https://rvatolympic.com/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
In this episode of the Adventures in CRE Audio Series, Spencer Burton unveils CRE Agents, his newest venture that aims to transform commercial real estate with the power of vertical AI agents. This innovative platform, built on technology developed at Stablewood, automates repetitive yet critical tasks, allowing CRE professionals to focus on strategy and relationships rather than administrative burdens.
Spencer explains how the concept for CRE Agents was born, what sets AI agents apart from traditional SaaS tools, and why now is the perfect moment for this technology. He shares insights on the challenges and opportunities in the industry, how his co-founder Gert Stahl’s expertise complements his own, and the enormous potential for growth in AI-driven real estate solutions.
With this launch, CRE Agents is set to reshape the way real estate professionals work, and Spencer provides a glimpse into what's ahead for the platform over the next year. Don't miss this exciting conversation that reveals how AI agents are changing the game in commercial real estate.
Read the transcript: https://www.adventuresincre.com/audioseries-s5e6/
Discover Spencer Burton’s new AI-driven company, CRE Agents: https://www.creagents.com/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
Welcome to Season 5 of the Adventures in CRE Audio Series! Spencer Burton and Michael Belasco are back to take you on another exciting journey through the world of commercial real estate.
This season, they'll explore AI developments, share major announcements like the launch of A.CRE's Accelerator 3.0 platform, and discuss how these innovations impact the CRE industry.
Watch this episode to learn all about what’s coming up in Season 5 of the A.CRE Audio Series!
Read the transcript: https://www.adventuresincre.com/audioseries-s5e1/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
In this episode of the Adventures in CRE Audio Series, Spencer Burton and Michael Belasco discuss what's new in their lives and at A.CRE.
Michael provides an update on his RV@Olympic project, sharing insights into the challenges and successes that have shaped the development so far. Spencer talks about his move to Miami and the launch of CRE Agents, a new AI-powered platform for commercial real estate. Together, they highlight major A.CRE initiatives, including an expanded glossary of CRE terms, new university profiles, Spanish-language content, and the highly anticipated release of Accelerator 3.0.
Stay tuned for valuable insights and updates from the A.CRE team!
Read the transcript: https://www.adventuresincre.com/audioseries-s5e2/
Learn more about the Accelerator 3.0: https://www.adventuresincre.com/introducing-new-learning-platform-accelerator/
Take your real estate career to the next level with the Accelerator 3.0: https://adventuresincre.shop/accelerator/
Explore more insights and resources on commercial real estate at Adventures in CRE: https://adventuresincre.com
In this episode of the A.CRE Audio series, Michael walks Spencer and Sam through the RV park development model used to analyze Michael's current project with Firm Ridge, RV@Olympic, spotlighted in episode 8. Michael also shares additional insights on the overall strategy, supply and demand dynamics, the strategic location, and market positioning of the RV@Olypmic project for a comprehensive understanding of the factors driving its potential success.
You can download the underwriting model discussed here: https://www.adventuresincre.com/rv-park-development-model/
Learn more about RV@Olympic: https://rvatolympic.com/
Read the transcript: https://www.adventuresincre.com/audioseries-s4e9
In this episode of the A.CRE Audio series, Sam, Michael, and Spencer talk about the role that CRE teams play in different real estate strategies. Michael's current work at Firm Ridge lays the foundation for the conversation and allows Michael to share his experience with how a well-assembled team is important. In this conversation, the guys cover topics such as entitlements, local expertise, contractors, and more.
Listen to this episode for a comprehensive understanding of how assembling the right CRE team contributes to success in real estate strategies. Read the article: https://www.adventuresincre.com/audioseries-s4e7/
In this episode of the A.CRE Audio Series, led by Michael, who is working on an RV Park development with Firm Ridge, the guys talk about the burgeoning RV park market. RV parks can serve as a good investment opportunity, as they are flexible, short-term ground lease opportunities with guests bringing their own RVs. Michael's RV Park development strategy focuses on developing a portfolio of RV parks close to national parks, capitalizing on the soaring demand for RV ownership and rentals coupled with limited supply.
Listen to this episode to learn about the RV Park market and Michael's RV@Olympic development with Firm Ridge.
Read the article: https://www.adventuresincre.com/audioseries-s4e8/
In this special intermission episode of the A.CRE Audio series, Sam Carlson, a member of the A.CRE team, takes center stage as he shares insights into his background and the role he plays within the A.CRE. Sam also discusses his approach to strategy, marketing, and persuasion, and offers valuable advice to job seekers and others looking to market themselves effectively.
Listen to this episode to hear Sam's journey from running a software company in marketing and advertising to joining the world of real estate and financial modeling.
Read the article: https://www.adventuresincre.com/audioseries-s4e6/
In this episode of the A.CRE Audio Series, Spencer, Sam, and Michael explore the concept of "super forecasting," featured in the book "Superforecasting" by Philip Tetlock and Dan Gardner. The guys discuss the skills of super forecasters, people with a knack for prediction, and how they can be valuable in CRE. Through a practical forecasting exercise, they highlight the significance of the methodology used in superforecasting prediction.
Listen to this episode for a deeper exploration of super forecasting principles in the context of commercial real estate.
Read the article: https://www.adventuresincre.com/audioseries-s4e5/
Get the book: https://www.amazon.co.uk/Superforecasting-Science-Prediction-Philip-Tetlock/dp/1847947158
In this episode of the A.CRE Audio Series, the team explores the impact of AI on the world of commercial real estate. While the last episode talked about AI in general, this episode discusses how it applies to CRE. This episode explores how AI is reshaping careers within the industry, and how roles may evolve in the future. From AI-driven screening interviews to the prospect of customized, in-house tools, the episode touches on various use cases that could revolutionize CRE.
Tune in below to explore the possibilities and challenges AI is bringing to commercial real estate.
Read the article: https://www.adventuresincre.com/audioseries-s4e4/
In this episode of the A.CRE Audio Series, Spencer, Sam, and Michael discuss the evolving landscape of commercial real estate in a world where AI is becoming extremely prominent. They explore the real impact of AI on business and whether all the publicity surrounding it is justified. From AI-powered Excel add-ins to interview preparation coaching, the team at A.CRE shares their experiences in harnessing the power of AI to make significant strides in the field.
Join the conversation to learn about the AI paradigm shift and how it's changing the way the industry operates.
Read the article: https://www.adventuresincre.com/audioseries-s4e3/
Welcome back to season 4 of the A.CRE Audio Series! In this latest podcast episode, Spencer, Sam, and Michael discuss the disruption and evolution that has occurred in real estate and capital markets in the past several years. Specifically, we'll talk about how rising interest rates and the post-COVID world have changed CRE.
Listen here to learn about risks, opportunities, and changing human behavior in this new episode. Read the article: https://www.adventuresincre.com/audioseries-s4e2/
Welcome back to this new season 4 of the Adventures in CRE Audio Series! Join Sam, Michael, and Spencer as they take you on a journey through the future of commercial real estate. This season, they'll dive into AI, evolving CRE trends, and provide an exclusive inside look at a real deal in progress.
Listen to this episode to learn about everything you can expect from season 4 of the A.CRE Audio Series.
In this episode of the A.CRE Audio series, Spencer, Michael, and Sam consult Michael Hetchkop about the complicated world of commercial real estate lease audits. Michael Hetchkop, a seasoned professional in the field, shares his expertise on the nuances of lease audits, the complexities of lease terms and expenses, and common issues that can arise when leases are not thoroughly examined.
Whether you're a tenant looking to ensure you're not overpaying or a property owner seeking transparency in your financial transactions, listen to this episode to learn about this essential aspect of commercial real estate management. Read the Article: https://www.adventuresincre.com/audioseries-s3sp23/
Learn More about Michael: https://www.cresa.com/Locations/North-America/Maryland/Bethesda-MD/Associate-Bios-Bethesda-MD/Mike-Hetchkop
In the latest episode of the A.CRE Audio Series, Spencer, Sam, and Michael delve into the world of real estate investment funds with Matt Burk, CEO of Fairway America. Matt brings a wealth of experience, having transitioned from individual deals to pooled investment funds in the late '90s. This episode explores various facets of real estate fund management, from understanding the ideal profile of a sponsor to considerations for LPs (limited partners) and different fund structures.
Listen to this episode to learn about various asset types, fund structures, and considerations for investors.
In the newest episode of the A.CRE Audio Series, James Nelson, principal and head of Avison Young's Tri-State Investment Sales Group (as well as an active CRE investor himself), shares his insights and expertise on various aspects of real estate investing to help CRE professionals develop an insider's edge with their investments. James and the guys discuss multiple topics such as finding opportunities, leveraging partnerships, understanding seller motivations, and the importance of transparency in the buying and selling process. He emphasizes the need for a comprehensive understanding of the market, the importance of due diligence, and the value of building strong relationships with industry professionals. James's practical advice and approach provide valuable guidance for both experienced investors and those new to the real estate industry.
Listen to this episode to hear about James's insights and expertise to help you gain an insider's edge in your real estate pursuits.
In this episode of the Adventures in CRE podcast, Chad Hagle, CEO of Aventine Development and founding member of the Stanford Professionals in Real Estate (SPIRE), discusses the importance of CRE alumni associations and networking in launching successful careers. Chad shares his experience in forming SPIRE and overcoming initial resistance, highlighting the power of creating a culture and mission within an organization. He emphasizes the value of relationships and performance in career advancement and encourages students, alumni, and administrators to collaborate and support one another.
Listen to learn Chad's insights on how building a community through alumni associations can positively impact careers in real estate and beyond.
Connect with Chad: https://www.linkedin.com/in/chad-hagle-00633b7/
Read the article: https://www.adventuresincre.com/audioseries-s3spe19/
Listen to Dadages: https://dadages.com/
Real estate case competitions are a great opportunity for real estate students to show what they know and practice skills used in the real estate industry. Winning a competition can be a great achievement and improve a student's future. In this article, we will explore the success story of Monty McClendon and Justin Du from the University of Texas at Austin, who recently won the Undergraduate Real Estate Case Competition in Austin. We will delve into their strategy, preparation, and execution, and provide some insights on how to win a real estate case competition.
Listen to this episode to hear some valuable tips on how to succeed in a real estate case competition and how Monty and Justin did it.
Connect with Justin: https://www.linkedin.com/in/justin-du-cbhp/
Connect with Monty: https://www.linkedin.com/in/montgomerymcclendon/
In the midst of conflict and uncertainty, chasing a dream can seem like a daunting task. For Dima Nazarenko, who's featured in this special episode of the A.CRE Audio Series, this was establishing a successful career in commercial real estate. Despite the challenges posed by the ongoing armed conflict in his home country, Dima remains undeterred in his pursuit of a career in CRE in Ukraine.
Watch this episode below to hear about how he got into the real estate industry and the challenges he's faced during the armed conflict in Ukraine.
Read the transcript: https://www.adventuresincre.com/audioseries-s3spe17/
In today's society, diversity and inclusivity have become important topics across all industries, including commercial real estate. As businesses strive to be more representative of the communities they serve, CRE professionals are also recognizing the benefits of a diverse team. To gain insights on the topic of diversifying CRE, we sat down with Angela Gorbold and Pamela McKoin from Sponsors for Educational Opportunity (SEO) USA, who shared their experiences in the field.
Listen to this episode to hear their valuable insight into the importance of diversifying CRE and how SEO is working towards achieving more diversity in CRE.
SEO's website: https://www.seo-usa.org/
Connect with Angela: https://www.linkedin.com/in/angela-gorbold/
Connect with Pamela: https://www.linkedin.com/in/pamela-mckoin-ab116814/
In times of economic uncertainty, commercial real estate (CRE) professionals face unique challenges in navigating the market. To gain insights into how to manage these challenges, we sat down with seasoned CRE pro and founder of Patriot Holdings, Jeremiah Boucher, to get his advice. With decades of experience in the industry, Jeremiah has weathered multiple economic downturns and emerged stronger. Listen to this episode to hear his valuable insights on how to navigate the current landscape of economic uncertainty and set yourself up for success in the CRE market during times of economic uncertainty.
Connect with Jeremiah Boucher: https://www.linkedin.com/in/jeremiah-boucher/
Check out Patriot Holdings: https://www.patriotholdings.com/
In this newest Accelerator in Action episode, Sam talks to Travis Headaphol. Travis, like many young professionals, started his career in commercial real estate as a student. Through dedication, hard work, and a commitment to learning, he went from a novice to a skilled CRE analyst. In this podcast episode, we'll take a closer look at Travis's journey and the steps he took to succeed in this dynamic field.
Read the episode transcript: https://www.adventuresincre.com/audioseries-aia10/
Connect with Travis: https://www.linkedin.com/in/travis-headapohl-a53339158/
View all of the models in our Library of Real Estate Excel models: https://www.adventuresincre.com/library-real-estate-excel-models/
Learn to build institutional-quality real estate models: https://www.adventuresincre.com/accelerator/
In this newest special episode of the A.CRE Audio Series, Sam and Michael talk with Kyle Keene from Keene Development Group. Kyle transitioned from working for a construction management group into starting his own development group.
Listen to this episode to learn about how to bridge the gap from employee to entrepreneur and how to make the transition.
In this newest special episode of the A.CRE Audio Series, Sam, Michael, and Spencer talk to George Burchlaw and Carol Ann Flint from Re Analytics Business Development. RE Analytics is a service that partners with real estate investment companies to provide efficient, cost-effective back-office asset management and analyst services.
Listen to this episode to learn about RE Analytics and how they solve the problem of common complications of handling information and documents through the entire lifecycle of commercial real estate.
In this special episode of the A.CRE Audio Series, Sam, Michael, and Spencer talk to Brian Murray, the CEO of Shift Capital. Shift Capital is a B-certified impact real estate group. A B-certification is a designation that certifies that a group focuses on social and environmental returns to society.
Founded with the mission of influencing the poverty equation, Brian Murray and his team at Shift Capital invest in underserved local communities. They function in such a way so that they're not multi-family developers, not office developers, not affordable housing developers, not retail developers or holders but really a combination of all of those things. Listen to this episode to learn about how Shift Capital uses real estate to do good in the world.
In this special episode of the A.CRE Audio Series, we feature Brandt Foster, Director at Northwestern Mutual Real Estate, one of the largest real estate investors in the nation. In this conversation, Spencer and Sam ask Brandt about MHCs, manufactured housing communities, where there are multiple different tiers of property types that sit within the community.
Here at A.CRE we have our own specialties when it comes to real estate properties that we tend to focus on. As we've expanded, however, we've done our best to cover lots of different investments. This episode is part of that. We brought on expert Brandt Foster to provide you, our readers, with more information on an investment type we may not be as familiar with. Watch below to hear advice from a seasoned CRE professional on the details of manufactured housing community real estate investments.
In this special episode of the A.CRE Audio Series, we feature Yaakov Zar and Sammy Greenwall, the founders of Lev Capital, a commercial mortgage marketplace for capital market advisors. In this conversation, Spencer, Michael and Sam ask Yaakov and Sammy about what Lev is doing to bring real estate financing into the 21st century. Watch, listen, or read below to learn about Lev Capital, how they're inventing new technologies and innovating real estate capital, and their plans for the future. Connect with Yaakov: https://www.linkedin.com/in/yjzar/ Connect with Sammy: https://www.linkedin.com/in/sammy-greenwall-387b3256/ Learn more about Lev Capital: https://www.levcapital.com/ Read the post: https://www.adventuresincre.com/audioseries-s3spe9/ Register for the Accelerator: https://www.adventuresincre.com/accelerator/
This episode of the A.CRE Audio Series features Jacob Deva Racusin, a real estate professional and co-founder of New Frameworks. New Frameworks is a worker-owned cooperative focused on environment-friendly construction. An active member of the carbon leadership forum, Jacob is engaged in code and policy development, professional training, and other initiatives supporting the transition to a more just industry.
Watch, listen, or read this episode to hear Spencer, Michael, and Sam speak with Deva on construction and the environment in real estate.
Connect with Deva: https://www.linkedin.com/in/jacob-deva-racusin-7a41603/
Learn more about New Frameworks: https://newframeworks.com/
This episode of the A.CRE Audio Series features Aleksandr Gampel, a real estate professional and co-founder of Cuby Technologies. Cuby is a tech company working to change the way we build buildings altogether. If you look into the recent past, you'll see that the construction process overall hasn't changed in decades. With the huge growth of commercial real estate and its emphasis on the asset class, the demand for construction is higher than ever. However, with how we build today, it would be nearly impossible to meet this demand. There's just not enough labor to deliver on those buildings. This results in high costs and developers so squeezed on returns that they're unable to find as many deals. Aleksandr Gampel and his company, Cuby Technologies, work to solve this problem. Listen here to see Spencer, Michael, and Sam speak with Aleks on technology and construction in real estate and how they've evolved over time.
In this special episode of the A.CRE Audio Series, we talk with a special guest and friend to A.CRE, Oliver Beavers, the founder of Phosphor who is working on a new financial modeling tool. Originally, similar to multiple new professionals in the industry, Oliver entered the finance world needing to learn Excel to map out complex financial deals. As many of our users know very well, the process of creating and modifying financial models can be a hugely time-consuming effort, which may require multiple iterations, which then can create quite a strain on those tasked with that responsibility. Additionally, any changes made to the model create the extra headache of updating all the associated investment memos and project deliverables that are tied to that model.
Due to this experience, Oliver has sought to create a more intuitive, easy-to-use tool specifically catered towards financial modeling. With a whole new engine, Phosphor is in a very simplified language that is nearly identical to Excel with name ranges but sans many of the common pain points experienced by financial modelers. Check out our interview with Oliver below.
In 2018, Michael and I designed and built the A.CRE Accelerator program. We sought to build the preeminent tool for learning and mastering real estate financial modeling. It was intended to provide a clear path to real estate financial modeling mastery, and ultimately give Accelerator Graduates a significant advantage in the industry. Now as we approach the 3-year anniversary of the Accelerator's initial launch, it's inspiring to see how the Accelerator program has accomplished all of that and more! Today, the Accelerator program is used by dozens of top universities and institutional real estate firms to teach the next generation of real estate professionals. Thousands of individuals have likewise leveraged this case-based program to master real estate financial modeling, model their own deals, land a job in CRE, and further their careers in real estate. The program's Certificate of Completion is viewed by employers and investors as a strong assurance of the Accelerator Graduate's commitment to the industry and as evidence of their superior real estate financial analysis skills. But with all things tech, consistent innovation and improvement is essential. So, to ensure the Accelerator's long-term prominence and to offer an improved experience for members, we've spent the past year building the Accelerator's next-gen learning platform. Today, we're excited to announce the launch of the new Accelerator 2.0: Same Proven Curriculum, New Specialty Endorsements, Easier-to-Use Platform. Learn more about the Accelerator 2.0: https://www.adventuresincre.com/introducing-new-learning-platform-accelerator/ Register for the Accelerator: https://www.adventuresincre.com/accelerator/
In this fourth special episode of the A.CRE Audio Series, Sam, Spencer, and Michael discuss how to create a real estate portfolio with special guest, Brandon Taubman. Brandon is a data scientist and financial engineer with 15 years of experience within investment banking, sports analytics, and real estate.
With Brandon's experience in a variety of fields, we ask for his advice in creating a portfolio through an analogy of baseball. Watch, listen, or read below to learn how to evaluate real estate, risk, volatility, and other metrics to curate a perfect commercial real estate portfolio.
In this third special episode of the A.CRE Audio Series, Sam and Spencer discuss self-storage data-driven strategies with special guess Drew Dolan. Drew is a Principal & Fund Manager at DXD Capital, a data-driven self-storage development company. Here at A.CRE, we've tried to create a wide array of cre content and one of the more recent areas we've dived into was self-storage, specifically with our self-storage development model. In this episode, we talk to Drew on exactly that niche. Concerning self-storage, data is going to be one of the biggest driving factors in creating a successful, well-rounded strategy for selecting, planning, and developing a self-storage facility. Some example data points would be residential areas nearby, prices, population, incomes, and more. DXD Capital specifically has worked to develop a really robust system for developing self-storage properties through data.
In this special episode of the A.CRE Audio Series, we feature Scott Choppin, the CEO and founder of The Urban Pacific group of companies, a real estate development company based in Southern California. In this conversation, Spencer, Michael, and Sam consult Scott for his insights into the development side, as well as other things happening from an actual deal-doer and maker in the business.
As we've tried to emphasize in this season, both strategy and action are required for a successful deal. You could have a great strategy and terrible execution. You could be a great executor and be destroyed from terrible deal-making. Without a plan, the execution falls apart. Newer people to the development business, however, often have poor execution rather than poor deal-making or deal selection. An okay deal well executed will make you money, but a brilliant deal poorly executed will get you nothing. Watch below to hear advice from seasoned CRE professionals on commercial real estate strategy and execution.
Scott's LinkedIn: https://www.linkedin.com/in/scottchoppin/ Urban Pacific: https://www.urbanpacific.com/
In this first special episode of the 3rd season of the A.CRE Audio Series, we feature Mark Rios, a real estate entrepreneur with a background in media. In addition to being an A.CRE Accelerator Graduate, he is the principal and co-founder of Prosperity CRE. Growing up in Hollywood, Mark planned for a career in the entertainment industry and spent 30 years in various acting roles. Through the years he eventually fell into commercial real estate and co-founded Prosperity CRE, a private real estate investment firm. In this episode, we discuss the various aspects of running a CRE business and the steps Mark is taking to further his CRE and business abilities. We highly recommend you check him out in the links provided. To watch, listen, or read Spencer, Michael, and Mark's conversation on running a real estate business and being a CRE entrepreneur, see below. Mark Rios: https://www.linkedin.com/in/markrios-cre/ Prosperity CRE: https://prosperitycre.com/
Welcome to Season Three of the A.CRE Audio Series! In this season, I am joined by the creators of Adventures in CRE, Spencer Burton, and Michael Belasco. This season is the first chance Spencer, Michael and Sam had been able to get together in person since 2019, and so they decided to do something special. As opposed to past seasons, season 3 is focused entirely around a central theme:
Deal Making and Deal Doing.
This series is comprised of 8 episodes that deep-dive the various nuances of what it takes to both create deals at the highest levels, and to get them closed like a pro.
Here are some of the highlights:
- How to develop and create an investment strategy others can get behind
- How to source deals and fill your pipeline like a pro
- How to assemble your Capital Stack, both equity and debt
- How to perform Due Diligence like a pro
- Expert-level Asset Management and executing your plan
- Bringing the whole strategy to completion with proper Disposition
These episodes are full of nuance, context, and stories for listeners who want an authentic look at how deals come together in the real world.
Watch this episode to learn about everything you can expect in this season. So, on behalf of Spencer, Michael, and the entire A.CRE Team … enjoy season 3, and the best of luck to you and your Adventure in CRE.
Now that we've talked about the strategy behind deal-making in commercial real estate, it's time to get into the actual deals! This episode of season 3 of the A.CRE Audio Series talks about how to actually source deals and identify investment opportunities and the relationships needed to properly find these real estate investment opportunities.
You've watched episode 1 and have a strategy. Once you've got a strategy and you've got money (something we'll talk about later in the season), you're ready to start sourcing deals. But where do you go? Where do you start?
Watch this episode to hear Spencer and Michael's takes on answering these questions as well as the various ways to approach sourcing deals in various real estate markets.
Welcome to the last regular episode of season 3, Deal Making and Deal Doing, from the A.CRE Audio Series. With both Michael and Spencer, today we talk about disposition. We're talking about bringing the whole thing full circle: realizing your profits and realizing your strategy. It seems like a very simple thing. If we've done everything up to this point correctly, as we've discussed and really executed on the plan, you would think that you're done, but there's a little bit more to it than that.
When we say disposition, we're really talking about a sale or an exit, two synonymous terms in the industry. You could say that you exit when you buy, and therefore if you're not thinking about the exit and have a clear plan in place for that exit at the onset, you're going to struggle to find success.
Listen on how to maximize your deal outcomes by working until the very end.
Thank you for tuning in with us this special season, and we hope you'll stick with us in the future.
Now that we've discussed the strategy and capital behind deal-making, and the due diligence required in conducting deals, let's talk about how to manage your assets. Ultimately, this is the step where quite frankly, the value comes to reality. Both Michael and Spencer have been on the development side of the real estate business and this episode features their advice when it comes to assets in real estate. What's interesting is that real estate is a relationship business, it's a people business, and this gets to the deepest parts of achieving anything. The right team, the right skill sets, you bring it together and magic can happen. When it comes to asset management, there was a decision at the higher level to select the personnel. So it was a personnel selection.
Now that we've really dug into the details about deal-making in commercial real estate, it's time to get into the weeds concerning deal-doing. This episode talks about how to go about due diligence in CRE at a pro-level. Hear Michael's perspective on the three main things for keys to success in real estate due diligence. We'll talk about the big buckets of due diligence.
As a side note, we'd love to hear from you guys! If anybody had questions or comments, feel free to follow up if you want to get more into geeky details. We couldn't do any of this without you, so we'd love to get in contact.
As far as deal-making, and deal doing are concerned. the last three episodes or so have been really focused on the making side. But making deals is great, but if you can't get them closed, they're not worth anything. In this episode, we're beginning to bridge over to the doing side.
Episode 5 is the second part of putting together your capital stack for deal-making and deal-doing in commercial real estate. Where the last episode talked about equity, this episode specifically talks about debt. Hear about the three things we think about concerning debt in your capital stack.
In this second episode of this special season of the A.CRE Audio Series, we're talking about how to create a strategy for deal-making and deal doing, the theme of season 3. Strategy is an important part of deal-making: before you can go out and identify deals, you need to have a strategy, a reason to pursue those deals. The strategy really is the foundation of all real estate. As part of this episode, Spencer Burton, co-creator of A.CRE and our resident strategy expert is going to share two experiences from his career and the strategies and firms he worked with.
This episode is the first this season where we really get into the meat of the content for season three. It's been a ton of fun. We're glad we can share our experience with you, our viewers. We hope that week can provide value to you, where you may be in your commercial real estate career.
Feel free to watch, listen, or read the episode below.
As briefly mentioned in the last episode, before you can start sourcing deals and finding investment opportunities, you need a strategy and you need money. Episode 1 talked about how to develop a strategy. Episodes 4 and 5 talk about how to put together the capital required for closing a deal in real estate. Specifically, this episode addresses equity when putting together your capital stack. Just as in the last episode, the key to capital is networking.
You can raise capital. You can find a broker. You can go find somebody to help you do that. But having relationships already made legitimately is critical.
Below, watch, listen, or read the various approaches to raising capital and the relationships needed to do so.
One of our biggest goals here at A.CRE is building a community and engaging with our readers. Recently, you've likely seen our posts on the A.CRE Networking Reboot Cruise. This cruise we're putting together is another effort to bring that community together, give value back to our readers, and allow us to interact in person in a more substantive way. This cruise will take place in April 2022 and is to help all CRE students and professionals get back into networking in the post-covid world.
Concerning the content of the cruise, we'll be putting together self-improvement exercises, educational conferences, and general cruise activities. We're also going to talk a lot about how to elevate your personal brand. So if you're in a management role at this point, how do you pitch new strategies, or how do you pitch investments? If you're early in your career, how do you develop your own personal brand? Or if you're mid-career and you're looking to make a career change, how do you brand yourself in a way that positions you for success going forward? We'll bring on some professionals that will help us workshop these ideas.
This episode of the A.CRE Audio Series features Justin Smith, Senior Vice President at Lee & Associates and the author of Industrial Intelligence: The Executive's Guide for Making Informed Commercial Real Estate Decisions. In this episode, he sits down with Michael, Spencer, and Sam to talk about how to maximize value for tenants.
A big thanks to Justin for making himself and his story available to our viewers!
This episode of the A.CRE Audio Series features Caleb Staub, a Real Estate Investor and Construction Project Manager. In this episode, we ask Caleb's advice on how to transition into the commercial real estate field. A big thanks to Caleb for offering his knowledge to our viewers!
In this episode, watch as Spencer, San, and Michael discuss how to maximize your ROI on In-Person CRE Events.
In this episode of Accelerators in Action, we're so happy to feature Samuel Obasi, the current A.CRE Fellow. In this episode we talk about the opportunities that come with a Fellowship as well as internships and so-on.
This is our 9th episode in a growing sub-series of interviews with commercial real estate professionals. This Accelerators in Action sub-series tells the stories of CRE professionals at all stages of their career, from students to senior-level professionals. Their experiences will provide you with insights into how to take your real estate career to the next level.
In this episode of the A.CRE Audio Series, we're pleased to be joined by Johannes Peter, the Founder & CEO of TomoDomo Co-Living in Switzerland. TomoDomo provides Co-Living residences in Switzerland. Through Co-Living, TomoDomo's goal is for their residents to consciously share their living space in order to build relationships, think further, aim higher and live better. This episode discusses how to accomplish this amidst a global pandemic.
We're very grateful for Johannes's willingness to share his knowledge with the A.CRE audience!
TomoDomo Website: https://en.tomodomo.ch/
TomoDomo LinkedIn: https://www.linkedin.com/company/tomodomoliving/
In this episode of the A.CRE Audio Series, we're pleased to be joined by Garland Fuller, a Diversity Recruiting Leader and Inclusion & Equity Strategist at CBRE. For this episode, we consult Garland on the best way to build a diverse team in the CRE profession.
We're very grateful for Garland's willingness to share their knowledge with the A.CRE audience!
With the events of 2020, networking in CRE has changed. In-place interactions have taken a necessary backseat to virtual connections. We all must adapt in order to advance our careers.
In this episode of the A.CRE Audio Series, we’re pleased to be joined by Allison Weiss, Principal and Founder of CRE Recruiting. Allison offers excellent insights into how to network in 2021 and beyond.
We’re very grateful for Allison’s willingness to share her knowledge with the A.CRE audience!
Many of our content here at Adventures in CRE recently has been about career help and advice. This isn't accidental. With the current pandemic, we're doing our best to help our readers get through the recession. This episode features Jenn Cook, a Corporate Recruiter and Learning & Development Manager at Crow Holdings, and talks about various career advice, such as how to polish your elevator pitch, how to guide conversations with CRE employers, what questions to ask them, and more.
We're very grateful for Jenn's willingness to speak with us this week about different pieces of advice for CRE professionals.
One important aspect present in real estate more than any other industry is the need to shoot above your station. Alex Williams, a Financial Analyst at CBRE Capital Markets and our guest today exemplifies this. As just an intern in college, he cold-called and asked to speak with the CEO to close a deal. In this episode, watch as Sam asks Alex about his experience shooting for the stars as an inexperienced young professional.
A huge thank you to Alex for talking to us about his career thus far. His experience is extremely valuable for other young professionals to learn how to further their skills and career.
Commercial real estate isn't the fastest to adopt the newest tech compared to other fields. Doing so, however, could increase returns, lower operating expenses, and reduce workload. In this Accelerators in Action episode, listen as Sam Carlson speaks on this topic with RE professional working to integrate tech with real estate, Justin Lia.
Justin Lia currently helps people buy, sell, and run real estate. He works as both a consultant and a broker. He has a degree and license in engineering and previously worked in constructing modeling and constructing large structures such as retaining walls and other geotechnical models. He works with giant REITS, the biggest PE companies in the world, and more to bring a detailed perspective on how to add value to deals.
We get a lot of questions here at Adventures in CRE about how to "get the first job." Many young professionals breaking into the market struggle to do just that. Jobs available often require experience and or connections - things that new professionals often lack.
This episode features Julio Villalobos-Torres, an underwriting analyst at Freddy Mac's and Accelerator graduate. As a recent university graduate, Julio's after-school job plans fell through after the events of 2020. In this episode, we speak on how to get that first job - without having any experience or real estate connections.
Being young and just out of college is a shared experience of many of our listeners. Breaking into the industry and continually evolving your career as a young professional is an important thing to know. This episode talks about exactly that.
In this episode of the A.CRE Audio Series, Sam welcomes real estate associate and Accelerator graduate Greg Astor. Greg originally majored in Philosophy at Pitzer college but shortly transitioned to real estate as an associate with a tenant rep firm in Santa Monica.
Adventures in CRE has always had to goal to provide value to CRE professionals. Mike Strug, our guest speaker today, has a similar goal. This week we met together to talk about different pieces of advice for young CRE professionals. This episode talks about how to make connections as a just out-of-school CRE professional, how to network in a virtual environment, and the number one piece of advice for these young professionals.
Over the past few weeks, the Adventures in CRE staff have been updating and populating A.CRE with real estate education content, including profiles of some of the top undergraduate and graduate real estate programs in the United States. Though pursuing graduate education in real estate is a great option to further one's career, it's not completely plausible for every individual. Because of that, we put together an A.CRE Audio Series episode about alternatives to graduate education in real estate.
In this episode of the A.CRE Audio Series, we're joined by Richard Byrd, a developer in commercial real estate and co-founder of the CRE analyst real estate training program. A huge thank you to Richard Byrd for sharing his knowledge in this episode with the A.CRE audience!
For commercial real estate professionals in 2020, one social media platform is more important than all of the rest. That platform is LinkedIn, and it now serves as a long-form real estate resume, a virtual business card, and for many their online professional persona. So given its importance, we thought we'd spend a few minutes discussing LinkedIn and three keys to LinkedIn success in CRE.
In this episode of the A.CRE Audio Series, we're joined by Tucker Wells, our Head of Training and Careers here at A.CRE. Tucker's background is in real estate executive recruiting, and over the years Tucker has helped hundreds of real estate professionals enhance their personal brand and advanced in their CRE career. In addition to leading Enterprise training and career services for A.CRE, Tucker provides one-on-one career consulting, resume review, and LinkedIn profile review as part of the A.CRE Career Accelerator, an add-on to the A.CRE Accelerator.
A huge thank you to Tucker Wells for sharing his knowledge in this episode with the A.CRE audience!
We regularly respond to questions from A.CRE and Accelerator members as it relates to analyzing and evaluating real estate investment opportunities. Recently, in an Accelerator forum post a young professional marveled at how certain individuals in his office could look at a deal and within a matter of minutes make an assessment as to whether the deal was worth spending more time on. He asked if we had any insights into how that was possible.
In this episode of the A.CRE Audio Series, Spencer, Michael and Sam discuss back-of-the-envelope analysis. They discuss specific techniques for quickly getting to a decision as to whether dig deeper, or move on from a deal. And they share insights from their personal experience, having collectively underwritten over $30 billion of real estate in their careers.
The real estate job market has changed dramatically over the past 3-4 months, with the market shifting from one that favored job seekers to one that now favors employers. In light of that shift, we're excited to welcome onto the A.CRE Audio Series one of the foremost experts in real estate careers: Kent Elliott of RETS Associates.
Kent founded the real estate executive search firm, RETS Associates, in 2002. Since that time his firm has placed more than 3,000 real estate candidates spanning 22 U.S. states and across every major real estate discipline and property type. In this episode of the A.CRE Audio Series, we discuss with Kent the current job landscape. We then ask Kent for pointers on how candidates can stand out in the interview (and beyond).
This episode is a good complement to our other discussions on the A.CRE Audio Series with top real estate recruiters. Check out our season two episode with Jeff Wittenberg and our season one episode with Alex Barake.
In this episode of the Adventures in CRE Audio Series, we dive into the Masters in Real Estate decision. Specifically, we discuss for whom the Masters in Real Estate is ideal and share our thoughts on the benefits of this specialized degree.
This discussion is a good complement to our two-episode discussion with Jim Spaeth in season one on the MBA in Real Estate.
Just like any skill in life, there are tips and tricks to learning that skill. Some suggestions are more helpful than others, although all contribute in some way. In this episode, we share one of the more valuable tips - what our marketing team has dubbed the "secret" - for learning real estate financial modeling.
And what is that secret... wait for it... practice! Big "secret", I know. But we can't reinforce this point enough. True proficiency in real estate financial modeling doesn't come from memorizing formulas or using other people's models. Mastery comes from learning the right techniques, in the right order, and then practicing those techniques over and over again.
But not all practice is equally as effective. So in this episode, we discuss a few strategies for practicing real estate financial modeling. We then share news about our new Real Estate Case Studies section of A.CRE that we're launching this month, to help you get the right practice for your area of interest.
At some point in their career, most real estate professionals choose to pivot. No matter whether that means making wholesale career change (e.g. transitioning into real estate from another industry), or simply moving from one property type to another, these career pivots can be difficult to navigate.
In this episode of the A.CRE Audio Series, Sam welcomes real estate developer and Accelerator graduate Nick Bouquet. Nick is a 15 year venture of real estate investment and development, including 12 years developing over $250 million of affordable housing projects. Nick is familiar with career pivots, having navigated one himself. And so in this episode, he shares his insights on how to successfully transition to new opportunities.
Currently, Nick executes on redevelopment opportunities in the United States. His responsibilities span the development life cycle. From identifying, analyzing, and performing due diligence on potential investments, to securing entitlements and overseeing the entire construction process. A huge thank you to Nick for sharing his career story.
Commercial real estate professionals come from all backgrounds and all walks of life. Some start with the family business as a kid. Others study real estate in college and begin their career in the industry. But a large share of commercial real estate professionals start their careers in other fields, only to transition into real estate at some point in their career.
In this week's episode of the A.CRE Audio Series, Sam welcomes Accelerator graduate and Masters in Real Estate candidate Joshua Lau. Josh is a career changer, having started his career in civil engineering only to discover a passion for the business side of real estate several years in. Josh also brings an international perspective, having studied and worked in Canada, Singapore, and the United States.
Josh is currently finishing his first year of a two-year Masters Degree in Real Estate from the Baker Program in Real Estate at Cornell University. He holds a Bachelor of Applied Science with Honours, Civil Engineering from the University of Toronto. Between and undergrad and grad, school he worked in Civil Engineering, estimating, and project management at firms in Singapore and Toronto.
Many A.CRE readers are young professionals and college students trying to navigate the job market in a recession. Finding a job in commercial real estate amidst the craziness of the COVID-19 pandemic can be challenging, especially for those with little to no experience in the industry. In this episode, we speak with Matthew Farrell, someone with direct experience finding his first job in CRE in the middle of a deep recession.
A lot of incredible real estate professionals have gone through the A.CRE Accelerator and we think sharing their stories will add value to your career. In this episode of the A.CRE Accelerators in Action series, Sam talks with Craig Cadwallader about what he has learned throughout his extensive career in real estate.
In this episode, Craig shares his career path from an undergraduate degree in Communications, Marketing, and Business Management, to asset and portfolio management positions at an established student housing operator, to Vice President of Capital Markets at Avison Young.
Craig offers valuable insights on the importance of proactive communication between buyers and sellers, especially in troubled and uncertain times. His story is one that will resonate with commercial real estate brokers, student housing professionals, asset management and portfolio management professionals, and other commercial real estate professionals looking to enhance their career.
Commercial real estate is the business of building, leasing, managing and selling space. And the demand for and how that space is used is largely a function of human psychology and behavior. With the human-psyche turned on its head due to COVID-19, how we use and interact with space is going to change forever. And that change will greatly impact the economics of commercial real estate, including apartment investments.
In this special episode of the A.CRE Audio Series, Spencer and Michael welcome special guest, Lane Beene, to discuss the impact COVID-19 is having on multifamily investments. Specifically, they discuss which operational and economic metrics matter most for apartments in a post-COVID-19 world, and how multifamily operators are adapting in order to not just survive, but thrive.
A lot of incredible real estate professionals have gone through the A.CRE Accelerator and we think sharing their career stories will add value to your career. In this episode of the A.CRE Accelerators in Action, Sam talks with Terry Kipp, a Senior Investments Associate at a family-owned real estate investment company.
Terry's career story is one of deliberate networking and the opportunity to have worked on a diverse range of commercial real estate deals. With experience across the property type spectrum, and at both large institutions in NYC and mid-sized family offices in the South, Terry's perspective is valuable to CRE professionals at all stages in their career.
In this special episode, Michael, Spencer, and Sam discuss there experience going through the Great Recession of 2008. As part of that discussion, they share insights and lessons learned from that time. They then offer advice, especially to those who are dealing with difficult financial or career circumstances and asking the question, what do I do now?
Listen as the guys share personal aspects of their story, in hopes of providing a helpful perspective in this time of increased uncertainty and distress.
In this special episode, Michael and Spencer discuss the changing work environmental in commercial real estate. More specifically, with the entire CRE workforce currently performing their duties remotely on account of the COVID-19 pandemic, a paradigm shift in how work is done in CRE is underway.
Listen as Michael and Spencer imagine a world where more CRE professionals work remotely, where office space is in less demand, and where contract work grows exponentially.
At the end of the episode, Michael and Spencer make a call to action to Accelerator Graduates. If you're interested in performing contract real estate financial modeling work, we'd love to connect you with individuals needing your help. Go to: https://www.adventuresincre.com/audioseries/#contractwork
Welcome to the A.CRE Audio Series! On this episode, I am here once again with the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco. Today we are joined by Jeff Wittenberg.
Spencer and Jeff have known each other for a while. Jeff has a good idea of what employers are looking for as well as insight for candidates to have maximum career success. Jeff is the managing director and practice leader for Kaye/Bassman. He leads strategy, team and operations of their construction and real estate practice. Over 20 years he has had responsibility for talent acquisition, training and development, marketing communications and overall governance.
During our time today we are talking about the general landscape for commercial real estate recruiting. We are also talking about the mid-career move. It all comes down to being proactive. Learn more during this episode.
Welcome to Season Two of the A.CRE Audio Series! On this episode, I am joined by the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco. Today we are talking about thoughts and feedback from season one and diving into what to expect in season two.
We are so thankful for all of our listeners and your support of season one. While season one had a lot of great content and insight, season two will be even more substantive than season one. In season two we are on location in Frisco, Texas.
We are now approaching 1,000 members. This is an exciting milestone for us and we are grateful for those that took a chance on the program. We have received positive as well as constructive feedback and we are taking that into consideration. Learn more about what to expect in season two during this episode.
Welcome to the A.CRE Audio Series! On this episode, I am here once again with the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco. When the A.CRE Real Estate Financial Modeling Accelerator started we had a hypothesis about how to help people learn financial modeling in the shortest amount of time possible. It has been a success and come a long way since then.
Today, our prestigious group of Accelerator graduates continues to grow. We count as graduates, individuals from top universities and companies who have successfully leveraged the Accelerator program to take the next step in their CRE careers. Other graduates are entrepreneurs, who use what they learned in the program to make more informed investment decisions and speak the language of their investors and/or lenders.
During our time today we talk about a variety of topics all centered around becoming a master in real estate financial modeling. We walk through the evolution of the Accelerator and how it will continue to evolve. We have some exciting changes coming that you won’t want to miss. Learn more in this episode.
Welcome to the A.CRE Audio Series! On this episode, I am here once again with the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco. Today we are talking about return metrics, pitfalls and potential.
During this episode, we also discuss common misconceptions and how to take these return metrics and look at them together. We start off by discussing various metrics that are commonly used in the industry today including cash-on-cash return, internal rate of return, equity multiple, etc.
We also talk about the importance of how you analyze metrics. Each metric alone will not give a clear picture. You must look at everything from a broad, holistic perspective. Learn about metrics and getting the most out of your return during this episode.
Welcome to the A.CRE Audio Series! On this episode, I am here once again with the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco. Today we have a great guest, Vicky Lee.
Today we are talking about Vicky’s career path and what she does on a day to day basis. Vicky is the vice president of development for Focus in Chicago. Vicky has over 10 years of real estate development and design experience. She is a great resource for many, especially those starting their career or looking for a transition.
Learn more during this episode from Vicky about topics such as transitioning from the design or architecture side to ownership. We also talk about bridging the gap, beneficial skills to develop and the seven phases of development.
Welcome to the A.CRE Audio Series! On this episode, I am here once again with the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco. Today we have a special guest Ben Stevens.
Today we are actually continuing a previous conversation. We are picking up where we left off from the last episode with Ben. Towards the end of Ben’s time working on his MBA, he began writing a book called The Birth of a Building. He continued that effort following graduation and eventually published the book. It is now used as part of the curriculum of several top business programs in the U.S. to help teach real estate development. In this episode, Ben shares a lot of great perspective and talks more in depth about his book.
Welcome to the A.CRE Audio Series! On this episode, I am here once again with the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco. Today we are joined by an awesome guest, Alex Zikakas.
Alex is the president and founder of capstone advisors, launched in 1996. Capstone is a diversified asset development and asset management company that has served as advisor and asset manager for some of the world’s largest financial institutions and hundreds of complex real estate investment and development projects.
During our time today we are diving into some great topics. You can expect to learn more about Alex, how he got started in this industry and his process in getting started as an entrepreneur. We also talk about making a deal, how to figure things out and the best ways to execute strategy.
Welcome to the A.CRE Audio Series! On this episode, I am here once again with the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco. Today is part two of our interview with Alex Zikakas.
During our conversation we dive into Alex’s brain and discover what he looks for when making a deal. It’s really important that you are the person people trust. We also dive into what’s going on today, where there are weeds and opportunities for relocation. As always there is the topic of risk in the commercial real estate market. We hear Alex’s thoughts on that as well. Alex provides great insight and advice from landing his first deal to where he is today.
Welcome to the A.CRE Audio Series! On this episode, I am here once again with the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco. We are also joined by our guest today Ron Rohde.
Ron Rohde is a seasoned commercial real estate attorney practicing in Florida and Texas. He has over 10 years of experience with commercial transactions, leasing and investment. Ron is currently focused on commercial real estate transactions. He graduated with his undergraduate degree from Cornell University. He is now an A.CRE Legal Contributor.
In this episode we are getting to know Ron a little bit better. Fun fact, Ron grew up speaking Mandarin. Besides speaking Mandarin, Ron has a lot of great skillsets. We dive into how he intentionally decided to use his background to do something purposeful. Ron shares great knowledge and insight based on his experience during our conversation today.
Welcome to the A.CRE Audio Series! On this episode, I am here once again with the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco. Today we are joined by Ben Stevens to talk about the birth of a LIHTC building.
Ben Stevens is a project manager for a real estate development firm in Chicago. He holds an MBA in Real Estate and Urban Land Economics from the University of Wisconsin at Madison. On the side, he hosts The Skyline Forum. He is also the author of the new book, The Birth of a Building. Ben lives in Chicago with his wife and two children.
Today we are starting a two-part episode with Ben. We are specifically talk about LIHTC-supported investments. We also jump into a variety of other topics based on Ben’s knowledge, including lessons he has learned and how allocation is set up.
Welcome to the A.CRE Audio Series! On this episode, I am here once again with the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco. Today we are talking about A.CRE's new Real Estate Legal selection with Ron Rohde.
We jump into the legal elements and how they coincide with the financial or deal level analysis. We also talk about the PSA and how it is an incredibly fluid document. Everything is negotiable. Sometimes in a tight market, that is important.
Additionally, we are excited to share that Ron will be contributing real estate legal insights, tips and advice. Ron will also be sharing free downloadable templates that give you a base to start as well as nuances you can take away.
Welcome back to the A.CRE Audio Series. In this episode, we chat once again with the creators Adventures in CRE, Spencer Burton and Michael Belasco, about the A.CRE Accelerator Program. The Accelerator is their premium training program designed to help people gain an in depth understanding and master institutional quality real estate financial modeling.
During our conversation, we’ll be diving deep into the Accelerator Program, what if offers, and why it was created. This is a great program for those looking to perfect and take their real estate financial modeling skills to the next level.
Michael and Spencer discuss what it was like early on going through the growing pains of learning this critical fundamental skill and how, for almost all of us in the industry, there was no direct guidance or program out there to help put them on a guided path to institutional quality proficiency. A lot of their learning was over years of study, experience, and trial and error. They discuss how through all that, they were able to develop this program, which provides a direct shortcut and gives members exactly what they need and in the right order so they don’t need to waste any time.
Join Spencer and Michael as they share their thoughts on the Accelerator program during this episode of the A.CRE Audio Series.
View the show notes from this episode
Learn to model real estate like a deal-seasoned pro
Welcome back to the A.CRE Audio Series! In this episode, Spencer Burton, Michael Belasco, and host, Sam Carlson are joined by Chris Collins, the Principal and Cofounder of Urban Pacific Development.
Click here to learn more about Chris Collins and Urban Pacific.
Over the course of Chris’ 25 year career in commercial real estate, he has contributed to the acquisition, design, development, leasing, asset management, and sale of over 150 projects. Today, Chris will be taking us through his story and discuss what it takes to embark on a successful career in commercial real estate outside of the traditional corporate or institutional path.
Join us as Chris shares his story, how he got started, the transitions he made, and the thought process behind his decisions along the way. There’s a great deal to be learned from Chris’ experience. Don’t miss this episode of the A.CRE Audio Series!
View the show notes from this episode
Learn to model real estate like a deal-seasoned pro
Welcome back to the A.CRE Audio Series! In this episode, Michael Belasco, Spencer Burton, and host, Sam Carlson, are joined by JP De Bruin, a Senior Investment Broker for a fast-growing brokerage in South Africa.
Click here to learn more about JP De Bruin.
This is an exciting episode, as we’ll learn more about JP and get a revealing glimpse into what it takes to be a successful international real estate investor and considerations for those that are interested in investing in cross border opportunities. This episode is filled with insight related to investing in different local markets and property types, finding the right local partners, and more.
Please join JP and the team as he provides a glimpse into the world of cross-border real estate investing.
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Learn to model real estate like a deal-seasoned pro
In this episode, host Sam Carlson, along with the creators of Adventures in CRE, Spencer Burton and Michael Belasco, speak with Lynn Gray, the Founder and CEO of Campus Scout, an innovative provider of strategic campus and recent graduate recruiting services and career coaching for young professionals.
Click here to learn more about Lynn Gray.
During this episode, we discuss Lynn’s storied history from Lehman Brothers to launching Campus Scout. We will also focus extensively with Lynn on strategies to break into commercial real estate as a new aspiring CRE professional, what employers look for in junior candidates, what to do if you don’t know what you want to do, how to get experience with no experience, and how to get on the right path.
If you are new to commercial real estate and looking for guidance on how to make a successful entry into the field, don’t miss this episode!
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Learn to model real estate like a deal-seasoned pro
In this episode, Michael Belasco, Spencer Burton, and host, Sam Carlson have a conversation with Alex Barake, a Senior Talent Acquisition Manager at a top tier international real estate firm. Alex provides our readers with insider insight into how one can best position themselves to land their ideal role within commercial real estate.
Click here to learn more about Alex.
In this episode, we hear from Alex on how to figure out if the path you are on is the right one for you; how best to position yourself to stand out with tips for applications, resumes, and cover letters; how to reach out and leverage relationships with people in the industry; and much more.
You can also expect to learn more about Alex himself and how he got to where he is today. If you’re looking for some direction on how to find the right fit within the commercial real estate space and land the job, this episode is for you!
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Learn to model real estate like a deal-seasoned pro
In this episode, Michael Belasco, Spencer Burton, and host, Sam Carlson continue their conversation with Jim Spaeth, the Executive Director of the Lenard W. Woods Center for Real Estate Studies at University of North Carolina.
Click here to learn more about Jim Spaeth.
In part one of our conversation with Jim, we dove into discussion about advancing your real estate career with an MBA from application to graduation. We covered topics such as who an MBA is right for, how to best present an application to top MBA programs, how to get the most out of your time in school, and what awaits you in the job market upon graduation. If you haven’t checked out that episode, we recommend listening to that episode first to get caught up.
In Part 2, we focus our conversation on what it really takes to get into top tier real estate programs as well as inside tips. You can expect to learn more about application requirements, information related to test scores, things universities are looking for and how to get the most out of your experience on this episode of the A.CRE Audio Series.
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Learn to model real estate like a deal-seasoned pro
In this episode, Michael Belasco, Spencer Burton, and host, Sam Carlson are joined by Jim Spaeth, the Executive Director of the Lenard W. Woods Center for Real Estate Studies at University of North Carolina. The four discuss an MBA in Real Estate, who its for, if its worth it, and how to get into a top MBA in Real Estate program.
Click here to learn more about Jim.
Throughout the episode, Jim provides the team with some expert insight into various relevant and pressing topics for many who are considering embarking on the path towards an MBA. Topics include who might benefit most from an MBA, strategies for how best to present an application to top MBA programs, how to manage the process, how to get the most out of your time in school, and what awaits you in the job market upon graduation.
Sam, Spencer, and Michael go right to the source to ask Jim the questions that many wish they could ask directly to the schools, but can’t during the process. If you are considering an MBA or getting ready to apply to an MBA program to advance your career in commercial real estate, you do not want to miss this episode.
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Learn to model real estate like a deal-seasoned pro
Welcome to Episode 3 of the A.CRE Audio Series! In this episode, we speak once again with the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco. Today we are going through the thought process and fundamentals of creating a real estate financial model.
There are endless ways to start creating your own real estate financial models. Every model is going to be a little different because no real estate development or acquisition is quite the same. This is even more true between people because our brains work differently and as a result the end product can vary substantially. During our conversation we learn more about how Spencer and Michael think about creating their workbooks and also discuss the essential components and the mechanics behind real estate financial models.
You can expect to conceptually understand the entire process by the end of this episode. We start from the very beginning discussing what happens at the onset with a blank excel workbook and navigate our way through the process of creating a model. We’ll stop along the way to discuss potential obstacles and knowing when you’re finished.
Learn more about the specific process of creating a successful model, how to go about doing so and the ins and outs of creating models during this episode of the A.CRE Audio Series.
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Learn to model real estate like a deal-seasoned pro
Welcome to Episode 2 of the A.CRE Audio Series. In this episode, we chat once again with the creators Adventures in CRE, Spencer Burton and Michael Belasco, on the topics of how to launch your career in commercial real estate as well as how one can pivot from a current role to another within the industry.
During this episode, we discuss how to demonstrate value through deal seasoning and your network and what steps you can take if you do not have either of these yet. One of the first things anyone should do at this juncture if you haven’t done so yet, is take the time to understand where you want to end up at the end of your process, in terms of job function, asset class(es), and geography; so that you are not wasting time preparing for a position that you end up realizing is not for you.
As you begin to discover and then embark on the path towards your professional transition, it can be tough. Reaching out to professionals in the industry to request informational interviews, taking on internships, externships, and even freelance opportunities are some of the best ways to start exploring your options and interests.
Learn more about the specifics of the industry, how to best set yourself up for success, what options exist and how to go about gaining the skills and knowledge needed to be successful during this episode of the A.CRE Audio Series.
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Learn to model real estate like a deal-seasoned pro
Welcome to the Adventures in CRE Audio Series! We begin the series talking with the creators of the Adventures in CRE website, Spencer Burton and Michael Belasco.
We discuss the site’s inception, evolution, and growing and evolving community. We also discuss the audio series and preview how it provides insights and answers to many of the questions Spencer and Michael field regularly from their readers on topics such as real estate financial modeling, careers, education, and the commercial real estate industry in general.
Michael and Spencer tell the story about their initial ambitions with the site, which was primarily meant to fill a lack of online resources related to real estate financial modeling. The goal was to also help the both of them expand their knowledge and skill sets in areas that were of critical importance to their careers and share that work and what they learned with others.
Over the years, the site has grown to cover other topics its readers have asked about. A.CRE focuses on sharing quality content around three main areas our readers care about most:
- Learning and using advanced concepts in real estate financial modeling.
- Gaining the education needed to be successful in commercial real estate.
- Preparing for and advancing a career in commercial real estate.
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Learn to model real estate like a deal-seasoned pro