Real Estate Asset Management Podcast: Recent Episodes
Gary Lipsky
Welcome to the Real Estate Asset Management Podcast. Your host, Gary Lipsky of Break of Day Capital, has more than 30 years of operations and management experience and almost 20 years of real estate investing experience. The show focuses on educating syndicators and apartment owners on how to build systems and manage their properties more efficiently to become a best-in-class operator. 100% straight talk.
What does the latest multifamily data reveal about where the next real estate opportunities lie? In this episode of the Real Estate Investor Podcast, host Gary Lipsky welcomes Jeff Adler, Lead Executive at Yardi Matrix, for a data-driven conversation on the forces shaping multifamily real estate. Jeff shares his perspective on today's market, breaking down the impact of new supply, shifting apartment demand, and why rent growth is entering a new phase. He also explores the broader economic backdrop, including what some are calling a "silent recession,” and discusses how institutional capital is positioning itself as investors wait for greater market clarity. The conversation concludes with Jeff's outlook on the markets best positioned for growth over the next three to five years and the biggest risk he believes multifamily investors should be monitoring over the next 24 months. Tune in for valuable market insights to help you navigate today's evolving investment landscape with greater confidence.
Key Points From This Episode:
- An introduction to today’s guest, Jeff Adler.
- More about Yardi Matrix.
- Jeff’s thoughts on where multifamily stands today.
- The trickle-down effect and how it’s affecting the demand for apartments.
- Jeff dives into some predictions regarding rent growth.
- Explaining the broader economic backdrop and the silent recession.
- His take on “the big capital” sitting on the sidelines, waiting for the bottom.
- Emerging markets: those best positioned for the next 3-5 years.
- The single biggest risk Jeff is keeping an eye on over the next 24 months.
- Where to learn more about Jeff and Yardi Matrix.
Links Mentioned in Today’s Episode:
Jeffrey W. Adler on LinkedIn
Jeffrey W. Adler Yardi Matrix
Yardi Matrix
Ray Dalio on LinkedIn
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
If you’re wondering how to defer taxes and diversify wealth on your stock in a meaningful way, this episode is for you. Brett Swarts builds capital gains tax exit plans. He is a real estate investment advisor, podcaster, best-selling author, and a California multi-family broker, and the founder of Capital Gains Tax Solutions and EXB Commercial Multi-Family Broker. Each year, he equips hundreds of millionaires and business professionals with the deferred sales trust tools to help solve capital gains tax deferral limitations. First, the conversation covers the basics of 1031 exchanges and Deferred Sales Trusts, including how they benefit SpaceX employees and support long-term wealth preservation. Next, it explores tax-saving strategies, the value of layering financial solutions, and how Brett uses DSTs to solve challenges like partnership dissolutions. Lastly, we unpack the power that passive income can unlock and what that might look like for you. Thanks for listening!
Key Points From This Episode:
- Background on Brett Swarts.
- How Brett’s business helps people create capital gains tax exit plans.
- The basics of a 1031 and Deferred Sales Trust.
- How this works for former or current SpaceX employees.
- Why this strategy is such a valuable option.
- Adopting a mindset of layering, sequencing, and compilation.
- Different strategies to offset income tax.
- Using a DST as a lifeline.
- How Brett provides smooth solutions to dissolving partnerships.
- The power of passive income.
Links Mentioned in Today’s Episode:
Brett Swarts
Brett Swarts on LinkedIn
Brett Swarts on Instagram
Capital Gains Tax Solutions
Building a Capital Gains Tax Exit Plan
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
Insurance can make or break a multifamily deal, especially when markets are volatile, lender requirements are tightening, and prior claims can affect pricing for years. In this episode of the Real Estate Investor Podcast, Gary Lipsky sits down with Ryan Thomas, a commercial insurance advisor specializing in multifamily real estate, to discuss what investors need to know before buying, refinancing, or renewing coverage. Ryan explains what has changed in the commercial insurance market, why the property market is softening, and why liability coverage is becoming harder to navigate. He breaks down how Fannie Mae and Freddie Mac requirements are affecting coverage for claims, why some investors may face large retainers, and how lender requirements can create challenges. Ryan shares why working with an experienced broker matters, how underwriter relationships can influence outcomes, and how a master policy can help investors manage coverage across a portfolio. Tune in to learn how to get ahead of insurance issues before they become problems with Ryan Thomas.
Key Points From This Episode:
- Background about Ryan and how he became a commercial insurance advisor.
- What has changed in the insurance market for acquisitions and refinances.
- Discover why Arizona remains a more favorable insurance market than other states.
- Understand how agency requirements are affecting coverage.
- Uncover what smaller investors need to consider before using agency debt.
- Explore how prior claims and five-year loss runs can impact insurance pricing.
- Hear why a strong insurance broker can make a major difference during acquisitions.
- Find out what investors should review before making an offer.
- Learn the difference between admitted and non-admitted insurance carriers.
- Unpack the role of broker commissions, fees, and underwriter relationships.
- How master policies work and why they can benefit multifamily portfolios.
- Advice on what investors should look for when choosing an insurance broker.
Links Mentioned in Today’s Episode:
Arcstone Insurance Advisors
Email Ryan Thomas
Call Ryan Thomas
Fannie Mae
Freddie Mac
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
The last multifamily cycle exposed some hard truths—and the investors who learn from them will be better positioned for whatever comes next. In this episode, Gary Lipsky breaks down the five biggest underwriting lessons from the recent downturn, explaining why refinancing is a risk, not a strategy, why rent growth can't rescue a weak business plan, and why break-even occupancy, conservative leverage, and healthy reserves matter more than ever. He also challenges the mindset behind "Survive until '25" and "Persist until '26," explores what truly separates great operators from the rest, and shares the critical questions every passive investor should be asking before investing in a deal. If the market is repricing risk, not just real estate, this conversation will help you adapt your investment strategy and position yourself to thrive when the next cycle begins.
Key Points From This Episode:
- Introduction to today’s topic of discussion.
- Why the sayings “Survive until ’25” or “Persist until ’26” won’t do you any good.
- The true test of an operator.
- Why not all deals were bad deals.
- Lesson one: refinancing is a risk, not a strategy.
- What happens if refinancing is not available?
- Lesson two: rent growth cannot beat the business plan.
- An uncomfortable truth from the last cycle.
- Important questions investors should consider.
- Lesson three: break-even occupancy matters more than projected returns.
- Critical questions for investors regarding break-even occupancy.
- Lesson four: maximum leverage doesn't always maximize returns.
- Lesson five: reserves are not dead money.
- What investors should be asking regarding reserves.
- The biggest lesson we learned from this cycle: the market isn't just repricing real estate, it’s repricing risk.
- The good news after the downturn.
- The biggest mistakes investors can make today.
- Where will you be positioned when the storm ends?
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
What if the story investors are reacting to isn’t the one the data is actually telling? This episode is a value-packed Town Hall with Dr. Peter Linneman, one of the most respected voices in finance, investing, and real estate. He shares incredible insights on a range of essential topics, including what investors are missing about the US economy, the political and economic factors shaping the market, and where he sees the best opportunities today. We also discuss the surprising strength of the latest jobs report, where interest rates may be headed, the state of commercial real estate, the outlook for multifamily housing, and the risks that could drive a future recession. Dr. Linneman also shares his biggest concerns, what could change his perspective this year, and his number one piece of advice for investors waiting for clarity. Don’t miss this deep dive.
Key Points From This Episode:
- Dr. Peter Linneman’s background as a leader in finance and investments.
- What investors miss about the US economy.
- Predicted drivers of a future recession.
- How the political landscape is impacting the economy.
- Why the most recent job report had surprisingly positive results.
- Where Dr. Linneman predicts interest rates will go in the year to come.
- The state of commercial real estate.
- Dr. Linneman’s concerns and what would change his perspective this year.
- The country’s education problem and why it is a threat to the economy.
- Why there is hope for multifamily going forward.
- Advice for investors who are stuck and waiting for clarity.
Links Mentioned in Today’s Episode:
Dr. Peter Linneman on LinkedInLinneman Associates
Real Estate Finance & Investments: Risks and Opportunities, Second Edition
REFAI Certification
The Great Age Reboot
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
How can passive investors distinguish trustworthy real estate operators from those who simply know how to market themselves? In this episode of the Real Estate Investor Podcast, host Gary Lipsky sits down with Pat Zingarella, CEO of Invest Clearly, a public directory and review platform for private real estate investments. In their conversation, Pat explains how his experience working for a fraudulent real estate investor showed him the need for greater transparency across the industry. He shares how Invest Clearly verifies that reviewers have invested with the sponsors they evaluate, why communication breakdowns remain the most common investor complaint, and how verified reviews can help responsible GPs stand apart. Gary and Pat also discuss the importance of evaluating the operator before the deal, reporting unsuccessful investments honestly, and the LPs’ responsibility to conduct proper due diligence. Tune in to explore the changing capital-raising environment, the growing cost of converting prospective investors, and why more leads cannot replace trust, with Pat Zingarella.
Key Points From This Episode:
- Background about Pat and why he founded Invest Clearly.
- Learn how verified reviews help strong operators stand out.
- Discover why communication matters more than a perfect record.
- Find out what makes Invest Clearly stand out from other companies.
- Hear how sponsors should address poor-performing deals.
- Uncover the sponsor red flags investors often overlook.
- Understand why LPs must take ownership of due diligence.
- Explore what Pat is planning next for Invest Clearly.
- Get insights into how transparency fosters trust with investors.
- Unpack why and how investor conversion has changed.
Links Mentioned in Today’s Episode:
Pat Zingarella on LinkedIn
Pat Zingarella Email
Invest Clearly
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
What does today’s economic uncertainty mean for real estate investors trying to make smart decisions? In this episode of the Real Estate Investor Podcast, host Gary Lipsky sits down with J Scott, entrepreneur, investor, advisor, author, and partner at Bar Down Investments, for a timely conversation recorded during the 2026 Virtual Invest Smart Summit. J shares his perspective on the Federal Reserve, inflation, interest rates, lending conditions, and the broader market signals investors should be watching. He explains why mortgage rates do not always move with the Fed rate, how inflation expectations influence borrowing costs, and why he believes investors should prepare for a weaker economy and tighter lending environment. They discuss opportunities across single-family, multifamily, and commercial real estate, as well as the importance of choosing lenders carefully in a changing market. They also explore AI’s potential impact on inflation, jobs, education, wages, and long-term real estate values. Tune in to learn why investors should return to fundamentals, build conservative pro formas, secure longer-term debt, and focus on buying right with J Scott.
Key Points From This Episode:
- Hear J’s view on Kevin Warsh, Federal Reserve policy, and possible changes to inflation.
- Explore how inflation projections drive mortgage and other market-based interest rates.
- Find out why J sees signs of economic softening, tighter lending, and a possible recession.
- Learn why J believes inflation could still support single-family and residential real estate.
- Understand why multifamily may be near the bottom after several difficult years.
- Why he expects mortgage rates to remain in the 6% to 7% range for the next few years.
- How higher interest rates can create buying opportunities but make selling more difficult.
- J shares what economic data points he watches most closely as a real estate investor.
- Advice on using online tools, government reports, and AI to understand market data.
- Unpack why J thinks AI will be inflationary in the short term and deflationary in the long term.
- Discover why the fundamentals, conservative underwriting, and longer-term debt are key.
Links Mentioned in Today’s Episode:
J Scott
J Scott on LinkedIn
J Scott on Linktree
Bar Down Investments
BiggerPockets Books
MarketWatch
Economic Calendar
Invest Smart Summit
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
This special episode of The Real Estate Investor Podcast was recorded for the 2026 Virtual Investment Summit. Host Gary Lipsky interviews returning guest, Kathy Fettke, to break down the 2026 economic outlook and what it means for real estate investors navigating today’s shifting market. Kathy shares why the single-family housing market remains more resilient than many expect, while multifamily assets are entering a major reset driven by rising delinquencies, distressed debt, and changing market fundamentals. Just as it seems that a sense of fear is rising in this sector, so too is there a tremendous amount of opportunity. Furthermore, they discuss why affordability is becoming the defining trend in U.S. housing, how migration toward Midwest and Sunbelt markets is creating new opportunities, and why disciplined underwriting and long-term cash flow strategies are more important than ever. They reflect on lessons from the 2009 financial crisis, break down a practical 1031 exchange strategy, and Kathy explains how investors can build wealth by providing attainable housing solutions during a time of nationwide housing shortages.
Key Points From This Episode:
- What listeners can expect from today’s episode.
- Kathy explains why the state of U.S housing is important.
- Buying in bubble markets.
- Why so many people love the steady states in the Midwest.
- The bubble market reset and why it’s an opportunity to make money.
- Will there be an inevitable crash ahead in the one-to-four-unit world?
- How debt and equity in 2026 differ from 2009 (in one-to-four-units).
- Kathy highlights a distinct difference in mortgages between 2009 and 2026.
- The real distress today: U.S. renters.
- How the Trump Administration is attacking Wall Street-owning homes.
- What we are seeing: people choosing affordability.
- How buy-and-hold investors can solve the affordability problem.
- Kathy shifts from the single-family to the multi-family economic outlook for 2026.
- Finding the best deals and investing where people are moving toward.
- They unpack a practical 1031 exchange strategy.
- What it was like investing in 2009.
- The importance of knowing how to underwrite.
Links Mentioned in Today’s Episode:
Kathy Fettke
Kathy Fettke on LinkedIn
Kathy Fettke on Instagram
Real Wealth Network
Kathy Fettke Real Wealth Podcast
Kathy Fettke Real Wealth Network on YouTube
Raising & Investing 2026 Virtual Investment Summit
Robert Kiyosaki: Financial Literacy, Investing & Big Money Ideas!
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
How can investors make smarter decisions in a market that looks very different from just a few years ago? In this solo episode of the Real Estate Investor Podcast, host Gary Lipsky shares key takeaways from the Invest Smart Summit and breaks down Break of Day Capital’s recent closing of Icon on Broadway. Gary begins by explaining why today’s market should be viewed as a reset rather than a collapse, why investors need to understand individual markets, and why staying on the sidelines too long can become its own risk. He breaks down important considerations around tax planning, investment strategy development, interest rates, inflation, and AI. Gary also walks listeners through the Icon on Broadway deal, how the team evaluated the asset, and what they aim to achieve with the new business plan. Tune in to hear how disciplined investing and market knowledge can help investors navigate uncertainty and identify opportunities that are built on fundamentals, not speculation.
Key Points From This Episode:
- Why the summit focused on investing, taxes, wellness, and market insights.
- Learn why today’s market is going through a reset rather than a collapse.
- Understand why real estate investors need to evaluate markets individually.
- Hear why it is critical to follow the fundamentals and not the headlines.
- Discover why your tax strategy should be planned before investing.
- Insights into how higher rates affected different real estate asset classes.
- Explore why a clear investing approach helps avoid reacting to every deal.
- Find out how the Federal Reserve influences rates and market expectations.
- Gary details the Icon on Broadway deal and why it was compelling.
- The power of scale and how Break of Day Capital mitigates risk.
Links Mentioned in Today’s Episode:
The Invest Smart Summit
Kathy Fettke
Dean Indot on LinkedIn
Bronson Hill on LinkedIn
Ryan Kennedy
Amanda Han
Matt MacFarland on LinkedIn
Matt King on LinkedIn
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
How do family offices think about real estate, relationships, and market timing when the rest of the market is still waiting for certainty? In this episode of the Real Estate Investor Podcast, host Gary Lipsky sits down with DJ Van Keuren to unpack how family offices really approach real estate investing. DJ is s a Harvard-trained strategist, the Co-Founder of Evergreen Property Partners, President of the Harvard Real Estate Alumni Association, and Founder of the Family Office Real Estate (FORE) Institute. He has held senior real estate positions at several prominent family offices where his work has focused on helping families invest in real estate. In this conversation, DJ explains what a family office actually is, how single-family and multifamily offices differ, and why real estate remains such a meaningful part of many family office portfolios. He discusses why family offices are paying attention to the current market reset, how they are preparing to deploy capital, and why multifamily remains one of their preferred asset classes. DJ also shares advice for operators who want to build relationships with family offices and uncovers why leading with a deal is usually the wrong approach. Tune in to learn why patience matters, why communication becomes even more important when things do not go perfectly, and how family offices think, invest, and build generational wealth through real estate with DJ Van Keuren.
Key Points From This Episode:
- DJ’s background in family office real estate and how he got into the space.
- He explains the definition of a family office and how many offices exist in the US.
- Learn why DJ uses USD 250 million as a key threshold for a single-family office.
- Why family offices typically allocate around 24.5% of their portfolios to real estate.
- Get an overview of the investment and tax benefits of family real estate.
- Hear why DJ thinks the next 18 months could create major opportunities for investors.
- Understand the difference between retail investors and experienced investors.
- The 18.6-year real estate cycle and why downturns can be strong buying periods.
- Find out how much work happens behind the scenes in real estate investing.
- Uncover where family offices are focusing their attention in the current market.
- Discover why and when operators should build relationships with family offices.
- Advice for attracting family office capital and quality investors.
Links Mentioned in Today’s Episode:
DJ Van Keuren
DJ Van Keuren Email
DJ Van Keuren on LinkedIn
Evergreen Property Partners
Family Office Real Estate (FORE) Institute
The Harvard Real Estate Alumni Organization (HREAO)
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the
Building a real estate deal today feels like solving an increasingly complex puzzle, as investors face a more selective market. They must now work harder than ever to assemble a capital stack that truly pencils. Returning to the show is Andrew Westling, Director of Capital Markets at Walker & Dunlop in Los Angeles, joining Gary to share deep insights into today’s financing landscape. Together, they break down the current lending environment, explore the differences between preferred and common equity, and examine where market sentiment is shifting. Andrew also highlights the most aggressive lenders across asset classes, explains how swaps work, and provides updates on HUD and CMBS lending. Tune in now to learn more about the complexities of completing a successful capital stack and how to get creative with raising capital.
Key Points From This Episode:
- Listeners are introduced to Andrew Westling.
- Andrew delves into his thoughts on the current lending environment.
- Preferred equity versus common equity, and what Andrew is seeing in the markets.
- He sheds light on the current most aggressive lenders in different asset classes.
- The range of rates that aggressive lenders are providing.
- He explains what a swap is.
- Andrew speaks to the latest from HUD and CMBS lenders, and what they are.
- They discuss the complexities of completing your cap stack.
- Getting creative with raising capital.
Links Mentioned in Today’s Episode:
Andrew Westling on LinkedIn
Andrew Westling Phone Number: +1 310 979 5756
Walker & Dunlop
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
Do you want to get rich beyond belief? Today on the Real Estate Investor Podcast, master coach and real estate investor, Trevor McGregor, joins us to talk about how you can achieve high-performance and true success! Tuning in, you’ll hear all about his investment background and career, what the investor wealth architect identity shift is, stepping into your sage mindset, and so much more. He delves into the five reasons why people fail to scale consistently before discussing how he maximizes his time. Trevor also touches on what he believes is the secret to living: sharing our success with beginners, and tells us how he went from losing everything to having a large, cash-flowing portfolio. Finally, our guest shares his favorite quote of all time and tells us where we can find his special free gift for listeners. If you want more success, wealth, and freedom, then this episode is for you, so be sure to press play now!
Key Points From This Episode:
- Introducing Trevor McGregor.
- A brief overview of our guest’s career and investment journey.
- The investor wealth architect identity shift.
- Moving away from a saboteur mindset to a sage one.
- The five reasons people fail to scale consistently.
- Trevor tells us how he maximizes his time using AI.
- How he went from losing everything to where he is now.
- Trevor shares his favorite quotes with listeners.
Links Mentioned in Today’s Episode:
Trevor McGregor
Rich Beyond Belief
Trevor McGregor on LinkedIn
Who Not How
Think and Grow Rich
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
When we hit rock bottom, the only place to go is up! Today on the Real Estate Investor Podcast, we welcome real estate entrepreneur, author, host of the top-rated podcast, Investing in the U.S., and founder of Accounting First Group, Reed Goossens, to discuss his stance in the erratic real estate investing world at the moment and to learn about his CPA firm rollup! Tuning in, you’ll hear all about Reed’s impressive career, his move from Australia to America, and how he’s adapted to survive in these difficult times in this industry. He goes on to talk about his opinion of the current state of investing and when and how he feels it will improve. We even chat about his new CPA firm rollup, Accounting First Group, what inspired him to start it, and his goals for the company. This is a thought-provoking and inspiring conversation that you don’t want to miss, so be sure to press play now!
Key Points From This Episode:
- Welcoming Reed Goossens to the show.
- His thoughts on the real estate industry at the moment.
- Changes he’s made to push through this tough investing cycle.
- Where Reed will be investing in the near future and why.
- Reed tells us about his CPA firm rollup and his goals for it.
Links Mentioned in Today’s Episode:
Reed Goossens
Reed Goossens on LinkedIn
Reed Goossens Email Address
Reed Goossens on Instagram
Reed Goossens on Facebook
Investing in the U.S.
Accounting First Group
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
What does it look like to switch from closing deals to building communities with real long-term impact? In this episode of the Real Estate Investor Podcast, host Gary Lipsky sits down with Ian Tudor, partner at JIK Holdings, to discuss Ian’s career path from corporate finance to mobile home parks and into land development. Ian shares how institutional underwriting influenced his investing mindset, how he and his partners built a portfolio by buying smaller mobile home parks, and what he learned from living on-site to stabilize a large property. He breaks down land development for investors who are new to the space, the entitlement timeline, the upfront costs, and why development can sometimes feel slow and risky. Ian also shares details about his current work in Los Angeles County and his goal to create more attainable homeownership opportunities. To hear how Ian evaluates risk across strategies, what it takes to move from value-add to development, and why he believes this is a golden age for small developers, tune in now!
Key Points From This Episode:
- Ian’s background and why he shifted from mobile home parks to land development.
- Hear how Ian’s start in corporate finance prepared him for real estate investing.
- Discover what got him interested in mobile home parks and why he went all-in.
- Learn how Ian and his partners built a mobile home park portfolio from scratch.
- What Ian learned from living on-site while helping turn around a large mobile home park.
- Unpack what changed in mobile home parks and why he decided to exit.
- Explore what land development involves and why the timeline is much longer.
- He shares how many deals he works on at once and why the pace can feel slow.
- Details about a big project Ian is currently working on and what it is trying to solve.
- Find out what the four-unit plan looks like in size, layout, and lot design.
- Insights into the progress of the project and the kinds of challenges he faces.
Links Mentioned in Today’s Episode:
Ian Tudor on LinkedIn
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
In this episode of the Real Estate Investor Podcast, Gary Lipsky welcomes back Joseph Fang of Break of Day Capital to unpack the current real estate market signals and how those signals are shaping new opportunities on the acquisition side. Joseph shares why basis and buying below replacement cost matter in today’s environment, what a value-add plan looks like when it’s focused on deferred maintenance, and how targeted fixes can improve resident experience, reduce turnover, and increase rent growth. They also discuss rate expectations, liquidity, lender behavior, and what Joseph and Gary are hearing across the market about timing, cap rates, expenses, and why strong asset management execution is becoming essential again. Tune in to learn what it takes to buy and operate confidently in an uncertain cycle with Gary Lipsky and Joseph Fang!
Key Points From This Episode:
- Welcome back to Joseph Fang, Director of Investor Relations at Break of Day Capital.
- Hear about an exciting new deal that Break of Day Capital has closed on.
- Find out how deferred maintenance reduces retention and the associated costs.
- Why deferred maintenance is essential and increases the value of a property.
- Discover what investors should do after a typical investment cycle.
- Why Joseph likes investing when multifamily sentiment is driven by fear and uncertainty.
- Unpack Trump’s Fed pick and how policy direction could impact real estate investing.
- Overview of the current financing landscape and how it is expected to change.
- Gary shares highlights from the recent NMHC Annual Conference in Vegas.
- Explore how lender behavior has shifted and why buying now could pay off in the long term.
- Joseph shares his opinion about the future of real estate and why he has a positive outlook.
Links Mentioned in Today’s Episode:
Joseph Fang on LinkedIn
National Multifamily Housing Council (NMHC)
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
What does it take to protect your deals when the market turns? In this episode, we sit down with Omar Khan, founder of Boardwalk Wealth, to discuss the challenges currently facing the real estate industry. Omar explains the overall state of the market, the impact distressed assets have caused, and why transparent communication with investors during these times is vital. He unpacks the potential opportunities in acquiring distressed assets in the coming years, the value of consistent performance, and why creative problem-solving is essential during market turns. Omar breaks down how to navigate loan terms, the value of agency loans in the current market, the effect of rising interest rates on the market, and how to show investors they can trust you. We also delve into the challenges of raising capital, the impact of geopolitical factors on occupancy and collections, and the importance of effective asset management. Tune in to learn how disciplined operations, lender-savvy strategy, and clear investor communication can help you navigate downturns and position yourself for opportunities, with Omar Khan!
Key Points From This Episode:
- Introduction to Omar and his company, Boardwalk Wealth.
- Hear why Omar regards the last few years as a broad “basis reset.”
- Learn how Omar approaches agency loans and why agency requirements matter.
- Discover why clear communication with investors is vital during a market turn.
- Find out why extending hold periods is sometimes the best outcome.
- Unpack his approach for finding distressed deals and opportunities.
- Why doing what you promise builds trust with brokers and lenders.
- Uncover how Boardwalk Wealth has navigated the market upheaval.
- His outlook for the market and why he thinks it will stabilize rather than improve.
- Explore why raising capital for multifamily investments has become challenging.
- Final takeaways and how to contact Omar.
Links Mentioned in Today’s Episode:
Omar Khan on LinkedIn
Boardwalk Wealth
Episode 83: Sell or Refi
Family Office Club
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
Today on the podcast, host Gary Lipsky welcomes Kevin Kim. Kevin leads Fortra Law’s corporate and securities practice, where he and his team have advised on and prepared hundreds of securities offerings, including mortgage funds, structured debt offerings, real estate syndications, crowdfunding offerings, EB-5 projects, and qualified opportunity funds.
In this episode, Gary and Kevin explore how Kevin has helped clients navigate recent challenges in the multifamily space from a legal perspective, including a deep dive into one of the more complex deals Kevin has closed. Kevin also breaks down Employment-Based 5 (EB-5) visas and their best use cases in real estate, explains what an UPREIT is and the structuring involved, and outlines how non-UPREIT structures differ. They wrap up the conversation discussing Kevin’s thoughts on the evolution of the legal side of the real estate business and how listeners can learn more about Kevin and Fortra Law. Thanks for listening in.
Key Points From This Episode:
- Listeners are introduced to our guest, Kevin Kim.
- How they’ve helped clients navigate the multifamily struggle, from a legal perspective.
- Kevin talks through one of the more intricate deals he’s had to close recently.
- He unpacks Employment-Based-5 (EB-5) visas and their best use case in real estate.
- Kevin breaks down what UPREIT is and the structuring involved.
- He explains what a non-UPREIT situation would look like.
- How Kevin sees the legal side of the business will evolve: navigating nuances.
- Where you can learn more about Kevin and his company, Fortra Law.
Links Mentioned in Today’s Episode:
Kevin Kim on LinkedIn
Kevin Kim on Email
Kevin Kim, Esq
Fortra Law
Fortra Law on YouTube
One, Big, Beautiful Bill provisions
Regulation D
Regulation A
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
Returning to the podcast after four and a half years is Dallon Shultz. Now a seasoned fund manager, Dallon is also the co-founder of Capitallyst Pro, an automated CRM platform designed to help real estate investors raise capital more efficiently and effectively. In this episode, Dallon shares what inspired the creation of Capitallyst Pro, the company’s vision and mission, and his insights on the three most common mistakes capital raisers make. The conversation also explores how capital raising is likely to evolve in the coming years, why the power of association may be the biggest check writer of all, and the exciting updates ahead for Capitallyst Pro. Tune in now to hear it all.
Key Points From This Episode:
- Introduction to today’s guest and topic.
- What inspired him to start Capitallyst Pro and their vision and mission.
- The three most common mistakes Dallon sees capital raisers make.
- His thoughts on how capital raising might evolve over the next few years.
- The power of association: the biggest check writer.
- What most influenced Dallon on capital raising.
- Dallon shares some exciting changes they’re implementing.
- Where to learn more about Dallon Shultz and Capitallyst Pro.
Links Mentioned in Today’s Episode:
Dallon Shultz on LinkedIn
Capitallyst Pro
Capitallyst Pro on YouTube
Episode #68: Jumping in with a Development Deal with Dallon Schultz
Best Ever Apartment Syndication Book
Best Real Estate Investing Advice Ever, Volume 1
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
With AI transforming nearly every industry, today’s guest is helping property investors supercharge their front-end sales funnels through intelligent chatbot systems. Kevin Brenner, Founder of PropertyBots™, is a true trailblazer at the intersection of real estate and artificial intelligence, bringing cutting-edge tech solutions to the investment world. In this episode, Gary and Kevin explore the future of AI in business, how Kevin’s military experience shaped his path to entrepreneurship, and the journey that led him to master the world of AI. Kevin also breaks down the five essential elements of effective chatbot prompts, explains how AI can support raising capital, and shares how PropertyBots™ is leveraging these tools to drive meaningful results. To discover how AI is reshaping real estate, the potential it unlocks, and how you can prepare for an AI-driven future, tune in now!
Key Points From This Episode:
- Who is Kevin Brenner: our guest’s introduction and background.
- Kevin’s thoughts on AI and the future of the business world.
- How he translated his military experience into a foundation for business success.
- Kevin shares how he ventured into the world of AI, and ultimately mastered it
- He sheds light on the easiest way to get started in AI.
- The 5 elements of an AI prompt.
- Raising capital with the help of AI.
- Kevin explains how they utilize AI at PropertyBots™ and the potential applications of AI.
- How to prepare for the AI-driven workforce of tomorrow.
- Find out more about PropertyBots™.
Links Mentioned in Today’s Episode:
Kevin Brenner on LinkedIn
Property Bots™
Active Duty Passive Income
Rich Dad Poor Dad
BiggerPockets
Date With Destiny Event
Tony Robbins
ChatGPT
Claude
Gemini
Geoff Woods on LinkedIn
AI-Driven Leader
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
Welcome to the 250th episode of the Real Estate Investor Podcast! Today, Gary is joined by Joe Fang and Andy Huang to discuss the lessons we’ve learned throughout this experience. Tuning in, you’ll hear all about the history of the show, our favorite episodes, what we’ve experienced this year, and so much more! We delve into our outlook for 2026 before touching on what we expect the market will do. Finally, we talk about what it looks like to walk away from a deal. Thanks for listening, and be sure to stay tuned for more from the Real Estate Investor Podcast!
Key Points From This Episode:
- Welcoming Joe Fang and Andy Huang to the show.
- A brief overview of the history of this podcast.
- We share our favorite episodes from this year.
- A summary of what we’ve experienced in 2025.
- Expanding on our outlook for the year ahead.
- We discuss what it’s like to walk away from a deal.
Links Mentioned in Today’s Episode:
Joe Fang on LinkedIn
Andy Huang on LinkedIn
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
Behind every successful property turnaround is a set of choices that shape the outcome. In this solo episode of the Real Estate Investor Podcast, Gary Lipsky walks listeners through a detailed case study of Icon on Spanish Trail, the 256-unit Tucson property he acquired in December 2023. He explains why the deal stood out (an institutional-quality asset purchased at a discount during a period of low transaction volume) and how his team crafted a business plan centered on water savings, staff optimization, and cost-effective upgrades. Gary breaks down the improvements that delivered the biggest impact, from high-efficiency plumbing fixtures and privacy fences to selective painting and smart amenity additions. He also shares the early challenges, including occupancy dips and renovation difficulties, and how focusing on controllables helped stabilize the asset and lift NOI (Net Operating Income) by 36% in the first year. Tune in for a transparent look at the wins, struggles, and strategic pivots behind this value-add execution!
Key Points From This Episode:
- Why Gary chose to spotlight Icon on Spanish Trail as a case study.
- How limited deal flow in Tucson in 2023 created a rare buying opportunity.
- What was appealing about the deal: scale, quality, and discounted pricing.
- An overview of the business plan’s focus on water savings and operational efficiencies.
- Targeted upgrades, including low-flow fixtures and privacy fences.
- Selective repainting and amenity improvements to enhance the property.
- How cost controls and efficiencies lifted NOI by more than 36% in year one.
- Navigating early struggles with occupancy and constraints on pushing rents.
- Capital-raising challenges due to tight liquidity and investor uncertainty.
- Washer-dryer additions as a controllable income-generating upgrade.
- Refinancing the property to lower-rate debt and greater savings.
- Community-building as a driver of retention and resident satisfaction.
- Gary’s key lessons for focusing on controllables, efficiency, and stability.
- Current investment opportunities, from Class A and C options to Icon on Headley.
Links Mentioned in Today’s Episode:
Icon on Spanish Trail
Icon on Headley
Email Andy Huang, Investor Relations Manager
Andy Huang on LinkedIn
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
Joining Gary on the show today is Break of Day Capital's Director of Asset Management, Tim Chui. With over a decade of experience in institutional real estate, Tim Chui has held senior roles at leading firms including JRK Properties, Essex Property Trust, and American Realty Advisors. He began his career analyzing equity and fixed income opportunities before moving into acquisitions, portfolio management, and asset management. Tim has overseen 54 multifamily assets across Southern California totaling more than 12,000 units and $5 billion in value, and has successfully navigated complex, over-leveraged portfolios through challenging market cycles. In today’s conversation, Tim shares what first drew him to the asset management space, the path that led him to his current role, and the skill set needed to excel in the field. He opens up about the toughest property he’s ever managed, the lessons learned, and his proudest accomplishments to date. They also dive into the tools and metrics that drive effective asset management, the industry’s evolving landscape, and where Tim believes the future of asset management is headed. Thanks for tuning in!
Key Points From This Episode:
- Introduction to today’s guest and topic of conversation.
- What first grabbed Tim’s interest in the asset management space.
- The path to becoming an asset manager.
- Tim breaks down the basic skillset required in asset management.
- He shares about the hardest property he’s ever had to asset manage.
- What he learned from his most challenging property.
- His biggest accomplishment so far, in the asset management space.
- Tim sheds light on some of the biggest challenges he faces.
- Asset management tools and resources Tim can’t live without.
- A typical day as an asset manager; from Tim’s perspective.
- What he hopes to achieve when visiting properties on a monthly basis.
- Key metrics he focuses on.
- Tim shares his thoughts on the changes he’s witness and where the industry is heading.
Links Mentioned in Today’s Episode:
Tim Chui on LinkedIn
EliseAI
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
Today on the podcast, Gary sits down with Joe Rinderknecht, founder of Upgrade Partners Capital, a fund of funds, and Cowboy Capital, a real estate investment firm specializing in value-add multifamily properties. With nearly a decade of experience in commercial real estate, Joe has owned and invested in roughly 600 apartment units across Montana, Idaho, Utah, Texas, and Ohio. His background spans property and construction management, asset management for large portfolios, and capital raising for a range of projects. In this conversation, Joe shares his approach to overcoming analysis paralysis through actionable steps like 10-minute napkin underwriting, dives into his strategies for investment and market selection, tells us how he honed his skills in asset management, and shares why understanding every part of the process matters. He also opens up about Tiny’s Tribe, the nonprofit he founded in memory of his brother and grandmother. Tune in for an inspiring and insightful discussion packed with practical advice, personal stories, and lessons on taking action even when fear stands in the way.
Key Points From This Episode:
- We’re introduced to today’s guest, Joe Rinderknecht.
- Joe shares his real estate journey and how he got into commercial real estate.
- He recounts his first encounter with LIHTC section 42.
- Joe’s advice on overcoming analysis paralysis.
- His strategy for potential investment properties and market selection.
- How Joe got into and learned the ropes of asset management.
- He sheds light on Tiny’s Tribe nonprofit work.
- How to get in contact with Joe.
Links Mentioned in Today’s Episode:
Joe Rinderknecht on LinkedIn
Joe Rinderknecht on Instagram
Joe Rinderknecht on Email
Cowboy Capital
Tiny’s Tribe on Facebook
Obsidian Capital
Levi Allen on LinkedIn
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
So much investing advice sounds convincing until the market shifts and the assumptions break. In this episode of the Real Estate Investor Podcast, we sit down with Chad Ackerman to unpack common myths that trap limited partners (LPs) and explore how to replace them with a disciplined, strategy-first approach to passive real estate investing. Chad is the founder of CARE, a coaching practice helping busy professionals unlock the potential of passive real estate investing without becoming landlords or leaving their careers. After co-founding Left Field Investors (now PassivePockets) and learning through both wins and mistakes, he now coaches others on how to define their investor identity, vet deals, and take confident, informed action. In this conversation, you will hear a practical walkthrough of the seven core myths of passive investing and hear advice for newer investors on distributions, accreditation, advisor incentives, and more. He also explains why emotions derail even seasoned investors, shares real-world lessons from his own portfolio, and offers practical tips to set clear goals, navigate deals with confidence, and take action without fear. Tune in now!
Key Points From This Episode:
- Find out why education beats the analysis paralysis.
- Hear why defining your goals and developing a strategy is essential.
- Tips for creating an investor identity sheet and how it can help.
- Explore why past sponsors should always be re-vetted.
- Discover why big projected returns are not a guarantee of a good deal.
- Private Placement Memorandum (PPM) and why it is important.
- Unpack what people get wrong regarding investment distributions.
- Why you should always do your own research and not rely on others.
- Important aspects of diversification and why it needs to be intentional.
- Uncover common myths about investing and learn the value of community.
Links Mentioned in Today’s Episode:
Chad Ackerman Real Estate
CARE Coaching Services
Chad Ackerman on LinkedIn
Tribevest
PassivePockets
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
What do poker strategy and mobile home investing have in common? More than you might think! In this episode of the Real Estate Investor Podcast, we sit down with Pasha Esfandiary to dig into the secret behind his success in real estate and how he is shaking up the mobile home space. Pasha is the CEO and Managing Partner of Evoke Capital, a real estate investment firm specializing in high-upside mobile home communities. After a successful career as a professional poker player, Pasha transitioned into real estate, flipping more than 50 homes in Las Vegas before expanding into multifamily and development projects. Guided by his resilience, emotional intelligence, and a long-term vision, he has built Evoke Capital around creating win-win opportunities for both investors and residents. In our conversation, Pasha explains how skills honed at the poker table, such as long-term thinking, risk mitigation, and disciplined decision-making, have guided his success in real estate. He also shares why he prefers mobile home communities, what operational levers he pulls to maximize performance, and the investing philosophy that continues to shape his approach today. Join us to discover how you can turn an overlooked real estate niche into long-term wealth with Pasha Esfandiary!
Key Points From This Episode:
- Hear about Pasha’s journey from professional poker player to real estate investor.
- What skills from his time as a poker player have helped him be successful in real estate.
- Learn about his approach to investing and why he focuses on long-term holds.
- Find out why his focus is on mobile homes instead of conventional real estate investments.
- The average length of a mobile home tenant and the operational costs of mobile communities.
- Discover what Evoke’s typical buy box is and why the company avoids vacant lots.
- Explore why being overly optimistic is the biggest downfall of real estate investors.
- Hear what most real estate investors get wrong and the cyclical nature of real estate.
- Pasha shares the two qualities that every real estate investor needs to be successful.
Links Mentioned in Today’s Episode:
Pasha Esfandiary
Pasha Esfandiary on LinkedIn
Pasha Esfandiary on Instagram
Evoke Capital
Raising the Stakes
Think and Grow Rich
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
What does it take to steer a multi-million-dollar property through one of the toughest lending environments in decades? In this episode of the Real Estate Investor Podcast, we welcome longtime friend and investor Gody Khambatta. Gody is a research scientist working on cancer treatments, but for over 25 years, he has also been quietly building a substantial real estate portfolio. In our conversation, Gody shares how he grew from house hacking in San Diego to managing more than 400 units across Texas, and talks about his recent battle to recapitalize a 240-unit portfolio. He also discusses the realities of navigating bridge debt, rising interest rates, property tax exemption programs, and the tough decisions that ultimately led to a successful refinance. Join us for insights into pragmatic strategies on debt, asset management, and staying resilient through market swings, with Gody Khambatta. Tune in now!
Key Points From This Episode:
- Welcoming Gody Khambatta, his background, and why he started investing in real estate.
- Hear how Gody was able to build his real estate portfolio from one property.
- His experience with recapitalization and what to consider about a bridge loan.
- Gody outlines how tax exemption programs in Texas can add significant value.
- The difference between local property tax exemptions and roamer property tax exemptions.
- Politics and regulatory hurdles he faced when trying to leverage the tax exemptions.
- Find out how Gody was able to find financing even though the tax exemption route failed.
- Discover why matching debt structure with long-term business plans is crucial.
- Learn about fixed-rate financing and how it can reduce exposure to market volatility.
Links Mentioned in Today’s Episode:
Gody Khambatta on LinkedIn
Gody Khambatta Email
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
1031 exchanges are incredibly valuable for investors and are often underutilized and ignored. Today on the Real Estate Investor Podcast, co-founder and CEO of 1031 Specialists, Jon Hilley, joins us to share a play-by-play of 1031 deals. Tuning in, you’ll hear all about Jon’s career and what his company does, the structure of a 1031 deal, a definition of a few 1031 terms, and so much more! We delve into Jon’s thoughts on Delaware Statutory trusts before he stresses the importance of hiring a qualified intermediary for 1031 exchanges. He even discusses the fee structures and reminds us why proper planning is key in these kinds of deals. Finally, our guest touches on some common mistakes he sees being made in 1031 exchanges. Thanks for listening in!
Key Points From This Episode:
- A warm welcome to today’s guest, Jon Hilley.
- What Jon and his company, 1031 Specialists, do.
- The structure of a 1031 deal and why it’s important.
- Jon explains basis, equity, and net investment goal.
- His thoughts on DSTs (Delaware Statutory Trusts).
- The importance of hiring a qualified intermediary.
- Jon explains his fee structures for 1031 deals.
- The importance of proper planning in 1031 exchanges.
- Common mistakes investors make in 1031 deals.
Links Mentioned in Today’s Episode:
Jon Hilley on LinkedIn
1031 Specialists
Call 1031 Specialists on 631-438-1031
National Association of REALTORS
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
What happens when a former engineer and Shark Tank entrepreneur applies a product developer’s mindset to real estate? Alvin Uy has been focused on real estate in Los Angeles for 22 years, doing construction, fix-and-flips, short-term rentals, ADUs, SB9, and most recently, senior living. In this episode, Alvin shares how he built wealth by treating real estate like a product, creating solutions that attract tenants instead of chasing them. From maximizing returns through ADUs and rent-by-the-room strategies to developing co-living and senior housing models inspired by personal experience, Alvin reveals the creative approaches that have allowed him to thrive in one of the nation’s toughest markets. He also opens up about today’s challenges with capital raising and investor expectations, while offering an optimistic outlook on Los Angeles real estate as the city prepares for global events and a new wave of growth.
Key Points From This Episode:
- Alvin Uy’s pursuit of real estate after seeing his immigrant parents lose everything.
- How Alvin transitioned from aerospace engineering and design into real estate by leveraging creativity and side hustles like flipping homes.
- What appearing on Shark Tank taught him: the value of betting on himself instead of selling out early.
- How viewing real estate as a product helped Alvin by shifting his focus from chasing deals to creating solutions people chase.
- Building ADUs in Los Angeles to force appreciation and cash flow.
- Boosting his returns by pivoting to rent-by-the-room models that maximized market rents and tenant turnover benefits.
- Partnering with a construction team that allows scalable, cost-efficient builds.
- Diversifying by experimenting with co-living models like student housing, assisted living, and sober living.
- Managing investor expectations and navigating market uncertainty with high-end flips.
Links Mentioned in Today’s Episode:
Alvin Uy on LinkedInAlvin Uy on InstagramAlvin Uy on XAARK InvestmentsRich Dad, Poor Dad
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
What does it mean to operate at peak performance, and how can entrepreneurs and real estate investors learn from this principle that athletes adopt? From the NFL field to real estate and beyond, today’s guest, Larry English, knows what it takes to perform at the highest level. In this episode, Larry shares his journey from retiring from football to building success in real estate and founding MindBody Mastery, a program dedicated to helping people unlock peak performance. He breaks down common misconceptions about high achievement, the critical role mindset plays, and more! Larry also reflects on what he wishes he knew about peak performance in his youth, offers advice for anyone stuck in a plateau, and reveals how anyone can reach new levels of growth and performance. You don’t want to miss this one, so be sure to tune in now!
Key Points From This Episode:
- A brief overview of today’s guest, Larry English.
- What led him to retire from football and get into real estate.
- How he became a peak performer not only in football, but real estate too.
- What led Larry to start MindBody Mastery and what they do.
- Some misunderstandings about achieving peak performance.
- How mindset plays a role in the effectiveness of peak performance.
- Larry shares his favorite piece of equipment he uses every day.
- What he would tell his younger self about peak performance.
- Larry’s advice for anyone who has hit a plateau and feels stuck.
Links Mentioned in Today’s Episode:
Larry English on LinkedIn
Larry English on Instagram
Larry English on X
MindBody Mastery
Asset Management Mastery Facebook Group
Invest Smart
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom. To book your complimentary consultation, click the link.
The commercial real estate market is shifting quickly, and in order to keep up and ensure you can finance your investments, you need to be able to adapt. In this episode of the Real Estate Investor Podcast, Anton Mattli from Peak Financing joins us to share his insights on today’s market trends and what lending is like in commercial real estate today. Tuning in, you’ll hear all about why lenders are tightening their scrutiny on loan schedules, how transparency can make or break your lender relationships, and more! He offers practical advice for navigating loan modifications before sharing his outlook on interest rates in the year ahead. Finally, Anton leaves listeners with some advice about seeking a real estate loan. Thanks for listening in!
Key Points From This Episode:
- An overview of today’s guest, Anton Mattli.
- Anton shares his thoughts on the current commercial real estate market.
- Why lenders are scrutinizing real estate loan schedules.
- The importance of transparency when communicating with lenders.
- Anton shares his advice for anyone going through loan modifications.
- How he sees the rates evolving in the next few months.
- Some words of wisdom for anyone looking for a loan.
Links Mentioned in Today’s Episode:
Anton Mattli on LinkedIn
Anton Mattli Email Address
Peak Financing
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
🙏 Special thanks to our sponsor, Bromley Palamountain of Northwestern Mutual — helping professionals and business owners build financial plans that support long-term freedom.
Book your complimentary consultation, click the link: https://www04.timetrade.com/app/nwmf/workflows/NWMUTUAL-RLPA/schedule?resourceId=i9ffzqbyq0&appointmentTypeGroupId=g6sk2yb3&appointmentTypeId=ypax1yx2
Website: https://www.northwesternmutual.com/financial/advisor/bromley-palamountain/
There are always investment opportunities; you just have to be patient enough to look for them! Today, we welcome the founder of the passive real estate investment educational platform, CARE, Chad Ackerman, to the show to discuss everything you need to know about investor syndication! Tuning in, you’ll hear all about Chad’s career and how investing led him to leave his corporate job, some big limited partner mistakes to avoid, and key things to look for in a PPM. We delve into Chad’s focus in the space right now before he tells us about his new coaching program and Passive Pockets. We even discuss what Chad thinks we can expect from the future of investing and interest rates. Finally, our guest tells us about some things he always avoids when looking for investing opportunities. Thanks for listening in!
Key Points From This Episode:
- Introducing Chad Ackerman to the show.
- How Chad got into passive real estate investing.
- Why Chad eventually left his corporate job.
- Some of the biggest mistakes you can make as an LP.
- Key things to look for in a PPM as a limited partner.
- Why Chad is focused on multi-family right now.
- Chad tells us all about Passive Pockets and his coaching program.
- Where he thinks the future of real estate opportunities is headed.
- Chad tells us about his ‘heck no’s’ in investing opportunities.
Links Mentioned in Today’s Episode:
Chad Ackerman on LinkedIn
CARE
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Today, we take a look at what happens when you narrow your focus to a single area, choosing to go a mile deep. We’re joined by Daniel Casey, President and CEO of North40 Capital, a local property developer, and BlackRock Construction Group, a commercial general contractor specializing in multifamily, senior living, and income-producing products. To start, Daniel introduces himself and the companies he runs before explaining how his background as a general contractor serves him in the work he does today. Then, we learn about North40’s commitment to servicing only one area (Tacoma, Washington), why the company stands tall above its competitors, how Daniel built an impressive portfolio without having to raise his own retail capital, and how he and his team identify the areas they’d like to get involved in. We also examine North40’s rent bumps evolution from its inception until now, as well as where the business currently stands and what it has planned moving forward. To end, Daniel details everything we need to know about the 2025 Gobundance Multifamily Summit, and we discover the best ways to connect with him and his work.
Key Points From This Episode:
- How Daniel’s GC background helps him in the work he does today.
- Why his company chose to narrow its focus to one area, but with multiple asset classes.
- How North40 and BlackRock stand out among their competitors.
- The portfolio of assets and investors Daniel built without raising his own retail capital.
- Insight into the buy box: how he and his team identify their target areas.
- Unpacking the evolution of his rent bumps and the differences in Class-A rents.
- Exploring the current state of North40 and BlackRock and their plans for the near future.
- The ins and outs of the upcoming Gobundance Multifamily Summit.
- How to connect with Daniel Casey, North40, and BlackRock.
Links Mentioned in Today’s Episode:
Daniel Casey on LinkedIn
Daniel Casey on Instagram
North40 Capital
BlackRock Construction Group
Asset Management Mastery Facebook Group
2025 Gobundance Multifamily Summit
2024 Gobundance Multifamily Summit – Led by Daniel Casey
The Science of Scaling
J Scott on LinkedIn
Matt Faircloth on LinkedIn
Andrew Cushman on LinkedIn
Amanda Han on LinkedIn
Bethany LaFlam
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Once you truly understand what a wealthy life means to you, you can go out and take action to build that life, and you’re much more in control of your whole life than you may think! Today, we’re joined by Sahil Bloom, Managing Partner of SRB Ventures, writer of the Curiosity Chronicle, and bestselling author of The Five Types of Wealth: A Transformative Guide to Design Your Life, to explore how we can live more holistically wealthy lives. Sahil walks us through how to measure social wealth, social hacks to be aware of, and how to grow in love instead of falling into it. We unpack the IKEA effect, Sahil’s greatest challenges and accomplishments, curiosity as the only real fountain of youth, and the ins and outs of Time Wealth. You’ll also learn about the importance of awareness, the one type of wealth Sahil would gift to his son before all others, and mindsets that have kept him grounded during uncertain times. Tune in to gain practical tools and fresh perspectives on redefining success, building holistic wealth, deepening your relationships, and designing a more intentional, fulfilling life!
Key Points From This Episode:
- What inspired Sahil to write The 5 Types of Wealth.
- How action eliminates fear (and what taking a real leap looks like).
- The story behind “building a bigger boat”
- How to measure social wealth (and some social hacks worth noting).
- Keys to building healthy, thriving romantic relationships.
- Understanding the IKEA effect.
- Lessons from Sahil’s greatest struggles and accomplishments
- Why curiosity is the ultimate fountain of youth
- Relationships that have encouraged hidden parts of himself to emerge.
- Time Wealth, the “yes, damn” effect, and the new opportunity test.
- A recent learning curve that changed how Sahil sees the world.
- How Sahil refuels his awareness and why it matters
- What a wealthy day of health looks like.
- Why he’d gift his son strong relationships over any other kind of wealth.
- Grounding quotes and mindsets for uncertain times
- Best practices for building holistic wealth.
- What Sahil wants to be remembered for in 30 years
Links Mentioned in Today’s Episode:
Sahil Bloom | SRB Ventures
Sahil Bloom on LinkedIn
Sahil Bloom on Instagram
Sahil Bloom on X
Sahil Bloom on YouTube
The 5 Types of Wealth
The Curiosity Chronicle
Invest Smart Summit
Harvard Study of Adult Development
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
With rising debt, shifting prices, and mounting investor uncertainty, what’s really going on in the US economy? In this episode, real estate expert Kathy Fettke joins us to break down key trends shaping the housing and rental markets today. From the rise in multi-family loan delinquency to the surprising stability in home defaults, Kathy explains what these signals mean for investors. We also explore the impact of the potential Big Beautiful Bill, the role of financial engineering in today’s economy, and where prices are rising or leveling across the country. Whether you’re navigating your first investment or managing a growing portfolio, this conversation offers timely insights and practical takeaways. Tune in now!
Key Points From This Episode:
- Introducing today’s guest, Kathy Fettke.
- An overview of how the US economy is doing at the moment.
- The debt-to-income issue and why it’s problematic.
- A breakdown of the rise of multi-family delinquency.
- The positive sides of the Big Beautiful Bill.
- Where prices are going up on houses and where they’re stabilizing.
- Why delinquency rates on homes aren’t going up.
- What all of this really means for investors.
- The role of financial engineering in the US economy.
Links Mentioned in Today’s Episode:
Kathy Fettke on LinkedIn
Kathy Fettke Linktree
Kathy Fettke on X
Kathy Fettke on Instagram
Retire Rich with Rentals
Scaling Smart
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
The dust has barely settled on the Invest Smart Summit 2025, curated by Break of Day Capital, and today, fellow colleagues Andy Huang and Joe Fang join Gary to unpack everything that happened in our third major summit (after the first two focused on real estate and asset management). Andy begins the conversation by explaining why he was more excited about his own panel than others before Joe shares some love for Gary and Ryan Kennedy’s presentations. Then, we discuss key takeaways from the Beyond the High, Mastering Money, and Inside the Mind of a Passive Investor panels, and Andy explains the importance of Break of Day Capital’s commitment to reporting and transparency. We also discover from Gary’s three-summit experience what resonates the most with attending investors, and our three hosts dream of their ideal lineup for future summits. To end, we revisit our favorite speakers from 2025, why we believe that this was a successful and well-rounded event, what to look forward to in the next installment, and how to download all recordings of the Invest Smart Summit 2025.
Key Points From This Episode:
- Andy Huang explains why he was most excited about his own panel at the Invest Smart Summit.
- Joe Fang shares his appreciation for Ryan Kennedy and Gary’s presentations.
- Key takeaways from the Beyond the High panel which compared various investment paths.
- The power of Excel as seen the Mastering Money panel, moderated by Andy.
- Getting ‘Inside the Mind of a Passive Investor’, as moderated by Joe.
- Why Andy reveres Break of Day Capital for its consistent reporting and transparency.
- After three Invest Smart Summits, Gary explains what resonates most with attendees.
- Andy, Gary, and Joe discuss their dream panelists for future summits.
- Standout speakers from the Invest Smart Summit 2025.
- Gary’s protocol for prepping for interviews with people from different industries.
- How to get your Invest Smart Summit recordings and plug into the community.
- What to look forward to at the next summit!
- Gary’s studio debacle, and our final thoughts on this year’s successful, well-rounded summit.
Links Mentioned in Today’s Episode:
Invest Smart Summit
Invest Smart on Facebook
The 5 Types of Wealth
Sahil Bloom
Alexis and Dean
Ryan Kennedy on LinkedIn
Laurel Mintz on LinkedIn
Eric Pan on LinkedIn
Jessica Inskip on Instagram
Kaaren Hall on LinkedIn
Aleksey Chernobelskiy on LinkedIn
Jim Pfeifer on LinkedIn
Jeremy Roll on LinkedIn
Ray Dalio on LinkedIn
Warren Buffett | Berkshire Hathaway
Peter Attia
Raoul Pal on LinkedIn
Jared Dillian
Kathy Fettke
Many first-time investors assume they need a 20% down payment to get started, but that’s not the case! Joining us to break it all down is Joseph Shalaby, founder and CEO of E Mortgage Capital, a national brokerage supporting nearly 900 loan officers across 48 states. He sits down with host Gary Lipsky to discuss the business model behind EMC’s success, key mortgage lessons for investors and loan officers, and financing options that make it easier to purchase your first property. Joseph outlines his three pillars for building a thriving mortgage business (service, community, and relationships) and explains how strong operational support allows loan officers to focus on what they do best. He also shares practical strategies for staying top of mind with clients and dispels common myths around income and loan requirements. To hear the full scope of his approach to business, sales, and navigating real estate finance, be sure to tune in!
Key Points From This Episode:
- Introducing Joseph Shalaby, founder and CEO of E Mortgage Capital (EMC).
- How E Mortgage Capital helps loan officers build their own businesses.
- The full-service ecosystem that supports EMC loan officers nationwide.
- Why strong operational support keeps loan officers focused on sales.
- The importance of finding partners who complement your strengths.
- EMC’s three pillars of success: service, community, and relationships.
- Joseph’s client engagement strategies for staying top of mind.
- Common myths about mortgage requirements for new investors.
- Why you don’t need a 20% down payment to buy your first investment property.
- Alternative qualification options, like bank statements and DSCR loans.
- Reflections from Joseph on the importance of early tech adoption.
- How rapid delegation helps him implement new ideas efficiently.
- Where to learn more about Joseph and E Mortgage Capital.
Links Mentioned in Today’s Episode:
Joseph Shalaby
Joseph Shalaby on LinkedIn
Joseph Shalaby on X
Joseph Shalaby Instagram
Joseph Shalaby TikTok
Joseph Shalaby YouTube
Joseph Shalaby Snapchat
E Mortgage Capital
Coffeez for Closers with Joe ShalabyAsset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Too many high earners look successful on paper but still feel stuck when it comes to building lasting wealth. In this special episode, host Gary Lipsky steps into the guest seat as his daughter, Arielle Lipsky, takes the mic to interview him about the upcoming Invest Smart Summit. Designed for busy professionals, this free virtual event brings together top minds in real estate, business, and personal development, including Sahil Bloom, Tim Storey, and Tom Wheelwright. In today’s conversation, Gary shares how the summit explores not just financial growth, but also health, mindset, and emotional resilience. Discover who the summit is designed for and why it’s not a sales pitch, just honest, practical advice from experts. Gary also previews a few standout sessions, including insights from his bestselling book Invest Smart on spotting red flags in syndications. Join us for a behind-the-scenes look at the Invest Smart Summit!
Key Points From This Episode:
- An overview of the upcoming Invest Smart Summit and its speakers.
- The summit’s focus on building multidimensional wealth, not just real estate investments.
- What to expect: real advice from experts instead of sales pitches or upsells.
- Who the summit is designed for and why accessibility is a priority.
- How attendees can register for free and access recordings if needed.
- A preview of Sahil Bloom’s session with lessons from his bestseller, The 5 Types of Wealth.
- What to expect from Tim Storey’s talk on resilience and mindset.
- How Tom Wheelwright simplifies advanced tax strategies.
- A look at Gary’s session on red flags in real estate syndications.
- Other topics covered, including health, mindset, and legal guidance.
- Where listeners can go to register and view the full speaker lineup.
Links Mentioned in Today’s Episode:
Invest Smart Summit
Invest Smart: Spotting Red Flags in Real Estate Syndications
Sahil Bloom
The 5 Types of Wealth
Tim Storey
Tom Wheelwright
Kathy Fettke
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
AI is rapidly becoming an essential tool across industries, but for real estate and asset management, it’s no longer optional. In his fourth appearance on the podcast, Neal Bawa returns to deliver a powerful masterclass on AI in real estate. Neal is the CEO and Founder/Cofounder of Grocapitus, Multifamily University, and Mission10K. Known as “the Mad Scientist of Multifamily,” his insights have helped him build an asset portfolio nearing $1 billion. Neal begins by reintroducing himself before diving into best practices for using AI in real estate. He explains how ChatGPT supports his developments and investment strategies, why AI excels at recommendations and comparisons, and how machine learning can save both time and money. He also shares tips on making AI tools more effective in the workplace. You’ll learn why AI is indispensable for real estate professionals, how to leverage ChatGPT’s “deep research” feature, and how AI can identify potential vulnerabilities to avoid legal issues. Neal also reveals how he uses AI for market research and which data sets he inputs to get the best results from ChatGPT. Tune in to find out how AI is transforming real estate (and how you can stay ahead of the curve)!
Key Points From This Episode:
- AI in real estate, plus best practices for maximization.
- Why you should be using AI in everything you do.
- How Neal’s ChatGPT Absorption Metric informs new developments and investments.
- The joys of leaning on AI for recommendations and why it’s best for making comparisons.
- Ways to make AI fun and rewarding for everyone at work.
- Becoming an AI master, saving valuable time, and the power of “deep research.”
- How AI can help identify vulnerabilities in contracts and agreements, minimizing legal costs.
- The data sets Neal and his team feed ChatGPT to get the best results.
- How AI fuels his market research.
Links Mentioned in Today’s Episode:
Neal Bawa on LinkedIn
Neal Bawa on Instagram
Neal Bawa on Facebook
Neal Bawa on YouTube
Grocapitus
Multifamily University
Mission10K
Episode 5: Marketing with Neal Bawa
Episode 116: Boosting Net Operating Income with PropTech with Neal Bawa
Episode 185: Neal Bawa – Less Distress
ChatGPT
Microsoft Teams
CoStar
RealPage
Yardi
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Hard assets are time-proven as one of the best ways to build sustaining wealth. Joining us today is Ben Reinberg, the CEO of Alliance Consolidated Group of Companies and author of Hard Assets and Hard Money for Hard Times. We begin with Ben’s background and journey into real estate before diving into what he thinks about the current state of the real estate market. Then, we discover the dangers of chasing big deals when you’re not yet ready to hold them, the roles of resilience, persistence, and self-care in profitable real estate investing, why you need to surround yourself with top talent, and how to go about it, and the way Ben and his team adopt AI at work. To end, we unpack the many lessons that can be found in Ben’s new book, and our guest reminds us why hard assets are the best investments if you’re trying to build wealth.
Key Points From This Episode:
- Ben Reinberg describes who he is and what he does.
- His thoughts on the current state of the real estate market and why we all need to be patient.
- The dangers of chasing big deals when you aren’t ready to hold them.
- Why resilience, persistence, and self-care are vital for real estate investing.
- How to attract amazing talent into your life and resource pool.
- The way Ben and his team lean on AI at work.
- Unpacking the lessons of his latest book, Hard Assets and Hard Money for Hard Times.
- A reminder of why hard assets are the best way to build wealth.
Links Mentioned in Today’s Episode:
Ben Reinberg
Ben Reinberg on LinkedIn
Ben Reinberg on Instagram
Ben Reinberg on X
Ben Reinberg on Facebook
Ben Reinberg on YouTube
Ben Reinberg on TikTok
Alliance Consolidated Group of Companies
Alliance Academy
Hard Assets and Hard Money for Hard Times
I Own It with Ben Reinberg
Invest Smart Summit
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
What does it mean to vet a real estate deal as a limited partner? In this episode of The Real Estate Investor Podcast, host Gary Lipsky welcomes Aleksey Chernobelskiy, Principal at Centrio Capital Partners and Founder of GP-LP Match. Aleksey previously ran Store Capital’s lucrative real estate portfolio and underwriting team before shifting his focus to educating and advocating for limited partners (LPs). Through his daily posts, newsletter, and investing partner platform, he helps LPs avoid costly mistakes and spot opportunities others miss. During the conversation, Aleksey explains the difference between REITs and funds and how return profiles compare across REITs, funds, and syndications. Discover why the Internal Rate of Return (IRR) metric is flawed, Aleksey’s “three pillars” of LP investing, why investors should vet General Partners (GPs), and the biggest mistakes to avoid. Join Gary and Aleksey to learn why downside risk matters, what distorts deal projections, and why honesty, not perfection, builds investor trust. Tune in now!
Key Points From This Episode:
- Background about Aleksey and how he helps LPs evaluate real estate deals.
- Hear what got him interested in educating LPs to make better investment decisions.
- The difference between a Real Estate Investment Trust (REIT) and a real estate fund.
- Find out how return profiles compare across REITs, funds, and syndications.
- Issues with the Internal Rate of Return (IRR) metric and why it should be avoided.
- Discover Aleksey’s “three pillars” of LP investing and what makes it effective.
- Learn why educating yourself (or sitting out) is better than gambling on a deal.
- Unpack the biggest and most common mistakes Aleksey sees from both GPs and LPs.
- How to approach capital calls and why your best investors are your existing ones.
- Explore what is often missing from investment decks and what to include instead.
- Aleksey’s key advice for LPs: study 100 deals and trust the reps.
Links Mentioned in Today’s Episode:
Aleksey Chernobelskiy on LinkedIn
Aleksey Chernobelskiy on X
Centrio Capital Partners
GP-LP Match
Limited Partner (LP) Investing Lessons Newsletter
‘10 reasons why deal flow rules the world’
Invest Smart
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Open land rarely garners the same attention as developed properties due to their perceived value discrepancies. But as today’s guest, Kevin Bupp explains, there are many ways to generate significant income from open spaces like mobile home parks and parking lots. Kevin is a seasoned commercial real estate investor, a top podcast host, and author of The Cash Flow Investor, a practical step-by-step framework for creating financial freedom by investing in commercial real estate. Kevin begins our conversation by explaining who he is, what he does, and how he got into the world of real estate. Then, we discover what piqued his interest in mobile home parks, how he invested before stumbling upon this revenue stream, the challenges he’s overcome and lessons learned since and because of The Great Recession, and the importance of discipline and planning for the worst when entering new investments or developments. To end, we unpack parking lots and why this is a crucial business model to take note of, and we explore why seasoned real estate professionals appreciate the value of longer holds.
Key Points From This Episode:
- Kevin Bupp explains who he is, what he does, and how he got into real estate.
- Understanding what drew him to mobile home parks and how he invested before this venture.
- The lessons he learned from The Great Recession of 2008.
- Challenges he and his company have faced and ultimately, overcome.
- The power of discipline, planning for the worst, and being secure in real estate fundamentals.
- Parking lots: Why this relatively underexplored business model deserves a second look.
- How real estate experience reveals the value of longer holds.
Links Mentioned in Today’s Episode:
Kevin Bupp
Kevin Bupp on LinkedIn
Kevin Bupp on Instagram
Kevin Bupp on Facebook
Kevin Bupp on YouTube
The Cash Flow Investor
‘The Passive Investors Guide to Parking Lot Profits’
Real Estate Investing for Cash Flow | Mobile Home Park
Sunrise Capital Investors
Invest with Sunrise Capital Investors
Brian Spear on LinkedIn
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Uncertainty in the real estate market can create both risk and opportunity. Long-term success belongs to those who know how to navigate it wisely! In this episode, we welcome back investor, macroeconomics expert, and Director of Investor Relations at Break of Day Capital, Joseph Fang, to break down key market trends, interest rate predictions, and investment strategies that matter right now. Gary and Joe discuss their recent acquisition of Icon on Headley, the importance of strategic staffing and property synergies, and how macroeconomic forces (like tariffs and inflation) impact real estate. Joe also shares his insights on interest rate trends and why he believes rates will begin to drop in 2025. For a deeper understanding of market shifts and how to position yourself for success in an unpredictable economy, don’t miss this thought-provoking conversation with Joe Fang!
Key Points From This Episode:
- Insight into a recent acquisition: Icon on Headley and its strategic benefits.
- How sister properties create cost savings and efficiency.
- The state of the multifamily real estate market and deal flow trends.
- Interest rate trends: why Joe predicts rates will drop in the second half of the year.
- The real impact of tariffs on real estate and material costs.
- Strategies for increasing NOI through operational efficiencies.
- Choosing the right type of financing and structuring deals effectively.
- Lessons from market volatility: avoiding overleveraging and maintaining liquidity.
- Why institutional investors are preparing to jump back into real estate.
Links Mentioned in Today’s Episode:
Invest Smart: Spotting Red Flags in Real Estate Syndications
Joseph Fang on LinkedIn
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Is now the right time to invest in real estate, or are we on the verge of a market downturn? In this episode of the Real Estate Investor Podcast, we sit down with seasoned investor Jeremy Roll to unpack the state of real estate investing in today's economic climate. Jeremy began investing in 2002 and left the corporate world in 2007 to pursue financial freedom through passive income. He now manages a network of investors and is also a co-founder of For Investors By Investors (FiBi), where he shares his extensive knowledge of low-risk, predictable investment strategies. In our conversation, we discuss market cycles, risk management, and the strategies that have kept him ahead of economic downturns. He talks about the warning signs he saw in 2020, why it was an overheated market, and the dangerous reliance on floating-rate bridge loans. We explore the role of economic cycles, the impact of interest rates, and why sticking to a disciplined investment framework is crucial. We also delve into how multifamily construction trends might delay a recession, what asset classes have the most future potential, and much more. Join us to discover how passive investors should educate themselves, avoid common pitfalls, and navigate market uncertainty with Jeremy Roll. Tune in now!
Key Points From This Episode:
- Jeremy's background in corporate America before transitioning to full-time investing.
- He explains the early warning signs in real estate he noticed during the early 2020s.
- Unpack the current challenges in real estate investing and how he overcame them.
- Uncover the pros and cons of exiting deals early versus staying in the market longer.
- How money printing causes market distortions and how this impacted real estate.
- Learn about a set investment “box” and how to stick to a strategy despite market hype.
- Why investors should avoid deals that don’t fit a disciplined investment framework.
- Hear why his biggest win for the year was avoiding floating-rate bridge loan investments.
- Jeremy shares his outlook for real estate in 2025 and beyond.
- Explore the role of interest rates and the cautious approach to managing inflation.
- Acceleration of an economic slowdown due to government job cuts and policy changes.
- Find out about what asset classes to invest in and valuable resources for passive investors.
- Tools and strategies that help Jeremy be a better investor and to contact him.
Links Mentioned in Today’s Episode:
Jeremy Roll on LinkedIn
Jeremy Roll Email
FiBi Capital
Episode 96: Bullish or Bearish, with Jeremy Roll
Invest Smart
Calculated Risk Blog
ShadowStats
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
What separates top-performing real estate investors from those who struggle? In this episode, we sit down with Mike Taravella, an experienced real estate investor and asset manager with a background in accounting and corporate finance. Mike is the founder of Niche Holdings, where he manages millions of dollars in assets and provides third-party asset management consulting to optimize client portfolio performance. In our conversation, Mike shares his journey from corporate accounting to real estate and explains how he leveraged financial systems, automation, and AI tools to streamline asset management. We delve into the benefits of structured asset management practices and the concept of Net Promoter Scores. We uncover the power of secret shopping, the importance of financial oversight, and how to overcome CapEx mismanagement hurdles. Mike also unpacks 2024’s real estate market challenges, explores why high-impact KPIs are essential, and explains his approach to handling property managers. Join us to learn how to avoid common mistakes, streamline operations, and maximize portfolio performance in a rapidly shifting market with Mike Taravella! Tune in now!
Key Points From This Episode:
- How Mike transitioned from corporate accounting to real estate portfolio.
- Find out how AI can streamline financial reviews and reporting in real estate.
- Explore how Net Promoter Scores and tenant surveys reveal hidden property issues.
- Learn how to effectively communicate and work with property managers.
- Mike's method for tracking and monitoring assets and the power of secret shopping.
- Why consistent tracking and monitoring improves performance and accountability.
- Uncover the various challenges and trends in the asset management landscape.
- The biggest struggle he faced in 2024 and how he was able to overcome it.
- Hear how CapEx mismanagement can negatively impact investment returns.
- Fraud in property management and ways to prevent it.
Links Mentioned in Today’s Episode:
Mike Taravella
Mike Taravella on LinkedIn
Mike Taravella on X
Mike Taravella on Instagram
Mike Taravella on YouTube
Niche Holdings
ChatGPT
Claude
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
What’s going to be good and bad for the economy in the next year? Dr. Peter Linneman is a renowned real estate expert and economist with nearly 45 years of experience, and he joins us today to share his keen insights into the current and future state of the US economy. Combining academic excellence from Wharton and the University of Chicago with a successful business career as Founding Principal of Linneman Associates, Dr. Linneman is an advisor to leading corporations and multiple published authors. Join us for an informative discussion and a fascinating growth forecast for the coming year in light of productivity, population growth, and geopolitical events. We also discuss tariffs and inflation, the impact of natural disasters on the housing market, and the potential of the build-to-rent market. Don’t miss today’s enriching conversation.
Key Points From This Episode:
- Welcome to leading economic expert and author of Real Estate Finance and Investments, Dr. Peter Linneman.
- Dr. Linneman’s thoughts on economic, real estate, and employment growth in 2025.
- How the economy has developed following the 2020 pandemic.
- Peter’s opinions on USAID and its impact in Africa.
- His predictions on how the price of single-family housing and apartments will change in the coming years.
- How tariffs will affect inflation.
- Advice for lenders on how to put their money to work.
- How the LA fires may affect the LA inventory market.
- His thoughts on where student housing is reliable.
- Insurance rates and expenses in the future.
- The build-to-rent market and how it affects the market.
- Peter’s thoughts on AI.
Links Mentioned in Today’s Episode:
Peter Linneman on X
Peter Linneman on LinkedIn
SAM Elimu CharityLinneman Associates
Real Estate Finance Textbook
The Great Age Reboot
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Joining Gary on the podcast today is Austin Hair. Austin is a real estate developer specializing in identifying prime locations that help clients scale quickly and provide investors with secure, compounding returns. With over a decade as a professional wakeboarder and a finalist on American Ninja Warrior, Austin combines discipline and calculated risk-taking to excel in real estate investment. He focuses on finding low-risk, high-return opportunities that benefit both tenants and investors. Tune in to hear how Austin got into the business of real estate and the key data points they look at when choosing their locations. He even highlights risk return ratios they analyze to make investments safer. For all this, and more, start listening now.
Key Points From This Episode:
- Listeners are introduced to today’s guest, Austin Hair.
- More about what he does and how he got into the business of real estate.
- Key data points they look for when choosing locations.
- Why they haven’t tried their approach on any other asset class.
- He highlights other risk-return rations they look at to make investments safer.
- The pros and cons of the medical retail asset class.
- Austin shares his thoughts on what he’s seeing (geographically) for 2025 and the markets he is looking at for the medical field.
Links Mentioned in Today’s Episode:
Austin Hair on LinkedIn
Austin Hair on Instagram
Austin Hair on X
Austin Hair on Facebook
Austin Hair on YouTube
Leaders Real Estate
Helping Healthcare Scale
Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich
Entrepreneurial Leap: Do You Have What it Takes to Become an Entrepreneur?
Pitney Bowes
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
One of the great pains of being a homeowner is dealing with squatters and even worse, title fraud. Today, with the help of George McCleary, we learn how to protect ourselves against would-be squatters and how to be prepared when someone tries to rob you of your equity. George is the CEO of Defender Networks, a company dedicated to protecting their users from squatters, title fraud, and other real estate scams, and he gained viral fame by exposing how effortlessly a house can be stolen in his social media video, “I stole a House.” We begin with George’s professional background and how he reacted to his new-found fame before he shares some incredible squatting stories from his experience. Then, we unpack squatting legalities, the costs to homeowners when squatters take over, common character traits among most squatters, and how squatting can lead to investment losses. To end, George unpacks title fraud and the many details we may not know about equity being stolen, and he shares crucial solutions for preventing squatting and title fraud.
Key Points From This Episode:
- Defender Network’s CEO, George McCleary explains who he is and what he does.
- How he was stunned by his viral fame before embracing it.
- Crazy, unbelievable, and sensational squatting stories.
- How to legally remove squatters from your home.
- The eyewatering costs of squatting, and common squatter characteristics.
- How squatting ruins investments.
- The ins and outs of title fraud.
- How to prevent squatting and title fraud.
Links Mentioned in Today’s Episode:
George McCleary
George McCleary on LinkedIn
George McCleary on Instagram
George McCleary on Facebook
George McCleary on X
George McCleary on TikTok
George McCleary on YouTube
I Stole a House | George McCleary on X
Title Fraud Defender- 20% off Promo Code: BODC
Squatter Defender- 20% off Promo Code: BODC
Gobundance
David Greene on LinkedIn
American Land Title Association
Gobble Gobble Give Thanksgiving Charity
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Hannah Hammond is a resilient entrepreneur who overcame a challenging childhood to build a remarkable career, founding and leading multiple successful companies across real estate, lending, construction, and property management. During this episode, she joins us to share her story and to offer insights on entrepreneurship, financial success and personal growth. From the book that started it all to the evolution of her business, we discuss Hannah’s self-education and the key insights that have shaped her career. We also unpack the role of fear and why a little bit of trepidation can be a good thing for entrepreneurs, what Hannah sees as her greatest achievement, and what changes when you realize that although finances are important, there is much more to life than money. Join us today to hear all this and more.
Key Points From This Episode:
- Introducing guest, Hannah Hammond, a serial entrepreneur in property management, lending and construction.
- The book that sparked her interest in finding financial success.
- What being an entrepreneur is truly about: freedom.
- How her debt fund began and what it has evolved into in 2025.
- Some of the books that have been pivotal to Hannah’s self-education.
- The basis of real estate and how she came to realize what it truly is.
- Hannah’s relationship with fear.
- Why she believes in building slowly and steadily.
- What Hannah sees as her greatest achievement: personal growth.
- Embracing the perspective that happiness is more important than money.
- Hannah’s upcoming podcast.
Links Mentioned in Today’s Episode:
Hannah Hammond on LinkedIn
Hannah Hammond on Instagram
Hannah Hammond on YouTube
Hannah Hammond on X
The Hannah Hammond Show
Rich Dad, Poor Dad
Dan Sullivan
The Millionaire Real Estate Investor
Rich Dad’s Guide to Investing
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
What makes a successful relationship between operators and general contractors? In today's episode, we speak with Ruben Ortiz, founder of Sayan Renovations & Construction. Based in Dallas, Ruben and his team tackle complex multifamily Capex projects with a focus on quality, innovation, and authenticity. In our conversation, Ruben shares his journey from working alongside his father in construction to leading a nationwide team transforming multifamily properties. We discuss how Sayan Renovations & Construction builds strong GC-operator relationships, hear practical advice on value-add projects, and uncover actionable insights to help investors optimize their Capex strategies. Join us to learn how to create lasting impact, improve ROI, and streamline construction processes in your multifamily investments with Ruben Ortiz. Tune in now!
Key Points From This Episode:
- Ruben’s journey from laborer to founder of Sayan Renovations & Construction.
- How Ruben’s team tackles large-scale multifamily Capex projects with precision.
- Learn why honesty and transparency are vital in building GC-operator relationships.
- Discover the common pitfalls operators face when selecting a GC.
- The importance of early GC involvement in budgeting and planning.
- Ways branding and first impressions can transform leasing success.
- Cost-effective upgrades that significantly enhance multifamily properties.
- Uncover the ROI potential of exterior renovations and amenity improvements.
- Advice on how operators can work with GCs effectively and the pitfalls to avoid.
- Hear about Ruben’s standout projects and his approach to nationwide coordination.
Links Mentioned in Today’s Episode:
Ruben Ortiz on LinkedIn
Sayan Renovations & Construction
Sayan Renovations & Construction on Instagram
Sayan Renovations & Construction on Facebook
Sayan Renovations & Construction on LinkedIn
Disrupt Equity
Momentum Multifamily
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Welcome back to a new year and another episode of The Real Estate Investor Podcast with your host, Gary Lipsky of Break of Day Capital. In this episode, Gary dives into today’s topic: finding and closing deals in the current market. He shares insights from their most recent deal, recaps the capital trends of 2024, and offers actionable tips to help you prepare for when deals come to market. Tune in to discover what made this a challenging year for investors, why understanding your market is crucial, and hear Gary’s important public service announcement. Thanks for listening!
Key Points From This Episode:
- The focus of today’s episode: finding and closing deals in today’s environment.
- Gary shares details about their most recent deal and their plans for the property.
- A quick recap of last year’s capital side of things.
- What you can do to remain ready for when deals are eventually put out.
- What made this year, as an operator, a rough year.
- The importance of knowing the market well, and running real estate as a real business.
- A public service announcement from Gary.
Links Mentioned in Today’s Episode:
National Multifamily Housing Conference NMHC
Invest Smart: Spotting Red Flags in Real Estate Syndications
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Taxes don’t have to be daunting, especially when you know the strategies to make them work for you. In today’s episode, we welcome back Brandon Hall, a practicing CPA and the founder and managing partner of Hall CPA, to unpack powerful tax-saving strategies every investor should know. Brandon delves into key topics for year-end tax, like how to handle bonus depreciation and the best ways to navigate the short-term rental loophole. He breaks down some of the pitfalls of trying to save money in the short term and the benefits of thinking long-term and reducing your effective tax rate, offering a clear breakdown of how to save money in the long run. Discover different long-term tax saving strategies, like the BRRRR method, and how to approach mechanisms like a 1031 exchange. Brandon also breaks down how to deal with passive activity netting, qualifying as a real estate professional, and why it’s essential that you master documentation and admin work to successfully utilize the short-term rental loophole. Don’t miss out on this must-listen for investors aiming to leverage tax advantages wisely and avoid costly pitfalls!
Key Points From This Episode:
- Expected upcoming tax changes with the new Republican administration.
- Advice for handling bonus depreciation at the end of the year.
- When and how to get your cost segregation (cost-seg) study done.
- How audits have increased and why you should document all receipts.
- Thinking long term with your taxes and how to reduce your effective tax rate with tax planning.
- The tax benefits of investing in oil and gas (and whether it’s worth it).
- How to successfully use the BRRRR strategy: buy, rehab, rent, refinance, repeat.
- The benefits and drawbacks of a 1031 exchange, like the swap and drop method.
- Discerning between passive and non-passive activities and how to use them.
- Passive activity netting: what it is and how to leverage it.
- The requirements for qualifying as a real estate professional.
- A breakdown of how to navigate the short-term rental loophole.
- Taking on the administrative burden of the short-term rental loophole.
- A cautionary tale from a 2020 tax court case, Lucero vs. Commissioner.
Links Mentioned in Today’s Episode:
Brandon Hall on LinkedIn
Hall CPA
Hall CPA on X
Hall CPA on Facebook
Episode 120: Real Estate Tax Changes with Brandon Hall
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Jon Simpson is passionate about helping multi-family investors turn leads into leases. Founder of Criterion.B and BeSwifty, Jon is a multifamily marketing expert with over 20 years of experience in digital solutions and AI-driven property marketing and he joins us in conversation to share key insights from his extensive experience. He has worked with top brands like AG Spanos Corporation and RPM helping property managers streamline processes and convert leads into leases. Tuning in, you’ll hear how Jon approaches website builds for clients, property photography, and marketing spend. He shares his thoughts on having a digital presence you can control, why ILS is a great place to prioritize this, and why, although it is the most expensive place to advertise, he recommends Google above all other options. Finally, we discuss the importance of getting the most out of AI to optimize marketing efforts and what you can really do with the data that it provides. Thanks for tuning in.
Key Points From This Episode:
- Introducing Jon Simpson and his journey to multi-family.
- His client onboarding process and where he begins to work with them.
- How he approaches building a website when a client has an existing site.
- Understanding photography rights and partnering with the appropriate companies.
- Using Google Business and Google Ads to maximize marketing efforts and drive visits to the site.
- How much you should actually be spending on marketing.
- Why you need to have some presence on ILS.
- Understanding why Google is the best place to spend your money even though it is expensive.
- How Jon leverages the power of AI to optimize his marketing efforts.
- Why he is a big believer in geofencing for apartments.
- Understanding the lead time of your marketing efforts.
Links Mentioned in Today’s Episode:
Jon Simpson on LinkedIn
Jon Simpson on X
Swifty
Criterion.B
RPM Real Estate
NRE Developments
A.G. Spanos Companies
AMLI Residential
Zumper
HomeJab
Apartments Geofencing
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
What’s the current state of the multifamily real estate market, and how can investors navigate today’s economic challenges? In this episode, we welcome J Scott, a partner at Bar Down Investments and an acclaimed real estate investor. He’s also the author of five books published by BiggerPockets and co-host of the very popular Drunk Real Estate Podcast. In our conversation, J delves into the impact of the recent interest rate cuts on mortgage and cap rates, explains trends in housing supply and demand, and examines how inflation and economic shifts are influencing multifamily properties. He also shares advice on overcoming rising expenses, navigating distressed debt opportunities, and avoiding common mistakes as a real estate investor. Join us to gain insights on managing multifamily investments in a rapidly evolving market with J Scott. Tune in now!
Key Points From This Episode:
- The influence of recent rate cuts on mortgage rates and the multifamily market.
- Cap rates and why current conditions create a buyer’s market.
- Navigating market volatility and why buying during downturns is a good strategy.
- Key economic indicators that J tracks to uncover industry trends.
- How inflation has capped rent growth while increasing operating costs.
- Perspectives on the most common mistakes real estate investors make.
- J’s advice: invest for the long term and avoid selling assets prematurely.
Links Mentioned in Today’s Episode:
J Scott
J Scott on X
J Scott on LinkedIn
Bar Down Investments
Drunk Real Estate Podcast
BiggerPockets
BiggerPockets Books by J Scott
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Ever wonder what it truly takes to reach financial freedom? In this episode, Aaron West breaks down the mindset and steps behind his "7 Levels of Wealth" concept. Aaron is the owner of The West Experience Real Estate Group and has built a successful career in real estate, including fix-and-flips and wealth-building strategies. He is passionate about helping entrepreneurs achieve financial freedom and live fulfilling lives. In our conversation, Aaron delves into his journey from growing up in poverty to building a successful real estate portfolio and creating wealth. He discusses the common lessons learned from interviewing successful entrepreneurs and the importance of deciding to be wealthy, persevering through struggles, and the power of relationships. Aaron shares actionable advice on how entrepreneurs can transform failures into successes, stay focused on their niche, and leverage the concept of "stewardship" over their finances. Join us to discover the secret to living in abundance and learn why giving back is vital to building long-term wealth with Aaron West!
Key Points From This Episode:
- Aaron's background, his life growing up, and his journey into real estate.
- The 7 Levels of Wealth concept and how to build a foundation for future wealth.
- Why true wealth involves a holistic approach and is not just about financial success.
- Shifting from a mindset of instant gratification to long-term stewardship of money.
- Explore the importance of focusing on your niche and avoiding distractions.
- Steps for navigating the personal transformations needed for long-term success.
- Find out why fostering authentic relationships with people is vital for success.
- How living in abundance through helping others brings more wealth and fulfillment.
Links Mentioned in Today’s Episode:
Aaron West on Instagram
Aaron West on TikTok
Aaron West on Facebook
The West Experience Real Estate Group
Gobundance
Rich Dad Poor Dad
Rich Dad
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Real estate investing is not about numbers or transactions, it’s a relationship business! This is the opinion of today’s incredibly successful guest, real estate investor, and host of the podcast, The Real Estate Guys, Robert Helms. He joins us today to discuss his career and all things investment opportunities. Tuning in, you’ll hear all about Robert’s impressive career, why he tries not to sell property and instead collect it, the importance of narrowing your market focus, and why you need a personal investment philosophy. We delve into Robert’s experience in international investment, his favorite markets, and the benefits of investing outside the US before discussing where the biggest investment opportunities lie in real estate. Our guest even shares the two biggest contributors to his success. Finally, Robert walks us through the biggest mistake he made in his career and the lessons he learned from it. Thanks for listening!
Key Points From This Episode:
- Introducing today’s illustrious guest, Robert Helms.
- Robert tells us about his incredible career and why he sees himself as a real-estate ‘collector’.
- Why he doesn’t think a good investor can focus on too many markets at once.
- The importance of having a personal investment philosophy.
- Robert tells us where he sees real estate investment evolving in the future.
- A few benefits of investing outside of the US and Robert’s favorite international markets.
- Where Robert thinks the biggest opportunity in real estate lies.
- The two biggest factors that have contributed to Robert’s success.
- Robert shares the most difficult lesson he’s learned throughout his career.
Links Mentioned in Today’s Episode:
Robert Helms
Robert Helms on Instagram
Equity Happens: Building Lifelong Wealth with Real Estate
The Real Estate Guys
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Living in abundance starts with cultivating the right mindset, and it is a consistent effort to stay motivated to live up to your full potential. To explain how a mentality of abundance improved his life, we are joined today by the CEO of GoBundance, Matt King. GoBundance is a member-led mastermind built for hardworking overachievers, and Matt describes what his role as CEO entails and how he finds joy at work. We unpack ways of escaping the mental prison of imposter syndrome, how the people and places around you influence your success, why hard work is the only true path to prosperity, and why Matt’s 29029 Everesting challenge experience is the perfect example of the benefits of dedication and perseverance. To end, Matt explains why even the worst life experiences are still a gift and a blessing, the value of building relationships with like-minded people, how to build a mindset of abundance, and helpful resources to help you unlock your full potential.
Key Points From This Episode:
- GoBundance CEO, Matt King explains who he is and what he does.
- How Matt knows when he’s limiting himself, and how he escapes this mental prison.
- The people and places that paved his road to success.
- Why hard work is the only route to prosperity, and how to avoid taking the easy road.
- Matt’s reasons for taking on the 29029 challenge, and what he gained from the experience.
- Why he believes that every life experience—even negative ones—is a gift.
- What he means when he says “eagles fly with eagles.”
- How living with intention and creating a vision helps to build a mindset of abundance.
- Helpful resources for living a life with purpose and fulfilling your potential.
Links Mentioned in Today’s Episode:
Matt King
Matt King on LinkedIn
Matt King on Instagram
Matt King on YouTube
Matt King Email
GoBundance
David Osborne on LinkedIn
29029 Everesting
Rock Thomas
Ego is the Enemy
As a Man Thinketh
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
What does it take to successfully raise capital and build lasting investor relationships? In this episode of The Real Estate Investor Podcast, we’re joined by Ryan Miller; Founder and CEO of Pentium Capital Partners and host of the global top 2% podcast, Making Billions with Ryan Miller, who shares his 15 years of experience navigating the world of finance and capital raising. Ryan takes us through his journey from humble beginnings to managing multimillion-dollar portfolios, outlining his approach to leveraging reputation, relationships, and results. He offers actionable advice for getting started; including the importance of building a network using his Triple F rule, refining your pitch, and practicing generosity when networking. If you’re looking to elevate your fundraising game, this episode provides invaluable strategies for attracting investors and ensuring that deals come your way. To learn how to build a strong capital pipeline and achieve long-term success in real estate investing, don’t miss this inspiring conversation with visionary finance leader, Ryan Miller!
Key Points From This Episode:
- The story of how Ryan built his first venture capital portfolio and never looked back.
- Three Rs and Triple F: best practices for raising capital.
- Practical tips to help you find investors and refine your pitch.
- Common mistakes that many fundraisers make and how to avoid them.
- How joining boards and associations can boost your network and success.
- Key disciplines of capital raisers: never eat alone, always learn their story, and more.
- Why you must be willing to give in order to receive.
Links Mentioned in Today’s Episode:
Pentium Capital Partners
Making Billions with Ryan Miller Podcast
Ryan Miller on LinkedIn
Ryan Miller on Instagram
Ryan Miller on YouTube
Ryan Miller on X
Ryan Miller Email
Fund Raise Capital
Never Eat Alone: And Other Secrets to Success, One Relationship at a Time
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Asset management requires constant forward-thinking to ensure long-term success. Today we are joined by the co-founder of Catalyst Equity Partners, Shane Thomas, to discuss quality asset management. Tuning in, you’ll hear about Shane’s business, why he decided to open an in-house construction business, the biggest asset management struggles at the moment, how he overcomes them, and more! We also dive into the importance of effective communication, playing the long game in asset management, and how Shane’s CPA background has contributed to his success. Plus, Shane shares valuable advice on hiring earlier in your asset management business. Press play now to catch it all!
Key Points From This Episode:
- Introducing today’s guest, Shane Thomas.
- A brief overview of his business, Catalyst Equity Partners.
- What inspired him to start CEP Construction.
- Shane’s biggest, and most recent, struggles with asset management.
- The importance of effective communication in good and bad times.
- Playing for the long game in asset management.
- How Shane’s CPA background helped him in property management.
Links Mentioned in Today’s Episode:
Shane Thomas on LinkedIn
Shane Thomas Email Address
Catalyst Equity Partners
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
As a nation, we know very little about residential assisted living (RAL) compared to other real estate categories. So today, we welcome the two-time bestselling author and COO of Residential Assisted Living Academy (RALA), Isabelle Guarino, who sheds more light on the importance of RAL and how you can get involved. Named as one of the “Top Influencers of Senior Housing” and a two-time recipient of "The Future Leader of Assisted Living" title, Isabelle is undoubtedly America’s top coach and trainer for all things RAL. She begins with a detailed breakdown of RALA before diving into the common pitfalls of operators new to RAL, the qualifications and hires that are required to run an assisted living facility, the limitations that RAL administrators have to work around, and how a residency care plan differs entirely from a tenant/landlord agreement. We also unpack proper ways to go about RAL research, helpful tools and technologies that are currently available, how scaling works in RAL, and everything else that you need to know to kick-start your residential assisted living venture.
Key Points From This Episode:
- RAL guru Isabelle Guarino explains the work of the Residential Assisted Living Academy (RALA).
- Common mistakes that operators make when joining the RAL space.
- The qualifications and key hires necessary to run a residential assisted living facility.
- Understanding the limitations placed on RAL administrators.
- Diving deeper into the numbers and economic implications.
- The differences between a tenant/landlord agreement and a residency care plan.
- How to find the right data when doing RAL research.
- A closer examination of how RALA trains its students to be successful.
- The future of RAL, and helpful technologies and tools to use.
- How scaling transpires in rental assisted living.
- Everything else that you need to know before joining RAL.
Links Mentioned in Today’s Episode:
Isabelle Guarino on LinkedIn
Isabelle Guarino on Instagram
Residential Assisted Living Academy | RALA
RAL101
The Young Boss Podcast
Living Legacy
Young Boss
The Silver Tsunami of Seniors
Residential Assisted Living National Association | RALNA
Genworth
CarePredict
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Are you interested in scaling your business but have concerns about overreaching and going broke? In her new book, Scaling Smart, Kathy Fettke gives readers a comprehensive guide to creating a self-managing business without sacrificing growth. Kathy is a renowned real estate expert, author of the best-selling title, Retire Rich with Rentals, and co-founder of RealWealth. We are delighted to have her back on the show today to talk about the contents of her new book, Scaling Smart, and how to take on the challenge of scaling your real estate investments. Tune in as she outlines how she first entered real estate due to a family crisis, the key lessons she learned from navigating syndication after the 2008 crash, and how her experiences informed her new book. You’ll also hear her strategies for designing a self-managing business and how to scale thoughtfully by building an incentivized team and establishing inspired leaders within your company. For anyone looking to scale smartly and sustainably, Kathy's advice is a game changer!
Key Points From This Episode:
- Introducing Kathy Fettke, founder of RealWealth.
- Kathy’s new book, Scaling Smart, and why she wrote it.
- How her book is helping people scale their businesses without going broke.
- Her journey from stay-at-home mom to real estate investor
- Kathy’s experiences with the syndication process in 2009.
- The biggest mistakes she made and what she learned from them.
- Kathy’s insights on avoiding ego-driven decisions.
- The importance of identifying your why and what you truly want.
- Key lessons on creating a self-managing business.
- How to establish inspired leaders and build an incentivized team.
- Where you can find Kathy’s new book Scaling Smart.
Links Mentioned in Today’s Episode:
Kathy FettkeKathy Fettke on X
Kathy Fettke on Instagram
RealWealth
Retire Rich with Rentals
Scaling SmartKen McElroyTractionJilliene Helman
Realty Mogul
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Our very own Gary Lipsky has written another incredible real estate investment book! Invest Smart: Spotting Red Flags in Real Estate Syndications and in this episode of the Real Estate Investors Podcast, Gary is telling us all about it. Tune in to hear what you will learn from the book, why he wrote it, who it is for, and so much more! Head over to Amazon now to get your hands on this incredible guide that will make you a better real estate investor and be sure to email your review to Gary when you’ve read it! Thanks for listening in!
Key Points From This Episode:
- Introducing Gary’s new book, Invest Smart.
- What you will learn from the book.
- Why Gary decided to write this book.
- Who Invest Smart is for.
- A breakdown of what is covered in the book.
Links Mentioned in Today’s Episode:
Email Gary Lipsky
Best In Class
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Are you ready to scale your real estate investments but feel unsure of how to take the next step? This is the episode for you! Joining us today to share his take on how to scale efficiently (and painlessly) is John Casmon, a former corporate marketing executive turned real estate entrepreneur. John is the founder of Casmon Capital Group, where he and his team help busy professionals invest in real estate without having to deal with the difficulties of being a landlord or flipper themselves. Tuning in, you’ll hear about John’s journey from corporate marketing executive to managing over $100 million in apartment investments and the challenges he had to overcome along the way. You’ll also find out how he took the leap into entrepreneurship, why you can’t scale without partnerships, and what you need to consider when building a reliable team you can trust. To hear all of John’s insights about how you can learn to think bigger, don’t miss this fascinating conversation!
Key Points From This Episode:
- John’s journey from corporate marketing to real estate.
- Utilizing partnerships and funds to scale investments.
- Reasons to surround yourself with like-minded individuals you can learn from.
- How to build a reliable team based on character and complementary skills.
- Ways to overcome fears and setbacks in real estate investing.
- How John’s involvement in a faulty flipping business reinforced his focus on multifamily.
- Advice for addressing “analysis paralysis” when investing.
- Why learning from your mistakes is essential in real estate.
- Branding and marketing insights from John’s corporate marketing background.
Links Mentioned in Today’s Episode:
John Casmon on LinkedIn
Casmon Capital Group
Multifamily Insights Podcast
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Conducting detailed research and having great relationships with municipalities, contractors, and investors is the best way to avoid hefty delays in development deals. Today's guest is Andrew Brewer, a stationary engineer-turned-commercial operator and developer, and the Founder of IronGall Investments. We begin today's conversation with Andrew's professional history before discovering how his stationary engineering background makes him a better investor today. Andrew then details all important considerations for investors who are keen on ground-up developments, and we discuss the roles of research and relationships in shortening delays within a project. To end, Andrew shares pearls of wisdom as he reflects on the hardest business lesson he's ever had to learn.
Key Points From This Episode:
- Welcoming IronGall's Founder, Andrew Brewer as he details his professional history.
- What a stationary engineer does, and how this makes Andrew a better investor.
- Important considerations for investors when entering a ground-up development.
- How comprehensive research and building good relationships help to shorten delays.
- Exploring one of the hardest lessons that Andrew has ever had to learn.
Links Mentioned in Today’s Episode:
Andrew Brewer on LinkedIn
Andrew Brewer on Instagram
Andrew Brewer Email
IronGall Investments
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Section 1031 in the tax code can be leveraged to your advantage when it comes to real estate investing and today on the Real Estate Investor Podcast, Brandon Burns is here to give listeners a 1031 master class. Listening in, you’ll hear all about the power of the Section 1031 tax code in investing, what a 1031 scenario looks like, what could go wrong, how to select a qualified intermediary, and more! Brandon delves into the different kinds of 1031 exchanges before explaining what a reverse 1031 is and why it’s a safe option. Finally, our guest reminds listeners to educate themselves and plan in advance before getting themselves into any situation. To hear all this and so much more, be sure to tune in now!
Key Points From This Episode:
- Welcoming Brandon Burns to the show.
- The power of the Section 1031 tax code in real estate investing.
- Brandon walks us through a 1031 scenario in multifamily.
- Some possible reasons 1031 exchanges don’t work out.
- The key qualities to look for in a qualified intermediary.
- A breakdown of the three different kinds of 1031 exchanges.
- Brandon explains what a reverse 1031 is.
- The tax burdens involved in buying property.
- A reminder to educate yourself on the rules before closing a deal.
Links Mentioned in Today’s Episode:
Brandon Burns on LinkedIn
Brandon Burns Email Address
Brandon Burns on Instagram
Vanguard 1031 Exchange
Vanguard 1031 Exchange Contact Number: 858-331-1031
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
While multifamily investors face numerous challenges in today's market, there are still many lucrative opportunities available. Join us as we delve into the current state of multifamily investing with Feras Moussa, co-founder of Disrupt Equity, a vertically integrated commercial real estate investment firm specializing in multifamily acquisitions. As a serial entrepreneur and multifamily expert, Feras brings a wealth of experience to this episode, having overseen the acquisition of over 5,000 units and more than $800 million in assets across Georgia, Texas, and Florida. Listen in as he shares valuable advice for negotiating loan MODs, the importance of building communities, not just housing, and why cultivating a strong network is crucial for your financial success. Whether you're a seasoned investor or a beginner, you’ll discover actionable strategies to elevate your multifamily investment game. Don't miss this opportunity to gain practical knowledge and insights that can potentially transform your investment approach!
Key Points From This Episode:
- Insight into Feras’ tech background and how it led him to real estate investing.
- His predictions for the real estate market over the next few years.
- Tips for negotiating loan MODs and creating a win-win scenario with the lender.
- The story of a recent incident that followed the closure of one of Feras’ deals.
- Combatting the negative light that the press often casts on property owners.
- Why building a community and caring for your tenants are good business decisions.
- How you can benefit from the upcoming Multifamily Investor Network Conference.
Links Mentioned in Today’s Episode:
Disrupt Equity
Feras Moussa on LinkedIn
Feras Moussa on Instagram
Feras Moussa on X
The Multifamily Investor Network Conference — Discount Code: LIPSKY
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
In this episode, we sit down with Patrick Francey, a multi-business owner and the CEO of the Real Estate Investment Network (REIN), to delve into the complexities of the US and Canadian markets and the different real estate market cycles. Patrick is a highly experienced real estate investor and entrepreneur with over 40 years in the industry. As the CEO of REIN, he guides investors through the nuances of real estate investment to help them build successful portfolios. In our conversation, Patrick shares his journey into real estate investing, what got him interested in it, and the significant differences between the US and Canadian markets. Explore the importance of understanding regional economic fundamentals, having a clear investment strategy, the value of focusing on regional markets, and how to prepare for economic cycles. Gain insights into the aspects to consider before investing in a property, why there is no bad time for real estate investing, the importance of being a problem solver, and the various hurdles investors face in real estate. He also shares lessons from his real estate investment journey and why it is vital to stay educated and savvy to be successful. Tune in to uncover the secret behind navigating the ever-changing real estate market with Patrick Francey!
Key Points From This Episode:
- Background about Patrick, his company, and how he got involved in real estate.
- Learn about the differences in real estate investment between the US and Canada.
- Discover the importance of regional market analysis over national averages.
- Regional economic aspects to consider, such as GDP and job growth.
- Explore the pros and cons of immediate and long-term investment strategies.
- Navigating the real estate cycle and adjusting strategies accordingly.
- The role of partnerships and aligning values with partners.
- Unpack the impact of economic cycles on investment opportunities.
- Patrick shares advice for budding real estate investors.
- Why being a problem solver in real estate is essential for success.
Links Mentioned in Today’s Episode:
Patrick Francey on LinkedIn
Patrick Francey on Instagram
Patrick Francey on X
Real Estate Investment Network (REIN)
The Everyday Millionaire Podcast
The Wealthy Barber
Rich Dad Poor Dad
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
What if your biggest obstacle in life is, in fact, yourself? In today’s episode, Gary Lipsky sits down to interview Aaron Velky, a transformational coach who helps entrepreneurs overcome personal challenges to achieve their goals. Tuning in you’ll learn about the critical role that mindset plays in achieving success, along with strategies for breaking out of comfort zones and addressing self-limiting beliefs. Aaron shares his journey from coaching youth soccer to guiding business professionals before offering insights on how to overcome "analysis paralysis" in real estate investing and beyond. Through personal stories and practical advice, he emphasizes the importance of continuous self-evolution and taking decisive action toward one's vision. Tune in to gain valuable strategies for personal growth and entrepreneurial success, and be inspired to take the next step in your journey!
Key Points From This Episode:
- Aaron Velky's journey from youth soccer coach to transformational coach for entrepreneurs.
- Why the biggest obstacle to achieving success is usually your mindset.
- Strategies for identifying and overcoming self-limiting beliefs.
- The role of continuous self-evolution in maintaining long-term success.
- Techniques for breaking out of your comfort zone to foster growth.
- How to overcome "analysis paralysis" in real estate investing and other ventures.
- Practical advice on taking decisive action toward one's goals.
- One of Aaron’s most successful transformation stories.
- Encouragement for listeners to embrace challenges as opportunities for development.
Links Mentioned in Today’s Episode:
Aaron Velky
Aaron Velky on LinkedIn
Aaron Velky on Instagram
Get Out of Your Own Way
Get Out Of Your Own Way Podcast
Tony Robbins
Rock Thomas
Brian Weiss
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Reading the markets and benefiting from both ups and downturns requires a ton of experience and vast knowledge of the real estate market. With over 30 years of entrepreneurial experience and success in business operations and real estate management, today’s guest, Michael Hananel, is the perfect person to walk us through the cycles of success of real estate, so that you can make the most of your next property venture. Michael is the CEO of Strategic Growth Real Estate – a commercial real estate, brokerage, investment, and property management firm that he founded in Los Angeles in 2012 – and he begins by sharing all the details behind his decision to invest in Buffalo. Our conversation explores the possible future of real estate in America, what a financial crisis could mean for the market, how rates could be affected in the next five years, and what potential investors and owners should be considering before their next buy. To end, Michael identifies what makes a great property manager, how to find one for yourself, and the role of AI in the future of property management.
Key Points From This Episode:
- Michael Hananel’s professional background, and the work of Strategic Growth Real Estate.
- Why he was blown away when he began investing in Buffalo.
- Predicting the future of the real estate market, and Michael’s thoughts on rates.
- The characteristics of a great property management company, and how to find one.
- Understanding the role of AI in the future of property management.
Links Mentioned in Today’s Episode:
Michael Hananel on LinkedIn
Strategic Growth Real Estate
Yardi
AppFolio
ShowMojo
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Join your host, Gary Lipsky, for the special 200th episode of the Real Estate Investor Podcast! Over the past four years, we've featured amazing guests discussing a wide range of topics, including KPIs, disposition, downside protection, insurance, raising capital, business plan execution, construction management, exit plans, and much more. Our guests have included economists like Dr. Peter Linneman, lenders, lawyers, operators, and even a functional medicine practitioner because of his firm belief that health is wealth. We've also welcomed a former pro skater, a UFC fighter, a fireman, and men and women who have served our country. Tune in for this special episode featuring recaps and takeaways from the last four years of the podcast. Thanks for listening!
Key Points From This Episode:
- What’s in stall for our special 200th episode of the Real Estate Investor Podcast.
- Gary digs into some of the biggest takeaways from the podcast over the years.
- How the podcast has changed since its conception during the COVID-19 shutdown in 2020.
- Lessons learned over the past four years.
Links Mentioned in Today’s Episode:
Peter Linneman on LinkedIn
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Are you curious about how to successfully sell a property in a challenging market? In this episode of the Real Estate Investor Podcast, host Gary Lipsky of Break of Day Capital delves into the complexities and strategic decisions involved in selling a real estate deal amidst fluctuating interest rates and economic uncertainty. Gary shares his experience of opting to sell a student housing property in Tucson instead of refinancing it, detailing the meticulous process from initial consideration to closing the deal. Tune in to learn how investor feedback, market conditions, and thorough due diligence play crucial roles in making successful real estate transactions. Let’s dive into the ins and outs of selling a deal in today's market!
Key Points From This Episode:
- Current market challenges and the impact of interest rates on property values.
- The importance of investor feedback in decision-making.
- How they chose what they believed was the best option out there.
- A shoutout to everyone who helped make this deal possible.
- Background on the student housing property in Tucson at the heart of this deal.
- How to conduct extensive due diligence, including property tours and navigating city permits.
- Value-add strategies: Leasing adjustments, dividing units, and utility billing.
- Rebranding to attract the desired tenant demographic.
- Installing solar panels and its financial implications.
- Ongoing operational challenges like occupancy fluctuations and maintenance.
- The outcome: a successful sale providing solid returns for investors.
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Cost segregation is a tax deferral strategy that can be extremely beneficial for investors when done correctly. Jeffrey Shilling is a Principal Partner at Pacific Cost Segregation, and he joins us today to explain what a cost segregation company is and what it does for its clients. In this episode, you’ll learn how The Tax Relief for American Families and Workers Act of 2024 affects cost segregation, how to find the right cost segregation company to work with, how to know when it’s time for a cost segregation report, and the important cost segregation rules and deadlines to be aware of. You’ll also discover why cost segregation is the ultimate tax deferral strategy before Jeff walks us through the correlation between a cost segregation and a 1031 exchange, plus so much more! For your comprehensive guide to cost segregation, be sure to tune in today!
Key Points From This Episode:
- Jeff details his professional journey and the work that he currently does.
- The duties of a cost segregation company.
- What we can learn from The Tax Relief for American Families and Workers Act of 2024.
- How to vet and find the right cost segregation agency for you.
- Understanding when it’s the right time to push for cost segregation.
- Whether the length of time that a property is held for influences cost segregation viability.
- Cost segregation deadlines to be aware of (not to fear).
- The ultimate tax deferral strategy and other need-to-know facts about cost segregation.
- Cost segregation and 1031s.
Links Mentioned in Today’s Episode:
Jeffrey Shilling on LinkedIn
Pacific Cost Segregation
American Society of Cost Segregation Professionals
The Tax Relief for American Families and Workers Act of 2024
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
You don’t have to be the best or the smartest to succeed in the real-estate world, you just have to put your ego aside and be open to learning from those smarter than you. Today we are joined by hotelier, Matt Aitchison to discuss mindset and vision! Matt is a speaker, real estate investor, spirits investor, and podcast host who has found success through his incredible mindset. In this episode, you’ll hear all about Matt’s career, how he makes his investment decisions, where his value-add mindset came from, and why you need to be open to learning every single day. We delve into his new hospitality ventures before Matt shares why you cannot let fear hold you back. To hear all this and even learn about Matt’s likability formula, tune into the Real Estate Investor Podcast now!
Key Points From This Episode:
- An introduction to today’s guest, Matt Aitchison.
- Matt tells us about himself and what he does.
- How he got into hotels and how he decides what to invest in and when.
- Where Matt developed his value-add mindset.
- The importance of putting your ego aside and being open to learning every single day.
- Matt shares his likability formula.
- His new hospitality venture in the distillery business.
- The importance of owning something in order to achieve financial freedom.
- Why you cannot let fear hold you back.
Links Mentioned in Today’s Episode:
Matt Aitchison
Matt Aitchison Linktree
Matt Aitchison on LinkedIn
Matt Aitchison on X
Matt Aitchison on Facebook
Matt Aitchison on Instagram
Imagos Group
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
The modern investment landscape is extremely dynamic and ever-evolving. With so many options available, it’s easy for investors to get overwhelmed! Today, we are joined by Joe Fang and Adam Dresher from our Break of Day Capital Team, who return to the podcast to talk about investment funds. What are they? What are the features and advantages of fund investment? What are the best funds to invest in? Joe and Adam answer these questions and many more in this comprehensive beginner's guide to investing in funds. Tune in today for practical advice, best-practice investment strategies, and to find out about the exciting passive investment opportunities offered by Break of Day Capital!
Key Points From This Episode:
- What a fund is and well-known examples of them, including ETFs and hedge funds.
- Benefits of investing passively in a private equity real estate fund.
- Common misconceptions about passive investment in real estate.
- Finance 101: understanding the difference between debt and equity.
- Different funds offered by Break of Day Capital.
- Best-practice strategies for investors to adopt.
- How to get in touch with Joe and Adam to learn more!
Links Mentioned in Today’s Episode:
Joseph Fang on LinkedIn
Email Joseph Fang
Call Joseph Fang
Adam Dresher on LinkedIn
Email Adam Dresher
Call Adam Dresher
BODC Multifamily Impact Fund
BODC Preferred Income Fund
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
In this episode, we sit down with Brian Davis, a real estate investor, personal finance writer, and Co-Founder of SparkRental, to unpack the idea of financial independence and steps to living the lifestyle you have always wanted. Brian is a seasoned rental industry expert, driven by his passion for helping others achieve their aspirations of generating passive income. SparkRental is a comprehensive platform and resource hub for real estate investors. It aims to guide investors through the intricacies of real estate investing and provide them with the support and resources needed to succeed in their investment journey. In our conversation, we discuss his accidental path into real estate, how he founded SparkRental, and how he transitioned from active to passive investing. Discover the steps to reach financial independence, common misconceptions about it, and why you don’t need it to have your dream lifestyle. We delve into house hacking tips to reduce expenses, pragmatic strategies for generating passive income, the importance of accurately forecasting cash flow, hidden real estate costs, and more. Join us as we reframe the concept of financial independence and find out why achieving it is easier than you might think. Tune in now!
Key Points From This Episode:
- Brian's journey into real estate investing and the founding of Spark Rental.
- Hear about the evolution of Spark Rental into a co-investing club.
- Learn what financial independence is and the strategies to achieve it.
- How he helps people overcome the mental hurdles of passive investing.
- Examples of lifestyle changes that can significantly reduce living expenses.
- The Importance of accurately forecasting cash flow in real estate.
- Why understanding hidden expenses in real estate investing is essential.
- Find out how to get in contact with Brian to start your investment journey.
Links Mentioned in Today’s Episode:
Brian Davis on LinkedIn
Brian Davis Email
SparkRental
SparkRental on Instagram
SparkRental on X
SparkRental on Facebook
BiggerPockets
Inman
Best Ever CRE
REtipster
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
When it comes to investing, the Southern California (SoCal) market is the industry’s current hot topic! SoCal is a unique market and with the right investments, it can be extremely lucrative over longer periods. Anthony Walker is a master of investing in SoCal, and he joins us today in his capacity as Managing Broker and CEO of Buckingham Investments, Inc. In his tenure at the company, Anthony has presided over more than one billion dollars in sales, and he uses his gained expertise to explain the investment opportunities that await in SoCal and why this market stands out from the rest. We also discuss the role of accessory dwelling units in combating the country’s housing crisis, what Anthony wishes he knew when beginning his real estate journey, and everything you need to know to make a great investment in Southern California.
Key Points From This Episode:
- Anthony Walker’s professional background and the work he does at Buckingham Investments.
- Why Buckingham Investments is your go-to investment broker.
- Investment opportunities in Southern California, and what makes this market unique.
- Assessing SoCal’s housing crisis and the role of accessory dwelling units (ADUs).
- Everything you need to know to make a good investment in SoCal.
- The information that Anthony wishes he had when he started in real estate investing.
Links Mentioned in Today’s Episode:
Anthony Walker on LinkedIn
Anthony Walker on Instagram
Anthony Walker on X
Buckingham Investments
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Real estate may be a great investment, but like all great things, it still comes with a fair share of risk. To walk us through some methods for mitigating risk in real estate investing, we are joined once again by the multifamily and apartment investing expert, Charles Carillo. Charles is a Managing Partner at Harborside Partners and is also the host of the company’s podcast, Global Investors. In today’s conversation, we hear about what Charles learned after buying his first property, how he vets deals, markets, and sponsors, his tips and tricks for mitigating risk, and his secret recipe for success, plus much more!
Key Points From This Episode:
- Charles walks us through his background and the work he’s currently involved in.
- The biggest lessons he learned from his first real estate purchase.
- How he chooses which deals, markets, and sponsors to focus on.
- His methods for mitigating risk in real estate investing.
- The keys to his success in real estate.
- How to connect with Charles and Harborside Partners.
Links Mentioned in Today’s Episode:
Charles Carillo
Charles Carillo on LinkedIn
Charles Carillo on X
Charles Carillo on Instagram
Charles Carillo on Facebook
Harborside Partners
Harborside Partners on YouTube
Global Investors Podcast
Syndication Superstars
‘Episode #49: Working with International Investors with Charles Carillo’
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Deciding who to invest your money with is a huge undertaking and with so many people entering the field of real estate investment, it’s more difficult than ever to know if someone is the right choice for you. Today, Gary Lipsky is joined by his colleagues from Break of Day Capital, Joseph Fang and Adam Dresher, for an informative discussion on the top ten things to look for in an operator so that you can make the best possible investment choices. Join the Break of Day Capital team as they unpack each of these points and how to implement them, from the number one question you should always ask your operator to the steps that will help you determine whether they are backed by a solid management team. Find out why transparency is essential, how to ask the tough questions, why your operator should be just as invested in your financial goals as you are, and much more. Join us today to learn exactly what you should look for in an operator so that you can feel secure in your next investment decision!
Key Points From This Episode:
- An introduction to today’s topic: Top 10 Things to Look for in an Operator.
- Why you should always ask how much money an operator has invested in a deal.
- Key things you need to look for when it comes to an operator’s track record.
- How to dig in on the numbers upon being presented with a deal.
- When to ask tough questions regarding cash flow, reserves, and distributions.
- What you need to know regarding your operator’s market criteria.
- How to make sure your operator is backed by a solid management team.
- Why transparency is essential when it comes to your investments.
- How to thoroughly research an operator and do your due diligence.
- Why your operator should be just as invested in your financial goals as you are.
- Key distinctions between an operator and a syndicator.
- Learn more with the Break of Day Capital Webinar, Evaluating The Sponsor.
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Break of Day Capital Webinar: Evaluating The Sponsor
Adam Dreshser on LinkedIn
Adam Dresher email
Phone Adam on 602-529-2056
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Today on the Real Estate Investor Podcast, we are joined by Peter McKernan, a friend of the show, an investor and real estate agent in Southern California, as well as a former firefighter. In this episode, we discuss the value of leveraging the experience of others, especially if you’re nervous about jumping into your first deal, and highlight some of the key components of a successful partnership. We also take a look at California’s accessory dwelling unit (ADU) regulations, how real estate investors can benefit, tips to bring risk-averse investors around, and Peter’s retrospective advice for anyone starting their real estate journey today, plus so much more! For an informative discussion full of valuable insights, tune in today.
Key Points From This Episode:
- How Peter went from firefighter to real estate investor.
- Insight into his first deal at 27 years old, which cash flowed from day one.
- The value of partnership to help mitigate the fear that often accompanies a first deal.
- Reasons that due diligence and legal advice are key for successful partnerships.
- Benefits for investors of California’s ADU laws and regulations.
- Practical advice from Peter and Gary for dealing with risk-averse investors.
- Why Peter suggests starting your real estate journey as early as you can.
- Where you can connect with Peter online and listen to his podcast.
Links Mentioned in Today’s Episode:
The McKernan Group
Real Estate Trends and Market Updates Podcast
PFP Realty
Peter McKernan on LinkedIn
Peter McKernan on Instagram
Peter McKernan on Facebook
Peter McKernan on YouTube
Peter McKernan on X
‘Mastering Real Estate Investment Strategies with Gary Lipsky’
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Networking is more than just a few handshakes and pockets full of business cards; it’s about creating lasting, mutually beneficial relationships. For today’s impactful episode, we are in conversation with the VP of Investor Engagement at Massive Capital, K. Trevor Thompson to discuss some best practices for working with investors. Trevor has almost half a century of experience in entertainment and attractions, and he explains how that world is not so different from his work in real estate investing. We discuss Trevor’s uncanny ability to network albeit as an introvert (and with tangible results!), how he handles the demands of his work, how he measures success, and what it looks like when a real estate conference is valuable for attendees. To end, our guest walks us through the future of Massive capital, explains why 2025 may be the best time to buy in 100 years, and shares some advice for his younger self that will also benefit other aspiring investors.
Key Points From This Episode:
- K. Trevor Thompson reveals the surprising parallels between the entertainment/attractions industry and real estate investing.
- How Trevor, as an introvert, became a networking wizard.
- The way he’s managing his busy schedule and heavy workload.
- His definition of a good, worthwhile real estate conference.
- Getting into his role as VP of Investor Engagement, and how he measures success.
- The future of Massive Capital.
- Trevor’s advice to his younger self.
- Why next year may present the best buying opportunities of our lifetime.
Links Mentioned in Today’s Episode:
K. Trevor Thompson
K. Trevor Thompson on LinkedIn
K. Trevor Thompson on Instagram
K. Trevor Thompson on YouTube
Massive Capital
Earn & Learn with Real Estate Investing on Facebook
iFLY Indoor Skydiving
‘Omnipresence Live @ 12pm EST - Young Hustlers’
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
In this episode, we sit down with Michael Scherer, founder of Atlante Capital Group, to discuss the importance of affordable housing and community development in Detroit. The mission of Atlante Capital Group is to acquire, renovate, and lease clean, safe, and accessible housing solutions for individuals facing significant housing challenges. With over three decades of operational expertise spanning all facets of organizational functions, Michael serves as an advisor to multiple entities. Presently, he oversees six assets located in Metro Detroit and participates as a limited partner in various investment ventures. In our conversation, Michael explains how his extensive experience in operational management and real estate investment informs his goal to uplift communities. We discuss his mission to revitalize neighborhoods and provide clean, safe, and affordable housing options for residents, collaborative efforts with local organizations and the city, and the long-term impact he hopes to achieve. Join us as we delve into the intersection of real estate investment and community development with Michael Scherer!
Key Points From This Episode:
- Introducing Michael Scherer, Founder of Atlante Capital Group.
- Michael shares his background and his passion for investing in real estate.
- His efforts to provide affordable housing in Detroit and positively impact communities.
- The importance of affordable housing and the need for community involvement.
- Discover the potential long-term impact of providing affordable housing.
- Why engaging with various organizations to uplift neighborhoods is essential.
- How to get in contact with Michael to begin changing your community.
Links Mentioned in Today’s Episode:
Michael Scherer on LinkedIn
Atlante Capital Group
University of Michigan
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Jumping between asset classes can be tricky if you don’t know what you’re doing, but it can also give you the foundational knowledge to go on and scale at will! Todd Dexheimer is the Co-Founder and Principal of Endurus Capital as well as the Principal of VitaCare Living, and he joins us today to share his methods for scaling from $20,000 to $500 million. We learn about how Todd got into real estate and why he’s mainly focused on multifamily before diving into the challenges of changing from one asset class to another. We also discuss the non-passivity of real estate investing, Todd’s secret for having an investor commitment rate of 95%, how he navigates investor relationships, how his ski resort investment ended up being a one-in-a-million deal, and much more!
Key Points From This Episode:
- Todd Dexheimer’s background and the work that he currently does.
- How he got into real estate and why he’s mainly focused on multifamily.
- The challenges of transitioning between asset classes and what he’s learned along the way.
- Why real estate investing is not as passive as many think.
- Todd’s secret for getting investors to commit.
- How he handles investor relationships, and how he vets them.
- The story of why he invested in a ski resort.
Links Mentioned in Today’s Episode:
Todd Dexheimer on LinkedIn
Todd Dexheimer on Instagram
Endurus Capital
VitaCare Living
Pillars of Wealth Creation on YouTube
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
What if there was a loophole in the tax code that you could use to not only earn more from your real estate investments but also pay less tax? Well, you need look no further, as Brian Boyd joins us today to share some incredible real estate tax tips! Tuning in, you’ll hear all about our incredible guest’s career as a lawyer, what got him interested in real estate, how he got started, exactly how to take advantage of the tax code using a clause in the Treasury Regulation, and more! We also delve into how an investor can decide on what investment is best for them before Brian shares some tips for finding good properties. He even tells us about a tragic death that happened on one of his properties and how he handled it. Thanks for listening in!
Key Points From This Episode:
- A brief overview of Brian Boyd’s remarkable career journey.
- How to save taxes through a clause in the Treasury Regulation.
- What gives you real estate professional status in the eyes of the law.
- One thing many rich people won’t tell you: how to use the tax code to your advantage!
- Advice to help investors decide what kind of investment is best for them.
- Brian’s tips for finding really good rental properties that are worth owning.
- The story of the murder that happened on one of Brian’s properties.
- What sparked Brian’s interest in real estate and how he got started.
Links Mentioned in Today’s Episode:
Brian Boyd
Brian Boyd Linktree
Brian Boyd on LinkedIn
Brian Boyd on Facebook
Brian Boyd on X
Brian Boyd on Instagram
Brian Boyd on TikTok
Replace Your Income
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
In this episode, we delve into the intriguing journey of Adam Dresher, a former Wall Street expert who made a successful transition into the dynamic realm of real estate investing. Adam is a seasoned professional with a diverse background spanning over two decades in the financial services industry. Currently, Adam channels his expertise in real estate and plays a pivotal role in assisting clients in realizing their investment aspirations. In our conversation, Adam tells us about his previous life on Wall Street and why he decided to make the move into real estate. We delve into what makes real estate such a unique investment asset compared to stocks, leveraging the predictability of real estate, and why now is the best time to buy property. We discuss the common objections he encounters when advocating for real estate investment, his key considerations when evaluating real estate, why you should always ask the difficult questions, and the importance of vetting the operator's experience and history. He also shares invaluable lessons from his career in both Wall Street and real estate and provides details about his upcoming webinar series. Gain insights into investor relations, real estate red flags, what makes real estate the better investment, and much more! Tune in now!
Key Points From This Episode:
- Adam’s background in Wall Street and his transition to real estate.
- Discover the differences between Wall Street and real estate.
- Common objections he hears about investing in real estate.
- He breaks down his key considerations when investing in real estate.
- Why you should not hesitate to ask difficult questions.
- The qualities needed to be successful in investor relations.
- Lessons from his career on Wall Street and in real estate.
- How he is helping create a positive impact in his community.
- Details about his upcoming webinar series.
- Find out how to get in contact with Adam.
Links Mentioned in Today’s Episode:
Adam Dresher on LinkedIn
Adam Dresher Email
Call Adam Dresher - 602-529-2056
Joseph Bernard Investment Real Estate
CitySquash
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
There is so much talk of distress in the real estate world so today on the Real Estate Investor Podcast, we are getting an incredible breakdown of it from Neal Bawa. Tuning in, you’ll hear all about Neal’s career, how you can ‘do the math’ for multi-family properties in distress, a breakdown of distress and debunking of myths, and more! Our guest reminds us that bad investments are inevitable before sharing his thoughts on distress funds. Neal also believes that we will see recession-like conditions in 2024 and finally, tells us why this is a teriffic time to buy property. You don’t want to miss this incredible analysis so be sure to press play now!
Key Points From This Episode:
- A brief overview of today’s guest, Neal Bawa.
- ‘Doing the math’ for multi-family properties in distress and when the word is used incorrectly.
- Neal breaks down real estate distress and debunks some distress myths.
- A reminder that bad investments are normal in all industries.
- Neal shares his thoughts on private equity companies and operators having distress funds.
- Why he’s forecasting recession-like conditions for 2024.
- Neal tells us why this is a great time to buy property.
Links Mentioned in Today’s Episode:
Neal Bawa on LinkedIn
Neal Bawa on Instagram
Multifamily University
Episode 5: Marketing with Neal Bawa
Episode 116: Boosting Net Operating Income with PropTech with Neal Bawa
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Are you eager to get into real estate, but need help figuring out where to start? Then you won’t want to miss today’s conversation with best-selling author, speaker, real estate entrepreneur, and President of Traction Real Estate Investors Association, Tom Zeeb. His podcast, The Art & Science of Real Estate Negotiation is an indispensable resource for anyone looking to get into real estate, and today he tells us about the events that kick-started his entrepreneurial journey before sharing his foremost advice for aspiring investors. We talk with Tom about his first foray into real estate, the top mistakes he sees among his clients, and his winning strategy for overcoming one’s fear of the word “no”, taking action, and building momentum. Tune in to hear all of Tom’s hard-won insights and learn how to fall in love with the process to get the results you deserve!
Key Points From This Episode:
- An introduction to Tom Zeeb and the work that he does.
- The near-death experience that pushed Tom to break free from his 9 to 5 job.
- Tom’s first real estate investment and why it was a big mistake.
- How Tom helps investors get past their fear and start taking action.
- Why getting clients to talk to people, and overcome their fear of the word “no”, is key.
- The number one thing stopping people from getting more deals.
- Why repetition is key to getting comfortable with making deals.
- Three major mistakes that could knock you out of the business.
- How to gain momentum by setting absurdly achievable goals.
- Tom’s top negotiating tips and how to multiply your efforts.
- Where you can go to find Tom online and learn more about his work.
Links Mentioned in Today’s Episode:
Tom Zeeb on LinkedIn
Tom Zeeb on Instagram
The Art & Science of Real Estate Negotiation Podcast
Traction Real Estate Association
Traction Real Estate Mentors
Rich Dad Poor Dad
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Today we are joined, once again, by esteemed guest and friend of the show, Peter Linneman, to discuss his take on interest rates, the economy, and multifamily. In addition to being the Founding Principal of Linneman Associates, Peter is also a former Wharton professor, distinguished author, and co-creator of the highly regarded Real Estate Finance and Investment Certification Course by REFAI. We last had Peter on the show at the start of 2023 when he shared his predictions for multifamily real estate for the coming year. In today’s conversation, we take a look back at his predictions and see how they played out, before discussing the current state of the economy, interest rates, multifamily real estate, and his predictions for 2024 and beyond. Tune in to hear Peter’s eye-opening insights on The Federal Reserve’s biggest weaknesses, the data supporting an ongoing demand for multifamily real estate, why he doesn’t expect a recession any time soon, and much more!
Key Points From This Episode:
- A warm welcome back to return guest, Peter Linnemanm.
- Looking back at Peter’s predictions at the start of 2023.
- A breakdown of what he got right and what he got wrong.
- How the Federal Reserve behaved counter to what he had hoped throughout 2023.
- Peter’s thoughts on inflation and where it’s headed in 2024.
- A quick recap of multifamily performance before and during the COVID-19 pandemic.
- Peter’s predictions for multifamily in 2024 and beyond.
- The impact of NIMBYism on multifamily over the past decade.
- Taking life expectancy into consideration with multifamily predictions.
- How the decline of office real estate occupancy rates will impact banks and lenders.
- Peter’s insights on why he doesn’t predict a recession any time soon.
- A closer look at the correlation, or lack thereof, between interest rates and inflation.
- Find out where you can contact Peter and learn more about what he does.
Links Mentioned in Today’s Episode:
Linneman Associates
Peter Linneman on LinkedIn
Peter Linneman on Twitter
The Linneman Letter
Email Linneman Associates
Real Estate Finance and Investments Certification | REFAI®
SAM Elimu Charity
Episode #136: Peter Linneman – 2023 Multifamily Outlook
The Walker Webcast
The Great Age Reboot: Cracking the Longevity Code for a Younger Tomorrow
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Joseph Fang is the Director of Investor Relations at Break of Day Capital and he revisits the podcasts to share his insider’s perspective, reflections, and projections from 2023 going into 2024. Kicking things off, we share the details and challenges of closing on Icon on Spanish Trail in December 2023 and explore what is behind the lack of investor liquidity in today’s landscape. We then discuss value-add plans for the property and why we have chosen to focus on water conservation and boundary fencing before talking about the Youngtown Flats investment and where it currently stands. Join us as we take stock of the past year and look ahead to 2024; predicting changes in the market and sharing our goals for Break of Day Capital.
Key Points From This Episode:
- Welcome to Joseph Fang, Director of Investor Relations at Break of Day Capital.
- Closing on Icon on Spanish Trail at the end of December 2023.
- Why investors have a lack of liquidity in today’s environment.
- Value-add plans for the property including water conservation, fencing, and more.
- The Youngtown flats investment and where it currently stands.
- 2023 accomplishments.
- Goals and expectations for Break of Day Capital in 2024.
- Market expectations for the coming year.
Links Mentioned in Today’s Episode:
Joseph Fang on LinkedIn
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Buying property in flood zones is a daunting prospect for many investors, with high insurance premiums being the main deterrent. But there are ways to reduce insurance costs for flood zone investors, it’s all about doing your due diligence and understanding the options that are available to you. Walking us through the ins and outs of flood zone insurance is the VP of Business Development at National Flood Experts, DJ McClure. Our guest explains how he is able to get his clients huge insurance discounts, why you should always speak to a flood zone expert before walking away from a flood zone property, how the insurance policy works, and the challenges that DJ experiences in his day-to-day operations. If you’ve been eyeing a property in a flood zone or have already acquired one, this episode is for you!
Key Points From This Episode:
- Introducing the VP of Business Development at National Flood Experts, DJ McClure.
- DJ’s professional background and the work he’s currently involved in.
- His process for getting his clients lower insurance premiums in flood zones.
- Why it’s wise to seek advice from an expert like DJ before declining a flood zone property.
- How it’s possible to work with National Flood Experts even if you’ve already acquired property.
- The way DJ and his team derive their costs.
- A case study of one of his most challenging projects and how the insurance policy works.
- Everything else you need to know about saving on insurance in flood zones.
Links Mentioned in Today’s Episode:
DJ McClure on LinkedIn
DJ McClure Email
National Flood Experts
FEMA Flood Insurance
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Do you want to get into real estate investing but are worried that you don’t have enough time to juggle your job, family, personal life, and investing? Then this episode of the Real Estate Investor Podcast is for you! Today we are joined by the incredible Anthony Vigilante to discuss investing as a busy professional. Anthony is a seasoned CTO, experienced real estate investor, and investor coach, and in this episode, he tells us all about his investment journey and his passion for mentoring other people. We delve into the importance of accepting investment failures and how we can avoid them before Anthony shares his opinions on investing podcasts. He even tells us what he has planned for the rest of the year. To find out how you can balance your W2 job, other projects, family vacations, and investments, press play now!
Key Points From This Episode:
- Welcoming Anthony Vigilante and a brief overview of his background and career.
- How Anthony started investing in his 20s.
- Realizing that you’re not always going to ‘win’ in investing.
- Why Anthony loves podcasts and the potential dangers of one-sided investment stories.
- Anthony’s advice for investing in remote property.
- What our guest is working on in 2024.
- When Anthony developed his passion for mentoring and why it’s so important to him.
Links Mentioned in Today’s Episode:
Anthony Vigilante on LinkedIn
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Asset owners often feel that having insurance on their properties is enough to protect them from any liability but that is simply not the case! Today we are joined by Real Estate Syndication Attorney, Mauricio Rauld to discuss the six layers of asset protection he has created for his clients. Tuning in, you’ll hear about Mauricio’s career, why he believes having more than one layer of asset protection is imperative, why not everyone needs all six layers, and more! He then breaks down the six layers of protection before describing the importance of each and the potential ‘holes’ in them. Finally, he shares his advice about understanding your insurance policy and why he recommends getting an insurance attorney to help you. Thanks for listening in!
Key Points From This Episode:
- Introducing today’s guest, Mauricio Rauld.
- What Mauricio does and why he is a ‘recovering’ asset protection attorney.
- Why he likes his clients to have ‘layers’ of protection for asset protection.
- Breaking down the six layers of asset protection and the potential ‘holes’ in each of them.
- Layer one: free variety protection.
- Layer two: Insurance.
- Layer three: privacy, why it’s important, and some ways to secure it when buying property.
- Layer four: traditional entity structuring (like an LLC).
- Layer five: asset protection trust.
- Layer six: equity stripping.
- Why not every single asset owner needs all six layers of asset protection.
- The importance of knowing your insurance policy and potentially using an insurance lawyer.
Links Mentioned in Today’s Episode:
Mauricio Rauld on LinkedIn
Mauricio Rauld on X
Mauricio Rauld on Instagram
Mauricio Rauld on Facebook
Mauricio Rauld on YouTube
Asset Management Mastery Facebook Group
Break of Day CapitalBreak of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Today’s guest has done a remarkable job of growing his company in a very short amount of time and joins us to shed light on how he successfully managed to do this. Brandon Turner is the founder and managing member of Open Door Capital. He is also a best-selling real estate author and a past host of the BiggerPockets podcast with over 100 million downloads. Brandon has a strong track record of investing in multifamily real estate and his company currently has over $650 million in assets under management and over 1,200 investors. In this episode, he explains how he built his team, why he gave out equity, and the pros and cons of doing this. He also talks about the attributes that he looks for in potential team members whether hired or doing an internship, Open Door’s core values, and how these two things relate. To find out why Brandon is so passionate about big hairy audacious goals and his advice for anyone else who wants to go from $100 million to $1 billion in assets under management, tune in today!
Key Points From This Episode:
- An introduction to Brandon Turner and his career.
- How Brandon built his team and the different roles that he has right now.
- How he grew his company by giving out equity and the pros and cons of doing this.
- The value of unpaid internships.
- The collaborative nature of real estate investing.
- The attributes Brandon looks for in team members whether hired or doing an internship.
- Open Door’s core values, especially those of relentless improvement and no suits.
- What they are currently looking for in an asset manager.
- Brandon’s big hairy audacious goal and how it changed the way Open Door does business.
- Brandon’s advice for anyone who wants to go from $100 million in assets under management to $1 billion.
Links Mentioned in Today’s Episode:
Brandon Turner
Brandon Turner on Twitter
Brandon Turner on Instagram
The ONE Thing
Traction
Open Door Capital
BiggerPockets podcast
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
As an investor, it’s easy to get overwhelmed with the wealth of information that you’re required to sift through to make a good financial decision. It’s always wise to employ the services of a good broker, and Andrew Westling is here to explain why his firm is one of the best in the business! Andrew is a Director of Capital Markets at Walker & Dunlop, one of the largest commercial real estate finance and advisory services firms in the United States, and he is responsible for new loan originations and closings for multi-family and commercial properties nationwide. Andrew explains why having a broker is an absolute necessity in today’s market climate before detailing why many investors are apprehensive about pulling the trigger on new deals. We also discuss the effects of the Federal Reserve keeping its rates low, how Andrew weighs real estate investments against other safe options, why Walker & Dunlop is the safest bet for you, and everything you need to know about market fluctuations, lender variations, and asset class assessments in today’s lending climate.
Key Points From This Episode:
- Welcoming Andrew Westling back to the show as he briefs us on who he is and what he does.
- Why having a broker is becoming increasingly necessary in today’s capital markets.
- Assessing the current lending environment and the air of unease that surrounds investors.
- The domino effect of the Federal Reserve not raising its rates.
- Andrew’s thoughts on investing in real estate versus other safe options like the US Treasuries.
- How to find the right broker for you, and what separates Walker & Dunlop from the rest.
- Why it’s important to understand market fluctuations and lender variations.
- Our guest’s final words of advice on lending.
Links Mentioned in Today’s Episode:
Andrew Westling on LinkedIn
Walker & Dunlop
‘Episode 90: Critical Lending Environment Updates with Andrew Westling’
‘Episode 125: Managing Debt with Andrew Westling’
Mortgage Bankers Association
CBRE
Federal Reserve Board
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Striking a balance between a bullish and bearish attitude toward the real estate market is a skill that is imperative for success in multifamily real estate. In this episode of the Real Estate Investor Podcast, we are discussing the future of the market and our conversation on the multifamily panel at the recent MFIN conference. Tuning in, you’ll hear about the unknowns in the market, what our plans are for next year, the importance of investing based on where you think the market may be, and more. We even remind you that the market is unpredictable and timing it perfectly is impossible. Thanks for listening in!
Key Points From This Episode:
- The huge number of unknowns in real estate nowadays.
- What we discussed at the MFIN conference on the multifamily panel.
- When transaction flow is going to pick up.
- Our plans for next year and the importance of investing based on where things may be.
- Why you can never time the market perfectly.
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Grit is a personality trait or quality beyond talent or intelligence. It is about having the determination and resilience to overcome obstacles and stay committed to a task or objective. In this episode, we take a unique turn as we dive into the world of epic grit with special guest Clay Speakman. Clay, a distinguished entrepreneur who has navigated the complexities of building technology companies, ventured on an extraordinary 10-year journey. He conquered over 100 challenging events, including 12 ultra-marathons, the Spartan Agoge, and three 70-hour death races. In our conversation, he unveils the profound transformation he experienced through these grueling trials and shares how his epic grit philosophy can redefine success and fulfillment for anyone. We explore the power of grit, the significance of embracing challenges, how simple daily actions can transform your life, avoiding the comfort trap, and much more! Join us as we explore the boundaries of your potential and unlock the key to building lasting wealth and personal fulfillment. Tune in now!
Key Points From This Episode:
- Background about Clay and his incredible grit journey.
- How grit can be developed and maintained.
- The importance of continually challenging yourself.
- History about his company EPIC GRIT.
- Clay provides practical tips for developing a grit mindset.
- He recounts his grueling experience at Death Race.
- Finding joy in adversity to transform your mindset.
- His approach to helping entrepreneurs find their grit.
- Avoiding the trap of seeking comfort.
- Upcoming plans, including a GRIT event in Georgia.
- Clay offers final words of advice to help find your grit.
Links Mentioned in Today’s Episode:
Clay Speakman on LinkedIn
Allective
The EPIC GRIT Club on Facebook
The EPIC GRIT Club on Instagram
The EPIC GRIT Club Email
Spartan Agoge
Canadian Death Race
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
A 1031 exchange provides the opportunity of deferring taxes by swapping one investment property for another. However, the nuances of 1031s can be tricky to understand, so we’ve asked Mr. 1031 himself, Dave Foster, to join us and help explain the basics of a 1031 exchange. We discuss why the time constraints of 1031s are unattractive to investors, some solutions for deferring tax and maximizing a 1031, the costs related to 1031s, and how to overcome the challenges that may arise when investing in a 1031. We also learn about vetting 1031 intermediaries, the Delaware Statutory Trust, and the “four” D’s of 1031 investing.
Key Points From This Episode:
- Introducing 1031 expert, Dave Foster as he describes who he is and what he does.
- The basics of a 1031 exchange.
- Why the time constraints of 1031s scare many willing investors away.
- How some are forced into deals that aren’t the right fit for them.
- Solutions for deferring tax and fully utilizing a 1031.
- Assessing the costs of a 1031 exchange.
- Things that could go wrong with a 1031, and how to overcome these problems.
- How to separate good 1031 qualified intermediaries from bad ones.
- Delaware’s Statutory Trust (DST) and how it differs from standard syndication.
- The four Ds of 1031 investing: defer, defer, defer, and die.
Links Mentioned in Today’s Episode:
Dave Foster on LinkedIn
Dave Foster on Instagram
Dave Foster on X
Dave Foster on YouTube
The 1031 Investor
Lifetime Tax-Free Wealth
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Competitive sports require a certain tenacity, discipline, and focus to succeed, and it’s one of the best teachers for embracing failure. Joining us today is BMX rider-turned real estate investor, Peter Eberhardt, and he explains how he was able to buy his first property at the tender age of 21. Then, we dive into the rest of his real estate journey as he shares the lessons he’s learned by being his own handyman, why it’s best to live as close as possible to your smaller investments, how coaches and mentors are essential for leveling up, and why an athletes mindset is a helpful trait to have in the world of real estate investing.
Key Points From This Episode:
- Introducing BMX rider and real estate investor, Peter Eberhardt, as well as his backstory.
- How Peter managed to buy his first house at the age of 21.
- What came next: his real estate journey after buying his first property.
- The lessons he’s learned from being his own contractor.
- Why it’s advisable to live close to your smaller-scale investments.
- Exploring how Peter used coaches and mentors to help him level up in the game.
- How his athletic mindset helps him overcome obstacles in the investment space.
Links Mentioned in Today’s Episode:
Peter Eberhardt on Instagram
Peter Eberhardt on Facebook
Peter Eberhardt on YouTube
BiggerPockets
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Every investment is accompanied by some element of risk. Seasoned investors know this, but for many, there is still a lot of fear around economic instability, market volatility, and more. Today, Joseph Fang, Director of Investor Relations here at Break of Day Capital, returns to the show to share his big-picture take on the current macro environment, the perks of being a contrarian, the dangers of over-diversification, and what you can do to capitalize on opportunities that others might be too cautious to take advantage of. To learn more about making solid investment decisions that will help you reduce risk and alleviate uncertainty, tune in today!
Key Points From This Episode:
- Joseph’s perspective on rates and why he believes it pays to be a contrarian.
- How a little bit of math can alleviate your fears: the numbers don’t lie!
- Benefits of keeping an eye on the market (and working with really good sponsors.)
- Diworsification: why too much diversification can be a red flag.
- Gary’s takeaways from the recent IMN real estate forum in Southern California.
- Ways that the current lending environment could impact your portfolio.
- Why matching loan products to your business strategy is critical.
- Final thoughts on the power of contrarian thinking to close the show.
Links Mentioned in Today’s Episode:
Joseph Fang on LinkedIn
Information Management Network (IMN)
Multifamily Investor Network (MFIN) Conference – Discount Code: LIPSKY
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Asset Management Mastery Facebook Group
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
The entrepreneurial path is rarely a straight line, and it is often only upon reflection that you uncover the throughline beneath all the challenges and obstacles that you experienced along the way. Joining us today is Alan Underwood, a dynamic entrepreneur whose adventures range from launching a pizza chain at the tender age of 22 to navigating the stresses of managing a car dealership amidst the 2008 financial crisis. In today’s conversation, we learn about his journey into real estate, from his first two failed ventures to his now-thriving real estate company, Momentum Capital Group. Hear the fascinating story of how Alan entered multifamily real estate, the benefits of developing in California, and the strong economic drivers that led him to invest in San Diego. Alan also opens up about the despair he felt after losing his father, and how earning his pilot’s license and joining the non-profit, Angel Flight West, helped him find healing and connection. Be sure to tune in to this profound conversation that illustrates unpredictable twists of life, and uncover how determination, innovation, and a moment of serendipity can shape the entrepreneurial journey!
Key Points From This Episode:
- Get to know today’s guest, Alan Underwood, and his journey into real estate.
- Why he started a pizza chain when he was just 22 years old.
- What Alan learned from working for his dad’s car dealership.
- His decision to open up his own car dealership right before the 2008 financial crash.
- How innovation and partnerships with lenders helped them survive the recession.
- What first attracted Alan to real estate and the failure of his first two ventures.
- The fortuitous meeting that led Alan to pursue entitlement and multifamily real estate.
- What Alan considers to be the lowest point of his life: the loss of his father.
- Becoming a licensed pilot, joining GoBundance, and the impact this had on his life.
- Why Alan chose San Diego for his current and future real estate ventures.
- Details about the non-profit Alan works for as a pilot: Angel Flight West.
- Find out where you can connect with Alan online and learn about his company, Momentum Capital Group.
Links Mentioned in Today’s Episode:
Alan Underwood on LinkedIn
Alan Underwood on Instagram
Momentum Capital Group
GoBundance
Angel Flight West
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Just like anything else in life, real estate investing is filled with ups, downs, and many twists and turns. However, the real problem is when times of financial tribulation fill you with dread and feelings of inadequacy. But if you can push through those feelings and persevere through moments of doubt and financial downturns, then what awaits on the other side is a life of true financial freedom. We are thrilled to welcome Christina Suter to the show today as she explains why grit, education, and a steel mind are all you need for real estate investing success. Christina explains how her early education in finance gave her a leg up in real estate, how she steadies her mind and heart amidst failure and in times of distress, how to develop a mindset of grit and determination, and why she decided to launch her very own education platform. We also discuss the value of syndicators, why you should be prepared to purchase in the coming months, how highs and lows are inherent to the property game, and more tidbits of wisdom from the sensational Christina Suter!
Key Points From This Episode:
- Introducing real estate consultant extraordinaire, Christina Suter.
- Christina’s background, her early financial education, and what led her to real estate.
- A lesson in overcoming failure and stressful work situations.
- Why mindset matters and how to develop grit and determination.
- What drove her to launch an education platform.
- The value of syndicators.
- Christina’s summation of the possible future of the property market.
- Why you should always be ready for financial seesaws; how recessions are part of the game.
- Exploring why you should be prepared to purchase in the coming months.
Links Mentioned in Today’s Episode:
Christina Suter
Christina Suter on LinkedIn
Christina Suter on X
Christina Suter on Instagram
Christina Suter on YouTube
FIBI Pasadena
Real Estate Breakthrough Podcast
‘ITI - Discover Real Estate Success with Wes Hill!’
Bronson Hill on LinkedIn
Neal Bawa on LinkedIn
Ken McElroy
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
When it comes to investing in real estate, the decision-making process is of unparalleled importance. This is where you, as the investor, will ascertain whether to get involved in a project or look elsewhere for more viable options. To help us make sense of the decision-making process for investors, we are joined by real estate sponsor and developer, and our dear friend, Colm McEvilly. After coming from a background in mechanical engineering, Colm has since gone on to find his feet in real estate, helping multiple teams raise over $160 million in retail investor capital. In today’s episode, Colm walks us through the investor decision-making process, paying specific attention to the three biases around making decisions, how an investor gathers information, why an investor’s involvement in the decision-making process is key, and the four main categories you need to fully understand when vetting the quality of an investment. You can reach out to Colm via email with any questions or ideas that you may have, but for now, sit back, take notes, and enjoy!
Key Points From This Episode:
- A warm welcome to Colm McEvilly as he explains his background and current job role.
- Breaking down the investor decision-making process.
- Debunking results bias.
- How every decision you make is a bet – decision biases.
- Why it matters to know how investors receive information on prospective ventures.
- The third bias to be aware of: confirmation bias.
- Why you need to involve investors in the decision-making process.
- Vetting investment quality: sponsors, MSAs and asset class, the investment, and deal numbers.
- Costar reports, underwriting visibility, and other details to consider.
Links Mentioned in Today’s Episode:
Colm McEvilly on LinkedIn
Colm McEvilly on Facebook
Colm McEvilly Email
Viking Capital
IronGall Investments
The Infinity San Francisco
Neal Bawa
World Accelerator
Neighborhood Scout
GreatSchools
FormDs.com
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Welcome to this special edition of the Real Estate Investor Podcast, where we bring you everything that happened in our recent Health is Wealth webinar with Ryan Kennedy. Ryan is a functional medicine practitioner, traditional naturopath, and board-certified clinical nutritionist who helps people improve their health through lifestyle and dietary changes. In Health is Wealth, Ryan breaks down everything you need to know to improve your mental clarity, maintain good energy levels, and keep your body functioning optimally throughout the entire day. He explains the importance of starting your day the right way and how to go about it, how you can feel like a million bucks without spending a penny, and how to stay active when your work requires you to be mostly seated, plus everything you need to know for an evening routine that leads to the perfect sleep. We also learn about the dangers of pharmaceuticals, the benefits of nootropics, how to use biofeedback properly, why getting proper sleep and taking care of your soul are two essentials for a long life, and more. You’ll want to take notes for this one!
Key Points From This Episode:
- Our recent webinar with Ryan Kennedy: Health is Wealth.
- The importance of mental clarity and good energy levels in high performance.
- Why you need to start each day the right way (and why it only takes 10 minutes to do so).
- Getting high on your own supply: sunlight, mineral water, mindfulness, and exercise.
- Everything you need to know about trigger sessions: how to stay active, even at a desk job.
- The real problem with pharmaceuticals and the benefits of nootropics.
- Trigger environments: how to set up your workspace for success.
- Forming habits and making these strategies part of your identity.
- What a healthy evening routine could entail.
- The ins and outs of sleep optimization.
- Some dangers to consider when taking hormones.
- How biofeedback helps but biohacking only works once you’ve built a solid foundation.
- More tips and tricks for getting the perfect sleep and some useful devices for recovery.
- The true secret to longevity: caring for your soul!
- Why daily gratitude matters.
Links Mentioned in Today’s Episode:
Ryan Kennedy
Ryan Kennedy on LinkedIn
Ryan Kennedy on Instagram
Ryan Kennedy on YouTube
Ryan Kennedy on Facebook
Ryan Kennedy on TikTok
The Ryan Kennedy Show
Brandon Turner on LinkedIn
ChiliSleep
BodyHealth
Newcomp Analytics
MedLight 630 Pro
PlatimunLED Therapy Lights
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Most real estate investors relax once the LOI period is over but that is a huge mistake! Loads of things can go wrong between LOI and the close of the deal, and joining us today is Corey Peterson to tell us all about possible bumps in the road. Tuning in, you’ll hear all about our guest’s remarkable career, why Corey works with an attorney in certain instances, his personal LOI timeline, why you need to understand your seller’s ‘why’, and so much more! We delve into who should draw up the purchase and sell agreement before discussing how money is made in operations. Some of the best deals seasoned investors have ever done are the ones they chose to walk away from, and in this episode, Corey reminds us to know when not to close. To hear all this and even learn from our guest’s biggest investing regret, press play now!
Key Points From This Episode:
- A warm introduction to today’s remarkable guest, Corey Peterson.
- Corey tells us about his experience in real estate investing.
- What can go wrong once you sign your LOI.
- Why Corey prefers for his attorney to handle matters instead of the broker.
- Corey walks us through his LOI timeline and the 120 days he gives himself to close on a deal.
- The importance of understanding why your seller is selling.
- Why you should give your broker a purchase and sell agreement, not the other way around.
- A reminder to know when to walk away from a deal and to underwrite conservatively.
- Corey explains the concept that money is made in operations.
- How we can learn from our guest’s biggest regrets from the beginning of his career.
Links Mentioned in Today’s Episode:
Text “Book” to 480-500-1127 to get Corey’s book shipped to you for free!
Corey Peterson on LinkedIn
Corey Peterson on X
Corey Peterson on Instagram
Kahuna Investments
Copy Your Way to Success: Standing on the Shoulders of Giants
The Multifamily Legacy Podcast
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Laundromats may have the stigma of being boring, tiresome places where no one truly wants to be, but they should not be dismissed by willing investors outright, because buying into a laundromat may bring you faster returns than most real estate ventures. We are thrilled to be joined today by Jordan Berry, the Founder of Laundromat Resource, an education and community platform dedicated to current and future laundromat owners. After explaining his professional background and current job role, Jordan walks us through the key elements that helped him turn his business around, where and how to find and acquire laundromats, how prospective owners can verify their new acquisition’s income, and what a laundromat’s water bill has to do with the IRS. Be sure to join us for this intriguing conversation with Jordan Berry as we discover how to scale a laundromat, where to find help and resources for investing in laundromats, and why a laundromat should be every new investor’s first asset.
Key Points From This Episode:
- Welcoming Jordan Berry to the show as he explains who he is and what he does.
- The important lessons that Jordan has learned as a laundromat owner.
- Assessing the pivot points that helped him turn his business around.
- The best practices for sourcing and acquiring laundromats.
- Looking at demographics, and other useful tips for verifying income.
- Why the water bill is an important factor to consider when wanting to own a laundromat.
- What makes laundromats more appealing than other real estate investments.
- The magic numbers for scaling a laundromat.
- What Jordan’s company, Laundromat Resource is all about.
Links Mentioned in Today’s Episode:
Jordan Berry on LinkedIn
Jordan Berry on X
Jordan Berry Email
Laundromat Resource
Laundromat Resource on YouTube
Laundromat Resource Podcast
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
As long as people exist, the need for housing will too! Joining us today is Taylor Loht, founder of NT Capital Group and the host of the Passive Wealth Strategy show. He is here to tell us all about his experience as a fearless multifamily and self-storage investor. Tuning in, you’ll hear about his fascinating view of interest rates as an investor, why he will continue to invest even in the current climate, the importance of making informed decisions about investments based on multiple factors and not just on final business projections, and so much more! We even touch on how his investment strategy has changed over the years before our guest tells us about his favorite business books. You don’t want to miss this one so press play now!
Key Points From This Episode:
- A warm welcome to real estate investor and founder of NT Capital Group, Taylor Loht.
- What Taylor does in multifamily and self-storage investing.
- Taylor shares his nuanced view of interest rates from an investor’s perspective.
- Why Taylor is still investing at the moment.
- Our guest tells us how his personal investment strategy has changed over the years.
- The importance of looking at higher reversion cap rates than your acquisition.
- The danger of assuming a final business projection is accurate and basing investments on it.
- Taylor tells us about his favorite business-related books and why he loves them.
Links Mentioned in Today’s Episode:
Taylor Loht
Taylor Loht on Instagram
NT Capital Group
Invest with Taylor
Passive Wealth Strategy Show
Crucial Conversations: Tools for Talking When Stakes Are High
Am I Being Too Subtle?: Straight Talk from a Business Rebel
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Where does property value lie? And what are the benefits of taking such good care of your property so that it’s worth more to you than the marketplace? Joining us today to explore these questions and to break down his enlightened approach to investing in real estate is Nick Stageberg, a software tech startup veteran and founder of Black Swan Real Estate, an established firm with over 300 million assets under management. We talk with Nick about his Infinite Returns strategy, his aversion to selling, and why cultivating a long-term mindset is the best way to ensure you make wise investment decisions. Learn how Nick uses deep value-adds to ensure that his units remain in excellent condition many years down the line — when others would typically require new rounds of repairs — and why vertical integration has been such a game changer for his business. Our conversation also covers Nick’s sophisticated approach to aligning his incentives with those of his investors and why serving others, rather than yourself, is such a powerful motivator. To learn more about Nick’s approach and his many fascinating insights on investing in real estate, be sure to tune in!
Key Points From This Episode:
- Introducing Nick Stageberg, Principal at Black Swan Real Estate.
- The thesis behind Nick’s Infinite Returns strategy.
- Learn about his deep value-add approach to renovations.
- How having a long-term mindset improves your investment decisions.
- Finding motivation in serving others rather than serving yourself.
- The power of aligning your incentives with those of your investors.
- How Black Swan Real Estate uses its profits to give back to the community.
- What prompted them to become vertically integrated.
- Why they created a third-party management company.
- The benefits and efficiencies of bringing multiple services in-house.
- Insight into Nick’s attitude towards selling.
- Nick shares his predictions for the Tacoma and Rochester markets.
- How the proximity of Mayo Clinic influences the Rochester market.
- Interesting facts about Tacoma, Washington, and why it’s such a hidden gem.
- How to get in touch with Nick and Black Swan Real Estate.
Links Mentioned in Today’s Episode:
Nick Stageberg on LinkedIn
Black Swan Living
Black Swan Real Estate on YouTube
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
For many investors, getting involved in a fund is a scary prospect as they just do not have all the information that they need to make an informed decision. But if they took the time to do the research, they’d realize that funds are a great way of diversifying portfolios and they can also add a bit of stability to an investor’s cash flow. Our Director of Investor Relations at Break of Day Capital, Joseph Fang, is on the hot seat yet again to further explain the value of opening a fund, why we chose to launch our own BODC Multi-Family Impact Fund, why we strive for diversification above all else, and everything you need to know about our new fund offering. We also discuss the timeline and criteria of requirements for investing in our fund, the must-have skills for all would-be fund managers, and the ins and outs of the BODC Multi-Family Impact Fund’s first acquisition.
Key Points From This Episode:
- A Warm welcome to our Director of Investor Relations, Joseph Fang.
- Joe explains our reasoning behind our idea to launch a fund.
- Why he says that his focus is on diversification and not “diworsification.”
- The ins and outs of our brand new BODC Multi-Family Impact Fund.
- Examining the timeline and criteria required for getting involved in our fund.
- Why market expertise and a narrowed focus are necessary skills for fund managers to have.
- Exploring the BODC Multi-Family Impact Fund’s first acquisition.
Links Mentioned in Today’s Episode:
‘BODC Multifamily Impact Fund Webinar’
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
The demand for senior housing is steadily increasing across the United States. Joining us today to discuss this important trend and how to meet demand is Chris Finlay, Chairman and CEO of Lloyd Jones LLC. With a successful 43-year track record and $750 million in assets, Chris is considered a leading voice in the industry. He expresses his deep social convictions by using his expertise to uplift others and actively supports Shelters to Shutters, a non-profit organization connecting homeless individuals to housing and employment. Chris is also a member of the American Seniors Housing Association and CEO at Aviva Senior Living. In today’s conversation, he shares his insights on the world of senior living, informed by his extensive experience in the multifamily space. He shares his investment strategies and explains the unique decision to include a recruiter on every property before listing key differences to be aware of as an investor. We also touch on data, predictions for the next five to ten years of senior living investment, and how technological advancements impact the environment. Tune in today to hear all this and more!
Key Points From This Episode:
- Introducing Chris Finlay, Chairman and CEO of Lloyd Jones LLC and member of the American Seniors Housing Association.
- Three asset classes he focuses on at Lloyd Jones: senior living, multifamily, and hospitality.
- Similarities between the senior housing space and the multifamily space in 2010.
- Comparing barriers of entry in senior housing and multifamily.
- Three investment strategies that Chris follows.
- Typical returns and how they compare to multifamily.
- The unique decision to include a recruiter on every single property.
- Key differences between multi-family and senior living to be aware of as an investor.
- Why it is so critical to be a multi-operator.
- The additional oversight necessary in the senior living class.
- Predictions for the next five to ten years of senior living investment.
- How data is driving the industry.
- Technological advancements in the senior living environment.
Links Mentioned in Today’s Episode:
Chris Finlay on LinkedIn
Aviva Senior Living
American Seniors Housing Association
Lloyd Jones LLC
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
If you want to succeed in real estate, then you need to know your market. That is the firm belief of today’s guest, Agostino Pintus. Agostino has almost two decades of experience in real estate and is the Founder and CEO of Bulletproof Cashflow, where he utilizes his expertise to effectively source, negotiate, and acquire commercial properties. In addition to his work as a real estate syndicator and investor, Agostino is also a gifted speaker and serves as an invaluable resource for aspiring commercial real estate professionals. There is nothing quick or easy about succeeding in real estate, and in today’s conversation with Agostino, we hear his advice on how to navigate the industry like a pro. Tuning in, you’ll learn about the biggest mistakes made by newcomers, the benefits of focusing on one market, and why every area presents an opportunity (you just need to learn how to recognize it). Agostino offers insight on key topics, like how to reduce risk, why one should opt for a fixed mortgage rate, and how to choose the right lender, before providing a breakdown of his work in Cleveland and his preference for investing in cash flow. To hear all of Agostino’s essential lessons and takeaways, be sure to tune in today!
Key Points From This Episode:
- Get to know today’s guest Agostino Pintus.
- An overview of the three lines of business that Agostino is involved in.
- The benefits of focusing on one market.
- How Agostino is taking high and low-rise buildings and turning them into multifamily units.
- A rundown of the type of tax deals that exist in these scenarios.
- Making use of opportunity zones (OZs).
- Reducing risk and why Agostino never takes high-risk deals.
- Why your lender is your biggest partner.
- The importance of working with lenders who like the type of assets that you’re pitching them.
- Why Agostino always opts for a fixed mortgage rate.
- An outline of the multifamily real estate market in Cleveland.
- Knowing your market and learning how to recognize opportunities.
- Key advice for underwriting properly.
- Agostino’s preference for investing for cash flow.
Links Mentioned in Today’s Episode:
Agostino Pintus
Agostino Pintus on LinkedIn
Agostino Pintus on Twitter
Bulletproof Cashflow
Bulletproof Cashflow Linktree
Bulletproof Cashflow Podcast
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
We’re taking a little detour today as our very own Gary Lipsky dons the hot seat to bring you all the asset management wins currently happening at Break of Day Capital. Joseph Fang assumes the role of host and questions Gary on his exploits as a speaker and why he loves to spend his time in front of large audiences. Then, we dive into some asset management wins by taking a look at the renovations that are happening at some of our properties. We discuss some of the troubles we’re experiencing when trying to boost NOI and how they are echoed in the industry as a whole, the solar projects that are keeping us busy, why asset management is a difficult undertaking, and more tips and bits of expert advice from the vastly knowledgeable Gary Lipsky!
Key Points From This Episode:
- Joseph interviews Gary on his latest projects and what Break of Day Capital has been up to.
- Gary’s exploits as a speaker.
- Why he loves these speaking opportunities.
- Wins in asset management at Break of Day Capital, and some struggles.
- The changes we’ve made to boost NOI at certain properties.
- Solar projects that we’re busy with.
- Why asset management is no walk in the park.
- Common obstacles in modern-day asset management.
Links Mentioned in Today’s Episode:
Information Management Network
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Joseph Fang Email
Today on the Real Estate Investor Podcast, we are joined by Kathryn Schmeltz, a multifamily investor, deal sponsor, and partner at High Five Multifamily who has been buying distressed assets in the Dallas-Fort Worth area since 2013. To date, she has purchased, rehabbed, and successfully sold over 100 single-family residences and invested in over 700 units. In this episode, Kathryn offers some insight into her very first multifamily syndication deal, a distressed 103-unit in Lubbock, Texas, that she bought at 50% occupancy. Despite discovering a few more “skeletons in the closet” than anticipated, Kathryn and her partner were able to more than double their investors’ money in just a couple of years thanks to their rigorous due diligence process, a high level of communication, and a can-do attitude, all of which she highlights as keys to success. To learn more about how Kathryn achieved a massive value-add on her first syndication, tune in today!
Key Points From This Episode:
- An overview of Kathryn’s extensive experience in real estate.
- Insight into her first syndication deal, a distressed 1960s C-class at 50% occupancy.
- The importance of underwriting correctly and communicating with investors.
- Ways that Kathryn’s approach to value-add has evolved since that first deal.
- How giving back to residents and fostering a sense of pride can benefit your bottom line.
- A look at the types of community events that Kathryn likes to organize.
- Kathryn’s asset management superpower: building strong relationships!
Links Mentioned in Today’s Episode:
Kathryn Schmeltz on LinkedIn
Kathryn Schmeltz Email
High Five Multifamily
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Investing in yourself and your own business is invaluable, as is how you choose to manage your cash flow. Today, we are joined by cash flow optimization expert Dr. Howard Polansky, who reveals the secrets to unlocking financial success! Dr. Polansky is the founder of Cash Flow Coach USA, and in this episode, he shares his expertise in optimizing cash flow and financial strategies and opens up about his remarkable transition from dentist to cash flow coach, a move inspired by his son’s hospitalization. We discover why he advises against abruptly quitting a job without an adequate financial safety net and how syndication investments became his solution to stock market disillusionment. Tune in today as we discuss the importance of financial education, Dr. Polansky's vision for future investments, the power of continuous learning, and so much more! This conversation is sure to leave you inspired to optimize your cash flow and maximize your potential.
Key Points From This Episode:
- How Dr. Polansky's son's medical condition led him to reevaluate his career.
- Why he advises against abruptly quitting a job without a financial safety net.
- His decision to invest in syndications after being disillusioned with the stock market.
- The importance of a sponsor's track record and longevity in the industry.
- Predicting limited interest rate increases due to the US Government's financial constraints.
- Reasons to invest in mobile home parks, self-storage, and selective multifamily syndications.
- The value of investing in oneself and one's own business.
- How Cash Flow Coach USA helps individuals and businesses optimize the use of credit lines.
- What Dr. Polansky’s clients have achieved through his strategies.
- His vision to use freed-up funds for future investments and opportunities.
- The lack of financial education in schools and how Dr. Polansky aims to fill that gap.
- Dr. Polansky’s book and film recommendations, including Secrets of the Millionaire Mind.
- The importance of continuous learning and self-improvement.
Links Mentioned in Today’s Episode:
Cash Flow Coach USA
Dr. Howard Polansky Email
Dr. Howard Polansky Phone
Office Space
Secrets of the Millionaire Mind
James Clear
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
At the brink of a global recession, it is possible and beneficial, to choose excitement over fear. During this episode, Rod Khlief returns to the podcast to share his predictions for the future of our economy and how we can succeed in a changing climate. Rod is a top real estate and peak performance expert, multiple business owner and philanthropist. He has owned over 2000 properties and hosts the Lifetime Cashflow Podcast, with over 16 million downloads. One of the themes he speaks about weekly is mindset power; during this conversation, he offers some insights he shares there. He touches on a huge variety of topics, including how to approach a capital raise, the importance of choosing the right peer group, and why it is so important to set goals. Rod sees plenty of potential in today’s changing world and offers an inspiring perspective on making the most of every opportunity. Tune in today to hear all this and more!
Key Points From This Episode:
- An introduction to top real estate and peak performance expert, Rod Khlief.
- Problems in today’s economic climate that can be attributed to the Federal Banking system.
- Sobering claims about the future of our economy from leaders in finance today.
- Choosing to respond with excitement rather than fear.
- The goal-setting workshop that Rod offers and why it is so important to set goals.
- Defining the refinancing problem of today.
- Approaching a capital raise the appropriate way so as not to scare investors.
- Mindset, psychology, and how both themes drive Rod’s story.
- The importance of choosing the right peer group.
- Rod’s upcoming bootcamp; the only in-person event he hosts each year.
- How Gary experienced the bootcamp he attended.
- Why you might need to look in the mirror and innovate.
- The potential he sees in a changing world.
- Gary’s investments during the pandemic and how he has converted to multifamily.
- Rod’s weekly segment on mindset: Own Your Power.
- Why now is the time to educate yourself.
- The student Rod recently interviewed who has over 8000 properties today.
- Rod’s bestselling book, How to Create Lifetime Cashflow Through Multifamily Properties.
Links Mentioned in Today’s Episode:
Text LINKS to 72345
Bootcamp Promo Code: GARY
Rod Khlief
Rod Khlief Linkree
Rod Khlief on Instagram
Rod Khlief on Twitter
Rod Khlief on LinkedIn
Rod Khlief on YouTube
Lifetime Cashflow Podcast
Goal Setting Workshop
Goal Setting Worksheet
How to Create Lifetime Cashflow Through Multifamily Properties
Tony Robbins
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Opportunity Zones [OZs] have been demarcated in the interest of economic development and to attract investors to distressed parts of America. Joining us today is an OZ Fund specialist, the General Partner of Tandem Trust, and the Fund Manager of Coastal Bend OZ, John Berlet. After explaining what he does and breaking down his history as a financial planner, John defines Opportunity Zone Funds, the tax incentives and other reasons that you’d want to start one, why big construction is better for OZ Funds, and how outdated information means that some middle to high-income areas still get classified as Opportunity Zones. We learn about John’s most recent project and what he’s most excited about, before hearing about everything he’s learned as a fund manager. If you are an aspiring OZ Fund manager and would like to know what it takes, then be sure to tune in for helpful, practical examples from the wonderful and wise, John Berlet!
Key Points From This Episode:
- Introducing John Berlet: his history in financial planning and what he does now.
- The state he found to be the most advantageous for his OZ Fund during his motorhome trip.
- What an Opportunity Zone (OZ) Fund is, and a perfect example of why you want to start one.
- Why OZ Funds are best for properties that need a ton of new work or new construction.
- Exploring why some middle and high-income areas still get designated as Opportunity Zones.
- The ins and outs of the OZ project that John is currently busy with: Blue City Paraiso.
- His main responsibilities as a fund manager.
- The biggest lessons he’s learned from setting up new funds.
- Assessing the costs of a feasibility study.
Links Mentioned in Today’s Episode:
John Berlet on LinkedIn
Tandem Trust Financial
Coastal Bend OZ
Ashley Tison on LinkedIn
City of Rockport, Texas
Blue City Paraiso at Rockport
Texas Windstorm Insurance Association
Caliber
Blue zones
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Joseph Fang Email
When Powell Chee entered the real estate space, nobody could have predicted the imminent pandemic. But, far from letting this world-altering event derail his aspirations, Powell made it work for him by pivoting to self-storage! Today, Powell is the Managing Partner at Radiant Storage and a Principal at Multifamily Masters. In this episode, he shares an overview of his journey from athletics coaching to sales to real estate, how he has successfully scaled his self-storage business over the past two and a half years to the point where he has over 500 units covering 65000 square feet, what he looks for when purchasing a self-storage property (with the intention of adding value once he has purchased it), and a breakdown of the deal he recently closed in Texas after a full year of hard work!
Key Points From This Episode:
- Introducing today’s guest, Powell Chee.
- The journey that led Powell into multifamily real estate.
- Why Powell decided to enter the self-storage space.
- Similarities and differences between multifamily and self-storage.
- The average expense ratio for multifamily in comparison to self-storage.
- Criteria that Powell looks for when purchasing self-storage units.
- Powell explains how he adds value to the self-storage properties he purchases.
- How Powell’s success in scaling his business highlights the power of networking.
- Powell walks us through a deal he recently closed in Beaumont, Texas after a year of work.
- Questions that Powell recommends asking lenders before entering into a deal with them.
Links Mentioned in Today’s Episode:
Powell Chee on Instagram
Powell Chee on Facebook
Powell Chee on LinkedIn
Radiant Storage
Radiant Storage Email Address
Multifamily Masters
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
In an answer to the many questions we’ve received about what’s happening at Break of Day Capital, Gary and Joe sit down to discuss everything that the company is getting up to. You’ll come to understand why we are not fazed by our 9-month deal drought, the deals that are currently in progress, how we go about executing our vision, and what you can focus on for motivation when most of your work is done behind the scenes. For a breakdown of our recent website updates and to find out what we’ll be doing for the rest of the year, be sure to tune in.
Key Points From This Episode:
- Today, Gary and Joe discuss what we are getting up to at Break of Day Capital.
- Why we haven’t done a deal in over nine months, and why we’re not concerned about this.
- Gary sheds some light on the deals that we are close to making.
- Taking a look at execution with examples from our portfolio of assets.
- How to stay focused in an environment where most things happen behind the scenes.
- What you can expect from us for the remainder of the year.
- Joe walks us through some of the new features on our website.
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Joseph Fang Email
Note investing is an uncommon niche to choose in the realm of real estate, which is part of the reason Chris Seveney chose to devote himself to it. Chris is a real estate investor, entrepreneur, and podcast host specializing in note investing. He joins us today to share his insights on the notes business from the scale of the mortgage market to the best time to strike when it comes to note investing. In this episode, we find out how Chris left the W2 world to focus solely on real estate and hear his advice for entering the world of note investing. Tune in to discover Chris’ greatest lessons in the industry thus far, as well as which regions he chooses not to tackle and why.
Key Points From This Episode:
- Introducing real estate investor, entrepreneur, and podcast host, Chris Seveney.
- How he left the W2 world to focus solely on real estate investing.
- Why he chose to specialize in note investing.
- The lack of competition in the notes realm.
- Why it’s best to strike in times of distress when it comes to note investing.
- Chris illustrates the scale of the mortgage market.
- Which regions he is more pessimistic about for note investing and why.
- Chris’ target loan size and income bracket.
- The biggest lessons he’s learned in the notes business thus far.
- How best to get started in the note investing business.
Links Mentioned in Today’s Episode:
Chris Seveney on LinkedIn
Chris Seveney on Twitter
7e Investments
7e Investments on Instagram
Creating Wealth Simplified Podcast
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
In passive real estate investing, the right operator is vital. Joining us to discuss how to find diamond-in-the-rough operators, is Litan Yahav, a Navy veteran and tech founder, who exited his last startup eight years ago and became a full-time alternative investor. With experience in private equity, real estate, startups, and crypto, Litan built Vyzer, a startup focused on automating the management and control of alternative investments for generating wealth and passive income. Throughout the discussion, Litan talks about his journey in real estate investing, the software he developed in the diamond jewelry industry, and his preference for investing in syndications. He also sheds light on the spectrum of passiveness in real estate investments, the red flags to look out for when choosing an operator, and his predictions for the economy and investment landscape. Tune in today to find out more about the importance of investing with people you can trust and how to find them.
Key Points From This Episode:
- An introduction to today’s guest, Litan Yahav, and how he came to invest in real estate.
- The software he built while working in the diamond jewelry industry.
- How Litan got involved in investing in real estate and syndications.
- The spectrum of passiveness in real estate investing.
- Why he only invests in syndications.
- What Litan’s favorite type of operator looks like.
- Examples of major red flags when choosing an operator and the types of questions he asks.
- Litan’s predictions for the economy and investment landscape, and where he’ll be looking for opportunities.
- What Litan would do if he had $100,000 to invest right now.
- How he came up with the idea for Vyzer and what it does.
- Find out about Litan’s favorite podcast, book, and documentary.
- His advice to his younger self about stress.
- The one question he feels he should have been asked by Joe about his values.
Links Mentioned in Today’s Episode:
Litan Yahav on LinkedIn
Litan Yahav on Twitter
Vyzer
Vyzer on Facebook
Litan Yahav Email
Sam Zell
Segoma
Passive Investing from Left Field
Never Split the Difference
Seaspiracy
Formula 1: Drive to Survive
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Today, we are joined by Jay Parsons, who serves as the Senior VP and Chief Economist for RealPage. He's a frequent author and sought-after speaker on topics related to multifamily apartments and single-family rentals and has been cited in the Wall Street Journal, Bloomberg, the Financial Times, and the New York Times. In this episode of the Real Estate Investor Podcast, Jay offers his insights into market trends and consumer behavior as we discuss the US housing market shortage, nationwide rent growth, his predictions regarding interest rates in 2023 and 2024, the differences between true affordable housing and naturally occurring affordable housing, and more. For key metrics to watch and a better understanding of how technology can help you drive down costs, plus so much more, be sure to tune in today!
Key Points From This Episode:
- Jay’s take on the US housing market, which he thinks is short more than five million units.
- Why he doesn’t like the term overbuilding and what he views as the real challenge with supply.
- Rent growth in Arizona, Texas, Florida, the Midwest, and more.
- Jay’s belief that you can find success in any market with the right strategy.
- His predictions regarding interest rates for the remainder of 2023 going into 2024.
- What it means to be a “homeownership-centric society.”
- Why Jay is a supporter of what he calls targeted rent control.
- True affordable housing versus naturally occurring affordable housing (NOAH).
- Data points that Jay has been focused on and surprised by recently.
- Ways to boost ancillary revenue while also driving down expenses.
- Why Jay doesn’t believe that values will depreciate in the near future.
Links Mentioned in Today’s Episode:
Jay Parsons on LinkedIn
Jay Parsons on Twitter
RealPage
RealPage Analytics
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
After partaking in over 40 real estate investments, you’re bound to learn a thing or two! Today’s guest is the founder of Velocity Capital, Steeve Breton and he is here to tell us all about what he has learned from his vast investment experience. In this episode, you will get some insight into the patterns Steeve has seen throughout his time in this space, and find out why overpromising on returns is dangerous. Steeve shares the importance of being realistic, and how he has overcome particularly difficult obstacles. Having experience and being educated in investing is really the most effective way to ensure success and today, Steeve shares the best real estate advice he has ever received before sharing some words of wisdom of his own. Lastly, he reminds us of the importance of good partners (and spreadsheets!) To hear all this and more, tune in now!
Key Points From This Episode:
- A brief overview of today’s guest, Steeve Breton.
- Steeve shares some trends he’s seen throughout his years of investing.
- The dangers of overpromising on returns.
- Steeve tells us about a difficult obstacle he had to handle on a deal and how he overcame it.
- Why the best real estate advice Steeve ever received was to ‘only do fat deals.’
- The importance of education and experience in this industry.
- The two things Steeve tells new investors as a coach.
- Why the best ‘tool’ at Steeve’s disposal is good partners.
Links Mentioned in Today’s Episode:
Steeve Breton on LinkedIn
Velocity Capital
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Homelessness and poverty are becoming overwhelming and with the school system failing children, we are not much closer to solving the problem! Today on the Real Estate Investor Podcast, we are joined by the incredibly accomplished professional wrestler and entrepreneur, Daniel Puder to discuss the amazing impact investment program that he has created to help tackle these issues. Tuning in, you’ll hear all about what inspires him, how he became enlightened to the real issues in the world, and why money does not bring happiness. He explains why he created his leadership development program and what his goals for it are over the next decade. Finally, he shares the secret to his success: teamwork! You don’t want to miss this one!
Key Points From This Episode:
- A brief overview of today’s guest, Daniel Puder.
- Daniel shares the incredible things that inspire him and when he became enlightened.
- The best advice Daniel ever received and why making money is not going to make you happy.
- All about the leadership development work Daniel is doing with youth.
- Daniel’s goal for his impact investment over the next 10 years.
- How the right team and understanding the market’s future has been the secret to his success.
- Why Daniel prefers contract-based outcomes.
Links Mentioned in Today’s Episode:
Daniel Puder
Daniel Puder on Instagram
Daniel Puder on Twitter
MLMPI Prep Academy
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Health plays such a big role in productivity, making good decisions, and basically being at your best. Joining us today to talk about why optimum health is so important for maximum returns (even in real estate) is Joe Fang, the director of investor relations at Break of Day Capital. Tuning in you’ll hear about what inspired Joe’s health kick and why he believes so strongly that health and wealth are in synergy, before he breaks down his three most important factors for maintaining a healthy lifestyle. We talk about the circadian rhythm, time-restricted eating, and being physically active, as well as the value of alternative doctors and restricting your exposure to blue light. Tune in to find out what you could implement today to improve your health, your wealth, and your life!
Key Points From This Episode:
- Today’s topic: optimum health for maximum returns in real estate.
- An introduction to today’s guest Joe Fang and what inspired his health kick.
- How health and wealth are in synergy.
- How passive investments and syndication helped Joe explore the world of healthy living.
- Three things that the average person could do to change their life for the better, starting with being mindful of your circadian rhythm.
- The benefits of time-restricted eating.
- What it means to be physically active.
- Resources to help you manage blue light.
- The value of alternative doctors.
- Why exercising more and eating less doesn’t always work.
- Where to find more information on the principles discussed in this episode.
Links Mentioned in Today’s Episode:
Joseph Fang on LinkedIn
f.lux
Iris
Dr. Jack Kruse
Leland Stillman
Jay Montgomery
Courtney Hunt
Dr. Satchin Panda
Dr. Jason Fung
The Weston A. Price Foundation
Mark Sisson
Primal Kitchen
The Life Stylist Podcast with Luke Storey
Andrew Huberman
Dr. Joseph Mercola
Dr. Steve Lynn
The Circadian Code
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
If you want to stand out as an investor in the short-term rental market, this is the episode for you! Within 12 months of entering the real estate world, Michael Elefante and his wife had reached their goal of attaining financial freedom. Today, they are managing seven short-term rentals as well as running a coaching program (BNB Investor Academy), a property management company (Hometeam Vacation Rentals), and a design company (Somerled Designs)! Tune in today to hear about the power that lies in leveraging technology in the real estate space, the tools that Michael uses to optimize his approach to short-term rentals, the KPIs that he focuses on, and the goals that he has for the future!
Key Points From This Episode:
- The goal that attracted Michael and his wife into the real estate space (which they achieved within 12 months).
- What Michael’s working life currently consists of.
- How technology has transformed the short-term rental space.
- Michael’s favorite real estate investment tools.
- Factors that are indicative of the success (or not) of a short-term rental property.
- KPIs that Michael focuses on.
- How to set yourself apart from your competitors in the short-term rental space.
- Goals that Michael has for the future.
Links Mentioned in Today’s Episode:
Michael Elefante on LinkedIn
Michael Elefante on YouTube
Michael Elefante on Instagram
BNB Investor Academy
Home Team Vacation Rentals
Somerled Designs
The Social Wealth Podcast
AirDNA
Guesty
PriceLabs
Wheelhouse
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Today, we are joined by Mat Sorensen to learn the ins and outs of using IRAs and 401(k)s to invest in real estate and other assets. Mat is the CEO of Directed IRA, a senior partner at KKOS Lawyers, and the bestselling author of The Self-Directed IRA Handbook. In this episode, he breaks down how to raise money for real estate deals with IRAs and shares the pros and cons of doing so. Mat demystifies the QRP and explains how to qualify for a solo 401(k), before delving into the content of his acclaimed book. Tune in to find out how to make the most of your retirement fun and why you should always be chasing the best possible return.
Key Points From This Episode:
- Mat Sorensen’s specialty: using IRAs and 401(k)s to invest in real estate and other assets.
- Raising money for real estate deals with IRAs.
- How to self-direct and invest in real estate with an IRA versus a 401(k).
- The drawbacks of investing through IRAs.
- Why you should be chasing the best possible return.
- Mat demystifies the QRP.
- How to qualify for a solo 401(k).
- Mat explains the side door solo 401(k) strategy.
- The target readership for Mat’s book, The Self-Directed IRA Handbook.
- The impetus for writing the book.
Links Mentioned in Today’s Episode:
Mat Sorensen
Mat Sorensen on LinkedIn
Mat Sorensen on Twitter
Mat Sorensen on Instagram
Mat Sorensen on YouTube
The Self-Directed IRA Handbook
Directed IRA
KKOS Lawyers
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
Joining us today is Perry Zheng, the Founder and CEO of Cash Flow Portal, a company helping many real estate syndicators raise millions by making it easy to raise money, streamline operations, and reach investors to win more deals than ever before. Perry is the ultimate tech whiz and real estate guru. With over a decade of experience in top tech companies like Lyft, Twitter, and Amazon, he's a pro at managing engineering teams and creating cutting-edge software. He is also a lead sponsor for over 1,000 units in the real estate game. In our conversation, we talk about the benefits of using Cash Flow Portal and why it is a must-have for every real estate investor. We learn about his entrepreneurial journey to starting Cash Flow Portal, what makes his software different from other syndication software, and the hobby that led him to start a company. Our conversation also covers the driving force behind Cash Flow Portal and how it plans to get listed as a public offering. Hear about exciting new functions the company has planned, such as a marketplace for investors and upcoming partnerships with banks. Tune in to learn how to enhance your syndication game and hear everything an investor needs to know to save time and money with Perry Zheng!
Key Points From This Episode:
- Background about Perry and his unique set of expertise.
- Find out about Cash Flow Portal and what makes it stand out from the rest.
- How long he has been building and working on Cash Flow Portal.
- Hear about his entrepreneurial spirit and why he became interested in real estate.
- How his background as an engineer was beneficial for real estate investing.
- We discuss the skills and mindset needed for successfully running a business.
- Discover how the company has been able to grow without any marketing.
- What other features Cash Flow Portal has planned for the future.
Links Mentioned in Today’s Episode:
Perry Zheng on LinkedIn
Perry Zeng Email
Cash Flow Portal
Cash Flow Marketplace
Lyft
Y Combinator
Exportal
ChatGPT
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Today’s guest Suzy Sevier started her real estate business with her husband while they were living in Cambridge, England, and investing in Oklahoma. Suzy is a multifamily and short-term rental owner and operator, and the co-founder of Adventurous Real Estate Investors. In this episode, she shares what she has learned in her time managing assets long distance. Tuning in you’ll hear about some of the obstacles she has faced and how she overcame them. She explains what she likes about using Asana for documentation, how she got her property manager to use it too, and what other tricks or tools she uses to overcome distance. We also discuss the importance of relationships and how to hold your team accountable from far away. Tune in today to hear some of the biggest lessons that Suzy has learned from long-distance asset management.
Key Points From This Episode:
- An introduction to Suzy Sevier of Adventurous Real Estate Investors.
- What long-distance asset management is to Suzy.
- Some of the obstacles Suzy has faced in long-distance asset management and how she overcame them.
- What she likes about using Asana for documentation.
- What it has been like for Suzy to work with a property manager.
- Other tricks or tools that Suzy uses to help overcome distance.
- How she uses Asana and property management meetings to hold her team accountable.
- One of the biggest lessons that Suzy has learned from long-distance asset management.
- Why Suzy believes that her asset management superpower is relationships.
Links Mentioned in Today’s Episode:
Suzy Sevier
Adventurous Real Estate Investors
Suzy Sevier - Contact Info
Asana
Google Drive
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
We’re back with a new name, new look, and more of the same incredibly educational content with the Real Estate Investor Podcast! This episode has a little bit of a different feel as we welcome another host to the show, Joseph Fang, and delve into the reasons for changing the podcast’s name. We even look back on some of our favorite episodes and guests before hearing a bit of personal information about our incredible leader, Gary. Gary shares some phenomenal advice for young investors that he wishes he had known as a younger entrepreneur. Finally, he tells us all about his speech and the award he won at the non-profit organization, Pretend City’s event. You don’t want to miss out on the introductory episode to our new beginning, so tune in now!
Key Points From This Episode:
- Why we have decided to change the name of this podcast and what will be changing.
- Gary tells us about some of his favorite guests and the best words of wisdom they shared.
- Joseph also shares his favorite episodes with us.
- Gary shares with us what he loves doing outside of work.
- He tells us why his favorite non-real estate book is Crucial Conversations.
- Why Gary took his family to Spain and Portugal recently and what it was like.
- We learn all about Gary’s two favorite projects.
- Gary tells us what advice he would give to his younger self knowing what he knows now.
- His experience speaking at Pretend City and the award that he won.
Links Mentioned in Today’s Episode:
Episode 126 with Brandon Turner
Episode 136 with Peter Linneman
Episode 122 with Brian Burke
Episode 109 with Rod Khleif
Episode 77 with Gino Barbaro
Crucial Conversations
Pretend City
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn
While some people do strictly value-add or development, today’s guest does both! Based in Austin, Texas, Joel Fine is a general partner in 1,200 doors, including some ground-up development projects. He is also a limited partner in 17,000 doors across 15 states. Joel has been in real estate full-time for only four years. Prior to that, he was a business owner, entrepreneur, executive program manager, and engineer. In this episode, Joel explains why he does both development and value-add, the key differences between the two, and how doing both helps him diversify and mitigate risk. To find out what criteria he looks for in development projects, some of the biggest obstacles he’s faced in recent projects, and why having great partners is key to his success, tune in today!
Key Points From This Episode:
- An introduction to Joel Fine and how he got into real estate investing.
- Why Joel does both development and value-add.
- How he got comfortable moving into the development space.
- Some of the key differences between development and value-add.
- The criteria he looks for in projects on the development side.
- Some of the other metrics he looks for to determine if a project is viable.
- The two biggest obstacles Joel has been facing in his recent projects.
- Why Joel believes his asset management superpower is finding great partners.
Links Mentioned in Today’s Episode:
Joel Fine
Lakeline Properties
Joel Fine Email
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Today’s guest started her career in public health before she realized the power of real estate investing and more importantly, the power of passive real estate investing. Whitney Elkins-Hutten is now the director of investor education at PassiveInvesting.com and a partner in $800 million in real estate, including over 6,500 residential units, seven express car washes, and more than 2,200 self-storage units. Today she joins us to discuss the importance of investor education and best practices for investor relations in real estate. She also sheds light on some of the educational offerings available on PassiveInvesting.com. To gain a better understanding of the importance of developing a relationship with the investor and how to go about this, tune in today!
Key Points From This Episode:
- An introduction to Whitney Elkins-Hutten and how she got into real estate investing.
- What her role as director of investor education at PassiveInvesting.com entails.
- Whitney’s best practices for investor relations.
- Thoughts on what happens when an investor relations employee develops a relationship with an investor and then moves on.
- Why your investor relations employees need to understand your mission, vision, and values.
- Insight into the educational platform built by PassiveInvesting.com and what it offers.
- PassiveInvesting.com’s goals for 2023.
- How to find out more about Whitney and PassiveInvesting.com.
Links Mentioned in Today’s Episode:
Whitney Elkins-Hutten
PassiveInvesting.com
passiveinvestingwithwhitney.com
Multi-Family Investor Nation Conference
Multi-Family Investor Nation Podcast
Passive Investing Made Simple
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
More often than not, the team managing a project is more important than the project itself. In this episode, we are joined by the husband and wife real estate investment team, Alan and Elena Neely of Andover Holdings to find out what they look for in an asset manager. Our guests fill us in on the importance of partnering with a strong asset manager and the criteria they employ to ensure they have the best people on board. Tune in to discover the red flags to be wary of when working with asset managers, and the boundless pros of having somebody proficient fill the role.
Key Points From This Episode:
- An introduction to Alan and Elena Neely and the work they do.
- Their process of becoming general partners.
- The risk involved with owning a property management company.
- The criteria for a good asset manager.
- Alan and Elena’s long-term approach to real estate.
- An example of a positive experience working with a first-time asset manager.
- Red flags they’ve encountered working with asset managers.
Links Mentioned in Today’s Episode:
Elena Neely on LinkedIn
Alan Neely on LinkedIn
Andover Holdings
Andover Holdings Email
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
The value of your time versus the value of your returns: a statement to remember when you find yourself investing in real estate! Jerome Maldonado, a successful real estate investor and business owner, is here to discuss removing the intimidation factor and going big. As an owner and manager of both residential and commercial properties, Jerome’s wisdom on multi-use real estate allows him to give us useful predictions for 2023, and why it will be the year that value add proposition will be more profitable than new construction. You will hear about his humble beginnings in owning a concrete business, how the 2008 recession allowed him to discover adaptive reuse projects, his new and current development projects, why you need to create a good relationship with banks, and the current loan-to-cost ratio. Tune in to hear the advice Jerome would give to his younger self, and why, despite logic, there is more to lose when doing smaller deals.
Key Points From This Episode:
- A little bit about the guest, Jerome Maldonado.
- How Jerome ended up in adaptive reuse projects and investments.
- Jerome’s new development projects.
- Why he always compared the value of his time to the value of returns.
- The positives of high-interest rates.
- Two main criteria that Jerome has when purchasing new land for new construction.
- Why he compares numbers to 2019.
- The biggest obstacles he is currently facing in new construction.
- Exploring the current loan-to-cost ratio.
- Jerome’s advice for his younger self.
- Why smaller constructions are actually the same as larger ones.
- Jerome’s 2023 real estate predictions.
Links Mentioned in Today’s Episode:
Jerome Maldonado
Jerome Maldonado on Twitter
Jerome Maldonado on LinkedIn
Jerome Maldonado on Instagram
Jerome Maldonado on YouTube
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
While we do not have a crystal ball to predict what the market will be like in 2023, there are many factors that we can use to make an educated guess and give you as much information as we can. In this episode, we discuss why we believe real estate prices will lower in 2023, how operators are preparing, why deal flow will be slow, especially in the first quarter, and why we believe this period will make for a good buying opportunity. We also discuss why operators need to be in touch with economic reality before delving into what makes a good operator during times like these. Lastly, we remind you to be patient! To hear all about what we think 2023 will bring and what you should look out for, join in now!
Key Points From This Episode:
- How economic indicators have affected rate hikes.
- Why there is an indication that there will be lower real estate prices.
- What operators are doing to prepare.
- Why deal flow will be slow in Q1.
- Why this time is ultimately a great buying opportunity period.
- The importance of true reflection of economic reality.
- Why good operators stand out during times like these.
- The importance of being patient during this period.
Links Mentioned in Today’s Episode:
Episode 136 of Real Estate Asset Management Podcast
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Starting a fund is not for everybody. It is a different environment from other financial protocols and it requires a high level of specific knowledge that many have not been exposed to. Here to help us better grasp the world of funds is the Founder, CEO, and Chairman of Fairway America and Verivest, Matthew Burk. After establishing what his two companies do and what his role entails, Matt explains why more people are choosing to start funds and what you need to know when thinking about starting a fund of your own. Our guest also explores the common mistakes that new fund-runners make, the fees involved in starting and maintaining a fund, and what tax looks like in funds, as well as what due diligence encompasses. We end with more vital considerations for starting a fund, including the importance of understanding control rights, so make sure not to miss today's episode of the Real Estate Asset Management Podcast!
Key Points From This Episode:
- Matt’s professional background, his two companies, and his current role.
- Why more people are choosing to start funds in recent times.
- What you need to know before starting a fund.
- Common mistakes people make when looking to start a fund.
- A look at some of the fees involved in starting and maintaining a fund.
- All things tax and audited financial outcomes.
- Exploring due diligence: what it means and how to go about it!
- Why it’s important to understand control rights, and other vital considerations.
Links Mentioned in Today’s Episode:
Matthew Burk on LinkedIn
Matthew Burk on Twitter
Matthew Burk Fairway Email
Matthew Burk Verivest Email
Fairway America
Verivest
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
The demand for multifamily has exploded since 2020, and today we are joined by the imperial Peter Linneman to discuss what this means for 2023 and beyond. Boasting an impressive resume, Peter is the Founding Principal of Linneman Associates, a former Wharton professor, and a distinguished author, among many other traits. He gives us his take on the current multifamily conditions and how he sees these playing out in 2023, touching on the lenders’ strike, interest rates, construction costs, and the capital market. We discuss how nimbyism affects housing, why The Federal Reserve (Fed) and consumers are at war, how labor impacts construction costs, and what the housing shortfall could look like in 2023. Finally, Peter explains why COVID could be the reason for the surge in multifamily demand, what the ‘I care’ market is looking for, his most and least favored market picks for the year, and when he believes the Fed will lower interest rates.
Key Points From This Episode:
- Introducing the Founding Principal of Linneman Associates, Peter Linneman.
- Who Peter is, and what he does.
- The current multifamily market conditions and how Peter sees it playing out in 2023.
- Exploring the lenders’ strike, interest rates, construction costs, and the capital market.
- How nimbyism contributes to the shortfall in housing, and a look at housing demand.
- The war between The Federal Reserve (Fed) and consumers.
- Why construction is still projected to be higher even with the current flat interest rates.
- Peter’s forecast for the housing shortfall in the US.
- What he thinks drove the recent surge in multifamily demand.
- Why he would pull out of a build-to-rent situation, and what the ‘I care’ market demands.
- Peter’s top and bottom market picks for 2023 and beyond.
- His prediction for when the Fed will lower interest rates.
Links Mentioned in Today’s Episode:
Peter Linneman on LinkedIn
Peter Linneman on Twitter
Linneman Associates
Rockefeller Group
Real Estate Finance and Investments
The Linneman Letter
Real Estate Finance Textbook
The Great Age Reboot
Wharton
A. Alfred Taubman
SAM Elimu Charity
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Working with property management companies is a big part of real estate investment, and is also one of its biggest challenges. Many of us have seen firsthand how these relationships can go south, and avoiding these hurdles can set us on a surer path toward success. On the show today to talk about this pivotal subject is Brian Briscoe of Streamline Capital Group, and we have a fascinating look at the lessons that Brian has learned on his path so far. We also hear from our guest about his history in the military and why it made so much sense for him to move into the world of real estate after his time in the service. Brian talks about the biggest challenges in finding a good management company, and what he looks for when assessing potential partnerships. We also explore red flags, common issues, and what to do when things go wrong! So to hear it all, and boost your competency in this important area of investment, press play now!
Key Points From This Episode:
- Brian talks about his background in the military and how he made his way into the real estate game.
- The most important factors when assessing property managers.
- Property management issues that commonly arise.
- Laziness and lack of care; understanding why these issues exist in management companies.
- Brian's prioritization of a management company's leasing capabilities.
- Red flags that should not be ignored when vetting a new company.
- Best practices for communicating with a property management company; Brian's recommendations.
- Tools for accountability and the steps to take when a company drops the ball.
- Replacing companies when things are not working; reacting to problems that cannot be solved.
- Brian's asset management superpower and how he translated his experience in the Marine Corps into his current work!
- Where to find and connect with Brian online.
Links Mentioned in Today’s Episode:
Brian Briscoe on LinkedIn
Streamline Capital Group
The Tribe of Titans
Diary of an Apartment Investor Podcast
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Investors often pass on C and D class properties but if you’re willing to do the work, you can get some great returns. Returning to the show for a conversation on this subject is Guido Nunez. Guido is the founder of ChrisLina Wealth Partners. He has over 200 doors and runs The W2 Investor, a company focused on helping the everyday working professional become an investor and create passive income streams. Tuning in you’ll hear what constitutes a D class property, what Guido focuses on when he takes over one, and what has to be done to promote a D class property to a C class property. Guido talks about some of the biggest challenges that he has faced, how you can avoid making the same occupancy mistake he made, and a big lesson he learned about having high reserves. To hear about one of Guido’s biggest wins and how you may be able to achieve the same success by investing in C and D class properties, tune in today!
Key Points From This Episode:
- An introduction to Guido Nunez of ChrisLina Wealth Partners.
- Guido’s definition of what constitutes a D class property.
- What he focuses on when taking over a D class property.
- Why it’s important for the property manager to meet most of the residents.
- What has to be done to promote a D class property to a C class property.
- Some of the biggest challenges that Guido has faced when it comes to D properties.
- An occupancy mistake that Guido made and how to avoid doing the same thing.
- A big lesson he learned about having high reserves in D class properties.
- One of Guido’s biggest wins.
- Why knowing the residents really well is Guido’s asset management superpower.
- The three segments of D class properties that Guido uses when considering where to invest.
- Why Guido continues to buy D class properties.
Links Mentioned in Today’s Episode:
Guido Nunez
TheW2investor
Guido Nunez on Instagram
Episode #51: Boost Your NOI for Big Profits with Guido Nunez
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
In a climate of rising interest rates, ongoing labor issues, and inflation, today, we discuss the evolving market and how to face these challenging times. Joining us for this conversation is Jens Nielsen. Jens, originally from Denmark with a background in IT, is a direct owner or GP in over 2000 units valued at over $250 million. He is also a certified high-performance coach. When it comes to real estate, Jens focuses on underwriting, cover raising, and asset management. In this episode, he explains what he is doing to combat the rising rates and falling proceeds of the current climate and how inflation affects his deals and the properties he’s underwriting. Tune in for some insight into some of the strategies Jens is using to succeed in the current market.
Key Points From This Episode:
- An introduction to Jens Nielsen and his impressive career in real estate.
- What Jens does to combat the rising rates and falling proceeds in the current climate.
- How inflation plays into his deals and the properties that he’s underwriting.
- Other challenges that Jens and his team are facing in this market.
- His strategy for lowering or raising renewal and rental rates.
- The importance of setting expectations with the property management companies, leasing agents, and general contractos in light of the current challenges.
- Jens’s asset management superpower of setting and managing metrics.
Links Mentioned in Today’s Episode:
Jens Nielsen
Open Doors Capital
Jens Nielsen Email
Free call with Jens
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Do you need capital for your next real estate investment, but you’re not sure where to start? This is the episode for you! Today’s guest is Lindsay Lovell, cofounder of GVI Capital Management. Lindsay has a portfolio of 47 long-term rentals, 15 short-term rentals, and various other real estate investments, and today, she joins us to talk about the power of creative financing. From hard money lending to BRRRR, there are various creative financing techniques that you can use to propel your real estate career. Whether you’re just getting started or you’ve been investing for a while and your portfolio has come to a standstill, tune in today to add some of these tools to your own creative financing toolbox, so that you can grow your wealth and build a financially independent future!
Key Points From This Episode:
- A brief overview of Lindsay’s experience and GVI Capital.
- How Lindsay uses hard money loans to propel her portfolio.
- Why it's important to learn how to take calculated risks.
- A look at the numbers on a typical hard money loan for Lindsay.
- The value of making the effort to develop relationships with local banks.
- Lindsay offers some insight into her experience with BRRRRs.
- Why she cautions listeners to always read the fine print!
- Tools that Lindsay suggests to help you keep track of your different loans.
- How Lindsay makes use of virtual assistants (VAs).
- Lindsay’s asset management superpower: delegation!
Links Mentioned in Today’s Episode:
Lindsay Lovell
Lindsay Lovell on Instagram
GVI Capital Management
Stessa
QuickBooks
Who Not How
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Investing requires taking a risk, but if you don’t understand what you’re investing in, it might ultimately lead to underperforming, or worse! Our guest on the show today is passionate about helping people and aspires to be instrumental in helping investors build their wealth. Joseph Fang has been actively investing in real estate since 2003 and with a portfolio of rental properties gathered over the years, he realized how resilient real estate can be, in particular, multifamily properties when managed properly. Join us as we talk with Joe about his new role as Director of Investor Relations at Break of Day Capital, why he looks for strong operators, warning signs when to avoid investing with a sponsor, and what makes a strong operator. He shares some great insights, so make sure not to miss out. Tune in now, for all this, and more.
Key Points From This Episode:
- More about Joseph Fang and what he does.
- What his next step as Director of Investor Relations at Break of Day Capital entails.
- Joe shares an investing war story with some examples of things he’s had to navigate.
- Why he looks for sponsors who are strong operators.
- Warning signs to look for to know when not to invest with a sponsor.
- What makes a strong operator.
- More about his role at Break of Day Capital.
- What he’s most excited about as he steps into his new role.
- His investor relations superpower.
Links Mentioned in Today’s Episode:
Joseph Fang on LinkedIn
Joseph Fang Email
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
There are plenty of non-traditional paths to success and not everyone starts their real estate journey with tons of capital. Today’s guest, Glenn Gonzalez, is truly an example of what it means to work your way to the top from the ground up. Starting as a maintenance worker during college, Glenn soon found an opportunity to transition into management before becoming the proud owner of Obsidian Capital, a journey that is chronicled in his wonderful and accessible book Maintenance Man to Millionaire: Real Estate Wealth Creation for Everyday People. We talk with Glenn about what he’s learned throughout his 30-year career before hearing his advice regarding The Four P’s for Success. For key insights from a man who has hands-on experience in every aspect of real estate, make sure you tune in today!
Key Points From This Episode:
- Get to know today’s guest, Glenn Gonzalez, owner of Obsidian Capital Co.
- How Glenn got started in real estate by working as a maintenance employee.
- Glenn’s transition into management and acquiring his own property management company.
- An introduction to The Four P’s for Success: People, Product, Price, and Promotion.
- A reminder of the wealth of knowledge that your maintenance employee possesses.
- Why you need to make sure your employees are in a position that utilizes their strengths.
- Finding the balance between improving your product and how much you can charge for it.
- How to determine whether your renovations will provide an adequate return on investment.
- An overview of Glenn’s approach to pricing with current interest rates and cap rates.
- Why Glenn leaves promotion to the experts.
Links Mentioned in Today’s Episode:
Obsidian Capital
Glenn Gonzalez on LinkedIn
Email Glenn
Maintenance Man to Millionaire: Real Estate Wealth Creation for Everyday People
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
There are so many mistakes to be made in JV’ing and we want to help you avoid some of them to ensure your success in real estate asset management! Today’s guest is the incredible asset manager, mom, CEO of GoBundance Women, and retired medical sales professional, Mandy McAllister. She is here to tell us all about GoBundance, how to find the right partners through background checks, her personal business plan, what she is focusing on now, and so much more! We also discuss the differences in asset management of different types of properties from a jack of all trades. So to hear all about the importance of adaptability and management, join us now!
Key Points From This Episode:
- An introduction to today’s guest, Mandy McAllister.
- Mandy tells us why she left her W2 job and why she is excited about GoBundance Women.
- Mandy shares her goals for GoBundance with us.
- How to find the right partners, the importance of background checks, and each person’s role.
- Many tells us about her JV business plan: Buy and Watch.
- How she got involved in managing an 18-unit motel.
- The differences in asset management between short-term rentals and multifamily properties.
- What Mandy is focusing on now and why she feels she has to be adaptable.
- Why figuring out how to measure things is Mandy’s asset management superpower.
Links Mentioned in Today’s Episode:
Mandy McAllister
Mandy McAllister on LinkedIn
Mandy McAllister Email Address
Mandy McAllister on Facebook
Mandy McAllister on Instagram
Mandy McAllister on TikTok
Mandy McAllister on YouTube
GoBundance Women
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Today’s guest cut his teeth working in institutional real estate before starting his own company. As the SVP of acquisitions and asset management on roughly $3 billion worth of transactions, Mark Lively learned a lot before founding Cloudline Investments. Today he joins us to shed light on institutional asset management best practices and some of the biggest lessons he learned working in institutional real estate. Tuning in, you’ll hear about why revenue management is so commonly overlooked in small-scale real estate investments, the value of collecting and processing data to optimize it for revenue, and what the ratio of exterior cap ex versus interior cap ex should be. He explains some of the big differences between institutional real estate companies versus smaller boutique companies and sheds light on metrics that institutional investors look at when evaluating a deal. To find out more about the deals and markets that Mark is currently targeting as well as what he believes to be the best metric to look at in any deal, tune in today!
Key Points From This Episode:
- An introduction to Mark Lively, his career in asset management, and why he founded Cloudline Investments.
- The heavy value-add approach he took when working in the institutional side of real estate.
- Why revenue management is commonly overlooked in small-scale real estate investments.
- The value of collecting and processing data to optimize it for revenue.
- The differences between institutional real estate and smaller boutique companies.
- Thoughts on quantifying the ROI on paint.
- Insight into the ratio of exterior cap ex versus interior cap ex.
- Some of the biggest lessons learned working in an institutional company.
- The metrics that institutional investors look at when evaluating a deal.
- Why Mark believes that IRR is the best metric to look at in any deal
- How the IRR differs in retail customers versus institutional customers
- The deal Mark just closed and the types of deals and markets that he is currently targeting.
Links Mentioned in Today’s Episode:
Mark Lively
Cloudline Investments
Mark Lively Email
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Infinite banking is a concept that was created by Nelson Nash, whereby you can use whole-life insurance policies, that distribute dividends, to control your cash flow by setting up your own bank instead of using or relying on banks or other lenders for loans. Our guest on the show today is Chris Larsen, Chris is the founder and principal of Next-Level Income, he has been investing and imagining real estate for over 20 years. He shares more about the concept of infinite banking and how he got into it. Tune in to hear how you can get started with your own infinite banking as Chris shares insightful concepts and gives advice on where to start as a beginner. Make sure not to miss out!
Key Points From This Episode:
- More about Chris and what he does.
- What attracted Chris to infinite banking and how he utilizes it.
- How his plans and policies [with infinite banking] differ from others out there.
- How syndicators can show liquidity and net worth to lenders with infinite banking.
- Key things to look out for when shopping for the right plan/ administrator.
- What beginners should know about infinite banking, according to Chris,
Links Mentioned in Today’s Episode:
Chris Larsen on LinkedIn
Chris Larsen on Twitter
Chris’ Book
The Investment Optimizer
Next Level Income
Infinite Banking with Christopher Larsen Podcast
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Today’s guest has done a remarkable job of growing his company in a very short amount of time and joins us to shed light on how he successfully managed to do this. Brandon Turner is the founder and managing member of Open Door Capital. He is also a best-selling real estate author and a past host of the BiggerPockets podcast with over 100 million downloads. Brandon has a strong track record of investing in multifamily real estate and his company currently has over $650 million in assets under management and over 1,200 investors. In this episode, he explains how he built his team, why he gave out equity, and the pros and cons of doing this. He also talks about the attributes that he looks for in potential team members whether hired or doing an internship, Open Door’s core values, and how these two things relate. To find out why Brandon is so passionate about big hairy audacious goals and his advice for anyone else who wants to go from $100 million to $1 billion in assets under management, tune in today!
Key Points From This Episode:
- An introduction to Brandon Turner and his career.
- How Brandon built his team and the different roles that he has right now.
- How he grew his company by giving out equity and the pros and cons of doing this.
- The value of unpaid internships.
- The collaborative nature of real estate investing.
- The attributes Brandon looks for in team members whether hired or doing an internship.
- Open Door’s core values, especially those of relentless improvement and no suits.
- What they are currently looking for in an asset manager.
- Brandon’s big hairy audacious goal and how it changed the way Open Door does business.
- Brandon’s advice for anyone who wants to go from $100 million in assets under management to $1 billion.
Links Mentioned in Today’s Episode:
Brandon Turner
Brandon Turner on Twitter
Brandon Turner on Instagram
The ONE Thing
Traction
Open Door Capital
BiggerPockets podcast
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
The lending environment has taken some turns over the last few years and even within this current year. Today, we’re back again with guest Andrew Westling, who is an associate director of capital markets at Walker & Dunlop. Andrew is responsible for new loan originations and closings for multi-family and commercial properties nationwide. We delve into the current lending environment, from loan to value, acquisition market, to what’s happening in the refinance market, and what that means this all means for investors and sellers. Andrew talks about replacement value and why it’s something folks should be talking about. Don’t miss out on all this, and more, so tune in now.
Key Points From This Episode:
- A quick re-introduction of our guest, Andrew Westling.
- We discuss the current lending environment.
- Why we should be talking about replacement value.
- How they, at Walker & Dunlop, come up with replacement cost.
- What Andrew is seeing with Mezz and Pref these days (loan to value).
- He talks about the incentives around affordable housing.
- Where Andrew thinks the lending environment is going over the next six-twelve months.
Links Mentioned in Today’s Episode:
Andrew Westling on LinkedIn
Walker & Dunlop
Episode 90
CBRE
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
From rising interest rates to understanding affordability and interpreting infrastructure growth, where do you start your real estate journey? Kathy Fettke has been in the syndication world for 10 years, using that experience to help her run and build her company, RealWeath: empowering people to know how, when, and where to invest in real estate. With a passion for the economy, Kathy takes us on an economic deep dive into the past, what is happening in the present, and what Kathy thinks the future holds. Plus, Kathy explains why apartments are currently an incredible investment opportunity, real estate fundamentals, and understanding job and population growth.
Key Points From This Episode:
- What keeps Kathy busy.
- Kathy’s thoughts on the economy in the next six to 12 months
- What causes inflation and how it has affected the real estate market.
- How to prepare for the rates either increasing or decreasing.
- Understanding the increase in money within the economy.
- Why people are wanting to own hard assets.
- The way people are preparing for the recession.
- A look at affordability and then infrastructure growth.
- The growth of jobs in Texas.
- The asset classes Kathy focuses on.
- Kathy’s asset management superpower.
Links Mentioned in Today’s Episode:
Kathy Fettke
Kathy Fettke on Twitter
Kathy Fettke on LinkedIn
RealWealth
Grow Developments
Retire Rich with Rentals on Amazon
The Real Wealth Show Podcast
Real Estate News for Investor Podcast
On the Market Podcast
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
In this episode, we share the details of two new properties we are very excited about that we have recently closed on in Tucson, Arizona. Although the vintage nature of these properties scared away potential buyers, we only saw promising investment opportunities. In this episode, we walk through the processes of buying the properties and the steps we took to ensure they were wise purchases. Find out what it was about the properties that caught our attention, how we increased income from rentals, and the progress we have achieved on leasing units. You will also hear the measures we took to protect ourselves, investors, and renters from failure and how we executed our business plan effectively. To learn from experience and hear more about these properties and how we took advantage of their incredible potential, tune in today!
Key Points From This Episode:
- A brief outline of the recent deals that have been closed.
- What the big differentiator was regarding the properties purchased.
- Overview of the precautions and checks taken before closing the deal.
- Why it is essential to have capital reserves for renovations.
- Steps to take to ensure that you meet or even exceed income projections.
- A tremendous upside of buying the Dakota Canyon property.
- The value of having an efficient and reliable property management team.
- Learn why it is vital that your business plan and management team are aligned.
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Despite the volatile nature of the market, today’s guest has consistently managed to get into deals when the market was good and get out when it was even better. Brian Burke is the President and CEO of Praxis Capital, a vertically integrated real estate private equity firm that he founded in 2001. Praxis now has over $5 billion of transactional experience in multi-family real estate. In this episode, Brian explains why he has been focusing on selling instead of buying over the past few years. He believes that his asset management superpower is to recognize opportunity and his success attests to this. To find out about his predictions for the market in the next 6 to 12 months, what data he wants to see before he reenters the market, and what areas or markets he has his eye on for future opportunities, tune in today!
Key Points From This Episode:
- An introduction to Brian Burke and his career in real estate.
- Brian’s focus on selling, as opposed to buying, over the past few years.
- Insight into how much work is involved in selling a deal instead of just getting a deal.
- Brian’s predictions for the market in the next 6 to 12 months.
- What data he wants to see before he reenters the market.
- The dangerous assumptions that investors are currently making in terms of rent growth.
- Markets or areas that have changed in the last year or two that Brian is keeping an eye on.
- How Brian was able to exit properties with a decent return despite unpaid rent during the COVID pandemic.
- Brian’s asset management superpower to recognize opportunity.
Links Mentioned in Today’s Episode:
Brian Burke
Praxis Capital
The Hands-Off Investor
Episode #2: Refinancing with Brian Burke
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Today’s guest went from running a family-owned pizzeria to being one of the top mentors in multifamily investing. Join us as Gino Barbaro takes us through his 10-minute MBA, and gives us key advice on how to build your business. From defining your core values, to how to structure your business goals and meetings, this episode is a masterclass! Find out how to make your first hire less daunting, and why you should do the tasks that you don’t want to do when you first start your business. We also discuss the books that changed Gino’s life, and how he’s been inspired to write some of his own, including his latest release, the children’s book, The Cannoli’s Exploded! Now What? We hear how entrepreneurs can change the world through financial education, and about the upcoming Multifamily Mastery masterclass. Don’t miss out on this exciting episode!
Key Points From This Episode:
- An introduction to Gino, once a family-run pizzeria owner, now a successful multifamily wealth educator.
- Why you need to do the parts of the job that you don't want to do.
- How being bored motivated Gino to become an author and scale up his property management business.
- Core values: why you need to define yours.
- Find out which systems you should be implementing in your business.
- Picking priorities: setting goals and targets throughout your calendar year.
- Why it’s important to set up systems when you are still a small business.
- How to make the prospect of your first hire less daunting.
- The responsibility of entrepreneurs is to change the world through financial education.
Links Mentioned in Today’s Episode:
Gino Barbaro on LinkedIn
Jake and Gino's Website
Jake and Gino's Books
The Cannoli’s Exploded! Now What? A Story About Three Different Paths You Can Take in Life by Julia Barbaro
The MM4 Masterclass
Can't Hurt Me: Master Your Mind and Defy the Odds by Dave Goggins
The Presentation Secrets of Steve Jobs: How to Be Insanely Great in Front of Any Audience by Carmine Gallo
Vivid Vision: A Remarkable Tool for Aligning Your Business Around a Shared Vision of the Future by Cameron Herold
Asset Management Mastery Facebook Group
Asset Management Mastery
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Best in Class
With each change in administration, come new changes to the U.S. tax bill. This week’s guest on the Real Estate Asset Management Podcast is Brandon Hall, CPA and managing partner of The Real Estate CPA. In our conversation with Brandon, he breaks down some of the tax changes that have been implemented by the Biden administration thus far, what we can anticipate in the coming years, and how the changes may affect real estate investors. We talk about why S corporations will become less impactful for high income earners under the new tax bill, and how the Biden administration opted for a surtax, rather than wealth tax. Brandon discusses the rate at which bonus depreciation will be phased out, and the subsequent relevance of Cost Segregation studies. He predicts an increase in audit rates that will follow the significant budget allocation to the IRS and gives advice on how to prepare. Tune in to find out more about how the tax changes will affect the real estate industry, and how you can remain a few steps ahead and win impending audits!
Key Points From This Episode:
- Brandon’s professional background and experience.
- 2021 tax changes: effect on real estate investors.
- October 2021’s “vanilla tax bill”.
- Why S corporations will become less impactful for high income earners under the new tax bill.
- How bonus depreciation is going to phase down 20% each year from 2023, until it reaches zero.
- The relevance of Cost Segregation studies once bonus depreciation has been phased out.
- How the Biden administration opted for a surtax instead of the wealth tax.
- 2022 tax changes: billions allocated towards IRS taxpayer enforcement.
- Audit rates expected to increase from 2022.
- How the tax loss that comes from Cost Segregation could increase your audit risk.
- What causes people to lose audits, and how to win them by being organized and thinking ahead.
- Why people should take the IRS more seriously in future.
Links Mentioned in Today’s Episode:
The Real Estate CPA
The Real Estate CPA Podcast
Tax Smart Real Estate Investors Facebook Group
The Real Estate CPA on Twitter
The Real Estate CPA on Facebook
Asset Management Mastery
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Best in Class: How to Manage Your Multifamily Asset, Avoid Mistakes and Build Wealth Through Real Estate
Investing in areas you don’t live in comes with its own additional set of challenges; however, as you’ll hear in today’s episode, Bob Couture has figured out how to overcome those hurdles and make investments across the country work very well for him! Tune in today to hear from the Managing Partner of CP Property Group about what led him to enter the real estate world after deployment, why he chose to invest in properties in the New England area even though he lives in Los Angeles, and why you’re missing out if you’re not looking at the opportunities in the affordable housing sector!
Key Points From This Episode:
- Introducing Bob Couture, managing partner of CP Property Group.
- An overview of Bob’s journey in the real estate world.
- The challenges of investing in locations across the country and how Bob and his team have overcome them.
- How Bob ensures his teams are working hard, even though he only sees them once a month.
- CP Property Group’s affordable housing investment.
- The opportunities in the affordable housing space.
- Bob’s plans for expansion in the future.
- Why Bob’s parents are his superpower.
Links Mentioned in Today’s Episode:
Bob Couture Email Address
Bob Couture Phone Number: 310-922-5436
Bob Couture on LinkedIn
CP Property Group
The Build Back Better Framework
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
As we look at what the economy is currently doing, many of us in real estate are wondering about the impending recession. Is it coming? Is it here? Will it impact our businesses significantly? Today on the show, we talk to J Scott. J is a partner at Bar Down Investments, focusing on purchasing and repositioning large multifamily projects. He is also the author of five books, and his latest one, set to release soon, is called Real Estate by the Numbers. We hear from J about his take on the current economic situation, his thoughts on the impending recession, and what aspects of his business plan he’s had to make changes to as a result of where the economy sits right now. Don’t miss out on our conversation; tune in today!
Key Points From This Episode:
- More about J and what he does.
- J’s take on what is currently being seen in the economy.
- He shares his thoughts on an impending recession in the US and the effect on real estate.
- J shares what he calls “boring facts.”
- Fixed debt, bridge, or floating rates; J shares his personal philosophy on these.
- How the current economic situation has changed aspects of J’s business plan.
- We talk about his latest book.
- His asset management superpower.
- Absorption rate and what J has learned about it.
Links Mentioned in Today’s Episode:
Connect with J Scott
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Today’s guest is both the founder and CEO of an investment property management company as well as a construction company. We are joined by Shannon Robnett who sheds light on ground-up multifamily construction and the success he has reached in this segment of the real estate industry. Shannon has over 25 years of experience and has been involved from start to finish on over $350 million in construction projects. As a second-generation builder, developer, and fourth-generation realtor, he discusses the influence that his parents had on him as he grew up in an entrepreneurial home. He explains how he has managed to achieve so much success and the opportunities he continues to see in multifamily ground-up construction. Be sure to listen in to hear Shannon’s advice to anyone who wants to start building multifamily real estate and to find out why, if he could, he would tell his younger self to go to work for somebody else.
Key Points From This Episode:
- An introduction to Shannon Robnett and his upbringing in an entrepreneurial home.
- How he has built financial freedom for himself over the last decade.
- Thoughts on the question of nature versus nurture when it comes to entrepreneurship.
- Insight into Shannon’s business and the opportunities he sees for multifamily ground-up construction.
- Shannon’s sentiment on supply and building new constructions in the current climate.
- Shannon’s advice to anyone who wants to start building multifamily real estate.
- Why he would tell his younger self to go to work for somebody else.
- What's in store for Shannon over the next few years and whether or not he ever buys already built real estate.
- Shannon’s asset management superpower: realizing what he doesn't know.
- How you can find out more about Shannon Robnett and his company.
Links Mentioned in Today’s Episode:
Shannon Robnett
Shannon Robnett on LinkedIn
Shannon Robnett email
Rich Dad, Poor Dad
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Technology has a way of doing things bigger, better, and faster, and in doing so, it has the ability to disrupt established business plans, markets, and entire industries completely. Today’s guest Neal Bawa is known as the “mad scientist of multi-family” and in this episode, he warns us that if we ignore the developments in PropTech it could be detrimental to our livelihoods as real estate asset managers. He also explains that by getting ahead of the game there are a lot of expenses that can be reduced and money to be made from the innovative developments in this field. Neil is a data guru, process freak, and outsourcing expert with almost $1 billion in assets in his portfolio and 800 active investors. He is well known for his ability to apply big data, big data analytics, technological processes, and outsourcing to real estate. Listening in you’ll hear more about what PropTech is, what you can do with it today, and what you will be able to do with it in the future. To hear about some revolutionary ways to save money on real estate management, from smart vents to water leak detection devices, robots security guards, and others, tune in today!
Key Points From This Episode:
- An introduction to Neal Bawa and how he came to be known as the “mad scientist of multi-family”.
- How he applies analytics to different asset classes to figure out which are performing better at any given time.
- An introduction to what PropTech is, what you can do with it today, and what you will be able to do with it in the future.
- The power of technology to disrupt business models and why everyone should follow developments in PropTech.
- The example of smart vents to demonstrate the value of PropTech.
- Water leak devices as a way of reducing insurance costs.
- How not staying up to speed with advancements in technology can cost operators money.
- Moving robots in the place of security guards as a way to save you money.
- How PropTech can help you generate income from a pet lease.
- Technological developments that we will benefit from in the future; including 3D printing and modular construction.
- Parking machines as a solution for land shortages.
- Why Neal considers his employees in the Philippines to be his asset management superpower.
Links Mentioned in Today’s Episode:
Neal Bawa on LinkedIn
Neal Bawa on Twitter
Real Estate Asset Management Podcast Episode #5 on Buzzsprout
Multifamily University
MFIN Conference
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Today we take a look behind the scenes at what really goes into buying and selling multifamily deals. We, at Break of Day Capital, are excited to announce that we have closed on the sale of Midtown on Seneca, a property we bought in December 2020 in Tucson, Arizona. In this episode, we break down the facts and figures relating to the purchase and sale of this 76-unit property that we bought for $13.6 million and sold for $28 million in under 20 months. You’ll also hear about how we closed on the purchase of Mission Antigua, a 248-unit property we purchased for $59 million, also in Tucson, Arizona. To hear more about the business plans we’ve had for these properties, how they have changed along the way, and what obstacles we’ve had to overcome to achieve so much success, tune in today!
Key Points From This Episode:
- Exciting announcements about two property sales.
- The business plans and some of the obstacles overcome to get the Midtown on Seneca deal done.
- How Break of Day Capital assumed the loan from the seller and added a supplemental for $2 million.
- How they negotiated a credit from the seller, brought in a pref partner, and raised extra money.
- What it was like using a pref partner for the first time.
- Some of the issues that they encountered once they took over the property.
- Why they decided to pivot from the initial business plan and paint the property.
- How they brought the property to market and what it was like selling to an institutional buyer.
- The details and figures related to Mission Antigua, Break of Day Capital's latest acquisition.
- The challenge that arose when the mez lender and senior lender had an issue with the inter-lender agreement and how they resolved this.
- The business plan for this property and some of the features they will be adding.
- Closing thoughts on hard work and overcoming obstacles.
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Affordable housing is a largely overlooked niche in the real estate asset management space. Our guest today invites us to think again! Denis Shapiro started an investment club in 2019, is the founder of SIH Capital Group, and author of The Alternative Investment Almanac. His focus is primarily on affordable housing and, in this episode, he spills some enlightening affordable housing secrets! We discover the important distinction between affordable housing and workforce housing, as well as the unique underwriting process for the former. Denis explains what small market rent arbitrage is and how it works, and how to control expenses in the early stages of an affordable housing deal. Tune in for this eye-opening and informative episode on the tremendous opportunity available in the largely neglected affordable housing market!
Key Points From This Episode:
- Introducing Denis Shapiro, Founder of SIH Capital Group and author of The Alternative Investment Almanac.
- Denis shares his real estate investment journey.
- Why he chose to focus on affordable housing.
- The important differentiation between affordable housing and workforce housing.
- The underwriting process for affordable housing.
- The biggest expenses Denis was able to bring down on a recent affordable housing deal.
- What small market rent arbitrage is and how it works.
- The tremendous opportunity available in the affordable housing market.
- The prioritization of affordable housing by Fannie Mae and Freddie Mac mandates.
- Denis’ asset management superpower: networking.
Links Mentioned in Today’s Episode:
Denis Shapiro
SIH Capital Group
The Alternative Investment Almanac
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Site visits are a key component of multifamily asset management that can often be overlooked. Today on the podcast, we are joined by Dave Childers, a Managing Member of Residential Investment Advisors (RIA) and Cedar Rock Capital, based in Nashville, Tennessee. Dave has been investing in real estate for over 17 years and started the brokerage just over a decade ago to fill an industry void in assisting private investors with the purchase and sale of multifamily properties. In this episode, Dave shares his years of expertise with us as we discuss the critical importance of site visits, what to look out for, and how it can be beneficial to build good relationships with your property management teams, plus so much more! You won’t want to miss this informative episode.
Key Points From This Episode:
- What Dave looks for when doing a site visit (and why he likes showing up unannounced).
- The value of walking vacant units and buying assets that are easily accessible.
- Why it’s beneficial for Dave to be based in Nashville, Tennessee.
- Your responsibility to conduct site visits as an owner: set the bar high for your managers.
- The importance of building good relationships with your onsite property managers.
- Dave shares his superpower: he has been an onsite manager himself!
- Some red flags to look out for when conducting a site visit.
- How site visits ensure that you (and your tenants) are getting what you pay for.
Links Mentioned in Today’s Episode:
David Childers on LinkedIn
Call Dave Childers
Residential Investment Advisors (RIA)
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
In real estate investment, it’s easy for operators to make big and costly mistakes when it comes to capital expenditures (CapEx). Someone with unique insight into this is today’s guest Jorge Abreu. Jorge has been investing in real estate for over 15 years. He is a qualified electrical engineer and is responsible for founding and building a construction company that brings in over $30 million in yearly revenue while still growing. Jorge and his company, Elevate Commercial Investment Group, currently have almost 7,000 doors and $450 million under management. In this episode, you’ll hear about some of the key things that someone without a background like Jorge’s may miss when walking a property. To find out what mistakes operators typically make when it comes to CapEx and how Jorge has changed his CapEx strategy with the rise in interest rates, tune in today!
Key Points From This Episode:
- An introduction to Jorge Abreu and his career in construction and real estate investing.
- What led him to study electrical engineering and start a construction company.
- Some of the key things that someone without a background in construction or electrical engineering may miss when walking a property.
- Some of the mistakes operators typically make when it comes to CapEx.
- How inflation adds to the uncertainty of whether or not you have enough for CapEx.
- How Jorge has changed his CapEx strategy with the rise in interest rates and the softening of pricing.
- What kinds of projects Jorge targets when factoring in his CapEx.
- The hardest deal that Jorge has ever had to work through at the start of COVID and how he was able to pivot.
- Jorge’s asset management superpower.
- How to find out more about Jorge’s business, Elevate Commercial Investment Group.
Links Mentioned in Today’s Episode:
Jorge Abreu
Jorge Abreu’s Email
Elevate Commercial Investment Group
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Garzella Group
Welcome to the Real Estate Asset Management Podcast! Today, we are joined by author, investor, property owner, and commercial real estate coach, Darin Garman! To start off this episode, we hear Darin’s story of coming from nothing (neither money nor experience) to building a company that mitigates the stress of its clients, all while being in the process of raising its deductibles and ensuring blanket coverages. Darin gives us advice on property cost surges and the main reasons for the property cost increase: property tax, property-casualty insurance, and cost of labor. Plus, we learn about why you should not chase the IRR, how to combat and understand the increase in inflation rates, and his take on how to deal with expenses outpacing income. With over 30 years of experience and 5 books under his belt, Darin’s advice is not to be missed!
Key Points From This Episode:
- A welcome to today’s guest, Darin Garman!
- Darin’s background of starting out with nothing.
- A look at the motivation behind Darin’s books.
- Chatting about property cost surges, relating specifically to the inflation rate increase.
- Three main areas of property cost increase:
- One: property tax.
- Two: property-casualty insurance (14% to 16% per multifamily community).
- Three: cost of labor.
- How Darin’s company is raising their deductibles, ensuring blanket coverage, and coverage for roofs.
- Darin’s thoughts and concerns on expenses outpacing income.
- Why you should not chase the IRR.
- The mitigated stress of working with an experienced operator.
- Darin’s asset management superpower.
Links Mentioned in Today’s Episode:
Darin Garman
Darin Garman on Twitter
Darin Garman on LinkedIn
Darin Garman on Facebook
Darin Garman on YouTube
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Garzella Group
It’s no surprise that doing deals during current times is not for the faint of heart. This episode is full of thoughts, tips, and insights to help you navigate your way through real estate investing in the present moment. Tuning in, you’ll hear why if you’re buying, you should make sure your loan is locked at this time, and if you are selling and you’re not able to lock in huge gains, you may want to wait another year or longer. The consensus among top investors is that there is an opportunity coming, so to find out what types of opportunities you should be looking for, when we can expect interest rates to come down, and why strong asset management is more important than ever, as well as some other helpful advice, tune in today!
Key Points From This Episode:
- Today’s topic: Why doing deals during these current times is challenging.
- Why you should make sure your loan is locked if you’re buying at this time.
- Why, if you are selling and you’re not able to lock in huge gains, you may want to wait another year or longer.
- How the consensus among top investors is that opportunities are on the way, and some predictions.
- When we can expect interest rates to come down.
- Why bridge debt is attractive right now.
- Why now, more than ever, is the time for strong asset management.
- Closing words of advice to not bite off more than you can chew, and a quote from Warren Buffett.
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Garzella Group
Welcome back to another episode of the Real Estate Asset Management podcast!
Today's podcast guest, Rod Khleif, and host Gary Lipsky talk about seizing opportunity in the current real estate environment and what we can expect as it moves forward.
About Guest :
Rod Khleif is a multiple business owner and philanthropist passionate about business, high performance, real estate, and giving back. As one of the country's top real estate and peak performance luminaries. He has also owned over 2000 properties.
Key Points From This Episode:
Current real estate environment and what we can expect
How to prepare for upcoming opportunities
Rod’s upcoming Bootcamp
How to overcome common real estate fears
What's coming for asset management
What a less experienced operator needs to be aware of
How to provide a quality customer experience.
How to take advantage of upcoming opportunities
Tweetables:
“They need to take ownership of the quality of the customer experience.
And boy, you better be all over that. You better be mystery shopping. You better be checking on, you know, do surveys of your tenants, ask them what they think, and look for the critical feedback, you know? You'll get good feedback, but look for the critical feedback, see, who they love, see who didn't treat them well, and deal with it immediately.”{ Rod Khleif}
“When work orders do you have, are you responding? You know, are you following up with your tenants immediately to make sure they're thrilled? What can you do to build a culture at your asset so that people don't wanna leave, you know, make it a family-type thing and focus on that right now.”
{ Rod Khleif}
“Well, what you teach asset management is going to be critical in what's coming. Okay. If you don't run a tight ship where you're staying on top of your KPIs, you know, on your metrics on a weekly basis, maybe even biweekly right now, paying attention to what's going on, paying attention to the competition, what are they marketing at?”{ Rod Khleif}
Follow us:
✅ Join our group for the latest updates – https://tinyurl.com/mhp5t6 ⠀
✅ LinkedIn - https://www.linkedin.com/company/break-of-day-capital/
- https://www.linkedin.com/in/gary-lipsky/
✅ YouTube - https://www.youtube.com/c/BreakofDayCapital
✅ Instagram - https://www.instagram.com/breakofdaycapital/
Today’s Show Sponsor :
Garzella/Multifamily Risk Advisors https://garzellagroup.com/
Today's podcast guest Jason Pero and host Gary Lipsky talk about pivoting to boost NOI. Pivoting is one of the most important skills in real estate investing and it's not just for entrepreneurs and startups. Whether you're a seasoned investor or just getting started, pivoting is essential to your success.
Key Points From This Episode:
1. On which property we should focus
2. Real-Time Pivot
3. Pivoting Structures
4.How to communicate challenges to investors who expect a return on their investment
5.How to deal with stressful asset management
6.How to motivate your team
7.How to handle setbacks and curveballs in your underwriting so you can pivot
8.KPIs for a successful pivot
9.How to deal with difficult situations
_______________
Tweetables:
it's just knowing what we're getting into, so it can be stressful. But at the same time, I think if you have a plan and you communicate clearly and have a motivated team, you know, it'll get done. I think, for me, In this deal, owning the management company has a set of challenges, but I think that's where we add the value if it was a third-party company. {Jason Pero}
When you said, you know, being on offense versus being defense, you know, being proactive, you know, that's so important, having the cash reserves and the wherewithal to make that pivot and not, and, not wait for things to get hope for things to get better, because that's not, this is, you know, this is like you said, this is, you know, big boy business. It's not, you can't just wait, and, and, and sit back and, and hope. {Gary Lipsky}
Follow us:
✅ Join our group for the latest updates – https://tinyurl.com/mhp5t6
✅ LinkedIn - https://www.linkedin.com/company/break-of-day-capital/
https://www.linkedin.com/in/gary-lipsky/
✅ YouTube - https://www.youtube.com/c/BreakofDayCapital
✅ Instagram - https://www.instagram.com/breakofdaycapital/
Today’s Show Sponsor :
Garzella/Multifamily Risk Advisors https://garzellagroup.com/
Hello and welcome to the 107th Episode of the Real Estate Asset Management Podcast! Building a Financial Backbone with Ben Lapidus.
Ben is the Chief Financial Officer for Spartan Investment Group LLC, where he has applied his finance and business development skills to construct from scratch a portfolio of over $500M assets under management, build the corporate finance backbone for the organization, and organize over $200M of debt capital from the firm.
Key Takeaways :
- Let's take a deep dive into the entrepreneurial journey with Ben Lapidus
- How did Ben get into data?
- What was it like to build a system like this?
- Discussion on Netsuite and Hedgehog Principle
- The custom-built real estate accounting tool
- How Data Integrity allows us to go faster and be more transparent with investors and stakeholders
- Acquisitions, capital markets, accounting, and finance experiences
Tweetables:
” Jim Collins hedgehog principle is to find something that overlaps with three components of your life.
Something that you're the best at, something that you be a category of one at, something that you really enjoy doing.
You're passionate about, which isn't always the same as being, the best at and three something that's economically viable, something that you can make money with”
Follow us:
✅ Join our group for the latest updates – https://tinyurl.com/mhp5t6 ⠀
✅ LinkedIn - https://www.linkedin.com/company/break-of-day-capital/
https://www.linkedin.com/in/gary-lipsky/
✅ YouTube - https://www.youtube.com/c/BreakofDayCapital
✅ Instagram - https://www.instagram.com/breakofdaycapital/
Today’s Show Sponsor :
Garzella/Multifamily Risk Advisors https://garzellagroup.com/
Our guest today is Mauricio Rauld, Founder and CEO of Premier Law Group, a premier boutique securities law firm where he also acts as one of the syndication attorneys who help real estate syndicators to raise the capital to pursue their dreams of financial independence. As a nationally recognized expert on private placements, he works with elite entrepreneurs who seek to increase and protect their wealth through syndications. Mauricio specializes in Reg D exempt offerings and educates investors from around the world on how to navigate the complex world of securities laws. He is also a regular contributor to The Real Estate Guys™ Radio show (consistently one of the most downloaded podcasts on real estate investing) and is Robert Helms’ advisor.
Key Points From This Episode:
*Mauricio shares takeaways from his last week's "Real Estate Syndicator Live" related to new and current accredited investor rules updates and new SEC definitions & what's coming pipeline.
*SEC Expands Definition of Accredited Investor
He says “SEC" has already passed a final rule (2020) expanding the definition of Accredited Investor, allowing individuals to get certified by passing an exam.
The Problem is, as of today, no one has yet been certified to award these Accredited examinations and so we continue to wait for the SEC to release the Certified companies and what exactly the requirements will be.”
Recent rumors in the SEC circles have the SEC increasing the current $1,000,000 net worth requirement. A recent Bloomberg headline insinuated that the level could be as high as $10,000,000.
His thoughts are that an eventual increase by the SEC makes sense. The original $1,000,000 threshold was passed in 1982 and adjusted for inflation, this number is closer to $3,000,000 today.
Mauricio more talks about DO’S & DON'Ts about funds of funds (FOF), to be aware of investor advisory rules, and different state exemptions rules.
He shares more information on 1031 & limitations on the tax side as per the IRS Revenue procedure code.
Tweetables
“It's not the state where your investors are located, it's not the state your LLC is set up in, it's where you technically advise your funds, usually its state where you reside…….. ”
@Mauricio_Rauld
“Big one is that You must distribute the profits from the venture proportionately if your 1031 investor owns 10% of property & syndicator owns 90% you can’t do preferred returns …………”@Mauricio_Rauld
Today’s Show Sponsor :
Garzella/Multifamily Risk Advisors https://garzellagroup.com/
Welcome back to another episode of the Real Estate Asset Management podcast!
The conversation today centers around the current multifamily environment.
Gary talks about the best time to invest in real estate & how to get good deals in this high level of unpredictability of stock market fluctuations, the 24 hours news cycle, interest rates, and rising inflation. To a lot of investors out there, don't follow the data, don't follow fundamentals. It's a scary truth.
He talks more about how they (Break Of Day capital) invest in submarkets that they know well with low cost of living, tremendous rent growth predicted, a strong job market, and still a ton of value to be added to these properties. It's not a city where everything has been picked over.
Real estate is a great hedge against inflation. As inflation rises, so do property values and the rent owners can charge. Now, you can't expect the same rentals they have been experiencing, and still may get it in the best markets, but it's better to discount it quite a bit when you underwrite it.
Gary shares value-add information on current deals & how real estate offers great tax benefits & makes a good amount of profits.
Be sure to like and subscribe to our podcast so you don’t miss another episode!
Key Points From This Episode:
Tweetables:
If you're an investor, do your due diligence on operators you wish to invest with because it's not about IRR or even cash flow. Picking an operator that has adjusted their underwriting for the softer curve, if they're using floating debt, a good fixed rate, or a higher average cap on their underwriting, extra working capital, and in areas of high population growth are very important. { Gary Lipsky}
Real estate also is a hard asset. If we don't make our prediction or an analyst doesn't meet an analyst prediction for the second quarter in our proforma, our value doesn't go down 25% like a stock. We just keep creating more value by executing our business plan, that's why I love real estate.{ Gary Lipsky}
It starts with finding good deals underwriting conservatively, creating a strong business plan, getting good debt and executing that business plan. That's what good operators do during all phases of the cycle. { Gary Lipsky}
About the host:
Gary has been a real estate investor since 2002, with over 2500 units under management and a $102 million AUM. Gary is also a co-founder of the Asset Management Summit and the Real Estate Asset Management Podcast, as well as a co-author of the book Best in Class. His secret sauce is his asset management competence, which he began cultivating at an early age.
Follow us:
✅ Join our group for the latest updates – https://tinyurl.com/mhp5t6 ⠀
✅ LinkedIn - https://www.linkedin.com/company/break-of-day-capital/⠀
- https://www.linkedin.com/in/gary-lipsky/
✅ YouTube - https://www.youtube.com/channel/UCSgABJxxi_6yrWq875pkS9w
✅ Instagram - https://www.instagram.com/breakofdaycapital1/
Today’s Show Sponsor :
Garzella/Multifamily Risk Advisors
https://garzellagroup.com/
Links Mentioned in Today’s Episode:
Asset
Hello, and welcome we are back with another episode of the Real Estate Asset Management Podcast! Your positive feedback has been so wonderful to hear, from the very beginning. I am super excited to have Randy Langenderfer share how he dealt with a fire on his first GP deal in the first month of ownership! He shares the process of finding his first deal, the challenges and tribulations that came with the fire, and how they changed the onsite manager to help the property rise from the ashes.
Key Points From This Episode:
- How did Randy find his first deal?
- How did Randy manage to fix the issue of the property which is on fire?
- Asset Management Superpower
Break of Day Capital offers the chance for others to invest in real estate with experts who are aligned with their goals. Be sure to go to our website www.breakofdaycapital.com and fill out an investor application so that you can learn about our latest offerings.
Full podcast –
Be sure to like and subscribe to our podcast so you don’t miss another episode!
About the host:
Gary has been a real estate investor since 2002, with over 2500 units under management and a $102 million AUM. Gary is also a co-founder of the Asset Management Summit and the Real Estate Asset Management Podcast, as well as a co-author of the book Best in Class. His secret sauce is his asset management competence, which he began cultivating at an early age.
About Our Guest:
Randy is President of InvestArk Properties, LLC focusing on creating investor value and passive income returns for the busy professional. He has been in multi-family real estate since 2014 as both a general partner/key principal in 700 doors and a limited partner in over 4,000 doors. InvestArk offers the busy professional, who wants to include multi-family in their portfolio, an opportunity to partner with experts who are aligned with their investment goals.
Follow us:
✅ Join our group for the latest updates – https://tinyurl.com/mhp5t6⠀
✅ LinkedIn - https://www.linkedin.com/company/break-of-day-capital/⠀
https://www.linkedin.com/in/gary-lipsky/
✅ YouTube - https://www.youtube.com/channel/UCSgABJxxi_6yrWq875pkS9w
✅ Instagram - https://www.instagram.com/breakofdaycapital1/
Today’s Show Sponsor:
Garzella/Multifamily Risk Advisors
https://garzellagroup.com/
Hello and welcome to the 103rd episode of the Real Estate Asset Management Podcast! Your positive feedback has been so wonderful to hear, from the very beginning. Today’s episode will discuss and do the due diligence on sunbelt states.
Key Points From This Episode:
- Q1 data and report
- What are the constraints for multifamily investors to hold for long-term investment?
- Why invest in sunbelt states
- What is Triple P
- where are cap rates headed
- Asset Management Superpower
Break of Day Capital offers the chance for others to invest in real estate with experts who are aligned with their goals. Be sure to go to our website www.breakofdaycapital.com and fill out an investor application so that you can learn about our latest offerings.
Full podcast –
Be sure to like and subscribe to our podcast so you don’t miss another episode!
About the host:
Gary has been a real estate investor since 2002, with over 1900 units under management and a $65 million AUM. Gary is also a co-founder of the Asset Management Summit and the Real Estate Asset Management Podcast, as well as a co-author of the book Best in Class. His secret sauce is his asset management competence, which he began cultivating at an early age.
About Our Guest:
Andrew Rybczynski is a Principal Consultant at CoStar Advisory Services, where he makes recommendations on investment in commercial real estate. Andrew frequently speaks and writes on the Multifamily property type and has been published in the Journal of Portfolio Management. His work is often referenced in national media outlets such as WMRE, The Washington Post, and the New York Times. He has a background in data and spatial analytics and uses these tools to provide data-driven research for both clients and the wider market.
Follow us:
✅ Join our group for the latest updates – https://tinyurl.com/mhp5t6⠀
✅ LinkedIn - https://www.linkedin.com/company/break-of-day-capital/⠀
https://www.linkedin.com/in/gary-lipsky/
✅ YouTube - https://www.youtube.com/channel/UCSgABJxxi_6yrWq875pkS9w
✅ Instagram - https://www.instagram.com/breakofdaycapital1/
Today’s Show Sponsor:
Garzella/Multifamily Risk Advisors
https://garzellagroup.com/
Hello and welcome to the 102nd episode of the Real Estate Asset Management Podcast! Your positive feedback has been so wonderful to hear, from the very beginning. Join us today as we discuss various asset management strategies with the founder of MainStreet, Patrick Grimes. Not only will we understand the concept in detail, but also learn from Patrick, various lessons and mistakes we can avoid making, by hearing his personal experiences in the Real Estate Industry.
Key Points From This Episode:
✅ Welcome to the 102nd episode of our podcast
✅ About our guest
✅ How to find a distressed asset?
✅ Tenet and landlord relationships
✅ What exactly is Due Diligence?
✅ Finding value in otherwise ignored properties
✅ Mistakes we can avoid
✅ Lessons learned from the market
✅ Asset Management Superpowers
✅ Investment opportunities on MainStreet
Break of Day Capital offers the chance for others to invest in real estate with experts who are aligned with their goals. Be sure to go to our website www.BreakofDayCapital.com and fill out an investor application so that you can learn about our latest offerings.
About Our Guest
Patrick Grimes is the CEO and Founder of Invest on Main Street with holdings that include general partner ownership of a multifamily real estate portfolio valued at over $146M, including 1,950+ units across the southeastern United States and Texas.
About the host
Gary has been a real estate investor since 2002, with over 1900 units under management and a $65 million AUM. Gary is also a co-founder of the Asset Management Summit and the Real Estate Asset Management Podcast, as well as a co-author of the book Best in Class. His secret sauce is his asset management competence, which he began cultivating at an early age.
Full podcast –
Be sure to like and subscribe to our podcast so you don’t miss another episode!
Follow us:
✅ Join our group for the latest updates – https://tinyurl.com/mhp5t6⠀
✅ LinkedIn - https://www.linkedin.com/company/break-of-day-capital/⠀https://www.linkedin.com/in/gary-lipsky/
✅ YouTube - https://www.youtube.com/channel/UCSgABJxxi_6yrWq875pkS9w
✅ Instagram - https://www.instagram.com/breakofdaycapital1/
Today’s Show Sponsor:
Garzella/Multifamily Risk Advisors
https://garzellagroup.com/
Hello and welcome to the 101st Episode of the Real Estate Asset Management Podcast! Your positive feedback has been so wonderful to hear, from the very beginning. Today’s podcast focuses on how one can produce massive income with effective asset management in Multifamily Real Estate with Jason Yarusi, Founder - Yarusi Holdings. Our esteemed guest shares his valuable knowledge about the various factors that are involved in the process of income boosting such as having a strong foundation and thorough knowledge of your area of interest.
Key Points From This Episode
- Components to boost income
- Fixing the infrastructure to eventually increase income
- Importance of having a strong foundation
- Why one should only focus on one area at one time
- Incentivizing the team on hyperfocus
- Asset Management Superpower
Break of Day Capital offers the chance for others to invest in real estate with experts who are aligned with their goals. Be sure to go to our website www.breakofdaycapital.com and fill out an investor application so that you can learn about our latest offerings.
Be sure to like and subscribe to our podcast so you don’t miss another episode!
About Our Guest
Jason is an active Real Estate Syndicator and Real Estate Investor. Jason and his wife Pili founded Yarusi Holdings, a multifamily investment firm with over 1100 units acquired since 2016. The firm repositions properties through operational efficiencies, moderate to extensive renovations, and complete rebranding.
Linkedin - https://www.linkedin.com/in/jason-yarusi-08b9a426/
About the host
Gary has been a real estate investor since 2002, with over 1900 units under management and a $65 million AUM. Gary is also a co-founder of the Asset Management Summit and the Real Estate Asset Management Podcast, as well as a co-author of the book Best in Class. His secret sauce is his asset management competence, which he began cultivating at an early age.
Links Mentioned in Today’s Episode:
Follow us:
✅ Join our group for the latest updates {Asset Management Mastery Facebook Group} – https://tinyurl.com/mhp5t6⠀
✅ LinkedIn - https://www.linkedin.com/company/break-of-day-capital/⠀ https://www.linkedin.com/in/gary-lipsky/ ✅ YouTube - https://www.youtube.com/channel/UCSgABJxxi_6yrWq875pkS9w ✅ Instagram - https://www.instagram.com/breakofdaycapital1/ ✅ Website - www.breakofdaycapital.com
✅ Garzella Group Today's Show Sponsors:
{Garzella/Multifamily Risk Advisors} - https://garzellagroup.com/
Hello and welcome to the 100th Episode of the Real Estate Asset Management Podcast! Your positive feedback has been so wonderful to hear, from the very beginning. Join us today as we look back on 99 amazing episodes with memorable guests who shared golden nuggets from their wealth of wisdom. We touch on the topics that we’ve interviewed experts about, from mega leasing and economies of scale with Neil Boa, to cap rate compression with Andrew Rybczynsk, and more, including a 20 minute MBA from Gino Barbaro. There’s always something to be learned from revisiting our podcasts, and the basics of asset management we guide you through are designed to be useful, even to beginners. The basis of everything? You need a MAP: measure everything, stay accountable, and be proactive in all your endeavors. Thanks for joining us.
Key Points From This Episode:
- Welcome to the 100th episode of our podcast.
- How great it is to receive positive feedback from our listeners along the way.
- Thoughts on value ad strategy from Episode 17.
- What Neil Boa taught us about mega leasing and economies of scale.
- Merrill Kaliser’s thoughts on the importance of having KPIs on Episode 10.
- Andrew Rybczynsk from Costar’s thoughts on cap rate compression from Episode 73.
- The story of how Episode 77’s guest, Gino Barbaro, gave us all a 20 minute MBA.
- Bridge loans versus fixed loans with Andrew Westling on Episode 90.
- Nikolai Ray’s financial engineering expertise communicated on Episode 92.
- Appreciation for all of our amazing guests and the wealth of knowledge they shared.
- What you can learn from revisiting our podcasts.
- The easy basics of asset management that can be of use to a beginner.
- Why it is important to go the extra mile even if you have a property management company.
- Why you need a MAP: measure everything, stay accountable, and be proactive.
- Where to go to keep informed about future opportunities with Break of Day Capital.
Tweetables:
“I know I’ve learned a bunch from our amazing guests from Brian Burke, Maureen Miles, Tim Bratz, Anna Myers, Brendan Hall, Mina Jetty, Gene Trowbridge, Jeremy Roll, Jason Yarusi, Michael Becker, Danny Randazzo and so many more.” — Gary Lipsky [0:52]
“There are a lot of good property management companies with great people but they aren’t owners of that property, what makes you think they’ll go the extra mile if you aren’t. People make mistakes, you know? I’ll admit, I make mistakes so don’t expect your property management team to be perfect as well.” — Gary Lipsky [04:40]
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Garzella Group
Today’s podcast focuses on educating operators on how to become the best in their class by building better systems. Today’s guest is Warren Dresner, who has over 20 years of multi-regional experience in the finance, insurance, and real estate sectors and is a Co-Founder and team member at Equity Yield. Warren’s expertise is focused on deal management, deal execution, and project management, and began investing in real estate in 2010. In today’s podcast we find out more about Warren and his expertise, the lessons he learned from using institutional capital, the importance of forming relationships, and more! Tune in for practical advice that you can use for your next investment with Warren Dresner!
Key Points From This Episode:
- Warren’s background and what he does.
- Details about Warren’s first real estate investment.
- Why Warren chose institutional capital from the start.
- The importance of developing strategies early on.
- Gary and Warren briefly discuss different types of equity.
- Some of the lessons that Warren learned using institutional capital.
- Find out what Warren would do differently if given another chance.
- What makes Warren stand out from others.
Tweetables:
“Institutional capital is not for every deal. It was useful for us that we knew the appetite of these institutions in advance of finding the deal because this private equity gets a bad rap in the market.” — Warren Dresner [6:42]
“The biggest lesson is, find a product that fits their appetite, and that’s going to set you on a path for success. Otherwise, it’s going to set you up for failure.” — Warren Dresner [7:22]
“You’re now in a deal with them for five or six years, and you need to have an ongoing relationship. If you mess up on the operational side, some of these players can be ruthless. They can take the deal away from you.” — Warren Dresner [7:55]
Links Mentioned in Today’s Episode:
Equity Yield Group
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Garzella Group
Transitioning from small units to bigger ones can seem like a daunting venture, but my guest on today’s show, Lee Yoder, is here to tell you why it’s actually the best decision for you and your business! Lee, who is the founder and CEO of THREEFOLD Real Estate Investing, began his real estate journey with a single duplex, and has methodically worked his way up to his biggest investment to date; a 96 unit in Southwest Ohio. During our discussion today, Lee shares why he has found it easier to manage the 96 unit property than the other 45 and 47 unit properties he currently owns, why networking is a key to success in the real estate industry, and the superpower that makes him stand out!
Key Points From This Episode:
- The type of real estate that Lee Yoder’s company, THREEFOLD, invests in.
- Challenges that Lee faced when he was managing smaller units than he is now.
- Why having a person fully dedicated to one property is so beneficial.
- Lee explains why he is likely to still go after 40 to 100 unit properties, even though that isn’t the space he ideally wants to be in.
- Factors which encouraged Lee to transition to investing in bigger properties.
- Advice that Lee would give his younger self if he could.
- Lee’s superpower in the asset management space!
Tweetables:
“As soon as we got the 96 [unit], we were like, “Wow, this is what everybody’s talking about with economies of scale.” Maintenance requests get answered quicker because the guy’s there so tenants are happier. Units get filled quicker because somebody’s there that can show it at any time.” — Lee Yoder [05:38]
“Management wise, operations wise, I never want to own anything less than a hundred units again.” — Lee Yoder [06:26]
“The bigger you get, the more vacancies are okay because three out of a 100, you are 97% occupied, that’s great.” — Lee Yoder [11:40]
Links Mentioned in Today’s Episode:
THREEFOLD Real Estate Investing
Lee Yoder on LinkedIn
Lee Yoder on Facebook
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Garzella Group
No, this episode doesn't contain any ghosts or haunted houses – but you might wish it did. Today's guest is K. Trevor Thompson, who has a 50-year career as a highly successful VP, has invested in 17 deals as an LP, and most recently, a GP on a 240-unit in San Antonio. But early on in his career, he joined as a Limited Partner on a 170-unit deal that quickly turned into a nightmare. Join us as he shares his struggle to keep the property afloat, despite the numerous poor financial decisions surrounding this deep value ad that was way off-budget, running out of money, and dealing with the struggles of workforce housing in the middle of COVID. We discuss the gross mislabeling of the asset class of the property, a reality that was impossible to rectify or rebrand, and some proactive solutions he found in trying to support the tenants amid some truly dangerous situations. From repeated mismanagement that resulted in their CapEx essentially pouring down the drain, to having his life and the lives of his family threatened, this horror story is straight off of Elm Street. To hear about these hard-won lessons on underwriting, and the top advice that he has to share so that you can be spared a learning curve like this, tune in today!
Key Points From This Episode:
- Introducing Trevor and how he jumped into real estate investing.
- Some backstory on how he got involved in a particular deal that didn't go as planned.
- Trevor describes the dire situation when he finally saw the property and the books.
- Talking about how many operators don't take asset management seriously.
- The importance of hiring a competent asset management team.
- Looking for someone to blame versus taking responsibility and plotting a way out.
- How the situation was exacerbated when COVID hit.
- His attempts to be proactive and provide solutions for the tenants during a tough time.
- Hear the dangerous events that undermined their attempts to build an image of safety.
- Some of the awful mistakes they made and shortcuts they tried to take.
- How they eventually sold it and broke even.
- Trevor shares his advice to LP investors on what to look out for!
- Hear his asset management superpower around incremental improvements.
Links Mentioned in Today’s Episode:
K. Trevor Thompson on LinkedIn
Email K. Trevor Thompson
Niagara Investments LLC
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Best in ClassGarzella Group
We all have different investment styles, and we feel it’s important to learn about the motives behind various approaches. Our guest today certainly has a more bearish approach than our bullish take on things, and today, he talks us through his thought processing when it comes to committing to an investment. Jeremy Roll started investing in real estate in 2002, and in 2007, he left the corporate world to become a full-time passive cash flow investor. He is the President at Roll Investment Group, the co-founder of For Investors by Investors, and is an advisor for Realty Mogul. In this episode, Jeremy shares his greatest concerns, pertaining to the current multi-family market, and his data-driven approach to risk assessment. We find out why he is sitting on the fence when it comes to regular multi-family investments in the current climate, which opportunities he feels comfortable seizing, and when he might dive back into his principal field of interest (namely, multi-family). We discuss the effects of the impending increase in interest rates and inflation, as well as population migration and cap rate adjustments over time. Tune in to find out what will happen in the case of a recession, how to ensure you have enough padding if things go south, and so much more!
Key Points From This Episode:
- Introducing Jeremy Roll and the work he does.
- How Jeremy became a passive cash flow investor.
- What he bases his biases on when it comes to asset classes and markets.
- What his greatest concerns are, pertaining to the current multi-family market.
- Why he predicts an increase in interest rates and what that means for multi-family investors.
- The true inflation percentage and the likelihood of rapid property devaluation.
- Why Jeremy is taking a bearish approach to investing in 2022.
- How rent prices in Arizona are being adjusted according to inflation.
- Why you should take population migration into consideration and analyze specific markets.
- The three tiers of opportunities Jeremy is comfortable with investing in at the moment.
- Why Jeremy invests in ATM machines.
- Where his interest truly lies in terms of asset classes.
- Under what conditions Jeremy will dive back into regularly investing in multi-family.
- Predictions of cap rate adjustments.
- What generally happens in the case of a recession.
- The effects of a lack of liquidity on the lending side.
- An example of how to ensure padding if things go south.
Links Mentioned in Today’s Episode:
Jeremy Roll on LinkedIn
Jeremy Roll Emal
For Investors by Investors
Realty Mogul
Ken McElroy
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Best in Class
Garzella Group
Fund management and asset management are two completely different beasts. Joining us today to help educate us on the former is Jennifer Joyce, Owner of JJ Capital Investments. Jennifer has over 20 years of real estate experience, is the fund manager for a 100-million-dollar fund through the Global Housing Assistance Fund, and is a GP on over 1,300 units. In this episode, Jennifer talks us through the intricacies of fund management based on her experience. We find out why her fund is exclusive to multifamily, how long it took to launch, and the criteria her fund allocation is based on before she explains how your resume is cleared the moment you start a fund and why you need to rebuild your fund-specific track record to land family office investments. We also discover why this particular fund is open-ended and what her long-term goals for it are, as well as the reason behind its close resemblance to the direct asset syndication model. Tune in for another insightful episode and some succinct advice for those looking to start a fund of their own!
Key Points From This Episode:
- Jennifer Joyce’s background and how she got to where she is today.
- Why the 100-million-dollar fund Jennifer manages is exclusive to multifamily.
- The unique tax-related service the fund offers at the end of each year.
- Jennifer’s fund allocation criteria.
- How long it took to launch the fund.
- How fund management differs from asset management.
- What family offices want to see before writing a check.
- How your track record resets when you start a fund.
- Why Jennifer’s fund model closely resembles the direct asset syndication model.
- The long-term goal for the fund.
- Advice for starting a fund: don’t do it alone!
- Under which two sole conditions you should start a fund.
- Jennifer’s asset management superpowers: her history and KPIs.
Tweetables:
“We want to have more than one strategy for opportunities on the property if we’re going to look at buying it, because that’s where the cash flow comes from and the upside when you sell or cash out or refi.” — Jennifer Joyce [5:12]
“Your resume really starts over when you start a fund. It doesn’t matter that you’ve owned 13 properties. It matters how many the fund owns. [Family offices] actually reset the clock on you if you start a fund.” — Jennifer Joyce [7:15]
“Only choose to do a fund if you want to build a corporation or go institutional yourself.” — Jennifer Joyce [10:14]
Links Mentioned in Today’s Episode:
Jennifer Joyce on LinkedIn
JJ Capital Investments
CBRE
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Best in ClassGarzella Group
Lead generation and conversion for residence is a crucial part of your inbound marketing strategy and building your tenant base, but many people still struggle with achieving their desired results in this area! In today's episode, Gary sits down with his good friends Cody Laughlin and Brian Alfaro to talk through everything you need to know about cultivating successful lead generation (otherwise known as lead gen). Cody is a real estate entrepreneur and thought leader with over 10 years of real estate investing experience. Brian is a real estate entrepreneur and Houston business owner, and together they are managing partners of Blue Oak Capital. Their mission is to create people-first communities with investor-first performance, so get ready as they share their seasoned formula for generating leads, filling the funnel, and getting the most bang for your buck by getting those conversions. Brian shares some great questions to keep you on top of the metrics and some top tool recommendations to create that big funnel, all while keeping your eye on that end conversion goal. You'll hear about some common mistakes people make and an important reminder that often a property manager may be great at managing the property but could lack the skillset when it comes to generating leads. We also discuss the importance of customer service and KYT (know your tenant), and the huge difference that identifying your specific avatar and their asset class can make. To hear the lead tracking scope and schedule that will keep you at the top of your lead gen game, join us today!
Key Points From This Episode:
- Cody and Brian introduce themselves and how they each found their entry to real estate.
- Why people aren't always very good at tracking lead generation.
- Hear about their rebranding process after takeover.
- Some of the tools they use to monitor and measure conversions.
- How being a good property manager, and generating leads aren't synonymous.
- The importance of having a big funnel and monitoring your progress weekly.
- Brian shares some great questions to keep you on top of the metrics.
- Getting specific on the type of avatar and how to target that end user.
- Using the acronym KYT to differentiate asset classes and where they'd be looking.
- Cody describes the role of the member of the team assigned to lead gen and tracking.
Links Mentioned in Today’s Episode:
Brian Alfaro on LinkedIn
Cody Laughlin on LinkedIn
Blue Oak Capital
Blue Oak Capital on Facebook
Blue Oak Capital on Instagram
Email Blue Oak Capital
Cody Laughlin on Twitter
The Prosperity Through Multifamily Real Estate Investing Podcast
Rich Dad, Poor Dad
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Best in Class
Garzella Group
In today's episode, Gary takes a deal that he closed at the end of 2021 and uses this as a case study to show how he looks at opportunity! You'll hear a step-by-step outline of all the things he's looking forward to transforming on this one hundred plus property, beginning with the two reasons he prefers buying units over a hundred in an economy that's at scale right now. We then discuss how to leverage your time in terms of leasing agents and property management, before a quick look at the practical tasks that will save electricity and water as well as time and money later. From how they're tackling the image of the property to the nitty-gritty of the rehab upgrades, you'll get all the practical details of how to navigate these opportunities to save money and create an investment that benefits everyone! To hear his top advice on dealing with timelines, accountability, and efficient time management, press play, and join us today.
Key Points From This Episode:
- A brief introduction to today's case study: a deal Gary closed at the end of 2021.
- He explains the two reasons why he's only buying a hundred plus units now.
- Some benefits of buying from a long-time owner of a property.
- What the plans are for the rehab and how he plans to save on water and electricity.
- How to ensure that you are able to exit your business plan.
- Some figures on previous and projected rents.
- How to monitor your TMT's accountability and timelines.
- Gary shares his tips on getting everything you need ready before your teams start.
- Some great advice on having clear communication with your property manager.
Tweetables:
“Finding a good opportunity is great but you have to be able to exit on your business plan as well and it doesn’t magically happen.” — @garylipsky [04:49]
“You want your rehab team to have everything they need for the renovation, ready to go before they start. You don’t want a vacant unit sitting while you’re waiting on appliances, flooring, light fixtures or whatever else you need.” — @garylipsky [05:24]
“A lot of property managers or property management companies don’t move at your speed, so make sure you communicate what you’re looking for ahead of time before you start with them.” — @garylipsky [06:46]
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Garzella Group
Today’s guest is Nikolai Ray, a Professor in Real Estate Financial Engineering, a FinTech entrepreneur, and a real estate investor. He has structured more than 10 billion dollars in multi-family real estate acquisitions and is also a former professional hockey player, which makes for a very interesting background! Join us to hear Nikolai’s thoughts on knowing your numbers, prioritizing your evolution, and how financial engineering differs from this. You’ll also hear what he looks for when he analyzes his deals twice annually, and what some of the tools are that help him to do so. We discuss comps and reports, as well as why Nikolai is such a heavy value-add investor. He also tells us how his skills have worked together to create his asset management superpower: synthesis. We hope you join us today!
Key Points From This Episode:
- An introduction to today’s guest, multifamily investor, and former hockey player, Nikolai Ray.
- Why knowing your numbers is so critical: from your underwriting team, to your business execution, to finally exiting.
- Why a lot of investors stop evolving at the underwriting stage.
- How financial engineering differs from this with analyzing deals and exposing the next ante.
- What he looks for when he analyzes his deals twice a year.
- Helpful tools for analysis including Phoenix.
- Why Nikolai trusts comps far more than reports.
- Why Nikolai is such a heavy value-add investor.
- What he considers to be his asset management superpower: synthesis.
Tweetables:
“Where a lot of people stop that evolution and underwriting and modeling is they just take a snapshot and then that’s it .” — @nikolairay [03:25]
“ I think the ability to synthesize is my superpower. You could be really good at financial engineering or underwriting or modeling but when you’re growing a portfolio as fast and doing such heavy lifting and having so many different parts of your capital stack, you have to be able to essentially just calculate a whole bunch of things.” — @nikolairay [0:00]
“I’m a very heavy value-add investor, an opportunistic investor, so I buy horrible stuff, crappy stuff. I’ll buy abandoned apartment buildings, I’ll buy crack houses. That’s the kind of stuff I buy.” — @nikolairay [17:35]
Links Mentioned in Today’s Episode:
Nikolai Ray on Facebook
Nikolai Ray on Twitter
Nikolai Ray on Instagram
Nikolai Ray on TikTok
MRex
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Garzella Group
One of the biggest costs in multifamily real estate is a high turnover of residents, which can be particularly tricky to manage when you’re taking over a new property. This week on the show we welcome Robert Ritzenthaler to discuss his resident retention secrets, as well as the biggest obstacles he’s had to overcome when taking over from previous asset managers. Robert has both an MBA and a CPA, and grew up in the construction business, making him uniquely qualified to excel at real estate and asset management. In our conversation, Robert shares how resident retention typically plays out for him, depending on the building and its occupants, and why he is always willing to negotiate with good tenants in order to retain them. He also expands on the methods that have served him best when it comes to retention and why he considers his ability to get involved with the less glamorous aspects of real estate to be his superpower. To learn more about retention, exceptional management, and more, make sure you tune in today!
Key Points From This Episode:
- Get to know today’s guest, Robert Ritzenhaler.
- How Robert’s background in construction set him up for success in real estate.
- The demographic that was being underserved in real estate and how Robert is helping them.
- How resident retention typically plays out for Robert.
- Why Robert believes it’s worthwhile making exceptions for good tenants.
- Some of the most effective methods Robert has used to increase retention on his properties.
- How Robert trains his workers to think like customer service representatives.
- The most challenging obstacle Robert has had to overcome to fix a retention problem.
- Robert shares what he believes is his asset management superpower.
Tweetables:
“We always kind of make an exception for really good folks because, at the end of the day, we all know turnovers are our number one cost.” — Robert Ritzenthaler [0:06:19]
“There’s a whole host of issues that get pushed out of the way when you communicate well.” — Robert Ritzenthaler [0:09:31]
“I feel like probably the biggest superpower is just really digging into the operations and not being intimidated by, for lack of a better term, the toilets and you know, things like that.” — Robert Ritzenthaler [0:12:52]
Links Mentioned in Today’s Episode:
REM Capital
Robert Ritzenthaler Email
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Garzella Group
It’s critical to stay on top of the current lending environment. Joining us today to update us on everything we may have missed is Andrew Westling. Andrew is the Associate Director of Capital Markets at Walker & Dunlop and is well-versed in the world of lending, to say the very least! In this episode, we pick Andrew's brain and discover the effect that the shift from LIBOR to SOFR has had on interest rates, and why floating-rate loans are required for value-add properties! We discuss the respective benefits of bridge loans and fixed-rate loans, the advantages of pref equity over common equity, and the true correlation between interest rates and cap rates. Andrew fills us in on the various alternatives to agency debt and the options to tap into trapped equity! From a lender’s perspective, we find out what sponsors should be aware of, and what lenders expect from them in the current climate. And that’s not all! We cover everything from supplementals to how buyers will most likely adapt to the rising interests rates if sellers fail to do so, and we briefly project into the future to predict 2022’s interest rate hikes. Tune in for this dense yet informative episode on all things lending in the current economic environment!
Key Points From This Episode:
- The work Andrew does as Associate Director of Capital Markets at Walker & Dunlop.
- How LIBOR has been replaced by SOFR, and how that affects interest rates.
- Why floating-rate loans are required for value-add properties and what they allow for.
- The benefits of bridge loans and fixed-rate loans, respectively.
- The alternatives to agency debt, and what makes it so attractive.
- How to tap into trapped equity.
- What a supplemental is and how to use it to your advantage.
- The advantages of pref equity over common equity.
- What lenders look for in sponsors and what they should be aware of.
- Andrew predicts multi-family interest rate hikes for 2022.
- The true correlation between interest rates and cap rates.
- Andrew speculates how buyers will adapt to a rising interest rate market if sellers don’t.
Tweetables:
“Unless you’re in process on a current loan that was quoted under LIBOR and is now transitioning into SOFR, you won’t have much fallout from the change.” — Andrew Westling [0:02:55]
“The more inflexible your loan, typically, the bigger [the] discount you can get on the cost of that debt.” — Andrew Westling [0:07:06]
“The costs of a transaction on the debt side are essentially the same on a million-dollar deal as it is on a 25 million-dollar deal.” — Andrew Westling [0:12:45]
Links Mentioned in Today’s Episode:
Andrew Westling on LinkedIn
Andrew Westling Email
Andrew Westling Phone
Walker & Dunlop
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Best in Class Garzella Group
Today's guest is the legendary Matt Picheny, real estate syndicator (including syndication for Broadway) and the author of Backstage Guide to Real Estate. Tuning in, year how Matt turned a potentially devastating situation into the success story of his first buy, how he made the switch to full-time real estate investing, and the huge amount of learnable advice and hard-won experience that is available to readers of his book. We dive into the numerous parallels that can be drawn between the world of theater and asset management in real estate and how Matt’s interesting thespian background set him up for success as a Broadway syndicator. You'll get top tips and advice, as well as a sneak-peek into some of the chapters in the book, plus how his asset management superpower of persistence has served him not just in this sphere but in all aspects of life previously. Join us today for this punchy and information-packed conversation!
Key Points From This Episode:
- An introduction to Matt Picheny and his fast climb from rock bottom to buying his first house.
- Some of his subsequent deals and making the switch to full-time.
- What the reader can expect from Backstage Guide to Real Estate.
- How his experience with theater set him up for success in real estate.
- The many parallels of a Broadway syndication versus a real estate syndication.
- A peek into some chapters from his book, from selling air rights to tricks in a 1031 exchange.
- Hear about the comprehensive glossary, index, and keystone concepts you'll read.
- Matt's top nugget of advice on time versus money!
- His superpower of persistence and how it has served him in the past.
- A little about where you can hear more and get this fantastic book for yourself!
Tweetables:
“Don’t trade your time for money.” — Matt Picheny [11:46]
“Persistence is my power with asset management; making sure that things are getting done and following through and being unrelenting, in a nice way, but making sure things get done.” — Matt Picheny [12:41]
Links Mentioned in Today’s Episode:
Matt Picheny on LinkedIn
Matt Picheny on YouTube
Backstage Guide to Real Estate
Picheny: Your Backstage Guide to Passive Investing
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Best in Class
Garzella Group
In this episode of the Real Estate Asset Management Podcast, we are joined by Quentin D’Souza, a schoolteacher turned prolific real estate investor. Quentin has over 80 million dollars in assets under management across Canada and the US has transacted over 80 properties since 2004 and is the author of four real estate books. In our conversation with Quentin, he sheds light on the differences between the US and Canada when it comes to real estate investment, including the respective risks and benefits, and intel into how to avoid double taxation. We hear about his asset management superpower of repositioning rent-controlled assets: what he has gained from it and the strategies he employs. Furthermore, Quentin shares a few of his methods for turning over difficult tenants and imparts a contagious enthusiasm for the art of asset management! Get on track to become a best-in-class operator and dial in for another illuminating conversation on how to build systems and manage your properties more efficiently.
Key Points From This Episode:
- An introduction to today’s guest, Quentin D’Souza.
- Quentin shares his typical business plan for rent-controlled properties.
- Under what circumstance rent becomes decontrolled in Ontario.
- The advantages of raising units to the market rent.
- How property turnover timelines and tax structures in Canada differ from those in the US.
- What Canadians should look out for if investing in the US and what to do to avoid double taxation.
- The risks and benefits of investing in the US and Canada respectively.
- Quentin’s different tenant turnover methods.
- Quentin’s asset management superpower: repositioning assets in rent-controlled environments.
Tweetables:
“I find that when it’s a challenge and I can solve problems that other people can’t solve, I can make money where other people won’t make money.” — @qmanrei [04:47]
“The reason why I invest in the US is because I want to have hedging against the Canadian dollar through the US economy and the US dollar.” — @qmanrei [10:22]
“My asset management superpower is definitely doing the repositioning of assets in rent-controlled environments.” — @qmanrei [15:51]
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Quentin D’Souza on LinkedIn
Quentin D’Souza on Instagram
Quentin D’Souza on Twitter
Email Quentin D’Souza
Get Real Wealthy Podcast
Best in Class by Gary Lipsky
Garzella Group
In today's climate of supply chain issues and labor cost hikes, being vertically integrated is a one-way ticket to being successful in a time that can be devastating to smaller businesses. Today on the show we have real estate powerhouse Steven Ludwig, who's vertically integrated and has purchased over 1.2 billion dollars worth of real estate in Southern California. In this conversation, Steven shares his top renovation strategies and details the most important things he looks for, as well as some interesting insider perspectives on the current and future state of the market. The listener will also hear the tantalizing story of some unexpected windfalls around two value add pieces in his developer's journey, plus some strong advice that he gives to his clients: preplanning may not always be easy, but it's your number one risk mitigation tool right now. Tune in now to hear it all from the man with the asset management superpower of vertical integration!
Key Points From This Episode:
- We kick off with a brief introduction to Steven and his impressive career.
- Hear an inspiring story about the power of a can-do attitude to propel you forward.
- Renovation strategies; what are the most important factors to look for in an opportunity.
- The 3 D's, and why he prefers spending more money on the interior.
- Hear how Steven mitigates supply chain and labor cost issues.
- The importance of proactive preplanning in the current climate.
- Hear the story of how he backed into both of his developments almost unknowingly.
- Steven shares his hard-won asset management superpower!
Tweetables:
“We have a unique operational capability that most of our competitors don’t have and we keep that machine doing what it does best.” — @StevenLudwig31 [07:07]
“Having multiple businesses, we pay the price and we receive the benefit.” — @StevenLudwig31 [07:27]
“The blessing is to wake up in the morning and love what you do.” — @StevenLudwig31 [15:43]
Links Mentioned in Today’s Episode:
Steven Ludwig on LinkedIn
Steven Ludwig on Twitter
Coastline Real Estate Advisors
Turnaround Solutions
TASORO Products
Steven Ludwig email
Best in Class: How to Manage Your Multi-Family Asset, Avoid Mistakes and Build Wealth Through Real Estate.
Asset Management Mastery Facebook Group
Asset Management Mastery
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Garzella Group
On today’s episode, we host Ryan Christopher Nunes, president and founder of Life Changing Capital. He shares three macro tips he has learned during his successful career on Wall Street to help listeners up their asset management game. You’ll also hear about his background before entering the world of multifamily asset management and how he met his partner with whom he has since underwritten 300 deals. He shares some practical tips with listeners, including three free organizational tools that have streamlined his team’s workflow and gives us the opportunity to learn from the mistakes he has made, plus you’ll find out what his sales superpower is: making great hiring decisions. We hope you tune in to hear from this giant in the field today!
Key Points From This Episode:
Meet Ryan Christopher Nunes, who started his career on Wall Street before entering the world of multifamily asset management.
- How he met his partner, Jeff Yang, with who he has since underwritten 300 deals with.
- Ryan’s first macro tip: buy right because it’s easier to manage a deal from a good basis.
- Why you should be involved with staff decisions and have buy-in on each new hire.
- The power of taking responsibility and not blaming others when things go wrong.
- How he uses Asana with ranked priority lists and completes about 20 tasks a month.
- WhatsApp and Zoom as additional free resources that Ryan uses as organizational tools.
- Why you can be conservative, but you have to be practical as well.
- What Ryan considers to be his sales superpower: making great hiring decisions.
Tweetables:
“Buy right. It’s much easier to manage a deal and asset when you bought it at a good basis.” — Ryan Christopher Nunes[04:14]
“Be involved with staff decisions. This is something that I learned on my time in Wall Street. For every time that I interviewed at different banks or interviewed somebody, there’s 10 to 20 interviews that you’d had to go through just to make sure that everyone had buy-in.” — Ryan Christopher Nunes[05:20]“Everything that happens at the property, we need to respond to. We need to figure out a solution. There’s always going to be issues and problems that come up, but the asset managers need to take responsibility and figure out how to solve these issues.” — Ryan Christopher Nunes[07:00]
Links Mentioned in Today’s Episode:
Ryan Christopher Nunes on LinkedIn
Life Changing Capital
The Garzella Group
Asset Management Mastery Facebook Group
Break of Day Capital
Gary Lipsky on LinkedIn
Today on the Real Estate Asset Management Podcast we are joined by former syndicator turned lawyer, Gene Trowbridge, to talk about voting rights, 1031s, and closing an entity. Gene shares his journey of moving from commercial real estate to syndication, and finally to law at the age of 45. Despite his predictions of retiring from law after 15 years, he’s still deep in it 27 years later and, along with his partners, has written offerings for more than five billion dollars of money raised. In this episode, Gene shares his wisdom with us and talks us through everything to consider when preparing to sell an asset, how to determine the selling point, and what to do once a property is sold. Covering everything from discerning the right time to close an LLC to the three choices you have when it comes to 1031s, this episode offers invaluable insights from someone who has truly seen the industry from all angles. Join us for an insightful conversation with a veteran in the field as he advises us on how to avoid the mistakes he’s stumbled upon in his long and successful career. By the end of this episode, you’ll have a much clearer idea of how to go about asset disposition the right way!
Key Points From This Episode:
- Gene Trowbridge’s journey from syndication to law, and the type of offerings he’s written.
- What to consider within the operating agreement when preparing to sell an asset.
- How to determine the selling point of an asset, based on the opportunity cost.
- Gene discusses voting rights and his belief that it’s the syndicator’s job to decide.
- Why sponsors should pair up with a broker to handle listings.
- What syndicators need to do once a property is sold.
- Why you need to dissolve the LLC on the disposition of the final asset, and how to do so.
- What to do if you close at the beginning and at the end of the year, respectively.
- Gene shares a mistake he made, and what he would have done differently to bypass the LLC.
- Why to count on the CPA to tell you how to dissolve the LLC.
- Why some professional advisers recommend that the LLC be kept open an additional year.
- The three alternatives when it comes to 1031s and buying people out.
- What circumstance justifies moderating the operating agreement.
- What happens when investors want to exchange their property for a deed in a larger property.
- The minimum threshold and what to do if you lose more than 50% of your investors.
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Asset Management Mastery
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital Youtube
Gary Lipsky on LinkedIn
Gene Trowbridge on LinkedIn
Trowbridge Law Group LLP
Trowbridge Law on YouTube
Best in Class
Garzella Group
Thanks for tuning in to another episode of the Real Estate Asset Management Podcast! Today we welcome Juan Vargas, a multi-family investor with over five years of experience under his belt. During our conversation, we ask him about the most important factors he looks for in an investment opportunity, why he is moving his focus to A and B products instead of C, and what his rule of thumb is when it comes to numbers. He tells us why he has chosen to focus on Houston and Austin, how the markets differ, and what he likes about DFW. We get into some of the biggest asset management challenges he has had to face, and he tells us how important it is to assign different tasks to different team members. Can you guess what his asset management superpower is? Communication! Thanks for tuning in.
Key Points From This Episode:
- An introduction to today’s guest, Juan Vargas, a multi-family investor since 2016.
- The most important factors he looks for in an investment opportunity.
- Why he is trying to push away from the C product to focus on A and B.
- How there isn’t a certain number he looks for because each deal is different.
- The general rule of thumb of three to five cap.
- Why he has chosen to focus on Houston and Austin and how the markets differ.
- What he likes about DFW and his perception of the market over there.
- The biggest asset management challenges he has had to face: communication and software.
- How important it is to assign different tasks to different team members.
- His asset management superpower: communication and construction.
Tweetables:
“There’s always surprises, right? Sometimes they’re good surprises and you’ll take them and sometimes there are tough surprises, but you just got to navigate around it and find a solution, right? That’s all you can do.” — @thejuanvargas [08:01]
“For our dealers, we have multiple partners and so we’ll have two or three guys that are on the asset management team. You’ve got to make sure that you have a specific person that’s assigned to a specific duty or task or roles.” — @thejuanvargas [09:30]
Links Mentioned in Today’s Episode:
Juan Vargas on Email
Juan Vargas on Twitter
Juan Vargas on Facebook
Juan Vargas on Instagram
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Garzella Group
Welcome to the Real Estate Asset Management Podcast brought to you by Break of Day Capital! In today’s episode, we talk to Boardwalk Wealth syndicator, Omar Khan, about the multimillion-dollar question: sell or refi? Omar shares his thoughts on whether he thinks it’s best to recapitalize, sell, or refinance properties and shares examples from his own career experience. We discuss the pros and cons of selling and refinancing, and the challenge of finding a balance with long-term wealth and risk. We touch on what can be done to ease the setbacks of labor shortages and ways to ensure that your team is always up to date and on the same page. Omar talks about the link between cap rates and interest rates and explains why you cannot simply sit around, idly waiting for the market to grow. Tune in to find out more from professionals in the field so you can make an informed decision to either sell or refi.
Key Points From This Episode:
- Guest Omar Khan shares his professional background.
- Omar’s thoughts on whether to recap, refi, or sell.
- Finding a balance with long-term wealth and long-term risk.
- Pros and cons of selling.
- Pros and cons of refinancing.
- Why Gary chooses to sell more often in a quicker time period.
- How Omar is willing to take risks with his own money, but not with other people’s money.
- Gary shares how labor shortages have set him back a bit.
- How Omar has elevated one of his onsite property managers to the role of floating PM.
- Why Omar makes a record of repeatable tasks to add to an ever-expanding learning library.
- Loom: what it is and what it can be used for.
- How cap rates are linked to interest rates.
- Why you have to be prepared to spend money and can’t simply wait for the market to grow.
- The growing demand for workforce housing.
- Omar’s asset management superpower: being organized.
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Asset Management Mastery Website
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Jake and Gino
Omar Khan on LinkedIn
Boardwalk Wealth
Omar Khan email: omar@boardwalkwealth.co
Garzella Group
Welcome back to the Real Estate Asset Management Podcast. Thanks for joining us! In conversation with us today is Tyler Chesser, who hosts the Elevate podcast, which is all about mindset, mind expansion, and personal development for high-performing real estate investors. Our topic today is big picture investment strategy, and Tyler Chesser shares some amazing pearls of wisdom with us, all underpinned by his view that every deal is unique and has specific qualities. You’ll hear all about the property management structure he has implemented in each area he serves, and how he uses a hands-on approach with each of them. He also shares his focus on having an approach of continual course correction in collaboration with his team, always aiming to act out of proactivity and not reactivity. We touch on strategy, tracking tools, and more in today’s inspiring conversation. We hope you join us!
Key Points From This Episode:
- Meet today’s guest, Tyler Chesser, host of Elevate with Tyler Chesser.
- His philosophy that every deal is unique and has specific qualities.
- The areas he serves: Kentucky, Indiana, Ohio, and Tennessee.
- Why he has chosen to partner with the ideal property management company for each area.
- How he tries to be hands on with weekly asset management calls with every company.
- His approach of embracing continual course correction to solve problems together.
- The principles of communication that Tyler pulled from Gino Wickman’s Traction.
- Why it is so important to build a system to facilitate communication and prevent reactivity.
- The dangers of acting defensively rather than being proactive in multifamily real estate.
- Strategy as the most important role of an asset manager.
- The tracking tools that enable Tyler to store information: Google Sweep, Google Sheets, Excel and Word.
- Tyler's asset management superpower: leadership.
Links Mentioned in Today’s Episode:
Tyler Chesser
Tyler Chesser on Facebook
Tyler Chesser on LinkedIn
Tyler Chesser on Twitter
Tyler Chesser on Instagram
Elevate with Tyler Chesser
Traction
CF Capital
Best in Class
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Garzella Group
Today on the Real Estate Asset Management Podcast, we talk to Dustin Miles and Hayden Harrington of Momentum Multifamily about managing risk in the asset management sphere. We discuss the differences when it comes to managing a C-class versus an A-class or a B-class deal, as well the pros and cons of each class respectively. Dustin and Hayden share the ways in which COVID has affected their choices, as well as some of the invaluable asset management-related lessons they’ve learned over the years. Tune in for some useful tips and insights on how to mitigate risk and grow intelligently, instead of just growing for the sake of growing!
Key Points From This Episode:
- Dustin and Hayden briefly introduce themselves and share their professional backgrounds.
- Pros and cons of managing A, B, and C-class deals from an asset management standpoint.
- How COVID affected each asset class respectively.
- How Dustin and Hayden track their assets by inputting financials against the proforma.
- Lessons they’ve learned regarding asset management.
- The importance of working with the right management company in the right area.
- The importance of considering the risk-adjusted return.
- Why Dustin and Hayden have abandoned C-class for the most part.
- How to mitigate risk and grow intelligently, instead of just growing for the sake of growing.
- Why they stick to buying property in the same region and working with the same regional.
- Their asset management superpowers: being detail-oriented, diplomatic, and team-oriented.
Tweetables:
"During COVID, we did see quite a difference. We had more delinquency, more bad debt, and all that on the [C-class] side. [A-class] was just a lot more stable, a lot more seamless, less peaks and valleys." – Dustin Miles [0:02:29]
“We just want to mitigate risk however we can and grow intelligently – not just grow to grow.” — Hayden Harrington [11:57]
“We’re not here to be right. We’re here to do what’s best for the business, for each other, and for our investors. That’s something that we keep a priority here at Momentum [Multifamily].” — Hayden Harrington [15:06]
“It pays dividends to invest in people and understand who you're getting in business with and not just jumping at the first option or the cheapest option that comes along.” — Hayden Harrington [15:39]
Links Mentioned in Today’s Episode:
Dustin Miles on LinkedIn
Hayden Harrington on LinkedIn
Momentum Multifamily
Asset Management Mastery Facebook Group
Asset Management Mastery
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Best In ClassGarzella Group
Welcome back to another episode of the Real Estate Asset Management podcast! The conversation today centers around a recent deal we sold, covering the whole cycle of ups and downs we faced along the way! We kickstart the conversation with some numbers up front and move through each step from the initial site inspection of this true value-add to the challenges. We talk about taking over just a few months before COVIID, renovation decisions, scaling, and the permit marathon. The listener will also hear firsthand details of the business planning and execution, as well as some tough decisions about changing managers, and the importance of a great team. Rarely is it a smooth ride, and if you want to learn from this excellent example of picking the right markets, truly knowing that market as well, and being a hands-on asset manager, tune in now!
Key Points From This Episode:
- Some upfront numbers about this true value-add, and how we beat others to the punch!
- How the property wasn't managed overly well, but the numbers worked.
- Some difficulties in finding good partners that believed in us and the deal.
- What to do with our webinar to raise capital when the lending cap was reached for that year.
- Changing the name, scaling back on renovations, and effective one-time advertisement costs.
- Getting a permit for the washer dryers; it takes longer than you think.
- Taking time to work through a rough tenant base.
- Challenging managers, and waiting too long to make a change.
- How important it is to have a great team.
- Outlining the financing, Fanny Green loans, the pitfalls of long-term financing, and more!
Tweetables:
“You want to get a jump on others and, if you can, make a preemptive bid before it goes to a best and final [offer].” — Gary Lipsky [0:02:14]
“You need to be able to trust your property manager, when you cannot then it is time to move on.”— Gary Lipsky [0:08:18]
“Having that extra in reserves gives you options to do [these types of] pivots, as you never know what will evolve over time. And it is great to have that buffer, to have the flexibility.” — Gary Lipsky [0:09:19]
“Even if you are making great strides, let your property management team know that you are not going to get complacent so that they are not going to get complacent.” — Gary Lipsky [0:10:57]
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Asset Management Mastery
Break of Day Capital
Break of Day Capital on Instagram
Break of Day on Youtube
Gary Lipsky on LinkedIn
Best in Class: How to Manage your Multifamily Asset, Avoid Mistakes and Build Wealth through Real EstateGarzella Group
With each change in administration, come new changes to the U.S. tax bill. This week’s guest on the Real Estate Asset Management Podcast is Brandon Hall, CPA and managing partner of The Real Estate CPA. In our conversation with Brandon, he breaks down some of the tax changes that have been implemented by the Biden administration thus far, what we can anticipate in the coming years, and how the changes may affect real estate investors. We talk about why S corporations will become less impactful for high-income earners under the new tax bill, and how the Biden administration opted for a surtax, rather than a wealth tax. Brandon discusses the rate at which bonus depreciation will be phased out, and the subsequent relevance of Cost Segregation studies. He predicts an increase in audit rates that will follow the significant budget allocation to the IRS and gives advice on how to prepare. Tune in to find out more about how the tax changes will affect the real estate industry, and how you can remain a few steps ahead and win impending audits!
Key Points From This Episode:
- Brandon’s professional background and experience.
- 2021 tax changes: effect on real estate investors.
- October 2021’s “vanilla tax bill”.
- Why S corporations will become less impactful for high-income earners under the new tax bill.
- How bonus depreciation is going to phase down 20% each year from 2023, until it reaches zero.
- The relevance of Cost Segregation studies once bonus depreciation has been phased out.
- How the Biden administration opted for a surtax instead of the wealth tax.
- 2022 tax changes: billions allocated towards IRS taxpayer enforcement.
- Audit rates expected to increase from 2022.
- How the tax loss that comes from Cost Segregation could increase your audit risk.
- What causes people to lose audits, and how to win them by being organized and thinking ahead.
- Why people should take the IRS more seriously in future.
Links Mentioned in Today’s Episode:
The Real Estate CPA
The Real Estate CPA Podcast
Tax Smart Real Estate Investors Facebook Group
The Real Estate CPA on Twitter
The Real Estate CPA on Facebook
Asset Management Mastery
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Best in Class: How to Manage Your Multifamily Asset, Avoid Mistakes and Build Wealth Through Real EstateGarzella Group
Mindset, preparation, and mentorship aren’t necessarily the first words that come to mind when referring to asset management and multifamily real estate. Today’s guest, multifamily real estate investor and author, Chris Bystriansky, is here to prove otherwise. In today’s episode, Chris shares a bit about his professional background and how changing his mindset changed his life. He speaks about the lessons he’s learned from partaking in endurance events, and how they are directly applicable to business. Tune in to discover how life and challenges outside of business can make you a better business person.
Key Points From This Episode:
- Chris Bystriansky’s professional background.
- A life-changing endurance event Chris took part in.
- How he started trying different things to expand his mindset.
- The power of changing your mindset.
- The difference between smart people and intelligent people.
- What Chris learned during the ‘29029’ event, and the direct application to business and asset management.
- Improving your performance by working with others and asking for help.
- Takeaway lessons that Chris has applied to his multifamily business.
- The importance of loving what you’re doing, even if just a simple aspect of it.
- Chris shares a funny anecdote to emphasize that looks can be deceiving.
- Chris mentions giveaways and resources he’s able to provide listeners with.
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Chris Bystriansky on LinkedIn
Chris Bystriansky Email
Renting From My 6-Year-Old
Best in Class
Asset Management Course
Garzella Group
12 Life and Business Lessons from 29029 - by Chris Bystriansky
Renting From My 6-Year-Old – by Chris Bystriansky - 2 Free Chapters
Today’s guest went from running a family-owned pizzeria to being one of the top mentors in multifamily investing. Join us as Gino Barbaro takes us through his 10-minute MBA, and gives us key advice on how to build your business. From defining your core values, to how to structure your business goals and meetings, this episode is a masterclass! Find out how to make your first hire less daunting, and why you should do the tasks that you don’t want to do when you first start your business. We also discuss the books that changed Gino’s life, and how he’s been inspired to write some of his own, including his latest release, the children’s book, The Cannoli’s Exploded! Now What? We hear how entrepreneurs can change the world through financial education, and about the upcoming Multifamily Mastery masterclass. Don’t miss out on this exciting episode!
Key Points From This Episode:
- An introduction to Gino, once a family-run pizzeria owner, now a successful multifamily wealth educator.
- Why you need to do the parts of the job that you don't want to do.
- How being bored motivated Gino to become an author and scale up his property management business.
- Core values: why you need to define yours.
- Find out which systems you should be implementing in your business.
- Picking priorities: setting goals and targets throughout your calendar year.
- Why it’s important to set up systems when you are still a small business.
- How to make the prospect of your first hire less daunting.
- The responsibility of entrepreneurs is to change the world through financial education.
Links Mentioned in Today’s Episode:
Gino Barbaro on LinkedIn
Jake and Gino's Website
Jake and Gino's Books
The Cannoli’s Exploded! Now What? A Story About Three Different Paths You Can Take in Life by Julia Barbaro
The MM4 Masterclass
Can't Hurt Me: Master Your Mind and Defy the Odds by Dave Goggins
The Presentation Secrets of Steve Jobs: How to Be Insanely Great in Front of Any Audience by Carmine Gallo
Vivid Vision: A Remarkable Tool for Aligning Your Business Around a Shared Vision of the Future by Cameron Herold
Asset Management Mastery Facebook Group
Asset Management Mastery
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Best in ClassGarzella Group
As a multifamily syndicator, your return on investment does not solely rely on your ability to increase rents. There are numerous ways that you can boost your NOI and, in this episode, we cover how interior design can help you do just that! Today’s guest is Lisa Landry, President of Landry Designs and Landry Staging and CEO of Above & Beyond Holdings, a multifamily investment company with over 200 doors under management. In today’s episode, Lisa shares a bit about her personal multifamily syndication experience, which she believes gives her an edge in the industry and helps her provide her clients with greater ROI. You’ll also find out focusing on image and branding can increase interest in your properties and make a B or C class unit sell like an A-class one! Tune in today to learn more.
Key Points From This Episode:
- An introduction to Lisa Landry and her companies, Landry Designs and Landry Staging.
- How her multifamily syndication experience helps Lisa provide her clients with greater ROI.
- Why she believes that she can add value to any size property, big or small.
- The importance of image and branding, from the website to the leasing office and model unit.
- What syndicators should spend on interior design and staging and what ROI they can expect.
- Three key elements: potential residents want to live there, current residents feel pride of ownership, and onsite staff want to work there.
- Learn about the process of working with Lisa and her team, from Zoom call to renovations.
- Lisa shares one of the most interesting properties she has worked on to date.
Links Mentioned in Today’s Episode:
Lisa Landry on LinkedIn
Lisa Landry Email
Landry Designs
Landry Designs on Instagram
Asset Management Mastery Facebook Group
Asset Management Mastery
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Best in ClassGarzellaGroup
Hello and welcome back to the Real Estate Asset Management Podcast! Today we talk all things underwriting, with co-founder and principal of Lone Star Capital, Rob Beardsley. In this episode, Beardsley shares some of his vast knowledge on all the components that make up the underwriting process, and guides us through the ins and outs of using the analytical tools at your disposal to create a solid evaluation of your real estate investment (hint: a simple but robust underwriting model is crucial). We also get some advanced tips from his new book The Definitive Guide to Underwriting Multi-Family Acquisition, on making it to the other side of your ups and downs so you can get a permanent win. From rent growth to the relationship between cap rate compression analysis and bond yields during rent inflation, we get all the top insights and more... Tune in today and level up your asset management ability!
Key Points From This Episode:
- What inspired Beardsley to write his new book The Definitive Guide to Underwriting Multi-Family Acquisition
- Breaking down the components of underwriting, starting with the T12 and the rent roll, to figuring out its future potential through use of data and a property management partner.
- Finding your own balance with underwriting tools, and keeping it simple.
- Focusing on next level analysis of certain metrics aside from IRR and cash-on-cash.
- What is a debt service coverage ratio, and using that metric to assess risk and future outcomes.
- The Exit Test, and new loans while your old one is maturing.
- Following the huge new trends in cap rate compression due to the effects of the pandemic.
- The relationship between bond yields during rent inflation and lower cap rates.
- The most important piece in acquisitions right now – rent growth.
- Beardsley's asset management superpower, and realizing the dream of their own in-house property management company, Radiance Living.
- Free underwriting resources available for analyzing property.
Links Mentioned in Today’s Episode:
Rob Beardsley on LinkedIn
The Definitive Guide to Underwriting Multi-Family Acquisition
Lone Star Capital
Asset Management Mastery Facebook Group
Asset Management Mastery website
Best in Class: How to Manage Your Multi-family Asset, Avoid Mistakes and Build Wealth Through Real Estate
Gary Lipsky on LinkedIn
Garzella Group
Thank you for joining us for another episode of the Real Estate Asset Management Podcast! During today’s conversation, Gary Lipsky shares all the details of a deal he closed in early 2021. You’ll hear how, when you focus on a few markets, you can become an expert in those markets, what it was like to close a deal within the seller’s tough time constraints, and how a zoning attorney can be useful. The real work begins when you take over a property, and Gary shares some insights into what that process looked like during this deal. Get a glimpse into the process of successfully closing a deal and everything that comes after that when you tune in today!
Key Points From This Episode:
- Details of the deal Gary closed in early 2021.
- Why he chose the deal: the price point, the size of the units, and the number of units in total.
- How, when you focus on a few markets, you can become an expert in those markets.
- What time constraints were put on the deal by the seller: to close in 45 days.
- The challenge of changing the use of the property from student housing to multifamily.
- Why it was necessary to work with a zoning attorney to close the deal on time.
- How often you will find that your attorney is not on the same timeline as you.
- Why the real work begins when you take over a property.
- Why Gary needed to hire an engineer to do an IPP (individual parking plan) assessment.
- How they changed one bedroom into a kitchen area.
- Why this is a ‘to be continued’ story: they are close to submitting to the city for phase two.
- How they scaled the staff after the hurdle of turnover they have overcome since July.
- The outperformance of the last few months and the units they still need to attend to.
Tweetables:
“What intrigued me about this deal was the price point, the size of the units, which were big, and the number of units in total, which was right in our sweet spot.” — @garylipsky [0:01:48]“When you focus on a few markets, you can be [an expert] in those markets and jump quickly on a deal if it makes sense.” — @garylipsky [0:02:03]
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Garzella Group
Welcome back to another episode of the Real Estate Asset Management Podcast, today’s guest is Andrew Rybczynski. Andrew is a management consultant at CoStar Advisory Services, which is built on top of CoStar, the largest data provider for commercial real estate in the US. They utilize the data to advise institutional clients, banks, pension funds, REITs, hedge funds on investment and commercial real estate, where to do it, and what types have the potential to outperform in the future. Tuning in, listeners will hear about Andrew’s take on the differences in regional and market type performance, rent growth, and the impact of evictions on vacancy. We also talk cap rate compression, interest rates, and so much more! So stay tuned!
Key Points From This Episode:
- More about Andrew and what he does for a living.
- Differences in regional and market type performance and what is being seen out there: tax cost.
- Rent growth, what it’s doing, and how much longer this can continue.
- CoStar’s projections for rent growth in Phoenix, Arizona; 6-7% in the next 1-2 years.
- How evictions are going to be affected and what will happen to vacancy.
- Cap rate compression, where interest rates may go, and how it affects the tremendous amount of capital chasing the same deals.
- What listeners should know about workforce housing.
- Andrew shares his favorite cities and what’s important to him about investing there.
- Why it’s important to research and get to grips with what is happening in cities regarding tech-hub growth.
Tweetables:
“The more people in the market, the more attractive it is for those employers.” — Andrew Rybczynski [0:02:45]
“Workforce — we love it, we like it as an investment class if you’re going into it but building into it is very difficult and that is part of the reason that we like it so much as an investment class — is that it does not face the same supply pressures that you get at the top of the market.” — Andrew Rybczynski [0:11:45]
Links Mentioned in Today’s Episode:
Andrew Rybczynski
Andrew Rybczynski on LinkedIn
Asset Management Mastery Facebook Group
CoStar Advisory Services
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Garzella Group
Today we welcome Brett Swarts to the show, the founder of Capital Gains Tax Solutions. Brett is also a commercial real estate broker, multi-family expert, and he and his company strive to help people who feel trapped by capital gains tax when selling highly appreciated apartment buildings. They like to refer to themselves as the Netflix way of deferred taxes! Joining in today, listeners will hear all about the difference between deferred sales taxes and a 1031, a great explanation on the confidence you can have in their secret recipe, how they deal with the estate “elephant in the room,’ and advice and tips for DST newbies! Stay tuned for all this and more!
Key Points From This Episode:
- More about Brett Swarts and what he does.
- We talk about the differences between deferred sales taxes and a 1031.
- The total dollar amount for transactions that Brett has done so far.
- Hear more about their secret recipe and how they’ve built up their confidence over the years; is it too good to be true?
- Brett shares whether there is a time when it’s not a good fit for a DST.
- Don’t forget about estate tax; Brett shares how they navigate the elephant in the room!
- Advice and tips for DST newbies: work with a qualified intermediary and don’t overpay!
Tweetables:
“The biggest thing emotionally to overcome for this thing is sometimes the people who help to get you there to the first million or the first 10 million or the first 50 aren’t the same people to help you defer 10, 20, 30, 40, 50% of that tax.” — @1031option [0:11:04]
“We want to provide freedom and flexibility to buy and sell real estate on your own terms not on the 1031 terms.” — @1031option [0:14:45]
“I always say to my investors, clients, and partners — we’re not in the business of selling or buying real estate. We’re not in the business of selling or buying tax deferral strategies. We’re in the business of solving problems.” — @1031option [0:18:46]
Links Mentioned in Today’s Episode:
Brett Swarts
Brett Swarts on LinkedIn
Brett Swarts on Twitter
Capital Gains Tax Solutions
Capital Gains Tax Solutions Podcast
Free EBook
Capital Gains Tax Solutions Phone Number — +1 (916) 886 2986
Expert CRE Secrets
Expert Tax Secrets
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Gary Lipsky on LinkedIn
Garzella Group
If you’re not protesting property taxes, you’re more than likely missing out on savings you can earn! Today we welcome a good friend, Darin Batchelder, a successful businessman and real estate syndicator. Darin is a man with a great skill set, especially with regards to building relationships and setting expectations, particularly with people in the real estate world where the 'know, like, and trust factor is a staple in good business. Tune in today as we dive into the topic of protesting property taxes when to start, the savings you can earn, how to underwrite while factoring in property taxes, and so much more! Don’t miss out!
Key Points From This Episode:
- A little about Darin, his background, and what he does.
- How being a successful businessman helped Darin start in the real estate business: building relationships and setting expectations.
- We dive into protesting property taxes and when to start doing it; at least once a year.
- Darin gives perspectives on the types of savings you can earn from protesting property taxes.
- Navigating underwriting when you don’t know what you will get back from protesting property taxes.
- Why it’s important to reach out to other people in the county in which you want to purchase!
- Darin’s asset management superpower: relationships and expectation setting.
Tweetables:
“In this business [real estate], people say, ‘know, like and trust.’ That’s something you want to have in your mindset.” — @DarinBatchelder [0:03:02]
“When underwriting, it’s important to leverage your network to find out what the reality is going to be.” — @DarinBatchelder [0:07:34]
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Garzella Group
Gary Lipsky on LinkedIn
Darin Batchelder
Darin Batchelder on Instagram
Darin Batchelder on Facebook
On today’s episode, we host Ryan Christopher Nunes, president and founder of Life Changing Capital. He shares three macro tips he has learned during his successful career on Wall Street to help listeners up their asset management game. You’ll also hear about his background before entering the world of multifamily asset management and how he met his partner with whom he has since underwritten 300 deals. He shares some practical tips with listeners, including three free organizational tools that have streamlined his team’s workflow and gives us the opportunity to learn from the mistakes he has made, plus you’ll find out what his sales superpower is: making great hiring decisions. We hope you tune in to hear from this giant in the field today!
Key Points From This Episode:
Meet Ryan Christopher Nunes, who started his career on Wall Street before entering the world of multifamily asset management.
- How he met his partner, Jeff Yang, with who he has since underwritten 300 deals with.
- Ryan’s first macro tip: buy right because it’s easier to manage a deal from a good basis.
- Why you should be involved with staff decisions and have buy-in on each new hire.
- The power of taking responsibility and not blaming others when things go wrong.
- How he uses Asana with ranked priority lists and completes about 20 tasks a month.
- WhatsApp and Zoom as additional free resources that Ryan uses as organizational tools.
- Why you can be conservative, but you have to be practical as well.
- What Ryan considers to be his sales superpower: making great hiring decisions.
Tweetables:
“Buy right. It’s much easier to manage a deal and asset when you bought it at a good basis.” — Ryan Christopher Nunes[04:14]
“Be involved with staff decisions. This is something that I learned on my time in Wall Street. For every time that I interviewed at different banks or interviewed somebody, there’s 10 to 20 interviews that you’d had to go through just to make sure that everyone had buy-in.” — Ryan Christopher Nunes[05:20]“Everything that happens at the property, we need to respond to. We need to figure out a solution. There’s always going to be issues and problems that come up, but the asset managers need to take responsibility and figure out how to solve these issues.” — Ryan Christopher Nunes[07:00]
Links Mentioned in Today’s Episode:
Ryan Christopher Nunes on LinkedIn
Life Changing Capital
The Garzella Group
Asset Management Mastery Facebook Group
Break of Day Capital
Gary Lipsky on LinkedIn
The idea of adaptive reuse has been gaining more and more traction in the last year and shows no signs of slowing down. We particularly believe in the value of getting familiar with the adaptation of office space to multifamily and to help introduce our listeners to its potential benefits, in this episode Gary breaks down a recent example of this model, and a particular property in Youngtown, Arizona! Gary takes us through the location, the scouting involved, dealing with the city authorities, and how convenient most of this process has been. The project is still a work in progress so expect updates in the coming months! Listeners also get to hear about some of the exciting add-ons and features that we believe will make the residential development attractive to new tenants, so make sure to join us for this quick and punchy episode!
Key Points From This Episode:
- The speculation that emerged at the beginning of the pandemic about distressed real estate.
- Background information on the property in question in Youngtown, Arizona.
- Communication with and approval from the city; the necessary talks that ensued.
- Adjusting plans and the changes that had to be made for safety requirements.
- Relocation of existing office tenants and finding suitable spaces in the near future.
- The different phases of the plans and how construction will be spread across these.
- Exciting developments in the area and access to a park behind the property.
- The rise of adaptive reuse and the momentum this idea is gaining!
Tweetables:
“For many hotels, it was hard to make the numbers work and there just weren’t many distressed opportunities out there. I know a lot of people are talking about blood in the streets but that never really materialized.” — @garylipsky [01:18]
“There’s also been a lot of talk about office space being converted to multi-family as there just isn’t as much need for it obviously now with a lot of work from home and hybrid situations.” — @garylipsky [01:41]
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Break of Day Capital
Gary Lipsky on LinkedIn
Garzella Group
In today’s episode of the Asset Management Mastery Podcast, we speak with Dallon Schultz, Cofounder and Managing Partner in Empire Assets, about the value of jumping into development deals, learning by doing, and leveraging the experience of others. Dallon specializes in investor relations, market research, and analyzing properties. He is also a licensed Realtor in the state of Arizona and is continually educating others on how to get involved with investment real estate. Tuning in, you’ll learn more about the development deal Dallon is working on, how he learned about development by getting his hands dirty, and the importance of “getting all your ducks in a row,” as Dallon says, and doing your due diligence. Make sure not to miss this informative episode!
Key Points From This Episode:
- An introduction to Dallon Schultz, his background in nursing, and how he got into real estate.
- Learn more about the development deal Dallon is working on in Phoenix.
- Why you would choose development over multifamily acquisitions.
- How he learned about the various moving parts of development by getting his hands dirty.
- The importance of having all your ducks in a row and anticipating upcharges.
- Do your due diligence; leverage the experience of others in development.
- Hear about the Rev X Sedona Experience and Dallon shares a coupon code for listeners.
- Dallon’s asset management superpower: placing the right player in the right position.
Tweetables:
“A lot of moving parts in development. Looking back, it probably would have been wise to bring on a developer, someone that had that experience [but], with this being a smaller project, the best way I learned [was by] getting my hands dirty” — Dallon Schultz [0:06:54]
“Advice I could give to anyone looking to do development: have all your ducks in a row. Have all your plans and designs squared away and, if changes need to happen, anticipate an upcharge for it.” — Dallon Schultz [0:11:03]
“In the real estate space, you’ve got to know how to connect and communicate with people to get the results that you’re looking for.” — Dallon Schultz [0:16:47]
“One thing that I’ve identified, going through my experience, that has truly helped me get to where I am today, is placing the right player in the right position.” — Dallon Schultz [0:20:04]
Links Mentioned in Today’s Episode:
Dallon Schultz on LinkedIn
Dallon Schultz Email
Dallon Schultz on BiggerPockets
Empire Assets
Rev X Sedona Experience 2021
Rev Multifamily Meetup on Instagram
Asset Management Mastery Facebook Group
Break of Day Capital
Garzella Group
Gary Lipsky on LinkedIn
Today’s guest, Perry Zheng, founder of Cash Flow Portal, a real estate syndication software, tells us about his own journey with real estate investment, and how he came to develop a tool to raise money, and resolve some of his own pain points. Perry kickstarts our conversation by telling us a bit about his background, working in software engineering and management at Silicon Valley. Next, he tells us the story of how Cash Flow Portal was started and what sets the software apart from its competitors from both a feature, and a DNA perspective. Perry goes on to tell us why he chooses content marketing over advertising and unpacks how Cash Flow Portal serves both syndicators and passive investors. We ask Perry about security, and he explains the iron-clad information security and permissions built into his software. Our episode concludes with a conversation about what it means to build a great team, and why Perry chose to build his team before his product. We hope you join in to learn from today’s inspiring guest!
Key Points From This Episode:
- Perry Zheng’s professional background working at Lyft, Twitter, and Amazon.
- The story of how Perry came to develop Cash Flow Portal.
- Unique features Cash Flow Portal offers: feature sets, and end-to-end integration.
- Why differentiating companies based on feature sets is ill-advised.
- Features that Cash Flow Portal is still developing: ACH integration, and HubSpot integration.
- Why Cash Flow Portal is different from a DNA perspective.
- Why Perry chooses content marketing over advertising and marketing.
- How Cash Flow Portal serves syndicators and passive investors.
- Information security and permissions on Cash Flow Portal.
- Perry’s Asset Management Superpower: building a great team.
- What it means to build a good team and why this comes before developing a product.
Links Mentioned in Today’s Episode:
Email Perry
Perry Zheng on LinkedIn
Perry Zheng on Twitter
Cash Flow Portal
Lyft
Todd Heitner
Apartment Investor Pro
Asset Management Mastery Facebook Group
Asset Management Mastery
Garzella Group
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Websites are a key piece in establishing credibility. It is not just enough to have an online presence though; your website should reflect who you are professionally. Todd Heitner’s company, Apartment Investor Pro, helps GPs create fantastic websites, leaving them more time to focus on things like deal sourcing and fundraising. In today’s episode, Todd walks us through the importance of a website, some key things to keep in mind when you hire someone to create one, and how websites bring people to you. Tune in today to hear it all!
Key Points From This Episode:
- Get to know today’s guest, Todd Heitner, and hear what his company, Apartment Investor Pro, does.
- Why it is so important to have a good website to establish credibility.
- A website provides many opportunities for marketing and automation.
- Important things to keep in mind when creating a good website.
- How having a website can help you attract capital rather than chase it.
- Final things for GPs to keep in mind when having someone create a website for them.
- What Todd’s asset management superpower is.
Tweetables:
“Everything kind of revolves around the website.” — Todd Heitner [0:02:19]
“When we think about the word authority, the base of this author and when you're authoring content, you’re perceived as an expert in the industry.” — Todd Heitner [0:04:05]
Links Mentioned in Today’s Episode:
Todd Heitner
Apartment Investor Pro
Asset Management Mastery Facebook Group
Asset Management Mastery
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Garzella Group
Welcome to Episode 65 of the Asset Management Mastery Podcast. Today, it’s just family. Your hosts, Kyle Mitchell and Gary Lipsky, are discussing their new book, Best In Class: How to Manage Your Multifamily Asset, Avoid Mistakes, and Build Wealth through Real Estate. There are plenty of books about investing in multifamily real estate, but few that tell you what to do with that property once you own it. Best In Class lays out everything you need to become a best in class operator, from marketing and leasing, managing renovations, and evaluating your property’s performance to financial analysis, managing the manager, and so much more! Creating better systems and taking control of your property while building wealth for you and your investors has never been easier, so make sure to tune in today to find out how!
Key Points From This Episode:
- Why Kyle and Gary decided to write this book.
- Some of the topics covered in the book, from due diligence and KPIs to disposition.
- Why it is so important to talk about the “unsexy” parts of real estate.
- What good asset management looks like, starting with being proactive versus reactive.
- Utilizing the information to make business decisions, not emotional decisions.
- Gary shares how he developed his asset management skills; having a thirst for knowledge.
- What differentiates good asset management from mediocre asset management.
- Who the book is for, from those just starting out to more experienced operators.
- Where to find the book, plus some of the resources you’ll gain access to when you buy it.
Tweetables:
“There's so much talk out there about finding the deal, but no one's really talking about what to do once you have a deal. This is so critical. It's not only the purchase price that you buy your property [at], but how you manage it.” — @garylipsky [0:01:38]
“No matter where you are in your journey, whether you're just starting out building a team or you're actually going through disposition, you can actually just flip to that chapter and read that chapter to get some insights and best practices on things to do.” — Kyle Mitchell [0:02:50]
“We're constantly pushing the envelope and educating our property management team on how to think differently about the property.” — @garylipsky [0:06:41]
“The difference between good asset management and mediocre [asset management] is that extra one percent or two percent on occupancy that actually drives 10 percent to 20 percent of profits.” — Kyle Mitchell [0:07:14]
Links Mentioned in Today’s Episode:
Best in Class
Asset Management Mastery Facebook Group
Passive Income Through Multifamily Real Estate Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
RedIQ
Garzella Group
There are a bunch of factors that contribute to closing deals with finesse and David Lagat joins us today to share his skills in this department.David is the Owner of Bella Asset Management, a vertically integrated company that does multifamily in Texas and the surrounding states. The last three months have been extremely busy for David; he closed on three deals in just a week recently, so we kick things off hearing just how he handles so many transactions in such a short period. David weighs in on the role of partnerships in helping him acquire the deals with ease. He talks about how he set up bank lines of credit and their use to him for nabbing deals quickly. In this conversation, David also gets into the place of KPI tracking, vertical integration, and a team filled with A players in his process of being such a skillful deal closer. Another important theme we touch on today is David’s plan regarding integrating his acquisitions into his portfolio so they perform optimally. So for all this and more about the systems needed to close deals as David does, tune in today!
Key Points From This Episode:
- Introducing David, his company Bella Asset Management, and the areas it focuses on.
- Partners and getting in at the right time; how David closes three deals per week.
- How David is going to integrate his new properties into his portfolio so they perform well.
- The three to five year hold time and David’s exit plan for the properties.
- David’s use of a bank line of credit and how he established the relationships to get it.
- The value of hiring great people for making assets perform at their best.
- Tracking KPIs and why David’s asset management superpower is his ability to be present.
- How to find David online and learn more about him.
Tweetables:
“We try to hire tens, you know? We try to hire people that will go above and beyond because they are the first line of defense.” — @davidla37853199 [0:05:13]
“Every single day we have the KPIs we track. It comes down to two main things, the delinquency and the occupancy.” — @davidla37853199 [0:05:59]
“Having accurate data and being able to allocate your marketing dollars best on the dollars you got, gives you an edge.” — @davidla37853199 [0:06:33]
Links Mentioned in Today’s Episode:
David Lagat
David Lagat on LinkedIn
Bella Asset Management
Asset Management Mastery Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
RedIQ
Garzella Group
If you are in the multifamily game and want to scale up, you should seriously consider becoming vertically integrated. The more you can bring the different processes involved in deal acquisition and property management in-house, the more seamless the processes that govern your business will become. Jacob Garza from REEP Equity doesn’t just own 2,700 units but does all his property management too, and he joins us today to educate listeners about the many benefits of this model. He gives us an idea of his journey in the multifamily space and then weighs in on the extra control he has over his properties thanks to the property management branch of his company. We hear Jacob’s tips for newer sponsors who would like to follow in his footsteps and he shares the approach he took regarding how he handled the property management side of things as he scaled his business. From there he gets into the seamless integration between himself and his teams from the moment of the broker tour all the way to the day they take over the property. Another great theme from this episode is the power of a brilliant team and Jacob talks about how thankful he is that his asset management superpower is hiring! So for all this and more, be sure to tune in today.
Key Points From This Episode:
- Introducing Jacob, his road into multifamily, and the units he currently has under management.
- Being vertically integrated and why Jacob decided to start his own property management company.
- Advice from Jacob for younger sponsors who want to start a property management company.
- Tight integration and the huge benefits of owning a property management company when buying new deals.
- How Jacob is organizing his property management team as he expands from San Antonio into Houston.
- Other vertical integrations in Jacob’s company such as construction and utility billing.
- Why Jacob is grateful that his asset management superpower is hiring!
- How to get in touch with Jacob online and learn more about his services.
Tweetables:
“I like building teams. I like putting strategy in place and if you have the right people, your executives reporting to you, it makes that job a whole lot easier, and fortunately, through this process of having our management company, we hired some really solid people.” — Jacob Garza [01:47]
“We don’t try to be experts at everything, right? We don’t do roofs, we don’t paint buildings, but we try to do some of the things that give us some scale up and we hire a person to do it.” — Jacob Garza [06:33]
Links Mentioned in Today’s Episode:
Jacob Garza on LinkedIn
REEP Equity
Jacob Garza Email
Asset Management Mastery Facebook Group
Passive Income Through Multifamily Real Estate Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Garzella Group
Virtual Asset Management Summit 2021
The Texas freeze of 2021 had a huge array of impacts on the population, the economy, and of course the real estate world. Joining us on the show today to unpack some of these results is Omar Hernandez of the Garzella Group, an insurance brokerage firm based in Scottsdale, Arizona. Garzella deals with commercial real estate from all over the US and focusses on partnering up with local banks to bring extra coverage to investors entering into deals. Omar gives us a brief overview of the basics of the Texas freeze and the most relevant information that pertains to real estate and multifamily, talking about damages such as frozen pipes and the electrical grid failures, as well as the costs of tenant displacement. He shares some of the staggering numbers associated with insurance claims during this period and talks about how this may impact the market going forward. Ultimately the events in Texas this year serve as a warning and a lesson for what is possible, and should not be taken lightly, so tune in to hear it all!
Key Points From This Episode:
- The impacts of the 'Texas freeze' that occurred this year!
- Timelines for claims, the inspection process, and what to expect.
- The evolving numbers for the insurance claims that have come through this year in Texas.
- Compounding effects of the freeze occurring in tandem with the pandemic.
- Looking to the future of insurance of multifamily in Texas as a result of the freeze.
- The effects further afield in different markets across the country.
- What makes a good insurer when navigating the current climate?
- Omar's opinion on the most valuable lessons to take forward from the Texas freeze.
- The importance of taking into account investors' interests and increasing NOI: Omar's superpowers!
- Where to find and connect with Omar online!
Tweetables:
“We're going to see a shift in which carriers want to jump in and support the Texas market.” — Omar Hernandez [06:20]
“The climate change is going to continue. We now know this.” — Omar Hernandez [09:21]
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Passive Income Through Multifamily Real Estate Facebook Group
Omar Hernandez on LinkedIn
Garzella Group
Omar Hernandez Email
Multifamily Risk Advisors
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Virtual Asset Management Summit 2021
Financial independence and greater control of how our money can work for us might seem very attractive, but how exactly do we go about making this a reality? Joining us on the show today to talk about his approach to having a better handle on the way we interact with our money and deal with our investments, is the amazing Mark Willis from Lake Growth Financial Services. We get to hear from Mark about his career in the space, the early challenges he faced with the fall-through of the 2008 financial crash, and how he managed to weather that storm to build his current status. Mark talks to us about leveraging life insurance and the vital importance of contracts, underlining how the right strategies can set us up for a different kind of success. We also get into a bit of what Lake Growth does for their clients and their investment philosophy in a broad sense. For all this and more from a great guest, be sure to tune in today!
Key Points From This Episode:
The last eleven years in the business and how Mark got past the 2009 speedhump.
- Troubles with banks and how to become more independent financially.
- Applying these leveraging strategies to bigger investments and portfolios.
- Rate of return versus rate of income; which to prioritize.
- Mark's advice for predictable and safe investments for smooth wealth creation.
- A breakdown of the real estate strategies and guidance that Mark and his team offer.
- Why Mark believes controlling the money environment is a superpower!
- Where to find Mark and learn more about his amazing service.
Tweetables:
“I was dropped into the frontlines of a war, you might say, in 2009, when I started working in finance, and I saw the house of cards come tumbling down, unfortunately, for a lot of the CPAs clients that I worked for at the time.” — Mark Willis [01:07]
“I could either leave the industry and go work at McDonald's or something or figure out a strategy that wouldn't rely on Wall Street as a primary means for us meeting our financial objectives for my clients.” — Mark Willis [01:21]
“Having the contract is really the basis of civilization. It's the basis of real wealth. The contract really is the basis of any financial plan.” — Mark Willis [07:54]
Links Mentioned in Today’s Episode:
Mark Willis on LinkedIn
Lake Growth Financial Services
Mark Twain
GameStop
Asset Management Mastery Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Garzella Group
Virtual Asset Management Summit 2021
More than anything, good property management is about good people. No one knows that better than today’s guest, Tom Shelton, of Asset Living. In this episode, Tom walks us through what to look for when finding a property management company and sheds light on how operators can build strong relationships with this key part of their team. Tom talks about the importance of being on the same page, having aligned strategies, and ensuring you are all moving in the same direction. Your relationship with your property manager should be a collaborative one. We also dive into some exciting technological advances in the space and why it is crucial to be a good listener. Tune in to hear it all!
Key Points From This Episode:
- Get to know Tom, his background in real estate, and what he is currently doing.
- Some of the important factors that contribute to a great property management company.
- Best practices when it comes to building a strong partnership with a property management company.
- Changes that are imminent in the property management space.
- Tom’s advice for new operators: be flexible and open to changes along the way.
- Why Tom believes his asset management superpower is his ability to listen.
Tweetables:
“This is a people business, even though it’s a lot of focus and attention on the real estate and the sticks and bricks if you will, but it really takes people to really make a difference. People that are focused and are committed or passionate about what they do.” — Tom Shelton [0:02:59]
“I think I’m a really very good listener. I think you have to be able to listen to your client.” — Tom Shelton [0:09:41]
“You need to listen to what your clients say, listen to what their goals are, listen to what they want to achieve. Sometimes conversations are difficult, but you gotta address issues and address problems and I think that’s a real key.” — Tom Shelton [0:10:04]
Links Mentioned in Today’s Episode:
Tom Shelton on LinkedIn
Asset Living
LeaseHawk
Asset Management Mastery Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Garzella Group
Virtual Asset Management Summit 2021
Working with property managers is not always easy. It involves setting clear expectations upfront and having difficult conversations at times. Kaylee McMahon does not shy away from these talks because she knows what is at stake. Kaylee is known as The Apartment Queen, and after today’s episode, you will understand why! We sit down to talk about her criteria when hiring a property manager, the importance of having strong project management skills, and how to transition from one property manager to another. We could all do with learning more about how to work better with our property managers, so be sure to tune in today!
Key Points From This Episode:
- Get to know Kaylee and what she is currently focused on.
- What makes a good property manager, according to Kaylee.
- The importance of good property management skills and the tools which Kaylee uses.
- Some of the reasons Kaylee has fired property managers in the past.
- Kaylee’s good and bad experiences of transitioning between property managers.
- Why your property managers mustn’t have access to your account.
- Kaylee’s asset management superpower: having tough conversations.
Tweetables:
“I like to treat people how I want to be treated, I’m in real estate, commercial real estate to be specific.” — Kaylee McMahon [0:01:01]
“Just set expectations upfront.” — Kaylee McMahon [0:05:53]
Links Mentioned in Today’s Episode:
The Apartment Queen
Trello
Asset Management Mastery Facebook Group
Passive Income Through Multifamily Real Estate Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Garzella Group
Virtual Asset Management Summit 2021
In today’s episode, Gary and Kyle talk about the 42-unit midtown asset they recently sold in Tuscon. We hear about how they took the property from barely surviving to thriving, and the upgrades they chose to make. Gary and Kyle do not only look for rehab opportunities; they also look for chances to upgrade operations. We find out what surprised them when they tweaked the building and the rationale behind them pivoting and selling the property. As the conversation wraps up, we learn about some of the difficulties they were faced with when trying to sell the property and the value in coming back to your business plan time and again. Tune in to hear it all!
Key Points From This Episode:
- Kyle and Gary’s original business plan and why they look for operational inefficiencies.
- How Kyle and Gary addressed the safety concerns on the property.
- The most surprising thing that happened after all of the upgrades and rent raises.
- If you are making a place better to live in, residents won’t mind paying more.
- The reason behind why Kyle and Gary decided to pivot.
- Hear about some of the obstacles that came with trying to sell the property.
- Why it is important to continually reassess your business plan.
Tweetables:
“Operational efficiencies create more value than just an interior rehab.” — Kyle Mitchell [0:01:26]
“The deal is never done until you actually close. You got to run it all the way to the very end.” — Gary Lipsky [0:10:40]
“It’s important to always reassess your business plan year over year.” — Kyle Mitchell [0:12:00]
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Passive Income Through Multifamily Real Estate Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Garzella Group
Virtual Asset Management Summit 2021
As an owner, you always want to be lowering your operating costs. One underutilized mechanism to boost NOI is water conservation. Here to shed light on this topic is Kelly Stinson. Kelly is partnered with SAS, an organization that focuses on water efficiency and reducing water-related expenses in multifamily operations. In today’s episode, we hear about how SAS helps owners save money and the process they undertake to minimize costs. Kelly shares the benefits of working with a business that is dedicated to water conservation. Our conversation also touches on underwriting, pushback around low-low flow toilets, and why all investors should care about saving water. Tune in to hear it all!
Key Points From This Episode:
- Get to know Kelly, the work she does, and what SAS’s focus is.
- How Kelly got partnered with SAS; she didn’t know she would get into multifamily.
- Insights into how SAS goes about saving costs for owners.
- The typical amount that Kelly saves owners.
- How partnering with SAS is different from owners trying to go about water conservation alone.
- The benefits of saving water costs, particularly when you want to refinance.
- Why passive investors should care about water conservation in their investment properties.
- Water efficiency is an important line item in underwriting.
- Why the pushback against low-flow toilets is unwarranted.
- SAS’s country-wide scope and the permits that some states require.
- Kelly's final words around water conservation; know the numbers!
- Find out what Kelly’s asset management superpower is.
Tweetables:
“I’m saving our world’s most precious resource, we’re boosting asset values for our owners, helping distributions. What could be better?” — Kelly Stinson [0:01:48]
“On average, I am reducing that water expense line anywhere from 20-40%.” — Kelly Stinson [0:04:12]
“Know the numbers.” — Kelly Stinson [0:14:41]
Links Mentioned in Today’s Episode:
Kelly Stinson
Sustainability Solutions
The Original Stealth
Asset Management Mastery Facebook Group
Passive Income Through Multifamily Real Estate Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Garzella Group
Virtual Asset Management Summit 2021
Refinancing properties is no easy feat. However, when done properly, both syndicators and investors can reap the rewards. Joining us today is Steve Louie, a partner at Vertical Street Ventures, a syndication firm focused on the Phoenix area. In this episode, Steve sheds light on the two properties the firm refinanced, how they did it, and what the benefits for the investors were. Not only did the investors increase their investment, but cash-out refinances are not taxed, so their money was safe. Steve also shares why he recommends using a mortgage broker when undertaking a refi. Be sure to tune in today to hear it all!
Key Points From This Episode:
- Get to know Steve and what his company, Vertical Street Ventures does.
- Details about the two properties Vertical Street refinanced.
- The implications of a refi for an investor with Vertical Street.
- Find out the biggest lessons Steve learned doing the refi.
- Why Steve’s asset management superpower is being a master connector.
Tweetables:
“We were able to refinance the property at literally double our purchase price on one of them.” — Steve Louie [0:03:01]
“The nice thing about cash-out refinances is there’s no tax consequence that happens because it is a return of their actual capital.” — Steve Louie [0:03:25]
“I do a pretty good job of connecting the right people at the right time.” — Steve Louie [0:06:54]
Links Mentioned in Today’s Episode:
Vertical Street Ventures
Steve Louie on LinkedIn
Steve Louie Email — steven@verticalstreetventures.com
Steve Louie Phone Number — 714-496-6436
Asset Management Mastery Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Garzella Group
Virtual Asset Management Summit 2021
Asset management is such a huge piece of real estate investing that is not talked about enough. We need to continue to push resources and information about asset management out there so that people can continue to learn about it! Today on the show, we have our very own Gary Lipsky and Kyle Mitchell, and we have some news to share today! We are excited to announce that we will be launching our course, Asset Management Mastery, on May 3rd, 2021! Join in today as we talk all about what the course is, who it has been created for, the heart and mission behind it, and more on our FREE Asset Management Summit coming on June 21st, 2021! Stay tuned for all this, and more, in today’s episode.
Key Points From This Episode:
- The inspiration behind Asset Management Mastery Course and why it was created.
- Who the course is for: those who currently own or would someday like to own property.
- Why it is critical that you understand what good asset management looks like.
- A few tips about what a passive investor should know and what questions to ask to properly vet your potential sponsor.
- Outcomes associated with the course, like leaving confident enough to be successful.
- The cost and structure of the course: seven weeks, two hours a week, and a special offering.
- Topics to be included in the course: everything from due diligence to disposition!
- Hear about the FREE Asset Management Summit, coming June 21st, 2021.
- Speakers and topics to be covered at the summit, like Brian Burke on refinancing, Neil Boa on data, or Ashley Wilson on construction management.
- Kyle speaks about the Q&A and the benefits of participating in it (at the summit).
- More about the Whova App and how we are utilizing that during the summit.
- We share the different sponsors of the summit this year.
Tweetables:
“We want to help investors and operators become best-in-class. The only way to do that is delve into all the different aspects of asset management, and that’s what we do in [our new Asset Management Mastery Course].” —@garylipsky [0:01:20]
“Even if you took away one tidbit from [our] course, that would pay huge dividends because that’s how powerful good asset management can be.” —@garylipsky [0:04:00]
“Asset management is such a huge piece of investing in real estate that is not talked about enough. It needs to continue to be pushed out there and people need to continue to learn about it! ” — Kyle Mitchell [0:11:08]
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Asset Management Summit 2021 Sign-Up
Whova App
Garzella Group
New laws are coming into effect that impacts how you raise capital and who you can bring onto deals as accredited investors. To explain these changes, we welcome syndicator and securities lawyer Gene Trowbridge back onto the show. After chatting about his professional history, we dive into the topic, with Gene unpacking why spousal equivalence is a game-changer for many couples who want to invest. He then reflects on how the new legislation will affect the family office and 401(k) world before. Later, we touch on why you shouldn’t be concerned over ‘finder’s-fees’ legislation proposals, the importance of due diligence, and how changes to integration rulings might endanger your deals. Gene wraps up our conversation by highlighting why he only signs onto deals that can survive without its sponsor. Tune in to hear the latest SEC rules from expert lawyer Gene Trowbridge.
Key Points From This Episode:
- Find out about securities lawyer and today’s guest, Gene Trowbridge.
- Gene unpacks the new legislation around raising capital.
- Insights into how many more households can now be accredited investors.
- Why we shouldn't be concerned about ‘finder’s-fees’ legislation proposals.
- The importance of doing due diligence, especially in light of changing legislature.
- How the new integration rulings affect your deals.
- Gene talks about his asset management superpower.
- Why Gene looks for continuity before investing in any deal.
Tweetables:
“The government did say that their legislation will increase the number of accredited investor households in the United States up to 16 million.” — Gene Trowbridge [0:04:18]
“There are gurus out there talking about the new legislation. They don’t understand it and they are giving people bad advice.” — Gene Trowbridge [0:07:30]
“Make sure you have continuity in your asset management structure to protect your investors and to protect your asset.” — Gene Trowbridge [0:12:37]
Links Mentioned in Today’s Episode:
Gene Trowbridge on LinkedIn
Gene Trowbridge Email
Trowbridge Law Group
Trowbridge Law Group on YouTube
Asset Management Mastery Facebook Group
Passive Income Through Multifamily Real Estate Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
RedIQ
Garzella Group
You’re missing out on huge profits if you don’t have an exit plan in place when you buy a property. Today we speak with real estate veteran, coach, and expert strategist Mike Morawski about maximizing your profits through solid exit strategies. After chatting about his extensive real estate background, Mike reveals his transition into helping people to scale their businesses while living a better quality and balanced lifestyle. We then dive into why exit plans are key to making money. Linked to this, Mike discusses how important underwriting is to figuring out what your options are with any particular asset. He shares his top advice on planning your exit, including how you can profit at the end of a project cycle without losing control of your asset. Later, he touches on what the best time to sell is, why you should never scale your business too quickly, and why looking at the right KPIs is critical to success. Everyone gets excited about owning assets but few can make the most money out of it. Tune in to learn about maximizing your earnings by having an exit plan for your assets.
Key Points From This Episode:
- Learn about today’s guest, real estate expert Mike Morawski.
- How everyone learns how to get into a business but never how to exit one.
- Capitalizing on when your project is at its most profitable.
- Mike shares his top lessons on going through a project’s full cycle.
- Ways to profitably exit a project cycle without losing control of your asset.
- Knowing when the best time to sell is.
- Why you should never scale your business too quickly.
- Hear about Mike’s asset management superpower.
Tweetables:
“Everybody taught how to get in the business, how to buy an asset, how to find an asset, how to manage an asset but nobody taught us how to get out — or a strategy around that.” — @MikeMorawski2 [0:02:06]
“You take your profit when your profit is there.” — @MikeMorawski2 [0:08:04]
“Investors get way too excited about the market and being able to buy any asset. And they don’t look at the price point that they’re at.” — @MikeMorawski2 [0:09:58]
Links Mentioned in Today’s Episode:
Mike Morawski on LinkedIn
Mike Morawski on Twitter
Mike Morawski Email
Exit Plan
My Core Intentions
Asset Management Mastery Facebook Group
Passive Income Through Multifamily Real Estate Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
RedIQ
Garzella Group
Today we speak with Brock Mogensen about the mistakes he made as a rookie real estate investor, and how he has developed his processes to iron our potential problems in the future. To kick things off, we ask Brock to share a little on his professional history and his first deal. He touches on the importance of due diligence, and why it is important to meet with tenants on-site. Following this, Brock tells how he and his partners managed a 50% eviction rate and why they avoided a capital call. Later in the show, Brock tells us why it is important to know how to perform asset management yourself, and why you shouldn’t leave it up to property management companies. Before we say goodbye to Brock, we ask him to tell us about his asset management superpower and how it helps him. To hear more on overcoming beginner mistakes and how to create success in real estate, be sure to join us today!
Key Points From This Episode:
- Introducing today’s guest, Brock Mogensen.
- Brock shares his background and professional history.
- Hear Brock’s take on due diligence and the errors he’s made over the years.
- How Brock got through 50% evictions in his first deal.
- How Brock’s team coped without doing a capital call.
- The biggest lesson Brock learned from his first deal.
- The experience that gave Brock the edge to come up with solutions quickly.
- Brock’s asset management superpower.
Tweetables:
“Every time you go through due diligence — we kind of think of some stuff that could possibly be added and are always finding our list of topics to go through. It’s just an extensive process.” — Brock Mogensen [0:02:43]
“The past year, we turned it around and it’s now gone from the problem property on the block to the best one.” — Brock Mogensen [0:03:47]
“I’ve learned that asset management is really what makes the returns.” — Brock Mogensen [0:05:45]
Links Mentioned in Today’s Episode:
Brock Mogensen
Brock Mogensen on Instagram
Asset Management Mastery Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
RedIQ
Garzella Group
One of the great things about investing in real estate is that the returns you get from a property can come from so many different places. Today’s guest is Guido Nunez and he joins us to talk about all the creative ways he has boosted his net operating income to take home bigger profits at the end of the day. Our conversation with Guido centers specifically around the strategies he has implemented on his 16-unit in South California. He kicks things off by sharing how he has utilized government rebates to save money on his value add and increase CapEx too. Next up, we drill down on how Guido is leveraging economies of scale by partnering with nearby services, and how he has managed to raise his rents by offering pet-friendly and refrigerator rental services to tenants who need them. Tune in to hear some actionable and creative strategies from today’s great guest that you can use to bump up your NOI on your next deal!
Key Points From This Episode:
- A quick intro on Guido and the real estate he has under management.
- How Guido found out he could get rebates while revamping his 16-unit in South California.
- The process of applying for rebates and how much Guido ended up saving.
- CapEx benefits provided by the low-flow toilets Guido got rebates for.
- Tips from Guido about looking for rebates and how to apply.
- How Guido is leveraging economies of scale to save money through collaboration.
- Pet-friendly value adds Guido has done to boost prospects for new tenants.
- Another competitive advantage Guido found by renting refrigerators to tenants.
- Guido’s asset management superpower.
- How to get in touch with Guido online.
Tweetables:
“We saved about $3000 on low-flow toilets. We saved about 35% on the water utility bill.” — Guido Nunez [0:02:35]
“You have to be unafraid to go up to everybody and anybody any time you think they could help you with your circle of operations.” — Guido Nunez [0:04:32]
“Every time we put out market information we make sure we advertise pet-friendly. From that end, we always boost up the number of prospects we get.” — Guido Nunez [0:06:24]
Links Mentioned in Today’s Episode:Guido Nunez on Linkedin
Asset Management Mastery Facebook Group
Passive Income Through Multifamily Real Estate Facebook Group
Free Call with Kyle or Lalita
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
RedIQ
Garzella Group
When it comes to value-add strategies, spending your CapEx budget on features that will boost your NOI as much as possible is a must. Today’s guest is Sandhya Seshadri and she joins us to talk about the amazing value-add strategy she implemented on her 86-door property in Cleburne. Since purchasing the property in 2019, Sandhya and her team have been able to upgrade the property significantly using their CapEx budget, and are seeing big gains to their NOI as a result. Our guest begins by sharing some of the specs relating to the purchase of the property. Then we hear about upgrades Sandhya and her team made to the interior and exterior of the property, and some energy-saving features that were added as well. Sandhya shares figures about how these additions boosted NOI by allowing rent raises and savings on utilities too. Wrapping up, Sandhya weighs in on how her gift for building relationships with her property management team helped her value add strategy run even more smoothly. Tune in today!
Key Points From This Episode:
- Introducing Sandhya and her journey from electrical engineering into real estate.
- Specs on Sanhya’s 86-door property in Cleburne; purchase price, CapEx budget, and more.
- The value-add strategy Sandhya used on the property and how it helped her raise rents.
- How the patios that Sandhya added to her townhouses impacted her NOI.
- Whether Sandhya did the renovations all at once or in stages and why.
- Energy conserving adjustments Sandhya made to the property and their effect on NOI.
- Sandhya’s superpower: Building relationships with her property management company.
- Incentives Sandhya offers to different people in her property management company.
- Where to find out more about Sandhya and connect with her online.
Tweetables:
“At a $15K per year of direct impact to the NOI on a six cap, you’re talking $250K impact.” — Sandhya Seshadri [0:03:45]
“Overall, after implementing all of these changes, our cost was under half a million, more like $440K or so, and we’ve realized $2.3 million in impact to our NOI.” — Sandhya Seshadri [0:06:47]
Links Mentioned in Today’s Episode:
Sandhya Seshadri
Asset Management Mastery Facebook Group
Passive Income Through Multifamily Real Estate Facebook Group
Asset Management Mastery
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
RedIQ
Garzella Group
Employing foreign investor capital could suit your syndication perfectly, but there are some differences in the process compared to working locally. A basic foundation of knowledge will therefore be very beneficial to have so that you can know what to expect before choosing this option. Today’s guest is Charles Carillo and with his extensive experience in working with international investors, he is the perfect guest to give you all the tips you need. Charles is the founder and managing partner of Harborside Partners. He has invested in over $25 million worth of real estate, in several states, and has extensive knowledge in renovating and repositioning multifamily and commercial real estate. In our conversation with Charles, he tells listeners how he connects with foreign investors through his podcast before weighing in on a few of the main differences between raising from people overseas versus in the US. He then talks about the many benefits of working with foreign investors and from there, shares his knowledge about the legal sides of the process. For all this and more about Charles and his asset management superpower, be sure to tune in!
Key Points From This Episode:
- An intro into Charles, how he got into real estate, and what he likes to invest in.
- How Charles built up his database of international investors.
- Downsides of working with international investors and how Charles gets around them.
- Plus sides of working with international investors relating to their expectations.
- Legal considerations for syndicators before taking international investor money.
- Challenges Charles has experienced since working with foreign capital.
- Why Charles’s asset management superpower is tackling small problems before they get bigger.
- Where to find out more about Charles and what he does online.
Tweetables:
“It’s more for security of capital. International investors are looking to spread it over. Protecting of their investment is number one.” — @CharlesKCarillo [0:05:58]
“Make sure your accountant that is handling all of your K1 generations and all your payouts for distributions for your syndication knows what they are doing and has worked with some type of international investor before.” — @CharlesKCarillo [0:07:21]
Links Mentioned in Today’s Episode:
Charles Carillo
Charles Carillo on Twitter
Call Charles Carillo
Global Investors Podcast
Harborside Partners
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
RedIQ
Garzella Group
Welcome to the Asset Management Mastery Podcast. This show focuses on educating syndicators and apartment owners on how to build systems and manage their properties more efficiently to become best-in-class operators. In today’s show, Gary interviews Kyle about their most recent acquisition in Tucson to take listeners behind the scenes on how they look at markets, opportunities, and executing a business plan. The interview starts with Kyle sharing the merits of the Tucson market and why he and Gary decided to broaden their focus from Phoenix to include it. From there, Kyle gets into some of the factors that he thinks about before scooping up a new deal. After that, we hear about the business plan Kyle and Gary have come up with for their new property, the timeline of its execution, and the different ways it will make their recent acquisition as successful and lucrative as possible. Wrapping up, Kyle shares some of the biggest challenges about the deal so far before telling listeners all about this asset management superpower. Tune in today!
Key Points From This Episode:
- Why Kyle Likes the Tucson market so much; high job diversity and value ad opportunities.
- Key factors about the new deal that lead Kyle and Gary to purchase it.
- The quality of operational efficiencies Kyle and Gary look for in a new property.
- An opportunity to raise the capped rents due in the new property.
- Key things Kyle is focusing on for the next six months of the business plan.
- How Kyle is communicating with tenants and investors in the next few months.
- Savings that are being made in the business plan in four different ways.
- Challenges faced and how they are being overcome in the new property.
- Why Kyle’s asset management superpower is attention to detail.
Tweetables:
“One of the things we look for in a new property are operational inefficiencies.” — @aptcapitalgroup [0:03:35]
“It’s really important to get out of the gate running, and if you wait until you close before executing your business plan, you’re going to come out of the gate slowly walking, if that.” — @aptcapitalgroup [0:05:04]
“I’m a very detail-oriented person and I like to catch the smallest stuff, and I think that helps us in our overall business plan execution.” — @aptcapitalgroup [0:10:42]
Links Mentioned in Today’s Episode:
Free Call with Kyle or Lalita
Kyle Mitchell on LinkedIn
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
RedIQ
Garzella Group
For over a decade, Andrew Cushman has been growing real estate investment businesses full-time. Starting off with single-family properties in the depths of the Great Recession, Andrew completed 27 single-family flips, all of which were profitable. In 2011, he transitioned to the acquisition and repositioning of multifamily properties and now acquires B-class, value-add properties throughout Texas and the Southeast United States. In total, Andrew and his team have acquired and repositioned over 2,000 multifamily units to date and, of course, each one of those units requires property management. In this episode, you will hear Andrew's experience of managing the property manager, from finding and hiring a third-party property management company to the biggest challenge he has faced in working with a property management company, and he also shares his best practices and talks about his asset management superpower. Tune in today!
Key Points From This Episode:
- Find out a bit more about Andrew and what he does
- Best practices for finding and hiring a third-party property management company.
- Making sure that your type of asset is what the company is best as managing.
- Why great property management companies are discerning about who they work with and have your best interests in mind.
- The biggest challenge Andrew has had with a company: managing renovations.
- Learn why Andrew has had to fire a property management company before.
- Andrew’s best practices for managing the manager, like weekly calls with everyone, including the maintenance technician.
- Andrew’s asset management superpower is being actively involved without micromanaging.
Tweetables:
“The wrong management can turn a great deal bad in no time.” — Andrew Cushman [0:03:36]
“Do the best you can to find out if the people in the [property management] company have created a culture of integrity.” — Andrew Cushman [0:07:39]
“Our asset management superpower is being able to partner with our third-party management in somewhat of an unusual way, to get everybody on the same team and function as if it was in-house and vertically integrated.” — Andrew Cushman [0:11:52]
Links Mentioned in Today’s Episode:
Andrew Cushman on LinkedIn
Andrew Cushman on BiggerPockets
Vantage Point Acquisitions
The Multifamily Accelerator Mastermind
Asset Management Mastery
Asset Management Mastery Facebook Group
RedIQ
In today’s segment, we focus on building better systems and becoming best-in-class real estate operators. Our guests, Ed Sittler and Perry Zhang, walk us through the ins and outs of their latest deals and share insider tips along the way. We open the show by hearing about Ed and Perry’s professional history and get up to speed with their most recent CapEx development. Ed reveals some of the immediate challenges he and Perry faced, as listeners find out how the two were tasked with making a building habitable again. Perry expands on this and tells us about the different lenders and players which made their success possible. Yet, there is an important sequence to all this. One might have all the right ingredients, but if you don’t follow the recipe, failure will be your result. In light of this, Perry details his entire process, referencing each player and what their role is. Adding to this, Ed shares valuable information about how you can keep your contractors accountable and why jobs are never perfectly executed the first time around. To conclude the show, we hear the pair’s three biggest lessons from CapEx projects and why digging for detail and a big-picture mindset are their complementary asset management superpowers. To find out more, be sure to join us today!
Key Points From This Episode:
- Introducing today’s guests, Perry Zhang and Ed Sittler.
- Both Ed and Perry give a small breakdown of their professional backgrounds.
- Ed tells us about his $1.4 million CapEx deal in Dallas.
- What it was like working with different lenders and players.
- Hear about the sequencing of their projects.
- How they hold their contractors accountable for the work they’re doing.
- Lessons they’ve learned from their CapEx projects.
- How to approach escrowing and LPs.
- What Ed and Perry’s asset management superpowers are.
- Important information about our podcast and where we will be moving to.
Tweetables:
“The first key move is to come up with a business plan. Plan the renovation ahead as much as possible.” — Perry Zhang [0:06:54]
“Gates are super important, especially for C-class properties. You can get a lot of vagrants that you don’t want on the property.” — Ed Sittler [0:05:25]
Links Mentioned in Today’s Episode:
Perry Zhang on Facebook
Ed Sittler on Facebook
Ed Sittler email
Lyft
RedIQ
Amazon
Brandon Martinez
City Gate Property Management
Asset Management Mastery
Passive Income Through Multifamily Real Estate Facebook Group
Free Call with Kyle or Lalita
Preferred equity is not something you tackle when starting out as a new syndicator. It comes with a large amount of added paperwork, legalities, due diligence, and much more. Today on the show we talk to a leader in this field, Ellie Perlman, founder of Blue Lake Capital. Ellie has over 10 years of experience in real estate investment, law, and property management. She started her career in Israel as a commercial real estate lawyer, leading commercial real estate transactions for Israel’s largest development company. Later, as a property manager for one of Israel's most prominent oil and gas companies, she oversaw properties worth over $100M. Ellie leads Blue Lake Capital, which owns and manages multifamily properties across the U.S., with a focus on Texas, Florida, and Georgia. At Blue Lake, Ellie oversees the acquisitions and asset management of the company's portfolio. She is a Forbes author on real estate investing, the host of the podcast “REady2Scale,” and an avid real estate investing blogger. Ellie holds an MBA from MIT Sloan School of Management and a Bachelor's and Masters in Law from Bar-Ilan University in Israel. Stay tuned as we dive into what pref. equity means, the pros and cons thereof, tips on doing your first pref. equity deal, and more, with Ellie Perlman!
Key Points From This Episode:
- Ellie shares more about herself and her background in real estate.
- She explains what pref. equity is and when one would use it.
- How investors feel being in 3rd position when returns are paid out and how she combats this.
- Ellie goes over some of the pros and cons of using pref. equity.
- Ellie’s advice for doing your first deal with a pref. equity group.
- How to deal with net worth and liquidity when working with pref. equity groups.
- Whether or not Ellie would use pref. equity groups again in the future and why.
- Ellie’s asset manager superpower: Attention to detail.
Links Mentioned in Today’s Episode:
Ellie Perlman on LinkedIn
Ellie Perlman on Twitter
Ellie Perlman
Blue Lake Capital
Passive Income Through Multifamily Real Estate Facebook Group
RedIQ
Joining us for this Asset Management Friday segment is Justin Fraser, host of the True Multifamily Podcast and syndicator at 88 Real Estate Capital. In our conversation, we get to hear about Justin's role at the firm and the most recent deal they completed before we dive into our focus of hardening assets and what this means for syndicators. Justin explains what an important part of the real estate game this is, strengthening parts of assets and investments that might cause problems down the road. He explains the simple steps that he and his team take early on with a property and how these easy measures can save a lot of time, money, and trouble for you! Justin also talks about the data he analyzes in this regard, emphasizing crime stats, and the monitoring of repair and maintenance costs. One of the big takeaways that Justin gives us is about how to spend money and his philosophy is one of never cutting corners and getting things done early for everyone's benefit. He also shares his thoughts on what it means to build and maintain healthy relationships with everyone involved with a property, and the amazing results this can facilitate. For all this and more, be sure to listen in with us!
Key Points From This Episode:
- Justin's work in multi-family syndication and asset management and a look at his current portfolio.
- Unpacking the idea of hardening your asset and why it is so important.
- Some examples of methods for hardening assets.
- The dangers that face syndicators who do not harden their assets!
- The data points that go into this process; crime statistics, and repairs and maintenance costs.
- Mindset around spending money wisely and doing things properly the first time.
- Justin's asset management superpower: managing a diverse set of relationships!
- How to find and connect with Justin online, and where to listen to his podcast.
Tweetables:
“My job day to day on the team is asset management. I focus on writing the business plan and running and executing it so that we can deliver results to our investors and make the property a great place to live for our tenants and residents.” — Justin Fraser [0:01:20]
“We want them to be great, qualified tenants before they even get in the door which is the best way to prevent them from messing up your units and to keep your assets strong.” — Justin Fraser [0:02:07]
Links Mentioned in Today’s Episode:
Justin Fraser on LinkedIn
True Multifamily Podcast
88 Real Estate Capital
Passive Income Through Multifamily Real Estate Facebook Group
RedIQ
Welcome to another Asset Management Friday’s Edition of the Passive Income Through MultiFamily Real Estate Podcast. Today’s guest on the show is Veena Jetti, who is the founding partner of Vive Funds, a unique commercial real estate firm that specializes in curating conservative opportunities for investors. Veena is also a multifamily owner-operator, real estate investor, and entrepreneur with over 10 years of real estate experience. She brings a dynamic perspective to targeting, acquiring, managing, and operating assets using best practices combined with cutting edge technologies, and her professional expertise includes driving corporate strategy and business development opportunities. In this episode, Veena addresses the capital side of asset management, talking about investor experience and engagement, and she asserts the importance of being transparent and over-communicating with investors, especially during times of uncertainty. Tune in to find out more!
Key Points From This Episode:
- Veena introduces herself, and shares a bit about her background and her business.
- What the capital side of asset management means to Veena – it’s about investor experience.
- How Veena keeps investors engaged, both on a month-to-month basis and annually.
- One of the questions Veena consistently receives from investors revolves around K1s.
- Overseeing every aspect of asset management, from capital raise to investor relations.
- Veena’s advice as an experienced operator is to over-communicate with investors.
- Why being transparent is Veena’s asset management super power.
Tweetables:
“What about the capital management side of the asset management? For me, what that is is the investor experience beyond agreeing, and committing, and funding a deal, what happens through the five-year hold period? How does that communication occur, how is that investor experience? Is it good enough that they’re now wanting to invest with you on your next project that might be running concurrently with an open project?” — @veenajetti [0:02:24]
“We invest alongside every single one of our investors. It is our money just as much as theirs, and being able to communicate that, and share what is happening and how you are handling the situation in a way that is appropriate and is reassuring for your investors, I think that’s the most important thing.” — @veenajetti [0:09:43]
Links Mentioned in Today’s Episode:
Veena Jetti on Twitter
Veena Jetti on LinkedIn
Veena Jetti on Instagram
Veena Jetti on Facebook
Vive Funds
RedIQ
Knowledgeable and passionate about all things real estate and with a keen eye for detail, Ashley Wilson, Founder of Bad Ash Investments, joins us on the show today to discuss topics ranging from construction management to COVID-19 to capital reserves. Before Ashley became a real estate investor over 10 years ago, she was involved in vaccine development. Her knowledge of pandemics meant that in the very early days of COVID-19, she had the foresight to take actions which helped keep her business afloat. Ashley stresses the importance of always having cash reserves and being attuned to what is going on in the real estate market because of the fast-changing nature of the sector. She also shares with us what's most important when it comes to managing projects, how COVID-19 has changed housing preferences, the processes that she makes use of to make sure her projects are going according to plan, along with experiences she has had when the opposite has happened. This episode is packed full of important insights, so be sure not to miss it!
Key Points From This Episode:
- Ashley’s three top tips to remember when getting involved in a rehab project.
- Why it’s important to have someone on your team who has construction knowledge.
- How the COVID-19 pandemic has changed people’s housing preferences.
- The importance of being attuned to the market because things are changing all the time.
- Trust and leveraging technology are must-haves when it comes to construction projects.
- Processes Ashley utilizes to hold the companies that she works with accountable.
- The two main components of construction: Labor and materials.
- How Ashley’s vaccine development knowledge helped her prepare her real-estate business for the COVID-19 pandemic.
- Why companies should always have capital reserves.
- Ashley shares some personal experiences of what can go wrong in her line of work.
Tweetables:
“Time is money in multifamily and taking an interior renovation and going a week versus a two-week renovation period can be a dramatic change to your cash flow.” — Ashley Wilson [0:02:31]
“Your boots on the ground are going to be your make or break in terms of your success on being able to execute a project.” — Ashley Wilson [0:03:04]
“No matter what reason it is, whether it’s COVID or anything else in the future, maybe a natural disaster, etcetera, you should always have reserves.” — Ashley Wilson [0:10:04]
Links Mentioned in Today’s Episode:
Bad Ash Investor
redIQ
Ashley Wilson on Instagram
GlaxoSmithKline
Scaling is probably one of the ultimate goals of any business, so it’s important to be prepared to manage this growth properly. In today’s episode, Jeff Klotz, of The Klotz Group of Companies joins us to discuss scaling and how they have successfully managed to do it. We hear about the importance of timing, how a good team makes all the difference, and why you need to be ready to face many roadblocks. Along with this, we also talk about Jeff’s obsession with KPIs and how they help the team make informed decisions, and why getting your mind right will get you to the next level every time. If you are looking for some advice on how to effectively scale, this is the show for you!
Key Points From This Episode:
- Hear about Jeff’s background, and what the Klotz Group of Companies does.
- The key factors and decisions that contributed to Jeff being able to scale his business.
- Some of the ways Jeff and his team overcame the obstacles of multifamily.
- The role that KPIs have played in Jeff’s decision-making.
- Using technology to get ahead and some of the software Jeff and his team utilize.
- Jeff’s take on mindset and how they think about excellence.
Tweetables:
“I think the real challenge in scaling was adding so many new people to that team so quick a period of rapid growth. I’d give credit to the people. I surrounded myself by the absolute best people I could find and we were obsessed with figuring out how to work the best we could together. That’s what really enabled us to grow at such a lightning-fast speed that we did about 10, 12 years ago.” — @JeffKlotz [0:02:19]
“When you’re all working together as one team, with one common goal, you’re dealing with the problems, you’re dealing with the successes, you’re celebrating the wins and victories, it makes a big difference.” — @JeffKlotz [0:03:57]
“It is easy to grow an organization. It is hard to maintain an organization and run an organization that has grown.” — @JeffKlotz [0:09:15]
Links Mentioned in Today’s Episode:
Jeff Klotz
The Klotz Group of Companies
Jeff Klotz on Twitter
Timberline
PowerBroker
The Garzella Group
redIQ
APT Capital Group
APT Capital Group on YouTube
Passive Income Through Multifamily Real Estate Facebook Group
Systems are key to effective asset management. Joining us today to shed light on SyndicationPro, a streamlined, simple syndication platform, is its founder, Jacob Blackett. As an operator himself, Jacob conceptualized SyndicationPro from his own pain points. This inside, hands-on knowledge has gone a long way in helping them stand out from the rest. In this episode, we hear more about the advantages of this software, including database centralization, time-saving, and effective communication. We also discover how SyndicationPro is integrated with other platforms, like CRMs, and their constant drive to innovate. If you’re looking to take your asset management to the next level with cutting-edge software, this is the episode for you.
Key Points From This Episode:
- Get to know Jacob, his real estate journey so far, and founding SyndicationPro.
- Benefits of SyndicationPro for asset managers.
- Standing out — What separates SyndicationPro from other investor portals.
- How being a real estate operator has helped Jacob deeply understand his clients’ needs.
- The importance of integration and how SyndicationPro accommodates other software.
- Other important things operators should know about SyndicationPro.
- Jacob’s asset management superpower: His super sheets.
Tweetables:
“I spend my days in the software and product company while at the same time, raising money, managing my own portfolio and running a real estate firm.” — Jacob Blackett [0:02:03]
“We realize is that our users resonate better with the platform. It’s really a one-of-a-kind tool that our customers use and we put a lot of focus in design and ease of use.” — Jacob Blackett [0:05:15]
“We’re definitely your best technology partner in terms of just staying on the forefront of innovative things you are able to do.” — Jacob Blackett [0:08:09]
Links Mentioned in Today’s Episode:
The Garzella Group
Jacob Blackett
Jacob Blackett Email
Holdfolio
SyndicationPro
redIQ
ActiveCampaign
Mailchimp
HubSpot
APT Capital Group
APT Capital Group on YouTube
APT Capital Group Monthly Meetup
Passive Income Through Multifamily Real Estate Facebook Group
Free Call with Kyle or Lalita
Welcome to another Asset Management Friday segment, focused on educating operators, building better systems, and becoming a best in class operator. Today’s guest is Nic Espanet, a Principal at Thrive Multifamily LLC and a multifamily real estate investor based in Fort Worth, Texas. Nic has been passively investing in multifamily assets since 2016 and has been a multifamily syndicator and asset manager since 2018. He has worked as a licensed physical therapist since 1996 and has run his own private practice since 2012. His experience as a small business owner combined with his detail-oriented personality has equipped the strong growth of Thrive Multifamily, a Texas-based multifamily syndication company. Nic is currently an asset manager in 3 multifamily syndications totaling 452 units, and is a passive investor in an additional 1780 units at 7 properties. In this episode, Nic shares a bit about himself and his syndication business, his experience of asset management in tertiary markets, and some of the challenges therein. He also talks about building in economic vacancy in tertiary markets and explains how he mitigates tax and insurance increases, so make sure to tune in today!
Key Points From This Episode:
- Nic introduces himself and his syndication business and explains how he got into real estate.
- Asset management in tertiary markets like Abilene versus DFW – Nic shares his experience.
- The challenges of asset managing are putting together contractors and boots on the ground.
- While underwriting on lease-ups isn’t a challenge, Nic always builds in a little more economic vacancy in tertiary markets.
- How Nic mitigates tax and insurance increases in Texas, by using a skilled tax consultant.
- Nic advises asset managers to look at rental, collections, and delinquency, but to also focus on expenses, income, and work orders too.
- The number one problem Nic’s mentees face when they come to him about asset managing.
- Nic says his asset management superpower is persistence and getting positive feedback.
Tweetables:
“On the main asset management side, it’s trying to put together contractors. Our property management company handles the biggest part of that.” — Nic Espanet [0:03:20]
“In the end, it’s what’s going in the bank is what’s important. Your NOI can be great but if your Cap X is over spending at that point and you’re not putting what you want into the bank, you’re not going to have money to distribute it. You're not going to have money to make the debt payment.” — Nic Espanet [0:07:59]
Links Mentioned in Today’s Episode:
Nic Espanet on LinkedIn
redIQ
Nic Espanet Email
Passive Income Through Multi-Family Real Estate Facebook Group
Garzella Group
For this Asset Management Fridays edition of the show, Chris Jackson from Sharpline Equity joins us to talk about renewal management now versus a few months back! Chris is a multifamily investor and syndicator with 10 years of experience, who has raised over 12 million dollars and completed over 500 unit transactions. Chris weighs in on the value of having more communication touchpoints with tenants now that so many people are canceling leases. This strategy also works when it comes to keeping track of whether a renewal plan is working – simply gauge if tenants are staying or leaving and you’ll know! In sum, Chris swears by the importance of being a good people person when it comes to asset management, talking about how it benefits everything from renewal management to delinquency management, resident marketing, community development, and teams on-site. Other takeaways from Chris today include how renewal management should change on a property over time, and a few lessons he learned after trying to scale a single-family portfolio by applying a multifamily lens to it. Tune in for a brief but informative chat about best practices for renewals with Chris Jackson today!
Key Points From This Episode:
- Chris’s real estate credentials and passion for bringing technology into asset management.
- Perspectives on how much asset management has changed in the last two months.
- How to approach residents about renewals and units in the current climate: more touchpoints.
- The cycle of how renewal management changes overtime after a property is bought.
- A story of things going awry while scaling a single-family portfolio with a multifamily lens.
- How Chris tracks, if a renewal plan is working; are residents staying after the renewal?
- Our guest’s views on renewal management changing over the next five years.
- Chris’s superpower and the use of relationship-building for good asset management.
- Different forms of communication Chris uses to suit his tenants’ preferences.
Tweetables:
“Renewal management looked like one thing before. Renewal management now in the last two months looks different.” — Chris Jackson [0:01:27]
“Relationship building affects all of the pillars of asset management from renewal management to delinquency management, resident marketing, community development, and your team on-site.”— Chris Jackson [0:05:38]
Links Mentioned in Today’s Episode
Chris Jackson
Sharpline Equity
Multifamily Unveiled
Passive Income through Multifamily Real Estate group on Facebook
Kyle Mitchell on Facebook
Gary Lipsky
redIQ
APT Capital Group
Investing in multifamily real estate is a numbers game in many ways, so being good at math will stand you in good stead. Today’s guest is Matt Owens, here to talk about how he handles his due diligence as well as some of his secrets for managing and operating properties. With a background as a CPA, Matt knows how to analyze the financials of his prospective properties so he can get better deals and put them to the best use. Matt gets into some of the main things he looks at before going ahead with a deal, mentioning how he arrives at his purchase price after doing a few calculations on an initial figure defined by the market rents for that area. We talk to Matt about how deep he goes into his underwriting when he prefers ‘back of the napkin’ versus full spreadsheet approaches, and how helpful his team is for sifting through deals to find the best ones. From there, we chat with Matt about why he likes value-add strategies for raising rents, his definition of deal-breaking details during underwriting, and what he learned about efficient management from owning a management company himself. Wrapping up, Matt drills down on why the financial side of operation is his superpower, and he talks about how important it is to have a solid understanding of the numbers behind a deal as far as helping it to perform optimally.
Key Points From This Episode:
- How Matt’s background as a CPA aids him in real estate, and the different niches he works in.
- Two things Matt looks at as far as due diligence: Market rents, and the area he buys in.
- How Matt switches between ‘back of the napkin’ and full spreadsheet approaches to underwriting.
- The value of having a good team to underwrite many properties well and find the best deal.
- Different analysis strategies depending on the asset and why Matt focuses on value-add strategies.
- The need to value-add on under rented properties before raising the rents and finding investors.
- Underwriting deal breakers: Tenants thrown in with a deal, faults kept secret, and more.
- Lessons Matt learned about efficient management through owning a management company.
- Separating cap-ex from repairs, using a management company, and watching the numbers.
- Matt’s asset management superpower: Analyzing the financials to structure the best use of his equity and properties.
- How Matt uses seller-finance strategies for smaller assets with lower balance loans.
Tweetables:
“It’s a lot of fun, a lot better than doing taxes and auditing for a CPA firm but you know, the skillset there plays perfectly into real estate investing in multifamily because it’s all math, of course.” — @OCGProperties [0:01:33]
“The first thing that I look at when I am analyzing a new deal is what are market rents at.” — @OCGProperties [0:02:10]
“You’re always looking at what is my highest, best use of my equity, what is the highest, best use of that property at the time.” — @OCGProperties [0:13:37]
Links Mentioned in Today’s Episode:
Matt Owens on LinkedIn
OCG Properties on Twitter
OCG Properties
redIQ
The Garzella Group
Request A Quote From The Garzella Group
Passive Income Through Multifamily Real Estate on Facebook
Financial analysis is a critical aspect of asset management because that is where the data comes from, and today’s guest is an absolute whizz when it comes to this side of the business. With a past life in tech, Prashant Satoskar is a skilled systems thinker, and his real estate career has seen him invest in single-family, and more recently become an LP and GP in the multifamily space as well. Today he is a managing partner of Catalyst Equity Partners which has 700 doors under management. In this episode, Prashant drills down on his policy for financial analysis, getting into some of the hidden, below the line costs involved in asset management. For Prashant, his analysis starts top-down, going from NOI and occupancy collection and ending up on cash flow. Along the way, Prashant keeps an eye on things like P&R, R&M, cash flow statements, AP aging statements, and balance sheets, as well as ROI on marketing and traffic, all of which he mentions today. He also talks about some of the apps and platforms he uses to help him track and log this data. From there, we talk about Prashant’s gift for big picture thinking and understanding the nuances and moving pieces involved in real estate. For all this and more on the topic of financial analysis from today’s great guest, tune in today.
Key Points From This Episode:
- Prashant’s background in tech and transition from single into multifamily real estate.
- KPIs in Prashant’s financial analysis, from occupancy collection and NOI to P&R, R&M, and cash flow.
- You can think your NOI is great but it actually isn’t because of missed hidden costs.
- Getting to grips with cash flow by looking at cash flow statements, AP aging statements, balance sheets, etc.
- Lessons Prashant learned as a passive investor about the hidden costs of assent management.
- Other hidden KPIs to look out for as far as ROI on marketing and traffic.
- Prashant’s use of ResMan and Excel and his plans for further future optimization.
- Understand the moving parts of asset management: Prashant’s superpower gleaned from his tech career.
Tweetables:
“You can have a great NOI but if there is stuff below the line in your books that eats into all of that cash that you generated then your cash flow can be zero.” — Prashant Satoskar [0:04:28]
“We start top-down and dig deeper into these various aspects of the financials to truly understand what is our financial position.” —Prashant Satoskar [0:05:18]
“In my past life really I was used to dealing with various functions within the company like marketing, sales, consulting, operations and how all of these things tie together and asset management is really the same thing.” — Prashant Satoskar [0:09:21]
Links Mentioned in Today’s Episode:
Prashant Satoskar on LinkedIn
Prashant Satoskar Email
Catalyst Equity Partners
ResMan
redIQ
Excel
The Garzella Group
Request a Quote From Garzella Group
Passive Income Through Multifamily Real Estate on Facebook
Schedule a Call with Kyle Mitchell
Being an asset manager can require you to keep track of hundreds of issues — and that’s just for one property. If you don’t have the right systems in place as you scale your business, then managing your portfolio becomes an agonizing task. Today we speak with Ashcroft Capital founder Frank Roessler, whose company manages over one billion dollars of assets. Our conversation opens as we explore Frank’s business model and how he runs his asset management department. A common challenge when scaling, Frank shares his insights on when you should hire people and why you need time to make each hire. We then dive into the nitty-gritty of how Frank tracks his deals and properties through clever spreadsheeting and constant vigilance. After highlighting the importance of managing people, Frank discusses the software that he uses to develop his property metrics. We ask Frank to talk about some of his early mistakes and his answer highlights how business plans unfold over years and that communication is key in sticking to your plan, especially as new people are brought on. Near the end of the episode, Frank reflects on his asset management superpower. A must-listen for any company intent on scaling, tune in to hear more on this topic from the mega-successful businessman, Frank Roessler.
Key Points From This Episode:
- Introducing Frank Roessler and the business model of his company, Ashcroft Capital.
- How Frank’s asset management department operates.
- Why Frank hires asset managers just before he needs them.
- The importance of tracking the small details in every one of your deals.
- Using meticulous spreadsheets to monitor your properties.
- Why managing people is an integral part of successful asset management.
- Hear about the software that Frank uses to develop his property metrics.
- The challenge of communicating your business plan as it unfolds over years.
- Frank’s asset management super-power; working with talented people.
Links Mentioned in Today’s Episode:
The Garzella Group
The Garzella Group Quote
Frank Roessler on LinkedIn
redIQ
Frank Roessler on Twitter
Ashcroft Capital
Joe Fearless
Alec Raggio
ResMan
RealPage
Yardi
Gary Lipsky on LinkedIn
Kyle Mitchell on LinkedIn
APT Capital Group
APT Capital Group on YouTube
Passive Income Through Multifamily Real Estate Facebook Group
Today we get to hear from Amy Tiemann, a real estate syndicator who also owns and manages apartment complexes. Being both a property manager and multifamily investor, Amy has a rare advantage when it comes to asset management. For her, it is imperative to first gain experience as a property manager before you can truly be great at asset management. In this episode, Amy talks about the pros and cons of being vertically integrated, the importance of hiring for company culture fit, and why she believes in employing cross-functional team members rather than ones who are skilled at only a single role. She also advises on retaining your best workers and making data-driven decisions. Be sure to listen in!
Key Points From This Episode:
- What Amy does and the areas she is currently focused on.
- The advantages and disadvantages of being vertically integrated.
- Hear how Amy goes about building her teams around her company culture philosophy.
- How their team collaborates cross-functionally and why it is beneficial to all the parties.
- Why Amy would rather hire someone with a broader skillset than just a leasing agent.
- The importance of paying people well and giving them a purpose if you want to retain them.
- How property management and investing in multifamily makes her a better asset manager.
- Amy shares her two asset managers superpowers, including interpreting the data!
Tweetables:
“When you’re looking at, from asset management to property management, there are so many things that then overlap. Being the property manager on a property and also being the asset manager, allows you to really get in-depth and really understand the operations of what everything is going on in that property.” — @amybethtiemann [0:01:30]
“But I would much rather have somebody with a higher skillset of project management that I could teach the leasing to because they’re going to get it.” — @amybethtiemann [0:06:40]
Links Mentioned in Today’s Episode:
Amy Tiemann
Amy Tiemann on LinkedIn
Amy Tiemann on Twitter
DISC Personality Test
Tableau
Garzella Group
redIQ
APT Capital Group
APT Capital Group on YouTube
Passive Income Through Multifamily Real Estate Facebook Group
Free Call with Kyle or Lalita
Welcome to Asset Management Friday! Today’s episode is all about insurance, and our special guest is Daniel Garzella, President of The Garzella Group, which is an insurance brokerage that specializes in multifamily property insurance. Dan founded the Garzella Group in 2014 and, prior to starting his own firm, he was selected as one of America’s top commercial insurance agents of the year for five years in a row. This episode focuses on the processes one needs to go through to get the best insurance deal, from learning about the different devices available within multifamily and commercial insurance to learning how the requirements change as the asset increases in value. Dan covers all of this and more, sharing with us how The Garzella Group uses its knowledge and expertise to set itself apart from other insurance companies, helping to reduce your insurance costs by doing extensive market research and creating a number of different options for better value. For more on what new syndicators need to obtain a quote, and some of the things that your asset manager might not be aware of, tune in today!
Key Points From This Episode:
- Dan introduces himself and his company, The Garzella Group.
- The different services within multifamily and commercial insurance.
- Changing insurance requirements as the value of the asset or the loan increases.
- The role that consulting groups play on behalf of the lender.
- The increase in cost per unit and the financial stability of the carrier after the $25 million mark.
- How knowledge and expertise set The Garzella Group apart from other insurance companies.
- What new syndicators need to obtain a quote and at what stage of the process they should.
- Some of the things an asset manager might not be aware of, including the impact that the insurance policy can have on the operating income.
- Dan’s asset management superpower – seeing an issue before it arises and taking care of it.
- Reducing insurance costs by doing market research and creating different options.
Tweetables:
“The insurance isn’t going to pay the loan amount just because it’s the loan amount, they’re not going to pay the market value just because it’s the market value, they’re going to pay the cost to rebuild it. We would push for the reconstruction cost and we can actually do that using the appraisal that the lender ordered in order to validate the deal to begin with.” — @garzellagpmfra [0:06:11]
Links Mentioned in Today’s Episode:
The Garzella Group on Twitter
Daniel Garzella on LinkedIn
The Garzella Group: Insurance and Financial Services
Request a Quote from The Garzella Group
redIQ
Passive Income Through Multifamily Real Estate Facebook Group
APT Capital Group
Sometimes we might forget the importance of community and engagement in the field of real estate and particularly the multi-family sector. Here to talk to us about community management and the best ways to use it as a tool for your business, is Eric Upchurch from Active Passive Income! He has a strong message about getting out of your comfort zone and getting a community involved, with a specific focus on honoring military heroes of the past! Eric explains the reasons he believes community engagement to be so important to all of us, and we talk about some of the events and campaigns which he has run. The conversation also covers the financial impact that community management can have and Eric gives us a few great examples of the results he has seen. We touch on learning fast and taking lessons forward before Eric unpacks his own asset management superpower; as you may have guessed, networking! As a somewhat surprising introvert, Eric needs time to recharge and be alone but that does not mean he does not go out and connect when the time is right! For these and a host of further lessons from a great young voice, listen in today!
Key Points From This Episode:
- Eric's young career in multi-family real estate after his military service.
- Why is community engagement so important in the multi-family space?
- The hero-based approach to real estate that Eric and his company follow.
- Other initiatives and events that Eric uses to engage the community.
- An example of the great results that Eric and his company has seen from these strategies.
- How community engagement can affect the financial aspect of the business.
- The efficacy of using Facebook Marketplace during and before the coronavirus crisis.
- Eric's attitude towards trial and error; learning and moving on as fast as possible.
- Eric's asset management superpower; super networking!
Tweetables:
“Two years ago I had zero experience, didn’t even know regular people like us could buy multi-family properties.” — @ADPassiveIncome [0:01:11]
“We believe that not only should veterans own as much of America as possible but we owe it to the communities that we invest in to make them a better place to live.” — @ADPassiveIncome [0:04:01]
Links Mentioned in Today’s Episode:
APT Capital Group
The Garzella Group
Eric Upchurch Email
redIQ
Active Duty Passive Income
Active Duty Passive Income on Twitter
Eric Upchurch on Instagram
Fritz Ritter and his team at Kronos Investment Partners are skilled at obtaining tenant data to help them form their business plans and fit properties with the appropriate amenities. The age, family size, professions, and hobbies of your families play a large role in the type of property that they are interested in. In this episode, Fritz shares his tools and strategies for creating tenant profiles that can be used to make smart investment choices. For Fritz, understanding the lifestyle of your prospective tenant is key to serving them well and getting the most out of your assets.
Key Points From This Episode:
- Learn some background about our guest Fritz Ritter and his journey into multifamily.
- The most important tenant information to obtain.
- What the strategic evaluation of a target area (SEOTA) entails and how it serves them.
- The tools they use to source the information.
- Examples of how they use the information to provide the preferred amenities.
- The importance of understanding the lifestyle of your prospective tenant.
- Tips for implementing and building effective systems.
Tweetables:
“We go into the demographics and the psychographics of the tenants in those areas from various sources online and build up that profile and get as much information as we can. And this helps us build the business plan.” — Fritz Ritter [0:02:05]
“The better you can understand the lifestyle of your prospect tenant, the better you are going to be able to serve them.” — Fritz Ritter [0:04:13]
Links Mentioned in Today’s Episode:
Fritz Ritter on LinkedIn
Fritz Ritter Email
Kronos Investment Partners
City-Data.com
Buy It, Rent It, Profit!
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
redIQ
When it comes to raising and managing capital, it’s all about putting the investor first. Today’s guest is Brian Adams, and he joins us to talk about all lessons he has learned about this syndication fundamental. Brian is the Principal and Founder of Excelsior Capital, and he starts out today talking about his journey into capital raising as well as his focus on buying up multi-tenant office properties in secondary markets in the Midwest and Southeast. From there, Brian gets into how he raised over $60 million of equity in three years after learning the power of listening to his investors’ needs! Brian raised so much capital that managing it brought a whole new bag of challenges, and we hear how this taught him to value things like reporting and transparency as highly as he does. For Brian, networking is key, and he weighs in on how he took the opportunity provided by some family connections initially and used it to build an ever-expanding community of investors who trust him. Brian gets into essential software tools, the value of his CFA certified staff, and of course, his superpower today, too. For all this and more, listen in!
Key Points From This Episode:
- Brian’s journey into capital raising, the assets he buys, and his portfolio size.
- How Brian learned it’s easier to raise capital by asking key investors what they want to buy.
- Lessons learned about effective management after raising more capital than Brian could manage.
- The role of family networks in gaining momentum for raising capital initially.
- How Brian scooped up his second phase of investors by offering a unique opportunity in the office space.
- Indispensable software for Brian including Juniper Square, ETS, and Slack.
- The use of Brian’s CFA certified team and why his gift for networking his is superpower.
Tweetables:
“It’s much easier to scale and you will raise much more capital if you actually take the time to sit down with your most logical network of investors. Folks that are likely to give their resources to you and just ask them what they want.”— @ExcelsiorCapit1 [0:02:37]
“We’re very focused on reporting, transparency, and actually, what that experience of the investor is beyond just what the economics over the returns are.” — @ExcelsiorCapit1 [0:04:58]
Links Mentioned in Today’s Episode:
Brian Adams on LinkedIn
Excelsior Capital
Juniper Square
KKR
Blackstone
ETS
Slack
redIQ
APT Capital Group
The Garzella Group
Passive Income through Multi-family Real Estate group on Facebook
Gary Lipsky
Kyle Mitchell
Going through a property’s monthly reports might not be the most glamorous syndication related activity, but it is incredibly important. You need to inspect each report with a fine-tooth comb to ensure that all of the numbers are correct. Today, Kyle Mitchell, co-host of this show, is in the hot seat, answering questions about monthly reporting. In this episode, Kyle talks about the new company he and Gary are launching and what they’ll be working on. He then takes us through his process of reviewing monthly reports, highlighting some of the common areas where he sees mistakes. From double changes to accidental fees, it’s easy for property management companies with a large clientele to make mistakes. Kyle stresses the importance of going into the ledger rather than looking at the summary report. Along with this, we also talk about tax expensing in your budget, being a signer on your bank account, and more. Be sure to tune in today!
Key Points From This Episode:
- Learn more about Kyle and the new project he’s going to be launching with Gary.
- Find out more about the process of reviewing the monthly reporting of a property.
- Three of the most common mistakes Kyle typically sees with monthly reporting.
- Why it’s important to go into the ledger and not only look at the summary report.
- Two monthly report expenses sponsors typically forget when underwriting a property.
- Banking and property ownership: Who has access and types of accounts.
- Kyle’s asset management superpower and where you can find him.
Tweetables:
“As asset managers, you got to dig in a little bit deeper and peel back the onion a bit.” — Kyle Mitchell [0:02:38]
“It’s important to really dig into these reports and take a look.” — Kyle Mitchell [0:04:41]
“I just love the details. The devil is in the details.” — Kyle Mitchell [0:14:43]
Links Mentioned in Today’s Episode:
Kyle Mitchell
APT Capital Group
APT Capital Group - YouTube Channel
Passive Income Through Multifamily Real Estate Facebook Group
Free Call with Kyle or Lalita
redIQ
Garzella Group
Strong investor relations are a crucial part of the syndication puzzle. Without these, it will be very difficult to thrive in the business. Our guest today, Ivan Barratt of Barratt Asset Management, is here to share his top tips on creating investor relationships that propel you to success. In this episode, we learn about the importance of investor communication. Ivan shares how frequently he interacts with investors and the various platforms he uses. It is important to be open and transparent with investors, particularly in difficult times. Investors understand that things may not go to plan, so keeping them in the loop will quell any anxieties. Along with this, strong returns always go a long way in growing the relationship. Ivan also sheds light on some other investor relations strategies he uses as well as his superpower. Be sure to tune in today!
Key Points From This Episode:
- Find out more about Ivan’s background and what he’s accomplished over the last 10 years.
- How often Ivan communicates with investors and the different channels he utilizes.
- Learn how Ivan’s handled disgruntled investors and tips on maintaining good relationships.
- Other tactics Ivan uses to show investor appreciation and his superpower.
Tweetables:
“Our investor mandate is to maximize value, maximize returns for those investors, but we are the chef in the kitchen.” — @ivanbarratt [0:03:19]
“A really great way to approach investors is to be as transparent as possible, a 100% if you can with your thesis, your hold period, what can go wrong, what are the risks, what's the plan, as much as you can.” — @ivanbarratt [0:04:43]
Links Mentioned in Today’s Episode:
Ivan Barratt
Ivan Barratt’s number
Ivan Barratt Education
Barratt Asset Management
HubSpot
redIQ
Investor Management Services
Passive Income Through Multifamily Real Estate Facebook Group
Free Call with Kyle or Lalita
Today on the podcast, listeners will hear from Ajai Sharma, the founder, and principal of AimNext Realty. Ajai oversees all aspects of property operations, including asset management, property management oversight, and investor relations. Since he entered the real estate investing space in 2008, he has been involved in almost 5,000 units as a passive investor and also a deal sponsor. In this episode, Ajai shares why he entered the real estate market in the most difficult economic period and decided to pivot to apartment syndication five or so years ago. For him, the most important aspect of the business is communication—with investors, executive property management staff, and brokers—because you never want to burn bridges. He explains why bonus plans for staff on the sale of a property is a good way to keep them committed to the cause and how that helps to ensure positive future working relationships. He walks us through their process of getting ready to sell a property after the five years, what they do when the returns are less than expected and whether they prioritize a higher price or surety of closing.
Key Points From This Episode:
- Find out some background information about when our guest got into real estate investing.
- Why Ajai decided to buy single-family homes amid the 2008/2009 economic crisis.
- Hear why Ajai pivoted to and learned all about apartment syndication five years ago.
- Communicating with investors regarding returns and distributions within their five-years plans.
- The procedure they follow once they come close to the total return and are ready to sell.
- Holding on to properties longer than five years when the returns are less than expected.
- Why there is no such thing as over-communicating with your investors.
- The importance of including the proper manager executive in the sales conversation.
- The benefits of having a bonus plan for your staff in the pursuit of selling a property.
- Never bring your property prematurely to the market and other sure-fire advice.
- Which should be the priority: highest price or surety of the deal closing?
Tweetables:
“But in 2008 and 2009, I started as a single-family rental business. You know 2008/2009 was a blood bath in the whole real estate market but I felt that was the right opportunity to buy a good chunk of single-family homes.” — Ajai Sharma [0:01:24]
“Investor communication is key. There is nothing like over communication with your investor. You should always get engaged.” — Ajai Sharma [0:06:13]
“Never sell the property prematurely, never try to sell the property without a broker, always have your management company in your confidence so they know what is going on.” — Ajai Sharma [0:11:17]
Links Mentioned in Today’s Episode:
Ajai Sharma on Facebook
Aimnext Realty
redIQ
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
Executing your business plan is not always easy as many variables can derail your initial course of action. Today’s guest, Devin Elder, knows the importance of sticking to your guns and has seen firsthand the benefits of persevering with a tried and tested investment thesis. In this episode, Devin sheds light on his company, DJE’s business plan, their desired ROI on money spent on interiors, and the asset classes they invest in. While doing heavy value-adds may not appeal to all operators, for Devin, it’s a chance to be creative. We also touch on systems and how software has helped the businesses streamline their processes for optimal efficiency. Along with this, Devin shares some wise words as well as a look at what his asset management superpower is. Tune in today!
Key Points From This Episode:
- Hear about Devin’s background, where he’s based, and his current investment focus.
- Devin’s most frequently implemented business plan for apartment purchases.
- Why dealing with people is the most challenging part of executing a business plan for Devin.
- The double-edged sword of big value-add deals: Opportunity versus challenge.
- Why Devin has not veered too far from his workforce housing investment thesis.
- The role that software automation plays in being able to execute a business plan.
- Two pieces of advice Devin would give his younger self.
- Find out what Devin’s asset management superpower is.
Tweetables:
“We’re looking for a substantial component of units that haven’t been renovated that we can go in, update, and see an ROI 20% or better on an annualized basis.” — Devin Elder [0:02:15]
“Real estate is easy, people are hard.” — Devin Elder [0:02:33]
“We are scared of the unknown, right? And it looks scary at night when you can’t see anything and in the morning it is silly that you are scared of it. So, you have to get the other side of that fear.” — Devin Elder [0:09:29]
Links Mentioned in Today’s Episode:
The Garzella Group
DJE Texas Management Group
Devin Elder
Gary Keller
APT Capital Group
APT Capital Group on YouTube
redIQ
Passive Income Through Multifamily Real Estate Facebook Group
Free Call with Kyle or Lalita
Going full cycle on deals is often very important, particularly when you’re trying to build a track record. But seeing a deal through till the projected end isn’t always necessary if returns are high before this point. Today's guest, Michael Becker, Principal at SPI Advisory, is here to share more on disposition with us. In this show, Michael sheds light on a host of disposition-related topics, such as SPI’s adaptive approach to selling their properties, why he believes that going full cycle is necessary for newer operators and the importance of not being over-distributed when exiting a deal. Along with this, we also get into keeping a pulse on trailing and forward-looking numbers, and why you shouldn’t think a deal is done if it’s only under contract. For this and much more, tune in today!
Key Points From This Episode:
- Learn more about Michael’s background and what SPI Advisory does.
- Find out about SPI’s flexible, data-driven approach in planning to sell properties.
- An example of a property SPI sold and some of the KPIs they were tracking to know the right time.
- Michael’s advice for operators who have not yet gone full cycle on a deal.
- Some of the biggest lessons Michael has learned working on 1031 exchanges.
- Find out the details of what goes into wrapping up a deal.
- The biggest challenge Michael has faced when selling a property and his asset management superpower.
Tweetables:
“Just because the deal’s in contract, doesn’t necessarily mean it’s going to close.” — Michael Becker [0:05:15]
“You are just going to make a decision based on the available information you have in front of you right now and then the future is uncertain. So, the further out you go the less certain it is going to be.” — Michael Becker [0:08:08]
Links Mentioned in Today’s Episode:
SPI Advisory
Michael Becker on LinkedIn
Old Capital Real Estate Investing Podcast
Garzella Group
redIQ
Passive Income Through Multifamily Real Estate Facebook Group
Today, Kyle Mitchel and Gary Lipsky look back at their latest summit, talk about the raging success that it was, and why you can’t miss out on the next one. The Asset Management Summit was hosted in September and October, and was born out of one question: How do we become best-in-class operators in asset management? To create maximum value, Gary and Kyle got in touch with the best speakers in the business and asked them to share their industry knowledge. For Kyle, this summit wasn’t just about sharing insider tips. It was about breaking down the barrier between competitor and community. Their summit was a space where like-minded individuals could come together, share their know-how, and improve themselves professionally. In this episode, you’ll hear Kyle and Gary’s favorite takeaways from the summit, including system methods for asset management and how to go about asking the right questions. You’ll also catch a glimpse of the future, as the two talk about future summits and a book set to be released in early 2021. Be sure to tune in!
Key Points From This Episode:
- Introducing you to the segment theme of building better systems and becoming a best-in-class operator.
- Recapping the Virtual Asset Management Summit.
- Gary and Kyle’s motivation for the summit came from the question: how do we become best-in-class operators?
- Teasing the next summit which is scheduled for April 2021.
- A quick look at how you could have benefited from the summit.
- Kyle on breaking down the barrier between community and competitors.
- Their top three takeaways from the summit.
- Discover the value of having useful asset management systems.
- Using the correct systems to help you ask the right questions.
- Understand the importance of managing the managers, specifically property managers.
- Gary goes into his favorite aspects of the summit and the things he learned.
- Hear about the need for great communication.
- If you missed the summit, there are over 40 recordings available.
- Looking ahead to the launch of their book in 2021.
Tweetables:
“We brought the best speakers to our summit to talk about their practices and we weren’t disappointed. We had over the 1,800 people that registered – I mean the feedback has been tremendous, so we are really excited how well it went ” — @garylipsky [0:01:33]
“We’re going to host another one in April, that will only be seven days. We’re still working on that but what an amazing event and it really comes down to the speakers. They shared so much value, every single one of them.” — @kyle_wang1 [0:01:49]
Links Mentioned in Today’s Episode:
Passive Income Through Multifamily Real Estate Facebook Group
Free Call with Kyle or Lalita
Gary Lipsky on LinkedIn
Gary Lipsky on Twitter
Kyle Mitchel on LinkedIn
KyleMitchel on Twitter
LaSalle
VIP
redIQ
Asset Management Mastery
Stitcher
APT Capital Group
Jason Yarusi from Yarusi Holdings joins us today to give some practical advice for saving on controllable expenses. The first place where you want to start is with your utilities, and he shares how little adjustments in terms of water and electricity can make a big difference. Another area with cost-saving potential is contracts. When you have had the same service provider for years, it is easy to lose track of their rates and in doing so, you could be overpaying on services. That is why Jason advises listeners to renegotiate prices every year. When you start making these small upgrades to your property, be sure to include your tenants in the conversation and get their buy-in before you bump up the rent. The conversation concludes with Jason encouraging listeners to remain persistent in their real estate endeavors.
Key Points From This Episode:
- Get a quick overview of Jason and his wife’s multifamily syndication firm and where they invest.
- The biggest controllable expenses and what can be done to keep costs down.
- The importance of paying attention to utilities and strategies for keeping the water bill at a minimum.
- What Jason and his team are doing to save on the cost of electricity.
- Paying attention to your contracts to ensure that you are not overpaying on services.
- How they go about evaluating properties based on controllable expenses.
- Communicating with tenants and getting their buy-in on your vision for the property before increasing rent.
- Green strategies for saving expenses without compromising the property.
- The superpower of persistence, moving forward, and tracking what you do.
Tweetables:
“Now is the time to get into your numbers and make sure that there are not things running wild.” — @JasonYarusi [0:05:06]
“You just need to keep consistent on it and really just be persistent.” — @JasonYarusi [0:10:46]
Links Mentioned in Today’s Episode:
Jason Yarusi on Twitter
Yarusi Holdings
The Jason and Pili Project
Asana
redIQ
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
The topic of downside protection is of particular importance right now as we are all going through this current crisis and period of instability. Our guest, Tauheed Siddiqui, is here to discuss his thoughts on the subject and how he and his company, TAAS, have gone about preparing for the more difficult times. He mentions conservative underwriting as the best place to start with a safety net. He also explains the importance of the market in which you’re investing in and how you prepare before reminding us of the power of liquidity; you do not want to be going into a downturn without any cash! Tauheed is very generous in sharing some of the strategies he uses and is currently using to make it through the troubled waters, and from there we move onto leases and renewals and hedging known and unknown factors. For Tauheed, an intimate relationship with the data as well as close links to his property management company are what helps him sleep at night. Listen in with us for this episode of Asset Management Fridays, to get it all!
Key Points From This Episode:
- Tauheed's work in real estate and land development.
- The three key components of downside protection; underwriting, location, cash-reserves.
- Setting aside a percentage of a purchase price for this downside period.
- The knowns and unknowns and hedging these in the smartest ways for the future.
- Examples of how Tauheed manages during downtimes; working with tenants and more!
- Lease renewal practices during the pandemic — aligning with tenant needs as much as possible.
- Tauheed's asset management superpowers: relationships and data.
Tweetables:
“The bottom line is, during the headwinds, would you be able to keep your head above the water?” — Tauheed Siddiqui [0:03:49]
“I just keep communicating to my property management company. The more you have a system, the more it is going to help our bottom line.” — Tauheed Siddiqui [0:05:57]
“You always want to be very careful with the expenses but more so now. So cut where you can and even revise some agreements if possible.” — Tauheed Siddiqui [0:05:57]
Links Mentioned in Today’s Episode:
Tauheed Siddiqui
TAAS
redIQ
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
It is so important to explore every avenue when trying to generate more income from your properties. This requires creativity and outside of the box thinking. Today’s guest, Ben Suttles, of Disrupt Equity, is here to share some of the top strategies he and his team use to increase their property returns. In this episode, Ben sheds light on why implementing RUBS is a huge boost to property revenue. He walks us through the time frame and other specifications of rolling RUBS out. Ben also shares other tactics for increasing returns, like pet rent and trash and pest fees. When introducing these fees, it is crucial to understand whether your tenant base can support them. This is why it’s important to draw on your property management team’s knowledge of the area and the fees other properties are charging. We also discuss how to get on the same page as your property management team, why you should stagger the introduction of additional fees, and how tighter management itself produces more income. This was a great show, so be sure to tune in today!
Key Points From This Episode:
- Learn about Ben’s background and what he’s currently involved with.
- Find out why billing back utilities is Ben’s number one incoming-boosting strategy.
- Implementing RUBS, how long it takes and important things to keep in mind.
- Two lesser-known strategies Ben uses to increase income: Pet rent and pests and trash.
- How tight management goes a long way in boosting overall income as well.
- The importance of aligning your underwriting the property management’s budget.
- Why it’s not possible to have a fixed percentage expectation of other income for properties.
- Ben’s superpower and final takeaways from the show.
Tweetables:
“Look at doing the water and sewer reimbursements with your tenants, and I think you'll see it as a big boost for your property.” — Ben Suttles [0:04:26]
“It's very important that you work with your property management company prior to takeover in aligning your internal underwriting budget with what they can actually do on the property.” — Ben Suttles [0:14:43]
Links Mentioned in Today’s Episode:
Ben Suttles on LinkedIn
Ben Suttles’s email
Disrupt Equity
Feras Moussa
Passive Income Through Multifamily Real Estate Facebook Group
Free Call with Kyle or Lalita
Garzella Group
redIQ
APT Capital Group
APT Capital Group - YouTube Channel
Today on the show we welcome Andrew Campbell, the co-founder at Wildhorn Capital, a multifamily operations group in Central Texas. Currently, they have 1,800 units that are all value ad and within the B to A-minus asset class range. Andrew shares with listeners how they have been doing in-house renovations with great success, partly due to the savings they make on bulk purchases and focusing on those renovations that give you the most bang for your buck. He also discusses the advantages of having the products on hand and using the same ones across all their assets, and why they choose vinyl flooring throughout all their apartments. We switch to discussing the importance of communication between the asset manager, on-site manager, and GCs, and Andrew also gives advice about value add renovations in general.
Key Points From This Episode:
- Learn about the Wildhorn Capital operations group and its number of units.
- How Andrew and his team manage the renovations on properties in-house.
- Buying flooring, light fixtures, sinks and other fittings in bulk to use across all assets
- The major advantages of having the necessary products on hand.
- What operators can save by buying renovation products from China.
- The importance of good communication between asset manager, on-site manager, and GC.
- Hear which renovations Wildhorn makes the most money on and the timelines involved.
- Why Wildhorn opts for vinyl flooring throughout all their units, including the bedrooms.
- Advice for newbies about potential challenges when doing value add renovations.
- Hear which reporting tools they use to track renovations and communicate with role players.
Tweetables:
“I think the biggest bang for your buck, I think for us will probably be flooring. We’re a group that does vinyl flooring, we do it throughout the unit, including bedrooms, living rooms, and on upper floors.” — Andrew Campbell [0:03:59]
“I think really being on top of it at the beginning of the process both as you are defining the scope but then as you start that execution to make sure it is sort of unfolding like you think it should” — Andrew Cambell [0:17:12]
“I think being a good asset manager is about being a good communicator with your eyes and ears on sight, which is your management team.” — Andrew Campbell [0:07:40]
Links Mentioned in Today’s Episode:
Andrew Campbell on LinkedIn
Wildhorn Capital
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
Garzella Group
redIQ
APT Capital Group
APT Capital Group - YouTube Channel
Our guest for this episode, Drew Kniffin, is the president of Nighthawk Equity, a syndication group focused exclusively on buying C plus and B class multifamily assets. The topic today is leasing, and as an expert in this field, Drew shares what a good leasing strategy should look like, including the performance indicators for leases and leasing agents and how they have had to temporarily adjust their approach amid the COVID-19 outbreak. He talks about their trusted formulation and striking the balance between maximum rent versus maximum occupancy, and how they go about getting property managers on the same page. In terms of hiring the right people for your team, he encourages listeners to look for those guys who are adept at selling who will ensure that your properties get leased out.
Key Points From This Episode:
- Learn about our guest’s role at Nighthawk Equity and the asset classes they focus on.
- Drew’s leasing formulation: maximum rent versus maximum occupancy.
- The asset manager’s role in communicating the leasing formulation with property managers.
- Other key performance indicators for leases and leasing agents.
- Nighthawk Equity's target numbers in terms of conversion and closing rates.
- What Drew and his team are doing to optimize their leasing strategy.
- Advice for newbies at the leasing game — spoiler alert — keep track of the data!
- How the COVID-19 crisis has impacted their team’s leasing strategy.
Tweetables:
“When we’re looking at leasing, we want to be about 95% occupancy on our properties.” — @DrewKniffin [0:02:05]
“Leasing is the fountainhead of our industry. Everything flows from it and if your leasing is great, mostly everything else will fall into place.” —@DrewKniffin [0:05:25]
Links Mentioned in Today’s Episode:
Drew Kniffin on LinkedIn
Drew Kniffin on Twitter
Drew Kniffin Email
Nighthawk Equity
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
Garzella Group
redIQ
APT Capital Group
APT Capital Group - YouTube Channel
With the right approach to your value-add strategy, you can be sure that your dollars are being well spent, you’re up to speed with your competition, and that you’ll lease up faster! Today on the show, Kyle interviews Gary and the two talk shop about best practices for value-add! It’s important to start your value-add process from the very beginning, and Gary tells us that he’s already thinking about it from the time he receives the EOM. Another great tip Gary mentions is to keep touring your comps, even after a deal closes. Constantly assessing metrics like ROI and staying in the know about where you sit in relation to your competitors is vital! Equally important is how to know when to deviate from a value-add plan, and our hosts have a few golden nuggets to share in that regard. Gary also suggests that investors should focus on exterior renovations first, and shares a few of his top-performing cosmetic additions, such as billboards, paint jobs, and amenities. Lastly, we get into some ways that you can know whether your value-add strategy is working, and Gary lists a few very clear indicators, such as if you’re successfully bumping rents! Tune in for some amazing pointers for your next value-add strategy today!
Key Points From This Episode:
- Gary’s entrepreneurial childhood and road into real estate investing with Kyle.
- The beginning of a value-add strategy starting with the EOM, comps, and pictures.
- Typical players Gary involves in his value-add strategies.
- Gauging comps and the current environment, and when to deviate from a value-add plan.
- Constantly watching comps and other facets of asset management.
- The three most impactful strategies for getting tenants: signage, paint, and extra amenities.
- How to assess a value-add strategy and tell it’s working: rent bumps and conversion rates.
- Being vigilant by tracking data and reassessing return on investment constantly.
- Gary’s asset management superpower: being a numbers guy.
Tweetables:
“You're constantly evaluating. You’re dealing with market conditions, and being able to pivot is so important to your business plan.” — @garylipsky [0:04:17]
“We push our property management team to provide the best customer experience for our tenants and the best investor experience for our investors. That means we’re constantly staying on top of all the facets of asset management.” — @garylipsky [0:05:00]
Links Mentioned in Today’s Episode:
Gary Lipsky
Gary Lipsky Email Address
APT Capital Group
APT Capital Group - YouTube Channel
redIQ
Passive Income Through Multifamily Real Estate Facebook Group
Kyle Mitchell on Facebook
Lalita Mitchell on Facebook
Garzella Group
Alain Villegas is a full-time real estate investor based in Dallas, Texas who has over $60 million of properties under asset management, just under 900 doors spread across seven apartments. He has also invested as a limited partner in eight properties, just over 1,200 doors in total. In this episode, Alain talks about real estate reporting, from the reports acquired from property managers to the ones created for internal purposes and to keep investors updated. Tuning in to this episode, you will learn why you should not only pay close attention to monthly and weekly reports but also daily ones to keep abreast of property performance. This also allows asset managers to assume a proactive approach instead of waiting for things to happen. Alain advises on the most important reporting elements to note, how regularly they should be tracked, and how this information can be communicated to the different parties. We also discuss software tools, the ultimate report, and the importance of anticipating challenges.
Key Points From This Episode:
- Learn about the number and locations of properties that Alain manages.
- What the daily, weekly, and monthly reports from third-party property managers include.
- The three weekly reports: property performance, property make-ready, and status-of reports.
- The channel through which reporting data is communicated daily.
- Hear which elements are most important and how frequently they should be tracked.
- The reports created for internal purposes and the ones used to update investors.
- Trusted property management software tools to manage various reports.
- What the ideal report would look like and the kind of information it would provide.
- Leading by being proactive and anticipating future challenges.
Tweetables:
“For me, the most critical is the budget versus actual net operating income. The reason for this is it is already reflective of the overall performance of your operations, taking into account both your revenue and expense.” — Alain Villegas [0:04:07]
“Be proactive. Always stay ahead of things. Lead not only in your team but anticipate future challenges.” — Alain Villegas [0:09:37]
Links Mentioned in Today’s Episode:
Alain Villegas on LinkedIn
Alain Villegas Email
ResMan
Yardi
Passive Income through Multifamily Real Estate Group on Facebook
Gary Lipsky on Twitter
Kyle Mitchell on Facebook
Garzella Group
APT Capital Group
APT Capital Group - YouTube Channel
In real estate, as in other lines of work, data and information is power. Here to discuss the irreplaceable utility of key performance indicators or KPIs, is Merrill Kaliser. Merrill uses KPIs across his multiple businesses and they make up the foundation of how he stays on top of his different ventures. He speaks to the most important indicators for the real estate business and how he and his team manage the data that comes in. Merrill brings attention to property and asset management statistics as well as information around leads and where they come from. If you cannot measure which avenue of your marketing is working, you will not know where to put more energy! Merrill has so much enthusiasm and insight to share, with the key takeaway being the immediacy of the collected information. He covers rent collection, vacation notice, and work order KPIs before drilling down on the idea of costs per lead converted. For all this in a punchy Friday episode, tune in!
Key Points From This Episode:
- The different avenues of Merrill's work and how he stays busy.
- Merrill's use of KPIs to manage his businesses and how excited he gets about measuring.
- The KPIs Merrill gives the most attention; property and asset management.
- Managing the KPI information and the tools Merrill is using to collect and store it.
- The often-overlooked KPI around leads and why Merrill attaches so much value to it.
- Why Merrill's asset management superpower lies in his team!
Tweetables:
“We use KPIs on every single business that generates revenue and or has expenses going out.” — @LonghornInvest [0:02:13]
“The first thing I do when I wake up every morning is I look in my inbox and I have about 17 different KPIs.” — @LonghornInvest [0:02:50]
Links Mentioned in Today’s Episode:
Kaliser & Associates
Merrill Kalister on LinkedIn
Merrill Kaliser on Twitter
Longhorn Investments
Enron
Tableau
Yardi
RENTcafe
Apartments.com
Apartment Guide
APT Capital Group
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
APT Capital Group
APT Capital Group - YouTube Channel
Garzella Group
Creating air-tight budgets, which factor in all expenses, no matter how small, is no easy feat. It requires patience, commitment, and an eye for detail. Danny Randazzo, our guest today, certainly possesses these skills. As an asset management and budgeting whizz, he knows how to get the maximum NOI on properties. In this episode, Danny walks us through the current budget he is doing, and how his company creates multiple budgets to come up with a solid end number. He also talks about why they choose to do cost per door as well as the importance of being market-specific. Geographic location can shift several budget factors, so it is important to be cognizant of this. Along with this, Danny sheds light on the importance of having strict criteria that you stick to when looking for properties. We learned a great deal in today’s show, and we know you will too. Be sure to tune in today!
Key Points From This Episode:
- Learn more about Danny’s background and what he is currently involved in.
- Find out about Danny’s budgeting process on a new property he is underwriting.
- The differentiating line items to look for when creating a budget.
- Gary unpacks how location plays a role in budget differentiation.
- Why Danny believes focusing on one market and knowing it well will lead to greater success.
- How having strict criteria can help you stay conservative.
- Danny’s asset management superpower and his top tip for success.
Tweetables:
“When we budget, we look at what the previous owner’s performance was. And we understand how they operated it because likely, them being a pretty decent owner-operator, their numbers shouldn’t be too far off.” — Danny Randazzo [0:02:48]
“You need to have a strict set of criteria and stick to it. If a deal doesn’t work because your criteria is conservative then it is not the deal for you.” — Danny Randazzo [0:10:18]
“Every single dollar counts when you are looking at asset management.” — Danny Randazzo [0:13:48]
Links Mentioned in Today’s Episode:
Danny Randazzo
Danny Randazzo on LinkedIn
Danny Randazzo on Instagram
Danny Randazzo on Facebook
PassiveInvesting.com
Sam Walton
CoStar
Passive Income through Multifamily Real Estate Group on Facebook
Gary Lipsky on Twitter
APT Capital Group
APT Capital Group - YouTube Channel
Kyle Mitchell on Facebook
Garzella Group
Our guest today is Mauricio Rauld, the CEO and founder of Premier Law Group where he also acts as one of the syndication attorneys who help real estate syndicators to raise the capital to pursue their dreams of financial independence. Mauricio gives listeners some helpful advice around signing purchase and sales agreements, setting up LLCs, and keeping the asset management entity separate from the one owning the relevant share of the building. We also get into the issue of asset managers being legally responsible for the property managers they hire and the importance of including them in your insurance. Mauricio tells listeners what information lawyers require from their clients to set up a private placement memorandum and why the value of the PPM lies in its details, and then he gets into the “gray area” of conditioning the market versus merely adding value and educating. Be sure to join the conversation to also learn more about closing out an entity after a property is sold.
Key Points From This Episode:
- An overview of the Premier Law Group and Mauricio’s capital raising role.
- The dos and don’ts of signing a purchase and sale agreements (PSAs) and creating an LLC.
- Separating the entity that does the asset management from the one owning your share of the building.
- Recognizing that as the asset manager, you are legally responsible for the property manager.
- Getting the insurance in place to cover you should the property manager perpetrate.
- The information your attorney needs to set up a private placement memorandum (PPM).
- Why you should not simply use a random PPM or one from the internet.
- The most cringe-worthy posts people make about their deals from a legal point of view.
- Navigating the fine line between conditioning the market and adding value.
- Examples of pre-conditioning the market without having an active deal at the time.
- What you need to do from a legal perspective to close out the entity after the property is sold.
- A breakdown of the three entities operators need to establish for legal purposes.
Tweetables:
“We always create the LLC in the state where the property is located.” — @Mauricio_Rauld [0:02:26]
“You really want to reach out to your attorney right away. As soon as you enter into an LOI or have an LOI accepted, reach out to the attorney and the first thing you’re going to have to bring to your attorney is that business plan.” — @Mauricio_Rauld [0:04:19]
“The PPM in and of itself is kind of worthless if you just pull one from the internet or use a template. It’s what you put into the PPM that’s important.” — @Mauricio_Rauld [0:05:03]
Links Mentioned in Today’s Episode:
Mauricio Rauld on LinkedIn
Mauricio Rauld on YouTube
Mauricio Rauld on Twitter
Premier Law Group
Passive Income through Multifamily Real Estate Group on Facebook
Gary Lipsky on Twitter
APT Capital Group
APT Capital Group - YouTube Channel
Kyle Mitchell on Facebook
Garzella Group
On today’s Friday Edition of The Passive Income Through Multifamily Real Estate podcast, we welcome Kenny Wolfe of Wolfe Investments. Kenny has been investing in multifamily real estate since 2010 and co-founded Wolfe Investments in 2012. He has been involved in over $130MM+ worth of commercial real estate transactions throughout Texas, Colorado, Louisiana, Oklahoma, and Ohio and is here today to talk to us about what he has learned, and what he is still yet to discover, about asset management. As COVID-19 pushes the world into using technological tools to survive, the real estate industry is no different. We discuss the shifts happening to move more residents and prospects online, as well as the age-old power of skills such as remaining calm during this time of global uncertainty! Not only do we look at the present, and into the future in this episode, but we also honor the past by reflecting on the biggest lessons and challenges Kenny has faced throughout his 10-year journey in real estate. Take a listen to gain some wisdom from the past as we dive into the future!
Key Points from This Episode:
- The top three things Kenny would tell his younger self about asset management.
- Why asset management is a great business to be in if you’re a people’s person.
- Kenny’s best partners in asset management today and how he discovered them.
- The key differences between managing a 50-unit property and a 200-unit property.
- How Kenny’s biggest success as an asset manager started out with a D-asset.
- Foundation issues: Kenny shares his hardest lessons learned as an asset manager.
- Discover how the world of asset managing might look three years from now.
- How COVID-19 is pushing more residents to online leasing, applications, and tours.
- The power of remaining calm, approachable, and communicative during this time.
Tweetables:
“Asset managing is harder than you think. It’s not some part-time gig everyone’s always talking about.” — Kenny Wolfe [0:01:35]
“When my gut tells me ‘I can’t breathe,’ I know I’ve got to hire somebody.” — Kenny Wolfe [0:14:43]
“This is pushing more of our residents and our prospects online.” — Kenny Wolfe [0:06:50]
“My asset manager superpower is to remain calm.” — Kenny Wolfe [0:08:14]
Links Mentioned in Today’s Episode:
Wolfe Investments
Wolfe Investments on LinkedIn
Wolfe Investments on YouTube
Kenny Wolfe on Facebook
Rently.com
APT Capital Group
APT Capital Group - YouTube Channel
With all the different concerns that go into real estate investing and the multifamily business, the human element can sometimes be understated. After all, managing a residential property is first and foremost about providing people with a place to stay! This is the attitude of our guest today, Jamie Gruber, who has a strong philosophy of putting people first. This does not mean that he is not business-minded or focussed on making money and shrewd decisions, rather that he does so with a strong emphasis on the human element and what the effect will be on the residents of his properties. Jamie tells us how he aims to treat residents as he would like to be treated and tries to have as much meaningful communication with them as possible. This means surveying their needs and desires, providing good maintenance services, and reasonable notice on rent increases. We get into some examples of issues that can be encountered in the game of multifamily and Jamie shares his ways of dealing with potential hurdles. So for all this and a bunch more useful info for your business, join us on this edition of Asset Management Fridays!
Key Points From This Episode:
- Jamie's current professional set-up and how real estate fits in.
- The tenant experience Jamie tries to provide on his properties; safe, clean and affordable.
- Rent-raising plans for Jamie and handling this in a sensitive and sensible way.
- Using average rent as a KPI when addressing a new property's residents.
- Issues that arise with residents and ways to deal with these in a people-first manner.
- Jamie's asset management superpowers! Relatability and understanding.
Tweetables:
“It is about the people aspect and it is about not even calling them tenants, but more residents.” — @TheJamieGruber [0:01:44]
“We try to create a sense of community within the units by communicating effectively, meeting with folks face to face, meeting them in the common areas.” — @TheJamieGruber [0:02:09]
Links Mentioned in Today’s Episode:
Jamie Gruber
Multi-Family and More
Jamie Gruber on Twitter
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
Garzella Group
redIQ
APT Capital Group
APT Capital Group - YouTube Channel
If you are in the real estate game currently or are thinking about diving in, chances are you have heard the term 'refinancing'. If you have not, do not fear, we have James Kandasamy from Achieve Investment Group here to explain the idea and share his wisdom on the subject! James joins us for this edition of Asset Management Fridays and we go through all the important points about refinancing and how James has used it to build his business. He has experienced amazing growth and success in a relatively short period of time and we hear all about his impressive business before jumping into what refinancing entails. We unpack the intricacies of the topic, talking about return on capital versus return of capital and which types of loans might suit your needs best. James gives us some insight into fees that are associated with refinancing and he warns us about pre-payment penalties and other hazards. We learn a bunch of lessons from James today about your DSCR, avoiding bridge lenders, and more, so make sure to join us on the show to get it all!
Key Points From This Episode:
- James' business and how large his company has grown in the last five years.
- The tricky business of refinancing; smart times to do it and the power that it offers.
- Return on capital versus return of capital and the dilution of the term 'cashflow'.
- Possible difficulties that arise in the refinancing cycle and during the deal.
- James' ideas on long-term debt and the use of bridge loans.
- Avoiding pre-payment penalties and making use of conventional bank loans.
- The array of rates and fees that go into a refinance and the two ways to approach it.
- James' asset management superpowers: controlling expenses, using data, and more!
Tweetables:
“When I buy a deal, I already know that that I can refinance this deal in one or two years.” — James Kandasamy [0:01:53]
“The power of commercial real estate, especially on a deep value add deal, is on refinances.” — James Kandasamy [0:02:46]
Links Mentioned in Today’s Episode:
James Kanasamy Email
Multi-family Investors Facebook Group
James Kandasamy on LinkedIn
Achieve Investment Group
Achieve Wealth Through Value Add Real Estate Investing Podcast
Fannie Mae
Zillow
APT Capital Group
APT Capital Group - YouTube Channel
Apartments.com
Garzella Group
Brandon Hall is a CPA who runs a firm called The Real Estate CPA, and in today’s episode, he talks to listeners about taxes. His first recommendation is for syndicators to understand what they are trying to accomplish with their deals and whether they are aiming to tax optimize or simply break even. He goes on the explain the importance of knowing the 2013 tangible property regulations and how it pertains to syndication, and then gets into why electing out of the business interest limitations is advisable in most instances. Brandon walks listeners through the nitty-gritty of the K-1 form, where the most pertinent details are located, and why it is of utmost necessity to keep track of your capital balance as a limited partner.
Key Points From This Episode:
- Learn about Brandon’s CPA firm, its clientele, and the number of employees.
- The three biggest tax considerations that asset managers should pay attention to.
- Why it is important to know the 2013 tangible property regulations.
- Establishing whether you are trying to maximize losses or simply break even.
- Advice for when syndicators should seek help with their taxes.
- An explanation of what business interest limitations are and how they impact syndicators.
- A breakdown of what a K1 looks like and the details that are relevant to you.
- The importance of tracking your capital account balance as a limited partner.
Tweetables:
“If I put 50,000 bucks into a partnership, then my capital account is 50,000 bucks. If the partnership liquidates and it has a gain, first they have to pay me back my 50,000 before it's allowed to distribute gain to anybody else.” — @BHallCPA [0:10:02]
“The biggest thing that you need to make sure that you very clearly track is that capital count on an ongoing basis.” — @BHallCPA [0:12:08]
Links Mentioned in Today’s Episode:
Brandon Hall on LinkedIn
Brandon Hall on Twitter
The Real Estate CPA
Passive Income through Multifamily Real Estate Group on Facebook
Gary Lipsky on Twitter
APT Capital Group
APT Capital Group - YouTube Channel
Kyle Mitchell on Facebook
Garzella Group
In the current climate, we can all do with a little extra advice and support on the different parts of the real estate investing business. On the show today we have Brian Burke to shed some light on refinancing and how to do it to your best advantage. We hear from our guest about his experience in the field of real estate and how he is currently positioned in the space. After that, Brian shares his thoughts on refinancing and his own best practices for the process. He shares parts of the process that have led to trouble and a particular story in which he ran into some difficulties. We discuss amounts of time for holding property before looking to refinance and then get into the different costs that can go into it. Brian makes a strong argument for using floating rates in order to avoid certain risks while taking on smaller ones and we finish off thinking about important aspects to focus on during the corona crisis. Make sure to tune in to get it all!
Key Points From This Episode:
- Brian's current setup in multi-family and what his business does.
- The refinancing process and how and when Brian goes about it.
- Troubles that Brian has faced during the refinancing process and one example.
- Periods for holding a property before looking to refinance.
- The fees associated with the refinancing process and why Brian prefers floating rates.
- Potential downsides of floating rates and how the upside outweighs this for Brian.
- Brian's asset management superpower; survival and making it through difficulties.
- Advice from Brian for those going through the current turbulence with COVID-19.
Tweetables:
“I’m a real big believer in a buy and watch investment strategy which means we buy the asset and we improve the asset and we improve the income and then we watch the market for the right time to exit.” — Brian Burke [0:01:25]
“For us, it’s really about timing and how long we plan to hold.” — Brian Burke [0:02:11]
Links Mentioned in Today’s Episode:
Praxis Capital
Brian Burke on Instagram
BiggerPockets
Walker and Dunlop
APT Capital Group
APT Capital Group - YouTube Channel
Passive Income through Multifamily Real Estate Group on Facebook
The period that follows the closing of the deal is vital in the outcomes of your investment. Here on this edition of Asset Management Fridays to talk of their practices in the 30 to 90 days following a purchase is Mark Hentemann! Mark is a television writer, having worked on high-profile shows such as Family Guy and with David Letterman! Mark explains his particular type of investing and how he got into the business after moving to Hollywood to be a writer. He is a specialist in restoring older buildings with vintage value and appeal. Much of this tendency comes from Mark's creative side, as he loves to visualize what something dilapidated and out of favor could be! Mark speaks about his strategy for the first few months, which entails a lot of observing, waiting, and evaluating. From there, he gives attention to the exterior and what he calls curb appeal, moving to the entranceways and then into the actual apartments. He believes in providing convenience and value for tenants with particular attention given to kitchens, floors, bathrooms, and electrical fixtures. Mark also talks about opening spaces up, aiming for more natural light and how much he enjoys this restoration process, so make sure to join us today to hear it all!
Key Points From This Episode:
- Mark's career as a TV writer and why he decided to invest in real estate.
- The first 30 to 90 days after the close for Mark; tenant value creation.
- Adding value after the initial period and Mark's early focus on the exterior.
- Tools for property management; companies and personal management to coordinate with.
- The distinct and different roles for property management and how Mark differentiates these.
- The value that tenants place on kitchens, floors and bathrooms!
- Looking at the trends away from confined spaces to more open-plan living.
- Mark's asset management superpower! Seeing the beauty in something old and dumpy!
Tweetables:
“I pumped my first payments once I got any kind of traction into real estate and immediately got hooked and I’ve been doing it ever since and plan to do it until I’m a hundred.” — Mark Hentemann [0:01:36]
“I, out of sheer necessity, gravitated towards the cheapest properties I could find.” — Mark Hentemann [0:02:18]
“I don’t want to start spending or jumping to a major project until I get to know the property a little bit and see where the flaws are or where the issues are.” — Mark Hentemann [0:03:23]
Links Mentioned in Today’s Episode:
Mark Hentemann Email
Quantum Capital
Wild West Real Estate Show
Family Guy
David Letterman
The Emmys
American Greetings
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
APT Capital Group
APT Capital Group - YouTube Channel
Garzella Group
For this edition of Asset Management Fridays, we are joined by the up and coming Spencer Hilligoss from Madison Investing! As a relatively young mind in the multifamily game, Spencer brings enthusiasm and a sense of purpose to his work, believing strongly in communication and authenticity. Our conversation today centers on relations with investors and Spencer shares some great lessons he has learned about giving investors what they need while taking care of assets in the best way for everybody. We discuss frequency of communication, the best things to share and update on, and keeping a difficult conversation on course and timely. Spencer does not shy away from talking about the touchy stuff and states that if done in the right way, investors will be thankful. For this great chat with a fresh talent in the world of multifamily, join us today!
Key Points From This Episode:
- Spencer's path to real estate and how he landed in multi-family recently.
- Communicating with investors and Spencer's approach to this task.
- What to include in investor reports and why Spencer focusses on pictures.
- The biggest lessons that Spencer has learned thus far!
- Important factors for investors; timely and adult communication.
- Spencer's asset management superpowers; authenticity and communication.
Tweetables:
“We do a monthly update for the vast majority of our projects.” — @SpenceHilligoss
[0:02:34]
“I try to really go above and beyond and communicate with both authenticity as well as just keeping it clean and simple on the monthly updates.” — @SpenceHilligoss [0:03:30]
Links Mentioned in Today’s Episode:
Spencer Hilligoss on Twitter
Spencer Hilligoss on LinkedIn
Madison Investing
Passive Income through Multifamily Real Estate Group on Facebook
APT Capital Group
APT Capital Group - YouTube Channel
Kyle Mitchell on Facebook
Garzella Group
We can all agree that this moment is unprecedented and now is the time to be working on the best strategies for coping and laying foundations to weather similar future storms. Joining us today to speak about how her company is dodging curveballs is Anna Myers from Grocapitus Investments. Anna shares some valuable advice for listeners both from an asset management standpoint as well as with regard to how teams should be working together. She weighs in strongly on the value of working with property management firms who have a disaster plan in place, and people shouldn't be scared of using each other’s ideas if they are good ones. It’s about implementing whatever knowledge we can to survive right now. Anna also talks about how her team has switched their mindset from a wealth generation to a capital preservation focus. Our guest gets into some of the specifics of how Grocapitus is dealing with tenants right now, touching on the fine line between offering assistance, filling units, keeping rents paid, and making sure not to accept people who might cause trouble. For some great tips for switching gears and traversing this unfamiliar terrain be sure to tune in.
Key Points From This Episode:
- An introduction into Anna and the value-add/constructed units at Grocapitus.
- The use of management firms and tech in Grocapitus’ systems.
- Anna’s first call in a crisis: her property managers.
- Best practices that are happening right now as far as survival is concerned: collaboration.
- Things to focus on from an asset management standpoint: preserving, not producing, capital.
- Looking out for delinquency rates and how to judge normal ones presently.
- Focusing on occupancy but being cautious because bad tenants can’t be evicted now.
- Different processes to focus on after the crisis is over.
- Continuing to build a ‘war chest’ to buffer future crises; taking on fewer expenses.
- Percentages of drops in net operating income Anna foresees.
- Why people will use their stimulus dollars to pay rent.
- Anna’s superpower: organizing people and data.
Tweetables:
“We really have to team up with our property managers on this. We have to have really, really tight communication. This is a whole emerging world we're in.” — Anna Myers [0:03:21]
“We don't normally have this type of situation where we can't use the eviction as a threat.” — Anna Myers [0:06:02]
“Our number one initiative right now as asset managers is capital preservation of our investors.” — Anna Myers [0:07:59]
“Yes, you can buy real estate in this time.” — Anna Myers [0:11:28]
Links Mentioned in Today’s Episode:
Anna Myers
Grocapitus Investments
Gary Lipsky
Multifamily University
Neal Bawa
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
APT Capital Group
APT Capital Group - YouTube Channel
Welcome back to the show and another edition of our Asset Management Fridays! Here to talk about her management process, systems and style is Maureen Miles from 4M Capital. As a returning guest, Maureen has so much to offer, with success in many avenues of real estate having branched out from a simple investment team to a multi-faceted company taking care of almost all areas of the business. For Maureen, this was a necessity after the frustrations of working with contractors who did not deliver — so she decided to handle it all! During our chat, she gives some great tips, including making sure that you are the signer on all your accounts to avoid being locked out of your money! We talk about the operations manual that is available to new employees at 4M and Maureen tells us about the software stack they use and how they are hoping to upgrade areas of it. We get into some future aspirations and our wonderful guest explains why she loves challenging deals that need some work! For all this and a bunch more from us here at the show, tune in!
Key Points From This Episode:
- Maureen's company, 4M Capital, and the array of work that they do in real estate.
- The frustration that led up to Maureen starting her own property management company.
- Why to make sure you are a signer and not a user on all of your accounts.
- The operations manual that Maureen and her team put together for the company.
- Challenges that arise when starting a property management company and Maureen's advice.
- The software tools that Maureen uses; Yardi, Asana, and EOS system.
- Maureen's process aimed at becoming a third party property manager.
- Recent lessons that Maureen has added to her list of checkups.
- What Maureen is looking for in her upgrading from Yardi to more sophisticated software.
- Maureen's asset management superpower! Going in for the dirty and unusual opportunities!
Tweetables:
“One of the biggest things I tell anybody that is going to use a third-party management company is to make sure that you are an actual signer on all of your bank accounts.” — Maureen Miles [0:03:20]
“Make sure you have people that are really aligned with you that can help you do it.” — Maureen Miles [0:06:00]
Links Mentioned in Today’s Episode:
Maureen Miles
4M REI
Yardi
ResMan
Asana
APT Capital Group
APT Capital Group - YouTube Channel
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
In this episode, listeners can look forward to hearing about the 30 to 90-day post-close process from Matt Picheny, a managing partner at MJP Property Group. He discusses the importance of establishing a plan for each of the three intervals so that action can be taken as soon as each new step of the acquisition process is finalized. As you will learn from Matt, the post-close process, in fact, starts pre-close, in particular, in the period between due diligence and the deal closing. Matt also gives suggestions for burning off the loss to lease, adding value to a property right away, and he gives examples of how tenants can be eased into higher rates. Tuning in, listeners will also hear how Excel dashboards can be used to stay organized and in step with property managers and Matt explains why attention to detail is a superpower.
Key Points From This Episode:
- Hear how many units Matt is invested in and the ratio of active to passive.
- Putting together a list of 30, 60, and 90-day goals following the close of a deal.
- Looking for immediate add value and burning off the loss to lease as soon as possible.
- Things you can do to soften the blow of bringing the rent up to the full market.
- Gathering the post-close team in the period between due diligence and the deal closing.
- Find out which software and tools Matt uses to keep organized.
- Critical pieces on the Excel dashboard that are discussed with proper managers.
- Matt’s asset management superpower: laser-focused attention to detail.
Tweetables:
“I like to put together a list of 30, 60 and 90-day goals that I look to accomplish once I've closed on a property.” — Matt Picheny [0:01:57]
“What I found is those tools are only as good as the input that's going into them. If all of your team members aren't on board and familiar with that software, it doesn't really work very well.” — Matt Picheny [0:07:22]
Links Mentioned in Today’s Episode:
Matt Picheny
Matt Picheny on LinkedIn
Matt Picheny Email
APT Capital Group
APT Capital Group - YouTube Channel
Asana
Apartments.com
Passive Income through Multifamily Real Estate Group on Facebook
Gary Lipsky on Twitter
Kyle Mitchell on Facebook
Our guest today is Neal Bawa from Multifamily University and he is here to speak to us about his business and how he uses technology and data to stand out in the real estate market! Neal believes that doing your own marketing is preferable and this means going out and making sure you are seen! He explains his ideas of mega marketing and mega leasing and how they fit into his business model. These concepts are not necessarily for everyone but there might be a way that they can be incorporated into different size businesses, as Neal admits that his mega leasing strategy only makes money in a large scale model. Our guest also emphasizes his reliance on data and how following the numbers in the industry enables him to stay ahead of the game. We finish off our conversation thinking about the constant work that is required in multifamily real estate and how to address the never-ending line of bottlenecks that arise. For all this, join us on another great edition of our Asset Management Fridays, here at the Passive Income Through Multifamily Real Estate podcast!
Key Points From This Episode:
- Neal's attitude toward third-party property management for marketing.
- The concepts of mega marketing and mega leasing and how Neal employs these.
- The services and site where Neal posts ads and how he makes sure not to get buried.
- Considering how to employ Neal's strategies at a smaller scale.
- Neal's asset management superpower! Using data and trends to excel!
- Addressing issues and relieving bottlenecks constantly for successful asset management.
Tweetables:
“I believe that syndicators should be doing their own marketing in just about every instance.” — @nealbawa [0:02:24]
“Mega marketing is the process of generating a large number of tenant leads or prospect tenant leads by actively engaging tenants and doing a very large number of listings across the board.” — @nealbawa [0:02:57]
“Basically, almost all of the profit in the apartment industry is between the 87% and the 97% mark.” — @nealbawa [0:06:32]
Links Mentioned in Today’s Episode:
Multifamily University
Neal Bawa
Neal Bawa on Twitter
Zillow
Cozy
Rentler
Rentlinx
APT Capital Group
APT Capital Group - YouTube Channel
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
Many business owners would argue that a large part of success comes down to having the right people around you. One such a person is Tim Bratz, the President of Legacy Wealth Holdings, who joins us to talk about hiring the right people to build a strong, committed team. The conversation starts with Tim explaining the need for a Steve Jobs and a Steve Wozniak on your A-team: one who is the visionary and one who is skilled at operations and the more technical aspects of the business. He walks listeners through his thought processes around his first hire, how this person propelled his exponential growth, and why hiring an employee to solve each new obstacle is a bad idea. Tim also shares how they have used the DISC personality assessment to pair the right people with the right roles, the importance of doubling down on your strengths by focusing only on those while delegating everything else, and he gives listeners some insight into how the compensation for their core team members is structured to ensure everyone’s buy-in.
Key Points From This Episode:
- Hear about Tim’s transition from real estate broker to owner and his total portfolio value.
- The requirements of a strong team: having a combination of visionaries and operators.
- Understanding that growth cannot happen unless you let go of control.
- Tim’s first-ever hire and how it helped him to triple his income.
- Falling into the trap of hiring a new employee every time you run into a problem.
- The numerous difficulties with owning a property management company.
- Where Tim found the 200 employees who are currently working for him.
- Staying in your genius self by focusing on your strengths and delegating the rest.
- How Legacy Wealth Holdings go about finding people with the right character traits for each role.
- Hear how the compensation is structured so that members remain motivated and committed.
- Find out what Tim’s assets manager superpower is!
Tweetables:
“You need two types of personalities to run a business. One is kind of that visionary, more the CEO mindset, kind of like Steve Jobs. But you need the technical element which is like the Steve Wozniak.” — @TimBratz [0:01:58]
“What I do know about growth is that it works inversely to control. You have to give up control in order to grow.”— @TimBratz [0:02:26]
Links Mentioned in Today’s Episode:
Tim Bratz on LinkedIn
Tim Bratz on Instagram
Tim Bratz on Twitter
Legacy Wealth Holdings
Steve Jobs
Steve Wozniak on Twitter
Donald Trump
Barack Obama
George W. Bush
DISC Personality Assessment
Passive Income through Multifamily Real Estate Group on Facebook
Gary Lipsky on Twitter
Kyle Mitchell on Facebook
APT Capital Group
APT Capital Group - YouTube Channel
Now more than ever, due diligence is a vital part of the real estate business. Greg Dickerson is an expert on the subject and has a mammoth amount of experience in the game, having started out back in the 1990s! We hear from Greg about his history in the field of real estate and how he made his way into multifamily before getting into his due diligence process and how he has refined it over the years. Greg does a great job of unpacking the important aspects and which need the most attention and he shows how he keeps his finances covered in these circumstances. He touches on how the coronavirus crisis has only increased the necessity of these precautions too. We speak about tools and systems and Greg alerts us to some of the common hurdles and potholes you may run into during the acquisition process. With a lot of experience on the construction side of things, Greg is well versed enough to keep himself safe from most of the unknown qualities in real estate and he shares about reasonable and healthy amounts of time for these processes and how long each step may take. For a brief yet comprehensive look at this important part of your business, please join us on the show today!
Key Points From This Episode:
- Greg's background in real estate development and his current work in the space.
- The process of due diligence and who is involved at various phases.
- Assessing the different areas of the property and surrounding spaces.
- Impacts of the coronavirus on the due diligence process.
- The checklist that Greg uses to make sure that standards are met.
- Tools for automation and convenience when going through the checks.
- The kinds of surprises and problems you can run into when making a purchase.
- How Greg's experience in the construction business serves him now.
- Time-periods for due diligence and why Greg works on a minimum of 60 days.
- Greg's asset management super powers; risk assessment and construction costs.
- Preparing for the unforeseen elements of due diligence and allowing time for these.
Tweetables:
“I’ve been in the business since 1997, started as a remodeling contractor, built that to a 30 million dollar company in seven years and sold it.” — @AGregDickerson [0:01:00]
“My whole philosophy has been build businesses that generate cash flow to invest in other assets so for me, that was real estate into commercial real estate, into land development, into bigger projects.” — @AGregDickerson [0:01:10]
Links Mentioned in Today’s Episode:
Greg Dickerson
Greg Dickerson on YouTube
Greg Dickerson on Twitter
Excel
Word
Enodo
Walker and Dunlop
Passive Income through Multifamily Real Estate Group on Facebook
Kyle Mitchell on Facebook
APT Capital Group
APT Capital Group - YouTube Channel