Commercial Real Estate Pro Network

Today, my guest is Allen Buchanan. Allen Buchanan is an S, I, O, R, and is a nationally recognized commercial real estate broker, columnist, speaker and creator of the sequence success framework. He's also a principal at Lee and Associates in Orange County, California, and in just a minute, we're going to speak with Allen Buchanan about building a successful career in commercial real estate.  https://www.linkedin.com/in/allenbuchanan/ http://www.allencbuchanan.com/  

J Darrin Gross If you're willing, I'd like to ask you. Allen Buchanan, What is the BIGGEST RISK?   Allen Buchanan Darrin, for me, the BIGGEST RISK is relevance. And I use this in a micro sense, in a macro sense. The micro sense is, I'm 68 years old, and so I realized that I'm on the back nine, maybe the last three holes of my career. And so maintaining relevance with those with whom I deal, first and foremost, family members, clients, friends, etc, there's then a relevance in terms of the commercial real estate profession. I know you've had guests on your podcast that specialize in artificial intelligence, and if you look at the ways in which artificial intelligence is chipping away at what all of us in the sales profession do, you'd have to realize that there's a greater risk that at some day, commercial real estate brokers become, you know, irrelevant. So to me, that's the biggest risk that we face, both on a micro and a macro level, going forward.  https://www.linkedin.com/in/allenbuchanan/ http://www.allencbuchanan.com/  

Today, my guest is Bob Lachance. Bob Lachance is the founder and CEO of Riva Global, the leading virtual assistant staffing company for real estate investor professionals. Excuse me for real estate professionals, and in just a minute, we're going to speak with Bob LaChance about virtual assistants for real estate professionals.   https://revaglobal.com/ https://www.linkedin.com/in/boblachance/  

J Darrin Gross I'd like to ask you. Bob Lachance, what is the BIGGEST RISK?     Bob Lachance Well, for my virtual I'll give you two answers. My virtual assistant company, it is AI, so stepping ahead of that, and in being aware of that and training our virtual assistants be to become experts on that, that now gives me the insurance I need to stay in business as a real estate professional, I would say, you know, if your niche is rehabbing properties or niches commercial, train yourself on another niche, just in case something happens, right? So, for instance, in the residential real estate world, wholesaling is starting to become more challenging in some states. So if you're just a wholesaler as an example, start buying and holding to offset those risks. Start learning how to rehab to offset so offset those risks. So it's really putting more tools in your tool belt and whatever industry you're in. So I would say that would be, that'd be something to do. And I started real estate 21 years ago, and where you start is never where you end, right? I mean, you could probably attest to that, Darrin, you probably didn't start in insurance, insurance brokerage and things like that. You've probably gone through a series of experiences for you to get where you are now.   https://revaglobal.com/ https://www.linkedin.com/in/boblachance/  

Today, my guest is Brian Roberts. Brian Roberts is with Dandelion where he serves as director of business development, and in just a minute, we're going to speak with Brian Roberts about high performance, Earth powered geothermal heating and cooling.   https://dandelionenergy.com/  

J Darrin Gross I'd like to ask you, Brian Roberts, what is the BIGGEST RISK?   Bryan Roberts Yeah, of course, the biggest risk, one of the biggest risks, I would say, for geothermal HVAC systems is late integration into the project. If a developer brings us in after the mechanical engineering the MEP is finalized or or even well underway, we're. Often trying to retrofit a solution into a system that wasn't designed to support it. There can, at times, be a little bit of a knowledge gap. Many architects and engineers will default to legacy HVAC systems simply because that's what they're most familiar with. And we see some missed opportunities because geothermal wasn't on the table early enough. So I would say it's really important that we get involved in the conversation early. That's that's a huge risk for us to not be involved early enough. On the flip side, if, if I look at it from the developers perspective, those developers who don't go with geothermal, their risk is future obsolescence. You're looking with fossil fuel systems that may soon be out of code, that are unattractive to future buyers, or burden with expensive retrofit requirements and and on top of that, you're leaving major tax credits on the table that are available to offset the upfront costs and make it possible for you to enjoy lower operating costs over the long haul. https://dandelionenergy.com/  

Today, my guest is Adiel Gorel. Adiel is one of the leading experts on real estate and real estate investment in the United States and around the world. He is the author of five books, including his Amazon bestseller, Remote Control, Retirement Riches. And in just a minute, we're going to going to speak with Adiel Gorel about The Miracle Real Estate investment, Sitting in Plain Sight.   https://icgre.com/event/  

J Darrin Gross Adiel Gorel, what is the BIGGEST RISK?   Adiel Gorel With your permission, I'm going to riff the answer, not going to be one sentence, just a few sentences to me knowing what I know now, funnily enough, the biggest risk is doing nothing at all, because later in the future, you say, Oh, my God, I could have owned three houses. Okay, so doing nothing is a very big rate, but Okay, fine. Within the realm of actually doing stuff and buying rentals or buying property. To me, a big risk is buying junk and buying junk. It's easy to say, don't buy junk, but junk is very attractive. Why? Because people have a notion about cash flow, and typically, the worst the home, the worse the neighborhood, the worse the city on paper, the cash flow looks better. Life doesn't happen on paper. So the biggest risk is to buy junk. It's like in software, garbage, in garbage, out. I know people say, Well, we're gonna fix it. No, really is the was the fix up good? Okay, so to me, not buying new is a big risk, mitigating it. Buy new in good areas, but related to your sphere, I also consider it a risk to be under insured. You need to be well insured on your property and get the maximum liability insurance that your insurance agent can offer. Of course, we make it so that it all taken is taken care of for you. But I recommend never being, you know, under insured, because that's an opening for risk.   https://icgre.com/event/  

Today, my guest is Andy Gurczak. Andy is the founder of All City Adjusting, a licensed Public Adjusting firm with a focus on making sure the clients get what they truly deserve from their insurance claims. https://allcityadjusting.com/ Ph: (708)655-4186  

J Darrin Gross  I'd like to ask you. Andy Gurczak, What is the BIGGEST RISK?   Andy Gurczak Biggest Rsk? Cut me up. Cut me off guard, not you know what I'll say, not maintaining your home. I think a lot of people the biggest risk is people not maintaining their home, and then homes falling apart, having damage which they all expect the insurance to cover. And it's not, you know, singles falling off your window, caving in, you know, two by fours leading to the left, drywall peeling. Those are all prevented, like, those are all maintenance of your home. And so the biggest risk I I think, is, is just people then expecting the insurance company to be their warranty, their handyman and everything and and it be done for free, and you probably see it on your side too as an insurance broker.  https://allcityadjusting.com/ Ph: (708)655-4186  

Today, my guest is Richard Ross. Richard is the CEO of Quinn Residences. Quinn Residences is a is a leading institutionally backed owner, operator and developer of dedicated Rental Communities in in the southeastern United States. https://live-quinn.com/

J Darrin Gross  If you're willing,    Richard Ross You're asking, what keeps me up at night is that?    J Darrin Gross That's right. Richard gross, what is the BIGGEST RISK?   Richard Ross So people in this business typically would say interest rates, and certainly the elevated level of rates has been a factor. My opinion on interest rates is, as long as they're stable, I can deal with them like I can price my product, if you will. What keeps me up at night today, and you sort of alluded to it, is regulation and legislation, particularly anti renter bias, and that's mostly local. I'm talking rent control. I'm talking prohibition against renting because somehow we are impeding people from buying homes. The facts don't bear that out. But you know, you can get a law passed that says you can only rent five homes and 100 home subdivision. Well, that's a problem for me. It's a problem for you, probably, as a owner of rental property. So that's, that's would be the biggest risk today is, is a sort of a myopic approach and an anti renter bias that a lot of local municipalities have. https://live-quinn.com/

Today, my guest is Vince Gethings. Vince is the co founder of Tri City Equity Group and the owner of Wheelbarrow Profits Academy.   Vince@wheelbarrowprofits.com https://www.vincentgethings.com/ https://www.linkedin.com/in/vincent-gethings-50420a137 https://www.instagram.com/vince.gethings/  

J Darrin Gross If you're willing, I'd like to ask you, Vince Gethings, what is the BIGGEST RISK?   Vince Gethings What I've seen, it'd probably be over leverage. I know it's kind of the easy answer, but a lot of the issues that I've seen of people being forced their hand is forced to take action is because they're an over leveraged position and they don't have they don't have the working capital. They don't have the liquidity to kind of weather the storm. So they're being forced to take action where a lot of kind of more seasoned investors are sitting on their hands right now, and they can afford to do so, and they're not, they're not being forced to do, to buy or sell. So that, that is what I see right now. As far as the biggest risk of the people that you know we had, we had the survive to 25 mantra, all in the last two years. And that's the that's not working. So maybe it's survived for 26 527, but, um, but, and I think, I think that could have been a lot of that could have been prevented if just keeping keeping leverage in check. And, yeah, that's probably the, probably the biggest one. I can probably go half a dozen more, but that's one I'm going to go with. Vince@wheelbarrowprofits.com https://www.vincentgethings.com/ https://www.linkedin.com/in/vincent-gethings-50420a137 https://www.instagram.com/vince.gethings/  

Today, my guest is Brian Seidensticker. Brian Seidensticker, he founded Tax Sale Resources, TSR in 2010 and in 2017 Brian partnered with software developer SDA solutions, a comprehensive workflow management system. And in 2020 Brian launched mount North Capital, a 506 C fund, providing capital to tax deed investors. And in just a minute, we're going to speak with Brian Seidensticker about Delinquent Tax Investing.   https://www.taxsaleresources.com/  

J Darrin Gross  If you're willing, I'd like to ask you, Brian Seidensticker, what is the BIGGEST RISK?   Brian Seidensticker I guess, you know, as far as buying tax deeds or the fund itself, it's for you to to, for me to interpret. Well, I think it's, it's from a tax, just tax sale properties, taxes and taxes in general, the biggest risk is the underlying property value, right? That That alone addresses the you know, is this, is this lien going to am I going to be able to make a return on this lien or this deed at the end of the day, or not? And that that is your number one risk? Right is, is assuming that you can, can make sure that your underwriting process addresses that right, and that you can't eliminate it, because things can happen right? I've certainly seen and been and been involved in a property that was purchased and then, for whatever reason, gets demoed, or, you know, has a fire break out, or whatever, what you thought that property value was right is no longer there, right? And so, you know, either your model has to address that loss, right, or you have to, you know, accommodate for that loss in value. And so, you know, for example, tax lien folks try to ensure that okay, the loss in value from things that could happen like that, ultimately, still, you know, if I'm willing to that property less than 5% a lot of things can happen and you're still okay. Right? In the worst case scenario, on the tax deed side, it's not that easy, right? A lot of things can happen, and all of a sudden you thought you're in a great position, and all of a sudden you're upside down. But managing that asset value, underlying asset value, is the number one risk by far.   https://www.taxsaleresources.com/  

Today, my guest is Eddie speed. Eddie speed is the founder of Note School, and in just a minute, we're going to speak with Eddie speed about opportunities in private, note investing.   noteschool.com/crepn https://noteschool.com/  

J Darrin Gross I'd like to ask you. Eddie Speed, what is the BIGGEST RISK?   Eddie Speed Losing my money and losing my money means that I bought a note and I don't get enough recovery to go pay off my investment and still make a yield. So that could be that that could relate to non performing notes. Performing notes, it does everything down the line. It's like at the end of the day. That is why I like buying first mortgages with a cushion between what the collateral is worth and what I invested in the note. And that's the simplest form to say at the end of the day. That's my safety net, that cushion between what the collateral is worth and what my investment is in that note. noteschool.com/crepn https://noteschool.com/  

Today, my guest is Sandeep. Patel Sundeep is the CEO and co founder of Avana companies, an asset management and fintech firm that specializes in commercial real estate, private credit, lending and investing. And in just a minute, we're going to speak with Sundip about the impact of return to Office trends on the hospitality industry. https://avanacapital.com/ https://www.linkedin.com/in/sundipbpatel/  

J Darrin Gross I'd like to ask you Sundip Patel, what is the BIGGEST RISK?   Sundip Patel That's a great question. Darrin, by the way, so the biggest risk that I foresee, and in our business, is the underestimating of the impact of AI and to our business and everything we do, from assessing risk, evaluating risk, to, you know, funding that risk, the entire process. So we as a company have taken some bold steps to get ahead, to understand how we can apply AI and what it will mean. As as you remember when we started the conversation, my mission was to create jobs and maintain jobs. I live with that fear today, because you're asking me, what's the biggest risk? This is the risk that keeps me awake in the middle of the night when I think that I'm underestimating the true impact of AI that's coming really fast upon us and the sweeping impact it will have across all businesses, not just mine, but even others. And right now, I'm focused on making sure mine and my employees are upskilled and ready and changing fast so we can do more with less, but at least be ahead. https://avanacapital.com/ https://www.linkedin.com/in/sundipbpatel/  

Today, my guest is David Blumenfeld. David is the co founder of Next Rivet, a Silicon Valley based consultancy dedicated to assisting traditional physical businesses and leveraging digital technologies. And in just a minute, we're going to speak with David Blumenfeld about how AI is transforming real estate. david@nextrivet.com https://nextrivet.com/  

J Darrin Gross I'd like to ask you. David Blumenfeld, what is the BIGGEST RISK?    David Blumenfeld We're going to answer it a couple different ways, if that's okay. So I think I mean, and this, this first one might, might seem like a self serving answer, but I think the risk for real estate companies in general for not looking at technology. And again, it doesn't have to be the biggest, you know, the biggest, the newest, the the flashiest, but if you're not incorporating technology into your your your day to day operations, whether it be from a marketing perspective, a company, a leasing perspective, Building Management, etc, you are getting left behind and and the good news for you is that the real estate industry moves slow, but as it gets more and more competitive from insert certainly In certain asset classes, office being one of them to not be investing in kind of future proofing your building and your company is going to come back and bite you in the long term and so and both from a just an operational perspective, but also eventually, eventually from a recruiting perspective, where people who are going to you're going to want In your company are not going to want to work. Want to work at your company if you're not forward thinking. From a tech perspective, I think the biggest concern right now, excitement and concern certainly is with AI and things like conversational AI, like chat GPT, we have, we have clients who their legal departments come in and we can't use AI at all. And I think the concern, the practical concern there is, there is a risk of, if you're using kind of a, you know, chat GPT, or Microsoft co pilot, one of these, or Google Gemini, is it, depending on the information you're putting in to have, let's say you're like, I want to put, you know, I use it a lot for writing better copy, maybe of writing a better email than I wrote already, because I realized I'm just not saying that quite right. But you know, there's it's much more powerful than that. You can put in financial data, for example, that would spit back a spreadsheet for you, or different analysis that might you know normally take hours on in Excel. There is risk when you start to upload proprietary information from a financial perspective, but the but you need to kind of balance that risk with what you're what you're using those tools for, because they are very powerful and very efficient as well. So I think it's making sure you don't swing the pendulum one way or the other, like you need to certainly use AI in your business. But I think if you're going to start to do a lot of things through AI, you know, there are ways to protect the information that you're you're putting out there, and you don't have to just throw something in chat GPT. You can have an application that's specific to your company, that leverages AI, but may be able to spit out kind of your your own private version of chat GPT, so to speak. So you just need to be, you just need to understand the implications and the risks of of if you're using kind of a generic service, you know, be, you know, there is a risk that you're putting that data, not it's not necessarily means that those companies are going to use it against you, but you are uploading that information into into the cloud. And I think it's funny, you've seen a lot in America around like, Oh, we're going to ban Tiktok because we're worried about China, you know, stealing all this data. Well, China's come out with a lot of new AI platforms. Lately, nobody's talking about the data privacy implications. Like, I would be much more concerned about using, putting anything in a in a Chinese AI software platform versus, you know, my social media via Tiktok. So it's, it's just funny how people are not thinking about things holistically. And I think that's, that's just what you need to make sure you need to do. But again, as I said in my earlier very common beginning of, you know, the beginning of the conversation, don't get into analysis paralysis, where you justify doing nothing because you have to overthink it over and over again. david@nextrivet.com https://nextrivet.com/  

Today, my guest is Simon Isaacs.  In 2015 Simon moved his family from London to West Palm Beach, Florida, where he became more involved in the local real estate market after seeing an opportunity, and in just a minute, we're going to speak with Simon Isaacs about the real estate market trends.   https://isaacsrealestate.com/  

J Darrin Gross  I'd like to ask you, Simon Isaacs, what is the BIGGEST RISK?   Simon Isaacs Wow, I would say the biggest risk here. Big Question, the big question.  Demand. I. Demand is the biggest risk here. You know, demand for properties, demand, if you know you only need one event, one weather event, and everybody ends up leaving. So I would say demand and weather are the biggest risk in my book, yeah, clearly, in Florida, you're, you're one, you know, one, one major weather event, or something like that from, you know, sour people souring on the on the place, or at least, and it doesn't even need to be a major weather event. It just has to be enough that people are concerned and they don't want to deal with it, right?   And let me ask you this, do you feel that that's a a local attitude, or do you think it's more of a public perception that gets promoted, you know, news, etc, after an event, public perception, you know, we end up, you know, whether it's the tornadoes, the winds, etc, it stays on the news, which obviously we want to be alerted, you know, you want the warnings and things like that. But, um, the news definitely makes it drag out a little bit longer. But it is a serious it's a serious event, you know. And the tornadoes were an eye opener last year, because everybody thinks it's hurricanes and flooding, but that's not the case. So it's that public perception is, you know, https://isaacsrealestate.com/

David Codrea, co-founder of Greenleaf Capital Partners, discussed the hidden opportunities in small strip malls near new construction developments. He emphasized the importance of long-term cash flow and the resilience of retail despite negative perceptions. Codrea highlighted his investment strategy, focusing on retail and office spaces, and his preference for smaller, local service-oriented businesses. He noted typical investment sizes of $2-4 million and a preference for 3-5 year leases. Codrea also stressed the importance of efficient operations, quick tenant turnover, and the role of time as a critical risk factor in his business. https://www.linkedin.com/in/davidcodrea  

J Darrin Gross I'd like to ask you. David Codrea, what is the BIGGEST RISK?   David Codrea For me, what I see as the biggest risk that impacts my business the most is time. So it looks at it, there's a huge benefit to time, but there's also a huge risk if you are not able to get the ball moving on things so extended vacancy or or even just time to make a decision if it takes too long for your organization to get things through, to make, get, get approval for something, or make a decision on what you're going to do with this tenant or that tenant. I think that that can lead to a lot of risk. Because one, you've got an organization that doesn't really know, like, hey, which? How are we making a decision? When? When are we going to make the decision? And no one knows you have, you know, opportunities that can be missed because of inability to move.   And I think we've, if you look at business as a whole, a lot of times, really, really big companies. These look like the 10 biggest companies that are out there. It used to be that big companies would get slower, and now the more the shift is, some of these big organizations are just getting faster and faster and faster. If you look at Amazon, they're they've just been pushing to go faster. It used to be you get something delivered in a couple days, and then it became next day. And now it's like, Hey, can we do the same day? Like they're getting faster. I think they're realizing that time is time is the biggest risk that they have to for them to lose a customer in my business, you know, I'm not Amazon, but if we don't get back to people, we're going to lose them. You know that that mentality is shifting through to everyone. Everyone Everyone wants everything right now. So if you don't have a way to do things faster and avoid that loss of time, that's the biggest risk that's out there. And probably for any business. https://www.linkedin.com/in/davidcodrea

Today, my guest is Joel Miller. Joel Miller is the author of the best selling book, Build Real Estate Wealth. Enjoy the Journey of Rental Property Investment, and in just a minute, we're going to speak with Joel Miller about the Journey to Real Estate Wealth. https://www.joelmillerbooks.com/

J Darrin Gross  I'd like to ask you. Joel Miller, what is the BIGGEST RISK?   Joel Miller Well, I'm going to surprise you with the answer, but it's going to be two pronged here. From a financial standpoint, I will say that rental property can be a source for risk, which is why you typically should form an entity that you hold your properties in that protects your personal assets from things that might happen within your entity related to those properties. And on top of that, you know, I do recommend carrying replacement costs insurance on your properties and. A commercial liability insurance. You know, on top of that, to pick up where the liability coverage on your your underlying insurance is. So that's my financial part of that answer.    But the other prong I want to talk about is relationships. The risk is in losing relationships. You know, I am well known when I'm talking to like teaching the landlord one on one classes and masterminds and stuff like that. I am known for saying this thing, that if I had a choice of losing all my money or losing all my relationships, I would lose all my money in a heartbeat, because my relationships will help me get my money back. And if I have no relationships and a pile of money, what good is that? You know that that's failure. You know, as far as I'm concerned, so it's important to build and maintain relationships that are sometimes lifelong and sometimes might be for one project or something like that, because those are the people that are going to get you from point A to point B, and you've got to be that person to somebody else as well. You know it goes both ways, and so what I say is, don't make a withdrawal from a good relationship just to make a deposit in your bank account.   https://www.joelmillerbooks.com/  

Today my guest is Creek Stewart. Creek is an expert survival instructor and author of survival hacks and the best selling Build the Perfect Bug Out Series has been featured on The Weather Channel. The Today Show, Fox and Friends are just a couple places where Creek's been featured, and in just a minute, we're going to speak with Creek about get down to this Mastering the Art of Preparedness. https://www.creekstewart.com/

J Darrin Gross  If you're willing, I'd like to ask you Creek Stewart, what is the BIGGEST RISK?   Creek Stewart That's a great question, and I think most people would probably expect me to say that it's being lost in the woods or being struck by a natural disaster. But I guess I'm going to get real personal on this one I me personally being a wilderness survival instructor and a preparedness consultant. I see all of the bad things and think about all of the bad things and think about all the scenarios, right? And it's really easy for me to get caught up, just too much in all of the things of this world. And so I think my biggest risk is thinking that they, that they, I don't know, giving, giving them too much value, versus the things that are eternal, right? The things that last forever our life and these little natural disasters that happen, even though I'm in this business and even though I sell books on the subjects, they're just little tiny blips in this lifetime of eternity. And so for me personally, it would be to consume myself with the thoughts of the temporary things versus the eternal things. And I'm going to quote scripture on you. I always, I always think about this verse from Colossians, you know, set your mind on the things above and not on the things of this earth. And so my strategy for navigating that is to take time each day and try to spend time in solitude and prayer and reading scripture, and, you know, try to dig in a little bit deeper to the eternal side of things, so that I just don't focus so much on the negativity and the temporary. https://www.creekstewart.com/

Tilden Moschetti, an investment fund and syndication attorney, discussed Regulation D (Reg D) exemptions for raising capital. Reg D allows unlimited funds from accredited investors without advertising, with 98% of deals using it. Rule 506(b) allows non-accredited investors, while Rule 506(c) requires accredited investor verification. Accredited investors must earn $200K annually or have $1 million in net worth. Moschetti emphasized the importance of communication to mitigate risks and maintain investor trust. He noted that only 1-2% of cases lead to legal action if proper documentation is in place. His firm's turnaround time for Reg D filings is two weeks.   https://www.moschettilaw.com/  

J Darrin Gross I'd like to ask you Tilden Moschetti, what is the BIGGEST RISK?   Tilden Moschetti I'd say that it's lack of communication. So and that's which is unfortunate because it's also the easiest to fix, right? So lack of communication will lead to failure to identify risks, whether it's, you know, the kind of risks we think about in in the insurance game, like, you know, fire and hazard risk, right? We know those things are there, but communicating with your property manager, communicating with your tenants, communicating with those kind of people, can all help identify, hey, yeah. And by the way, the sprinklers never work when we do the testing, or  whatever those those things are that can help reduce that risk. But certainly in my world, things go bad when you don't talk to people. So if I could have the best deal in the world, send people their regular checks, but all I'm doing is sending them money, and if it just looks like a black hole, then investors are always going to be thinking, there's something wrong, you know, I don't I don't have any kind of transparency. I don't understand what's going on. Maybe this guy is ripping me off where it could be completely not true. But if I don't communicate, there's no way that they can ever know. And so I'd say, you. By far, almost every risk kind of boils down to that lack of communication, or at least communicating a lot, and really kind of understanding and listening and talking and kind of figuring out what's going on on any kind of asset is going to, at the very least, you know, reduce that risk, or help you identify it, or help mitigate it in some manner.   https://www.moschettilaw.com/  

Today, my guest is Rich Lee. Rich Lee is a top lawyer, or was a top lawyer for two companies, and richly experienced the reality that dispute resolution today is driven by pain due to legacy dispute resolution forums and courts. Rich set out to change this with New Era Alternative Dispute Resolution, or ADR, and in just a minute, we're going to speak with rich Lee about dispute resolution.    https://www.neweraadr.com/  

J Darrin Gross I'd like to ask you Rich Lee, what is the BIGGEST RISK?   Rich Lee I'll answer that kind of in like two parts really quickly, right? The first is, I think, you know, in the real estate industry, and actually in business in general, I think the biggest risk, you know, in a lot of just kind of business dealings is the relationship, right, and and maintaining good relationships, whether it's with an existing, you know, Counterparty, or, you know, a future counterparty or a former Counterparty. Relationships are everything you know. And so all the things you do right to mitigate that you know both before, and then, of course, you know during a relationship. And then, God forbid, you know if something sours in that relationship, I think that's, you know, it's critical. And something that I think is is often overlooked for us as a business, right? The thing that I will think about all the time, and that we obsess about is, you know, frankly, and it's, it's still related to the relationship, it's the user experience, you know, both on the platform, you know, on our actual technology platform, but also just the experience overall, and the experience for all the people that would be involved in in, you know, in a dispute on our on our platform, which is both, you know, the plaintiff, the defendant, the two sides who are actually in a disagreement, their lawyers, Right? So that's two more parties, and then the arbitrators and mediators themselves, you know, and their experience, you know, administering and adjudicating a case on our platform. And so it's something that we obsess over a lot in terms of, you know, both the people we hire, you know, finding the best people who are smart, bias towards action empathetic, right? So even your interactions with us are positive. And then, of course, everything, every product we design, every feature we add, every additional process we create, even every new rule or any rule change we make right to to our arbitration rules, always with that kind of end user in mind, and like what the experience is going to be. And, of course, fairness above all else. https://www.neweraadr.com/ rich.lee@neweraadr.com  

Today, my guest is Kelly Stratton. Kelly Stratton is the President and Chief Product Officer and founded Quire in 2010 to transform the manual, air prone Technical Report development process she experienced for more than the first 10 deck the first decade of her engineering career. And in just a minute, we're going to speak with Kelly Stratton about three trends that will define technical report management for project driven businesses in 2025. https://openquire.com/ Kellys@openquire.com  

J Darrin Gross I like, to ask my guests if they can look at their own situation. Could be your clients, the economy, you know, whatever it is that you, you identify and consider to be the BIGGEST RISK?   Kelly Stratton Yeah. And when you ask, like, the first thing that pops in my head, because I, you know, as the chief product officer, and I kind of help drive like, what is our product going to be, you know, today, versus, you know, six months from now, a year from now, and you know, we have a really strong feedback loop with our users, and they have a mandate for us about, how can we make a difference in their work lives and in their work product? And both those things are really important to me, because this is a bit like our platform, is a space they spend a lot of time in. And, you know, so, so you have that, but then you also have this, this powerful energy around AI, and how do we incorporate that intelligently and effectively into our product? And again, the mandate from our customers is, you know, is pretty specific. They want to be able to access their past experience. They want to be able to interact with their and harvest their intellectual property, and it that that you know, you know, again, I use the phrase institutionalize that knowledge that's really important to them. You know, in the past, it's just, you know, write the report and put it in the file folder, and then it's on to the next one. But there's an awakening around this, like, hey, no, this isn't just an archive this that that we never look at again. How can we use this as a tool to make train our team and improve our reports and our process going forward? So I think just getting creating products where we give them access to their content, smart, yeah, powered searching, and we, we don't step outside of that too much, right? That we give them kind of the the access to their historical information, that that can really make a difference, and we deliver on it. So I think for me, is continuing to keep purpose built as our North Star, and we introduce risk if we spread ourselves too thin and are not incorporating kind of that feedback with our customer for things that they want, and then the things that we know how our product makes a big difference in how AI kind of supports both of those things. So. That's how I'd say that risk is getting AI right for our customers, helping lead them away being lead the way for them, being their innovation partner, and not spreading ourselves too thin. https://openquire.com/ Kellys@openquire.com  

Today, my guest is Steve Austin. Steve Austin is the founder and CEO of Revitalization Unlimited, where he focuses on structuring the company's investments to maximize value for the portfolio. He has a diverse entrepreneurial background and has started companies in several different sectors. And in just a minute, we're going to speak with Steve Austin about preserving historically significant real estate. https://www.revitalizationunlimited.com/

J Darrin Gross  I'd like to ask you, Steve Austin, what is the BIGGEST RISK?   Steve Austin That's a good question, I think right now for specifically for us, there's a tremendous uncertainty around the future tax policy. There's a lot of talk about, you know, closing the IRS and putting in tariffs, and so there's a lot of speculation and and stuff swirling around right now. So I think that presents a significant risk to us, but, but just, you know, kind of getting away from, you know, the regulatory risk, you know, I think, for for anybody who's out there in business, in in particular, raising investor capital right now, the, I think the biggest risk is, is just, you know, are you able to build a repeatable, scalable process in your business, you know? So for us, that's, you know, how do we source deals? How do we underwrite deals? How do we close deals, you know, what? What are the right structures for the deals, you know, and kind of systematizing that is, is kind of my view of risk mitigation from from a business perspective, because, you know, at the end of the day, investors, you know, they have a lot of options with their money, and you know what, what you're asking them to do is to trust that you have the right process to consistently, you know, generate. Returns. And you know, my answer to that is often risk management. You know, to your point, you know you can, you can avoid a lot of risk just by being cautious in, you know, not using a lot of leverage and debt and things like that. So, you know, we while, while taxes are a component of what we do, you know, we're also trying to generate returns, you know, without a lot of risk. You know, a lot of lot of folks refer to that as risk adjusted returns, right? And you know, so when you're buying buildings debt free, it certainly gives you a much wider, you know, birth to operate in, in my opinion, https://www.revitalizationunlimited.com/  

Today, my guest is Tudor Vasiliu. Tudor is an architect turned architectural visualizer and the founder of Panopticon, an award winning high end architectural Visualization Studio serving clients globally. And in just a minute, we're going to speak with Tudor Vasiliu about virtual storytelling, how narrative driven property marketing is replacing traditional showrooms. Linkedin: https://www.linkedin.com/in/tudorvasiliu/

J Darrin Gross If you're willing, I'd like to ask you Tudor Vasiliu, what is the BIGEST RISK?   Tudor Vasiliu Oh, that's that's a hard one. Um, I mean, I can speak about so many things, but at the end of the day, the base of of of how we how we interact with people and how people interact with each other. I believe, you know, from my standpoint, is empathy, empathizing with your with your family, with your friends, with your clients, with everyone around you. I think that's a great way to navigate life and the loss of empathy is when the bad things happen. And I think, you know, we can be seeing that across the world, and nowadays it's everywhere, and we're asking ourselves, why is that happening? I don't think there's a, there's a easy answer to that, but there, you know, the the answer for me is try to keep that, keep alive that old sense of of old time, empathy that we were educated with, you know, the values that our parents instilled in in us and the education instilled in us, and even if you know the world is so much faster nowadays and so much more selfish and so on. Why not? You know, stick into those. Um, good old love and appreciation for the other. And I think this is the way we can make a better place, or make the world a better place, not losing that empathy. If we do lose it, I don't know, just slap, slap out ourselves over the head and snap out of it. Because it's not by being selfish and by being self centered that we will, you know, make the world a better place or make an impact. So just caring for for the other next to you, and with that attitude, it's just you would probably achieve a lot in life. That's how I'd see it. Darrin Linkedin: https://www.linkedin.com/in/tudorvasiliu/

Today, my guest is Mike Cossette. Mike is a world traveler and a REMAX broker, owner in Central Texas. He has 20 years as an agent investor who owns and manages multi family, short term rentals, commercial assets, a Florida Island and recently has had four kids in less than four and a half years. And in just a minute, we're going to speak with Mike Cossette about long term success with market volatility.   https://www.linkedin.com/in/mikecossette/ YouTube: askmikecoss@gmail.com

J Darrin Gross I'd like to ask you, Mike Cossette, what is the BIGGEST RISK?   Mike Cossette Well, Darrin, I appreciate all your insight, and I really appreciate that that question. And I like the three phases that you just went through, because that is going to help me restructure how I think about my own risk. I really that that was a nice little light bulb you gave me my personal risk. And I think a lot of investors might be seeing this now, and if they're not, if they're new investors, this is something that is vitally important is over leveraging. I think everyone you know says, Keep X amount of dollars, six, nine months of you know, costs, you know, capex, or what have you in the account I want. I think everyone should increase that because, as you mentioned with the global warming and fires and hurricanes and those black swan events. Everything can be going perfect, but it's what you don't and can't expect or predict that can sink the ship. And we're experiencing that now. Everything you know, even tough, markets going fantastically, you know, fine, and then boom, hurricane hit, no money coming in six months before insurance can even lift a finger, and that can sink a lot of ships, and it almost sunk ours so, and we're still waiting, waiting to see if it will. So I think that is the biggest thing is for so long, we've been going fast, borrowing 232, and a half, three and a half percent interest. Then, why wouldn't you buy this? Cash Flows? Everything makes sense, and capital is available. Government's printing money. Everyone's got their hand out. People are moving fast and not stopping, and assessing their portfolios the way they should be, and really setting aside the emergency funds that are necessary. I think that is, in my opinion, the biggest risk and my biggest risk.  

Today, my guest is Matt Buchalski. Matt is a serial business builder, sales leader and multi family investor with nearly two decades of experience, and in just a minute, we're going to speak with Matt Buchalski about strategies for establishing quality returns and passive income in commercial real estate investing.    https://www.linkedin.com/in/matthewbuchalski/ matt@ownwell.com  

J Darrin Gross I'd like to ask you. Matt Buchalski, what is the BIGGEST RISK?   Matt Buchalski I think the biggest risk as an owner, slash general partner, is reputation risk. And I think reputation risk comes in two different forms. Right? Number one is your own personal reputation, right? How do you handle yourself during the hard times? How do you screen opportunities as they come into your inbox and really gage which ones are worthy of you putting your name reputation on, and frankly, capital into, because I put capital into every deal that we do, right? So I think there's reputation risk from that perspective, the other perspective, though, and this is kind of the little further downstream, but the reputation risk of. How you run your assets right? What happens to you and your community ecosystem by putting the wrong resident profile into your units? What happens if you're not screening your residents properly and they throw parties or they you know, they have bad actors that you know frequent your communities, other people are going to want to move out, and other people will move out, and they won't tell you necessarily why in most cases, right? That's your reputation on the line. That's your your sign at the edge of that asset that carries, you know, kind of your branding on it, and so you need to make sure that everything that you do on running that asset helps build and enhance the reputation of that asset. Otherwise, it takes a long time to undo that. https://www.linkedin.com/in/matthewbuchalski/ matt@ownwell.com  

Anne-Michelle Wand, an international real estate expert, discussed her journey to financial freedom and her investments in Panama. She highlighted the ease of property ownership for foreigners in Panama, the use of attorneys for contracts, and the stability of the US dollar. Anne-Michelle detailed her strategy of raising all capital upfront to minimize risk, avoiding mortgages, and ensuring solid land investments. She plans to build a multi-family project targeting the over-55 and digital nomad markets, raising $6-7 million. She emphasized the importance of minimizing risk through solid financial planning and the potential for passive income through real estate investments.   https://www.passive-profit-partners.com/ https://www.linkedin.com/in/cr8grtsuccess/?originalSubdomain=pa  

J. Darrin Gross If you're willing, I'd like to ask you, Anne-Michelle Wand, what is the BIGGEST RISK?   Anne-Michelle Wand Well, I think I touched on it before. I think the one of the biggest risks is over leveraging your product and the so that's how I've created this whole business model to minimize risk by having all the money paid up front and owning the building outright and then having the ability to refinance it when conditions are favorable, in order to pull out investors money that that's that's that allows you to to withstand any downturns, delays or economic factors that may be happening in the outside world. And still, you're still going to have cash flow the way I've designed the project. It's going to break even at 23% so anything above that should be cash flow back to the investors.  You know, it'll start out small, it'll grow and people will also have the ability there'll be a section in there where people can actually come and enjoy a vacation or or for the over 55 live there full time. So your amount of return will vary depending on how much you use your. Property. You know, that's, that's how I see. You know, minimizing risk is putting the solidarity there of the land. Land, you know, generally doesn't go down in value. And if it does, it goes back up on a on a scale. You know, may go up and down a little, but if you crack it over 20 years, goes up. They're not making any more of it. And especially land on a Caribbean island that's a very desirable land, whether it's right on the ocean or not. Another wonderful factor about Panama is we don't have hurricanes, so people can get out of the hurricanes. We don't have earthquakes. It's it's safe there for your land too. You just need to make sure it's elevated and not right on at sea level for the rising seas that is happening. https://www.passive-profit-partners.com/ https://www.linkedin.com/in/cr8grtsuccess/?originalSubdomain=pa  

Today, my guest is Carl Moose. Carl is a seasoned executive with nearly 30 years of experience spanning business development, mergers and acquisitions, real estate and energy solutions.  And in just a minute, we're going to speak with Carl Moose about how renewable energy can turn your property into a high performing asset.   Ph: 630-785-0031 Web: greenlightenergy.solar E: carl@greenlightenergy.solar

J Darrin Gross  If you're willing, I'd like to ask you, Carl Moose, what is the BIGGEST RISK?   Carl Moose Yeah, so as a property owner. And when I'm dealing with property owners, anytime you make a change to the building, or you install something on the building, like solar, you know, there's, there's some risk there. I mean, you know, obviously their first concern is, you know, are you going to put poke holes in my roof, and is my roof going to leak? So that's one of, one of the considerations. The other is, you know, weather, you know, they ask, well, you know, are these going to blow off if we get a, you know, big weather storm, or is hail going to damage these? And you know, the answer is, possibly, you know, if the storm is big enough, and if the hail is big enough, you have that, you have that risk. And then, of course, you know, they they ask about, are they going to work, right? And so there's enough data out there with regard to whether the solar panels are going to work, and we know the sun's going to be there, right? So that's not, that's not an issue.  The question then becomes, you know, are these things actually going to work? And there's enough data out there that to support, you know, our response to that, which, yeah, they're going to the way that we install them, the way that they're designed, they they will perform. So those are the questions that we get from business owners, you know, with regard to, you know, if I, if I make this change and go ahead and put solar panels up there, those are typically their concerns.   Ph: 630-785-0031 Web: greenlightenergy.solar E: carl@greenlightenergy.solar

Today, my guest is Matt Spagnolo. Matt is a former residential and commercial agent turned capital raiser now in capital markets with Colony Hills Capital as fund co manager, and in just a minute, we're going to speak with Matt Spanolo about capital markets and alternative investments.   https://www.colonyhillscapital.com/ https://www.linkedin.com/in/matt-spagnolo/  

 J Darrin Gross: I'd like to ask you, Matt Spagnalo, what is the BIGGEST RISK? Matt Spagnolo: Yeah, I would say the biggest risk in multi family has to be interest rates, right? Interest rates are something in I like to say the biggest risks, at least with what we do at colony, is something that we can't control, right? We believe in our team and the systems and processes that we've put in place, what we can control, we can live with with that, right? But what's tough is the items that we can't control, like you said, insurance and interest rates. So we've made a shift to help on the insurance side of things. Right? If the properties we had invested in Texas and in Florida in the southeast that maybe are seeing a higher jump in insurance, we are going to these properties in the northeast, like I mentioned, we're making that shift geographically. The insurance number itself might be high in the northeast, but the only thing that we care about as an operator is what is the year over year change? As long as that's consistent and relatively predictable, that's what's important to us, right? Because we can underwrite to that. But if you're in some of these states where it's very unpredictable, you could see a huge increase one year, and then it flat lines for a year or two, and then there's another massive increase. That volatility is something that that worries us. So we are going to markets where the year over year change, regardless of how expensive it is, is consistent and is relatively predictable, and has been for 15 to 20 years. So that's something that we're doing to try to eliminate that insurance risk, however, interest rates, one, nobody knows where they're going. And two, if they did, they probably wouldn't, wouldn't be working. They'd be they'd be on wall street somewhere. But right, it's up to the Fed to kind of control the Fed funds rate, and then that will also affect some of the other rates that we see in multifamily right? And even with Fed funds rate coming down, we've seen that the 10 year has has gone even higher recently. So that's that's something that we can't control. What we can do is make sure that we're buying our deals right at a good cost basis, but the sale right our cap rates, what we're buying and what we're selling at, really just depends on what the interest rate is. I mentioned earlier. We want to buy with that positive leverage. If the buyer on the back end of a deal that we are selling is using the same strategy, their purchase price is going to move not depending on the income of the property, but on what the interest rate is, right, if they have to get a new loan. So that's that's such a risk, and it's a very big one. But if we think that interest rates are going to find some sort of normalcy, or flat out, or flat line here, between that four to 6% range, I think that's something that we would, we would love to see, is, is some stability, right? Regardless of what the number is, just again the year over year change being consistent. So to answer your question, I'd have to pick interest rate risk.  

Today, my guest is Katie Kim. Katie Kim is a visionary real estate developer and educator specializing in transforming overlooked urban spaces into thriving community enhancing developments, and in just a minute, we're going to speak with Katie about how to scale your real estate portfolio. https://www.katiekim.com/ https://www.linkedin.com/company/thekatiekim/ https://www.instagram.com/thekatiekim/ https://www.youtube.com/@TheKatieKim