Podcast appearances and mentions of eddie lorin

Managing Director Joshua Boren speaks with Alliant Strategic Development Co-Founder & CEO, Eddie Lorin, about his personal  journey, including how an orphaned 17 year old became the co-founder of a multifamily real estate investment firm, as well as his passionate mission to increase affordable and workforce housing across the country.

Eddie Lorin has twenty years of experience in real estate investing and developing. With a unique approach to investing that focuses more on the tenant rather than the cash flow of the deal, Eddie has successfully been able to invest in real estate and purchase over 15,000 units in more than seventy real estate transactions.  In this episode of Multifamily Real Estate Investments with Don and Eden, Don and Eddie are going to discuss opportunity zones and a different approach of multifamily investing called impact investing. This type of investing is putting the focus on the tenant instead of the profit and the profit usually follows as the tenants tend to stay in the community. Therefore, there are fewer turnovers which are the biggest single expense we could have. Eddie will also discuss shelter and affordable housing development.   Highlights:  Eddie’s Beginnings in Real Estate  Impact Investing  Opportunity Zones Putting the Focus on the Tenant Current Projects and Future Outlook   How to Connect with Eddie W: StrategicRealtyHoldings.com E:  elorin@strategicrh.com -------------------------------------------------------------------- TRANSCRIPTION Hey guys. This is Eden and in today's episode, Don will interview Eddie Lorin. Eddie has 20 years of experience in real estate investing and developing - Don and Eddie are going to discuss opportunity zones and a different approach of multifamily investing called impact investing. This type of investing is putting the focus on the tenant instead of the profit and the profit usually follows as the tenant tends to stay in the community. Therefore, they are fewer turnovers which are the biggest single expense we could have. Eddie will also speak shelter and affordable housing development so I hope you guys enjoy the show.  Welcome to the Real Estate Investing Podcast with Don and Eden where we cover all aspects of real estate investing with special attention to multi-family apartment buildings and off-market strategies.  Hey Eddie, how are you doing? Welcome to the show.  Pleasure. Nice to be here.  Thank you for participating. So how about you start by telling our viewers and listeners a little bit about yourself and who you are what you've done in your career in real estate.  Well, I've been in the apartment business for over 25 years and I've done over 40,000 units of working for others and working for myself. I specialize in the lower end more low-income housing development and purchasing and rehabbing existing properties and then doing it for a long time. We try to give people a clean safe affordable place to live. Treat them with respect and dignity they stay, they pay and they refer their friends. That's it. Very simple business. We do the right thing all the time over and over again consistently.  Yes, I know that you are an impact investor and also the name of your company. So tell us more about where you're based, where you're doing business, where are you’ve acquired properties and developing properties?  We are based in Southern California in the San Fernando Valley. We're building four projects here locally. And we also have a funding opportunity zones that we're funding others across the nation to build their opportunity zone workforce housing. We define workforce housing as people making between 80 and 120 percent of area median income. That's what they can afford to pay. And we only have rents that are tagged to that structure.  I see. So, I know opportunity zones are a pretty new subject. And a lot of people are very curious about it. I know it offers a lot of tax benefits. So, what could you tell us about Opportunity Zones? Briefly provide your input on that.  There are three basic benefits. One is the deferral of taxes. It's basically 1031 on steroids. So, if you have gains in Apple stock or you sell a business it's not just a 1031 exchange anymore; you can sell the stock, sell interests in LLCs, you can exchange you any capital gain into opportunity zone investments. What's the benefit? Let's say you sell and you have one main dollar gain. That's let's say in round numbers federally it's 20 percent or 200 grand. That two hundred grand can be deferred until 2026. As you put it into an opportunity zone fund that purchases into one of eighty-seven hundred census tracts across the United States that are low-income census tracts designated by each governor across the country. So the first benefit again is a deferral of taxes. You don't pay that 200 grand until 2026.  The second benefit is that two hundred grand is going to be less if you purchase into an opportunity zone before now. So within seven years 2026, you get a 15 percent discount off of that tax base. So, in essence, you are paying one hundred seven thousand dollars in taxes so you got a free loan from the government for one hundred seventy thousand with that discount of 30 grand. So that's the number two but the really most important thing is if you hold that new investment into an opportunity zone that's invested in these eighty-seven hundred census tracts across the country hold it for 10 years and let's say that million dollars become worth four million dollars that three million dollar gain is tax free.  Wow. That's amazing and very interesting. So how is that changing the apartment building business? And in general, the investing business in the United States as far as you see it.  Well it hasn't yet because this Treasury has been very slow to come out with final regulations is just now getting going it's almost two years since the top tax act. Jobs Act of 2017 passed. So, the frustration for all of us who are on these panels and trying to get things going. We had a second set of regulations come out now we're waiting for a third set. So that's a challenge to get things moving. And the problem is that it was written by two senators that it was a bipartisan law which is a good thing, but it wasn't very heavy on details. And as a result, the accountants and lawyers and they're all wondering. How do we fill in the gaps of these uncertainties and so, we're almost there?  But it has not changed things much. To answer your question yes. But it will.  Ok. That's great. So, tell us more about what you're doing in the apartment building business, so I know you're focusing on C properties and B properties you're investing more in the quality of life of the tenants. So, tell us more about that business model and how is it different from other real estate investors.  Well, it's all about who's paying your bills. The tenant pays your bills. And if you don't have a happy tenant, they're not going to stay for their friends. So that's the basic tenet of what we do. We try to give everyone value and value can come and giving people amenities, even though they're in a little less expensive environment. And that's very simple we give her. It's like a fake Gucci bag. He likes to have a feeling of that Gucci bag. But it may not be real, but it still makes him feel good. And so we give people well-appointed interiors, beautiful paint jobs, the resort-style pools, State of the art fitness centers, social areas to thrive in. And we just give people that nice sense of community because you can smell it when you walk into the leasing office that just it feels good feels like home. It's very simple, but very few people care about the resident. And that's the problem. Yes, people care about maximizing cash flow.  Yes, I agree because I've been interviewing a lot of investors and it's typically about money not about the resident. So how about you tell us about a deal that was structured this way. So, what are the changes that you've made it improve the quality of life for the tenant? So, give us an example that details so you can understand more about what it is exactly what you're trying.  We bought a high rise in Maryland called Waterford tower. We got sniped by the county because they wanted to buy it out from under us and we said hey, wait why would you want to buy it out from under us. This thing's neglected it needs TLC. Why don't we work together so we got a loan structured by the county in exchange for putting affordability which we would have put on anyway based on 70 and 80 percent of area median income residents?  So, we've spent three million dollars in the process of renovating all the interiors, all the common areas. And this place was neglected and it was very sad how this major institution allowed this property to get in such disarray. So, we closed on it, we’re cleaning it up. Residents are happy were 96 percent leased and we're renting to people that only make a certain level of income. Not all of it.  It's a mixed-income property so half the property is fully market rate and the other is based on income restrictions so people can live together and work together as long as there's a common sense of community. And that said, its very simple, it's not rocket science.  So how many units is that property in Maryland? One hundred and forty-five. I see. And when you're saying that there are income restrictions what are the income restrictions 70 percent and 80 percent of area median income, let's say area median income is one hundred thousand dollars. Seventy percent and is seventy thousand dollars. Rents are going to be capped at 30 percent of that 70 percent because no one should pay more than 30 percent for rent in a year. So, 30 percent times – I have a calculator in front of me.  Quickly, but I'm 70 that's the twenty-one thousand. Okay. So that's the max we can charge for rent.  I see. And so when you're improving the property how do you make sure you're not over improving the property as you're investing in C class buildings and you typically people always say you don't want to over-improve the property because you might be losing money.  Well, you can do it right the first time we could limp along and pay later the bottom line is you have to buy it right. And if you buy a right and you have the right comps and you give people the value they'll give you the rent and it's there's no right answer It depends on the deal and you've got to be smart about how you buy if you overpay. That's the real problem.  Yeah. So, what are your plans for the future as far as the apartment building investing because I know right now the market is a little bit? It's hot. So, it's very difficult to come across a good deal that you could get for a good price. And so how do you prevent yourself from overpaying in today's market?  We're building new. That's one of my focuses. There's such a need for product and these opportunity zones are one of the greatest things that have happened to our generation. And when they start getting moving I think that's the greatest opportunity. No pun intended to build new if you're buying a five cap or four cap, you can build to a five and a half or six and you have a brand new product. And as long as it works between 80 and 120 percent of area median income we're not building luxury. We're building value-driven apartments and that's where I think the opportunities are because we have a shortage of seven million units today and it's only getting worse. The problem with housing. And we've got to figure out creative ways to buy land, to restructure, to build decent safe clean affordable housing. Because if you're buying an old product. I added that that low of a return and it's tight. There's not much juice.  Yes, I agree and I also think it's safer when you're focusing on that kind of income with your residents it's safer because you're more immune to a recession because people would always need these kinds of apartments affordable housing. So that's great. And I think you're doing a terrific job. So how could other people connect with you in case they want to know more about your projects.  Just reach out on my website which is StrategicRealtyHoldings.com That's the best way to find us. My email is elorin@strategicrh.com. Wonderful. So, I want to thank you for participating in the show today. Really. Gave us some beautiful insights. Thank you very much. Good to talk to you.  Thanks for listening to the real estate investing podcast with Don and Eden. Stay tuned for more episodes. Till next time. 

Edward “Eddie” Lorin founded Strategic Realty Holdings, LLC as a culmination of his years of experience in investment real estate and as an offshoot of Strategic Realty Capital (SRC), which he also co-founded. Since 2008, SRC has purchased over 15,000 units in more than 70 transactions valued at over $1 Billion, and has built a strong performing portfolio. All of SRC’s apartment assets were purchased opportunistically and successfully re-positioned into thriving communities. He is an affordable housing preservationist as co-founder of his venture Alliant Strategic to preserve and breathe new life into year 15 LIHTC (Low Income Housing Tax Credit) properties. He is also the founder of Impact Housing REIT, a Reg A+ Crowdfunded Platform to buy and transform neglected apartment buildings into thriving communities that are affordable. Title: Counting Pennies to Jack-in-the-Box to $1B in Transaction with Eddie Lorin  James:  Hi, audience, welcome to Achieve Wealth Podcast, the podcast where we focused on value-add commercial real estate investment. Today we have a really awesome guest. His name is Eddie Lorin. Eddie founded Strategic Realty Holdings, it's also an offshoot from Strategic Realty Capital, which was also cofounded by him. And since 2008, SRC, that's the acronym, has purchased over 15,000 units, over 70 transactions valued over 1 billion and they've built a very strong performing portfolio. Hey, Eddie, why don't you introduce yourself and tell our audience about things that I forgot to mention that I missed out.    Eddie: Hello audience. We have a very basic formula. We give people a clean, safe, affordable place to live. Treat them with respect and dignity, they stay, they pay, they refer their friends. That's it, very simple. But it's quite complicated as you know. There's a lot that goes into sourcing deals, diligencing deals, financing them, closing them, executing a business plan, getting them stabilized, refinancing and it's a whole big cycle that you'll do in your sleep if you've done enough of them. But it's not easy and that's not for the faint of heart as we know.    James: Yeah. So what do you think about people coming in new into the business and want to do this business? I mean, what advice do you have for them?   Eddie: You better have some really, really good capital behind you. Today, it's so hard, it's so competitive to get deals closed without the money raised. It's very difficult. It used to be you'd tie a deal up and any good deal would attract money, but it's not always the case anymore. That's the frustration. You gotta really be careful, you could get caught leaving deposits because you don't get the money in time. So number one is you gotta have a big pile of capital and capital that you can make money with. Otherwise, I wouldn't do it anymore. It's really a different market today.    James: So that's completely different from my understanding. I thought now we are at the market peak, capital is very easy to find if you find a good deal. Is that wrong?     Eddie: No, absolutely incorrect. What is happening is that a lot of this money that's supposedly on the sidelines raised money at 20 IRRs and they need to make a net of 15 to 17 so they say there's a lot of capital there, but they can't invest it in deals unless they can make money, which you don't blame them. So unless you raise money now in the new normal like we're doing a new fund and our pref is going to be 6% and we're going to have a promote over six, now you can make some money, but if your pref is 10, forget it. So these people out there with the equity that's sitting on the sidelines, they're still looking for returns that don't exist. So yes, there's a lot of money on the sidelines, but try to get him to go in unless there's blood on the streets, which there ain't no more blood left.    James: So are you saying that the investors who used to get like 18 20% IRR actually is missing the whole point? I mean there's no more deals like that anymore and you are going much lower returns.  Eddie: Yeah, you have to. And finding that capital, that's patient appreciative capital at a lower cost is the hard part.    James: Okay. So what do you advise for the people who are still waiting for that high investment return?    Eddie: Go find cheap capital.    James: How are you finding cheap capital?    Eddie: I do it every day and we talk to probably five, 10 people a day. We have CBREs or brokerage firm going out and talking to investors. We're just banging the doors every day. It's really hard; even for someone established like me.    James: So do you syndicate your deals? I mean from private investors or do you use private equity?    Eddie: Depends. I use institutional equity, I use private equity firms and we also syndicate individual deals, it just depends. Every deal has its own DNA and every deal has its own character and you have to decide per deal what you're going to do and what your business plan because it will affect how long you sell it or hold it, whether you're going to sell or refinance. The whole gamut needs to be taken into account and it's all based on the cost of capital and the investor temperament.    James: So why don't you take an approach of not doing deals right now since a lot of people expect a lot more returns right now?    Eddie: Well, like everyone, I have an engine to keep going and there's never a good time to do a bad deal or a bad time to do a good deal. Doesn't mean there are no opportunities, It's just the returns are lower. Doesn't mean they're bad deals. With interest rates, the 10-year treasury is still at two and a half, what should you expect as an investor? You shouldn't expect more current return than three or 400 bips with upside. So that means 6, 7%. But when people are looking for more, that means they're in the middle so you need to go around the middlemen and go straight to the investors and that's what is most important. And those investors have to be realistic and that's the challenge.    James: So when you're talking about middle man, you're talking about people who raise money from investors and come to you because they are taking a cut?    Eddie:  That's right.    James: Got it. So you're talking about the equity raises. Yeah. For me, we raise money directly from our investors.    Eddie: That's great.    James: We usually don't have a problem with the middle man taking a cut. But there are a lot of people who are doing equity raises, function nowadays, right?  Eddie: If they raise their money and it's too expensive so they can't do deals today and their money's going to go back in a year or two. And then these investors are going to say, oh, well, I better get real, meaning the institutional investors.    James: Got it. Got it. So let's go back to your business model, right? So you have done almost a billion dollars in transactions starting in 2008. Why was it starting in 2008? Is it because that was the bottom you identified and you started it?    Eddie: Well, I worked for another company that was part of the great recession and we all parted ways and scrambled and started over, that's why.    James: Okay, okay. But how are you adapting enough to start in 2008 because that was the time where everything was low?    Eddie: Well, 2008 actually was still slipping. It was a falling knife. 2009 and 10 were really the bottom and we bought and flipped houses in 2008 and 9 because the deals weren't making sense and the equity wasn't there. But eventually, our first deal in Vegas in 2010, we paid 22 a door. 28 a door for a property in San Antonio in your backyard.    James: Wow! Yeah. I remember San Antonio when I was starting to buy it was like 35 or 40 and it started growing quickly to 50 55 within six months. It's crazy.    Eddie:  Yes. That's right.  James: That's interesting. So tell me about your business model because I mean every time I talked to you, this second, I'm talking to you, you are very, very passionate about giving people a good, safe housing and that's it, right? Which is very, very important. And it's hard to find people who are passionate about that. Can you tell me about your passion about why do you believe that's an important objective for your business?    Eddie: Well, I grew up very poor and I know what it's like to not be able to rub two nickels together to figure it out. It was a treat to count out $2 and 12 cents to go to Jack in the box. I remember those days and the humiliation associated with it. And everybody deserves a good place to live and to be with respect and dignity. So I've always taken pride in trying to take blight and make light. I think there's value in creating thriving communities out of really dilapidated stuff. And to me, that's my challenge and that's how I create value. Any schmuck can buy a building and ride the market up. The real talent is buying something and seeing the value and the vision and executing a plan and taking that property from blight to light.    James: Got it. Got it. So how do you find that kind of deals nowadays? I mean, a lot of deals has been rehabbed multiple times.     Eddie: But some of them are still owned for 30 40 years. I'm looking at a deal in New Orleans, 37 years it's been owned by the same family. As I said, there's never a good time to do a bad deal or a bad time to do a good deal. You've got a nation full of a huge number of apartment complexes and there's a ton of older owners that have bled to death in terms of cash flow and there's 2- $300 in rent bumps potentially there and still remaining affordable. But getting that pop is only a result of them starving the property of capital. So when they're ready to sell, then you can go in and refresh, it's pretty simple. It's just you got to look at it a lot more deals to find that works. But again, you must not be looking for 20 IRRs anymore, it doesn't exist.    James: So you've been in that kind of deals where people own it for like 40 years, I mean, the sellers and the brokers are going to bump up the price. I mean even though there's a value-add for the buyer, but I think the seller still have that because the market is so good.     Eddie: Did you go mute? There you are.     James: Okay. Sorry about that. So what I'm saying is even though the property has been owned for a long time, I think the brokers and the seller do expect a high price I guess, right?    Eddie: Yes, but you're solving now to a six and a half or seven exit on your cap rate on cost versus we used to underwrite to an eight or a nine because there's so much demand, there's a certain amount of just appreciation that's going to happen with the shortage of housing that's affordable in this country. And the workforce housing is a BNC product is still going to be, you know, you're talking 30 40% of replacement cost and growing because replacement costs are so challenging. So the value will eventually go up as well.    James: So what's your strategy buying deals at this peak of a market? I mean what about loan strategy, investor expectation? I think you talked a bit more about the [13:32inaudible] investor, but what about the loan strategy or Rehab Strategy? You know, how long you're going to hold date, what's your strategy like? Because we believe we are at the peak of the market.    Eddie: I don't think we're at the peak of the market. I think we're at a plateau. I don't see us going back down, there's too much demand for housing period. Not for the new stuff, but for our stuff, the NC product, will continue to have a demand, especially a good quality product that's affordable because more and more people are coming off the couch. I remember that when they all doubled up and the kids were living at home, they're all starting to start their lives and it's going to continue and a lot of the older people are selling their houses and they all want to rent as well. They don't want the responsibility, they don't want to take care of anything. So you see the demand is still tremendous and I don't see any sign of a liquidity problem, which is what causes, well, 9/11 cause the recession in 2001 people got spooked after the DOTCOM bust. Seems like PE ratios are still reasonable in terms of the global markets. And of course, the great recession was about the housing over leveraged. Well, I don't see overleverage, I still think there are condo buildings that still won't sell until 50% are sold so you can't even get a loan on condo development. So you don't have a de-glut of condos out there and houses are all gobbled up by the Blackstones of the world and they're on a rental scenario and that's a different person who rents a house versus an apartment. I just don't see, I just think it we're plateauing, we're not at a peak. As long as there's demand, this world is about supply and demand, period, no matter what it is. Whether they're tulips or apartments, and as long as there's tremendous demand, especially at the low end, we'll be fine. So you got to find the niche,    James: Find a niche. Yeah. Yeah. So let's go to the market. So you are in California and you are buying nationwide, is that right?    Eddie: Yeah, we're buying in the beltway. I love the Maryland area with Amazon coming by and we own in Florida. I love Texas, Dallas mainly. Las Vegas, Colorado. And I'm finding stuff that's distressed still. Now, it's not economic distress, it's just distressed. It's not keeping up with the market and the capital, people bleed their properties. So there's always meat on the bone if you can find it. I've been doing this a long time.    James: I can see that now. Absolutely. There are so many things to learn from you. How's your team being set up right now? I'm sure you're not one person doing this. Can you describe how your team is set up in terms of asset management, acquisition analyst, transaction and all that?    Eddie: Yeah. We have probably four in the acquisition team to analysts and two guys going out. I have two construction managers to execute the business plan. We use outside contractors to do our work. It still takes work to ride herd on them and then, we have two asset managers and accounting, but based on that, you know what, 10 or 12 something like that. You know, it fluctuates. Some people work from home and they're busy and they are traveling and so you don't always think of them and they're not in the office, but they're out working. I don't care as long as you do your job,  James: How do you split your time managing them? Do you have someone who's assisting you managing the whole operation or do you manage your whole operation yourself?    Eddie: Well, my head of asset management primarily deals with all the operations and I only talk to him once a day and make decisions. Like he just popped in and I said, I want a podcast so I'll talk to him after. But I spend more of my time on acquisitions, analysis, and investors, you know, dealing with them and the lenders.    James: Okay. Yeah. Because like right now, I think I'm at 1300 units and I'm trying to see how do I grow to your level. And I'm trying to figure out how do people with 15,000 units manage their whole team?    Eddie:  I'm down to 7,000 now.    James: That's still a huge amount. But you have an acquisition head, I mean, asset management head, which has acquisition and then you have accountants. Okay, got it.     Eddie: And construction is really important.     James: Got It, got it. Does construction mean that you're talking about remodeling and Rehab and all that?    Eddie: Yeah. Rehab, getting the bids together, putting the business plan, dealing with the draws from the lenders, all that stuff.    James: That's a lot of work, especially draws from the lenders. Have you ever thought about other asset class other than multifamily or you just focused on multifamily?    Eddie: I don't feel, especially now as we talked about in the beginning, the credibility to raise money today for anything other than what you do. You get pigeonholed and I'm fine with that. They don't want to take a flyer. Wait, I thought you'd do apartments so you want to do a retail deal? I didn't even try. It's hard enough to raise money staying in your lane. Switching lanes, I just think as suicide, my personal opinion.    James: Yeah. I mean everybody would be doubting you, right? What does this guy know about something else, especially after you built so many skills and credibility in one asset class? So got it. Let's talk about value-add because I'm sure you are an expert in value-add, right? Because you have been doing a lot of units and all have value-add. So what's the most important value that you see whenever you take a project, what's the most, not most of but most valuable value-add?    Eddie: Well, it's really just whatever the marketing walk, as we call it. What do they see as they go from the leasing office, the amenities there? Is it a nice clubhouse and then you want them to see outdoor fitness, social areas with barbecues, outdoor kitchens, state of the art fitness center even though they'll never use it, they want to see it. They dream of using, honestly, they don't. And then just general dog parks and then you go inside the units and as long as they're clean and safe and feel like they're well done, that's it. And then plenty of units that don't even have that still. The old strappy pool furniture and ugly coping and shitty rod iron that's rusting. That kind of stuff is what turns people off.    James: So how do you standardize this process in terms of implementation across your property?    Eddie: Well, I rely on my head of construction who basically knows what we do. And you have a certain bucket for if you're buying a high rise, it's a different feel. And we bought a high rise in Vegas and it's like Vegas. We have a really cool downstairs, we took an Italian restaurant, a 3000 square feet and transformed it into a club room and Yoga Studio, fitness center, all that. I mean, it's really high end. That's one thing. Or it's more of a lower income area. I mean, but those are the average rents are 1400 bucks. If your average rents are 800 bucks, you're going to be doing lower end stuff, but you still want to give them the fake Gucci bag, so to speak.    James: Got it, got it, got it. So one thing I read in your website is you would like to internalize older mentality, operations management and I think that's important, but I find it just so hard to implement that to our property management, even though we own our own property management company. And how do you do it in your operation?    Eddie: Well, I do not do property management because I'm all over the country and I don't want to make a decision on an asset based on the fact that I have employees there. So, I have different crews. I'm the client, I get a lot of respect as a result of that. We have good relationships and I just try to instill that mentality with all my people and it just works, I don't know. There's art and science and business. That's the art, I can't describe it. The science you can underwrite, you can do all these things, but how does the property smell when you walk in, is it friendly? That's the art of it. Do people feel comfortable and appreciated? Again, that's the art of the business that you can't make it science, it's art and you need both. You asked the question but I can't answer it.    James: Yeah. Yeah. Because it's always hard whenever you have third-party management managing your property.    Eddie: No it isn't it.     James: It's not? Okay.     Eddie: Because you fire them if don't do what you need them to do. And they wouldn't be in the business if they didn't want to serve people. And you just got to inspire in them and give them the tools so they feel comfortable that you're giving everything they need to do to do their job, no matter if they work for you or not. And I feel like it's better than they don't work for me because I always have the threat. Oh, Eddie's coming. They're not like, Oh, I [23:40inaudible] because he's got employee issues.    James: Okay. So that's interesting. And you also mentioned something about high touch investor relation culture. So how do you do that with your investor base?  Eddie:  Oh, it's just about communication and contact. Anybody calls me, I answer the phone and call them back within a day. That's it. It's a really simple formula. If they don't need you, they don't want you to bother them unless you got another deal. But if they got a problem, they got a K1 issue if they call you, you better call him back and say, hey, we screwed up. We're doing this. Our accountants behind, there are new tax laws, whatever it is, communication is the only way. And not to dodge or duck someone like a wuss, you screw up, you face the facts and say, hey, I screwed up, but we're doing the best we can. I promise you that's it. It's really basic.     James: Do you delegate your investigation or you are direct to the investment?    Eddie: Absolutely not.     James: Okay.     Eddie: I mean the reporting I don't do, accounting does, but if someone has a problem, it's me. We're trying to do a deal, it's me.    James: Yes. Yes. I think that's important too. So coming back to the low-income housing tax credit, I think you own like 15 of those or you have owned it in the past. How does the whole low-income housing tax credit business work?    Eddie: That's a whole podcast.    James: At a high level. At a very high level.  Eddie: The government gives incentives to banks and insurance companies to invest in affordable housing. That's how affordable housing gets built. Okay? In essence, free money. So it's free equity, but they're getting a tax loss as a result. So let's say it costs $100,000 a unit to build something, for simple math. It's more now, but whatever. And you get a loan, bonds for $50,000 and there are tax credits that size up to about 35,000 and that leaves $15,000 left to build it. So that $15,000 usually, comes up with from the government, they give you subsidy loans and all kinds of low-interest loans. It's a very complicated business, but that $35,000 of equity disappears after 10 15 years. So now your basis in the property is only the $15 and 50 on the loan, which is amortized. So now you're able to offer lower rents because you're not paying a return. You're paying a tax loss on that 35 bucks if that makes sense. And we buy those properties. My affiliate partner, they supply the tax credits, My business with them, I've been a joint venture, we buy those deals after they're done, after year 15 and reinvigorate them and bring them up to maximum allowable rents because the rents do move up based on area median income. And again, it's very complicated but those bases and that's a business that's a unique niche and we're good at it.    James: Okay, got it. Got it. So it looks like 10 to 15 years, you have some kind of assistance from the government and after that, you can bring it up to your market value and that    Eddie: No, you bring it up to max allowable rents as decided. It extends beyond. The tax credits go away, but the rent restrictions go from 30 to 55 years and you have to live within those means. And that's how they remain affordable.   James: Got it, go it.  You also have a REIT, I'm my right?    Eddie: No.    James: Because I say something on REIT. So is that right?    Eddie: I tried to raise a reggae plus I broke my pic, lost a ton of money and you just got to move on. But I thought I thought the world or the country was ready for the ability to invest as low as a thousand dollars into housing, but I didn't raise enough and I had to raise enough for the SCC. So I scrapped.    James: Yeah, I didn't know RAGA, you have a minimum to raise and you have to raise it to that amount.    Eddie: Yeah. You're spending $800,00, you got to have some minimum to make it work. Otherwise, you'll never be sustainable. That's what happened. I lost lots of money. Your first loss is your best loss. Maybe in five years, it'll change, but...    James: interesting. Interesting. So can you give us some advice on what is your secret sauce to success? I mean, like one to three things, why do you think you are successful so that people can learn from it?    Eddie: Creativity, tenacity and grit. I'm sorry to be so vague, but it's really 30 years of experience. That's the art of the business. Anybody can learn the science, the art comes from your gut and breaking your pick and getting your teeth knocked down. There's no other way to describe it. It's a very tough business. It's a great business, but it's a very tough business. That's why people burn out. There are so many things to juggle and so much risk you take that investors have no idea what you go through. That's the funny thing. And they all want their returns and they want this when you take the risk, and it's a funny formula, but it works. You got to do it but there's no secret sauce other than grit.    James: Have you ever thought about, I'm just going to give up all of these and go passive, invest in someone else?    Eddie:  No, because I don't think they can do it like I can. That's why I have built up 30 years of experience. I'm getting better at what I do. Why would I jump ship now?     James: Yeah, because sometimes as you mentioned, it can be very tiring, right? I mean, sometimes we do a lot of hard work and sometimes it just feels sad that some passive investors don't see how much we do in value-add.    Eddie: They have no idea and it's a shame because they really think they know and they have no idea because it's our job to make it turnkey and easy for them. But that's a blessing and a curse. Because the blessing is they have a good investment and don't have to think about it. But if they only knew what goes into it, they would help us as advisors. And there's nothing you can do about it. It's just the way the world works.     James: Yeah. Yeah, that's true.   Eddie: The more you live, the more you know, the less you know, the more blissful you can be.    James: Especially on the mortgage side of it and the multifamily lending. If you know a lot of details about how that whole industry works, you will feel sad and say, oh my God, I should have done this. But it's all part of learning.    Eddie: Yeah, it's all saw dust. You can only move forward and learn from what your mistakes are. But people that are looking for silver bullet and perfection doesn't exist, it really doesn't.    James: Got it. Got it. Got it. So do you have any proud moment in your life that you can think about it when in your later part of your life and really be proud of it? Is there anything that you want to share?    Eddie: Well I think I'm really good at that staying with things. I had a deal in Maryland that the county exercise the right of first refusal. So I went through all this effort, due diligence and then all of a sudden, the county had the right to buy it out from under me. And I'm like, what? Are you kidding? And I pulled it out on my gut and I went to fight, I hired a lawyer and I hired some politicians to help me out. And long story short, we won the deal and we own it today. And that's what keeps me going is that I can win. I don't always win when I do, then it's glorious because I beat the system. And that's fun.    James: Yeah, that's crazy. How can a county have the first right of refusal, right?     Eddie: It's the law.    James: In some places, I guess. So what about looking at your daily habits, what do you think is some of the more important habit that you think makes you very successful in your day to day life?    Eddie: I wake up every day and be thankful for what I have. And try not to compare myself to others because everybody you look at, has their own story and you've got to remind yourself this is my story. I'm doing the best I can and accept the crap that you're dealt. And you can fight it and piss and moan or you can just deal with it. The day you accept reality and accept what's happening that's where happiness comes from, plus thankfulness. Just emotionally staying positive and realistic. That's to me. And then you've got to exercise and you got to be kind to people and do the right thing. And I'm just very straightforward. I tell people like it is, some people don't like it, I don't care, that's who I am. I'm not gonna apologize for who I am. But sometimes, you've got to be more politically correct, but then you look at our president and you say, really? Do you? How'd that happen?    James: Awesome. Awesome. So last question. So can you give three to five advice for newbies who are trying to get started in this business, in multifamily rehab and value-add?    Eddie: Number one, go to work as a property manager. Learn what it's like to collect the rent, lease an apartment, turning unit, and deal with all the day to day action. That's the most important thing. If you've never run a property, you don't understand where the revenue comes from. There are people who need to be happy and pay their bills. So that's number one, be a property manager, be a leasing assistant, be a marketing director at a property. Learn the business that way, then work for someone who actually owns property like us and then hopefully, go learn how to be a lender. Take finance courses, do everything you can in your life to understand all aspects of the business. Then nobody can snow you.     And number four would be in construction. Learn construction costs. Learn what it takes to turn a unit, what materials costs. All these things. Learn, learn, learn, learn, learn. Because most of the people that come out of school, they go straight into a big private equity company and they don't have any clue how to turn a unit or what the essence of this business is. And that's your competitive advantage because people can't take advantage of you because you know more than they do and they smell it.    James: Yeah, absolutely. Absolutely. Well, Eddie, it was nice and awesome having you on the podcast. Do you want to let the audience know how to get hold of you? If you want people to reach out to you.    Eddie: Sure. Strategicrh.com, Strategic Realty Holdings, Alliance Strategic, alliantstrategic.com. We're also there too; working on opportunities, zones and affordable housing and workforce housing. Always happy to be of service. This is what we have to do. We have to pay it forward. We all had help when our lives and we have to help others. That's my goal.     James:  That's awesome. Awesome. Very happy to have you here. And I think that's it. Audience if you guys want to join us on Facebook, you can go to Multifamily Investor's Group on Facebook and join us over there. And that's it. Thanks for being here. Thanks, Eddie.    Eddie: Thank you.   

On this show, we talked about wisdom learned over a 30 year career in Real Estate, creating communities, not just apartment complexes and how to become successful in business with Eddie Lorin, member of the Forbes Real Estate Council and Founder of Strategic Realty Holdings.  Listen to learn about investing in opportunity zones! For the Difference Making Tip, scan ahead to 18:12! You can learn more about Eddie at StrategicRealtyHoldings.com and LinkedIn. Please subscribe to the show however you’re listening, leave a review and share it with someone who appreciates good ideas. You can learn more about the show at GeorgeGrombacher.com, Twitter, LinkedIn, Instagram and Facebook or contact George at Contact@GeorgeGrombacher.com.  Check out Money Alignment Academy as well!

Over the past 30 years, Eddie Lorin has successfully purchased and transformed $3 billion worth of multifamily real estate (acting as either Principal or Advisor) amounting to more than 180 thriving communities covering approximately 40,000 apartment units throughout the United States! Led by the belief that housing that's affordable should be every person's right rather than a privilege, Eddie has made it his life mission to fix the housing affordability crisis in America, and to make safe, quality housing and community support available and affordable for all. Eddie is taking his experience and leading an intergenerational movement tired of inflated housing prices to do the same through his work with Strategic Realty Holdings, the perfect marriage of impact investing and multifamily real estate providing a “triple bottom line” –financial, environmental and social returns to its investors. Open to accredited investors and institutions, SRH delivers market rate returns to investors, while providing more affordable, better quality housing to those who need it most. During this show we discuss: The current housing crisis facing the working class How to fix the affordable housing crisis How partnerships can help solve the affordable housing crisis How to make more properties affordable About Opportunity Zones How the new tax law will let you invest and pay no taxes Getting finances to aid in the development and creation of affordable housing How to get involved and build new affordable real estate Problems with investing in distressed houses Difficulties real estate investors are bound to face by investing in affordable properties The benefits of affordable housing to the buyers Tools all real estate investors must have Factors to consider when choosing a community to invest in How to reduce the excess tax charges involved And much more…

Eddie Lorin was raised by a single mom. So when he talks about the vital necessity of affordable housing, he's speaking from experience. And he proves that affordable housing is not just an investment that does good, it also does well. Eddie Lorin of Strategic Realty Holdings is our guest on this episode of The OZExpo Podcast. Host: Jack HealdGuest: Eddie Lorin

It’s time for motivation! This week Mike chats with Heather Vickery, a life coach and the host & creator of The Brave Files podcast, discussing her line of work, her podcast and a major self-realisation, as well as much more! Although this chat was only 50 minutes, it’s full to the brim with great conversation & a menagerie of topics including what “being brave” actually is and how it’s different from being fearless, how Heather became a success coach, how we should act towards one-another, being a parent and the many ways Heather’s self-realisation of her sexuality changed her life. As well as the above, Ellen Degeneres is discussed, “white privilege” is brought up, as are the stigmas still surrounding non-hetereosexuality, the importance of presentation, how to get better results when communicating with people, how organisation is a key to being happy & free, how being different is a good thing, that admitting when you’re wrong is great for personal growth, gratitude journals and many other topics! The Brave Files - Heather’s gratitude journal (& more) Last week, Mike spoke with Eddie Lorin, the CEO/Founder of Strategic Realty Holdings LLC, a man who is devoted to changing the world with affordable housing. In their chat, Mike & Eddie discuss why Eddie got into real estate and the impact it’s having, how important a helping hand & philanthropy plays in functioning society, the importance of shelter above all else bar food & water, what impact investing actually is, what community development he is driving and more! Intro Plug by Comics In Motion Genuine Chit-Chat is also a part of the Brit Pod Scene, so be sure to check out the other members of the family as well as the BPS podcast – www.britpodscene.com Instagram – Twitter – Facebook – YouTube – Stitcher - Podbean - Spotify You can also email us at GenuineChitChat@outlook.com with any reviews, comments or suggestions.

An Opportunity Zone is a community development program established by Congress in 2017 that allows investors to take advantage of tax breaks while investing in economically-distressed neighborhoods across the US. Since this is a relatively new investment strategy, a lot of questions come into play about how this economic development tool works.   On today’s show, I’m sitting down with Eddie Lorin, the Managing Partner at Alliant Strategic Investments to talk about the ins and outs of Opportunity Zones! You’ll learn about the legislation, the future of Opportunity Zones, and why they’re so important. Don’t miss episode 446 of Investing in Real Estate!   Today’s episode of Investing in Real Estate is sponsored by Pitney Bowes! SendPro Online by Pitney Bowes is an online software that helps you save time and money no matter what you send. SendPro Online is only $14.99/mo, and listeners can get a FREE 30 day trial when you visit pb.com/clayton.   Book a call with our team: https://goo.gl/qr6iat  Show notes: http://morrisinvest.com/episode446  

This week Mike chats with Eddie Lorin the CEO/Founder of Strategic Realty Holdings LLC, a man who is devoted to changing the world with affordable housing, starting with the United States. In their chat, Mike & Eddie discuss why Eddie got into real estate and the impact it’s having, how important a helping hand & philanthropy plays in functioning society, the importance of shelter above all else bar food & water, what impact investing actually is, what community development he is driving for & the upscaling of certain areas, some of his views on how the world could change for the better, how his past pushed him to where he is today and so much more! Eddie’s Projects: http://www.strategicrh.com & http://www.alliantstrategic.com Last week was a very different chat where Mike spoke with the Magister Bill M of the Church Of Satan about the many misconceptions about the Church, it’s beliefs and it’s practices along with many other fruitful l topics including satanic rituals, Alesteir Crowley, the number 666, Bill’s own podcast The Devil’s Mischief and several other fruitful topics! Promo by We’re All Wicked Genuine Chit-Chat is now a part of the Brit Pod Scene, so be sure to check out the other members of the family as well as the BPS podcast – www.britpodscene.com Instagram – Twitter – Facebook – YouTube – Stitcher - Podbean - Spotify You can also email us at GenuineChitChat@outlook.com with any reviews, comments or suggestions.

Are there investment opportunities in real estate for value-based investors? What's the single most impactful area for values-based investing? Can investing choices help address the affordable housing crisis? Host Jordan Goodman talks with Eddie Lorin, founder of Strategic Realty Holdings, about Jack Roberts talks with Jordan Goodman in the second half of the show about what's happening in the market, Robert's predictions for Apple's future, the future of tech as an investment, the economy and more. Roberts, a trader at Simpler Trading, offers his insights into how investors can protect themselves and where he feels the market is headed. Jack Roberts talks with Jordan Goodman in the second half of the show about what's happening in the market, Robert's predictions for Apple's future, the future of tech as an investment, the economy and more. Roberts, a trader at Simpler Trading, offers his insights into how investors can protect themselves and where he feels the market is headed.

Are there investment opportunities in real estate for value-based investors? What's the single most impactful area for values-based investing? Can investing choices help address the affordable housing crisis? Host Jordan Goodman talks with Eddie Lorin, founder of Strategic Realty Holdings, about Jack Roberts talks with Jordan Goodman in the second half of the show about what's happening in the market, Robert's predictions for Apple's future, the future of tech as an investment, the economy and more. Roberts, a trader at Simpler Trading, offers his insights into how investors can protect themselves and where he feels the market is headed. Jack Roberts talks with Jordan Goodman in the second half of the show about what's happening in the market, Robert's predictions for Apple's future, the future of tech as an investment, the economy and more. Roberts, a trader at Simpler Trading, offers his insights into how investors can protect themselves and where he feels the market is headed.

Karen Rands, Strategic Advisor to investors & entrepreneurs, welcomes Eddie Lorin, Founder of Strategic Realty Holdings, to the Compassionate Capitalist Podcast to talk Opportunity Zones, the Funds that qualify, the crazy incentives for investors, and the types of projects that make most sense.  Opportunity Zones were added to the tax code by the Tax Cuts and Jobs Act on December 22, 2017 and the potential to profoundly and dramatically shift economic development from suburbs to metropolitan areas and long term real estate development.  There are theories that the turmoil in the stock market, as well as the decline in single family residential new construction, are foreshadowing the next 10 years as a result of this dramatic legislation.  Karen and Eddie will explore all of thrse aspects and provide the listening audience with a better understanding of this diamond in the rough investment incentive, and the actionable steps investors can take now to maximize their ROI for real estate and equity investments. Over the past 30 years, Eddie Lorin has successfully purchased and transformed $3 billion worth of multifamily real estate within 180 thriving communities covering approximately 40,000 apartment units throughout the U.S.  To connect with Eddie, go to http://www.alliantstrategic.com Karen Rands has worked with entrepreneurs and investors for over 15 years, creating opportunities for them to connect & engage to bring innovation to the market, create jobs, and create wealth for all those involved - Compassionate Capitalism.  She is the author of the best selling Investor book:  Inside Secrets to Angel Investing. To learn more go to http://karenrands.co 

Karen Rands, Strategic Advisor to investors & entrepreneurs, welcomes Eddie Lorin, Founder of Strategic Realty Holdings, to the Compassionate Capitalist Podcast to talk Opportunity Zones, the Funds that qualify, the crazy incentives for investors, and the types of projects that make most sense.  Opportunity Zones were added to the tax code by the Tax Cuts and Jobs Act on December 22, 2017 and the potential to profoundly and dramatically shift economic development from suburbs to metropolitan areas and long term real estate development.  There are theories that the turmoil in the stock market, as well as the decline in single family residential new construction, are foreshadowing the next 10 years as a result of this dramatic legislation.  Karen and Eddie will explore all of thrse aspects and provide the listening audience with a better understanding of this diamond in the rough investment incentive, and the actionable steps investors can take now to maximize their ROI for real estate and equity investments. Over the past 30 years, Eddie Lorin has successfully purchased and transformed $3 billion worth of multifamily real estate within 180 thriving communities covering approximately 40,000 apartment units throughout the U.S.  To connect with Eddie, go to http://www.alliantstrategic.com Karen Rands has worked with entrepreneurs and investors for over 15 years, creating opportunities for them to connect & engage to bring innovation to the market, create jobs, and create wealth for all those involved - Compassionate Capitalism.  She is the author of the best selling Investor book:  Inside Secrets to Angel Investing. To learn more go to http://karenrands.co 

Affordable housing has been a long-standing issue for many real estate investors. This episode impact investor, Eddie Lorin, joins us to discuss the strides he has made in the affordable multifamily market.

Eddie Lorin is the founder of Founder of Alliant Strategic Preservation Funds, an integrated owner/operator of affordable and workforce housing across the U.S. They sponsor a variety of residential real estate equity funds focused on economically distressed communities. If you're planning to realize a sizeable capital gain in the near future, the time is right to learn about opportunity funds so you can make an informed investment decision. During this episode, Eddie will share how your investment in Opportunity Zones have the potential to pull millions of Americans out of poverty and generate both financial and social returns for investors. Find out what exactly O Zones are and ways to put yourself in a position to understand this business in order to successfully invest yourself. Listen towards the end to hear Sam Marks and Johnny FD discuss a potential downside to O Zones.   Links: Alliantstrategic.com The Fundrise Opportunity Fund   Recommended: ArtofFX – Start with just a $10,000 account (reduced from $25,000) Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) Betterment – Get up to 1 year managed free PeerStreet – Get a 1% yield bump on your first loan   Where we are: Sam Marks - Gold Coast Australia Johnny FD - Chiang Mai, Thailand Eddie Lorin - California   Discussed: Join The Boss Longue   Time Stamps: 06:47 - An introduction: Three components to O Zones 07:42 - “Three states in the country actually got 80% got all the venture capital in the last 50 years” - Eddie Lorin 11:00 - What happens on the rental income after acquiring a low-income unit? 15:06 - The 100% basis rule and housing crisis explained 24:56 - “We should revitalize every single census tract” - Eddie Lorin 30:58 - How to invest into an opportunity zone funds 33:29 - “The ultimate impact investment is low-income housing” - Eddie Lorin 34:01 - Ways to be smarter than the average person 36:01 - Learning to manage your own property and lend money 41:38 - Viewing the interactive opportunity zone layout map 44:57 - Is the only downside to O Zones gentrification? 49:00 - The Fundrise Opportunity Fund breakdown   If you enjoyed this episode, do us a favor and share it! Also if you haven’t’ already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2019. All rights reserved. Read our disclaimer here.  

The post Episode 130: How Eddie Lorin Transforms Neglected Properties Into Thriving Communities appeared first on The Conejo Podcast.

Eddie Lorin has been investing in workforce housing for most of his career and has developed close to 40,000 units so far. One of the newest innovations in the tax code, creates significant incentive for investing in areas that have been neglected. Eddie gives a really high quality education on opportunity zones and the different classifications of affordable housing. I'm going to listen to this interview more than once.

Prior to founding Impact Housing.com, he founded its Sponsor, Strategic Realty Holdings, LLC, as a culmination of his years of experience in investment real estate and as an offshoot of Strategic Realty Capital (SRC), which he also co-founded. Since 2008, Smart Real Estate Coach (SRC) has purchased over 15,000 units in more than 70 transactions valued at over $1 Billion, and has built a strong performing portfolio. All of SRC's apartment assets were purchased opportunistically and successfully re-positioned into thriving communities. Prior to forming SRC, Eddie Lorin led the acquisition of 110 properties; 25,000+ units contained in over $2 Billion in real estate for large national apartment company; handled over $700 million in transactions involving Class A office buildings and retail space for Douglas Emmett/Jon Douglas Commercial; You'll learn about how a difficult background and family loss prompted Eddie to get into the real estate industry; How Eddie and his team got into the distressed property market and carved out a specialized niche; Eddie's strategy for making affordable upgrades to units and then turning a profit while cutting costs; How Eddie's HAPI (Healthy Apartment Property Initiative) organization benefits the communities in which his business operates and Why Eddie outsources his apartment management and organizes his small team of employees and how his business benefits. Eddie's advice and recommendations for people who want to enter the multi-family real estate business and how to invest with his team is how “area median income” is used to determine whether or not housing is affordable based on local income averages as well as how How Eddie dealt with and overcame challenges in his career and details from his greatest career success. Http://loaradionetwork.com/chris-prefontaine

During his 30-year career, Eddie Lorin has been responsible for the acquisition of more than $3.7 billion in office, industrial and apartment community assets nationwide. Prior to founding Impact Housing.com, he founded its Sponsor, Strategic Realty Holdings, LLC, as a culmination of his years of experience in investment real estate and as an offshoot of Strategic Realty Capital (SRC), which he also co-founded. Since 2008, SRC has purchased over 15,000 units in more than 70 transactions valued at over $1 Billion, and has built a strong performing portfolio. All of SRC's apartment assets were purchased opportunistically and successfully re-positioned into thriving communities. Prior to forming SRC, Eddie Lorin led the acquisition of 110 properties; 25,000+ units contained in over $2 Billion in real estate for large national apartment company; handled over $700 million in transactions involving Class A office buildings and retail space for Douglas Emmett/Jon Douglas Commercial; and spent 8 years in asset management and development of 5 million square feet of shopping centers and industrial complexes for private Los Angeles investors. Eddie Lorin is also the co-founder of the 501C-3 non-profit HAPI Foundation, which was created to promote health and wellness in apartment communities. He earned his bachelor's degree from the University of California, Los Angeles and has been a licensed real estate broker since 1988. What you'll learn about in this episode: How a difficult background and family loss prompted Eddie to get into the real estate industry How Eddie and his team got into the distressed property market and carved out a specialized niche Eddie's strategy for making affordable upgrades to units and then turning a profit while cutting costs How Eddie's HAPI (Healthy Apartment Property Initiative) organization benefits the communities in which his business operates Why Eddie outsources his apartment management and organizes his small team of employees and how his business benefits Eddie's advice and recommendations for people who want to enter the multi-family real estate business and how to invest with his team How “area median income” is used to determine whether or not housing is affordable based on local income averages How Eddie dealt with and overcame challenges in his career and details from his greatest career success How Eddie is working to help alleviate the homelessness crisis in Los Angeles Why Eddie considers the world to be his mentor and why he learns from all his relationships and interactions Resources: elorin@impacthousing.com SmartRealEstateCoachPodcast.com/ImpactHousing SmartRealEstateCoachPodcast.com/StrategicRealtyHoldings SmartRealEstateCoachPodcast.com/webinar SmartRealEstateCoachPodcast.com/termsbook SmartRealEstateCoachPodcast.com/ebook SmartRealEstateCoachPodcast.com/QLS

In this episode, Whitney interviews Eddie Lorin, founder, Impact Housing REIT and Strategic Realty Holdings. Eddie shares how investing in affordable housing can prove to be a great value proposition for real estate investors. Can you really benefit from investing in affordable housing for the homeless? What is the typical holding period for a real estate syndicator? Eddie also reveals how he has managed to build up a well-qualified and motivated team over the years. Tune in to this very special show.

Today we're talking with Eddie Lorin, Founder and CEO of Impact Housing. a real estate investment trust. Eddie shares his personal story—he lost his father when he was an infant and then also his mother when he was 17.  He talks about the personal struggles he overcame and what he's learned from them.  Since he got into the real estate industry, Eddie has been on a crusade to provide affordable housing across America. He says one of the most important things we can do is put a roof over someone's head. Over the past 30 years, Eddie has successfully purchased and transformed more than 180 thriving communities, turning blight into light, covering approximately 40,000 apartment units nationwide. Mentioned in this episode: Impact Housing HAPI Foundation To read a transcript of this interview go to TheInspireCafe.com.  And if you enjoy the show, please share with your friends and subscribe wherever you find your podcasts. Thanks for listening!

Eddie is a returning guest who is back today to tell us about affordable housing. We’ll hear why he chooses to go with affordable housing and why he thinks more deals can be made if you can do affordable housing with your properties of potential deals. He also enjoys it because he likes to be able to help with the housing crisis. If you enjoyed today’s episode remember to subscribe in iTunes and leave us a review!   Best Ever Tweet: “No one should pay more than 30% of their income” - Eddie Lorin   Eddie Lorin Real Estate Background: For the past 30 years he has purchased and transformed over $3 Billion worth of multifamily real estate Has made it his life’s mission to fix the housing affordability crisis in America Based in LA Say hi to him at Listen to his previous episode here:     Get more real estate investing tips every week by subscribing for our newsletter at   Best Ever Listeners: Do you need debt, equity, or a loan guarantor for your deals? Eastern Union Funding and Arbor Realty Trust are the companies to talk to, specifically Marc Belsky. I have used him for both agency debt, help with the equity raise, and my consulting clients have successfully closed deals with Marc’s help. See how Marc can help you by calling him at 212-897-9875 or emailing him

On this episode I sit down with Eddie Lorin who has been investing in multifamily affordable housing for the last 30 years. He now owns Impact Housing which is a REIT and they invest in large multifamily affordable housing projects all over the nation. If you have a question that you want to be answered on the next episode, tweet me or DM me @martelantoine. Or you can ask questions here - martelturnkey.com/podcast-questions/

Eddie Lorin is a multi-family real estate veteran with over 40,000 units transformed and over $3 billion transacted (acting as either Principal or Advisor) nationwide. He is passionate about helping communities have access to affordable housing and improve the quality of life. Eddie Lorin is the Founder of Impact Housing REIT, company that focuses on both impact investing and multifamily real estate to provide financial, environmental, and social returns to its investors. He is also the co-founder of Healthy Apartment Property Initiative, a 501C3 nonprofit that provides free on-site social, health, and wellness programming for families living in apartment communities. Podcast Highlights Who is Eddie Lorin? Eddie Loren prides himself as a dreamer, a doer, and a proponent of the underdog. He shares that his childhood was filled with love and respect while living in a small apartment with his single mother and siblings. Losing his parents at a young age became a pivotal point in Eddie’s life. At the age of 17, he was learning to live and survive alone. He remembers how tough it was emotionally, psychologically, and financially. ‘Just one more day.’ This is what he uttered to himself every single day. According to Eddie, as bad as things come into your life, take in mind that there could be worst. And instead of letting them get him down, he just looked forward, had hope, and dreamed for the day ahead. From his experience and his empathic observation of his surroundings at that time, he wanted to make a difference in the world. Eddie’s mission now is to provide clean, safe, and affordable housing for working class. He does this through his company Impact Housing. He’s also very outspoken on criticizing inflated housing prices in America. Having a vision in the real estate industry It wasn’t the easiest road to take when he started in real estate. While trying to make a name for himself in the industry, there were so many bumps on the road he had to pass through. First, he experienced being taken advantage by people because he was always ‘the nice guy.’ He learned that he had to be firm and also respectful to get his message across. There was also a feeling of despair, angst, and turmoil from time to time. He drove them away by calming and meditating. He always taught himself since then that from every mistake, you gotta keep going wherever your goal is. If one thing was made clear during those times, it was the fact that real estate is where he needed to be. At first, he tried dealing with commercial and industrial properties. But then he discovered that in multifamily business he can make a lot of money and at the same time help the masses. And thus, the birth of Impact Housing. Eddie says that his ultimate gift is having a vision in renovation. Just one look at an old property, he already knows how to turn it into something different. He says that he finds those properties through his connections or a brokerage community. Do well and do good simultaneously. Eddie chooses to invest on B and C class properties and turn them into something better rather than stick with the A class. Well, aside from the reason that A class properties don’t generate cash flows, he’d choose the option where the masses will be more benefitted. He was an expert in creating value for the property and making it not just livable but also a quality affordable housing for everyone. If he doesn’t renovate B & C properties, he brings the people together at apartment communities. Through Healthy Apartment Initiative, a nonprofit that he and his wife started, he provides free on-site social, health and wellness programming for families living there. He is also urging apartments to have community gardens to promote healthy living. It’

“Everybody thinks real estate is about finding good deals. I argue that good deals are made, not found.” Eddie Lorin, the founder of Impact Housing REIT, tends to the under dogs, as he is one himself. By putting himself through UCLA and becoming successful in real estate he has the ability to transform neglected apartment communities into affordable treasures. Eddie shares with Kim that his goal is to make sure that all people have the opportunity to make a difference, your net worth is not your self-worth, and how he is able to manage 3-4,000 units that he owns. Get the show notes, transcription and resources mentioned at https://thekimsutton.com/pp460 Highlights: 00:48 An underdog at heart 5:20 How Eddie began his business 10:47 The stigma with income based rental communities 17:42 Eddie’s goals 20:25  Anyone can invest now- not just the wealthy 23:08 The management of over 3,000 units

Do you take into account the social mission or the social impact of the investments you buy? Eddie Lorin from ImpactHousing.com shares ways to invest well while doing good. Eddie helps people invest in ways that help people through the investments they purchase, such as REITs that invest in multi-family properties. For more information, visit the show notes at http://moneytreepodcast.com/204

Saving for retirement? Yes, this is a topic that some like to put off or not talk about until absolutely necessary, and that others jump into working toward the moment they start working: retirement. Are you saving for it? And how are you doing that? Today's episode features guest realtor and philanthropist Eddie Lorin who talks about making an impact on the lives of others as you save for your own retirement.

EMBRACE ALL CHALLENGES You can run from challenges, or make friends with them. Choose the latter, and you will create your reality. Actually, you always create your reality. When you embrace all challenges, you create the reality you want. That’s the theme that runs throughout this podcast. It is the theme of Eddie Lorin’s life. Eddie is our featured guest today. He is the creator of a real estate investment trust that allows everyone, yes everyone, to invest profitably in real estate. A person can begin their investment journey with as little as $1,000. Eddie champions the underdog. Orphaned at seventeen, Eddie achieved success and fulfillment with grit, hard work, and a winner’s mindset. Now, he is passionate about empowering others who want to improve their lives. You will discover many powerful life lessons and rich nuggets in this podcast. Here are just a few: A message of hope and forgiveness from a holocaust survivor The power of the Serenity Prayer The rich meaning of Impact Investing How to create wealth through contribution How to develop an abundance mindset How to turn blight into light Luxurious living on a budget Slashing taxes with Opportunity Zones Why you should be thankful for what you don’t have In a nutshell, this conversation with Eddie Lorin is all about self-empowerment. You’ll hear it in Eddie’s words; you’ll feel strongly in his passionate energy; you’ll learn it from our spontaneous dialogue. Listen to Eddie Lorin’s story if you would love to turn any mountain into a molehill. BOOKS IN THIS PODCAST How to Stop Worrying and Start Living by Dale Carnegie Radical Forgiveness by Colin Tipping The Obstacle Is the Way by Ryan Holiday EDDIE’S FAVORITE QUOTE “There is never a good time to do a bad deal or a bad time to do a good deal.” – Somebody CONTACT EDDIE www.impacthousing.com (https://impacthousing.com/)

At least one real estate investor is doing his best work by bringing affordable real estate to the masses. From ImpactHousing.com, we welcome Eddie Lorin, who'll share how you can purchase and create real estate opportunities that in his words, "do well by doing good." We'll also talk about real estate in different areas of the country and about trends in real estate investing and rehabilitation. Whether you're a seasoned real estate investor or a newbie, there'll be something for you to like. In our headlines segment... do you think emergency funds are overrated? If you're not setting money aside for the unexpected (it's called an "emergency fund" after all), you might find yourself hitching rides from Neighbor Doug just to show up at work on time. Plus, in our second headline, should we be worried about the cost of a long-term care stay? One publication suggests we should be estimating and funding long-term care a little differently. Then, we'll throw out the Haven Life Line to Derrick and his wife, who need to reduce their tax liability. What are their options? Don't worry though. We promise to save time to answer a letter and also swallow a dose of Doug's icy trivia. Thanks to Slack for supporting Stacking Benjamins. Slack: Where work happens. Go to slack.com to learn more. Thanks also to our favorite browser extension Honey for supporting Stacking Benjamins. Signup for FREE with joinhoney.com/SB Time calls Honey "basically free money." We agree.

Eddie Lorin has been in the real estate business for 3 decades now and his achievements have been nothing less than impressive. To date, he has acquired numerous office, apartment, and industrial assets nationwide. While a lot of factors have surely contributed to his success, he credits his ability to create thriving communities to his innate capability to see what most people don't. Eddie is also the co-founder of HAPI foundation, a non-profit organization that provides nutrition, education, and sustainable health and fitness programs to families residing in multi-family communities. His other current venture, Impact Housing REIT also aims to provide not just affordable and quality housing but also fitness, education, nutrition, and health-related programs to families residing in apartment communities. If you are looking for ways to make a difference in the life of others through your real estate ventures, consider today's episode a must-listen!

Eddie Lorin has been in the real estate business for 3 decades now and his achievements have been nothing less than impressive. To date, he has acquired numerous office, apartment, and industrial assets nationwide. While a lot of factors have surely contributed to his success, he credits his ability to create thriving communities to his innate capability to see what most people don’t. Eddie is also the co-founder of HAPI foundation, a non-profit organization that provides nutrition, education, and sustainable health and fitness programs to families residing in multi-family communities. His other current venture, Impact Housing REIT also aims to provide not just affordable and quality housing but also fitness, education, nutrition, and health-related programs to families residing in apartment communities. If you are looking for ways to make a difference in the life of others through your real estate ventures, consider today’s episode a must-listen!

This is THE Episode For Investors That Want To Create Wealth AND Change The World At The Same Time! We have an in-depth conversation with the amazing Eddie Loren, who's been "consciously investing" for 30 YEARS. In this episode, you'll learn... How To Do Deals That Make You Money & Impact The Entire Neighborhood What To Put Into Your Properties To Create A Sense Of Community, AND Keep Lower Income Residents Happy, And Paying Their Rents ON TIME How To Make "Affordable Housing" VERY Profitable How To Leverage Local & National Non-Profit Agencies To Help Your Tenants Have A Better Life The Upcoming $40 TRILLION Wealth Transfer And How It Impacts Real Estate The Secret To NOAH - Naturally Occuring Affordable Housing   Visit WWW.ImpactHousing.Com to learn how Eddie is rejuvenating communities around the country. Read episode transcript here- https://hrre.egnyte.com/dl/p4RHEOmDGT  

This week, we’re joined by Eddie Lorin, a 30-year multifamily real estate veteran, focusing primarily on value-add and/or under-performing multifamily properties nationwide. Eddie co-founded the HAPI Foundation 5 years ago with his wife Jane, and is currently working on promoting health and wellness in disadvantaged apartment communities. Our topics include: The vision behind the HAPI Foundation, their mission and their goals. What is the purpose of a real estate investment trust? How is Impact Housing transforming neglected properties into triple bottom lines for their investors? What can you do to help fix the affordable housing crisis? Eddie’s tips on how to make it in today’s business world!   What's Next? Learn skills that will make you the sharpest person in the Boardroom:  https://humanresources.teachable.com/   Like This Episode? Leave a tip! Learn More: https://www.patreon.com/blc   --- Listen: iTunes | Podbean | Spotify Connect: IG | T | FB | Website | Sponsor Music: http://www.bensound.com/royalty-free-music --- This episode is powered by Jumpstart:HR, LLC HR Outsourcing for Small Businesses and Startups: http://www.jumpstart-hr.com

Can you make a difference in the world while making money? Joining me today is Eddie Lorin. Eddie's newest real estate venture, Impact Housing REIT, is on a mission to deliver good financial, social and environmental returns to investors, while providing more affordable, better quality housing, as well as HAPI-sponsored free health-related education, fitness, gardening, [...] The post [Ep#231] Can you make a difference in the world WHILE making money appeared first on The Ambitious Entrepreneur Podcast Network.

Can you make a difference in the world while making money? Joining me today is Eddie Lorin. Eddie’s newest real estate venture, Impact Housing REIT, is on a mission to deliver good financial, social and environmental returns to investors, while providing more affordable, better quality housing, as well as HAPI-sponsored free health-related education, fitness, gardening, [...] The post [Ep#231] Can you make a difference in the world WHILE making money appeared first on The Ambitious Entrepreneur Podcast Network.

Eddie Lorin, CEO of Strategic Realty Holdings, LLC.

Eddie Lorin, CEO of Strategic Realty Holdings, LLC. The post Chris Voss Podcast 198 Eddie Lorin, CEO of Strategic Realty Holdings, LLC. appeared first on Chris Voss Official Website.

During his 30-year career, Eddie has been responsible for the acquisition of more than $3.7 billion in office, industrial and apartment community assets nationwide. Since 2001, he has successfully purchased and transformed more than $3 billion worth of multifamily real estate (acting as either Principal or Advisor) amounting to more than 180 thriving communities with approximately 40,000 apartment units nationwide. Eddie also co-founded the HAPI Foundation, a 501(c)(3) organization that brings education and sustainable health, nutrition, and fitness programs directly to the doorsteps of children and families living in multi-family apartment communities. Eddie’s newest real estate venture, Impact Housing REIT, is on a mission to deliver good financial, social and environmental returns to investors, while providing more affordable, better quality housing, as well as HAPI-sponsored free health-related education, fitness, gardening, and nutrition programs to residents and families living in apartment communities. The fund is currently raising capital to purchase the first “naturally occurring affordable housing” apartment community in its portfolio, which is a high rise in silver spring, MD Recommended Resources Check out our company and our investment opportunity by visiting www.SunriseCapitalInvestors.com Self Directed IRA Investment Opportunity – Click Here To Learn More About How You Can Invest With Us Through Your SDIRA Accredited Investors Click Here to learn more about partnering with me and my team on Mobile Home Park deals! Grab a free copy of my latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them MobileHomeParkAcademy.com Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2

My guest in this episode is Eddie Lorin. During his 30-year career, Eddie Lorin has been responsible for the acquisition of more than $3.7 billion in office, industrial and apartment community assets nationwide. Since 2001, he has successfully purchased and transformed more than $3 billion worth of multifamily real estate (acting as either Principal or Advisor) amounting to more than 180 thriving communities with approximately 40,000 apartment units nationwide.

FAR 127 Expected Air Date: 03/8/18 Opening: Hello everyone. I am Roger Blankenship and I teach people how to make money in Real Estate. We bring you news, trends, markets, and we feature people who are getting it done in this industry. Coming up today is Eddie Lorin. During his 30-year career, Eddie Lorin has been responsible for the acquisition of more than $3.7 billion in office, industrial and apartment community assets nationwide. Since 2001, he has successfully purchased and transformed more than $3 billion worth of multifamily real estate (acting as either Principal or Advisor) amounting to more than 180 thriving communities with approximately 40,000 apartment units nationwide. Eddie Lorin also co-founded 501C-3 non-pro t HAPI Foundation, a 501(c)(3) organization that brings education and sustainable health, nutrition, and tness programs directly to the doorsteps of children and families living in multi-family apartment communities. Eddie’s newest real estate venture, Impact Housing REIT, is on a mission to deliver good nancial, social and environmental returns to investors, while providing more a ordable, better quality housing, as well as HAPI-sponsored free health-related education, tness, gardening, and nutrition programs to residents and families living in apartment communities. The fund is currently raising funds to purchase the rst “naturally occurring a ordable housing” apartment community in its portfolio - a high rise in Silver Spring, Maryland.   Announcements: Call in to our comments line! 404-369-1018, extension 1. Leave your message.  Contractor Fails Stories. Questions@flippingamericaradio.com Tell us where you’re from! Like us on Facebook. www.facebook.com/flippingamericamedia Follow us on Twitter and Instagram @FlippingAmerica Check out FlippingAmericaNetwork.com. News: https://www.realtor.com/news/trends/20-hottest-markets-real-estate-u-s-february-2018/ http://www.miamiherald.com/news/business/real-estate-news/article203880569.html https://boingboing.net/2018/03/07/down-cad105k.html http://www.chicagonow.com/getting-real/2018/03/chicago-real-estate-market-huge-decline-in-february-contract-activity/ https://www.prnewswire.com/news-releases/improved-residential-real-estate-market-produces-strong-results-in-john-dixon-auction-300610214.html http://www.nreionline.com/finance-investment/more-foreign-capital-flowing-real-estate-debt-funds https://seekingalpha.com/article/4154248-real-estate-trade-war-consequences-housing https://therealdeal.com/2018/02/21/how-artificial-intelligence-is-changing-real-estate-investment/    Special Guest Eddie Lorin

As multifamily investors, it is easy to get caught up in making as much money as possible. Problem is, we sometimes forget that real people live in those apartment buildings. And regardless of their socioeconomic level, our tenants deserve to be treated with dignity and respect. Eddie Lorin is a multifamily real estate investor with 20 years of value-add experience and 40K units under his belt. Eddie's company, Impact Housing, is on a mission to breathe new life into neglected multifamily properties, generating positive returns for investors and improving the quality of life for residents and surrounding communities. Eddie sits down with me today to share his vision for Impact Housing and the critical need for clean, affordable housing for the working class. He explains the concept of impact investing, discussing how he takes care of people ‘where they live' by way of Class A amenities and on-site programming. Eddie speaks to his expectations for third-party property managers, describing the art and science of building a community. Listen in as Eddie offers the business argument for his model and learn how to do well by doing good. Key Takeaways Eddie's vision for Impact Housing Changing people's lives where they live Safe, affordable housing for working class Tenants stay, pay and refer friends The concept of impact investing Doing business for a purpose Millennials leading paradigm shift Working poor in distressed areas What's different about Impact Housing Focus on resident rather than deal Treat tenants with dignity, respect Provide Class A amenities How Eddie takes care of his residents Signage, pool and fitness center Health, wellness classes Create sense of community What Eddie requires of third-party property managers Budget set aside for activities, amenities Respond to work orders within 48 hours Build relationships with tenants The business argument for Eddie's model Big demand for affordable housing Safe, defensive investment What Eddie's looking forward to Deal in Maryland (townhomes) Environmental, social and financial return Connect with Eddie Impact Housing Email info@impacthousing.com Resources The Financial Freedom Summit Michael's Course Free eBook: The Secret to Raising Money to Buy Your First Apartment Building Review the Podcast on iTunes

Eddie recently launched a brand new crowdfunding REIT, with an emphasis on vision. Eddie and his company take apartment communities and completely overhaul them into super nice communities, from C+ to B+. They want people to wish they could afford living at their communities, only to find out they actually can! We’ll hear a lot of higher level commercial and residential investing tips today, including how to set up a crowdfunding REIT. If you enjoyed today’s episode remember to subscribe in iTunes and leave us a review!   Best Ever Tweet: “Good deals are made not found” - Eddie Lorin   Eddie Lorin Real Estate Background: - Founder of Impact Housing, a new crowdfunding REIT - 25 years' experience in investment real estate - Since 2008, SRC has purchased close to 15,000 units in over 40 transactions - Handled over $700 million in transactions of Class A office buildings and retail space - Co-founder of 501c3 HAPI Foundation, was developed to promote health and wellness in apartment communities - Based in Los Angeles, California - Say hi to him at - Best Ever Book: How to Stop Worrying and Start Living Made Possible Because of Our Best Ever Sponsors:   Are you looking for a way to increase your overall profits by reducing your loan payments to the bank?   Patch of Land offers a fix-and-flip loan program that ONLY charges interest on the funds that have been disbursed, which can result in thousands of dollars in savings.   Before securing financing for your next fix-and-flip project, Best Ever Listeners you must download your free white paper at to find out how Patch of Land’s fix and flip program can positively impact your investment strategy and save you money.

Eddie Lorin co-founded Strategic Realty Capital as a culmination of his 25 years experience in investment real estate. Since 2008, SRC has purchased close to 10,000 units in over 40 transactions and has built a strong performing portfolio. All of SRC’s apartment assets were purchased opportunistically and successfully re-positioned into thriving communities. Lorin is also cofounder of the 501c3 HAPI Foundation which was developed to promote health and wellness in apartment communities.   In this episode, Eddie Lorin discusses that through his REIT company Impact Housing, millennials can now get into investing in the market at much lower entry capital requirements. He talks in great depth about HUD and gives us his take on how the new tax reform bill may affect the Affordable Housing Act.   Top 10 -Entrepreneurship -$12k per door -Market sophistication -Starting with signage -$100 per door lifts -IRR metrics -Low income housing -Recession resistant -Buying for cashflow -And much more! https://impacthousing.com http://www.strategicrealtycapital.com/about/bios.php www.crowdstreet.com/wheelbarrow Jake and Gino     Check out the podcast for iTunes: iTunes Store - https://itunes.apple.com/us/podcast/jake-gino/id1025080737?mt=2 Check out the podcast for Android: RSS FEED - http://jakeandgino.libsyn.com/rss Thanks so much for joining us again. Have some feedback you’d like to share? Leave a note in the comment section below! If you enjoyed this episode, please share it using the social media buttons you see at the top of the post! Also, please leave an honest review for our Podcast on iTunes. Ratings and reviews are extremely important to our show and help in our rankings. Please leave a review if you find value in our show! Click here to learn more about our multifamily educational platform: Multifamily Mastery - https://jakeandgino.mykajabi.com/offers/tw3qfTWN If you have any questions, please email me at gino@jakeandgino.com If you would like to partner or invest with Jake & Gino, please fill out this form: Investor Form - https://invest.randpartnersllc.com/accounts/register/