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3 episodes with joel friedland
3 episodes with joel friedland
2 episodes with joel friedland
2 episodes with joel friedland
2 episodes with joel friedland
2 episodes with joel friedland
2 episodes with joel friedland
On this episode of the Passive Income Playbook, Pascal Wagner interviews Joel Friedland, a veteran industrial real estate investor and founder of Brit Properties. Joel shares his journey from cold-calling tenant leads in the 1980s to building a 100+ property portfolio—all purchased without using debt. He explains the appeal and stability of Class B industrial buildings in the Chicago market, his strategy of selling to users rather than investors for premium pricing, and the importance of investing with operators who prioritize safety and long-term thinking. Joel also offers a grounded take on reshoring trends, cautioning that labor shortages—not tariffs—will be the limiting factor for a U.S. manufacturing boom. Joel Friedland Current role: Founder of Brit Properties Based in: Chicago, Illinois Say hi to them at: www.britproperties.com Get a 4-week trial, free postage, and a digital scale at https://www.stamps.com/cre. Thanks to Stamps.com for sponsoring the show! Post your job for free at https://www.linkedin.com/BRE. Terms and conditions apply. Join the Best Ever Community The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It's free to join, but you must apply and meet the criteria. Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at www.bestevercommunity.com Learn more about your ad choices. Visit megaphone.fm/adchoices
It's time to learn the secrets of industrial real estate with Joel Friedland, a seasoned expert who has mastered the art of the deal over four decades.Joel shares his journey and the invaluable lessons he's learned along the way. Whether navigating industrial parks or forming genuine connections with investors, Joel's insights a wealth of knowledge for aspiring and seasoned real estate professionals alike.Tune in to discover why fostering meaningful connections and owning your outcomes can propel your real estate endeavors to new heights.Thank you for listening to today's episode. If this podcast has brought a smile to your face or sparked some new ideas, I'd love to hear from you! Leaving a review would mean the world to me. Appreciate you!Connect with Tyler on Instagram: @tyler_deverauxInterested in multifamily investing? Attend one of our events!
Joel Friedland is one of my favorite people in the industrial real estate market. I was pleased to have interviewed him a couple years ago and we were well overdue for a follow up interview. In this captivating interview Joel provides a ton of insights into the state of the market! About Joel: Joel has a 42 year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014 and Joel started Brit Properties. As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales, totaling over $2 billion in transactions. His greatest accomplishment is maintaining valued relationships with brokers, tenants and investors spanning five decades. He does fully syndicated deals with 0% debt, an unheard of approach in real estate which caters to his wealthy investor base primarily concerned with conservation of principal. His experiences during the Great Recession in 2008 have informed his investment approach to be hyper-conservative while still allowing an ~8% cash return, plus upside, for his investors. Joel attended the University of Michigan. He enjoys playing golf and spending time with his family, particularly his three young grandchildren. Connect with Joel: (847) 345-5534 joel@britproperties.com LinkedIn: https://www.linkedin.com/in/joel-friedland-sior-5508a791 Website: https://britproperties.com/ --
Raise your glasses with us, as we toast to the triumphs and trials in the tapestry of real estate! In a heartfelt conversation with the industrial real estate virtuoso Joel Friedland, we uncover the rugged beauty of tenant-occupied properties and the astonishing resilience of industrial spaces. As we venture through Joel's portfolio of 19 buildings, you'll find a treasure trove of insights into the adaptability of these structures, ranging from postal depots to athletic facilities, and the surprising fact that a mere quarter are owner-occupied.Life, much like real estate, is a cascade of choices, some monumental, others seemingly minute, yet all impactful. I share my own tale of conservative investing, a path less trodden that shuns high leverage for the steadiness of all-cash deals, drawing from the wisdom carved out of personal hardships and economic downturns. This candid segment peels back the layers of building a legacy in real estate, one that stands firm in the face of market whirlwinds, and the resilience required to rise from the ashes of past mistakes.Wrapping up this season's first episode, we meander through the revitalization of a small town, reminiscent of the charm found in "Virgin River," where community spirit flourishes and local politics beckon. With each property acquisition, I weave my vision into the fabric of the town, crafting a legacy beyond buildings, fostering festivals, and kindling the flames of local engagement. So, join us on this journey, and be inspired to sow the seeds of transformation in your own corner of the world through mindful investments and decisions that resonate with the heart. Thanks again for listening. Don't forget to subscribe, share, and leave a FIVE-STAR review.Head to Dwanderful right now to claim your free real estate investing kit. And follow:http://www.Dwanderful.comhttp://www.facebook.com/Dwanderfulhttp://www.Instagram.com/Dwanderful http://www.youtube.com/DwanderfulRealEstateInvestingChannelMake it a Dwanderful Day!
Joining us on this episode of Living Off Rentals is someone who has been a real estate investor since the early ‘90s. He has a unique way of investing in industrial real estate. Joel Friedland is an accomplished real estate professional with a 40+-year track record in industrial real estate. He has secured over 2,000 industrial property leases and sales, and he provides clients with comprehensive solutions for acquiring, selling, leasing, and investing. Learn about his unique way of buying industrial real estate–without using the bank. Find out how! Key Takeaways [00:00] Introducing Joel Friedland and his background [07:22] The big shifts in real estate investing [10:45] The all-cash strategy [15:09] His private money partners [23:35] Joel's real estate investing team [30:45] Where are we right now in commercial real estate investing? [37:48] Advice for people who are starting with private money lenders [39:22] W.A.I.T. [40:48] Connect with Joel Friedland Guest Links Website – britproperties.com Show Links Living Off Rentals YouTube Channel – youtube.com/c/LivingOffRentals Living Off Rentals YouTube Podcast Channel – youtube.com/c/LivingOffRentalsPodcast Living Off Rentals Facebook Group – facebook.com/groups/livingoffrentals Living Off Rentals Website – livingoffrentals.com Living Off Rentals Instagram – instagram.com/livingoffrentals Living Off Rentals TikTok – tiktok.com/@livingoffrentals
Making Billions: The Private Equity Podcast for Startup Founders and Venture Capital Investors
Send us a Text Message.Hey, welcome to another episode of Making Billions, I'm your host Ryan Miller and today I have my dear friend Joel Friedland. Joel has been involved in nearly 100 industrial property acquisitions and has raised over, get this 150 million dollars in private capital. But more importantly, Joel's experience and the lessons he's learned provide a one of a kind perspective on both entrepreneurship and debt. So what this means is that Joel's cashflow first approach is extremely valuable to all of us, as well as to his hundreds of high net worth investors.Subscribe on YouTube:https://www.youtube.com/channel/UCTOe79EXLDsROQ0z3YLnu1QQConnect with Ryan Miller:Linkedin: https://www.linkedin.com/in/rcmiller1/Instagram: https://www.instagram.com/makingbillionspodcast/Twitter: https://twitter.com/_MakingBillonsWebsite: https://making-billions.com/[THE GUEST]: Joel has been involved in nearly 100 industrial property acquisitions and has raised over, get this 150 million dollars in private capital. But more importantly, Joel's experience and the lessons he's learned provide a one of a kind perspective on both Everyday AI: Your daily guide to grown with Generative AICan't keep up with AI? We've got you. Everyday AI helps you keep up and get ahead.Listen on: Apple Podcasts SpotifySupport the Show.DISCLAIMER: The information in every podcast episode “episode” is provided for general informational purposes only and may not reflect the current law in your jurisdiction. By listening or viewing our episodes, you understand that no information contained in the episodes should be construed as legal or financial advice from the individual author, hosts, or guests, nor is it intended to be a substitute for legal, financial, or tax counsel on any subject matter. No listener of the episodes should act or refrain from acting on the basis of any information included in, or accessible through, the episodes without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer, finance, tax, or other licensed person in the recipient's state, country, or other appropriate licensing jurisdiction. No part of the show, its guests, host, content, or otherwise should be considered a solicitation for investment in any way. All views expressed in any way by guests are their own opinions and do not necessarily reflect the opinions of the show or its host(s). The host and/or its guests may own some of the assets discussed in this or other episodes, including compensation for advertisements, sponsorships, and/or endorsements. This show is for entertainment purposes only and should not be used as financial, tax, legal, or any advice whatsoever.
Discover a unique and transformative investment strategy that defies conventional wisdom: investing in real estate with no debt! In this episode, we delve into the remarkable journey of Joel Friedland, who, after facing a devastating period of depression due to massive debt during the '08 recession, completely rethought his approach to real estate. Joel's story […] The post The Massive Hidden Market of Industrial Real Estate, With Joel Friedland first appeared on Business Creators Radio Show with Adam Hommey.
Industrial real estate is a key part of the property market that encompasses a variety of spaces used for industrial activities, such as manufacturing, production, distribution, and storage. Unlike commercial or residential real estate, industrial properties are often located outside urban centers, typically in designated industrial zones. These properties are highly sought after due to their potential for high returns and lower operational costs, making them a valuable asset in an investor's portfolio. Joel Friedland is an accomplished real estate professional who co-founded Epic/Savage Realty Partners in 1991 and is the Principal at Brit Properties. There, he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. With experience optimizing industrial real estate investments and marketing strategies, Joel discusses the unique challenges and opportunities in the industrial sector. Today, Joel shares actionable advice to minimize investment risks, navigate market fluctuations, and build long-term relationships in the industry. Resources Brit Properties Website Joel Friedland on LinkedIn Brit Properties on Facebook
Joel has a 42 year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014 and Joel started Brit Properties. As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales, totaling over $250 million in acquisitions. His greatest accomplishment is maintaining valued relationships with brokers, tenants and investors spanning five decades.. Joel Friedland is a real estate investor who has a great story to share and words of wisdom to impart for both beginning and veteran investors alike, so grab your pen and paper, buckle up and enjoy the ride. Want to get in contact with Joel Friedland? Reach out at www.britproperties.com.Want to become financially free through commercial real estate? Check out our eBook to learn how to jump start a cash flowing real estate portfolio here https://www.therealestateinvestingclub.com/real-estate-wealth-book Enjoy the show? Subscribe to the channel for all our upcoming real estate investor interviews and episodes. ************************************************************************ GET INVOLVED, CONNECTED & GROW YOUR REAL ESTATE BUSINESS LEARN -- Want to learn the ins and outs of real estate investing? Check out our book at https://www.therealestateinvestingclub.com/real-estate-wealth-book PARTNER -- Want to partner on a deal or connect in person? Email the host Gabe Petersen at gabe@therealestateinvestingclub.com or reach out on LinkedIn at https://www.linkedin.com/in/gabe-petersen/ WATCH -- Want to watch our YouTube channel? Click here: https://bit.ly/theREIshow ************************************************************************ ABOUT THE REAL ESTATE INVESTING CLUB SHOW Hear from successful real estate investors across every asset class on how they got started investing in real estate and then grew from their first deal to a portfolio of cash-flowing properties. We interview real estate pros from every asset class and learn what strategies they used to create generational wealth for themselves and their families. The REI Club is an interview-based real estate show that will teach you the fastest ways to start and grow your real estate investing career in today's market - from multifamily, to self-storage, to mobile home parks, to mix-use industrial, you'll hear it all! Join us as we delve into our guests career peaks and valleys and the best advice, greatest stories, and favorite tips they learned along the way. Want to create wealth for yourself using the vehicle of real estate? Getting mentorship is the fastest way to success. Get an REI mentor and check out our REI course at https://www.therealestateinvestingclub.com. #realestateinvesting #passiveincome #realestate Interested in becoming a passive investor in one of our projects? Kaizen Properties, is looking for passive investors for our upcoming deals. We invest in what are known as “recession resistant assets”: self storage, MH & RV parks, and industrial properties. If you are interested, go to the website and click on the “Invest with Us” button at the bottom of the page.Support the Show.
In this fascinating episode of Rethink Real Estate, host Ben Brady welcomes Joel Friedland, a veteran with over four decades of experience in the industrial real estate sector. Joel, who co-founded Epic/Savage Realty Partners and later started Brit Properties, shares his comprehensive insights into what he calls "The Playground for the Wealthy" - the industrial real estate market. Joel discusses the intricacies and unique opportunities within industrial real estate, contrasting it with the residential market to highlight how it operates under a different set of rules and potentials for growth. Whether you're a seasoned investor or new to the world of real estate, Joel's perspective offers a rare glimpse into an often-overlooked sector that has been pivotal for many high-net-worth individuals and companies.
Joel's story is genuinely remarkable. He began his entrepreneurial journey at the age of 14, running a landscaping business where he convinced 70 families in one weekend to allow him to manage their landscaping, and hired 40 other high school and junior high students to manage the workload. Eventually, he started his own brokerage firm which grew to manage over twenty brokers. Over the last 40 years, Joel has been involved in nearly 100 acquisitions, totaling around 3 million square feet, and has raised over $250 million in private capital. Today, he focuses on low-risk, cash-flow-centric investments and manages an industrial portfolio of 18 buildings. Joel's experience and the lessons he's learned, especially during the Great Recession of 2008, provide a unique perspective on real estate investment. His shift towards conservative (all cash, no mortgage!) investments and a cash-flow-first approach is particularly relevant in today's market. His insights can resonate with your audience, especially those interested in real estate, finance, and prudent investment strategies. What You Will Learn: Who is Joel Friedland? Where did he start and what took him to the real estate industry? Joel shares his process in investing. Find a great building with a good location for manufacturers where they can get good labor and they can get their trucks in and out to get the products that they manufacture. Industrial buildings must have great parking. Raising money is hard work. Where did they get the name of their company? Who is Steve Podowski? Joel shares how everyone can contact him. Additional Resources from Joel Friedland: Website: http://britproperties.com/ Phone: +1 (847) 345-5534 Email: joel@britproperties.com LinkedIn: https://www.linkedin.com/company/11769890/ Facebook: https://www.facebook.com/people/Brit-Properties/100064703481200/ Attention Investors and Agents Are you looking to grow your business? Need to connect with aggressive like-minded people like yourself? We have all the right tools, knowledge, and coaching to positively effect your bottom line. Visit:http://globalinvestoragent.com/join-gia-team to see what we can offer and to schedule your FREE consultation! Our NEW book is out...order yours NOW! Global Investor Agent: How Do You Thrive Not Just Survive in a Market Shift? Get your copy here: https://amzn.to/3SV0khX HEY! You should be in class this coming Monday (MNL). It's Free and packed with actions you should take now! Here's the link to register: https://us02web.zoom.us/webinar/register/WN_sNMjT-5DTIakCFO2ronDCg
Discover the remarkable story of Joel Friedland, an entrepreneur and highly successful industrial real estate syndicator with 300+ high net worth investors and over $75M AUM. Few people have over $75 million in industrial real estate assets, and even fewer started at 14 years old and persuaded 40 of their friends to start a landscaping company and beautify 70 buildings in a single weekend, but that's just the tip of the iceberg for Joel's story. For his hundreds of affluent clientele, his cash-flow first strategy is immensely useful. His viewpoint can give us an insight into a sizable but frequently unnoticed sector of the industrial real estate business.
In this episode of Breakaway Wealth, Joel Friedland, an industrial real estate broker and syndicator, discusses the unique aspects of industrial real estate and its connection to the trucking industry. He explains the benefits of all-cash deals and the importance of avoiding excessive debt. 3 Key Takeaways: Industrial Real Estate Defined: Industrial buildings are distinguished by their loading docks, catering to manufacturing and distribution businesses. Unlike retail or office spaces, industrial properties are essential for various industries but often go unnoticed by the general public. Immunity to Economic Cycles: Friedland explains how industrial real estate, intertwined with the trucking industry, exhibits resilience to economic downturns. The constant demand for warehouse space, driven by e-commerce and manufacturing, ensures stability even during uncertain times. Investment Strategy: Friedland's unique investment approach involves syndication and focuses on all-cash deals with zero debt. By avoiding leverage, he aims to prioritize cash flow and long-term wealth preservation for both himself and his investors. From uncovering the nuances of market trends to deciphering the strategies that lead to sustainable growth, Joel has provided us with a wealth of knowledge to ponder and apply in our own investment journey.
Joel Friedland, Founder of Brit Properties, joins us to discuss moving from industrial brokerage in Chicago to syndicating his own deals. We discuss highs, lows, and invaluable insights gathered from his four-decade-long career journey. From his team dynamics to navigating current market conditions, Joel shares his debt-free investment philosophy and a wealth of additional topics. […] The post The DJE Podcast #258 with Joel Friedland first appeared on DJE Texas Management Group.
Joel Friedland, SIOR, joins us to share his expertise in industrial real estate, emphasizing the power of debt-free investing and the art of building lasting relationships. Navigate the intricacies of dealing with family-owned properties and discover the value of local market knowledge as he offers a unique perspective on achieving success in the industrial real estate sector! Key Takeaways To Listen For Benefits of investing in industrial real estate with a debt-free strategy Intricacies of family-owned business transitions and their impact on real estate opportunities The importance of environmental due diligence and addressing potential hazards How local market knowledge can lead to investment success Advice new investors should never forget Resources/Links Mentioned In This Episode The Four Agreements by Don Miguel Ruiz | Kindle, Paperback, and Hardcover About Joel Friedland, SIOR Joel has a 42-year track record in industrial real estate. As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales, totaling over $2 billion in transactions. He does fully syndicated deals with 0% debt, an unheard-of approach in real estate that caters to his wealthy investor base, primarily concerned with conserving principal. His experiences during the Great Recession in 2008 have informed his investment approach to be hyper-conservative while still allowing an ~8% cash return, plus upside, for his investors. Connect with Joel Website: Brit Properties Connect With Us If you're looking to invest your hard-earned money into cash-flowing, value-added assets, reach out to us at https://bobocapitalventures.com/. Follow Keith's social media pages LinkedIn: Keith Borie Investor Club: Secret Passive Cashflow Investors Club Facebook: Keith Borie X: @BoboLlc80554
Unlock the secrets of industrial real estate and learn how trust can elevate your investment game with Joel Friedland of Brit Properties. Joel's tale is more than just transactional tales from the property line; it's a master class in the relationship-driven world of real estate syndication. From a tenacious young graduate to a seasoned pro, Joel candidly shares his journey, the role of serendipity and sweat equity, and the delicate dance of turning a no into a yes. His early leap into ownership at 29, armed with equal parts naivety and nerve, offers a playbook for ambitious entrepreneurs itching to lay their foundation in the industry.Step into the art of conversation with strategies that turn monologues into meaningful connections. Joel and I dissect the power of listening, leaning on the WAIT principle ("Why Am I Talking?") to enrich interactions and solidify investor trust. This isn't just chatter about communication; it's an exploration into the genuine curiosity that builds lasting bonds and opens wallets. We share stories that highlight the nuance of understanding, from a principled investment decision to the daily grind of negotiating with unbending bureaucracies, proving that a good listener is worth their square footage in gold.The episode wraps with an analytical look at commercial real estate's shifting tides amidst the pandemic, where industrial spaces have outshone their commercial cousins. We navigate the nuances of tenant operations, the importance of market size over location, and the strategic selection of properties to minimize vacancy risks. Additionally, Joel imparts wisdom on the development side, from dealing with the snail's pace of sales cycles to the thrill of transforming neighborhoods. Every anecdote and insight from this discussion with Joel serves as a beacon for navigating the unpredictable seas of real estate investment.https://britproperties.com/about/our-team/Highlight Timestamps(03:21 - 04:12) From Broker to Real Estate Syndicator (51 Seconds)(10:14 - 11:29) Investor Values Experience Over Perfect Record (75 Seconds)(17:22 - 18:52) Gate Incident Teaches Patience (90 Seconds)(24:58 - 26:30) Rise of Industrial Real Estate (92 Seconds)(32:08 - 33:06) Dealing With Tough Investors (58 Seconds)(38:02 - 38:38) Decline of Small Building Development (36 Seconds)(39:38 - 42:30) Qualifying Investors for Syndication Deals (172 Seconds)(44:16 - 45:56) Investing in Industrial Real Estate Market (99 Seconds)Chapter Timestamps(00:04) - Industrial Real Estate Syndication Success(11:27) - Importance of Listening in Communication(24:58) - Industrial Real Estate During the Pandemic(39:38) - Qualifying Investors for Industrial Real Estate(45:56) - Commercial Real Estate Investing and DevelopmentIndustrial Real Estate, Trust, Investment, Syndication, Relationship-driven, Property, Entrepreneur, Communication, Listening, Pandemic, Market, Tenant, Development, Qualifying, Investors, Commercial Real Estate, Risk, Mentorship, Neighborhood, Undervalued
In this episode, Jonathan talks with Joel Friedland of Brit Properties. Joel invests in small, Class B industrial properties in Chicago, Illinois. The two discuss how the Great Financial Crisis shaped Joel's investing, why Joel does most deals with zero debt, and why you might just meet your next passive investor at the cleaners. Joel has a 42 year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014 and Joel started Brit Properties.As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales, totaling over $2 billion in brokerage volume and $250 million in acquisitions. His greatest accomplishment is maintaining valued relationships with brokers, tenants and investors spanning five decades. He does fully syndicated deals, often with 0% debt, an unheard of approach in real estate which caters to his wealthy investor base primarily concerned with conservation of principal. Connect with Joel:https://britproperties.com/TakeawaysAvoid excessive debt and prioritize conservative investment strategies.Focus on zero debt deals to minimize risk and ensure investor safety.Invest in single tenant industrial properties for their desirability and simplicity of management.Build relationships with high net worth individuals through networking and genuine care.Consider the potential for user sales when investing in properties. Cold calling and networking are effective methods for finding deals in the industrial real estate market.Intimate market knowledge is crucial for evaluating deals and understanding market rent and demand.Learning from bad deals is important, and it's essential to stick with what you know and avoid risky ventures.Networking with brokers and owners is a key strategy for finding deals in the real estate industry.Chapters00:00Introduction and Background02:19The Great Financial Crisis and Investment Strategy08:16Brit Properties and Ideal Deals12:30Recovering from the Financial Crisis16:56The Zero Debt Strategy23:20Investor Expectations and Risk Aversion29:45Single Tenant vs. Multi-Tenant Industrial Properties35:21Deal Analysis: Chicago River Property43:22Investing in Cook County, Illinois47:10Networking with High Net Worth Individuals50:39Best Deal Ever: Keebler Cookie Company Building52:13Buying Vacant Properties and Finding Tenants52:31Support the podcast by making a monthly donation through Patreon. When you contribute, you'll get access to bonus content not available anywhere else. If you enjoyed this episode, you would probably enjoy reading my weekly newsletter. Every Friday, you'll get a behind the scenes look at my investing, including current events in commercial real estate, deals I'm working on, and random personal things going on in my life. It's a super quick read and you can unsubscribe anytime. - Jonathan Subscribe to the newsletter here: www.thesourcecre.com/newsletterEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*Some or all of the show notes may have been generated using AI tools.
Doing 1 thing 10,000 times is much better than doing 10,000 things 1 time each. Join Chad Hyams as he talks with Joel Friedland about strengthening relationships and growth in your world. Connect with Joel at www.britproperties.com --------- Connect with the hosts: • Ben Kinney: https://www.BenKinney.com/ • Bob Stewart: https://www.linkedin.com/in/activebob • Chad Hyams: https://ChadHyams.com/ • Book one of our co-hosts for your next event: https://WinMakeGive.com/speakers/ More ways to connect: • Sign up for our weekly newsletter: https://WinMakeGive.com/sign-up • Explore the Win Make Give Podcast Network: https://WinMakeGive.com/ Part of the Win Make Give Podcast Network
Today, my guest is Joel Friedland. Joel has been in the industrial real estate world for over 40 years. He buys industrial properties, all cash and no mortgage. And in just a minute, we're going to speak with Joel Friedland, about syndication of industrial properties in the Chicago area.
J Darrin Gross I'd like to ask you, Joel Friedland, what is the BIGGEST RISK? Joel Friedland I'm afraid I can't give you just one. Because there are actually multiple risks. I've been doing this for 40 years, and I can tell you exactly what I struggle with with risk. Number one risk debt. If you have debt and anything goes wrong, you are screwed. So that's why we do our deals, debt free, no mortgage, that's number one. Number two in industrial, vacancy. When a building's vacant, and it's a single tenant building on a net lease when the tenant leaves. It's either 100% vacant or it's 100%. Leased. So vacancy vacancy vacancy, it's it hurts us so badly. We need to keep our buildings occupied. The third one is your area, which is risks that have to do with losses, trucks hitting the sidewall of a building, which happened to us two weeks ago. Flooding roofs that a tree falls on, you know, those insurable risks. Those are really big for us. So Basically, it's almost as if we are a homeowner. And we have all the same issues as a homeowner, except we have a tenant that pays rent instead of us occupying the house. And that's the fourth risk if you do a deal with a tenant with bad credit collections.
Today's guest is Joel Friedland. Joel has 40 years of experience as a broker, investor and syndicator in industrial real estate. Show summary: In this episode Joel Friedland shares his journey from starting as a broker to establishing his own firm. He stresses the importance of specialization and building lasting client relationships. Joel discusses the industrial market's growth due to e-commerce and manufacturing but warns of economic downturns. He advocates for all-cash deals, avoiding debt for investment stability, and highlights the competitive edge it provides. Joel compares leveraged investing to gambling, promoting a risk-averse strategy for long-term security. -------------------------------------------------------------- Intro (00:00:00) Staying focused on industrial real estate (00:01:57) Market swings and the state of the market today (00:06:18) Types of industrial real estate and market demands (00:09:10) Positioning in the industrial real estate market (00:11:06) Reasons for selling industrial buildings (00:15:24) The no-debt financing model (00:17:53) Competitive offers and leveraging returns (00:21:29) Risk Aversion and Leverage (00:23:45) Gambling in Real Estate (00:24:47) Balanced Portfolio and Risk Mitigation (00:26:57) Conclusion and Contact Information (00:27:48) Closing (00:28:25) -------------------------------------------------------------- Connect with Joel Friedland: Instagram: @investingwithjoel YouTube: @britproperties Tik Tok: @investingwithjoel LinkedIn: Brit Properties Web: https://britproperties.com/ Connect with Sam: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. Facebook: https://www.facebook.com/HowtoscaleCRE/ LinkedIn: https://www.linkedin.com/in/samwilsonhowtoscalecre/ Email me → sam@brickeninvestmentgroup.com SUBSCRIBE and LEAVE A RATING. Listen to How To Scale Commercial Real Estate Investing with Sam Wilson Apple Podcasts: https://podcasts.apple.com/us/podcast/how-to-scale-commercial-real-estate/id1539979234 Spotify: https://open.spotify.com/show/4m0NWYzSvznEIjRBFtCgEL?si=e10d8e039b99475f -------------------------------------------------------------- Want to read the full show notes of the episode? Check it out below: Joel Friedland (00:00:00) - In every downturn when there's been, let's call it agitation of my mental health and my investors. Investment safety. Yeah, it's been because in every case I can prove in every case it's because we had a loan. Intro (00:00:18) - Welcome to the how to Scale Commercial Real Estate show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big. Sam Wilson (00:00:31) - Joel Friedland has 40 years of experience as a broker, investor and syndicator in industrial real estate. Joel, welcome to the show. Joel Friedland (00:00:39) - Thanks, Sam. It's great to see you. Sam Wilson (00:00:41) - Absolutely great to see you, Joel. I asked three questions to every guest who comes on the show in 90s or less. Can you tell me where did you start? Where are you now and how did you get there? Joel Friedland (00:00:52) - Sure., so I'm 64 today. I've been in the real estate business since day one. I've only had one career, and it's industrial real estate in Chicago. I started out as a broker, working for a family that was in the business for decades, and they had 80 buildings that they owned as syndicators, and they hired me as a leasing agent right out of college, and they trained me and taught me, and they were my mentors. Joel Friedland (00:01:20) - And eventually I tried to join the family wasn't my family, and they wouldn't let me in. So I started a business with three other guys and we did the same thing. I've stayed close with that original family. I'm so close with them, actually, with one of the one of the sons that today I'm having a call with my advisory group before I buy buildings. I have an advisory group zoom meeting, and he's one of the leaders of the zoom call, and that's from 40 years ago. Same relationship. Still love him. We love each other and he's brilliant. Sam Wilson (00:01:57) - And that's absolutely amazing. I mean, I don't know if I would put that in the blessed category, like there's there's very few people that can have a single career, not only a single career, but one in a very, very niche asset class without ever looking to the left or to the right. How did you stay on track and avoid temptation to look at other shiny objects? Joel Friedland (00:02:24) - So I have studied successful people. I've studied people who are super wealthy. Joel Friedland (00:02:32) - And primarily families that are super wealthy. And I'll tell you what they have done with their business. They've stuck with it. They don't go. They don't go to the right. They don't go to the left. They just stuck with it. I can give you the stories of about 200 family businesses that I've done business with as a broker and as a syndicator, where they invest with me and every one of them goes back decades. I have a company. We're buying a building right now from a family that started a business in 1935. In Chicago. It's called the. The company in the building is called talk. Often they make you know, have you ever been in a parking garage or a university or mass transit place where they've got those posts with the blue lights, with the phone you pick up or you push a button to get security? Yep. They make those talk. A phone makes that. So these two guys started the business back in the 1930s. And now the the family that owns the building that they've been running the business in. Joel Friedland (00:03:44) - , they are are the grandchildren of the original founder. Why are they so rich? Because they did one thing. Because if you jump around, you don't learn. The ins and outs of the business. When you do something long enough, you learn it. And I'll give you an example, just like a. A metaphor or a or a. I don't know the difference between the, but,, an analogy. So,, my mother had,, kidney cancer diagnosed a few months ago. All right. So who does she go to? She goes to the kidney. Removal urologist. Who's the best in the world, right? You want the best one in the world? Would you go to someone who says, well, I used to do knees and I didn't like that so much, it didn't work out. So I started doing brain surgery. Sam Wilson (00:04:45) - It didn't like. Joel Friedland (00:04:46) - That. So I decided to go into being a urologist. And I've done a few kidneys. I've done it for a couple of years. Joel Friedland (00:04:54) - You know, you could move the frick out of there so fast. Yes, but the person who has done dozens and dozens of kidney surgeries a month, right? Same thing, same thing, same thing. So that's what my mother did. We went, we're in Chicago. She went to the University of Chicago. And Doctor Shalhoub is the guy that she saw. You know what? He removed my dad's kidney 12 years ago. Wow. He's the guy we trust. So. I'm in the same business, industrial real estate in Chicago. The niches, small industrial buildings, class B. With it are occupied by manufacturers that are owned by families. That's my niche. That's it. And there's 16,000 industrial buildings in Chicago. And there's about 20,000 companies in Chicago and industrial one point 5,000,000,000ft². If I can't make a seven figure income by knowing that market really well, I'm a moron. But I'll tell you what. If I go do deals in Tennessee, or I go into the office leasing business, or I go into the retail business or the multifamily, someone who's been in it for 40 years like I have, is going to eat my lunch, right. Joel Friedland (00:06:15) - So I stick with one thing. Sam Wilson (00:06:18) - I love it, I love it. That's that is that is admirable. And I appreciate you, given the insight onto your motivation and kind of thought process behind why you have stuck with that one thing, that one thing has seen, I'm sure, in the last 40 years, many different. Comings and goings of both market swings, of industrial appetite, of tenant, types of lease rates, cap rates, the whole nine yards if you will. Can you break down some of that for us? And maybe at the end of that give us a state of the market today? Joel Friedland (00:06:52) - Sure. 1981, when I started working for the Podolsky family,, there were interest rates out there like you wouldn't believe 17, 17 to 20% makes today's 7% mortgage look like a really good deal. We were in a terrible recession. It rode up after that because there's a recovery after recessions. And then in 1990, we hit another bump and there was a downturn. And through the 1990s it was great. Joel Friedland (00:07:21) - And then there was another downturn in 2001 when nine over 11 happened. And we rode that up. And then there was another downturn, which is the worst 1 in 2008. And now things have been riding for 15 years, all to the good low interest rates, cap rates coming down. You can't blow it in a market where you can borrow at 4% and cap rates keep going down. But that's changed. And now people are struggling because interest rates are all of a sudden at 7% instead of at 4%. And if you had floating rate debt and a lot of debt, you're screwed. So the market's been great. Industrial has been great for four years. Rents have increased 80% throughout the entire market in North America, including Canada. And that means if your rent was $5 a square foot when you started out five years ago with the lease, today it's nine. So it's been booming because of the internet? Because the internet requires warehouses. And because of manufacturing. Because as manufacturing does well, it requires industrial buildings, which are warehouses that they fit with their machines and bring all their employees in to make stuff. Joel Friedland (00:08:35) - So that's that's what the look is today. I think the market's coming down a little today. I think the the economy, the real estate economy is in a bit of trouble. And industrials still doing great. But it's not immune. Nothing's immune. Sam Wilson (00:08:51) - No. Nothing's immune. Certainly I would I would propose that things change as in the especially, you know, the types of industrial maybe that tenants want. Have you seen any shift in the last couple of years on the types of industrial real estate that is, that people are, are leasing. Joel Friedland (00:09:10) - They're leasing every kind of industrial real estate. So if if you drive down the highway in any town, big, big city, small town along the highway, you're going to see big industrial buildings occupied by companies like Amazon, right? Wayfair, like target for their online sales warehouse and for their warehouse for their stores. And if you think about it, every product in the world is made in an industrial building, except for crops that come from a farm. Joel Friedland (00:09:41) - But they are brought to industrial to be packaged and sent out. So there's nothing. If you look around on your background and you've got,, the sign, you've got the wood, you've got the,, microphone. Everything in your office, in your house was made in an industrial building someplace. Yeah, and they have to keep making it. You know, you look in the background here, everything here. There's what's in my office here probably represents 10,000 industrial buildings where products were made that either are parts that went into my phone or parts that went into my lamp. Industrial is everywhere and is necessary. And it's a part of the supply chain. It is the supply chain. Right, right. Sam Wilson (00:10:30) - No, that makes absolute sense. I love it, and it's one of those. It's one of those.. Who? I don't want to call it recession proof, but it's almost my question for you would be is on the,, you know, as demand changes or if the if the man doesn't change, I mean, tell me a guest on that front. Sam Wilson (00:10:49) - I know you said that. Yes. Everything comes from a factory and or an industrial warehouse, but how do you position yourself to be in front of what that demand type is? And or, you know, what customers want? Is that is that a question? Even make sense? Joel Friedland (00:11:06) - Yeah. I don't have to be in the front of it. I have to be in the middle of it. What's that mean? I have to be in the middle of it. I have to be. I have to own industrial buildings in great locations where companies want to be, and I have to keep my tenants. And, you know, you and I talked about this before we buy all of our buildings., all cash, no mortgage, debt free. And I think I've done a little study. There's probably 4000 syndicators in the United States with portfolios over $50 million. And I would say of the 4000, we may be the only one that does all cash deals. Yeah. So when I say I have to be in the middle of it, I have to own buildings. Joel Friedland (00:11:49) - My investors put 25, 50 or $100,000 into our deals. They expect me to know what I'm doing and to protect their money, which is why we don't have mortgages. You can't lose to a bank if there's no mortgage. Right. My tenants expect me to give them a fair deal. And they expect me to keep their roof from leaking. These are net leases. But even in a net lease,, in industrial, landlords are almost always responsible for the roof and the structure of the building. So being in the middle of it means knowing my market inside out and only buying buildings that are desirable for any kind of tenant. No matter what they do, whether they're a distributor or a manufacturer. And making sure that they are in locations where there's a lot of,, population density public transportation in Chicago., we own ten industrial buildings in the city, and with one exception, they are all occupied by distributors and manufacturers. We have one that's a service company., in Florida, for example, there's a complex in in every major city in Florida where they have service companies,, and they have drive in doors so that companies that install shower doors or companies that do sprinkler systems or clean pools, they don't have loading docks and they don't have manufacturing. Joel Friedland (00:13:18) - Florida is not a manufacturing area. Right, right. Pretty much the Rust Belt is. So the Rust Belt is is sort of the East Coast. The the Midwest. And then going out into Southern California, there's there's a lot of manufacturers there, but most of the other markets are distribution markets. So to be ahead of the market, you'd have to have a big warehouse in Nashville. There aren't a whole lot of manufacturers moving to Nashville, and it's a smaller market in Chicago. There are so many companies manufacturing products. I just need to own a building that they all like. That's the key. So it's gotta have high ceilings. It's gotta have good loading docks. It's all about the geometry and the physical makeup of the building. So I don't have to be in front of it because it's a very old line business. All these buildings go back to the 1960s. 70s 80s 90s the last 20 years,, we just buy existing buildings. We don't build anything. So the people who stay out in front of it are the developers who build these giant 500,000 square foot buildings, million square foot. Joel Friedland (00:14:29) - We don't do that. Because we're syndicators, we have to do a smaller variety of business than buying a $200 million complex with one tenant. Sam Wilson (00:14:39) - Right, right. And that's actually here in the Memphis market, which is, you know, a huge distribution market. That's what we're seeing. Sit vacant actually, right now are those massive buildings that there was a boom there for a while. But those massive buildings are the ones that I was talking to a broker here locally about. They said the smaller stuff like maybe, you know, what you're getting into is stuff that's still, you know, in high demand, but those huge buildings just are they're tougher to move right now. So that's, yeah, that's really interesting. Let me ask you this. Why? Why do people sell these buildings? You're in a market that sounds like it has just. You know, unmet demand. So why are people even selling this at all? Joel Friedland (00:15:24) - Now they don't. Very often. That's the problem. There are very few buildings on the market. Joel Friedland (00:15:29) - Are our,, vacancy factor across the Chicago areas? About 4%. Whoa. And people don't move if you're in a in the industrial business. So let's say you're in multifamily or let's say mobile home park or let's say,, self-storage. Yeah. How long does it take one of those tenants to leave? Few hours, right, a few hours. An industrial company that's manufacturing products, that has 40 machines that are screwed into the floor, with 40 employees that have been trained how to use those machines over a period of years. Moving that takes two years from the start. When you think you want to move to actually implementing the move as a two year process. Wow. You can compress it probably to a year and a half if you're really good as a as an owner of a company. But why would they want to move if it takes two years to do it? And it's a distraction from what they do running their business. Also, they can't lose their employees. They don't want to move. Joel Friedland (00:16:40) - They don't want to retrain people. And also usually if it's an entrepreneurial company, the location of their building is right near where they live, so that they don't have to drive that far for their commute. So for so many reasons, they don't leave. And, you know, the cost of moving the machines. This is just one company. We have a company that makes fruit juice concentrates in a building in Chicago. They're in 40,000ft². If they moved, it would cost them $20 million. Sam Wilson (00:17:13) - Right. So they're heavily incentivized to stay put. Joel Friedland (00:17:16) - That's they're not leaving. Yeah. No, no, they're. Sam Wilson (00:17:20) - Not going. Joel Friedland (00:17:20) - Anywhere. Sam Wilson (00:17:21) - I want to ask you a question about your. And thanks for giving me the insight on that. That's that's really cool to be in a market like that and to,, be able to play in that in that space is,, is pretty cool. That's, that's, that's that's a very niche niche market niche kind of type that you're in there in the industrial real estate space. Sam Wilson (00:17:38) - I think that that's fascinating. But let's talk a little bit about your. Financing and or lack of financing model. When did you kind of hatch that idea and potentially tell us why? Joel Friedland (00:17:53) - , I've bought a hundred buildings over the years with my investor groups. And in every downturn when there's been. Let's call it agitation of my mental health and my investors. Investment safety. Yeah, it's been because in every case I can prove in every case it's because we had a loan. Sam Wilson (00:18:21) - Wow. Joel Friedland (00:18:21) - Every time you get in trouble, it's like, how are we going to pay the debt? How are we going to pay the mortgage? Okay. Real estate is a mortgage business. It's a business where you have leverage. Everybody knows that. That's what real estate is. But after 40 years really after about 35 years. So a few years ago, after recovering from 2008, where we did have losses, we lost money on sales, selling buildings that we should have made money on if we had better staying power. Joel Friedland (00:18:52) - . And I look at all of the deals of the, of the 100 deals we've done, we own 19 and we've sold the other 81. And of the 81 we've sold, nine, which is roughly 10% have lost money. Wow. And the common link on every loss is that when things got bad in a down market, paying the debt became very difficult. Banks have no sense of humor. And I've decided that rich people who invest in deals for the long term want safety first. They want to preserve their capital. And I have a group of them that hate losing money and like, steady cash flow. You know what your cash flow is if if you have no debt, it's 100% of your NOI. 100%. There's nothing going to the lender. There is no lender. So an example. We have a building that's,, we're into it for about $2.5 million in Chicago. The company that's in it as a manufacturing company, they make,, welding,, safety products, safety products for the welding industry. Joel Friedland (00:20:03) - The rents 235,000 a year. We have some expenses, but they pay the taxes, insurance, maintenance and utilities. When you take out our expenses, it's $220,000 of NOI on 2.7 million, which is our our all in price. It's an 8% cash on cash return. And we keep paying it because the tenant keeps saying they've been in the building since, I think 1987. They're not leaving. In. The rent goes up every so often, sometimes every year in certain buildings. So the no debt concept for me. Is. My investors love it. They do have riskier other investments, like my typical investor might have 1020 syndication investments, private placements. Sure, we're the only one with no debt. I don't recommend that other people do this. I just do it because for me, it makes me feel safe. I sleep at night and my investors sleep at night, but it's not for everybody. Sam Wilson (00:21:14) - No. Certainly not. I really like that model. I guess the one kind of stand out question in my head is how do you make competitive offers if you're doing it in all cash? Joel Friedland (00:21:29) - You mean offers to sellers. Sam Wilson (00:21:31) - . Joel Friedland (00:21:32) - Oh well we're the most credible seller in town. We don't need a mortgage. We're all cash buyers. So if someone's trying to sell a building to us for $2 million, I say I've got the cash in the bank, I don't need to borrow money. So we'll do our due diligence. We'll spend 30 days doing due diligence. If everything checks out., we'll close two weeks later. I don't need to go to a bank. I don't need to do anything. Just close. Sam Wilson (00:21:57) - Right. I guess maybe the further thought on that is that leverage can potentially increase returns. So what you will have is that people can afford to pay more for it because they're taking leverage on that makes the deal, quote unquote, sweeter. Does that make any sense? Joel Friedland (00:22:14) - It does. And I consider that to be gambling. Sure. It's just it is, it is. It's gambling. And I'm not saying, listen, gambling when you're an entrepreneur and you're in business or you're a real estate investor, you're a gambler to some extent, right? You're even if you read the paper, it's Hines bought this building in Bedford Park, Illinois, and they made a bet on an industrial and Bedford Park. Joel Friedland (00:22:42) - It's a bet. It's a bet, right? So every every time you do a deal with a lot of leverage. If you're stretching to make the deal, and you're trying to prove to your investors that you're going to get them a better return than anyone, and to do so, you need to take a lot of risk by borrowing a lot of money where rates have to stay low, tenants can't leave., the the,, property doesn't need a lot of work. It doesn't need a new heating system. It doesn't need the driveway redone. It doesn't need roofs redone. If you can find the perfect situation and the market's going up. Yeah, sure. You can overpay for everything. We don't have to pay for anything. Sam Wilson (00:23:29) - Right? Joel Friedland (00:23:30) - Right. If someone wants to pay more than us because they're bigger gamblers than we are, we just don't get the deal. Sam Wilson (00:23:36) - Right? Sam Wilson (00:23:37) - I love it, I love the discipline there, and I really I really, actually,, appreciate that because, I mean, you you you know what you want one. Sam Wilson (00:23:45) - The price of what it takes to sleep at night. There is a price to that. And that is maybe that you have less or, you know, lower returns maybe, than what the next guy does that takes on leverage, but that is a price you're willing to pay. And I love that. I mean, and it sounds like your investors love that too, because again, like you own it in cash. Like, okay. So oh well like right. Joel Friedland (00:24:08) - We're we're risk averse. That's the that's the term or risk averse. And today, for example, I'm seeing a lot of people getting in trouble because they had floating rate debt and. Sam Wilson (00:24:20) - They oh gosh. Joel Friedland (00:24:21) - If you're the kind of gambler in real estate that says, I'm going to make a bet, I'm going to bet that if I buy this $10 million complex and I put 7 million of debt on it, so I have 3 million of equity. And I'm buying it for a six cap. If everything goes perfect in three years, I might be able to sell it for a five cap. Joel Friedland (00:24:47) - But what happens if the market's bad rates have gone up? You can't afford your mortgage to even get to the point of selling it. The roof needs to be redone, the parking lot needs to be patched, and now you're in a situation where you're, like, swallowing hard and like, you know that that feeling I have over the years been a casino gambler. You know, that dopamine hit you get when you're playing blackjack. Do you gamble at all? Sam Wilson (00:25:13) - I don't want to say this on air. 20 years ago, in my early 20s, I did. I, I gave that up about 20 years ago. But yeah, in my earlier life when I was younger and had more money to blow and no, no family and kids. Yes, I did at one point. Joel Friedland (00:25:29) - Okay, so I believe that a $10 million purchase with a $7 million mortgage is a form of gambling. Oh, it's not that. It's not that it's wrong. And if you can project the 20% IRR over a three year period. Joel Friedland (00:25:44) - And and make it happen. That means. You bought it for 10 million. It has to be sold for for more than 10 million. Because you got to get your money back and you got to pay the mortgage off. So you've got to get more than 10 million or you lose. So you're betting that the property in the next three years or five years will be worth because you have selling costs. It's got to be worth 11 million just to break even. Sam Wilson (00:26:11) - At least. Joel Friedland (00:26:12) - So you're betting that what you're buying now for 10 million will be worth at least 12 million, or you're a loser in the casino. Sam Wilson (00:26:21) - Right? Joel Friedland (00:26:22) - And anything goes wrong. You're you're staying. Power to get to that fifth year is debatable. And that's why you're seeing so many foreclosures today and so many people selling buildings for a loss all over the place. We just don't want to do that. Sam Wilson (00:26:45) - No. There's no. And that's it. That's it man, I love your approach. Love the way you guys are doing things. Sam Wilson (00:26:50) - I love the the no debt syndication that that that's really, really cool. So thank you for saying it's not for everybody. Joel Friedland (00:26:57) - I'm not recommending it for people who go into syndications like mine, I recommend to them that they go into some risky things with a lot of upside. Sure, because you've got to have a balanced portfolio. First of all, they should own some stocks, they should own some bonds, they should have some cash, and they should have some real estate or other alternative alternative investments. I'm just a little tiny piece of everybody's portfolio. Sam Wilson (00:27:25) - Right? Just a. Joel Friedland (00:27:26) - Tiny piece. And that's all I should be. Sam Wilson (00:27:29) - Right? Sam Wilson (00:27:30) - Right. Yeah, but it's an important piece. It's an important piece. And it's in and it's. And it's a risk., I'm not gonna call it risk free, but it's almost as risk free of an investment as you can get. So, yes, I. Joel Friedland (00:27:42) - Call it I call it highly risk mitigated. Sam Wilson (00:27:45) - Right. Sam Wilson (00:27:46) - Highly risk mitigated. Yeah. Absolutely. Sam Wilson (00:27:48) - Joel, thank you for taking the time to come on the show today. It was certainly insightful. I've learned a lot about your market. I've learned a lot about your work history and career experience. It,, it was certainly great to have you on. And again, I learned I learned a lot from you. I love the way you guys are doing all of your deals in all cash, no debt., that's very, very compelling. If our listeners want to get in touch with you and learn more about you, what is the best way to do that? Joel Friedland (00:28:12) - Brit properties. Brit with one t Brit properties.com Brit properties.com. Sam Wilson (00:28:18) - We'll make sure we include that there in the show notes. Thank you so much again for coming on today. I certainly enjoyed it. Joel Friedland (00:28:24) - Thank you Sam. Sam Wilson (00:28:25) - Hey thanks for listening to the How to Scale Commercial Real Estate podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts. Sam Wilson (00:28:35) - Whatever platform it is you use to listen. Sam Wilson (00:28:37) - If you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories. So appreciate you listening. Thanks so much and hope to catch you on the next episode.
#244: Joel Friedland - Raising Money, Going Debt-Free & How to Survive A Mental Crash I hopped on Zoom with investor Joel Friedland, with a 42 year track record of over 2000 industrial leases and over $2 Billion in brokerage volume! He also does syndicated deals with 0 debt which is unheard of approach. We dive in to how he does that, WHY he does that, and how he raises capital for these deals; the 2008 crash and how it lead to a deep depression, and how he was able to get out of that; the Four Agreements; the importance of mental health, and MUCH MORE! If you are stuck or looking for a new strategy, TUNE IN! Contact: Instagram: @investingwithjoel This episode proudly sponsored by 1Bitcoin.ca Do you know what blockchain is? How about the difference between Bitcoin and crypto? After 15 years of explosive growth across the globe, it's important not to get left behind. We are currently in the mid 90's of the internet when it comes to adoption. Want to learn more? make sure to reach out to a 1Bitcoin.ca Broker today. Whether you have basic security questions or you need help buying bitcoin in a safe and convenient way, 1Bitcoin.ca is here for you. Get started today with Canada's Bitcoin Partner, 1Bitcoin.ca Other Links: Gary's mentorship program visit https://garyhibbert.ca
How can real estate investing risks be decreased and managed effectively? In this episode, Adam Torres and Joel Friedland, Founder/CEO/Principal at Brit Properties, explore the Brit Properties brand of real estate investing and approach. Follow Adam on Instagram at https://www.instagram.com/askadamtorres/ for up to date information on book releases and tour schedule.Apply to be a guest on our podcast:https://missionmatters.lpages.co/podcastguest/Visit our website:https://missionmatters.com/Support the showMore FREE content from Mission Matters here: https://linktr.ee/missionmattersmedia
How can real estate investing risks be decreased and managed effectively? In this episode, Adam Torres and Joel Friedland, Founder/CEO/Principal at Brit Properties, explore the Brit Properties brand of real estate investing and approach. Follow Adam on Instagram at https://www.instagram.com/askadamtorres/ for up to date information on book releases and tour schedule.Apply to be a guest on our podcast:https://missionmatters.lpages.co/podcastguest/Visit our website:https://missionmatters.com/More FREE content from Mission Matters here: https://linktr.ee/missionmattersmedia
Joel Friedland has been in the industry for 40 years and has seen his fair share of up and down markets. As we stare at $1 trillion worth of commercial real estate debt coming due over the next two years, this episode is timely. Real Estate is traditionally bought with leverage, sometimes 80%+ leverage, with high risk bridge loans, but Joel doesn't mess with debt. Instead he prefers low risk real estate with predictable returns. 3 Pillars Family Freedom Relationships Welcome to Pillars of Wealth Creation, where we talk about building financial freedom with a special focus in business and Real Estate. Follow along as Todd Dexheimer interviews top entrepreneurs, investors, advisers and coaches. Interested in coaching? Schedule a call with Todd at www.coachwithdex.com Connect with Pillars Of Wealth Creation on Facebook: https://www.facebook.com/PillarsofWea... Subscribe to our email list at www.pillarsofwealthcreation.com Listen to the audio version on your favorite podcast host: SoundCloud: https://soundcloud.com/user-650270376 Apple Podcasts: https://podcasts.apple.com/us/podcast... Google Podcasts: https://podcasts.google.com/feed/aHR0... Sticher: https://www.stitcher.com/podcast/pill... iHeart Radio: https://www.iheart.com/podcast/pillar... CastBox: https://castbox.fm/channel/Pillars-Of... Spotify: https://open.spotify.com/show/0FmGSJe... Pandora: https://pandora.app.link/YUP21NxF3kb Amazon/Audible: https://music.amazon.com/podcasts/f6c…
Join us on the latest episode of Passive Investing from Left Field, featuring industrial real estate syndicator Joel Friedland.With over 40 years of experience, Joel shares his insights on the significance of due diligence and how understanding tenants and real estate taxes is crucial to the success of real estate deals.Discover why their company opts for all-cash deals with no debt and learn about the priorities set for tenant selection to ensure stability and security. Gain knowledge on how important neighboring businesses can impact your property's value as Joel walks us through the responsibilities of landlords for building maintenance and insurance.Dive into this informative session that sheds light on the appeal of industrial real estate for pension funds and the unique investment approach adopted by Joel Friedland. Don't miss out on this enlightening conversation that will change the way you think about industrial investing. About Joel Friedland Joel Friedland is an industrial real estate syndicator with over 40 years of experience and nearly 100 acquisitions in the Chicagoland area totaling ~3 million sq ft. He has north of 200 investors and has a unique philosophy when it comes to debt ratios and preservation of capital. Day to day, he manages his portfolio of 16 industrial buildings in Chicago and is actively seeking new deals and partners to join our group. Here are some power takeaways from today's conversation:01:47 His real estate journey06:25 Transitioning from being a broker11:02 Did he branch out and come back to Chicago?13:31 How he deals with concentration of risk as a company?16:53 What he is responsible for vs what his tenant is responsible for.18:26 Pros and cons of doing deals with no debt23:53 Tenant selection27:40 The biggest risks when investing in industrial real estate33:33 How does an LP vet his company?38:05 Metrics that LP investors can focus on when evaluating one of his deals39:56 His exit plan45:00 How does you come to an agreement on price47:04 Podcast recommendation47:51 Contact48:30 Thank you for watching This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned:Podcast Recommendations:Thoughtful Money https://www.youtube.com/@adam.taggart Advertising Partners:Rise48https://rise48.com/Rust Belt Capitalhttps://rustbeltcapital.com/Left Field Investors - BEChttps://www.leftfieldinvestors.com/bec/Spartan Investment Grouphttps://spartan-investors.com/Left Field Investors - BEChttps://www.leftfieldinvestors.com/bec/
Key Takeaways Industrial is the backbone of our country, really of the world. Everything is made in an industrial building. Companies are coming back. It's called onshoring or reshoring where what they used to do overseas; they now need to do locally. Real estate is a leveraged business for the most part. You've got to have your back office. In my case, I've got two guys in my back accounting office that have been with me for 20 years. Timeline [02:24] Intro to episode guest [03:41] One word that describes Joel personally and professionally. [06:220] Provide a brief overview of your background, detailing your journey over the years, from your initial steps to your current role at Brit Properties. [15:50] Do you just own your buildings and take care of all the maintenance and issues or are your tenants triple net tenants? [20:04] So we have said that real estate's a leveraged business. Isn't your IRR or your return to your investors higher with debt on the property than it is when you're all cash? [30:35] Let's discuss the real estate market briefly. Given that 2023 hasn't been an ideal year for real estate purchases, what has been your experience, and what are your insights on where the markets are headed in the next 12 to 24 months? Contact Email: joel@britproperties.com
ResourceCheck Out Brit PropertiesReal Estate Marketing DudeThe Listing Advocate (Earn more listings!)REMD on YouTubeREMD on InstagramTranscript:So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webster, Real Estate Marketing Dave. And this podcast is all about building a strong personal brand. People have come to know like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them, Let's get started.00:06:09:10 - 00:06:30:05UnknownWhat's up? Ladies and gentlemen, welcome. Another episode of the Marketing Dude podcast. Folks, if you've been following last few weeks, the name of the game right now is thinking outside the box and doing things a little bit differently and opening your eyes to new things. There's lawsuits, there's all kinds of shit going on in the real estate industry, and whenever there's turmoil like this, there's also a lot of opportunity.00:06:30:05 - 00:06:45:19UnknownBut you have to be able to see it and take advantage of it because it's during the shifts that the people from nowhere make big names from themselves, and the ones who are big names end up drowning. And I like to bring a lot of different perspectives onto the show. So I don't know. This guy is from Chicago.00:06:45:20 - 00:07:06:18UnknownThis is two Chicago people in a row. So you're welcome. There's a reason why we're fucking awesome. It's because we work hard. Unlike the people in California. No offense taken. No, we're there. We're going to go out and introduce our guests today. We're going to be talking about industrial real estate, industrial investing. It's much different than what we've typically talked about.00:07:06:18 - 00:07:23:15UnknownDon't think we've ever had this on the show. So I'm excited to see where the conversation takes us today. So without further ado, let's go out and introduce our guests. Mr. Joel, Fred Friedman. FRIEDMAN How do I want to say it? Friedland. Friedland okay, I'm all right. Sorry. I did see the land at the end. Well, how are you doing it?00:07:23:15 - 00:07:43:16UnknownSay hello and now tell us a little bit about yourself. Sure. So I live in Chicago. I grew up in a suburb of Chicago called Highland Park. And when I was 22 years old, I graduated from the University of Michigan, by the way, two years there and before that, two years at San Diego State. So I love San Diego, where you live.00:07:43:18 - 00:08:11:06UnknownCongratulations on your championship. Thank you. Thank you. Big deal. Yeah. Yeah, it was awesome. So right after graduating, I wanted to get into real estate and I thought, I'm going to get into residential real estate because that's what I do. And a friend of mine introduced me to a family that owned a business called Podolski Podolski Family, and they owned 84 industrial buildings and we're looking for a leasing agent.00:08:11:08 - 00:08:39:13UnknownSo and a property manager. So I interviewed them on a Thursday and I started on Friday. And because I was, I think, a pretty good interviewer. Interviewee they hired me right away and said in 1981 interest rates were 17%. They had 84 buildings, ten of them were vacant, and they wanted me to figure out how to do the lease up of their vacant industrial buildings.00:08:39:13 - 00:09:08:21UnknownFirst of all, you have to understand what an industrial building is. An industrial building is is usually in the way they have industrial parks in every city and every town has them. In Chicago, there were 16,000 industrial buildings, but most people never even heard of it. An industrial is where warehousing takes place and distribution. So for today, the famous industrial tenant is Amazon.00:09:08:23 - 00:09:47:01UnknownAnd but every store has a warehouse. Every chain, every restaurant chain has a warehouse. And then there's manufacturing where every product if you look around in the background here at this place, everything the back in my background was made in an industrial building, manufactured or assembled. Your headphones, your hat, your microphone, your shirt, the computer, everything. An industrial, therefore, is really the backbone of the American economy as far as supply chain, logistics and creation of products.00:09:47:03 - 00:10:08:18UnknownI knew nothing about it. So it started out as an industrial real estate agent. I didn't even have a license. Did you ever need one then? In 81. yeah. yeah. And the Podolsky said, You need to go get a license. You're going to act as a broker. We're not going to tell anybody. I think the statute of limitations is up from 42 years ago.00:10:08:20 - 00:10:32:09UnknownSo you're you're saying about a license. We're going to find out if you're even worthy of backing you and having you go out and get a license. So we're going to see what you can do. So Mr. Podolsky, Steve Podolsky, who was my mentor, told me to get in my car and drive to industrial parks and look around and figure out what industrial is.00:10:32:11 - 00:10:56:21UnknownAnd it was summertime and the weather was beautiful and I knew they had vacant buildings. So I drove to a town where they had a number of vacancies called Schiller Park. Where Airport? Yeah, I parked my car on the street in an industrial park and I just started going door to door to companies like big companies where they have 30 employees or 50 or 100 employees.00:10:56:23 - 00:11:19:05UnknownAnd I walked door to door into each building and I'd walk in. And at that time there were receptionists. There's always a receptionist. They were the people who answered the phone and greeted people. And I'd walk up to the receptionist and I'd say, Who do I talk to about whether you guys might want to move your company to a building that's available a block away?00:11:19:07 - 00:11:46:01UnknownAnd I had a stack of fliers with me that had the pictures of the buildings and all the specifications, and by doing that, I actually found tenants who were looking to move. It was a really rough time though. In 1991, there was a really bad recession. It was similar to how it felt in 2008. Yeah, real bad. And people who aren't as old as I am don't remember that because they weren't there.00:11:46:03 - 00:12:12:01UnknownAnd then there was another recession, by the way, in the early 1990s, 1990 and 1991. So I've been through these cycles and I learned that when that first job, that when things are bad, you have to work harder. You have to talk to more people and you have to find more opportunities by just having total perseverance. And after being an agent for the Podolski, I became a tenant rep and a buyer rep.00:12:12:01 - 00:12:50:21UnknownAs a broker. I got my license and I represented tenants. I had some really interesting tenants that made products that, you know of that are out there, your microphone. Is that a Sure this is an idea actually, it's such a good question. I think this the at 2100 is the one I originally had, but I bought new one same model or not also sure sure as a microphone company and I'd say they they take they're a major part of the microphone market and I call on them because they were in Niles, Illinois, and that's where one of the Podolski buildings that was vacant was located.00:12:50:23 - 00:13:09:10UnknownAnd I actually stopped in and I talked to them and I said, Hey, how would you like to move to the warehouse That's about four doors away? And they threw me out. Yeah, I got thrown out of a lot of places. I one place I walked in and there was no reception. So it's just this guy chomping on a cigar at the desk by the front door.00:13:09:10 - 00:13:51:05UnknownAnd I said, Hi, I'm here to see if you might consider moving. He says, Go buy, get out. Yeah, there was a lot of that. So I was just I was a perseverance machine as an agent. And then about nine or ten years in, I decided it was time. Maybe to start investing in industrial real estate. So I put together a syndication, my first one and I raised $560,000 and $20,000 chunks from people that I knew from my family locally, from building relationships with clients who were tenants and owners of companies.00:13:51:07 - 00:14:16:16UnknownAnd we did the first deal, we did the second deal, and now we've done 100 industrial real estate acquisitions. So syndication, what would you say would be the pros and cons to it as opposed to syndicating multifamily? Because I know a lot of a lot of people are very familiar with, if you're not familiar syndicator, multifamily goes watch like 20 shows on this podcast or just just look at Grant Carter like it's all over the place, right?00:14:16:18 - 00:14:41:24UnknownSo what's the difference between in Yeah, walk us through the pros and cons like why industrial over multifamily? Because I would, I think the email is this or is this like the the sleeper cell here because everyone saying, industrial office like people are commercial real estate investing sounds scary right now in the general public. So industrial is the hottest asset class in real estate right now.00:14:42:01 - 00:15:13:16UnknownAnd the reason is because the Internet has caused a need for warehouses, because every time a store sends a warehouse opens. Also, there's a lot of political trouble with China and a lot of products are made in China for American companies and companies who struggled with supply chain issues during COVID and still are. And some of the problems between the United States government, the Chinese government, because we're mad at them for stealing our stuff, Right.00:15:13:18 - 00:15:39:13UnknownAnd for not playing fair. A lot of companies that used to make products in China are now bringing it back to North America, and that's called reshoring. So the two trends, the Internet and reshoring have made industrial the hottest. And it's interesting you say that, cause I just spent a week in Chicago for Christmas and my folks live on the South Side near Joliet and Crest Hill, Romeo Ville area.00:15:39:15 - 00:15:59:00UnknownAnd literally since the last time I've been home to the time I was there, I can't tell you the amount of warehouses from Amazon Target just moved in on Weber Road. Well, Wayfair is right there. Like there's just a tremendous amount of warehouses and they're not very expensive to build. So just like a big vanilla box essentially. And then there's a big box.00:15:59:00 - 00:16:19:00UnknownThey're big boxes, they have little boxes, they have tall boxes, they have short boxes. Some of them have a lot of loading docks for trucks. Some of them just have a few loading docks. Some have a lot of office on one end. Some have almost no office in the middle or on the end. But here's what's great about industrial that people don't know.00:16:19:02 - 00:16:47:19UnknownAnd I'm not trying to say, Hey, everyone get involved in my business. But when people hear this, they really like it. The cap rates are higher because everyone's in residential. So the competition in terms of demand or investments in multiple family, you can find thousands of people who do multifamily work. And if you look at every podcast, there's only three or four industrial podcasts.00:16:47:21 - 00:17:11:06UnknownYeah, I get I get pitched for like real estate investors for this show. Like I get like three a week. It's nonstop is just like a guru every like minute, like popping up. Yeah. So the yields on multifamily because everybody's cramming in and there's too many people in it are running somewhere in the neighborhood. It's been is depending on whether it's on the coasts or whether it's somewhere in the middle of the country or whether it's Nashville.00:17:11:08 - 00:17:44:24UnknownYeah, but the yields, if you invest in a multifamily deal or anywhere between five and six and a half percent and in my industrial deals, I wouldn't take less than 8% of my life depended on it. I'm not interested in that. And there's a reason for that. It's because it's riskier. Usually we buy single tenant buildings. If you have a multi family complex with 300 units and you have ten vacancies in a month, you still can pay your mortgage.00:17:45:01 - 00:18:09:17UnknownWell, we'll get into mortgages because that may not be true as rates have gone up, but there's less risk because there's diversification inside of that one investment with industrial, if I have a tenant and let me give you an example. Comcast was a tenant in one of my warehouses. They have to keep their equipment somewhere and the cable guys have to pick stuff up and they have to drop stuff off at a place to park their vans.00:18:09:19 - 00:18:37:16UnknownSingle tenant If Comcast leaves, I'm 100% vacant, but in the meantime, we own that building for 15 years, and by the 15th year our return was 32% yield per year because it went up every year. That's the other thing about industrial. We have generally built in escalations every year. And here's the third thing. That's that's maybe the best.00:18:37:18 - 00:19:03:01UnknownWe love manufacturing buildings. We love buildings where people have equipment and they put racks up. They can't leave. I was going to say it's like golden handcuffs. It's expensive to leave once you do it. Yeah, they can't go once once they're in, especially manufacturers, because they bring in, let's say, 30 machines into a 30,000 foot building and it might cost $50,000 per machine to move.00:19:03:01 - 00:19:32:07UnknownIt would cost over at least to move. So they just stay and stay and stay. So you've got higher returns. You've got automatic annual escalations, you've got this long term type of tenant. And one of the great things also about industrial is they're really easy to manage. So if you're if you have 100 units, yeah, no one's calling you, no one's calling you to unclog a toilet.00:19:32:07 - 00:19:53:14UnknownThey're no we have what's called now. That's right. What's called net leases and net lease is where the tenant pays everything. It's what I say to a tenant when they walk into one of our buildings, the potential new tenant, and they say, What are we responsible for? My answer is this It's very clear. It's as if you own the building, except you don't own it.00:19:53:14 - 00:20:16:05UnknownYou pay rent instead of owning it. And what I'm saving you is not having to invest the down payment. It's our money that's invested and you don't have to get a mortgage and you don't have to worry about paying all the the things that are behind the scenes that I do. But you pay for the mowing the lawn, you pay for the trimming of the bushes, you pay for the parking lot to be maintained.00:20:16:05 - 00:20:38:24UnknownIf it's Chicago, you pay the snow removal, you pay the taxes, you pay the insurance, you pay the plumbing problems. Everything sounds like a pretty damn good deal for a landlord. It is. So we love being an industrial landlord because our tenants pay everything. So, you know, it's it's the best kept secret. That's not a secret is an industrial is a fantastic asset class.00:20:39:01 - 00:21:09:23UnknownBut the reason that it's difficult is because individuals are afraid to invest in either a 100% occupied or a 100% vacant building. That's why so many syndicators do multifamily, as opposed to what I imagine the acquisition strategy is going to be a little bit different in in in industrial versus multifamily. So if I was if I were syndicating multifamily, I'm looking for value highest and best, something that's partially occupied probably right.00:21:10:00 - 00:21:26:24UnknownI could go in there, still have some cash flow, fix up some of the places and then increase the cash flow over time and then, you know, stabilize it and then exit in five years or so. What would you it sounds like an industrial. Are you already having the tenant located before you go out and invest? This is first one.00:21:26:24 - 00:21:46:02UnknownAs a personal investor, do you have your tenant located before you go out and buy the industrial building? They're going to lease first because that seems super safe. If that's the case, yeah, I've got a really strange niche. This is the most bizarre thing you ever heard because this is sort of like you're being a a voyeur in someone's conversation about something that really happens.00:21:46:02 - 00:22:17:09UnknownThe background that nobody knows about unless they're wealthy families, own businesses. The reason is Grandpa started the business like I've got a company that makes fruit juice concentrate in two of my buildings in Chicago, right on the Chicago River at Belmont Avenue, very close to Western Avenue now, right here, That's a it's a beautiful location on the river where one day we think the industrial buildings will be torn down and maybe, Yeah, it's going to be all lofts.00:22:17:11 - 00:22:41:08UnknownYeah. Condos overlooking the river with a water feature. Right. I actually had a lot of listings at 2911 Northwestern, and that's like the only loft building on the river. I know exactly what you're talking about. It's such a beautiful location, and the tenant's been there since the 1990s. But let me explain what happens. Grandpa was in the fruit juice business in Melrose Park with his brother.00:22:41:10 - 00:23:15:11UnknownThe brothers had a fight, so they sold the business to get rid of each other. And Grandpa went and started a new business doing the same thing that he knew how to do, which was make fruit juice concentrate. The first company was called home Juice Company, very big company, and they're still around. But this family sold it. The grandpa and the son and the daughters started a new fruit juice company in Chicago near where they lived and built it up in a nine years.00:23:15:11 - 00:23:43:06UnknownThey sold it to the Rockefeller and the Mellon family that had a private equity group out of New York. So they sold that for millions of dollars. But the building was still there and the family still owned the building and the private equity company didn't want the real estate. They hate real estate. They only like operating companies that they can throw some fairy dust and fix them up and hire some people and make some profits and then sell it again.00:23:43:08 - 00:24:18:09UnknownSo this private equity group bought it from Grandpa and the kids. And what happened next was even more fascinating. The company that bought their company sold their company to a group called Hutchins, which is a conglomerate that owns 400 stores and seven companies. But who's the landlord? The family is still the landlord. So grandpa dies. Now it's the widowed wife, smart, and the three kids and they want to get rid of the building and get rid of each other.00:24:18:10 - 00:24:48:11UnknownThey no longer want to be tied together after all these years. So I find families that used to own the business, that now own the building where the tenant who's in there is the company that they started and don't own. Wow. It's a crazy niche. Yeah, I'm buying a building right now from a family who started a business that makes telephone emergency telephone posts.00:24:48:13 - 00:25:13:16UnknownYou ever go and university campuses and garages? Yeah, Like the little yellow phone. Yeah. So it's called Top of phone. It was started by Grandpa. The kids never went into business. Grandpa had a partner. The partner had no kids in the business. So the two older guys in their seventies and eighties sold the business to a private equity group.00:25:13:22 - 00:25:40:09UnknownAnd now the family's on the property and they want to get rid of it and no longer be partners with each other. So let me ask you a question on that. That's interesting and I just want you guys listening. Just the principle he just outlined will apply to anything. It's not just like industrial, like, you know, he's developed a niche and I'm guessing you developed that type of you figured out who that avatar was probably after you bought your fifth or eighth building or something, you're probably like, Wait, hold on a second.00:25:40:09 - 00:25:55:08UnknownLike, you're realizing that, right? And it's no differently for you guys. Like look at your own last five closings. You had your last five listings. Where are they coming from? Because people don't double down ever. They never focus in because we're like squirrels, right? Everybody just goes. We cast a wide net because we think we should be relating to everybody.00:25:55:08 - 00:26:19:00UnknownBut the riches are always in the niches, aren't they? Yeah. And Chicago, because we've got 1.5 billion square feet. It's a gigantic market. Yeah, it's, it's centralized. So we have, you know, we have rail, we have highways running everywhere. So it's in the middle of the country. So every industrial company has to be here and wants to be here in Chicago.00:26:19:02 - 00:26:47:06UnknownAnd so our niches laser focus only on Chicago, knowing the market inside out, knowing the tenants, knowing the building owners and knowing all the industrial brokers. There's 300 industrial brokers in the Chicago area. And that's a lot. That's a lot. And all of them are experts and most of them are fantastic. And so they give us all of our data, our information, because they're in the market every single day.00:26:47:06 - 00:27:27:14UnknownSo we talk to the brokers every day. And what we do that's really bizarre is we buy these buildings all cash and no mortgage. So it's it's different. You syndicate every building you purchase. Is everything always syndicated? Are you buying up your own funds now? Yeah. Yeah. And three out of every four are no debt. And the reason that we do no debt is because I've been through the cycles and right now I have friends who are being so badly hurt by what's happened with interest rates at some floating rate debt and they have locked in rates yet and now the rates are super high and tenants during COVID, if it was not an A00:27:27:14 - 00:27:47:12Unknownproperty, if it was a B minus or a C property, tenants couldn't pay and then they told their neighbors they weren't paying and then the neighbors didn't pay rent. And so then 20% of all the tenants are paying rent, plus rents aren't going up, plus the mortgage doesn't make sense and it comes up for refinancing and so debt kills.00:27:47:12 - 00:28:12:23UnknownBut listen, there's two things about debt. Either you become rich because you use debt when your timing's good, when rates are low and when cap rates keep going down. But when cap rates go up, interest rates go up, Refinancing difficult. Having debt can be you know, I say debt of debt is death. Debt is death when things go against you.00:28:13:00 - 00:28:34:07UnknownHowever, when it goes for you and in it, you happen to be in a lucky period where debt works, you get rich. So like look at the rate which are 2% in the last market. If you got it, would you do it at a 2% rate? No, I would not go cash. What would be your look? What are the costs of maintenance for an industrial building?00:28:34:07 - 00:28:59:07UnknownLike if you have a debt free, what's your what's your liability there? What's your exposure. Ten. It pays at all. Yeah. So is there any is there any. So you don't really care like it doesn't matter that the market could crash tomorrow and you're still insulated. I right now I'm feeling so comfortable that we we may be stupid because we can't get rich, but my investors are the kind of people who don't want to lose their money.00:28:59:07 - 00:29:20:07UnknownThey've already made a lot a lot of these family businesses that have sold that. I buy buildings from there. The same kind of families that invest with me. The members are already wealthy because grandpa started a company and the son came in and ran it and sold it for $300 million. And now to them, a small investment is 2 million or 3 million.00:29:20:07 - 00:29:45:23UnknownSo I have our minimum investments, 25,000, because not everybody is that rich. But we we really have a a network of wealthy people who love our stuff because there's no debt and they feel safe. Yeah. But they also know that if they want to gamble, they can go to other people. Someone who's in multifamily with a lot of debt can make a lot of money.00:29:45:23 - 00:30:07:24UnknownSo so I'm not saying and everybody should put all their money in something that has no debt, that's industrial, that's got a higher risk profile when when a tenant leaves. But most tenants do stay for an average of 18 years in our buildings. What's a year is this? This is long term hold. You have like a five year exit strategy or anything like this, or you want to hold these and you want hold these forever.00:30:07:24 - 00:30:26:24UnknownAnd this is just mailbox money. Yeah. And if someone wants to get their money back, I have enough investors that I introduce party to party B and I have them talk to each other and one buys the other one out. We do that about, you know, three or four times a year. Someone calls me and says, Hey, Joel, I need my money.00:30:27:01 - 00:30:49:00UnknownI'm here in California. I've got a son who's struggling and I need to buy him a condo because I'll never have a job. And, you know, I need to get my million out. So I introduce Jim in California to Steve in Boston. And Steve says, I know it's worth a million, but I only pay you 900,000 for your investment.00:30:49:02 - 00:31:11:16UnknownAnd so Jim says, okay, make it 950. So that's called rule 144. From a security standpoint, it's not selling securities because I'm not offering it to the public. It's when one party buys out another party. And so rule 144 is how people get out. But when they get in, I tell them this we're long term holders for a good reason.00:31:11:18 - 00:31:30:07UnknownThe rent goes up every year, the tenants stay. And how do you replace when we find a great building like the the Tampico fruit juice building on the river, how are we going to find a better building than that? Why would you got a lot of money and you have an exit strategy too. So you're right. Someone in that location will eventually pay.00:31:30:07 - 00:31:51:24UnknownI need the developers in the condos. Yeah, and you could review it at the time. You know, it's an option. We have a seven year lease with Tampico, so they're there for seven years from the purchase and there's one next question. What's a typical what kind of lease terms are favorable in this when you when you especially out an acquisition like and you have a new tenant coming in, what is the standard like?00:31:51:24 - 00:32:12:04UnknownWhat's the what do you typically look at for something like that in terms of what lease terms like time, length of lease, specifically, our average lease is seven years, a new lease with a new tenant. The seven years when we buy a property, sometimes we get three or four years that are left on an a longer lease that's already burned up a little bit.00:32:12:06 - 00:32:31:07UnknownSo the risk is the tenant. The risk is look is analyzing the tenant and accepting the right one, because if they go out of business and it's manufacturing, I'm trying to get them the hell out of there. yeah. And I have I have nightmare stories that I get about getting rid of tenants. And you'd be surprised at who the bad tenants are.00:32:31:09 - 00:32:47:21UnknownThe worst tenants are the automotive guys. They're they're tough guys. They have to be because people don't trust them. Hey, you're telling me something's wrong with my car or my truck and it's not really wrong and you're lying to me. And then they charge them a lot and then they don't want to pay them and they have to wait to get paid.00:32:47:23 - 00:33:27:03UnknownSo the automotive guys are the most difficult. And actually, of the five tenants that I've ever evicted out of hundreds and hundreds of tenants, three were auto guys repair either body shop or repair guys. One guy right now was not paying rent. I love the guy. He's a great guy, but he does custom painting wheels. Like if you buy a really fancy BMW that's all souped up, you might want the the wheels, which are really nice too, to be like a metallic blue, right?00:33:27:04 - 00:33:41:05UnknownYeah. So he does the painting of those wheels. And I talked to him this morning and I said, Look, you've got to get out of the building. You owe me three months of rent. And I said to my son, I work with my son and I have them come over to your house and paint all your damn wheels.00:33:41:07 - 00:34:00:07UnknownNo, no, he is right. 7000 a month. It's a little building. His rent, 7000 a month. Plus he pays the insurance, taxes, the maintenance. He hasn't paid anything for three months. So this morning I was on the phone with them and I said, You got to get out of the building. We're going to evict you. He says, okay, okay, I'll pay.00:34:00:07 - 00:34:15:10UnknownI'll pay. Hey, you know, we had to get tough. We don't do that. We are really good to our tenants. Yeah, but he hasn't paid rent for three months. I have to take a stand. So just a final question in that scenario, because there's no debt on the building, who cares? You know, there's no risk like the investors might not.00:34:15:10 - 00:34:36:02UnknownI mean, there I mean, you obviously care, but there's not like, holy crap, we're losing $20,000. Are you just not generating cash flow? No, actually, it's worse. How do you know? I guess because he's supposed to be paying the taxes, insurance and maintenance. God. And consider those. Right? So the building's a little tiny building. It's 10,000 square feet.00:34:36:04 - 00:35:01:24UnknownThe taxes, insurance and maintenance all together. All of that is it's probably $40,000 a year, which is four bucks a foot. But that's $3,000 plus per month. So he owes 9000 in expenses that we have to pay. If he doesn't pay it, plus the rent that we don't get, you know, thank God we don't have a mortgage and nobody to our neck because banks have no sense of humor.00:35:01:24 - 00:35:19:08UnknownYou have to pay them right at a mortgage. We we'd be gone. my God, How are we going to pay the mortgage? The guy's not paying the rent. But here's what's happening. I told the investors that we have a projected return of 10% on their money. So if someone puts in 100 grand, they're going to get ten grand a year.00:35:19:14 - 00:35:40:09UnknownWe pay it quarterly, so they get 2500 a quarter. And I had to explain to them at the end of the year, this past year, why they didn't get their distribution at the full amount. And so how long is this going to happen, Joel? I mean, I put 100 grand with you so I could make the 10,000 a year.00:35:40:15 - 00:36:04:20UnknownYeah, didn't make 5000 this year. And by the way and to, to release it, I have to pay a brokerage commission probably to an industrial real estate broker who brings a new tenant. Chances are I have to do a paint job in the office, maybe carpet the office and any little things. And by the way, they may ask for a month or two of free rent is a concession to sign a five year lease and say it's going to take me time to get set.00:36:04:20 - 00:36:23:08UnknownI need some free rent. So retesting is expensive and not collecting is bad. But can you imagine how awful it would be if we had a mortgage? Yeah, that would get ugly. Do you always. Why do you locate the tenant first, or would you buy something with an existing tenant in there and let's say their leases up in two years?00:36:23:10 - 00:36:46:08UnknownWe do all of that. All that we bought buildings with one year left, with two years left, with five years left with seven. My preference is to buy a building that's got five or seven years left. It gives us a lot of time to do a lot of things. Sure, Yeah. Very interesting, Joel. I like it. Any other.00:36:46:09 - 00:37:15:11UnknownWhat would you tell someone listening right now? Just sort of thinking about, you know, maybe they're looking at there's a lot of people making career shift within real estate right now. I think you sort of made a good claim, at least a good pitch for the industrial industry here today. Yeah. Yeah. The other thing I'd like to say is that I love real estate, and in 42 years of career in real estate, I have been so lucky to build these relationships with investors and tenants.00:37:15:13 - 00:37:38:21UnknownIt's all about the relationships and that's really the main thing. And I've heard you say that. I've heard you say that. I've listened to you say that that is your main thing. Yes. It's agree with it and it makes sense. And I'm completely on board with all that matters, is taking care of your people and making sure that you care about what's the old saying is Dale Carnegie, Nobody cares how much you know until they know how much you care.00:37:38:23 - 00:37:59:24UnknownYeah, all of that. Good way to end it. That's right. It doesn't. And this is a relationships and anything in life. I mean, I can't tell you without relationships. There's nothing there. And speaking of relationships, for these guys who are listening, you need to check out my new software referral suite, because that's all it does. It helps you manage, nurture and stay in front of those relationships so they stop forgetting who the hell you are.00:38:00:01 - 00:38:14:03UnknownBecause regardless of what business you're in, you have to maintain those relationships. So nobody hires the person they don't feel comfortable with. Everyone hires the person that they're recommended to they know personally or that they've used in the past. And if they are a stranger and they don't know that person, trust me, they're doing a little bit of recon on you.00:38:14:08 - 00:38:30:13UnknownThey're looking online and they're asking people about you so called lead generation, at least in the real estate business. It's so highly relationship based. It's a big investment. So people can do that with someone they know they can trust. Awesome. Dude, I appreciate you having coming on the show. Love having fellow Chicago people on and thanks for sharing your insights.00:38:30:13 - 00:38:47:12UnknownI'm going to actually check out a lot more industrial stuff. You open my eyes are to a lot of different ways to look at that and look at it from this point of view. But you opened my eyes in a different light. So I appreciate that. Thanks for listening. I will see you guys next week and another episode of See you then and A's.00:38:47:15 - 00:39:11:13UnknownThank you for watching another episode of the Real Estate Marketing Do Podcast. If you need help with video or finding out what your brand is. Visit our website at WW W dot Real Estate marketing do dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace.00:39:11:17 - 00:39:14:12UnknownThanks for watching. Another episode of the podcast will see you next at.
In this episode of The Very Real Estate Effect, Axel Monsaingeon dives deep into the world of industrial real estate with Joel Friedland, founder of Brit Properties. Joel's journey from an accidental entry into real estate to founding a successful real estate syndication firm is a captivating story of mentorship and seizing opportunities. Joel's emphasis on capital preservation shines through as he shares his strategy of all-cash deals and the importance of minimizing risk in real estate investments. The conversation delves into the complexities of lease terms, tenant negotiations, and the potential for rent increases, providing valuable insights for investors. Gain a unique perspective on industrial real estate and its challenges and rewards, as Axel and Joel explore the nuances of this asset class. From due diligence to subject-to-lease purchases, this episode offers a wealth of knowledge for both novice and experienced real estate enthusiasts. Tune in for an engaging discussion that uncovers the secrets of success in industrial real estate and leaves you eager to explore this dynamic field further. Don't miss this episode packed with insights and expertise from a seasoned industry pro. What you'll learn from this episode: Joel Friedland's journey into real estate and entrepreneurship. The vital role of mentorship in Joel's career. Strategies for capital preservation and risk mitigation in real estate. Insights into the complexities and opportunities in industrial real estate. Negotiation techniques that impact investment returns. The due diligence process and subject-to-lease purchases in acquiring industrial properties. Access to valuable real estate education resources on Brit Properties' website. SUPPORT US ON PATREON! patreon.com/realestateeffect and become a part of our real estate family! You'll get access to exclusive content, monthly virtual meetings [Ask me anything!], special events and more! And please subscribe to the show, share it with a friend and send us feedback. Visit www.realestateeffect.ca and follow me on IG @monsaxel Timestamps
Join co-hosts Richard Coyne & Bill Zahller as they interview guests who left successful careers to pursue a different path on the Road Less Traveled Show! In this episode, we spend time with Joel Friedland! Joel is a commercial Real Estate broker that specializes in industrial space. After working as a broker for several years, Joel realized that the path to wealth in not just making a commission on a sale but by being the actual owner of the property. Since then, Joel has acquired many industrial properties and does so often without debt. A bit more about Joel: Joel has a 42-year track record in industrial real estate. Joel co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. Joel's group sold the firm to an international real estate company in 2014 and Joel started Brit Properties. As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales, totaling over $2 billion in brokerage volume and $250 million in acquisitions. Joel's greatest accomplishment is maintaining valued relationships with brokers, tenants, and investors spanning five decades. Joel does fully syndicated deals, often with 0% debt, an unheard-of approach in real estate that caters to his wealthy investor base primarily concerned with the conservation of principal. Joel's experiences during the Great Recession in 2008 shaped his investment approach to be hyper-conservative while still allowing an ~8% cash return, plus upside, for his investors. Joel attended the University of Michigan. He enjoys playing golf and spending time with his family, particularly his 3 young grandchildren. Contact Joel: Email: joel@britproperties.com Website: britproperties.com LinkedIn: linkedin.com/in/joel-friedland-sior-5508a791/ Contact Bill Zahller Phone: 828-275-5035 Email: Bill@ParkCapitalPartnersLLC.com LinkedIn: linkedin.com/in/billzahller Contact Richard Coyne Phone: 404-245-9732 Email: Richard@ParkCapitalPartnersLLC.com LinkedIn: linkedin.com/in/richardjcoyne If you would like to learn more about: How Park Capital Partners connects investors with passive income-generating opportunities through real estate, Our Park Capital Value-Add Fund (a 506c fund), Our latest multifamily acquisitions, or The Park Capital Partners Foundation, Inc. (a 501(c)3 non-profit). Please contact Park Capital Partners LLC in the following ways: Website: ParkCapitalPartnersLLC.com Email us: info@ParkCapitalPartnersLLC.com Facebook: https://www.facebook.com/ParkCapitalPartners/ Linkedin: https://www.linkedin.com/company/park-capital-partners-llc/ Music by Aliaksei Yukhnevich/Jamendo. Audio and Video Production by Kerry Webb of KLAW Machine Media. If you would like to be a guest on our show and have a “path change” story, please reach out to Richard at Richard@ParkCapitalPartnersLLC.com. We would love to chat with you!
The 2008 real estate crash significantly impacted investors of all types. For some, it completely changed how they approach real estate investing, leading to a more mindful and methodical strategy. On this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Joel Friedland, the co-founder of Brit Properties in Des Plaines, Illinois. Joel is an industrial real estate broker and has secured over 2,000 industrial property leases and sales totaling more than $250 million in acquisitions. He has over four decades of experience with industrial real estate. Jonathan and Joel begin their conversation by exploring Joel's early exposure to real estate and how he ultimately landed in real estate after college. You'll hear why he chose industrial assets instead of residential or commercial, what led him to his mindful approach to investing, and why he pays cash for his investment properties. Joel explains how he combats the urge to jump on a good deal before doing his due diligence, how the usage of industrial properties has changed over the past few decades, the importance of self-awareness, honesty, and mental health as an investor, and the versatility of this particular asset class. Whether you're already an experienced investor or a new one looking for the right assets to add to your portfolio, Joel's incredible breadth of knowledge about industrial property could help you decide if this is the one you've been looking for. In this episode, you will hear: Joel Friedland's take on the current state of industrial real estate The impact Bob Vila's show “This Old House” had on Joel's interest in real estate and how he ultimately landed in industrial real estate His experience during the 2008 real estate crash and why he believes real estate investors can become compulsive gamblers unknowingly Joel's mindful approach to shifting his approach to investing, including meditation, therapy, and a 12-step recovery program The difficulties of paying cash for your properties and why it impedes him from becoming a collector The dopamine hit that drives a gambling addict Combatting the urge to jump on what looks like a good deal on the surface with due diligence Why cash purchases will never produce as good of an internal rate of return (IRR) as a leveraged property The changes in the use of industrial properties over the past few decades Placing priority on relationships, especially with investors Joel's advice for investors interested in switching from residential to industrial and the biggest risk they face The importance of self-awareness, honesty, and mental health in real estate Industrial real estate's versatility and cost compared to other asset classes The increasing use of industrial property as a shift away from retail storefronts occurs Joel Friedland's advice for investors who want to pursue industrial real estate Follow and Review: We'd love for you to follow us if you haven't yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at http://www.trustgreene.com/podcast/zen/103 to download it. Supporting Resources: Brit Properties website - britproperties.com Brit Properties on YouTube - www.youtube.com/@britproperties Find Joel Friedland on Instagram - www.instagram.com/investingwithjoel Brit Properties on LinkedIn - www.linkedin.com/company/brit-properties Connect with Joel on LinkedIn - www.linkedin.com/in/joel-friedland-sior-5508a791 Website - www.streamlined.properties YouTube - www.youtube.com/c/JonathanGreeneRE/videos Instagram - www.instagram.com/trustgreene Instagram - www.instagram.com/streamlinedproperties TikTok - www.tiktok.com/@trustgreene Zillow - https://www.zillow.com/profile/StreamlinedReal Bigger Pockets - www.biggerpockets.com/users/TrustGreene Facebook - www.facebook.com/streamlinedproperties Email - info@streamlined.properties Episode Credits: If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.
In this episode of the AIA podcast, host Alex Perny welcomes Joel Friedland, Principal of Brit Properties, to discuss how to invest in industrial real estate with little to no debt. Subscribe to our YouTube channel and join our growing community for new videos every week. If you are interested in being a podcast guest speaker or have questions, contact us at Podcast@AdvantaIRA.com. Learn more about Advanta IRA: https://www.AdvantaIRA.com/ The Alternative Investing Advantage is brought to you by Advanta IRA. Advanta IRA does not offer investment, tax, or legal advice nor do we endorse any products, investments, or companies that offer such advice and/or investments. This includes any investments promoted or discussed during the podcast as neither Advanta IRA nor its employees, have reviewed or vetted any investments, persons, or companies that may discuss their services during this podcast. All parties are strongly encouraged to perform their own due diligence and consult with the appropriate professional(s) before entering into any type of investment.
With over 42 years in industrial real estate, what key lessons has Joel learned about building trust and mitigating risk when the market inevitability shifts? In this episode, veteran industrial real estate professional Joel Friedland shares his decades of wisdom, including how to build trustworthiness with investors, properly assess risk tolerance, and create win-win relationships built to last. With over 2,000 industrial real estate deals under his belt and experience across four major market cycles, Joel provides a unique historical perspective on industrial investing. Joel has a 42 year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014 and Joel started Brit Properties. As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales, totaling over $250 million in acquisitions. His greatest accomplishment is maintaining valued relationships with brokers, tenants and investors spanning five decades. He does fully syndicated deals with 0% debt, an unheard-of approach in real estate which caters to his wealthy investor base primarily concerned with conservation of principal. His experiences during the Great Recession in 2008 have informed his investment approach to be hyper-conservative while still allowing an ~8% cash return, plus upside, for his investors. (00:01 - 00:07) Gaining Investor Trust Through Vulnerability Start by openly discussing past mistakes and failures Highlight previous market downturns and how you worked through them Ask investors insightful questions rather than selling (00:07 - 00:13) Mitigating Downside Risk Before Issues Arise Minimize debt exposure whenever possible Conduct comprehensive due diligence on all aspects of a property (00:13 - 00:19) Assessing Risk Tolerance in Shifting Markets Many new investors aren't prepared for decreasing tenant demand It's vital that sponsors properly gauge their own and investors' risk appetites (00:19 - 00:25) Ensuring Alignment Through Shared Experiences Look for operators who show appropriate judgment given market conditions There are no shortcuts for experience; seek out veteran perspectives (00:25 - 00:31) Cultivating Meaningful Relationships for the Long-Term Property investment facilitates rich personal connections Focus on win-win relationships with tenants, partners, and community Book recommendation: Who inspires Joel? : His 96-year-old business partner and friend. Quotes: "How do you trust somebody? They start with their vulnerability." -Joel Friedland "Keep your loved ones close and don't get into fights and wars with people. It's just not worth it." - Joel Friedland Connect with Joel: Website: https://britproperties.com/ Apply to Invest with Taylor at www.investwithtaylor.com Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com Please leave a review and help others escape Wall Street and build wealth on Main Street!
Joel has a 42 year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014 and Joel started Brit Properties. As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales, totaling over $2 billion in brokerage volume and $250 million in acquisitions. His greatest accomplishment is maintaining valued relationships with brokers, tenants and investors spanning five decades. He does fully syndicated deals, often with 0% debt, an unheard of approach in real estate which caters to his wealthy investor base primarily concerned with conservation of principal. His experiences during the Great Recession in 2008 have informed his investment approach to be hyper-conservative while still allowing an ~8% cash return, plus upside, for his investors. Joel attended the University of Michigan. He enjoys playing golf and spending time with his family, particularly his 3 young grandchildren.
Today, in the fourth installment of our year-end Best of 2023 series, we'll focus on something that will make our host Ash Patel very happy. Industrial real estate. Industrial has risen up the ranks in desirability when it comes to commercial assets in 2023, with flex industrial emerging as a new darling asset class. So we've pulled the best clips from some of the best episodes from 2023 that featured the best industrial (and flex) investing advice ever. In this episode, Faraz Hemani explains why he is expanding from self-storage into flex industrial, Joel Friedland touts Chicago as America's biggest industrial hub, and Neil Wahlgren discusses the benefits and nuances of NNN leases and how investors can pivot from multifamily to industrial. You can listen to the full episodes below. JF3250: Faraz Hemani — 3-Step Formula for Succeeding in Self-Storage, Why Flex Industrial Is the Best-Kept Secret in Real Estate, and How to Compete in a Crowded Self-Storage Industry JF3107: 3 Rules of Industrial Real Estate ft. Joel Friedland JF3075: Investing in Triple-Net Leased Industrial CRE ft. Neil Wahlgren Sponsors BAM Capital
NEW FREE TRAINING VIDEO: https://www.911wealthnetwork.com/training If you have an extra minute, please leave us a review on Apple Podcast and share your thoughts with us. It helps our growth and keeps us going! Reach out to Dave directly: IG: @daveknighter email: dave@911wealthnetwork.com Connect with Joel Friedland: Website: britproperties.com LinkedIn: Brit Properties Facebook: Brit Properties Instagram: investingwithjoel YouTube: Brit Properties
In episode 450, Joel Friedland discusses his experience in industrial real estate brokerage and property syndication in Chicago, where he has lived for 64 years and worked outdoors for 30 years, enduring the city's harsh winters. He emphasizes the importance of finding tenants for vacant buildings during economic downturns and securing large commercial leases for clients to earn upfront commissions. The discussion covers industrial real estate trends, lease renewals, property values, and rents, as well as the benefits and challenges of single-tenant and multi-tenant buildings. Joel also shares insights into real estate investing, capital raising, and strategies for high-net-worth individuals, highlighting the value of frugality and unexpected opportunities in building wealth. britproperties.com • Industrial real estate brokerage and property syndication in Chicago. 0:00 • Industrial real estate trends and lease renewals. 6:24 • Real estate investing and property management. 10:48 • Real estate investing and expansion strategies. 14:02 • Industrial building benefits and challenges. 18:11 • Industrial real estate investing and capital raising. 22:42 • Investment strategies for high net worth individuals. 26:33 Text
Meet Joel Friedland, a 42-year veteran in industrial real estate. Co-founder of Epic/Savage Realty Partners, Joel oversaw its growth and eventual acquisition in 2014, leading to the founding of Brit Properties. As an industrial real estate broker, Joel has secured 2,000+ property deals totaling $250 million. His unique approach involves fully syndicated, debt-free deals, delivering an ~8% cash return plus upside for investors. Shaped by experiences in the 2008 recession, Joel maintains a hyper-conservative yet lucrative investment strategy. A University of Michigan alum and avid golfer, Joel balances professional success with family time, cherishing moments with his three young grandchildren. Joel's enduring relationships and innovative strategies exemplify excellence in industrial real estate. To get in contact with Gino, reach out to him here: joel@britproperties.com Instagram: @investingwithjoel YouTube: @britproperties LinkedIn: Brit Properties Keeping it Real Estate is brought to you by Granite Towers Equity Group, helping investors create passive income through multifamily real estate. To get in touch with the founders of Granite Towers, Mike Roeder and Dan Brisse, visit https://www.granitetowersequitygroup.com/contact
Get ready to dive into the world of industrial real estate as we sit down with the extraordinary Joel Friedland. In this captivating episode, Joel takes us on a fascinating journey, revealing his personal experiences and unconventional strategies that have propelled him to success in the industry. Brace yourself for eye-opening insights and compelling stories that will reshape your perspective on real estate investing.First, Joel shares his extensive background in industrial real estate and the remarkable approach he takes when buying properties and syndicating them, all without borrowing money. Discover how he has cracked the code to unlock success in this competitive market, shedding light on the importance of vulnerability and humility to build trust with investors. Unravel powerful strategies that have proven effective time and time again and explore the current state of the industrial real estate market, its relationship with the rise of online shopping, and the crucial role banks play in steering the course of investors. Tune in to hear Joel's latest real estate deal, the value of the properties involved, and how he builds strong and lasting relationships with investors through mentorship. This episode is a goldmine of knowledge for both aspiring and experienced real estate investors, so grab your notepad and get ready to take your investing game to the next level!Remember, this is your MBA. Have a notepad handy, and get ready to take some notes!The education we provide is sponsored by Lehigh Valley Fund. The fund earns returns through real estate investing and pays inventors an average 10% return with a 12 - 18% target* Apply Here: https://www.lvpefund.com/questionnaireBook Fund Manager, Tejas Gosai: https://www.lvpefund.com/invest
My guest today has over 42 years of experience in industrial real estate, and the lessons he's learned during that period are very timely in today's high-interest rate environment. His experiences especially during the Great Recession have informed his investment approach to be hyper-conservative. Joel Friedland has secured over 2,000 industrial property leases and sales, totaling over $250 million in acquisitions. He's raised over $150 million in private capital, and most impressively, he structures most of his syndications without any debt. Today Joel reveals the secrets to his successful industrial portfolio, shares the difficulty he went through during the Great Recession, and discusses the lessons he learned that led him to buy properties with little to no debt. Find out more: Email: joel@britproperties.com Website: britproperties.com Instagram: @investingwithjoel YouTube: @britproperties LinkedIn: Brit Properties Today's episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area. https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and Medicare benefits. https://www.rcbassociatesllc.com
What happens when you lose everything?In this episode of The Real Estate Mindset podcast, we chat with Joel Friedland about property acquisition, syndication, and the art of building equity for long-term wealth. By delving into the concept of real estate syndication, we highlight the key roles of low debt and high equity in successful investments. From understanding how to maintain a low loan-to-value ratio to navigating the shifting landscape of securities laws around syndication advertising, we cover it all in this episode. Lastly, we also talk about the power of relationships and the importance of asking the right questions. What we discuss: (00:03) - Real Estate Career and Property Acquisitions(12:34) - Debt, Equity, and Real Estate Syndication(21:40) - Real Estate Due Diligence Importance(32:37) - Building Trust in Real Estate Investing(45:03) - Clear Expectations and Great Real EstateTo learn more about Joel:Website: https://britproperties.com/
In today's episode, we chat about industrial real estate investments, featuring insights from expert Joel Friedland, SIOR. Tune in to uncover valuable tips for assessing properties, strategic leasing, and achieving exponential gains. Tap into the potential of industrial real estate right now. Key takeaways to listen for Why showing up is important to succeed in real estate How to underwrite industrial RE leases for bigger returns Qualities aspiring industrial brokers must possess Why it's better to keep industrial properties rather than flip them Advantages of knowing your local market when investing in industrial RE Resources CoStar SIOR The Four Agreements by Don Miguel Ruiz and Janet Mills | Kindle, Paperback, and Hardcover About Joel Friedland, SIOR Joel is an accomplished real estate professional with over a 40-year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991, overseeing the hiring and mentoring of 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014. Joel started Brit Properties, overseeing leasing, sales, and asset management for numerous property investments for investors, including individual investors, trusts, and families. Connect with Joel Website: Brit Properties LinkedIn: Joel Friedland, SIOR Connect with Us Ready to level up your real estate game? Take action now to access exclusive resources, live events, and valuable insights from our experts: 1. BOOK A CALL: Visit our website at www.sendmoreoffers.com to book a call today. Our team of real estate professionals is ready to provide personalized guidance and help you achieve your investment goals. 2. JOIN OUR FREE FACEBOOK GROUP: Don't miss out on exclusive live events, networking opportunities, and valuable discussions. Simply search for "Send More Offers" on Facebook and hit the "Join" button. www.facebook.com/groups/sendmoreoffers 3. SUBSCRIBE TO OUR YOUTUBE CHANNEL: Gain access to full video interviews, expert tips, and in-depth analyses by subscribing to our dynamic YouTube channel. Stay up to date with the latest trends and strategies in real estate investing. Subscribe now at https://www.youtube.com/@sendmoreoffers 4. FOLLOW US ON INSTAGRAM & TIKTOK: Stay connected and motivated by following us Socially! Get daily doses of inspiration, success stories, and valuable insights by following @sendmoreoffers. Join our community and be part of the conversation! Remember, success in real estate investing starts with taking action. Visit our website, join our Facebook group, subscribe to our YouTube channel, and follow us on Instagram today. Let's achieve your real estate goals together!
Absorb tons of substantial insights in this episode featuring one of the experts in industrial real estate, Joel Friedland. With his over 40 years of experience in the industrial sector of the business, you'll learn how powerful and competent it is to invest in this asset class, the critical aspects of raising capital and evaluating tenants, and how to stay resilient in a dynamic and volatile market.Whether you're an investor or a syndicator, this is a discussion you shouldn't miss!Key Points & Relevant TopicsIndustrial real estate: What it is and how syndication and deals work in this asset classThe biggest risk in any type of real estate dealsHow difficult is it to raise capital for an industrial real estate deal?5 most important things to consider when raising money for an industrial deal5 things to look for to effectively evaluate tenants for industrial propertiesThe future of industrial real estate in the coming yearsWhy transparency and communication are important between syndicators and syndicatorsResources & LinksShark TankRain ManWe Want You to Learn About What's “WRONG” With Our Offerings! Society of Industrial and Office REALTORS® (SIOR)Apartment Syndication Due Diligence Checklist for Passive InvestorAbout Joel Friedland, SIORJoel's story is genuinely remarkable. He began his entrepreneurial journey at the age of 14, running a landscaping business where he convinced 70 families in one weekend to allow him to manage their landscaping, and hired 40 other high school and junior high students to manage the workload. Eventually, he started his own brokerage firm which grew to manage over twenty brokers. Over the last 40 years, Joel has been involved in nearly 100 acquisitions, totaling around 3 million square feet, and has raised over $150 million in private capital. Today, he focuses on low risk, cash-flow centric investments and manages an industrial portfolio of 18 buildings. Get in Touch with JoelWebsite: Brit PropertiesTo Connect With UsPlease visit our website www.bonavestcapital.com and click here to leave a rating and written review!
Joel Friedland is a professional in the industrial real estate sector. His expertise lies in the unique nature of industrial properties, which he distinguishes from commercial real estate. He emphasizes that industrial properties are their own asset class, separate from office and retail buildings. With a focus on manufacturing and distribution, Joel Friedland understands the importance of features like truck docks and ample space for workers to produce and package goods. His insights into the industrial real estate market make him a valuable resource in the industry.Connect with Joel Friedland at https://britproperties.com/Topics & Bullets:Importance of Mentorship and Personal GrowthFinding a great mentor for personal and professional growthTransition from being impulsive and aggressive to mature and experienced in handling business relationshipsMentoring relationship with Milt PodolskiAdvice to his younger self about assessing risks and self-awareness in businessBusiness Partnerships and Conflict ManagementChallenges in dealing with partnership conflicts in family businesses and real estate venturesImportance of tolerance, acceptance, and cautious partnership evaluationUsing analogies such as jazz music and sports to illustrate handling conflicts and problems in business dealingsValue of delegating tasks to individuals with expertise and not being a control freak in business operationsReal Estate Investment StrategiesUnique business model of all-cash, no-debt deals in real estateSuccess of all-cash deals in appealing to a specific market segmentNavigating challenges during the 2008 recession through open communication with investors and tenantsRisks and cautious approach in industrial property business, especially the impact of vacancies and the all-cash approach in their dealsDecision Making and Business Operations3-part decision-making process involving a mindset of Wait, an 8-person advisory board, and journaling for thoughtful decision-makingImportance of communication during challenging times and cautious partnership evaluation Consultation with a spouse in business decisionsReal Estate Expertise and Industry AssociationsSpecialization in industrial real estate as a member of the Society of Industrial and Office RealtorsDistinction between industrial real estate and commercial real estateTransition from property management to brokerage in industrial real estateBooks and RecommendationsRecommendation of "The Four Agreements" bookDiscussion of real estate investment myths and recommended booksEmphasis on starting with an awkward conversation or it will end with onePodcast Discussion and ReflectionRelationship dynamics between Jack and Joel Friedland in the podcastExpression of interest in returning to the podcast by Joel FriedlandJack's personal growth and reflections on giving immediate answersBusiness Operations and Investment OpportunitiesPrivate placement memorandum and current opportunity for raising capitalFocus on fix and flips in the housing market and the shift towards first-time homebuyers Joel Friedland's industrial real estate investment strategy and raising capital opportunityEvolution and Growth in Business OperationsGrowth from being impulsive and aggressive to being more...
Join Joel Friedland as he unveils the blueprint for constructing an all-weather real estate portfolio. With a remarkable 42-year record of accomplishment in industrial real estate, Joel co-founded Epic/Savage Realty Partners, mentoring and leading 60 professionals. Having overseen over $250 million in acquisitions, Joel's approach involves fully syndicated deals with 0% debt, a rarity in real estate. Through Brit Properties, he prioritizes conserving principal while ensuring an ~8% cash return and potential upside for his investors. Learn from Joel's wealth of experience and hyper-conservative strategy in navigating the ever-changing landscape of real estate investing. HIGHLIGHTS FROM THE EPISODE 02:15 - How Joel got started in real estate 04:50 - Industrial real estate asset class 09:02 - The biggest contribution to his success 14:09 - Real estate strategies 17:48 - Living true to yourself 20:55 - Long term performance 25:28 - Contact Joel CONNECT WITH THE GUEST Website: https://britproperties.com/ CONNECT WITH THE HOST Website- https://upstreaminvestor.com/ Facebook- https://www.facebook.com/TwoSmartAssets/ Instagram- https://www.instagram.com/upstreaminv... Twitter- https://twitter.com/twosmartassets LinkedIn- https://www.linkedin.com/company/two-... ----------------------------------------------------------------------------------------------------------------------- Listen, like, subscribe, and comment!
Episode 185 - this week I discuss the industrial property market with Joel Friedland, an expert based out of the Chicago area in the US. What is notable about Joel's approach is that it is done with all cash and zero debt. Why? Listen in and learn along with a ton of other nuggets. I hope you enjoy… Brit Properties - https://britproperties.com/ Joel Friedland - https://www.linkedin.com/in/joel-friedland-sior-5508a791/ *** Work with Gavin as your mentor - https://www.elitepropertyaccelerator.com/coaching Test your investment readiness - https://eliteproperty.scoreapp.com Join my mastermind - https://www.elitepropertyaccelerator.com Join the tribe - https://www.elitepropertyaccelerator.com/stayintouch BTF YouTube channel – https://youtube.com/@BehindTheFacade *** https://www.linkedin.com/in/gavinjgallagher/ https://www.instagram.com/gavinjgallagher/ https://www.tiktok.com/@gavinjgallagher/ https://twitter.com/gavinjgallagher *** #investment #realestateinvesting #propertyinvestment
Episode 185 - this week I discuss the industrial property market with Joel Friedland, an expert based out of the Chicago area in the US. What is notable about Joel's approach is that it is done with all cash and zero debt. Why? Listen in and learn along with a ton of other nuggets. I hope you enjoy… Brit Properties - https://britproperties.com/ Joel Friedland - https://www.linkedin.com/in/joel-friedland-sior-5508a791/ *** Work with Gavin as your mentor - https://www.elitepropertyaccelerator.com/coaching Test your investment readiness - https://eliteproperty.scoreapp.com Join my mastermind - https://www.elitepropertyaccelerator.com Join the tribe - https://www.elitepropertyaccelerator.com/stayintouch BTF YouTube channel – https://youtube.com/@BehindTheFacade *** https://www.linkedin.com/in/gavinjgallagher/ https://www.instagram.com/gavinjgallagher/ https://www.tiktok.com/@gavinjgallagher/ https://twitter.com/gavinjgallagher *** #investment #realestateinvesting #propertyinvestment
Co-Founder of Brit Properties, Joel Friedland joins Joseph to talk about how your mental health determines your success or failure in business. GUEST LINKS BritpProperties.com SUBSCRIBE First100K.com SHREDDED FATHERS™ Shredded Dad: Ripped And Fit After 40™ Do you have a brotherhood of growth-minded men to help you weaponize your body, build mental toughness, and become an epic husband, father, and businessman? Apply at: ShreddedFathers.com Music: Purple-Planet.com
Register for our January, 2024 Academy in Mesa, AZ. Use the code SSAP to save $500.Joel Friedland is an industrial real estate veteran with over 40 years of experience. In this episode Joel shares his insights on the industrial real estate market, explaining how he focuses on B and C industrial buildings, which are older and have lower ceilings than modern warehouses. He discusses the high demand for these types of buildings, particularly from manufacturers, and how he often sells them to users at a premium. Joel also shares his strategy of doing all-cash deals with no mortgages to mitigate risk. WHAT TO LISTEN FOR2:33 Why the workforce is so important in the industrial business5:02 The value of B and C industrial buildings10:22 The impact of the internet on industrial real estate35:06 Joel and Scott share their experiences with development and redevelopment ABOUT JOEL FRIEDLANDJoel's entrepreneurial journey began at 14 when he ran a landscaping business, managing the yards of 70 families and employing 40 students. He later founded a brokerage firm overseeing 20 brokers. Over four decades, Joel has participated in nearly 100 acquisitions, amassing about 3 million square feet and raising over $250 million in private capital. Currently, he manages an 18-building industrial portfolio, emphasizing low-risk, cash-flow-centric investments. CONNECT WITH JOELWebsite CONNECT WITH USWebsite | You Tube | Facebook | X | LinkedIn | InstagramFollow so you never miss a NEW episode! Leave us an honest rating and review on Apple or Spotify.Register for our January 2024 Academy in Mesa, AZ. Use the code SSAP to save $500
EPISODE SUMMARY: We're excited to bring you an insightful conversation with remarkable entrepreneur and seasoned real estate investor, Joel Friedland. Known for his resilience, determination, and business acumen, Joel takes us back to his humble beginnings as a 14-year-old landscaper going door-to-door to his present-day venture in real estate syndication. Immerse yourself in his wisdom as he stresses the importance of good judgment, the power of apology, and the role of mentors in shaping his career path. Buckle up as we navigate the turbulent terrain of real estate investing, with Joel guiding us through the market changes of the past four decades. Learn from his experiences to understand the significance of trust in successful investing and managing inherent risks effectively. Be prepared to be inspired as he candidly shares how being open to opportunities paved the path to his fortune. In the final stretch of our conversation, Joel imparts profound lessons on learning from losses and harnessing the power of resilience in the face of adversity. He emphasizes the importance of a receptive mindset towards opportunities and his mission to enrich others with investment knowledge. To wrap it all up, Dr Jason Ballara engages with real estate investors and mindset specialists, dissecting the motivations that drive high achievers. This episode is a treasure trove of inspiration and practical tips for anyone looking to elevate their professional life. So, grab a notebook and get ready to glean some invaluable insights from our conversation with Joel Friedland! JOEL'S BIO: Joel's story is genuinely remarkable. He began his entrepreneurial journey at the age of 14, running a landscaping business where he convinced 70 families in one weekend to allow him to manage their landscaping, and hired 40 other high school and junior high students to manage the workload. Eventually, he started his own brokerage firm which grew to manage over twenty brokers. Over the last 40 years, Joel has been involved in nearly 100 acquisitions, totaling around 3 million square feet, and has raised over $250 million in private capital. Today, he focuses on low-risk, cash-flow-centric investments and manages an industrial portfolio of 18 buildings. Joel's experience and the lessons he's learned, especially during the Great Recession of 2008, provide a unique perspective on real estate investment. His shift towards conservative (all cash, no mortgage!) investments and a cash-flow-first approach is particularly relevant in today's market. His insights can resonate with your audience, especially those interested in real estate, finance, and prudent investment strategies. GET IN TOUCH WITH JOEL: www.britproperties.com https://www.linkedin.com/company/11769890 EPISODE CHAPTERS: (0:00:01) - Entrepreneur's Journey in Real Estate Syndication Joel recounts his journey as a successful entrepreneur and real estate investor, from starting a landscaping business at 14 to learning from his mentor Milt and becoming a syndicator. (0:13:24) - Shy Kid to Business Owner I overcame shyness to become a successful entrepreneur and real estate investor, learning fundamentals of pitching and leveraging debt. (0:20:36) - Investing in Real Estate and Volatility Joel emphasizes trust, risk mitigation, and caring deeply when investing in real estate. (0:26:37) - Real Estate Investment Joel shares advice on building a successful business, real estate investing, having smart advisors, due diligence, vulnerability, and avoiding shame. (0:35:34) - Real Estate Investment Structure and Strategy Joel emphasizes open opportunities, explains why flipping isn't always best, and shares a story of making a million and a half dollars. (0:41:27) - The Importance of Learning From Losses Joel shares his journey of successful business and real estate investing, emphasizing open-mindedness, judgement, and learning from losses. (0:55:00) - Power of Your Why Podcast Dr. Jason Ballara speaks to real estate investors and mindset specialists to motivate success and build life according to their own terms. If you want to know more about Dr. Jason Balara and the Know your Why Podcast: https://linktr.ee/jasonbalara Audio Track: Back To The Wood by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ Artist: http://audionautix.com/
If you enjoyed this episode, or are enjoying the Scalable REI show overall, show your support by buying the Scalable REI team a cup of coffee: https://www.buymeacoffee.com/scalablereiJoel has 40 year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014 and Joel started Brit Properties.As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales. His greatest accomplishment is maintaining valued relationships spanning five decades.Joel attended the University of Michigan. He enjoys playing golf and spending time with his family in Deerfield.Best Way to Contact Joel:https://britproperties.com/ Helpful Links:https://britproperties.com/ https://www.linkedin.com/company/brit-propertiesBEST CRM THAT WE USE: Looking for the best all-in-one CRM to scale your real estate investing business? Use the link below to sign up today: https://www.gohighlevel.com/main-page?fp_ref=scalable-reiBEST PHONE SYSTEM THAT WE USE: Looking for an optimal online phone system that can forward to your cell phone, directly integrate to your CRM, and be leveraged for your remote virtual assistant team? If so, use this link to save $20 today when you open a new account: https://openph.one/referral/NpnZPxX COFFEE!!! If you feel this episode provided a ton of value, show your support by buying us a cup of coffee: https://www.buymeacoffee.com/scalablereiLET'S DO SOME DEALS!!! Contact Mason to JV/partner on deals or passively invest by either emailing him at mason@scalablerei.comSchedule a call with Mason by using this link here: https://calendly.com/mason-klement/30minFollow Mason on Instagram to learn additional real estate investing tips and tricks: https://www.instagram.com/mason_klement_scalablerei/NOTE: This description might contain affiliate links, which may pay our podcast a commission at absolutely zero cost to you. Any commissions go toward the cost of producing each episode so we really appreciate your support. In addition, depending on the vendor, you actually might even save money by using these links that you wouldn't have access to if you went directly to the vendor's website.
Industrial real estate can generate consistent cash flow for investors, and can also be a significant driver of long term wealth generation. Joel Friedland, principal at Brit Properties, joins Andy Hagans to discuss why this asset class has such enduring appeal for a certain type of investor.
Joel Friedland is an industrial real estate syndicator with over 40 years of experience and nearly 100 acquisitions in the Chicagoland area totaling ~3 million sq ft. On his team are more than 200 investors. Joel brings to us his unique philosophy on debt ratios and preservation of capital.Main Points:2008 recession (How I got into trouble, got out of trouble, and the struggle/journey)Buying assets all-cash, no mortgage (After 2008 I changed my focus to buying assets with no debt for extreme financial safety)Importance of mentorship (I was mentored myself and it was huge advantage. Now I give back by mentoring others)The “User Sale” (selling buildings to users instead of investors for a premium because it's a tool for their business vs. chasing a cap rate).The niche of B/C industrial in Chicago (Why we buy what we buy)How I make major decisions (I have an advisory board of ~8 people who are business or real estate professionals. I don't make any big decision without talking to them first and getting their input).Raising capital (I've raised over $100 million for my various real estate syndications over the years)Connect with Joel Friedland: Contact them at: https://britproperties.com/contact-us/ to learn more about our current offeringsjoel@britproperties.comhttps://www.linkedin.com/company/11769890/https://www.youtube.com/@britproperties4581https://www.facebook.com/profile.php?id=100064703481200
To access a FREE collection of resources, go to www.TheMaverickVault.com In this episode, Joel Friedland delves deep into the lucrative landscape of industrial deals. Stay tuned as he provides helpful insights for navigating this industry, all its benefits and finding profitable assets successfully. Gain the upper hand in this investment market today! Key Takeaways From This Episode The power of personal connections and trust-building in real estate Reasons for choosing project-specific investors Potential challenges of the current real estate market Keys to identifying profitable deals successfully The significance of industrial real estate and its diverse occupants References/Links Mentioned Duty Free Airport Shops Undercover Boss Season 6 Episode 6: EmpireCLS Wonder Years Jim Cramer CrowdStreet Element Bars Custom Energy Bars Update | Shark Tank Season 1 Cozzini Bros Home Depot The Four Agreements by Don Miguel Ruiz | Kindle, Paperback, and Hardcover About Joel Friedland Joel has a 40-year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991, overseeing the hiring and mentoring of 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014, and Joel started Brit Properties. Joel has secured over 2,000 industrial property leases and sales as an industrial real estate broker and owner. His greatest accomplishment is maintaining valued relationships spanning five decades. Joel attended the University of Michigan. He enjoys spending time with his family in Deerfield and in the great outdoors. Connect with Joel Website: Brit Properties LinkedIn: Joel Friedland, SIOR Are you a passive real estate investor seeking financial freedom? Almost daily, new headlines break on the latest financial market upset. Now is the time to get educated on how to strategically invest in commercial real estate for long-term financial freedom. Grab your copy of “How to Passively Invest in a Changing Economic Environment” Go to…www.MavericksInvest.com Want to keep up to date on the commercial real estate market, trends, investing tips and know what Neil is buying right now? Connect with him at Legacy Impact Investors, and be sure to register for his newsletter. Connect with Neil Timmins on LinkedIn. If there is a topic you want to know more about or a guest that you would like to see on the show, shoot Neil a message on LinkedIn. About Neil Timmins Neil is a commercial real estate syndicator, published author, and podcast host. Neil's entry point into the Real Estate industry came after a few short years in banking. Recognized by the Wall Street Journal as a Top 100 team and the #1 REMAX agent in Iowa by the age of 29, Neil had solidified his role as a force in the industry. Having completed hundreds of Fix & Flips, Wholesales, Wholetails, Novations, and Owner-Financed deals, Neil longed to quit forfeiting time for dollars. After building a portfolio of single-family rentals to produce passive income, he found the strategy to be anything but passive. Neil, however, didn't go looking for his first commercial deal, he actually stumbled into it. Since then, he has refined the process of analyzing and buying commercial properties that produce stellar cash flow. Neil has been involved in over $300,000,000 in real estate transactions. While his holdings in commercial asset classes include apartments, offices, mobile home parks, and self-storage units, his passion is industrial property. Neil now has verticals in residential real estate, multiple commercial asset classes, brokerage, publishing, and this successful podcast. Neil and his wife, Emily, are the proud parents of three active teenagers. Those who know Neil say he is a competitor by nature, whether for the biggest fish on a deep-sea fishing trip, the best ribs at a barbeque, or playing football back in his day at his alma mater, the University of Nebraska at Omaha as a Maverick. Neil is always up for travel, spending time on the water, and of course, meeting people interested in learning about and investing in commercial properties. Click here to see video of the podcast.
This week, we feature one of the most successful real estate investors we've had on the show to date. With over 40 years of experience, Joel Friedland of Brit Properties tells us about his humble beginnings and how he built the empire he has today. Joel Friedland is the Founder of Brit Properties, an investment firm that connects investors to Chicago industrial real estate syndications. But before that, Joel co-founded Epic Savage Realty Partners, where he completed hundreds of transactions and led the leadership development team for over 20 years. Today, Joel has numerous multi-million dollar deals behind him and more to come as he maximizes the industrial real estate scene in Windy City. We're thrilled to have him on the show to share what it's like to lease and manage industrial real estate properties, something that our multifamily investors may not all be familiar with. Joel also describes the pitfalls he encountered through the years, including the 2008 recession and how the speedbumps helped him become the smarter investor he is today. Join us on this episode to learn all about Joel's experiences, learnings, and motivations as an investor and leader. KEY TAKEAWAYS 1. Risk-averse investors want to protect the fortune that they've already got. 2. Mortgages are a significant risk for leased industrial properties. 3. Diversification is essential no matter what, and putting all your eggs in one basket increases the risk of bankruptcy. 4. Investing with other investors and syndicators you trust can be a great way to expand your knowledge. LINKS https://www.linkedin.com/in/joel-friedland-sior-5508a791? https://britproperties.com/ INVESTMENT OPPORTUNITIES Want to invest alongside Reed? All investments are 100% PASSIVE. Historical returns to accredited investors have ranged 18-31% annualized! To find out more, head on over to… www.reedgoossens.com
Nothing has caused more heartache and stress in Real Estate than too much debt. Leverage can work great in upmarkets, but it can cut the other way in a downturn. Joel Friedland, Principal of BRIT properties, has been buying infill industrial properties with all cash since learning the hard way during the 2008-09 financial crises. Joel and his investors are seeking very conservative investments with the number one goal of capital preservation. He buys highly sought-after properties that result in average sixteen-year duration tenancies. Joel specializes in industrial properties in Chicago that deliver 8% unleveraged returns.
In this episode, we dive into the world of industrial real estate with Joel Friedland, a seasoned investor with over 40 years of experience. Joel shares his valuable insights on weathering economic storms, acquiring assets without debt, raising capital, and finding off-market deals. With an impressive portfolio of nearly 100 acquisitions totaling approximately 3 million square feet, Joel's expertise is unmatched. He has raised over $100 million in private capital and facilitated more than 1,600 industrial leases. Joel sheds light on his remarkable journey of overcoming the challenging 2008 market crash in the real estate industry. Drawing from his experience, Joel discusses the strategies he employed to weather the storm. Through his compelling story, Joel inspires listeners with his resilience, adaptability, and determination to succeed in the face of adversity. He also talks about the risks involved in industrial real estate as well as valuable perspectives he learned along the way. He understands the potential challenges in the industry, including economic fluctuations, tenant turnover, and property maintenance costs. Joel's seasoned approach, combined with his ability to adapt and find off-market deals allows him to mitigate risks and maximize returns. Join us as we explore Joel's journey from his early beginnings to his current role as the Principal at Brit Properties and Brit Asset Management, where he manages a diverse portfolio of properties on behalf of investors! In this episode, we discuss: How he successfully navigated the challenges of the 2008 recession and developed strategies for buying assets without relying on debt The importance of cold-calling and off-market deals to find lucrative investment opportunities Understanding Industrial leases and the advantages and risks involved in the industry The importance of making informed decisions Connect with Joel Friedland: Linkedin: https://www.linkedin.com/in/joel-friedland-sior-5508a791/ Company Linkedin: https://www.linkedin.com/company/brit-properties Website: https://britproperties.com/ Youtube: https://www.youtube.com/channel/UCS4CNcUQExJrULBowMwzGEw Facebook: https://www.facebook.com/profile.php?id=100064703481200 Twitter: https://twitter.com/brit_properties Contact: https://britproperties.com/contact-us/ Connect with Pantheon Investments: Join the Pantheon Investor Club: https://pantheoninvest.com/investor-signup/ Website: www.pantheoninvest.com Podcast: www.pantheoninvest.com/podcast Facebook: https://www.facebook.com/PantheonInvest Instagram: www.instagram.com/pantheoninvest LinkedIn: https://www.linkedin.com/company/pantheon-invest Twitter: https://twitter.com/Pantheon_Invest Youtube: https://www.youtube.com/channel/UC8EsPFlwQUpMXgRMvrmbAfQ Holistic Wealth Strategy Book: https://www.amazon.com/Holistic-Wealth-Strategy-Framework-Extraordinary-ebook/dp/B0BX4SDMS7/ref=sr_1_1?keywords=holistic+wealth+strategy&qid=1681472301&sprefix=holistic+wealth%2Caps%2C99&sr=8-1 Email: info@pantheoninvest.com
Industrial real estate broker, owner, and Principal at Brit Properties, Joel Friedland, has a 40-year track record in industrial real estate, having secured more than 2,000 industrial property leases and sales. If you asked Joel his greatest career accomplishment, he would say that it's his ability to maintain valued relationships spanning five decades. In today's episode, he offers insight into his tried-and-true code of conduct for building lasting relationships, loosely based on Don Miguel Ruiz's The Four Agreements (a highly recommended read from our guest). Joel also shares a few anecdotes that illustrate how you can build relationships anywhere, whether you're driving down the road or picking up your dry cleaning. We take a deeper look at the industrial product type, current investor sentiments in the space, and the deal structure at Brit Properties. Tune in today for all this and more!Key Points From This Episode:The story of Joel's introduction to industrial real estate.Joel's guide to building relationships which starts with never taking it personally.Interested is interesting: how you can benefit from listening and asking questions.Why Joel loves the industrial product type (and his backyard market of Chicago).An insider's look at Joel's class B and C industrial niche.Investor sentiments in the industrial space post-COVID.All-cash, no mortgage, no debt: insight into Brit Properties' deal structure.What to do first when you lose an investor's money.Tips for making major decisions.Links Mentioned in Today's Episode:Joel Friedland on LinkedInBrit PropertiesThe Four AgreementsVertical Street Ventures VSV Academy Passive Income Through Multifamily Real Estate Facebook GroupPeter Pomeroy on LinkedInPeter Pomeroy Email
An interview with Joel Friedland, co-founder of Brit Properties. We'll be discussing the following: ✅ Why invest in industrial real estate? ✅ Passive vs active investing ✅ What is a real estate syndication? About Joel: Joel has 40 year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014 and Joel started Brit Properties. As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales. His greatest accomplishment is maintaining valued relationships spanning five decades. Connect with Joel: LinkedIn: https://www.linkedin.com/in/joel-friedland-sior-5508a791 Website: https://britproperties.com/ -- Bastion Pens Link: https://bastionboltactionpen.com/?rfsn=7334111.02cb20&utm_source=refersion&utm_medium=affiliate&utm_campaign=7334111.02cb20 ⚡ Subscribe: https://www.youtube.com/@industrialize?sub_confirmation=1
Welcome to Real Estate Underground Show #70! Our guest, Joel Friedland, is an industrial real estate broker and owner of Brit Properties. Starting his very first business at the age of 14, Joel has always been driven to succeed. After graduating from the University of Michigan, he found his niche in industrial brokerage and syndication. In his first year, Joel made an impressive 37 leases in the business. In this episode, Joel shares some insights from his successful career, including his decision to go 100% equity with no mortgages in all his deals. He also discusses the benefits of taking some risks and selling to business owners directly, leading to great returns. He shares his secrets to looking for target geographies. Plus, you will get an exclusive sneak peek into his most recent deal. You won't want to miss this information-packed discussion! Check out Joel's website at https://britproperties.com/ to learn more. Resources: Website: https://britproperties.com Additional Resources: Website: www.clarkst.com Phone: (860) 675-5800 Facebook: www.facebook.com/ClarkStCapital Instagram: www.instagram.com/clarkstcapital Twitter: https://twitter.com/clarkstcapital1 LinkedIn: www.linkedin.com/company/clark-st-capital
Remember the 2008 Crash? Joel survived it and rebounded through a sequence of miracles. Tune in to the full episode to find out how and why he does all cash syndications now. In the full episode we covered: Industrial leasing sales Business Mindset from a young age Old School Door to Door Leasing War stories Observing a syndicator & developer as inspiration to do the same Syndicating all cash developments deals Surviving the 2008 crash Capital Preservation as an investment philosophy Mentoring people We are nearing the top of a real estate cycle Raising Capital for Industrial Why Industrial has been on fire and created a huge boom The 2 sets of 3 Rules of Industrial Real Estate The User Sales Strategy Getting to know your investors extremely well Letting investors exit in the middle of syndications If you are raising capital you must talk to 3 people daily Interested equals Interesting philosophy Check him out at https://britproperties.com/ Get all your syndication and capital raising marketing at pitchdecks.com If you would like to find out more about Family Office Capital Raising events you can visit lnkd.in/gD6mJ5gp Book a call with Ruben at calendly.com/rlgreth
Joel recalls the early days of industrial leasing sales in Chicago. Tune into the full show to hear other stories, how he scaled into $350M dollars of syndicated deals over 4 decades and how he survived the real estate crash of 2008! In the full episode we covered: Industrial leasing sales Business Mindset from a young age Old School Door to Door Leasing War stories Observing a syndicator & developer as inspiration to do the same Syndicating all cash developments deals Surviving the 2008 crash Capital Preservation as an investment philosophy Mentoring people We are nearing the top of a real estate cycle Raising Capital for Industrial Why Industrial has been on fire and created a huge boom The 2 sets of 3 Rules of Industrial Real Estate The User Sales Strategy Getting to know your investors extremely well Letting investors exit in the middle of syndications If you are raising capital you must talk to 3 people daily Interested equals Interesting philosophy Check him out at https://britproperties.com/ Get all your syndication and capital raising marketing at pitchdecks.com If you would like to find out more about Family Office Capital Raising events you can visit lnkd.in/gD6mJ5gp Book a call with Ruben at calendly.com/rlgreth
Joel is really cool and it was fun exploring an asset class we don't hear enough about from real operators. Not to mention, he has some great spiritual philosophies, powerful real estate war stories, survivor of the real estate crash of 2008 and insightful capital raiser. Some of the topics we covered include: Industrial leasing sales Business Mindset from a young age Old School Door to Door Leasing War stories Observing a syndicator & developer as inspiration to do the same Syndicating all cash developments deals Surviving the 2008 crash Capital Preservation as an investment philosophy Mentoring people We are nearing the top of a real estate cycle Raising Capital for Industrial Why Industrial has been on fire and created a huge boom The 2 sets of 3 Rules of Industrial Real Estate The User Sales Strategy Getting to know your investors extremely well Letting investors exit in the middle of syndications If you are raising capital you must talk to 3 people daily Interested equals interesting philosophy Check him out at https://britproperties.com/ Get all your syndication and capital raising marketing at pitchdecks.com If you would like to find out more about Family Office Capital Raising events you can visit lnkd.in/gD6mJ5gp Book a call with Ruben at calendly.com/rlgreth
HIGHLIGHTSWe dive back into the archives to some of our favorite moments.Episodes 1570 & 1524WS1570 - Doing Deals With Zero Debt | Joel FriedlandHow do you recover from a big challenge, like a recession? How does your mental health affect your business decision-making? In this first episode of our two-part series with successful real estate entrepreneur Joel Friedland, he answers these questions and more! Joel uncovers the secret of how to do deals with zero debt and describes this as how the rich do business.Joel kickstarts the show by sharing that he's been in the industrial real estate industry for over four decades now. He then shares the lessons he learned from his mentors in the industry, the reason why he only does real estate deals with zero debt, and how he is able to do that. He also discusses how relationships matter most to him, how knowing the details of your offering book can spell a difference and even his mental health scale. Listen now to this very informative and inspiring episode!https://youtu.be/TewHoTlks5IWS1524 - The Basics of Family Office | DJ Van KeurenIn buying opportunities, having an open mind allows you to see the demands you need to look at and how it's creating more buying opportunities for you. Today's guest, DJ Van Keuren talks about the fundamentals of multifamily offices – owning them and even developing them. As an expert in this field, he shares what is the standard net worth before acquiring family offices and who should consider them.It is a common scenario today that people get overwhelmed in growing their net worth and the sudden need to know what family offices are. In this episode, DJ also helps us to understand how to manage that capital especially for passive investors. Sit in with us and learn more about how you can transfer your wealth and sustain it up to your fifth generation and more!https://youtu.be/kVO3mOriNjMVISIT OUR WEBSITEhttps://lifebridgecapital.com/Here are ways you can work with us here at Life Bridge Capital:⚡️START INVESTING TODAY: If you think that real estate syndication may be right for you, contact us today to learn more about our current investment opportunities: https://lifebridgecapital.com/investwithlbc⚡️Watch on YouTube: https://www.youtube.com/@TheRealEstateSyndicationShow
Multifamily Investing the RIGHT Way with Multifamily Attorney Charles Dobens
Joel Friedland of Brit Properties has 42 years of experience in industrial real estate. He is currently a broker, owner and syndicator representing the ownership of a portfolio of 15 industrial buildings and over 200 investors. Joel and I discuss investing in industrial real estate. For more information or to get started in multifamily investing, please visit: https://www.multifamilyinvestingacademy.com/.
Industrial real estate is an exciting and stable asset class, that has gained increased popularity within the recent years. More and more investors are reshaping their appetite for industrial as a diversified investment class. There is not a ton of education in this commercial real estate space that teaches on how to invest in industrial. Our guest, Joel Friedland is a 40+ year real estate veteran, an expert in the industrial space and has been through many real estate cycles in his career. Joel is the founder Brit Properties - a boutique owner and operator of industrial real estate. Since 1989, BRIT'S Chicago-based team has acquired 95 industrial properties with an aggregate value of nearly $200 million. Through hands-on acquisition and skillful property management, Brit Properties strives to provide our pool investors with consistent cash flow, appreciation in value, and straightforward communication. In this episode, we discussed… Why he ventured out real estate brokerage to start his own real estate investing firm How surviving the real estate recession in 2008 reshaped his desire for debt How to get started in industrial real estate investing Joel's view on the macroeconomy in the U.S. Joel Friedland's LinkedIn Profile link: https://www.linkedin.com/company/11769890/ Joel Friedland's Company Website link: britpoperties.com Interested in investing in commercial real estate opportunities? Join our investor group here Check out our FREE multifamily due diligence checklist to avoid costly mistakes. Click here to download the checklist. Check out our FREE Syndication Guide For Passive Investors to learn everything you know need to know BEFORE you passively invest in real estate. Click here to download the guide.
The Commercial Real Estate Academy podcast was created to demystify the commercial real estate industry for the masses. During our weekly episodes, we interview industry experts on a host of different commercial real estate-related topics. Through these interviews, we hope to arm you with the knowledge, references, and tools you'll need to confidently pursue commercial real estate opportunities as a business owner and/or an investor. Raphael Collazo and Jeff Walston are excited to introduce their guest for this week! In today's episode, we hosted Joel Friedland, Principal at Brit Properties, for a lively conversation about why he decided to focus on industrial real estate investment. ▶️ During our conversation, we explored topics such as: • Strategies that he uses to grow his business, • His decision to focus on investing in industrial, • What is the syndication model, and how has he structured a recent investment, • Some criteria that he looks for in an investment opportunity, • Where does he see the future of industrial going, • As well as much more... ▶️ If you're interested in learning more about Joel, feel free to reach out to him via the following links: ▶ LinkedIn: https://www.linkedin.com/in/joel-friedland-sior-5508a791/ ▶ Website: https://britproperties.com/ ▶ Email: joel.friedland@brit-properties.com Below I've provided links to books that were referenced during the episode: 1. Quotes That Will Change Your Life - https://www.amazon.com/Quotes-That-Will-Change-Your/dp/1573246948 If you find value in these episodes, please SUBSCRIBE and don't forget to leave us a 5
What comes to mind when you think of investing in an industrial space? So many people may be clueless about how to start or what to expect, but Joel Friedland from Brit Properties sat down with Eddie to chat about how he got into real estate by going door to door which led him to investing in the industrial space. They discuss why investing in industrial can be an attractive asset class, how Brit Properties structures investor deals and why the demand is so high and continues to go up. For more information, visit BritProperties.com.
What comes to mind when you think of investing in an industrial space? So many people may be clueless about how to start or what to expect, but Joel Friedland from Brit Properties sat down with Eddie to chat about how he got into real estate by going door to door which led him to investing in the industrial space. They discuss why investing in industrial can be an attractive asset class, how Brit Properties structures investor deals and why the demand is so high and continues to go up. For more information, visit BritProperties.com.
What does it take to be a successful real estate investor for over 40 years? Today, we're chatting with Joel Friedland, an industrial real estate investor in Chicago. From starting his own landscaping business at 14 to raising over $100MM in private capital, Joel shares his journey and insights on the industry, including his shift to a more conservative investment philosophy after surviving the Great Recession of 2008 and three other recessions as a real estate investor. Joel discusses:
What does it take to be a successful real estate investor for over 40 years? Today, we're chatting with Joel Friedland, an industrial real estate investor in Chicago. From starting his own landscaping business at 14 to raising over $100MM in private capital, Joel shares his journey and insights on the industry, including his shift to a more conservative investment philosophy after surviving the Great Recession of 2008 and three other recessions as a real estate investor. Joel discusses:
Joel Friedland, is the Principal at Brit Properties, an industrial real estate investing firm based in Chicago. In this episode, Joel discusses his strategy for identifying and purchasing properties, syndication in industrial real estate, why Chicago is the best industrial area in the country, and something called the “punch in the face theory.” Joel Friedland | Real Estate Background Principal at Brit Properties Portfolio: 15 industrial buildings with an aggregate value of ~$50 million Based in Chicago, IL Say hi to him at: Brit Properties on YouTube LinkedIn Best Ever Book: Don't Sweat the Small Stuff, by Richard Carlson Greatest Lesson: Debt is dangerous. After struggling through the '08 recession, I changed my strategy to focus on all-cash deals. Click here to learn more about our sponsors: MFIN CON
Did you realize that the industrial real estate market is booming right now? Today we are stoked to have the very captivating Joel Friedland of of Brit Properties on the podcast to talk about is vast experience in industrial real estate. This is very good! Links from episode: Joel's YouTube https://www.youtube.com/@britproperties4581 Why to NOT invest with Joel https://britproperties.com/education/whats-wrong-with-our-offerings/ Joel's LinkedIn https://www.linkedin.com/in/joel-friedland-sior-5508a791/
Target Market Insights: Multifamily Real Estate Marketing Tips
Right out of college, Joel went to work for a family real estate business in Chicago where he was mentored in all things real estate; specifically industrial brokerage. After some time Joel broke away from that company amicably and started his own brokerage business. At its height, Joel was managing over twenty brokers. These days his main focus is managing their existing industrial portfolio of 16 industrial class B/C buildings and growing their ~200 person investor base so they can continue to acquire more assets. We talked to Joel about all things industrial real estate investing, relationships, and his all cash philosophy! Get Your Ticket: Click here to join me and other top real estate investors for the Midwest Real Estate Networking Summit! [00:01] Opening Segment How Joel found his comfort in brokerage in 1981; 37 industrial real estate deals in his first year as a broker; [06:42] Industrial Properties 101 How to find infill industrial class B/C class properties; The story of buying Bob Steiner's building; What to look for when investing in industrial real estate How to be secure in industrial real estate deals; The differences between investing in industrial properties from other commercial real estate asset classes; The all-cash philosophy; Announcement: Download Our Sample Deal and Join Our Mailing List [26:56] Round of Insights Apparent Failure: Borrowing money for promissory notes Digital Resource: Josh Spector's Newsletter Most Recommended Book: The E-Myth Daily Habit: Talking to his mentees and mentors #1 Insight for Industrial Investing: If you go so low risk that if things go bad, you can still survive. Best Place to Grab a Bite in Chicago: Charlie Beinlich's Contact Joel: To learn more go to britproperties.com. You can listen to Josh Specter's podcast by clicking here. Thank you for joining us for another great episode! If you're enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.
More than the infrastructure and the lot, real estate is a people's business. In the last episode of our two-part series with seasoned real estate entrepreneur Joel Friedland, he shares the secret on how to build connections, especially with potential investors such as high-net-worth individuals.Joel shares that he consults a group of advisors whenever he does a deal. He also gives emphasis on talking to your deals manager properly, the importance of keeping a lot of cash reserves, and the three rules for industrial real estate. He then talks about his predictions about the real estate market for the coming months, how the Fed decision can affect the industry, and referrals being his best source of new investors. Tune in and learn a lot of wisdom from Joel today! Key Points From This Episode: Joel discusses how he was able to find eight advisors he can consult with about his business.How does Joel deal with high-net-worth individuals?Joel deeps dive into his business plan and the kind of deals he's doing.Why Joel does not like doing funds?How long does it take for Joel to do a project and how many investors does he tap?Joel talks about a building they have owned for 30 years.Joel shares how his investors value their shares.Joel's predictions of the real estate market in the next 12 to 18 months.How does Joel prepare for a downturn?The three rules in industrial real estate are parking, parking, parking.What is the biggest challenge in Joel's business today?The metrics that Joel tracks.The habit that produces the highest return for Joel is sleep.What's the number one thing that contributed to Joel's success?How does Joel like to give back?Tweetables:“I believe that it's important to get other people's opinions, especially smart people who are solid in their judgment in business.”“You have to know how to take adversity, and I didn't. I've never seen adversity. So now what I do is when I call people I open with, 'Hey, in 2008, I went into a depression because I thought I lost everybody's money. If you invest with me, you've got that guy with that experience. And I'm not going to let that happen again if I have anything to say about it.' And, that's why we do our deals all cash.”“I don't like funds, because it puts the money in your pocket and burns a hole in your pocket, and you need to go spend it. I like individual deals because people can pick and choose.”“There are three rules in industrial – parking, parking, and parking.”Link Mentioned in Today's Episode:Joel Friedland on LinkedInBrit Properties websiteWS1570: How To Do Deals With Zero Debt | Joel FriedlandAbout Joel FriedlandJoel has a 40-year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014 and Joel started Brit Properties.As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales. His greatest accomplishment is maintaining valued relationships spanning five decades.Joel attended the University of Michigan. He enjoys spending time with his family in Deerfield and in the great outdoors.
How do you recover from a big challenge, like a recession? How does your mental health affect your business decision-making? In this first episode of our two-part series with successful real estate entrepreneur Joel Friedland, he answers these questions and more! Joel uncovers the secret of how to do deals with zero debt and describes this as how the rich do business.Joel kickstarts the show by sharing that he's been in the industrial real estate industry for over four decades now. He then shares the lessons he learned from his mentors in the industry, the reason why he only does real estate deals with zero debt, and how he can do that. He also discusses how relationships matter most to him, how knowing the details of your offering book can spell a difference, and even his mental health scale. Listen now to this very informative and inspiring episode!Key Points From This Episode: Joel shares that he started in the industry as an industrial real estate broker.How did Joel get involved in the industrial real estate industry himself?Joel talks about how he learned about syndication.How did Joel raise money as he was starting his syndication business?How did Joel move forward during the lowest point in his real estate journey?Joel emphasizes the importance of taking care of your mental health.Why does Joel do deals now with zero debt?Joel discusses the kind of investors that he has.How does Joel gauge in making a decision?Joel discusses his mental health scale.Tweetables:“Industrial is a closed community, pretty much. It's people who get in and get trained by people already in the business, which is what happened with me.”“Mental health really affects how people make decisions. If you're mentally healthy. I think you think through what the consequences are going to be of your decisions. But if you're not mentally healthy, and you're elevated, and you think you're really hot, you might go make some decisions that have very dire consequences, because you're not thinking clearly.”“What matters most to me are the relationships. The money is really important, but I love it when I can pick up the phone and call someone who's got a connection or is in a business and I can help somebody by knowing somebody.”“I believe, with solid mental health, not being high on life, not making decisions impulsively, I have a thing that I call wait, W-A-I-T. Before I make a decision, I asked myself, wait a minute, what am I thinking? W-A-I-T. What am I thinking? And then when I'm talking to people, I also use the word “wait” which is, why am I talking when I should be listening?”Link Mentioned in Today's Episode:Joel Friedland on LinkedInJoel Friedland's EmailBrit Properties websiteThe Gambler: How Penniless Dropout Kirk Kerkorian Became the Greatest Deal Maker in Capitalist HistoryAbout Joel FriedlandJoel has a 40-year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014 and Joel started Brit Properties.As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales. His greatest accomplishment is maintaining valued relationships spanning five decades.Joel attended the University of Michigan. He enjoys spending time with his family in Deerfield and in the great outdoors.
The Science of Flipping | Become a real estate investor | Real Estate Investing like Robert Kiyosaki
Joel Friedland knows a thing or two about real estate. After all, he's been in the business for over 20 years and has successfully completed hundreds of transactions. Joel is also highly experienced in leadership development, having founded Epic Savage Realty Partners and then Brit Properties, LLC and Brit Asset Management. In his spare time, Joel enjoys traveling and spending time with his family. The #1 training and coaching system to launch, grow, and scale your investing business!
Real Estate Investing With Jay Conner, The Private Money Authority
Joel Friedland is a 40-year veteran of industrial real estate, co-founding Epic/Savage Realty Partners in 1991 before eventually starting his own company—Brit Properties. He has secured over 2,000 industrial property leases and sales and has raised $100 million in private money.In this episode, Joel walks us through industrial real estate, building trust with investors through complete honesty, and raising private money. Tune in!Key Takeaways:The industrial real estate nichePrivate money can come from anyone, whether rich or not.Don't guarantee loans.Be up-front with investors about the risk of private lending.Mitigate risk through due diligence and making good decisions.The importance of 100% trust with your investors.Don't gamble: understand what makes a good deal.Emotion is not how you make deals—math is how you make deals.Joel's deals and their terms.Check out my book: 7 Reasons Why Private Money Will Skyrocket Your Real Estate Business and Help You Build Incredible Wealth!Get it here for FREE: www.jayconner.com/moneyguideConnect with Joel:Website: britproperties.comFacebook: https://www.facebook.com/Brit-Properties-110044797821601Twitter: https://twitter.com/brit_propertiesLinkedIn: https://www.linkedin.com/company/brit-propertiesYoutube: https://www.youtube.com/channel/UCS4CNcUQExJrULBowMwzGEwEmail: joel@britproperties.com
Anyone that's been following the podcast will know I've released many episodes on multifamily real estate. But today, we're changing things up a bit and talking about the other darling asset of this COVID era, industrial real estate. Joining me for this conversation is my friend and the founder of Brit properties, Joel Friedland. Joel became an industrial investor at age 31 and now holds hundreds of millions of dollars in industrial assets. He's acquired 95 properties in the Chicago area since 1989, debt-free, and achieved 8% annual passive income with a targeted 14% IRR. In this episode, you'll learn about his all-cash, no-debt strategy and how to renew industrial buildings. You'll also hear some sage advice from his tremendous career in the field. He also takes the time to walk us through how an entrepreneur who got funding on Shark Tank became one of his main clients and how to map out investment strategies when great opportunities come your way. I know you're going to love this interview. Enjoy! Key Takeaways with Joel Friedland How Joel landed Shark Tank alumni Jonathan Miller as a client. How Joel structures industrial deals for limited partners and passive investors. What Joel does to create win-win situations for his investors and his tenants. What to look for as you consider buying your first industrial building. Joel's four key takeaways for anyone looking to invest in industrial real estate. Why Joel thinks so many real estate entrepreneurs are compulsive gamblers–and why it's so important not to get in over your head. Want the Full Show Notes? To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/337 Rate & Review If you enjoyed today's episode of The Accelerated Real Estate Investor Podcast, hit the subscribe button on Apple Podcasts, Spotify and YouTube so future episodes are automatically downloaded directly to your device. You can also help by providing an honest rating & review over on Apple Podcasts. Reviews go a long way in helping us build awareness so that we can impact even more people. THANK YOU! Connect with Josh Cantwell Facebook YouTube Instagram LinkedIn Twitter Sign up for the Forever Passive Income Partnering, Mastermind and Coaching Program with Josh Cantwell To unlock your potential and start earning real passive income, visit joshcantwellcoaching.com
At the most basic level, Joel Friedland explains, industrial real estate is just made up of a bunch of boxes. You've got big boxes, small boxes, tall boxes, short boxes, and inside it's just open space. However, after hearing Joel explain his business further, it's clear that industrial is about way more than just boxes. Joel has 40 year track record in industrial real estate. As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales. His greatest accomplishment is maintaining valued relationships spanning five decades. He explains how the industrial real estate industry has changed over the years. Decades ago, a small group of owners typically owned the assets - manufacturers and distributors who ran the business and owned the property. Today, Joel estimates that over 40% of properties are now owned by institutions. So how does he compete? First of all, he's developed a strong business model that lets him find opportunities that are generally under the radar of institutions. Rather than going after Class A assets, he focuses on Class B & C properties that may be a little older, and may not always have the curb appeal of Class A, but they bring returns that help Jeff & his team outperform the institutions. Secondly, Jeff emphasizes that the fabric of being able to grow any successful business will always come down to maintaining and building relationships. Out of over 100 deals that he's done, only 4 have come through brokers, the rest have come from strong building relationships over time. Key Takeaways: Relationships, relationships, relationships. Jeff maintains relationships with people he met over 40 years ago who have become his investors and they've invested over and over and over again. It's a relationship business Roll up your sleeves. Jeff started in the businesses going door to door looking to uncover deals, and today his son does the same thing. It's hard work but it helps start developing relationships and gives you a ground level view of what's happening in the market. Be conservative. Similar to what we're seeing in other sectors, Jeff describes a challenging market where things have gone up so much the past several years that sellers and other buyers may not have adjusted to the new realities yet. So Jeff's being conservative, getting into good deals but with a low LTV and, in some cases has even paid cash to avoid taking on too much debt. Contact Jeff: You can contact Jeff through the Brit Properties website: www.britproperties.com Are you REady2Scale Your Multifamily Investments? Learn more about growing your wealth, strengthening your portfolio, and scaling to the next level at www.bluelake-capital.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Joel has 40-year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014 and Joel started Brit Properties. As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales. His greatest accomplishment is maintaining valued relationships spanning five decades. In this episode we talked about: * Joel's Background and Getting Into the Wild West of Real Estate * Fiscal Policy Response * Mentorship * The transition from Brokerage to Investment * Equity Raise * The Advice to Individuals who Syndicate Deals * Resources Useful links: https://britproperties.com/
Joel Friedland is a real estate broker and developer in the Chicago area. He did 37 deals his first year, he's seen several ups and downs over his career. The biggest lesson he has learned for his own life and career is how to control your mental health, especially as you try to balance the highs and lows of the market and your business. He believes the answer to this challenge is to proactively find a mentor who understands the mood swings each person experiences as they deal with the many challenges life will throw their way. Over the course of your career, real estate agents will experience variations in the market and in their business and they have to be mentally prepared to deal with what comes their way. Join Joel Friedland and Host Dan Lesniak as they discuss… ∙ Keeping your mood in a stable, safe place. ∙ Why finding a mentor who you can openly and honestly talk to about your emotional state is important. ∙ How some in the real estate development business become compulsive gamblers. ∙ Find a “wise owl” - someone who is probably older, more experienced, and knows more about life. QUOTES TO SHARE
Real Estate tends to go up over time and most newer investors have never experienced a downturn. There are periods, however, when Real Estate has come down in value and we're quite possibly heading into a contracting environment currently. Joel Friedland, Principal of BRIT properties, only buys properties with all cash. Most of the challenges he had in 2008-2011 was the result of debt and declining values, and even then, he was not aggressively leveraged. That's why he currently only does all cash deals. He and his investors are seeking very conservative investments with strong downside hedges. Joel specializes in manufacturer – user industrial properties in Chicago and delivers 8% unleveraged returns for his investors.
My podcast guest today, Joel Friedland co-founder of Brit Properties, is one of the country's leading experts on Class B and C industrial properties. Industrial real estate has consistently outperformed all other real estate asset classes and Joel's approach, which includes taking on very low levels of debt, have provided him and his investors with steady income over the years and through multiple real estate cycles, while protecting the downside from excessive risk. Learn from Joel how he has built his substantial industrial real estate portfolio, why it has not yet been impacted by current market conditions, and how he preserves his investors' capital while keeping an eye on income and growth. If you are looking for a safe haven during troubled economic times, Class B and C industrial real estate should be on your radar and Joel Friedland is the perfect person to explain the ins and outs.
In this episode of Purpose-Driven Wealth, your host Mo Bina sits with Joel Friedland to talk about the uniqueness of industrial real estate in comparison to residential. Industrial real estate, normally, doesn't interact with the public in a way that residential assets do. This same reason is why it's challenging for most to get into the industrial market. Here, Joel discusses the types of businesses that make industrial real estate what it is, what Warren Buffett's circle of competence is all about, why first-time investors are concerned with single-tenants, his different approach to mitigating risk, and more. In this episode you will learn: Industrial real estate houses very unique businesses It's hard to go wrong in a market that you know down to the littlest detail Why you shouldn't put all your money into one industrial property What is The Society of Industrial and Office Realtors? What is a dutch auction? and so much more! About Joel Friedland: Joel has a 40-year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991, where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014, and Joel started Brit Properties. As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales. His greatest accomplishment is maintaining valued relationships spanning five decades. Joel attended the University of Michigan. He enjoys spending time with his family in Deerfield and in the great outdoors. Follow Joel Friedland on: Website: https://britproperties.com/ Connect with Mo Bina on: Website: https://www.high-risecapital.com/ Medium: https://mobina.medium.com/ For more information on passive investing in commercial real estate, please check out our free eBook — More Doors, More Profits — by clicking here: https://www.high-risecapital.com/resources-index
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