Podcast appearances and mentions of marcus millichap

Commercial real estate remains strong amid tariffs and economic uncertainty — but why? In this episode of Real Estate News for Investors, Kathy Fettke breaks down a special report by Marcus & Millichap and the factors driving CRE resilience in 2025. As new U.S. tariffs disrupt global trade and inflation rises, many investors are bracing for volatility. Yet sectors like multifamily, industrial, and necessity-based retail are holding steady — and in some cases, gaining strength. Tune in to learn how commercial real estate is positioned to weather the storm, and where smart investors are focusing their strategies now. Topics Discussed: 00:00: Silver Lining for Commercial Real Estate? 00:25 Liberation Day Tariffs 00:52  Market Reaction 01:11 Inflation and Recession Risk 01:39 Commercial Real Estate Stability 01:51 Multifamily  02:05 Retail 02:19 Industrial 02:37 Office Sector LINKS Download Your Free Top 5 Cities to Invest in 2025 PDF!https://www.realwealth.com/1500 JOIN RealWealth® FOR FREE https://realwealth.com/join-step-1 FOLLOW OUR PODCASTS Real Wealth Show: Real Estate Investing Podcast https://link.chtbl.com/RWS Real Estate News: Real Estate Investing Podcast: https://link.chtbl.com/REN  

Whether you're a seasoned investor or just dipping your toes into the world of small apartment buildings, Chris Pearson and Nick Fluellen are here to give you the inside scoop on the latest trends, market shifts, and all things commercial real estate. Key Points: Upcoming Events: Old Capital's bus tour at the end of March. Virtual Speaker series with Jeff Adler of YardiMatrix in April. Conference in Dallas on October 8th and 9th. Save the Date! Old Capital Connection: New App for your phone! A community for accredited investors focused on multifamily investments. Provides exclusive updates, market insights, and new deal alerts. Market Sentiment: Positive sentiment at the National Multifamily Housing Council (NMHC) conference. Increased inventory and more deals hitting the market. Volatility in the treasury rates affecting the market. Broker Opinion of Value (BOV): High activity in BOVs indicating sellers' interest in knowing current asset values. 71 BOVs done in the last 30 days, suggesting increased market activity. Market Segments: Nick Fluellen's team at Marcus Millichap covers larger deals in DFW, 75 units and under, and secondary markets. Chris Pearson focuses on the 75 units and under segment, which he is seeing significant positive momentum. “These days, it's a lot easier to equity raise $3 million than $10 million.” Current Market Trends: Increased activity in smaller deals (75 units and under). First-time buyers and out-of-state buyers are more active. Deals are still being made with hard money, though the amounts may be smaller. Advice for New Investors: Tour as many properties as possible to get comfortable with the market. Submit offers even if they are below the asking price to stay active and top of mind with brokers. Understand the importance of having financing and equity lined up. Challenges and Opportunities: Volatility in interest rates and its impact on deal financing. The importance of rate locking to mitigate risk. To contact Chris Pearson: chris.pearson@marcusmillichap.com To contact Nick Fluellen: nick.fluellen@marcusmillichap.com   Are you ready to unlock the potential of Multifamily Syndications? Discover how Michael Becker's proven real estate syndication business can open doors to financial growth and long-term success. Visit SPIADVISORY.COM today and start your journey toward smarter investing!

In this rebroadcast of our February 20, 2025 webinar, John Chang from Marcus & Millichap provides an in-depth analysis of the self-storage industry's economic landscape in 2025. With inflation stabilizing, interest rates remaining high, and occupancy trends shifting, John breaks down key market forces shaping the industry and what operators should be prepared for. Topics covered include: The impact of economic uncertainty on self-storage Pricing strategies, rate wars, and competitive pressures Market saturation, construction slowdowns, and regional trends How younger tenants are changing length-of-stay patterns The growing role of technology and AI in operations and marketing Investment insights: Is now a good time to buy, sell, or expand? If you're a self-storage owner, investor, or operator looking for expert insights into what's ahead, this episode is packed with valuable takeaways. Guests: John Chang, Marcus & Millichap Hosts: Tommy Nguyen & Melissa Huff Brought to you by the teams at StoragePug and Lighthouse Storage Solutions

This episode unlocks dives into the emergent and exciting small bay flex industrial commercial properties with sector-specialist Cody Payne, SVP at Colliers.The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with top CRE professionals. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. In this episode, host Ashley Kobovitch sits down with Cody to discuss his extensive career in commercial real estate, focusing on the booming sector of small bay flex industrial properties. Cody shares his journey from car salesman to real estate, key lessons learned, and the importance of finding a niche. They dive into why small bay flex spaces are gaining popularity, the macroeconomic factors at play, and the essential qualities for success in commercial real estate. Cody also elaborates on his new book, Flex Space Domination, which serves as a comprehensive guide for investors interested in this asset class.Introduction to The Crexi PodcastMeet Cody Payne: Career OverviewFinding a Niche in Small Bay FlexMentorship and Career LessonsNavigating Economic ChallengesDaily Habits and Work EthicThe Rise of Small Bay Flex IndustrialFuture of Small Bay FlexTeam Growth and Investment EncouragementTeam Dynamics and Overcoming FearsIntroducing Flex Space DominationInsights from Flex Space DominationBalancing Commissions and InvestmentsAdvice for New Brokers and InvestorsRapid Fire Questions and Fun FactsFinal Thoughts and Contact Information About Cody Payne:Cody Payne is Senior Vice President at Colliers International in DFW and his team specializes in selling Office and Industrial investment properties. Over the past 19 years, Cody's team have closed more than 1,000 commercial real estate transactions. Combined with Colliers International Platform and Cody's extensive knowledge and expertise of leasing, management, market conditions and business, The Payne Office & Industrial Team provides their clients and investors the opportunity to maximize value while creating a competitive advantage that yields the best results.Prior to joining Colliers International, Cody worked at Marcus & Millichap and Sperry Van Ness/Dunn Commercial. Cody and his team also have a new book out called Flex Space Domination, the ultimate guide to help readers learn how to build and invest in the world of Small Bay Flex Industrial. If you enjoyed this episode, please subscribe to our newsletter and enjoy the next podcast delivered straight to your inbox. For show notes, past guests, and more CRE content, please check out Crexi's blog. Ready to find your next CRE property? Visit Crexi and immediately browse 500,000+ available commercial properties for sale and lease. Follow Crexi:https://www.crexi.com/​ https://www.crexi.com/instagram​ https://www.crexi.com/facebook​ https://www.crexi.com/twitter​ https://www.crexi.com/linkedin​ https://www.youtube.com/crexi

This Flashback Friday is from episode 248, published last March 14, 2012. Join Jason Hartman as he opens with some thoughts on buying far below construction or replacement costs sharing an email from Allstate Insurance, then a discussion of an Orange County Register article citing Marcus & Millichap's 2012 National Apartment Report. You'll hear Michael LeBeouf, author of the NY Times best-selling book, "The Greatest Management Principle in the World", where he discusses human behavior and how "What Gets Rewarded, Gets Repeated." In the news: Underwater borrowers eligible for settlement write-downs. A calculation by a Brookings Institution economist narrowed down a pool of underwater homeowners to 500,000 who could qualify for principal reduction from the $25 billion mortgage settlement. Using the parameters of the settlement, Ted Gayer found just 5% of the nation's 11.1 million underwater borrowers could get the principal reduced on their mortgage, first reported by The Washington Post. About $10 billion of the settlement, in the form of credits, will go toward principal write-downs made by the five banks. Only homeowners delinquent on their mortgages are eligible. Gayer eliminated others according to underlying requirements, including Fannie Mae or Freddie Mac loans and homes not owner-occupied. It's a rough calculation, Gayer warned, and he made some assumptions in the process. He eliminated any loans not held on the banks' balance sheets, as well as any with a second loan. Mortgage bondholders may not take kindly to principal write-downs, he said.     Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

Mark J. Cantrell, founding partner and shareholder of Cantrell McCulloch, Inc. (CMI), began his real estate career in 1984 with Marcus & Millichap, quickly becoming one of the company's top earners. From 1990 to 1996, he was the leading producer in the company's Texas offices. In 1997, Mark and his brother Tim founded The Cantrell Company (TCC), focusing on multifamily brokerage. Later, in 2001, Mark, Tim, and Bobby McCulloch co-founded CMI, which has since grown into one of Texas' largest property tax consulting firms. Mark leads the day-to-day operations and is in charge of business development, working alongside partner Bobby McCulloch. Under Mark's leadership, CMI now represents over $50 billion in property value across 29 states, including nearly 2,000 multifamily properties valued at over $40 billion. The firm's tax savings for tax year 2023 are expected to exceed $150 million. Mark is often consulted for his expertise in property values and strategies for dealing with appraisal district protests. In addition to his role at CMI, Mark is a partner in several DFW apartment and commercial properties and a founder of Texas Republic Bank. Tune in for insights into property tax consulting, real estate valuation strategies, and the importance of effective business development. To get in touch with Mark, reach out to him on this email address: mcantrell@cmi-tax.com 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

Today's episode is from Mobile Home Park #79 that originally aired on Oct. 10, 2017. Mobile Home Park industry broker, Stephanie McAnuff started her broker career with Marcus & Millichap specializing in manufactured housing communities. Today, Stephanie is a Partner at IDI Properties where her team specializes in mobile home park and multi-unit investment brokerage. She has set herself apart from other industry brokers through transforming how mobile home parks are marketed and her dedication to educating others about mobile home park investing with her publications.   Recommended Resources: Accredited Investors, you're invited to Join the Cashflow Investor Club to learn how you can partner with Kevin Bupp on current and upcoming opportunities to create passive cash flow and build wealth. Join the Club! If you're a high net worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.  Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.  Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast. Learn more about Kevin's investment company and opportunities for Lifetime Cashflow at sunrisecapitalinvestors.com.

I have another amazing CRE guest using AI to help real estate pros up their game to introduce you to this week, Thomas Foley, co-founder and CEO of Archer.re   If you're tired of the long, slow grind of underwriting deals, you'll love this episode.   Archer.re is leveraging AI in the deal underwriting process, taking it from taking hours down to just a few minutes.   Imagine pulling in all your data, dropping it into your model (yes, your own model – no forced software here), and watching Archer make it happen.   Whether you're in multifamily or another asset class, Thomas's platform will open your eyes to what's possible.   Plus, you'll see how Archer is using AI to automate not just underwriting but also deal sourcing.   Picture this: predictive factors alerting you when an off-market property is likely to hit the market before it's listed.   Skeptical? Well, see how Archer has clients like Marcus & Millichap and Starwood using the platform.   Here's what Archer.re helps you do: Data-Driven Insights: Access deep, AI-powered analysis for smart property and investment decisions. Market Trends & Predictions: Stay ahead of trends with advanced forecasting for commercial real estate (CRE) markets. Automated Valuations: Get instant, accurate valuations on target assets, saving you time and increasing precision. Portfolio Optimization: Manage, track, and optimize your own assets in real time. Streamlined Decision-Making: Make faster, data-backed investment decisions with customizable reports and real-time analytics. Archer is another company that will cause you to rethink everything you know about deal analysis – and help you find, evaluate, and buy deals before they even come to market. ***** The only Podcast you need on for raising capital in real estate - enhanced by AI.   Learn how other real estate pros are using AI to get ahead of their competition.   Get early notice of hot new game-changing AI real estate apps.   Walk away with something you can actually use in every episode.   PLUS, subscribe to my free newsletter and get: • practical guides, • how-to's, and • news updates Get immediately actionable strategies and tools to raise more capital, connect with accredited investors, and scale faster—enhanced by AI to stay ahead of the competition. All in just 5 minutes, for free. https://gowercrowd.com/subscribe

    You'll learn about the importance of reaching out and following up in this episode with David Shorenstein, principal at Hildreth Real Estate Advisors, where he oversees various tasks including real estate investing and brokerage. Known for his tenacity in canvassing and cold calling, David talks about his early career, his time working at Marcus & Millichap, and the founding of Silvershore Properties.   You'll hear about working with partners who are experts and going after opportunities to succeed. David shares insight about diversifying into other asset classes like shopping centers, laundromats, and car washes, all while maintaining a focus on cash flow and value-add investments. You can connect with David through LinkedIn and HREA.    You can connect with me at: My website: JamesNelson.com LinkedIn: JamesNelsonNYC Instagram: JamesNelsonNYC Twitter: JamesNelsonNYC My Forbes.com articles: Forbes.com/sites/jamesnelson

If you want to be successfully invested for the long term, you need to understand the impact of credit shifts and rate cuts on the markets. Joining the show today is Chris Litzler, Senior Director at commercial real estate financing corporation Marcus & Millichap. Chris is well versed in the credit cycles and one of my barometers when it comes to credit shifts and how banks need to adjust to the current economy. You won't want to miss what he has to say about the real estate market, rate changes, upcoming opportunities, and more. Check out the show notes for more information! Top ten most downloaded episodes: Ep #382: Dr. Cody Cowen - Financial Freedom by 40 - It's All About Your Network and Relationships Ep #243: Steven Mautner - Maximizing Profitably in an Era of Commoditization Ep #334: Justin Donald - Investing in Assets to Create Your Freedom Lifestyle Ep #360: Rob Swanson - The Eight Rules of Investing (Part 1) Ep #344: David & Kandace Phelps - Risk is Necessary to Find Freedom (Part 1) Ep #353: Jim Rachor - Family, Legacy, and Freedom - How to Get There Sooner, Not Someday Ep #364: Trey Taylor - A CEO Only Does Three Things Ep #238: Dr. Cherry Chen - The Real Estate Physician Ep #254: Aaron Chapman - Shorting the Dollar with Good Debt Ep #343: Steven J. Anderson - Creating a Fast Start for Next-Generation Entrepreneurs P.S. Whenever you're ready, here are some other ways I can help fast track you to your Freedom goal (you're closer than you think) : 1. Schedule a Call with My Team: If you'd like to replace the earned income you need from your practice with investment income in as little as 2-3 years, and you have at least 1M in available capital (can include equity or practice sale), then schedule a call with my team. If it looks like there is a mutual fit, you'll have the opportunity to attend one of our upcoming member events as a guest. 2. Become a Full-Cycle Investor: There are many self-proclaimed genius investors today who think everything they touch turns to gold. But they're about to learn the hard way what others have gained through “expensive” experience. I'm offering a report on how to become a full-cycle investor, who knows how to preserve and grow capital in Up markets and Down markets. Will you be prepared when the inevitable recession hits? Get your free report here. 3. Get Your Free Retirement Scorecard: Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Click here to take the 3 minute assessment and get your scorecard. 

Many investors are intrigued by commercial and industrial real estate opportunities, but why settle for just one when you can invest in both? Join JD and Melissa as they delve into this topic with expert Grant Reaves, who sheds light on the dynamics of both commercial and industrial real estate investments. Grant's insights will reveal how understanding the intricacies of these sectors can lead to significant passive income opportunities! Stay tuned!   Here's what to expect on the podcast: Stoic Equity Partners investment strategy for commercial and industrial real estate. Factors investors should consider when deciding between commercial and industrial properties. The company's approach to raising capital and investor requirements. Stoic Equity Partners' plans and future growth. And much more! About Grant: Grant Reaves is a Co-Founder and Managing Director for Stoic Equity Partners. Grant oversees the acquisition department, investor relations, portfolio management, and the firms debt relationships. Grant has been involved in over $200MM of real estate transactions throughout his career.    After studying business at Auburn University, Grant began his career in commercial real estate brokerage at the age of 21. Grant worked for regional brokerage firm, Bellator Commercial, selling properties in all major asset classes. After 2 years in brokerage, Grant developed a niche of selling limited-service hospitality assets. In 2018 he moved to Marcus & Millichap to work in their National Hospitality Group to be able to expand geographic territory. This experience equipped him with essential skills in underwriting, deal structure, and portfolio management, which he now applies to Stoic's success.   Grant resides in Fairhope, AL, with his wife, Lawren, and son, William. They are members of the Church of the Apostles Eastern Shore.   Connect with Grant Reaves! Website: https://www.stoicep.com/ Email: greaves@stoicep.com LinkedIn: https://www.linkedin.com/in/grant-reaves-69876163/   Connect with JD and Melissa! Website: https://therealestatejam.com/  Facebook: https://www.facebook.com/therealestatejam/  Instagram: https://www.instagram.com/therealestatejam/  YouTube: https://www.youtube.com/channel/UCa_CWAV1OvH81yp6fITB4lg Shorefront Investments: https://shorefront-investments.com/  Email: therealestatejam@gmail.com Are you interested in Coaching? Set up a Call with JD: https://mailchi.mp/458f1b418e9e/invest-with-jd.  

Solar electricity is now expanding faster than any other kind of power source in the U.S. New solar installations are surging ahead of natural gas expansion as demand grows for the transition to clean energy for homes, businesses, data centers, and artificial intelligence. It's still a small percentage of the electricity we use, but industry experts say we are at a turning point in our decarbonization goals.   I'd like to mention that anyone who missed my 2024 Mid-Year Economic Update can see a replay of the webinar at our website. I had one of my favorite economists as co-host – the very knowledgeable and engaging John Chang of Marcus & Millichap. You will find the webinar replay at www.newsforinvestors.com. We welcome ideas and comments at podcasts@realwealth.com.   -Kathy   References:   https://www.cnbc.com/2024/06/19/solar-is-growing-faster-than-any-energy-source-as-clean-power-for-data-centers.html   https://www.govtech.com/computing/cheap-power-high-demand-drive-texas-data-center-growth   https://www.canarymedia.com/articles/solar/epa-community-solar-7-billion   /https://emp.lbl.gov/sites/default/files/2024-04/Queued%20Up%202024%20Edition_R2.pdf   https://www.climatecentral.org/climate-matters/a-decade-of-us-solar-growth-2024   Links: ~~~~ JOIN RealWealth® FOR FREE

This episode explores the latest net lease trends in commercial real estate with Darpan Patel, Senior Vice President of Investments at Marcus & Millichap.The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate.  In this episode, host Yannis Papadakis converses with Darpan about his journey in commercial real estate. Darpan shares his career progression from banking to becoming Senior Vice President at Marcus & Millichap, the formation of the Patel-Yozwiak Group, and the importance of mentorship. The discussion also explores the current state of the net lease market, the benefits and risks associated with net lease investments, and Darpan's advice for investors and brokers navigating today's challenging economic landscape. Meet Darpan Patel: Career HighlightsDarpan's Journey into Commercial Real EstateMentorship and Career LessonsWork Ethic and Team DynamicsThe Patel-Yozwiak Group: Formation and Market InsightsNet Lease Sector: Trends and OutlookRapid Fire Questions and Closing Remarks About Darpan Patel:Darpan Patel joined Marcus and Millichap as an Associate in April of 2012. He was promoted to Senior Associate in April 2016, elevated to First Vice President Investments in July 2019 and Senior Vice President in May 2023.Since joining Marcus & Millichap, Darpan has closed more than 350 transactions equating to more than $725 million of property sales in 40 states. His clients include developers, high net-worth investors, syndicators, medical professionals, private equity funds and private investment groups.Mr. Patel and his partner, Mr. Yozwiak, joined together in 2020 to form the Patel-Yozwiak Group of Marcus & Millichap. They lead a team of professional consultants that provide advisory services across the entire net leased sector. They have breadth and depth of experience in retail, restaurant, office, industrial, medical and hospitality. The team has closed in excess of 650 transactions valued in excess of $1.4B, across 40 states.Darpan graduated from the University of Cincinnati with a Bachelor of Business Administration, with a focus in Finance and Investments. He is a member of the International Council of Shopping Centers and in 2020 he received the ICSC Certified Retail Real Estate Professional (CRRP) designation, awarded to those with a high level of industry fluency.The Patel Yozwiak Group is quite active in supporting charitable and non-profit organizations, including Feeding America, Cincinnati Center for Autism, Cystic Fibrosis Foundation, The Point Arc, St. Judes, Feeding Tampa Bay and numerous other local organizations. If you enjoyed this episode, please subscribe to our newsletter to receive the very next one delivered straight to your inbox. For show notes, past guests, and more CRE content, please check out Crexi's blog. Ready to find your next CRE property? Visit Crexi and immediately browse hundreds of thousands of available commercial properties. Follow Crexi:https://www.crexi.com/​ https://www.crexi.com/instagram​ https://www.crexi.com/facebook​ https://www.crexi.com/twitter​ https://www.crexi.com/linkedin​ https://www.youtube.com/crexi

Nvidia is once again at the center of the market narrative today, as the XLK Tech ETF's rebalance boosts the stock's weighting in the fund. Clockwise Capital's James Cakmak explains. Plus, $5.5 trillion in options are set to expire due to Triple Witching Day. Decatur Capital's Degas Wright and Gilman Hill's Jenny Harrington discuss the potential volatility ahead. And, commercial real estate continues to show signs of distress. Marcus & Millichap's Hessam Nadji dives into the outlook.

Welcome to a pivotal discussion on the current and future dynamics of Canada's multifamily real estate market. In this episode, we are joined by Isaiah Joseph from Marcus & Millichap, a leading authority in real estate analysis and investment strategy. Episode Highlights: Rigorous Analysis for Strategic Decisions: Dive deep into the analytical insights from Isaiah that are shaping investment strategies in the real estate sector. Learn how rigorous, fact-based analysis can guide your investment decisions in the ever-evolving real estate landscape. The Influence of Media and Information Reliability: the critical role of dependable information for investors and how paid media sources could bias interpretations affecting crucial investment areas like housing prices. Historical Context and Market Conditions: Understand the historical impact of multifamily developments and how these insights relate to current market conditions, offering a comprehensive view of the past, present, and future market trends. Population Growth and Housing Market Dynamics: Discuss the significant effects of population growth on housing markets and suggestions for governmental actions to alleviate the housing crisis. Fiscal Policies and Their Impacts: Examine the influence of the GST rebate on rental housing development Interest Rates and Investment Impact: how current and anticipated interest rates are affecting commercial real estate investments and development projects. Inequality and Market Barriers: Address the pressing issues of housing, debt, and wage inequality, and their implications for market accessibility and investment viability. Capital and Opportunities: Uncover potential investment opportunities and discuss capital availability, helping you better understand where to direct your resources for maximum return. Tune in to this strategic discussion to gain a thorough understanding of multifamily investments in Canada, and equip yourself with the knowledge needed to navigate the complexities of the real estate market. Whether you're an investor, analyst, or enthusiast, this episode is packed with essential insights that will help you make informed decisions and identify emerging opportunities in the market. Book a 30 minute discovery call: https://calendly.com/mark-baltazar/discovery   Passive investment opportunities. Click > Apartment Fund Multifamily Advisory & Mentorship. Click > Advisory & Mentorship Looking to buy an apartment building?  Click > VIP Buyers Access Looking to sell an apartment building?  Click > Building Sellers   Contact or guest: Isaiah Joseph LinkedIn: https://www.linkedin.com/in/isaiah-m-joseph/ University Club: https://www.universitycluboftoronto.com/   Stay connected with us… Peak Multifamily Investments Instagram: @peakmultifamily Facebook: @peakmultifamily Facebook Group:Multifamily Investors Network LinkedIn: Peak Multifamily Investments Email: connect@peakmultifamily.ca Website: www.peakmultifamily.ca   Mark Baltazar - Co-Founder, Peak Multifamily Investments Instagram: @mark_baltazar Facebook: Mark Baltazar LinkedIn: www.linkedin.com/in/mark-baltazar Email: mark@peakmultifamily.ca   Mike Rockall - Co-Founder, Peak Multifamily Investments Instagram: @rockallrealestate Email: mike@peakmultifamily.ca

Nick Fluellen, the Executive Managing Director of Marcus & Millichap, has been a multifamily agent since 2004, closing over 592 transactions totaling more than $5.1 Billion. He leverages the firm's platform and industry connections to optimize returns for clients, holding a CCIM designation and a master's in Land Economics and Real Estate from Texas A&M, along with being a licensed broker. Fluellen's achievements include eleven National Achievement Awards and recognition as a "Power Broker" by D CEO Magazine. Known for his strategic approach and track record of maximizing client returns, he stands out as a top performer in real estate. Outside work, he enjoys sports and community activities with his family. To get in touch with Nick, reach out to him on this website: https://multifamilyadvisors.com/contact-us/ 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

This episode features the latest news on pharmacy net lease assets with Jason Pongsrikul, Founder & Managing Principal at Pharma Property Group.The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. In this episode, Crexi's Ashley Kobovitch sits with Jason to talk about all things pharmacy, including  how interest rates and inflation are impacting the sector, actionable entrepreneurial advice for brokers looking to get into pharmacies, status checks on the largest net-lease tenants, and much more. Their wide-ranging conversation includes:Introductions: Welcome to The Crexi PodcastMeet Jason Pongsrikul: A Trailblazer in Drugstore Property InvestmentsJason's Journey: From Pharma Sales to CRE PowerhouseThe Art of Listening: Jason's Key to Success in CREFounding Pharma Property Group: Challenges and TriumphsInvesting in Pharmacies: Trends, Challenges, and OpportunitiesNavigating the Future: Pharmacy Sector Insights and StrategiesRapid Fire Questions: Investment Insights and Tools for SuccessParting Words and How to Connect with Jason About Jason Pongsrikul:Jason Pongsrikul formed Pharma Property Group in 2012 and, since that time, has closed roughly $2 billion in drugstore properties occupied by Walgreens, CVS, and Rite Aid. His extensive track record includes over 300 drugstore property sale transactions and over 1,500 drugstores underwritten with property values totaling $5 billion. These credentials make Jason one of the most experienced drugstore real estate brokers in the history of triple-net investments. Before forming Pharma Property Group, Jason worked at the nation's largest CRE investment brokerage company, Marcus & Millichap. He was a former top 30 producer for the firm out of over 1,300 agents nationwide. He has also served as VP of Acquisitions/Dispositions for a national single tenant net leased built-to-suit developer and as a District Manager for one of Johnson & Johnson's largest pharmaceutical companies, Ortho-McNeil.  Jason graduated from the University of San Diego with a bachelor's in accountancy. He was captain of the tennis team in both his junior and senior years, leading the team to multiple Division I NCAA tournament appearances. He is a proud native of San Diego and is married with two sons. If you enjoyed this episode, please subscribe to our newsletter to receive the very next one delivered straight to your inbox. For show notes, past guests, and more CRE content, please check out Crexi's blog. Ready to find your next CRE property? Visit Crexi and immediately browse hundreds of thousands of available commercial properties. Follow Crexi:https://www.crexi.com/​ https://www.crexi.com/instagram​ https://www.crexi.com/facebook​ https://www.crexi.com/twitter​ https://www.crexi.com/linkedin​ https://www.youtube.com/crexi

There's been a lot of debate about the state of the economy and so many questions about where we're headed next. Are we going to see banks tumbling because of commercial loans that can't be refinanced? Are we headed into a recession because of high interest rates? What's going to happen with the housing market as demand keeps pushing home prices unaffordably higher? Are they ever going to come down?    In this episode, you'll be getting answers to all those questions and many more from one of my all-time favorite guests, John Chang of Marcus & Millichap. I've been lucky enough to be on his side of the table during debates at the Best Ever Conference, which is coming up, by the way. If you haven't bought a ticket, do it. I'm not being paid to say this. I just love that conference and I will be there. John Chang will also be speaking there and you won't want to miss it. But he's also here with me on the Real Wealth Show.   So here's a little bit about John. He serves as the National Director of Research Services for Marcus and Millichap. He's become a leading source of market analysis, insight and forecasting, and is responsible for the production of his company's vast array of commercial real estate publications. They cover all major commercial property types including hotels, industrial, manufactured housing, multifamily, office, medical office, retail multi-tenant, retail single-tenant, self-storage and senior housing.   Join RealWealth for more information and insight about the single-family rental business, and be sure to subscribe to this podcast for some of the best expert interviews on the internet!   Thanks for listening! Kathy  

This episode covers deal insights and need-to-know trends in Tampa Bay's net lease market with Ari Ravi of RIPCO Real Estate.The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. Host Ashley Kopovich sits down with Ari Ravi for an in-depth discussion on his journey and expertise in commercial real estate. Ravi reflects on lessons learned from his career path and shares insights into the importance of mentorship, relationship building, and a client-focused advisory mindset in the CRE sector. The conversation also covers the resilience and opportunities in the CRE market, particularly in net lease assets and the evolving dynamics of the Tampa Bay area as a desirable investment location. Their wide-ranging discussion includes: Meet Ari Ravi: His Journey Through Commercial Real EstateAri's Origin Story: From Door-to-Door Sales to CRE SuccessThe Power of Mentorship and Learning from FailureBuilding a Career in CRE: Hard Work, Commitment, and BalanceInvesting in Relationships: The Key to Success in CREStarting Strong in CRE: The Value of a Tough MarketTeam Development and Leadership: Ari's ApproachBuilding a Supportive Team: The Importance of MentorshipThe Power of Respect in Professional RelationshipsNavigating the Tampa Bay Real Estate Market: Trends and InsightsThe Resilience of Net Lease Assets: A Deep DiveThe Impact of Economic Conditions on Real Estate InvestmentsRapid Fire Questions: Insights from a Real Estate ExpertFinal Thoughts: The Best Time to Enter Real EstateAbout Ari Ravi:Ari Ravi joined RIPCO Real Estate Services in December 2022 with a focus on investment sales for multi-tenant and single-tenant assets.Ari entered the commercial real estate industry with Prudential Commercial Real Estate FL in 2008 specializing in sales and leasing for office and retail buildings in the Tampa Bay MSA.  From 2013-2019 at Marcus & Millichap, Ari was an investment sales agent before moving into a Regional Manager position overseeing the Tampa office until 2019, where he experienced revenue growth every year.In 2019, Ari joined CBRE where he specialized in investment sales with a focus on multi and single tenant retail/office assets. During his tenure at CBRE, he closed approximately $200 million in transaction volume.Ari received his bachelor's degree from the University of Florida's Warrington College of Business.  Previously, he attended Berkeley Preparatory School in Tampa. If you enjoyed this episode, please subscribe to our newsletter to receive the very next one delivered straight to your inbox. For show notes, past guests, and more CRE content, please check out Crexi Insights. Ready to find your next CRE property? Visit Crexi and immediately browse hundreds of thousands of available commercial properties. Follow Crexi:https://www.crexi.com/​ https://www.crexi.com/instagram​ https://www.crexi.com/facebook​ https://www.crexi.com/twitter​ https://www.crexi.com/linkedin​ https://www.youtube.com/crexi

Today's episode is from Mobile Home Park #79 that originally aired on Oct. 10, 2017. Stephanie started her broker career with Marcus & Millichap specializing in manufactured housing communities. Today, Stephanie is a Partner at IDI Properties where her team specializes in mobile home park and multi-unit investment brokerage. She has set herself apart from other industry brokers through transforming how mobile home parks are marketed and her dedication to educating others about mobile home park investing with her publications.   ☑️ Recommended Resources: Check out our company and our investment opportunity by visiting www.SunriseCapitalInvestors.com Self DirectedIRA Investment Opportunity–Click Here: https://www.advantaira.com/partners/s... To Learn More About How You CanInvest With Us Through Your SDIRA Accredited Investors Click Here: https://sunrisecapitalinvestors.com/ to learn more about partnering with me and my team on Mobile Home Park deals! Grab a free copy of my latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park...and how to avoid them MobileHomeParkAcademy.com Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2

Adobe shares are falling on weak guidance, but the stock is still outperforming Tesla. Big Technology's Alex Kantrowitz discusses whether Adobe should replace Tesla in the Magnificent 7. Plus, the commercial real estate risk continues to rise. Marcus & Millichap's Hessam Nadji weighs in on the outlook. And, Disney+ is out with Taylor Swift's "Eras" movie today. The Hollywood Reporter's Alex Weprin dives into what this means for the streaming landscape.

It's time for an economic temperature check for the self storage industry, and who better to share his insights on this than John Chang from Marcus & Millichap. Where are we now? What should we expect with the recession, occupancy, street rates, or construction? How should operators be approaching pricing, expanding, or investing? What should self storage be concerned with in the next year? All this and more is tackled by our experts. Plus, we take a ton of LIVE questions from one of the largest audiences Gabfocus has ever seen. Don't miss this special rebroadcast episode. Hosts: Tommy Nguyen & Melissa Huff Guest: John Chang (Marcus & Millichap) Brought to you by the teams at StoragePug and Lighthouse Storage Solutions

Craig Patterson and Martin Moriarty, Senior Vice President at Marcus & Millichap, discuss the dynamic nature of Vancouver's retail market and growth. Moriarty sheds light on the transformation of key areas like the luxury zone along Alberni Street, the vibrancy of Robson Street, and the promising developments around Granville Street. He notes the arrival of high-profile brands like Balenciaga, signalling a robust and diverse retail environment. In their conversation, they touch upon the significant transformations in areas like Oakridge Park and West 4th Avenue in Kitsilano. Moriarty speaks about the comprehensive redevelopment of Oakridge Centre into a mixed-use space, highlighting the expected influx of luxury retailers and the positive impact on the city's retail landscape. The discussion also covers the evolution of West 4th into a hub for direct-to-consumer and outdoor brands, reflecting the street's unique identity and its appeal to a millennial demographic. Patterson and Moriarty then discuss the challenges and successes in revitalizing areas like Gastown, noting the recent upturn in retail activity and the potential pedestrianization of Water Street. Martin expresses optimism about the future of Vancouver's retail sectors, underlining the city's growing appeal on a global scale and its ability to attract diverse international retailers. The conversation concludes with a positive outlook on Vancouver's continued growth and its evolving role in the global retail marketplace.Interviewed this episode:Martin Moriarty, Senior Vice President at Marcus & MillichapMarcus & Millichap This podcast is the audio version of the The Interview Series video podcasts by Retail Insider Canada are available through our Retail Insider YouTube Channel where you can subscribe and be notified when new video episodes are available. Subscribe, Rate, and Review our Retail Insider Podcast! Follow Craig:LinkedIn: www.linkedin.com/in/CraigPattersonTorontoInstagram: @craig_patterson_torontoTwitter: @RI_EICFollow Retail Insider:LinkedIn: www.linkedin.com/company/Retail-InsiderFacebook: https://www.facebook.com/RetailInsider/Twitter: @RetailInsider_Instagram: @Retail_Insider_CanadaListen & Subscribe:Apple PodcastsSpotifyOvercastStitcherShare your thoughts!Drop us a line at Craig@Retail-Insider.com. You can also rate us in Apple Podcasts or recommend us in Overcast to help more people discover the show!Background Music Credit: Hard Boiled Kevin MacLeod (incompetech.com). Licensed under Creative Commons: By Attribution 3.0 License. http://creativecommons.org/licenses/by/3.0/

Will and his twin brother, Evan got their start in commercial real estate in Marcus & Millichap's Raleigh office. In just two years at the company, they completed over 50 investment sales transactions totaling over $200 million, forming the region's top team. In Spring of 2017, they enrolled in Columbia University's Masters in Real Estate Development program, where they were named co-recipients of the Hank Bell Entrepreneurship Award, the program's highest honor.    In this episode we talked to Will about him and his twin brother's investment journey and the scale of their business today, how dynamic the investment strategies will be in contrast to the market dynamics, building a company versus building a service, lots of insightful advice and much more.   Announcement: You can join the Apartment Investing Mastermind here.   Investment Strategies;   02:32 Will's background; 05:11 How the Matheson brothers work together; 08:10 The scale of the business; 11:03 How the strategy changes in contrast to the market dynamics; 12:17 Building a company vs. a service; 17:07 Advice for new entrants; 26:01 An insight on student housing; 30:02 Round of insights     Announcement: Download Our Sample Deal and Join Our Mailing List   Round of Insights   Apparent Failure: #1: Getting laid off. #2: Not accomplishing his first property acquisition the right way. Digital Resource: Any of the “to-do list” apps. Most Recommended Book: Letters of a Businessman to His Son. Daily Habit: Crossing off items from the to-do list. #1 Insight for getting started in multifamily investing: Starting small and slowly building up from the returns. Best Place to Grab a Bite in South Carolina: Lewis Barbecue.    Contact Will: will@mathcap.com - LinkedIn   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.  

Follow Mike & Shawn on Instagram! Shawn: @shawn_dimartile   Mike: @miketighe_ Today's guest is Jamison Wheeler.  Jamison is a broker for Marcus & Millichap and based in San Diego California.  He grew up in Topeka, Kansas, joined the military, and was stationed out in California where his real estate adventure began after getting his license.  He is now an established broker in San Diego for the #1 commercial real estate investment brokerage and capital markets services firm in North America. Here's what you'll get out of the episode: What cap rates and values he's seeing in the San Diego market today Trends in syndication for multifamily real estate His opinions on the tenant-right laws Jamison's favorite markets and submarkets to invest in right now Broker strategies in the San Diego market How to connect with Jamison: LinkedIn: @Jamison Wheeler Website:  Marcus & Millichap San Diego Phone: +1 (858)-373-3216 Learn more about Mike and Shawn: Shawn: www.investorshawn.com Mike: www.investormike.com

One factor of the M&A process that is often overlooked is… what exactly happens to my real estate after I sell my business? Do the consolidators buy that too? Here to discuss all things collision real estate here with us today is Spencer Ward, an Associate with Marcus & Millichap focused on collision repair real estate investment sales. We'll talk about what's happening in the industry from a real estate perspective, what happens with your real estate after selling your business, and much more. Enjoy the show! Contact Spencer Ward: Phone: 713-452-4306 Email: spencer.ward@marcusmillichap.com Social: https://www.linkedin.com/in/spencerdward/

Do you want to start your real estate career on the right track? Dive into this episode with Will Matheson, where he dishes out invaluable tips for novice investors. Plus, he'll share a mind-boggling story about a deal closure that'll make heads turn, so press that play button now!     Key takeaways to listen for The best place to get capital to acquire your first property Why starting out small is the best step for beginner investors Steps you can take to keep scaling your real estate business Expert outlook on property acquisition in 2023 How the Lowcountry Veterans Home provides assistance to Veterans     Resources mentioned in this episode Silicon Valley Pacific Heights Lowcountry Veterans Home     About Will Matheson Will graduated from Columbia University's Masters in Real Estate Development Program in 2018. He is a managing partner and co-founder of Matheson Capital and is primarily responsible for overseeing all company operations, sourcing investment opportunities, and investor relations. Prior to Matheson Capital, Will worked as a broker at Marcus & Millichap in Raleigh, NC, where he was an integral part of the top team in the region.     Connect with Will LinkedIn: Will Matheson Email: will@mathcap.com     Connect with Leigh Please subscribe to this podcast on iTunes or the Podcasts App on your phone, and never miss a beat from Leigh by visiting https://leighbrown.com. DM Leigh Brown on Instagram @ LeighThomasBrown.   Subscribe to Leigh's other podcast Real Estate From The Rooftops     Sponsors Leigh Brown University – New On-Demand Training How to Dominate During This Recession! Enroll Now to get ahead of the curve and learn how to manage changing markets, the action steps for what to do, and most importantly, what to say so that you can secure listings, assist more buyers, and grow your business no matter what the market is doing.   Link: http://dominatethisrecession.com

Nick Fluellen heads up a 23-person team of brokers with Marcus & Millichap in Dallas. He gives us a 20-year perspective on today's “choppy” market of apartment sales and investing. Wes Racht, is a valued member of Nick's team, and sells large 1980's-and 1990's built apartments in North Texas. Nick and Wes share up to the minute information on how buyers and sellers are approaching this market. Nick reminds us that apartment buyers…for the last few years…have been asking for a market adjustment (because they thought the market was too high!) today…your adjustment is here!! Is it time to be opportunistic? To contact Nick Fluellen: nick.fluellen@marcusmillichap.com To contact Wes Racht: wes.racht@marcusmillichap.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker's Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

Target reports earnings this morning after warning of a potential revenue slump back in May. Keybanc's Bradley Thomas previews the results. Plus, commercial real estate may be at risk as the U.S. assesses its credit rating. Marcus & Millichap's Hessam Nadji discusses. And, the markets have been declining so far this week amid a seasonal rough patch. Van Lanschot Kempen's Anneka Treon and ProShares Advisors' Simeon Hyman explain.

To access a FREE collection of resources, go to www.TheMaverickVault.com   If you need help kickstarting your multifamily real estate career, catch this episode with Joe LaFleur as he talks about the current state and trends of the market. From selecting reputable syndicators to evaluating potential opportunities, learn how to make informed decisions and seize the best deal by tuning in!     Key Takeaways From This Episode What sets effective real estate syndicators apart from those who do it poorly? Borrowing strategies and trends in multifamily real estate A checklist for assessing potential investments and sponsors  Expert outlook on the current housing market  Why you need clarity and vision to reach your goals     References/Links Mentioned Buy Back Your Time by Dan Martell | Kindle and Hardcover  The Real Estate Game by William J. Poorvu and Jeffrey L. Cruikshank | Hardcover The Real Estate Turnaround by Craig Hall | Paperback and Hardcover     About Joe LaFleur Joe is the proud founder and owner of 100Units.com. His official title is Multifamily Investment Advisor, but as a small business owner, he does anything needed to support the success of his team and clients. He believes, "If you take care of clients first, everything else takes care of itself." Joe's professional career began after college in electrical engineering before moving to the real estate business. He worked in real estate for Stirling Sotheby's and Marcus & Millichap, which soon led Joe to his true passion: multifamily investment real estate.     Connect with Joe Website: 100Units LinkedIn: Joe LaFleur | 100Units.com    Facebook: 100units.com Instagram: @100units    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. 

Joey Tumminello with Marcus & Millichap's Institutional Property Advisors Group shares his insight on what the “smart buyers” (REIT's, pension funds, life insurance and large family offices) are buying or NOT buying. Institutional-grade real estate is Class A or Class A+ property that generally has minimal risk of deteriorating or becoming obsolete during the investment holding period because the properties are brand new, have state-of-the-art systems, and the best amenities. These type of buyers set the pace for the entire industry with buying or selling.   To contact Joey Tumminello: jtumminello@ipausa.com   Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker's Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

Today's Episode features Dedee Boring    As a self-storage and multifamily investor, deal sponsor, and commercial real estate investor, Dedee Boring is dedicated to building wealth through strategic investments. Dedee is also the founder of the Women in Multifamily Association, connecting women in the industry and fostering collaboration. -------------------------------------------------------------- Starting a Networking Group [00:00:00] Challenges in Multifamily Investing [00:01:13] Lessons Learned in Partnerships [00:05:17] Networking for Women in Multifamily and Storage [00:08:02] Starting a Women's Group in Multifamily [00:10:48] Empowering Women to Invest in Real Estate [00:13:45] Starting a Women's Multifamily Networking Group [00:16:18] Challenges in Multifamily Investing and Pivoting to Self-Storage [00:17:03] Approaching Building a New Team for Storage Investments [00:19:11] -------------------------------------------------------------- Connect with Dedee:  Web: https://boringandco.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: Dedee Boring(00:00:00) - I started a networking group here in Austin. It was supposed to be women in multi-family Austin. Um, but then, and the reason it was I started going to these different, um, events and noticing that maybe there would be one woman on a panel and maybe one speaker, but for the most part it was 90% men, 10% women. And then looking out in the crowd thinking, what did they just not come today? Or where, where are girls at? Um, and so I just thought, well, maybe I know that there's some really great women out there. Let's start this little networking group and see what we get. Welcome       Intro (00:00:35) - 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 (00:00:48) - Dedee Boring is a self-storage and multi-family investor, and she's dedicated to building wealth through strategic investments. Deedee is also the founder of the Women and Multifamily Association connecting women in the industry. Deedee, welcome to the show.   Dedee Boring(00:01:02) - Thank you for having me. I appreciate being here.   Sam Wilson (00:01:04) - Absolutely. The pleasure is mine. Deedee, there are three questions I ask every guest who comes in the show in 90 seconds or less. Can you tell me where did you start? Were you now, and how did you get there?   Dedee Boring(00:01:13) - Well, we've had a family business for 18 years. Um, my husband and I have worked together for that long. It's been a fun time. Um, in 2020 we sold everything we had in Midland and moved to Austin and took our business with us. Um, our children were less than excited about joining in the family business, which was advertising. So we looked for something that we would all enjoy. So, and we decided real estate was where we were gonna be. Um, we pretty much got our butts kicked in 2022. Uh, we had three deals that the interest rates just tanked and multi-family. Um, and so we fought violently for those, but it didn't, it just didn't work out. Um, and so we've decided to pivot to storage and we have partnered with, uh, some really great people, pinnacle storage properties and impacts capital. And we have a storage, we just closed on a storage facility and we're looking to close on a couple more pretty soon. So we have a storage facility in Forney, Texas, which is right outside of Dallas. Um, and it's about 75,000 square feet. Okay.   Sam Wilson (00:02:21) - Okay. Very cool. Well, let's hear, let's hear this kind of, um, not transition, but, but how this evolved. So you, in 2020 you said, Hey, we're moving to Austin. Uh, you're leaving the oil fields moving to, I guess, you know, what's, what's Austin now? The tech city I guess, if you will. I don't know what Austin is. Yeah, yeah. There's   Dedee Boring(00:02:38) - Austin's Hill country. It's beautiful. And w where we were living is just not very pretty. Right. And, uh, my, all of our kids graduated from high school. Our youngest one was going to school and we said, you know what? We've done our time in Midland, Texas and we're gonna go to someplace pretty and it's very pretty here. So we decided that's what we're gonna do. So while everybody else was un under quarantine, we were moving   Sam Wilson (00:03:02) - . Yeah. Well there's a lot of people doing that in quarantine, uh, as well seeking, seeking a greener pasture elsewhere. That's really cool. You decided to get into real estate. What were some of the things that you feel like you did right? And then maybe we can talk a little bit about 2022 in your terms, uh, kicked your butt. So what, what were some, some things you feel like you did well there? Learning and then getting involved in commercial real estate?   Dedee Boring(00:03:26) - I think we did well by getting into a mentorship program where we had people, um, encouraging us and teaching us the business. I think, um, we have, we were, we're very good at underwriting properties. We have a template that we've gotten very good at. We, we underwrote the heck out of a lot of properties before we ever put a L o I on anything, just to make sure that we knew what we were doing. So I, I think we evaluated the market as much as we could. Um, and we tried to pick partners. We thought we were, well maybe that's not something we did well, but, um,  we, we thought we, we think we have networked. I, I think our, we are as a family are, we are really good at networking and getting out there and not being shy. Um, and just getting our name out. So networking, you know, the, the cliche your net worth is, your network is your net worth. So Yeah,   Sam Wilson (00:04:21) - Absolutely. Absolutely. So you guys said, Hey, we're going long there in multi-family and then yeah, 2022 happened. What did that mean to you?   Dedee Boring(00:04:30) - Ooh, so we got three off market deals in a row. Um, we picked some partners that we felt were pretty solid. Um, and basically we did an l o I in May and then June interest rates start going up and we had a lender pull out and then we had a whale investor pullout. And so it was just a combination of a whole bunch of things and, you know, we've been fighting, we fought valiantly for it, um, to see if we could do it, but it just, in the long run, it just didn't work out for our investors. So we pulled, um, it was better for us to lose that money, which was a lot  to lose that money and, um, as painful as it was and learn those lessons. Um, and you know, the lessons learned were make sure you really know your partners.   Dedee Boring(00:05:17) - I mean you're, this is a marriage for five years and make sure that they're gonna, if things go bad, that they're gonna stay. Um, cuz we learned that that's not always the case. So yeah, 2022 happened and then, you know, we had thought about being in storage for a long time and just didn't, hadn't taken that plunge. And I believe it was a god thing. I got a great email sent of a property sent to me and uh, you know, and multi-family, a 14 million project is not a big project, but in storage, that's a really big project. Um, so, um, you know, I didn't really, because multi-family was the only thing I really knew. I didn't get surprised by the price. And so I've had this whole team built up and um, we went after it and it was a, you know, owner financing great leverage, great interest rate. So it was kind of a dream that's, it was great.   Sam Wilson (00:06:09) - . That's awesome. And that, was that a deal that you uncovered?   Dedee Boring(00:06:13) - Yeah, um, just through my network. So again, network, network, always stay in front of people, always. You know, it's everybody's busy. So it's not even a personal thing If an, if a broker doesn't remember who you are or remember to send you that off market deal, it's top of mind and just, I think a lot of people find that it's personal and they haven't felt that connection and they probably have, it's just a matter of the, you know, the squeaky wheel thing, just always keeping in front of people. Yeah. And making sure you're heard.   Sam Wilson (00:06:43) - Absolutely. It's funny, uh, you know, not funny cause there's nothing funny about this, uh, your experience there of losing your earnest money. I mean, uh, it's not a, it's not one that, um, is uncommon unfortunately, but I think there's, there's, there's some things there, some things there to learn. And I've always said that the last 10 years have really covered up a lot of potential mismatches in partnerships. They've covered up a lot of, I mean, gosh, the last decade almost, not exclusively, but you could throw a dart at a board, pick a multifamily property and you probably would've made money. And I've said, it's covered up a lot of those kind of mistakes and or things that, that could be mistakes. And I said, I keep saying this, I think that the tougher the times get, the more we're gonna see those kind of cracks in the foundation and or poorly formed general partnerships, all of those things.   Sam Wilson (00:07:34) - What are, what are some, and, and we, and I say this to our investors and uh, you know, to everybody else, which is the, the, the, the thing you should be evaluating is the team, like the oh yeah, the deal is the bottom, maybe 10% of the whole, the whole shoot and match it's team market. Then the deal and the deal is only 10% maybe of that equation. So tell me, when it comes to the team, you learned some lessons the hard way the first time on the team. What did you d do differently when you started picking your storage partners?   Dedee Boring(00:08:02) - So I keep saying network, network, network. I had a fabulous conversation about minions, um, with a man at a networking event for a very long time. Um, and the only thing I heard besides minions was that he was in storage, uh, that he had invested passively in storage. He wasn't even a, an active investor. Um, so when we got the deal, uh, obviously the per the seller who was also the bank on that deal wanted to know that the team that is coming in to take this deal over had experience and we did not have that. So I reached out to my network and I remembered that conversation of sitting there going, why am I here listening to this conversation? And um, and here we are and man, that guy, he's, he hooked me up. So he, we had built some trust and he felt like I was somebody he wanted to pass on to his network.   Dedee Boring(00:08:53) - And he connected me with the, the guys at Pinnacle Storage Properties, um, through a series of meetings and, you know, the evaluating the property and, and we have decided that that's something that we wanna continue doing after this project. Uh, but we've worked on it to the point where we've had meetings where we come in and say, okay, this went well, this didn't go well, how could we do better in the future? And just that willingness to be able to do that and to want to do that is something that we haven't necessarily had in previous relationships. So, um, we, that was very important to us this time around that we do that. Um, I did have a really great mentor that I, her name is Kim Winland with Quatro Capital. I don't know if you've ever met her. Um, and she, well, she, right out of the gate, she's like, network as much as you can get to know all these people, it's a small world in the multi-family space, in the storage space that's even smaller.   Dedee Boring(00:09:53) - Just get to know all these people. You'll figure it out who's gonna, who you wanna do business with and who you don't. And she couldn't have been more. Right. Couldn't have been. I mean, so yeah, so now I'm just trying to help others, um, with their women's group, , trying to help others understand that network. I got it. Uh, Kim Winland paid it forward for me by mentoring one-on-one for free. She didn't have to do that. Um, and so I started a networking group here in Austin. It was supposed to be women in multi-family Austin. Um, but then in the reason it was I started going to these different, um, events and noticing that maybe there would be one woman on a panel and maybe one speaker, but for the most part it was 90% men, 10% women. And then looking out in the crowd thinking where did they just not come today or where, where are girls at?   Dedee Boring(00:10:48) - Um, and so I just thought, well maybe I know that there's some really great women out there. Let's start this little networking group and see what we get. Um, I had never met a female broker here I had, so, and I don't know that there is one like a Marcus Millichap, j Lll woman broker here in Austin. Um, so I looked at a property in Houston and there was this beautiful woman that's a broker there who's a unicorn cuz you know how many women brokers are. So she was kind enough to say that they would love to host a win in Houston. And then from there it just grew. So it, and now we're in Dallas, San Antonio, Houston, Austin, Denver, and we start Seattle and Raleigh next month.   Sam Wilson (00:11:29) - Whoa. Whoa. That's, that's a really cool story I think for anybody looking to start a meetup group. I mean, there, there, there had, and, and you, you know, your family business of marketing and advertising and cert certain has played a role in helping you get that launched. But I mean, that's gotta be intimidating, especially coming off the heels of, you know, getting your teeth kicked in in 2022. Like it was, was there any kind of self-doubt that was like, who am I to start this? And then if so, how did you overcome it?   Dedee Boring(00:12:00) - So I think women have a, they struggle, especially more than possibly men do with imposter syndrome, so Of course. Um, yeah, and I, I think that, I mean, I heard something somewhere that men need to only qualify for like 60% of a job and they'll apply for it where women want a hundred percent of the qualifications before they'll apply for it. Um, so of there is, I've never gone into this network where I was the guru or the the person that knows it all. I have always gone into it as, hey, we're here together, let's skip people that know more than we do to come in and speak and learn altogether. Yeah. And through that we're building a foundation of trust, which is what our five core values are. Our trust, identity, belonging, purpose, and thin competency. So instead of coming in and saying, I have all these storage units and I do this, and then you should trust me because I have that, which I do feel like some networks do, they, you know, they build it on their competency, which is great, uh, for them.   Dedee Boring(00:12:57) - But we're, we're gonna go with help trust, uh, and build this group of women that we can all trust to collaborate with and network with. And, and because we just know that together we can do more. That's our slogan. Um, and and that's really, women love to do work together and build teams and that's just kinda how we are. So it's exactly what's happened. Um, what was a surprise from this group is after going to these towns, um, Austin's very savvy investors. Uh, they're lots of short-term rentals, lots of, um, single family flips. Austin is a group of women that really have been investing for a long time. So, but I would, as I ventured out even to Dallas and to Houston, um, I realized that there's a lot of women that don't know that how to invest or they've been, they've had generational limitations put on them.   Dedee Boring(00:13:45) - Um, generational limitations being that, and you're from the south, um, that the man is the head of the household, that they control the money that, um, you know, and so I've heard story after story of women who have gotten divorced and they had nothing, no credit in their name, no, didn't, don't have a bank account. And they're starting from scratch. And so they've made a big first step of getting to the door and coming into the room to hang out with other investors and learn. But, um, that's been a, a side bonus to win is that component of empowering women to even remotely think about real estate investing.   Sam Wilson (00:14:22) - That's really cool. I I love that. What were some actionable steps you took to get that launched? I mean, it's one thing to dream that up. I mean, it sound like you put a lot of thought into it, everything from your core values to what your slogan is, but I mean, finding that investor, not investor, let me rephrase that. Finding that particular avatar of person that would be a great candidate for your groups. How do you do that?   Dedee Boring(00:14:50) - Well, I, I mean basically I, okay, so I used to work in children's ministry for nine years. Okay. And so, um, I used a lot of my skills from that and what I learned from there. Uh, so basically if I came up to you and I said, I need you to hang out with sixth grade boys for and teach them Jesus, teach 'em Sunday school, you would probably go , I don't think I can do that. Right? But if I said, I want you to, I feel that you're well abled and equipped to do that and I would love for you to join us and, and just see if you like it, just see if this is something you wanna do, then all of a sudden that's a lot easier, right? That's a lot easier for you to even remotely think about that possibility. So we really, we don't need these people to come to our group. We want them to, we want them to join us, we want to help them move forward. We want to grow them. So if it's, it's less of a plea of please come to my meeting, I'm more of, we really want you to come, we really want you to belong here.   Sam Wilson (00:15:47) - Right, right. No, and that makes a lot of sense. But I guess even even finding those people that aren't already part of your natural network, uh, it would seem like it's not a, not a heavy lift, but, and I'm sure it, it gets to a point where it snowballs and it's much easier where people are telling people and okay, now the groups are growing more organically, but in the beginning there has to be some sort of critical mass, I would imagine. Yeah. Hey, there's five of us. There's 10 of us that are gonna get together on a regular cadence and bring somebody in that we can learn from. Was that the way it worked or did you go about it differently?   Dedee Boring(00:16:18) - Absolutely. Yeah, absolutely. So we had a group of ladies in Austin that were our, I call 'em our OGs. And they, um, basically I said to them, no pressure. I would love for you to be a part of a board, a wink board to help get this started. Um, and we sat one day on one Saturday in January, we sat in my living room and we talked about all the possibilities, everything from an education program to conferences, what did we see? What was the big picture? I tend to be a small picture thinker, like my husband's a big picture thinker and we, that's how we work so well, is that I think about the next step where he thinks about this giants and, um, I have a lot of big picture thinkers as most real estate investors I feel like are, um, big picture thinkers.   Dedee Boring(00:17:03) - So they, you know, they want more, they, all of us have been in different networks and paid for mentorship programs. All of, we've all gained knowledge from them, not to bash anybody. Um, but we also have seen where maybe things could be different or better. Yeah. Um, or, or how would we like to see it? Um, so we have a lot of great ideas. We just got off of a, another planning session. Um, but, uh, I mean Raleigh is because of a network that I, my mentorship program that I bought into, I had met two ladies through that, that network. Um, and Seattle's the same. So basically it's leveraging other people's network is how we're growing, right? So some people are in a network that's based out of Dallas and I'm in one that's based out of Florida. So, um, I have our, my network and core people are, is just this much. And then there's all these people that have the Dallas net network, they can go through theirs. And, um, so basically leveraging everybody's network in that board that we have is how we're, how that's working. Got   Sam Wilson (00:18:03) - It. No, that make, that's really cool. I love that. And those are, those are, um, I'm probably more your big picture. I often wonder like the details, like how did somebody, and thanks for sharing that because I wonder that like how do you get from not critical mass to now, you know, opening up multiple chapters in multiple cities. And that was really super helpful there. We've got just a few minutes left here and I want to kind of circle back to our conversation on self-storage. This was a, this was something I thought of and and didn't get a chance to ask you. It's one, it's one thing to bet a sponsor, right? And to figure out, think there's enough sponsor checklist, how to beta sponsor checklist, things like that, which are very, very helpful. Um, but it's another thing for a sponsor to vet you. When that sponsor comes to you and you say, cuz and I, and I'm at, at this juncture now where, you know, people are coming to me saying, Hey, we'd love to capital raise for your next fund. Here's how this works. And I've not, I've always been that partner that's partnered with the sponsor and now I'm doing it in reverse. I'm curious, what were some of the things that the sponsor did to get to know you and make sure that you were a good fit for what it was that they were doing?   Dedee Boring(00:19:11) - These guys, um, pinnacle, I don't know how to describe them more than they're just some good old Texas boys and they're salt of the earth people. Um, so for them it was just being very transparent and honest. So I, I think if I had come in and said, we're we're the best and we want a huge part of the deal and, you know, and I couldn't really back that up with my storage experience, could I, um, so being able to be very transparent on our process, um, and what we're trying to gain from it. And uh, and all the way through, uh, you know, we've have, we had some issues and hiccups of, of course, so, um, I'm the person that really talks back and forth with all of the partners in the deals. So, um, you know, two of 'em are kind of, um, real abrupt in how they communicate and one is very passive and likes to kind of dance around the subject before.   Dedee Boring(00:20:06) - And so I'm the mediator that manages those communications. Um, and that, I think that's probably one of my skillsets for, for that. Um, but really it was a matter of can you handle that? Can you handle their personality and could they, cuz they could handle mine cuz I'm fairly easygoing, but could they handle, could we work with them? Do I know what it takes to get along with them and do they know what it takes to get along with me? And so it doesn't take much try to feel like I'm pretty easygoing, but I I think that there's a lot of people that are harder to get along with and these guys have a system and we respected that and we did not try to, um, probably get more than we should have gotten out of the gate, uh, because we didn't, we're learning from them. So I, we respect their authority in the space and I think that's really important to really respect that authority in the space.   Sam Wilson (00:20:56) - Yeah, that's, uh, that's, that's a great, uh, absolutely great point. Deedee, this has been a lot of fun. Thank you for taking the time to come on the show today. Certainly learned a lot from you. Thank you for also taking the time just to share your kind of battle scars if you will here No problem. From launching into the commercial real estate space. It's not for the faint of heart and clearly you are not faint of heart cuz you're still doing it and uh, still doing it. Still doing it. You forged your own path. You've given us great ideas on how to start a networking and meetup group. Kind of some of the things it takes to get that you give, give us kind of real, real practical steps on how to get those, uh, started and launched as well. So again, thank you for coming on the show today. I do appreciate it If our listeners wanna get in touch with you. Yeah, absolutely. If our listeners wanna get in touch with you and learn more about you, what is the best way to do that?   Dedee Boring(00:21:40) - Well, you can go to boring and co.com. Um, our last name really is boring. Um, and you can schedule a meeting with me anytime. So I don't know if I have any of my information up on the screen or with you, but boring and co.com has all of that   Sam Wilson (00:21:55) - Boring and co.com. We'll make sure to put that right there in the show notes. Deedee, thank you again for coming on. I do appreciate it.   Dedee Boring(00:22:01) - All right, thanks so much.   Speaker 3 (00:22:03) - 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 Podcast, Spotify, Google Podcast, whatever platform it is you use to listen. 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.      

My guest today got his start in real estate as a broker for Marcus & Millichap in Raleigh, North Carolina before starting his own real estate firm with his twin brother. Will Matheson went from zero to $100 million in assets under management in just four years, and he's done it through multifamily and student housing investments. Today we'll take a closer look at student housing, get insight into working with family offices and institutional funds, and learn how Matheson Capital plans to achieve their goal of $1 billion in real estate by 2027. Find out more: https://www.mathcap.com/ www.linkedin.com/in/wlmatheson/ 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

Today's Flash Back Friday Episode is from Episode #268, which originally aired on March 31, 2020. Max Sharkansky is the co-founder of Trion Properties and oversees all aspects of acquisition, disposition, and property analysis for the firm. Since founding Trion Properties, Max has led the acquisition, renovation and disposition of over $300,000,000 in mismanaged and distressed assets. Prior to co-founding Trion Properties, Max was a Senior Associate at Marcus & Millichap from 2002 through 2006. While at Marcus & Millichap, Max managed the sale of several million dollars in real estate throughout the continental United States, specifically in the multifamily arena, elevating him to one of the top-ranking brokers in Los Angeles. Recommended Resources:  Accredited Investors, you're invited to Join the Cashflow Investor Club to learn how you can partner with Kevin Bupp on current and upcoming opportunities to create passive cash flow and build wealth. Join the Club! If you're a high net worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.  Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.  Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast. Learn more about Kevin's investment company and opportunities for Lifetime Cashflow at sunrisecapitalinvestors.com.

When something wild happens in the markets, there are a few people I have on speed dial… John Chang is one of the first. Today, we cut through the over-sensationalized headlines and give the cold hard facts about what is going on in the banking sector and how it affects real estate.  We even get his predictions where rates will be at the end of the year! John serves as the National Director of Research and Advisory Services for Marcus & Millichap, and is a leading expert in all things economics. The current issue with banks is not 2008… The GFC was a cascade that ran through the entire banking system, but what is currently happening is more like a sinkhole that gobbled up a few banks with acute problems.  However, the silver lining to the whole situation is that it caused The Fed to blink.  Tune in to today's episode to hear what that means for your investments, deal flow, and business going forward! Take control, Hunter Thompson Resources mentioned in the episode: Website 1. John Chang LinkedIn Interested in investing in ATMs? Check out our webinar.   Please note that investing in private placement securities entails a high degree of risk, including illiquidity of the investment and loss of principal. Please refer to the subscription agreement for a discussion of risk factors. Tired of scrambling for capital?  Check out our new FREE webinar -  How to Ensure You Never Scramble for Capital Again (The 3 Capital-Raising Secrets). Click Here to register.   CFC Podcast Facebook Group

Today's guest is Kunal Dewan    Kunal discovered his passion for real estate in 2010 when he acquired his first rental property in Southern California, while still working full-time as a civil-structural engineer. Over the next decade, he utilized his engineering and management skills in construction and value-add projects to invest consistently in rental real estate, building a strong cash-flow portfolio.  -------------------------------------------------------------- [0:00] Intro  [0:42] The 3 questions  [1:28] Multifamily  [6:00] The 3 myths of passive investing  [12:15] Too much value-add?  [20:00] Types of debt  [23:42] Closing -------------------------------------------------------------- Connect with Kunal:  Linkedin: https://www.linkedin.com/in/kunaldewan/ Facebook: https://www.facebook.com/dewan.kunal 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: 00;00;00;02 - 00;00;20;20 Kunal Dewan So the number one myth the president has to go through, they look at the property, they look at the market, the business plan, but they don't look at the property manager. You're the actual person who's going to make your dream a reality. They don't look at the leasing agent. They don't look at the regional.    00;00;20;20 - 00;00;23;29 Intro  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 Kunal Diwan is an engineer by education, an entrepreneur by choice, and a real estate investor by passion. Gardner Welcome to the show.   00;00;41;11 - 00;00;42;29 Kunal Dewan Thank you. Excited to be here.   00;00;42;29 - 00;00;53;03 Sam Wilson Sam Absolutely. The pleasure is mine. Kunal There are three questions I ask every guest who comes on the show in 90 seconds or less. Can you tell me where did you start? Where are you now and how did you get there?   00;00;54;29 - 00;01;28;04 Kunal Dewan I started in Southern California almost 20 years ago when I put a condo with a small condo. And the journey since then in the last two decades with my engineering background, construction background, slowly scaling up to duplex a triplex two for like two small multifamily, two syndications. And here right now in my journey, I am going towards a vertically integrated firm so that we can take down larger assets and create passive income cash flow for our investors.   00;01;28;18 - 00;01;36;29 Sam Wilson Wow. Oh, that's really, really cool. So let's let's hear what what type of assets are you buying right now, then?   00;01;38;11 - 00;02;02;24 Kunal Dewan Multifamily. I only do multifamily, Sam. I've been doing multifamily. I understand multifamily. I'm confident multifamily. About 13 years of my life. I must I used to be a structured engineer in my previous life. So used to build design and build tall building skyscrapers, you know, residential, and then went to hospitals and then to mixed use and then to multifamily.   00;02;03;01 - 00;02;09;04 Kunal Dewan And then that's when I say, you know what? This is what I want to do for the rest of my life. So I only focus on multifamily.   00;02;09;13 - 00;02;18;01 Sam Wilson I love it. I love I love the focus. Have you ever dabbled in any other asset classes or is it always just strictly been multifamily?   00;02;18;27 - 00;02;46;05 Kunal Dewan You know, I started looking into self-storage for a little bit and, you know, and I'm glad I did. As I looked into self-storage in my extended friends circle, I have friends and extended family who invest in hotels. And so I looked into that and there are car washes in their extended family. But I'm so glad I learned about all this so that I know I don't want to do that.   00;02;46;23 - 00;02;55;29 Kunal Dewan So it kind of just helped me further go deep in what I do already. So that's why I only do multifamily because I don't want to do any of those.   00;02;56;14 - 00;03;05;06 Sam Wilson It sounds like you have found the power of focus to be part of your success strategy. Can you can you speak to that?   00;03;06;22 - 00;03;32;01 Kunal Dewan Indeed. You know, I. I don't do multitasking. I hate multitasking. I'm a strong believer of one thing and just one thing at a time and just do really, really good. So it applies to be time with the family, be it business, be it anything else. Now I'm guilty. That's not how I used to be, because I started with a W-2 job.   00;03;32;06 - 00;03;59;12 Kunal Dewan I'm a first generation immigrant, right? I mean, I started with $400, 20 years ago. I had to build something while I was doing my job. So that was my engineering. And I did my residential real estate eight years ago. And then after that, I built my first business, you know, and I started out with 20 $500 to that to multiple seven figures, multiple unit while I was doing my job.   00;03;59;24 - 00;04;21;16 Kunal Dewan So that was the time where when I was realizing, you know, in my early twenties, I can do I can rule the world, I can do everything only to realize, no, you got to go deep if you want to build up. So going back to engineering, the foundation has to be wide, it has to be deep so that the structure above can be as high as you want it to be.   00;04;21;25 - 00;04;45;28 Kunal Dewan So when I quit my W-2, I went all in on my business, my first business, then I went all in on my residential portfolio and started making as a passive investment. So my business is fully passive. Great team. I have a team of 20 plus people, they manage it. My residential portfolio, I have great people, handymen, managers manage that and now I'm going all in in my real estate syndications.   00;04;45;28 - 00;05;11;19 Kunal Dewan You know, I have done for syndications in the last 12 months and there are two in the pipeline right now as we speak. So and this is all I do right now. So the power of focus is so valuable. If you want to go long and far and truly create impact, I can talk about the same in my personal life, but I think you get the point one thing and just one thing at a time.   00;05;11;25 - 00;05;34;29 Sam Wilson And just one thing, man. And I wish I had met you about five years ago, and you could have given me that speech then, because that's that has been the theme of, you know, somebody asked me this in December, and it's like I look back at everything we've done to this point and I'm like, you know, it's all going very well, but is it as great as it could be if we focused and just stated one thing?   00;05;34;29 - 00;06;00;03 Sam Wilson And so we said, Hey, what do you do in 2023 to make it more meaningful? And I said, it's going to be focus and team like we are just focusing. So I love that. I love the way you've said that one thing and one thing alone in that that can be hard to do to turn off, especially with the, you know, for the for the entrepreneurs in our in our midst like you, I can imagine that the temptation to look elsewhere because there's always good opportunities coming our way.   00;06;00;03 - 00;06;12;08 Sam Wilson That's tough to say. No, but I love I love where you say in there on focus. Let's talk about the three myths of passive investing. I know we mention this here off air, but we'd love to get your insights on what that means.   00;06;13;21 - 00;06;38;14 Kunal Dewan Yeah. So, you know, when I started into real estate syndications, where now I'm going outside my own personal equity in creating equity for other investors around me friends, family, neighbors, coworkers, and then their circle, they don't have the real estate. I call it burn out that I went through. They don't have the scars and the wounds that I went through as a landlord.   00;06;39;00 - 00;07;02;01 Kunal Dewan And Ruth's syndications have gained popularity in the last few years. I'm less than a decade, right? So and now we live in I live in Southern California, and the entry level is the bar is pretty high. And plus there's regulation and lots of red tape. So we start looking to outside California to invest and the questions coming up, you know, okay, yeah.   00;07;02;01 - 00;07;30;05 Kunal Dewan You know, 80,000 a door, $100 in the door. Great business plan. Fantastic. All good stuff. And that's what that's all. They stopped the passive investor to stop that at that level. So the number one myth that passive has to go through, they look at the property, they look at the market, the business plan, but they don't look at the property manager, the actual person who's going to make your dream a reality.   00;07;30;25 - 00;07;57;25 Kunal Dewan They don't look at the leasing agent. They don't look at the regional, you know. So that was the reason that I am going into a vertically integrated firm because now in our company, in our partnership, we know the leasing agent, right? We know the handymen and the cousin who are doing the job. There's a relationship. So the gap between the business plan and the execution, the risk gap is very small because we have the control.   00;07;58;00 - 00;08;21;18 Kunal Dewan So I encourage all passive investors. There's nothing wrong in getting a third party property manager, but look at the track record of the property manager. Look at the challenges of that property management business right now in that market. Look at the the failures and success. Right? So that's that's my number one. Number two is we talk about data a lot.   00;08;21;27 - 00;08;45;24 Kunal Dewan You know, look at the data. Look at the data. That's great. And we look at the gateway markets, you know, like L.A., Southern California, great market invest. It has some lots of troubles. But so you had the market, you have the data, I call it the selective data, the data that kind of feeds your by box. So but they don't look at the big picture.   00;08;46;13 - 00;09;09;09 Kunal Dewan And in this picture, where does the sponsor fit in? Right. So, I mean, you are you are a sponsor. You know, your market back of your hands and. Right. And you had the data for that market. I would encourage I was your passive investor. I will ask you, hey, in your market, what are the bad points? Give me the data for the bad points.   00;09;09;09 - 00;09;40;12 Kunal Dewan So people think if I invest in get me markets, my investment is secure. Nothing can be further from the truth because who who is more important than what and where? Yeah, that that's the number two myth. And the third one, my favorite. And a lot of people cannot get their head wrapped around this. And this is coming from my, my construction background in my, my value project when I did buy for myself is I call it the too much value add.   00;09;42;06 - 00;10;04;22 Kunal Dewan Every neighborhood has a cap depending on the income, depending on demographics, depending on so many different factors, you know, job and employers, there's a cap there's a cap on the rent. This cap on the even the house price that people are buying right. So people think, okay, I'm going to give I'm going to remove the the plywood. I'm going to remove the countertops and put some granite.   00;10;04;27 - 00;10;24;11 Kunal Dewan There you go. That's 80 bucks. I'm going to remove the carpet, put some laminate flooring or tile flooring. That's another 80 bucks and rent. And they keep on tacking on this and they keep on calculating the extra revenue that product will generate. Right. Well, if you look at the graph from a mathematical perspective, the amount spent and the return received, right.   00;10;24;25 - 00;10;57;01 Kunal Dewan That graph, that's a there's a 200 of your rent gap between a great product and a product that you are buying. That graph has a really high growth in the beginning of the renovation, the first 5000 are you will spend you will get instant $80, $100. And if a dollars rent bar which is great sure but the last 5000 you will spend whatever that is, you know, build an extra countertop or a wire, five, package, security pad, whatever that is.   00;10;57;01 - 00;11;19;05 Kunal Dewan The return on that last is not the same as the first, so people tend to average it out. Okay, there you go. That's my average increase in rent by the money spent in CapEx. But that's not the way to do this because the last bottom 20%, 40%, that value add is not necessary. It's not because you're past the market.   00;11;19;11 - 00;11;40;19 Kunal Dewan So look at the value add plan. Look at the market, look at the comps, the true comps. I am a passive investor myself where I invest with other people. You know what I do, Sam, was that I called the market. I called the market myself before I spend my another 100 or 250 K as a passive investor, I ask you what are the amenities?   00;11;40;24 - 00;12;07;28 Kunal Dewan And they're this like a trash valet, and then there is a pad fee. I get all of that. Now I know this is my spectrum, this is the bare minimum rent and these are all the extra things happening based on certain amenities and the finishes. Then I come back to my plot where I'm at, and then I do my math myself and then I come up with the, the sufficient value add and I look at the too much value add and then I make the decision.   00;12;08;03 - 00;12;15;01 Kunal Dewan So that's my number three myth that every passive investor should consider before sending that money to the sponsor.   00;12;15;01 - 00;12;41;09 Sam Wilson Love it. I love it. That's a great that's a great very simple to understand, but great points you made there on, you know, the three myths that of passive investing. But let's let's talk about this too much value add maybe a little bit more in detail. When you say that, is this is this subjective? As in you say, okay, you know, each property is going to have its own version of too much value add?   00;12;41;24 - 00;13;04;17 Sam Wilson Or are there things that you see kind of across the board that sponsors are doing, such as the I don't know, the things you mentioned there, you know, wi fi packages, security cameras, etc., that just aren't getting that same return on investment that other things like flooring and countertops might. Or is it again, you know, the beginning question, is it a subjective thing or it's a property by property basis?   00;13;06;00 - 00;13;14;07 Kunal Dewan Yeah. So great question. Easy answer is it's a half, half art and half science.   00;13;14;13 - 00;13;14;23 Sam Wilson Okay.   00;13;15;11 - 00;13;38;13 Kunal Dewan And the way to look at it is, let's say you have two exactly same properties, literally on one side of the street, right, facing each other, exact same unit count mix, yada, yada, yada, right. And assuming the demographics do not change between the 40 foot wide street, right? Because demographics can change drastically, especially in big markets where you had where we are.   00;13;39;01 - 00;14;03;10 Kunal Dewan So assuming all that right now, you look at a small one mile radius, it's a long answer to your short question. But I really want to give some inside the way I look at you'll get a one mile radius. Don't go too far. Just one mile, and you can get the income and the demographics and even sometimes the number of people from depending how far you are from the census in that neighborhood, right?   00;14;03;16 - 00;14;28;23 Kunal Dewan Then you go three mile and you go five miles. So if you can draw these circles based on this income, you know, whatever your cap is, my cap is 33%. 33% is my maximum rent a family would pay. Right? So I backtrack. This is my maximum spendable money on the rent or other expenses, plus -2 to 3%, including amenities.   00;14;29;00 - 00;14;58;05 Kunal Dewan So let's say if the income is $100,000, that's $33,000 plus minus two three. That's a 36. That's three grand a month. So I'm talking here in Southern California, right? I invest quite a lot in Central Coast in California. So let's say $100,000, $36,000 is my total spendable money when it comes to rent and related expenses. So three grand a month, these two properties, this property is renting out, let's say 20 $900 with some basic finishes.   00;14;59;15 - 00;15;32;13 Kunal Dewan My property has older finishes and I can pump it up with some flooring and some current up, some nice paint to 30 $100. Right. I'm already ahead of my my underwriting and the market. Yeah. Anything over is not going to create a huge return without compromising my economic vacancy or physical vacancy provided the income in my one mile radius.   00;15;32;13 - 00;15;53;25 Kunal Dewan The math that I did is changing. So I look back five years or ten years. If the income is changing, the growth in the income is high enough, then I'll build this in my value add plan. But if the income is growing at 2% 5%, well, I'm going to build my disposable income to a similar number. So maybe 20 bucks.   00;15;53;25 - 00;16;28;09 Kunal Dewan 30 bucks. Why would I spend, you know, taking down the walls and adding a loft size living room and a $30,000 CapEx expense when I'm only going to get 5000 dollars extra? That's what I meant by extra value. So look at these numbers at a very molecular level because real estate is not local. It's ultra local. So look at all that and then make the decision what's my right value as I draw spectrum bare minimum value add, desired value add and too much value.   00;16;28;12 - 00;16;42;17 Kunal Dewan So in every business plan of mine I have a spectrum. So when we present that to our investors, we go with the desired value plan. Many times we don't even have to do that because the rental growth is sufficient or our execution is efficient.   00;16;44;13 - 00;16;54;20 Sam Wilson I love I love that. And so even in your deal decks, you will you will put out there the one, two, three, would you call that the minimum desired and too much?   00;16;56;15 - 00;17;15;13 Kunal Dewan I do. Only two and three. So so we actually put to the lender, we talk about everything so we can have the CapEx budget ready if we need it. But internally, so we do two underwriting. One underwriting is internal that I do myself where I know, okay, this will yield here, but too much data sometimes can blindside investors.   00;17;15;23 - 00;17;24;15 Kunal Dewan So I kind of just pick one. This is the plant based on this these that returns and we know anything over is just cherry on top.   00;17;24;23 - 00;17;56;06 Sam Wilson Right right. Oh, that's really, really cool. I like I like the way you think through through that I've not quite heard this that clear of an explanation of value add. I mean you hear that term but but but the too much value add idea and how to can quantify and qualify what that is tell me about what you guys are buying in the multifamily space right now and how that has changed over the last 12 months.   00;17;56;06 - 00;18;23;21 Kunal Dewan Great questions. And we can talk about another hour on just on this topic. A lot has changed in last 12 months. You know, the the deck was cheaper. It's a whole lot easier to execute right now. We all know what the seller is asking and what actually made sense. The gap has widened drastically. I mean, I was reading a report just a few weeks ago.   00;18;23;28 - 00;18;51;27 Kunal Dewan I think the volume is down overall. Nationally, it was a multiple round. Marcus Millichap is down by like 70% or more. That's a lot. So what we are what we are buying right now, our fundamentals have not changed. 12 months ago, the last year I did, I had a reserve of almost 7% of the equity raised and this lender, not lender, required.   00;18;51;27 - 00;19;15;21 Kunal Dewan This was our reserve because we knew where the market is going and we still pretty aren't sitting on the equity right now. And I'm actually kind of moved that to a CD just as a back up. So we knew what was coming. We always have the reserves, but now the market has changing, the volume has gone down, the type of assets are coming up online.   00;19;15;21 - 00;19;47;21 Kunal Dewan The it's hard to make numbers work, but when it works, it is a super sweet deal to the asset we are looking right now. The offer is tomorrow as we speak. The going in cap is in high sixes and R and the treasuries have dropped in last few days. So the debt we are getting in survives. Midwives to be are already in positive leverage right there and the rents are lower.   00;19;47;21 - 00;20;09;07 Kunal Dewan I don't know that inside details, but I feel that the seller might not be able to execute his business plans. He just wanted to get out, which creates fantastic buying opportunities. So we'll be buying. What we're looking right now is beautiful, fantastic buying opportunities. If we don't deviate from our buy box, the investment thesis.   00;20;09;17 - 00;20;23;27 Sam Wilson Right, right. Yeah. That's in that I guess that's that's the well maybe we can talk about the types of debt you're taking on and then I want to hear what that buy boxes and why.   00;20;23;27 - 00;20;57;15 Kunal Dewan Another one of my favorite topics agency debt strictly agency that we're not doing any bridge anything like that fixed my my first syndication first investment this was late twenties 2020s early 2021 when the bridge was like two and a half or less than three. Even then I did a fixed debt and because I believe in it, it's a long term play we in we are in a long term game.   00;20;58;08 - 00;21;35;10 Kunal Dewan I'm not talking two or three years, you know, even to my investors, my average world is five and seven years. We are talking cash flowing as long as we live. If we exit, we exit. But our goal is to actually refinance and not sell. So top that we're getting is strictly agency debt by box. The buy box is my box by box cannot be the same as your buybacks for anybody else because my buy box is through the lenses of the risks that I can take and is different than yours and the risk that I can take.   00;21;35;10 - 00;22;12;28 Kunal Dewan I'm not talking aggressive, I'm talking on the lower end because this is not my money. With all my money I could be. I can do whatever I want you know, I can buy whatever car I want was for somebody putting the money on me. Oh, my God. That's I'm going to take it to the next level. So I have these extra layers, my, my underwriting, you know, I have taken the templates from over over the years and I have modified average my own macros and I wrote my own scratches so I can see the spectrum of risks every time I send an ally.   00;22;13;25 - 00;22;47;27 Kunal Dewan I know at this purchase price what will be my risk and at this purchase price, what are my risk? And the same thing with the business plan. So that by box the investment thesis is different for every person depending on their personal situation. Mine number one is cash flow. I'm a believer that if the property cash flow within year one and the debt is stable, you can ride out any downturn because the horizon is when I die.   00;22;49;21 - 00;23;13;08 Kunal Dewan So because we have we are planning a long term wealth generation. This is not a cash flow mitigates. So even like right now the deal that we're going to do this week, they're like going out tomorrow, our first year cash flow is in high sixes. Now that's just first year as the operations improve, the A.I. improved, profit improved.   00;23;13;08 - 00;23;42;21 Kunal Dewan It's going to just going to go up. So down the line, five years, seven years, we going to refinance it and then hold it for eternity and keep churning the cash flow. So that's my number one buybacks, material cash flow. And then the second is now right now in today's market is I'm not going for deep value adds, I'm going for stable and just increase it by effective operations using our vertically integrated team.   00;23;42;21 - 00;24;09;23 Sam Wilson Those two those two things sound very sound sound policy and procedure. I like I like the way you think through both of those items. Kunal This has been a blast having you come on the show today. I've learned so much from you just in the way that you guys approach assets. You are three investor are passive investor myths we've learned about your kind of journey in the in the real estate space so many things here to take home and consider.   00;24;10;11 - 00;24;22;27 Sam Wilson I think the what the the third point there on the too much value add that was the one that was really cool or is it was how you calculate what too much value add is so present as with a lot of things to think about here today. Certainly appreciate you taking the time to come on the show today.   00;24;22;27 - 00;24;26;23 Sam Wilson If our listeners want to get in touch with you and learn more about you, what is the best way to do that?   00;24;28;13 - 00;24;31;25 Kunal Dewan LinkedIn, like I said, is the best way to reach out to me.   00;24;33;28 - 00;24;42;05 Sam Wilson Fantastic. We'll make sure we get a link to that there in the show notes. And again, thank you again for coming on today. This was a blast.   00;24;42;05 - 00;24;44;07 Kunal Dewan It's a pleasure, man. Thank you for having me, Sam.   00;24;44;24 - 00;25;06;08 Sam Wilson 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 or whatever platform it is you use to listen. 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.   00;25;06;08 - 00;25;09;15 Sam Wilson So appreciate you listening. Thanks so much and hope to catch you on the next episode.

This episode covers everything to know about the budding cannabis retail sector with Barry Wolfe, Senior Director at Marcus & Millichap.The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. In this episode, Crexi's Yannis Papadakis sits down with Barry to talk about the emerging world of cannabis-specific retails, the potential opportunities in the sector, and fundamentals that investors need to consider when exploring investment options. Their wide-ranging conversation covers:Introductions, career paths, and early lessons learned entering the cannabis real estate space.The underlying fundamentals of cannabis commercial real estate and what sets it apart nationally and locally from other market sectors.How regulatory challenges in the cannabis sector actually provide unique opportunities and siloed competition to property owners who meet the requirements.How the investment demographic of capital entering the cannabis space has changed over the last five years and what's happening as national perception of the market shifts.The challenges and obstacles potential owners and investors need to consider when looking to invest in cannabis real estateAnd much more!If you enjoyed this episode, please subscribe to our newsletter to receive the very next one delivered straight to your inbox. For show notes, past guests, and more CRE content, please check out Crexi Insights.Ready to find your next CRE property? Visit Crexi and immediately browse hundreds of thousands of available commercial properties. Follow Crexi:https://www.crexi.com/​ https://www.crexi.com/instagram​ https://www.crexi.com/facebook​ https://www.crexi.com/twitter​ https://www.crexi.com/linkedin​ https://www.youtube.com/crexi About Barry Wolfe:Barry is a Senior Director of both Marcus & Millichap's National Retail Division and Net Leased Properties Division. Barry specializes in the sale of single-tenant properties and shopping centers. He has successfully assisted his clients in selling more than 705 properties with a total value exceeding $2 billion, having closed sales in over 40 states across the United States.Barry is frequently quoted in publications like Chain Store Age, Restaurant Business Magazine, and The Real Deal regarding matters affecting the real estate market. Barry is an active member of the International Council of Shopping Centers (ICSC).Prior to joining Marcus & Millichap in 2001, Barry was a practicing attorney for nearly ten years, initially in private practice with a transactional, real estate focus. As an attorney in private practice, Barry represented many developers and several national restaurant chains. Subsequently, he served as in-house counsel for a publicly traded NYSE company, where he ran the legal-real estate department. Barry's legal background frequently proves invaluable in helping his clients navigate the landmines inherent in real estate transactions.

Despite cyclical headwinds such as rising interest rates and an inflationary economy, the real estate industry is taking a long-term approach to assets and displaying cautious optimism for sustained growth and strong returns. This raises the question – how can real estate investors reposition their businesses and investments to adapt to market changes and take advantage of current trends?   John Chang, head of Marcus & Millichap's Research Services team, joins us from the Best Ever Conference to discuss the current state and future of the commercial real estate industry. John shares his expertise in translating economic data into actionable insights for investors stressing the need to stay focused on long-term strategies and staying on top of the market to make informed decisions. He talks about the trends in the industry over the next five years, including the growing importance of medical and suburban office spaces, the re-emergence of retail, and the democratization of commercial real estate investment. Click now and hear John's crucial advice for real estate investors in these volatile markets and uncertain times.   Key Points from This Episode: John introduces himself and explains his work at Marcus & Millichap, a commercial real estate brokerage and financing firm. What is the status of real estate investing now given the market changes and the Fed's intervention, and interest rate hikes in the past 12 months? How can investors avoid being negatively impacted by all the financial and economic doomsayers? How can investors anticipate and project their moves in the next three to five years given the volatility of the marketplace, the yields, the cap rates, etc? What factors should investors look for when considering multifamily investments? What factors should investors consider when looking at commercial real estate investing in the next five years? Why do suburban offices and medical offices make compelling buying opportunities now? Why are retail spaces outperforming despite multiple predictions of a "retail apocalypse" brought about by e-commerce?  What is the long-term outlook for industrial real estate given its inventory reduction, reduction in imports, and issues such as shipping, supply, and logistics? Is the multifamily market still an attractive investment opportunity? What are its long-term household formation trends, and growth potential? Why does John say that commercial real estate investing has been undergoing democratization although private investors are still underrepresented? How does John see today's market in the broader context of the historical market cycle?  John advises investors to invest in real estate, understand the underlying drivers, and partner with the right people. John's contact information   Tweetables: “Investors must stay on top of the market and be aware of what's going on.”- John Chang    “Don't miss out on the opportunities that are here today that actually will play well into your future goal.”- John Chang    “There's always another piece of real estate but it's very, very hard to replicate knowledge, experience and seasoning and understanding of the nuances of the market.”- John Chang    “The huge advantage of real estate is it is generating cash flow. It is paying you on a month-to-month basis and it allows you to have income throughout your entire retirement cycle.” - John Chang    “The momentum in the real estate space is enormous. The amount of capital coming into commercial real estate is the greatest that's ever been.”- John Chang    “Real estate is a long game. We're not day trading.” - Tyler Chesser     Links Mentioned: John T Chang on LinkedIn Marcus & Millichap Best Ever Conference Invest with CF Capital   About John Chang John is the senior vice president of the National Director of Research & Advisory Services at Marcus & Millichap. He is a leading analyst focused on commercial real estate performance and sales trends. He provides industry-leading insights that blend economics, demographics, performance metrics, and sales trends to offer investors a unique and insightful perspective. John has in-depth background blending marketing, advertising, media strategy, promotional campaign creation, PR, web development, eCommerce, and product development adding contextual experience and understanding to insights and analysis.    With an extensive experience across the entire real estate sector, John has published articles, videos, and webcasts and has been a featured speaker in industry events and conferences focusing on all commercial real estate property types: hospitality, industrial, manufactured housing, medical office, multifamily, office, retail, self-storage, and senior housing.

As the top-ranking apartment building broker at Marcus & Millichap - NYC, Shaun Riney has closed over 850 buildings since starting in 2009 with a selling value of over $3.5 Billion Dollars specializing in seller-representation of investment properties in NYC. He is an active member of Greenpeace, UNESCO, and the Polaris Project, an organization preventing human trafficking worldwide.His passions outside of real estate include traveling, scuba-diving, cycling, mountain biking, and spending meaningful time with friends and family. He regularly competes in Triathlons and is a dedicated mountain hiker and has spent considerable time climbing in the Pyrenees Mountain Range of Southwest Europe, the Tramuntana Mountains of Mallorca, The Nā Pali Coast of Hawaii, the Adirondacks, White Mountains of New Hampshire, and the Catskills. He is a sports enthusiast, an avid soccer player and Captain of the Brooklyn Football Club (BKFC).Riney is a graduate of Boston University and currently resides in Williamsburg, Brooklyn.Media Links:Instagram - @ShaunRiney1Website - www.newyorkmultifamily.comFollow me on instagram to see how I make my deals & grow my realestate empire! https://www.instagram.com/allonavgi/Check out my other social accounts here:TikTok: https://www.tiktok.com/@allonavgi?lan...Linkedln:https://www.linkedin.com/in/allonavgi/Twitter: https://twitter.com/allonavgiFacebook: https://www.facebook.com/everythingAl...YouTube: https://www.youtube.com/user/AllonAvgiSpotify: https://open.spotify.com/show/6dxNrujg4Feevqqmru76MTApple Podcasts: https://podcasts.apple.com/us/podcast/talk-shop-with-allon-avgi/id1547359926Allon Avgi is the Founder and CEO of AVGI. Allon started AVGI at 21years old when he acquired his first real estate investment in Long Island, New York. Allon has since developed a diverse real estate holdings company that has reached $50,000,000 in rental properties within only 4 years using his own money and that of a select few individuals. As he starts to open AVGI's investments to outside capital and build strategic partnerships, he has ambitiously set a target to acquire and manage a $1 billion real estate portfolio by the time he is 30 years old.

Stocks are getting a big boost on the back of the October CPI report showing a smaller than expected increase in consumer prices. Bank of America's Aditya Bhave explains what this means for the economy going forward. Plus, reports say FTX is looking for more than $9 billion in rescue funds from rivals such as OKX and current investors like Sequoia Capital. TechCrunch's Jackie Melinek gives the latest on the story. And, it's been a rough ride for commercial real estate, with rising interest rates having an impact on demand. Marcus & Millichap's Hessam Nadji weighs in on the sector.

  Mark Hamilton has considerable experience in partnership formations and operations, project planning and implementation, asset management and management oversight, landlord-tenant and rent-control issues, risk management, and zoning and building department matters. Prior to co-founding Hamilton Zanze in 2001, Mark owned his own commercial brokerage and investment business after starting in the San Francisco office of Marcus & Millichap in 1981. In 1988, he co-founded Property Resource Group (real estate brokerage) and Quantum Land Company (development). Mark's main focus has always been locating value-add properties in changing urban neighborhoods and then re-working them into higher-quality buildings with higher incomes, improved tenant profiles, and higher resale values.   Mark shares his insights into investors' mindsets focusing on growth and income and how one should commit to staying in power, Let's hear more from Mark in today's episode of How to Scale Commercial Real Estate.   Highlights:   [00:00 - 07:08] Opening Segment Mark Hamilton has been a player in the national commercial real estate industry for over 30 years and has accumulated $5 billion in assets under management. Risk has shifted over time, with interest rates and capital being the main drivers of change. Hamilton advises investors to sell when they believe they can get the same amount of money out at a later date, as rates of return are currently low.   [07:08 - 13:54] If You're An Investor, Your Focus Should be on Growth and Income How an investor's portfolio should serve their short-term, intermediate, and long-term interests. An investor's strategy should include a focus on growth or income, with a preference for income over growth if there is a fear of an impending recession. Since 1985, the focus of Hamilton Zanze Investors has shifted towards more of an income approach. Rates of return have gone back down in some markets and leverage has decreased, but cap rates are still moving upwards.   [13:54 - 20:52] Commercial Real Estate Investors Should Commit to Stay in Power The correlation between a B and C property that has held their value the best and suffered less capric compression. Having a growth or income strategy when investing in commercial real estate, and advises against investing in C-Class properties that are experiencing capric decompression. Mark recommends owning a C-Class property that is producing an incredible amount of income in order to be immune to market fluctuations."   [20:53 - 22:06] Closing Segment Reach out to Mark Hamilton See links below  Final words Tweetable Quote   “If you put financing on it, you're serving a master of paying off the debt. But other than that, your masters are generally a combination of growth and income.”  - Mark Hamilton   ----------------------------------------------------------------------------- Connect with Mark Hamilton by visiting their website at  www.hamiltonzanze.com     Connect with me:   I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.     Facebook   LinkedIn   Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on.  Thank you for tuning in!   Email me → sam@brickeninvestmentgroup.com   Want to read the full show notes of the episode? Check it out below:   [00:00:00] Mark Hamilton: For your own sake, commit to staying power. What's your staying power strategy, right? If you're starting out, what's your income gonna be? Do you have no need of an income? Do you have an income stream? Do you have a spouse that's bought in that provides enough income, but you gotta commit to staying power and that means your. [00:00:18] Mark Hamilton: Because you will want to eat and do the thing that I did this morning, which is get out of bed. You will wanna be able to do that every day and meet the challenges, right? [00:00:27] Intro: Welcome commercial real estate show. Whether you are an active or your real estate investing business into something big. [00:00:39] Sam Wilson: Mark Hamilton has been a player in the national commercial real estate industry. For more than 30 years, his main professional focus has been locating value, add properties in changing urban neighborhoods, and then reworking them into higher quality buildings and higher incomes, improved tenant profiles and higher resale values. [00:00:56] Sam Wilson: As of today, they have about $5 billion in assets, under management solicit somebody that we should absolutely pay attention to mark. Welcome to the.  [00:01:06] Mark Hamilton: Hi, Sam, thank you for having me. And thank you for the generous introduction nobody's ever called me a player before.  [00:01:14] Sam Wilson: well, I certainly appreciate you coming on the show today, mark. [00:01:17] Sam Wilson: There are three questions. I ask every guest who comes on the show in 90 seconds or last, can you tell me, where did you start? Where are you now? And how did you get  [00:01:24] Mark Hamilton: there? Okay. So, I started by accident. We can come back to that if you want. My wife and I purchased a duplex in, a very rundown duplex in San Francisco in 1985. [00:01:35] Mark Hamilton: And despite the agony of dealing with it the property made her mother cry. It was so rough. We, we kind of got bit by the. So for a solid 15 years or almost 15 years I practiced really only in San Francisco purchased. A few dozen small buildings that needed a lot of tender, loving care and heavy lifting. [00:01:54] Mark Hamilton: Eventually we started lost the ability to find the kind of yields that I wanted in San Francisco. So moved across the bay and moved to other parts of the bay area, Oakland Alameda, Hayward and then in 2001, I met Tony Zs who had a very institutional pedigree and career. To that point in time, it was good marriage. [00:02:11] Mark Hamilton: I was good at getting my hands into the dirt and getting my arms around deals. He had a lot of really valuable institutional experience that helped us kind of work both sides of the barbell . That was 2001. Our first deal was 16 units for a million, one 50 last year we acquired about a billion, one 50 in [00:02:30] properties. [00:02:30] Mark Hamilton: And so it's been as steady as you go experience, go show up, do the work every day. Be careful. You better love the work because you're gonna do a lot of it. And if you're lucky, you'll discover you're proficient at it. Primarily through being committed about it and putting your own skin in the game and then you'll draw good people. [00:02:46] Mark Hamilton: We've been really lucky to draw a really great group of investors and a terrific staff. And we're building for the long run through that staff. But when there's treasure and you spread it around, it tends to work.  [00:02:59] Sam Wilson: That is awesome. 16 units of 2001. [00:03:02] Sam Wilson: So that's 21 years ago. Now you are at 5 billion in assets, under management. What are some things as you review the last 21 years, how has risk shifted in the marketplace and how are you guys addressing that today?  [00:03:17] Mark Hamilton: I think it's shifted. I think the single biggest component that's changed risk has been interest rate movement interest rate movement Over the last 40 years, I'll refer to it. [00:03:25] Mark Hamilton: As the bond market as a bull run in the bond market, , rates were at 20 when I started my career last year. And when I say rates, it could be anything from the fed rate to the 10 year bond. What have you, but last year, , in the pandemic, the tenure bond went below two. [00:03:40] Mark Hamilton: Right. So when interest rates go from two to 20 and rates of return follow it means there's a huge amount of capital out there. Evermore each year, chasing assets. And so you build up a lot of value. So if that's a risk you gotta be aware that it could change interest rates could go back up. [00:03:53] Mark Hamilton: I think we're probably finally at that time where interest rates are gonna start going back up long term rates, 10 years out, five years out. I think they'll probably still come back down. But rates are a risk. And then if you've held assets during the bull run and, as, and as rates of return have gone down, you have a lot of made capital. [00:04:10] Mark Hamilton: And so you have to be careful about, honoring what you want from that capital and what you expect to get in terms of preservation and returns.  [00:04:18] Sam Wilson: When you say made capital, can you define that for me?  [00:04:21] Mark Hamilton: Sure. If you have a property and you buy it in a market that expects a 10% return, that means to induce take favor investors to come in and part with their cash. [00:04:32] Mark Hamilton: To take favor and they're expecting a 10% return, which, favor return we haven't seen in ages, but it makes the illustration easy. Favor have a million dollars of net you  [00:04:42] Sam Wilson: cannot  [00:04:42] Mark Hamilton: pure whether it's in a triple net lease property  [00:04:45] Track 2: episode  [00:04:46] Sam Wilson: cannot  [00:04:47] Mark Hamilton: pure or in an apartment  [00:04:50] Sam Wilson: cannot  [00:04:51] Mark Hamilton: But at the end of the day what goes into [00:04:54] Sam Wilson: cannot  [00:04:54] Mark Hamilton: financed? It is a 10%.    [00:04:58] Mark Hamilton: bucks, 10%. If a [00:05:00] million dollars is 10%, it means the value of the asset is $10 million. Right. Right. Cap rates. Haven't been at 10 in more than 30 years. Right. However they have recently been in the range of five But in a normal world, that would be the lowest they would go, but they haven't, they went even lower than that again, which means there's lots of cash chasing assets. [00:05:20] Mark Hamilton: Good value is hard to find, so people are paying up, but again, if you have a million bucks. Of pure income INI what's available after paying all your expenses. And now it's a 5% return market that asset's worth 20 million. The income's the same, right? The property's the same, nothing has changed. The only thing that's happened is valuation and the big drivers' valuation movement have been capital. [00:05:44] Mark Hamilton: Capital is for years, if not decades has been feverishly, trying to find returns. And as there's evermore capital chasing returns go. But that means the value of the assets go up. So if you're holding a highly value asset and you think you might transact at some point in time our feeling is always, has always been it's better to sell when it's white, hot than when it's Rocky. [00:06:08] Mark Hamilton: So we, I think. Meticulously evaluate our portfolio every month. And when we think we've really completed a business plan on something, and we're not likely to do a heck of a lot better we'll generally sell that asset. And the last five years have been a good time to sell assets, but if you sit on them and hope to get the same amount of money out at a later date, if rates of return have gone. [00:06:29] Mark Hamilton: At that point, which they are right now, then your values have gone down.  [00:06:33] Sam Wilson: Right. Right. And so that's what you mean by made capital is when you're sitting on that property that is now in increased in value that do I sell it? Do I that's made capital, do I dispose this property? Do I hang on it? [00:06:46] Sam Wilson: You know the ultimate question, I guess that everybody's probably, yeah. And  [00:06:48] Mark Hamilton: It's not an error. To sit on it. If that's your strategy, if it's a family asset that you wanna hold indefinitely, then that's your as asset, that's your strategy, right? You honor the strategy, you have a piece of the rock and it produces income. [00:07:01] Mark Hamilton: Right. But if you're also trying to serve. So you're gonna serve a few masters, right? One master you have to serve is expenses. You're never gonna get away from that. If you put financing on it, you're serving a master of paying off the debt. But other than that, your masters are generally a combination of growth and income. [00:07:15] Mark Hamilton: You're gonna skew toward one side or the other, and if you're a heavily growth oriented investor and you can use the tool of a 10 31 exchange our view has been that it's better to use the 10 31 to put it back into something that you think is gonna grow again. [00:07:30]  [00:07:30] Sam Wilson: Right? Absolutely. [00:07:32] Sam Wilson: Absolutely. Do you feel like, like there should be a focus in an investor or in an investment firm's portfolio or they say, Hey, we're focusing on growth or we're focusing on income or is there a way to  [00:07:43] Mark Hamilton: have both. Yes, and yes. And yes. So your investment portfolio should serve your interest should ideally it'll serve your short term interests, but it should serve your intermediate and long term interest. [00:07:57] Mark Hamilton: Right? So you're gonna, you're gonna make choices you're gonna meet with somebody. It might be your spouse. It might be your mother or father-in-law, it might be your neighbor, right? It might be you talk it over with a CPA. Or with a wealth advisor. But I think you need to have a basic strategy. [00:08:11] Mark Hamilton: You need to be committed to it, which doesn't mean to be casting concrete. But at least that'll give you a measuring post. And then you measure accordingly in the early going our emphasis was all on growth. We were, simply finding things that we thought were undervalued to get something that's undervalued. [00:08:27] Mark Hamilton: There's gonna be some problems that come with it. Otherwise there'd be a flock of people chasing it. Right. And you have to be prepared to do the corrective, no, the corrective effort, you have to be prepared to, to put in the blood, sweat, tears of money. But you weren't even a wee lad there, then that was in 1985. [00:08:43] Mark Hamilton: So. Since then as we've succeeded and grown equity, our . Investors tend to have shifted to more of an income approach. They still want an expectation of growth. , if you don't have the expectation of growth, you might wanna buy a triple net deal, you might wanna buy a bond. [00:08:56] Mark Hamilton: But if you have some expectation of growth and tax efficiency along the way, our investors expect that, but , they're a little more centered on income right now. And some of that's about age and some of it's about having racked up big gains.  [00:09:09] Sam Wilson: Yeah. And that's, I think that's an investor sentiment that I have in my investor, conversations has been kind of shifting. [00:09:16] Sam Wilson: And even the last eight to 12 months, I hear a lot of investors who are calling me saying, you know what, I'm moving into the income side of things. I want a stabilized asset that is now producing revenue versus I'm looking for the home run. And I think that's coupled two things go into that. [00:09:31] Sam Wilson: One is the fear of an impending recession. And also, with that impending recession, also just the fear that the equity multiples aren't gonna be there. Like they, maybe they have been in the last six to eight years.  [00:09:42] Mark Hamilton: Well, that's certainly true in the stock market right now. The stock market is correcting. [00:09:45] Mark Hamilton: People are looking at it through various lenses, but you can be sure that one of 'em is price, earnings, ratios, and price earnings ratios have come down. And again, that means that the value against its net. Is not what it was, cuz people aren't bidding for it. [00:10:00] Right. To the same extent. Right. So, yeah I think there are good reasons to be looking at income at all times. [00:10:05] Mark Hamilton: And again, I would say probably. Oh boy, I would say fully 60% to two thirds of our investors at this point in time are content to collect income. And I think at this point in time, it's in part because they know there's gonna be . Growth. Right. , a lot of folks have been with us for more than 30 years. [00:10:20] Mark Hamilton: Wow. So they know there's gonna be growth. And then they can get per and because of that, they can get persnickety about income.  [00:10:28] Sam Wilson: I love it. I love it. Yeah. And I think that's a, an interesting point there where you say people aren't bidding for it. Have you guys seen any softening in the multifamily market on the acquisition side and maybe even on the disposition side? [00:10:41] Mark Hamilton: Yes. It had really within. The last two years during the pandemic with interest rates going down cap rates went down too. Cap rates are the rates of return that we look at. And again, it comes back to that ratio of net income to value, right. Cap rates went down. Just horrifyingly. [00:10:58] Mark Hamilton: There was a steep drop and that's great if you're holding, right. It makes it harder if you're buying. Right. And so we're, we are always buying what we buy a little bit can differ certainly where we buy differ. But I think we figured out that in the last 21 years of Hamilton Zs, we've been out of contract on an acquisition for precisely one week. [00:11:17] Mark Hamilton: We are always in the markets. It means you gotta be concerned about overpaying, right? I mean, we can overpay. There's no limit, there's no law against overpaying. You pay as much as you want. But we have to be careful. Our investors are friends and family and credentialed. Real estate people. [00:11:30] Mark Hamilton: They can pick apart a proforma and then we have marks, we have marks that we have to hit in part because people expect us to, they've seen it, right. So, but we are in 30 metropolitan areas. We're in 17 states and there'll be probably. Two thirds to three quarters of those markets that we can't even look in right now as buyers, because they're so fully Christ. [00:11:51] Mark Hamilton: Right. But we turn over rocks. We started out in one market. Then we were in two. Then we were in three and over the last 21 years, we've grown to 30 markets and it's just, we look for places we wanna be where there's good story. And then we start turning over rocks. And so, we'll take in three to 4,000 submissions, a. [00:12:08] Mark Hamilton: After shaking 'em down, we'll underwrite, maybe 250. We'll write offers on maybe 50 and we'll be able to get into the ring and get into the finals on 15 to 25 and come out with 15 to 18 acquisitions. Right. And it's just because we have to find the returns. But, you do it with hard work, you do it with persistence, you do it by forming [00:12:30] relationships with people. [00:12:31] Mark Hamilton: And right now in some of those markets, people are talking about transaction velocity in the second half of 2 0 2, 2 being off by fully 50% from the second half of 2 0 2 1. Wow. And so we are seeing cap rates move back. leverage has come down. We're typically a 65 to 70% borrower leverage right now is probably mainstream. [00:12:53] Mark Hamilton: Leverage is gonna be more. 50 to 60%. We can make that make sense. If we like the asset because we're investing more for long term income at this point, , not every time, but many of our partnerships have racked up big gains. And if people just get a nice, steady ride and a pretty picture to look at you're gonna make, you're gonna please a lot of people that way. [00:13:10] Mark Hamilton: But values have come back and it's market specific, rents are still white hot , in Manhattan and in Brooklyn. So I would expect rates of return. There have gone back down in some of the Rocky mountain states some of the Mid-Atlantic states cap rates have gone up broker told me the other day that in salt lake where we've seen just like brutally low capric in the low threes, that case by case. [00:13:32] Mark Hamilton: In salt lake, which is a highly desired market and a growth market that cap rates may have moved by anywhere from a hundred to 125 basis points. And what that means, nobody's sitting there watching a monitor saying, what are cap rates doing? They're behaving. Right. We're all behaving, right. [00:13:48] Mark Hamilton: And what are we doing? We're either buying or we're not. And so few fewer people are buying PE the people that are buying are being more selective. And I think generally speaking, you're gonna see a correlation between a B and C property that a properties have probably held their value the best and suffered the least capric decompression B properties are hanging in there doing okay, and have suffered a little more capric compression and C proper. [00:14:12] Mark Hamilton: Have gotten hurt the worst and have suffered a lot of capric decompression.  [00:14:17] Sam Wilson: And again, that goes back. I think the key point there is to what is your strategy? Is it growth or income? And so we don't really care. I, we are proud owners of a C-Class property that is producing an incredible. [00:14:31] Sam Wilson: And  [00:14:31] Mark Hamilton: it's like, as long as it's doing its job and it's not wobbling and you structured your financing so that you're not gonna get whipsawed by hostile movement in interest rates, then the asset's doing its job. Right.  [00:14:45] Sam Wilson: That's exactly right. That's exactly right. Yeah. And so we're not, again, it goes back to your very, the very point in the beginning, which is, what do you want out of this investment? [00:14:54] Sam Wilson: Is it growth? Is it income? What's your strategy and the honor of that strategy? So  [00:14:57] Mark Hamilton: that's I think I think for me, [00:15:00] and maybe it's just because I've gotten on in years, I'm 63, right? So you're talking to almost an official senior citizen But at this point in time, I just want it to work out. [00:15:08] Mark Hamilton: Right. I want stuff to work out and that doesn't mean I wanna move to the sidelines. I'm too fidgety to move to the sidelines. But you have a basic strategy and if it works out, it's doing its job. and so we know that we could make it work with growth and income, we knew we could make it work with growth. [00:15:21] Mark Hamilton: There wasn't much income. It was mostly about it. It was a big renovation business, but we know how to do it with growth and income. We know how to do it with income . And growth. , we took down a portfolio in bankruptcy last year of almost 60 properties. And we knew it had been mismanaged and we knew that it was out of the reach of most investors who would bid for it. [00:15:40] Mark Hamilton: Right. So we felt we were getting good pricing going in and we felt we felt, we knew we could run the portfolio. We were uniquely positioned because it was both apartments. was probably two thirds of the value of the portfolio and suburban office. And we have an affiliated company that, that does that. [00:15:55] Mark Hamilton: And the other thing too is on our home court, it's in the bay area. Right. So, nobody's ever gonna be nonchalant about a bonafide growth deal. But at the same time, those sort of things are, I guess the term of the stock market is unicorns, right? Those things are unicorns a little bit. [00:16:10] Mark Hamilton: So if we didn't catch a unicorn, we at least caught a horse with a bump on its head. And but everybody likes growth. And if it's real growth, you're not gonna have any trouble having people be interested. But at the same time, you have to look at what's sustainable. And investors want what's sustain. [00:16:24] Mark Hamilton: Yeah.  [00:16:24] Sam Wilson: That's absolutely right. Absolutely. Right. Tell me, this is your view in the market right now. , are we in a lull? Is this the eye of the storm? Where are we right now? And where are you guys positioning yourself for the future?  [00:16:39] Mark Hamilton: That's a really good question. And curiously, I think events on the global stage are gonna affect us real estate markets. [00:16:47] Mark Hamilton: More than you might expect. Certainly inflation is a worldwide phenomena right now and it's gonna affect worldwide interest rates. On the other hand, the United States is also still a Haven for investors and there's certainly inflow of. Foreign capital. We don't deal with foreign capital very much. [00:17:03] Mark Hamilton: We deal with it a little bit. And so I think, certainly the likelihood of stability it won't be perfect stability. It's gonna, we'll suffer some capric decompression just like anybody, but what's happened on the world commodities market because of. [00:17:16] Mark Hamilton: Central banks, flooding economies with money and because of the war in Ukraine in terms of the impact on energy commodities et cetera, is a big deal. Any instability in China would be a big deal and they have people [00:17:30] there that are publicly. Boycotting making interest payments on properties that they have never been delivered to them. [00:17:37] Mark Hamilton: And so, growth I think it's fair to see that China. Has made economic rising economic prosperity and rising stability and rising growth rates, a pillar of their whole form of government in terms of keeping people bought in. And so when you see growth start to slow down, which it has in China, and then when you see people boycotting mortgage payments That's a concern. [00:17:59] Mark Hamilton: It should be a concern. It would, it will affect the world market. And then domestically it's, it's interest rates. I don't think there are any newfound challenges in the tax code that are gonna drop on us. I think Fannie and Freddie are gonna be there are there for the duration in terms of cap being capital providers, being debt, capital providers. [00:18:15] Mark Hamilton: And so it comes down to operations and I won't say that we're protected from a downturn affecting working people in the United States. I don't think we're protected. I think that occupancy exposure and delinquency exposure is gonna be the lowest with a plus properties. [00:18:33] Mark Hamilton: And it's gonna be the highest with C minus properties. So you just have to be, you just have to be prepared. To be that operator, if you have a real occupancy and, or delinquency challenge. And I. I think there will be some of that, but let's be honest. I mean, unemployment right now is at three to 3.5%. [00:18:51] Mark Hamilton: And there are a lot of people who are just saying, eh, it's not good enough for me yet. I'll wait it out. I'll find a job, but I'm not in any hurry. And household formation is still on our site. We are probably 85% of our investment activity is in multi. we do have investment activity in our suburban office platform, but the vast majority of it's multi-family and what we experienced in the great recession was that if we met the market, did a good job operating the properties, kept the staff happy and kept people in their apartments. [00:19:22] Mark Hamilton: It was a refuge for us. In a rough time. Because , if you can win your occupancy, you've won a big part of the battle with multifamily.  [00:19:29] Sam Wilson: Absolutely. Absolutely. Mark, this has been fascinating. Thank you for taking the time to come on today and just kind of give us a breakdown really on the current events, how you see things through a lens of. [00:19:39] Sam Wilson: How many years is that? 15, 20, 35?  [00:19:42] Mark Hamilton: Well, the dirty secret is 40. But I didn't buy my first property until 1985. So 37. Okay. So the year I got  [00:19:49] Sam Wilson: married, that's awesome. I absolutely love it. If you could give our listeners one piece of advice that pertains to investing today, and you said, Hey, [00:20:00] this is what I recommend to anybody who's investing in commercial real estate. [00:20:03] Sam Wilson: What would it be  [00:20:04] Mark Hamilton: For your own sake, commit to staying power. What's your staying power strategy, right? If you're starting out, what's your income gonna be? Do you have no need of an income? Do you have an income stream? Do you have a spouse that's bought in that provides enough income, but you gotta commit to staying power and that means your. [00:20:23] Mark Hamilton: Because you will want to eat and do the thing that I did this morning, which is get out of bed. You will wanna be able to do that every day and meet the challenges, right? Apartments are multi-family is a very activity based business, right? It's a very demanding daily business. So you have to be prepared to, to meet that where it is. [00:20:42] Mark Hamilton: And then you have to have a strategy. That's gonna an asset strategy. That's gonna allow you to navigate it when things aren't so great and benefit from it when things aren't. So I may always say commit to staying power and satisfy yourself that you've answered those questions.  [00:20:57] Sam Wilson: I love it. [00:20:58] Sam Wilson: I love it. Mark. Thank you so much for coming on today. If our listeners want to get in touch with you or your firm, what is the best way to do that?  [00:21:05] Mark Hamilton: Well, I'll tell you, we have a pretty good website that we like. Other people have told us that as well. It's Hamilton, H a M I L T O N Z as in zebra, a N as in Nancy, Z as in zebra, E as in edward.com. [00:21:18] Mark Hamilton: We think that tells the story pretty well. And then otherwise my email address is mark M Ark. Hamilton zands.com.  [00:21:26] Sam Wilson: Wonderful. We'll make sure we put those things there in the show notes, mark. Thank you again for coming on day. Certainly  [00:21:31] Mark Hamilton: appreci. Appreciate it. You got Sam. Thanks for having me. It was fun. [00:21:34] Mark Hamilton: Good luck with your property. Thank you, sir.

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 Gabriel Galiothe, Senior Associate at Marcus Millichap, for a lively conversation about some of the most common legal pitfalls he sees during the commercial real estate acquisition process. ▶️ During our conversation, we explored topics such as: • What got him interested in the commercial real estate industry, • Walked us through a day in the life of an investment sales broker and what are some of the early struggles he faced, • What are some of the common pitfalls he sees investors make when acquiring these assets, • What are some of the best ways to add value to an investment, • How has the investment landscape evolved since COVID and where does he see it going in the future, • As well as much more. ▶️ If you're interested in learning more about Gabriel, feel free to reach out to him via the following links: ▶ LinkedIn: https://www.linkedin.com/in/gabrielgaliothe/ ▶ Website: http://marcusmillichap.com/ ▶ Email: Gabriel.Galiothe@marcusmillichap.com Below I've provided links to books that were referenced during the episode: 1) Rich Dad, Poor Dad - https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194 If you find value in these episodes, please SUBSCRIBE and don't forget to leave us a 5

In this episode of Purpose-Driven Wealth, your host Mo Bina is joined by Glenn Esterson to discuss the general setup for investors and those looking for affordable housing in the mobile home community. After sharing how Glenn transitioned from farming to being Marcus & Millichap's national team for mobile home communities vice president, he simplifies market terminologies, what's more important than cap rate compression, the two basic types of 'rentals' in the mobile home community, and what he suggests for those looking to invest in mobile homes. In this episode you will learn: How Glenn got into investing in mobile home parks The changes with MHCs in the past decade Glenn Esterson on the spread between operating cap rates and bank loan interests The responsibilities that come with park-owned and tenant-owned homes Suggestions for syndicators looking for deals in the MH community and so much more! About Glenn Esterson:   Glenn Esterson has been a commercial real estate broker since 2001 and bought his first manufactured home community in 2004. He has sold hundreds of parks nationwide and continues to be one of the industry's most active brokers.   In 2019 Glenn was recruited by Marcus & Millichap as a Vice-President to build a national MHC/RV team with an emphasis on the east coast and sunbelt markets.   Most recently Glenn has authored the MHC industry's newest book called The Mobile Home Park Manifesto which is now available here or on Amazon.   With more than twenty years in the commercial real estate business, Glenn has successfully owned and operated mobile home parks, as well as assisting his clients buy and sell land lease communities throughout the U.S. markets.   Early in his career, Glenn worked with low income housing and conducted apartment sales, condo-conversions and property management. From there, Glenn transitioned into investment sales of manufactured housing communities & RV parks throughout the Southeast and Mid-Atlantic and now the entire nation.   Glenn works exclusively with institutions, syndication's and private investors as their primary real estate investment adviser for their acquisition and disposition needs. Glenn provides clients with expertise in asset management, portfolio analysis, site selection, optimizing and implementing achievable upside plans, traditional brokering and consulting. Glenn has executed more than 400 transactions over his career.   Follow Glenn Esterson on:   Website:          https://estersonmhcteam.com/ LinkedIn:         https://www.linkedin.com/in/glenn-esterson-66760129/   The Mobile Home Park Manifesto: Ethical and profitable investing in non-institutional grade land lease communities, eBook by Glenn D. Esterson: https://www.themhpexpert.com/buy-the-book-the-mhp-manifesto/   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      

If you're interested in multifamily investments, you won't want to miss this interview. Nick Fluellen is one of the top Marcus Millichap multifamily brokers in the DFW area. He's seen a lot of changes over the years and he remains bullish on multifamily investments. In addition to brokering deals, he puts his own money in multifamily investments. He's a GP in 12 deals and a passive investor in close to 50 deals. Hear Nick talk about how rising interest rates with lower loan proceeds and higher property taxes and insurance are impacting the market today. He also talks about agency debt vs bridge debt, the cost of interest rate caps in today's market, how to develop relationships with brokers and the value of being a part of a 2,500 Marcus Millichap agent network in the US. You'll learn a lot from this interview, but most importantly, you'll get Nick's insights into where he thinks the market is headed. This information could be invaluable as you make your own investment decisions. Listen and learn! For links and resources discussed in this episode, please visit our show notes at https://darinbatchelder.com/marcus-millichap  

Max Sharkansky brokered for five years at Marcus & Millichap before he began buying real estate with his childhood best friend. Today, he specializes in value-add multifamily and serves as GP of 6,000 units across California, Oregon, Colorado, and the Southeast. In this episode, Max shares his formula for getting access to deals before they reach the institutional process, how current events are changing the way he underwrites and structures debt, and why he chooses not to veer away from the multifamily asset class. Max Sharkansky | Real Estate Background Partner at Trion Properties, which invests in multifamily real estate, and specifically specializes in value-add projects. Portfolio: GP of 6,000 units Based in: Miami, FL Say hi to him at: trionproperties.com All socials: @trionproperties Best Ever Book: Atomic Habits by James Clear Greatest lesson: Take risks and hire good people. Click here to know more about our sponsors:  Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com 

Syndication Made Easy with Max Sharkansky  Max Sharkansky, co-founder and managing partner, oversees all aspects of acquisition, disposition, and property analysis for Trion Properties. Since the firm's founding in 2005,Max has led the acquisition, renovation and disposition of more than $1 Billion in mismanaged, distressed, or under-valued multifamily assets yielding an average IRR in excess of 25%. Max, along with partner Mitch Paskover, initially formed the Company to acquire properties in Los Angeles. Max led Trion in the execution of several acquisitions in the firm's first two years of existence, exiting the portfolio prior to the economic crisis. With cash on hand and no resources tied up in workouts, Max led an acquisition strategy of targeting distressed debt secured by multifamily REO's, which led to the ultra-successful campaign of the acquisition of 20 properties throughout the downturn. Since the recovery, Trion has shifted strategies to the acquisition of value-add properties where value can be created through extensive renovations, hands-on management, and improvement of operating efficiencies. Max's ability to identify then acquire distressed multifamily properties and his expertise in the marketplace have been instrumental in the success of Trion Properties. Prior to co-founding Trion Properties, Max was a Senior Associate at Marcus & Millichap from 2002-2006 where he managed the sale of several million dollars in real estate throughout the United States, specifically in the multifamily arena, elevating him to one of the top-ranking brokers in Los Angeles. What Are You Going to Learn Here? Passive investing Assisted Senior Living Multifamily real estate Migration trends within the US Commercial real estate liquidity Vertical integration in real estate sponsorship Investing during inflation ------------------------------------------------ About Vinney (Smile) Chopra: Vinney is a real estate investor, syndicator, International best-selling author, host of 4 podcasts, multifamily educator, mentor, dedicated husband of over 40 years and father of 2 children-Neil and Monica, residing in Danville, California (near San Francisco) for 40+ years. Vinney came to this country with only $7 in his pocket and a dream. Vinney has now built a portfolio of over 6,500 units amounting to over $650 Million in the multifamily, senior assisted living and hospitality arenas. He is passionate about helping others achieve financial freedom and giving back to our seniors who have given us so much. Learn more about Vinney: https://vinneychopra.com/ Learn more about investing with Vinney: https://vinneychopra.com/investor/ Apply for Mentorship: https://vinneychopra.com/mentorship/ Vinney's Youtube: https://www.youtube.com/c/VinneyChopra/videos Vinney's Linkedin: https://www.linkedin.com/in/vinney-smile-chopra/ Vinney's Instagram: https://www.instagram.com/vinneychopra/ Vinney's Free Book: https://vinneychopra.com/freebook/ ------------------------------------------------

Do you want to maximize your ROI while minimizing risks? Then check out today's episode with Max Sharkansky as he reveals the secrets to surviving a market crash and finding considerable profits in real estate. Stay tuned to boost your chances of investing success right now! Key takeaways to listen for  Techniques to generate massive revenue in times of market downturn What business model thrives during an economic slump? Advantages of insourcing over outsourcing operations Ways to structure your business for optimum income How to achieve a 77% IRR exit   About Max Sharkansky Max is the co-founder and managing partner of Trion Properties. Before co-founding Trion Properties, Max was a senior associate at Marcus & Millichap, where he managed the sale of several million dollars in real estate throughout the United States. Since the company's founding in 2005, Max has been overseeing all aspects of acquisition, disposition, and property analysis of more than $1 billion in mismanaged, distressed, or under-valued multifamily assets yielding an average IRR of over 25%. Connect with Max Website: Trion Properties Twitter: @maxsharkansky Email: max@trionproperties.com   Connect with Us To learn more about partnering with us, visit our website at https://javierhinojo.com/ and www.allstatescapitalgroup.com, or send an email to admin@allstateseg.com.  Sign up to get our Free Apartment Due Diligence Checklist Template and Multifamily Calculator by visiting https://javierhinojo.com/free-tools/. To join Javier's Mastermind, go to https://javierhinojo.com/mastermind/ and to apply to his BDB Mastermind, see https://javierhinojo.com/mastermind/#apply_form and answer the form. Follow Me on Social Media Facebook: Javier A Hinojo Jr. Facebook Group: Billion Dollar Multifamily and Commercial Real Estate YouTube Channel: Javier Hinojo Instagram: @javierhinojojr TikTok: @javierhinojojr Twitter: @JavierHinojoJr

Syndication Made Easy with Max Sharkansky  Max Sharkansky, co-founder and managing partner, oversees all aspects of acquisition, disposition, and property analysis for Trion Properties. Since the firm's founding in 2005,Max has led the acquisition, renovation and disposition of more than $1 Billion in mismanaged, distressed, or under-valued multifamily assets yielding an average IRR in excess of 25%. Max, along with partner Mitch Paskover, initially formed the Company to acquire properties in Los Angeles. Max led Trion in the execution of several acquisitions in the firm's first two years of existence, exiting the portfolio prior to the economic crisis. With cash on hand and no resources tied up in workouts, Max led an acquisition strategy of targeting distressed debt secured by multifamily REO's, which led to the ultra-successful campaign of the acquisition of 20 properties throughout the downturn. Since the recovery, Trion has shifted strategies to the acquisition of value-add properties where value can be created through extensive renovations, hands-on management, and improvement of operating efficiencies. Max's ability to identify then acquire distressed multifamily properties and his expertise in the marketplace have been instrumental in the success of Trion Properties. Prior to co-founding Trion Properties, Max was a Senior Associate at Marcus & Millichap from 2002-2006 where he managed the sale of several million dollars in real estate throughout the United States, specifically in the multifamily arena, elevating him to one of the top-ranking brokers in Los Angeles. What Are You Going to Learn Here? Passive investing Assisted Senior Living Multifamily real estate Migration trends within the US Commercial real estate liquidity Vertical integration in real estate sponsorship Investing during inflation ------------------------------------------------ About Vinney (Smile) Chopra: Vinney is a real estate investor, syndicator, International best-selling author, host of 4 podcasts, multifamily educator, mentor, dedicated husband of over 40 years and father of 2 children-Neil and Monica, residing in Danville, California (near San Francisco) for 40+ years. Vinney came to this country with only $7 in his pocket and a dream. Vinney has now built a portfolio of over 6,500 units amounting to over $650 Million in the multifamily, senior assisted living and hospitality arenas. He is passionate about helping others achieve financial freedom and giving back to our seniors who have given us so much. Learn more about Vinney: https://vinneychopra.com/ Learn more about investing with Vinney: https://vinneychopra.com/investor/ Apply for Mentorship: https://vinneychopra.com/mentorship/ Vinney's Youtube: https://www.youtube.com/c/VinneyChopra/videos Vinney's Linkedin: https://www.linkedin.com/in/vinney-smile-chopra/ Vinney's Instagram: https://www.instagram.com/vinneychopra/ Vinney's Free Book: https://vinneychopra.com/freebook/ ------------------------------------------------

There's no way around it: inflation means costs are up. Insurance and construction are more expensive. When your taxes get reassessed, they're higher. You're paying out higher wages and payroll. It can hurt. On the flipside, there's higher rents to help you offset your costs, as well as a number of things you can do to protect yourself in these markets. So, what do you need to do? To get you the answers you need, I'm thrilled to welcome Chris Litzler, my capital markets broker. Chris is a Senior Director of Originations at Marcus & Millichap, where he arranges debt and advises on equity. In his first six years as a mortgage banker, he arranged over $1 billion in financing across the country. He's done 15 of my 17 syndications and is currently arranging financing for a 296-unit building we're about to buy for roughly $15 million. We talk about what's happening in lending and capital not just for multifamily, but across office, retail, industrial, hotel, self-storage, and mobile home real estate. We also dove into yield curves, and look to the future as we discuss what capital markets will look like over the next two to ten years. Key Takeaways with Chris Litzler The key indicators that you should be taking a look at in today's markets and how they affect your cash flow. How changes in commercial and residential real estate affect each other. What the Standard Overnight Financing Rate (SOFR) is and why it's likely to jump over 100 basis points in the next 90 days. How to focus on stabilization in times of volatility. The risk factors Chris is always considering when possibly buying a new property. 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/272 Rate & Review If you enjoyed today's episode of The Accelerated Real Estate Investor Podcast, hit the subscribe button on Apple Podcasts, 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 My Coaching Program! To unlock your potential and start earning real passive income, visit joshcantwellcoaching.com