Welcome to the Investing for Beginners podcast. In today's show, we talk to Brad Thomas, one of the leading REIT analysts on Seeking Alpha. *How Brad started in real estate, and what is a REIT? *How REITs can provide advantages for individual investors *How investors can get started investing in REITs *What areas to look […] The post Brad Thomas Joins Us to Discuss REITs appeared first on Investing for Beginners 101.
Today on Market View, Michelle Martin and Willie Keng give us an update on the latest of corporate share buybacks in Singapore and what these latest actions suggest about the company's outlook. They also discuss the aftermath of the UK's biggest tax cuts and why investors are moving to sell off the GBP. See omnystudio.com/listener for privacy information.
Overnight, the US Federal Reserve delivered yet another aggressive rate hike, raising interest rates by 75 basis points. How has the market been reacting to it so far? In other news, why is Reliance Retail setting its eyes on the beauty and personal care market in India? Michelle Martin and Ryan have the details. They also talk about the rationale behind SATS's plan to acquire Worldwide Flight services and what's attracting the attention of Singapore companies in Japan's aged care industry. See omnystudio.com/listener for privacy information.
Richard Chilcott is a Principal with the Avison Young Capital Markets Group providing acquisition and disposition services of investment properties to financial institutions, REIT's, private investors and pension funds. Richard began his career in 1991 with Hans House Group, a private investment and development company based in London, England. Since joining Avison Young's Toronto Capital Markets Group in 2001 Richard has been involved with transactions totalling in excess of $5 billion. In over 25 years of commercial real estate practice Richard has completed a wide variety of real estate transactions ranging from smaller private client businesses to more complex portfolio transactions In this episode we talked about: Richard's Bio & Background The transition from the USA to Canada First Notable Transaction Corporate Real Estate The Impact on Richard's Business over the last 2 years Comparison between Surburban and Downtown Office Interest Rates Environment Real Estate Industry Outlook Richard's Advice to Beginners in Real Estate Mentorship, Resources and Lessons Learned Useful links: https://www.linkedin.com/in/richard-chilcott-946b5a3/?originalSubdomain=ca Transcription: Jesse (0s): Welcome to the working capital real estate podcast. My name's Jessica galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, my name's Jessica galley, and you're listening to working capital the real estate podcast. My guest today is Richard Chicot. Richard is a principal with Avis and young capital markets group providing acquisition and disposition services of investment properties to financial institutions, res private investors and pension funds. Richard began his career in 1991 with the Hans house group. We now know that there's over 25 years of commercial real estate experience. And Richard has completed a wide variety of real estate transactions ranging from smaller private client business to much more complex portfolio transactions, Richard, how's it going? Richard (1m 2s): Great. Thanks Jess. It's good to be here. That's a great intro. And it, it, it does seem like I've been here a long time. If you say Jesse (1m 8s): 19 91, 19 91. So you you've, you know that it's funny, a lot of the investors, you know, you won't work with certain sponsors of deals unless you've been through some version of oh eight or 90, you know, their early nineties or some sort of recession to, to kind of understand that the, that we, we live in a cyclical real estate environment. Richard (1m 29s): Yeah, it totally is cyclical. What we're in right now, I think is, is different and a bit more challenging. And I don't have a longevity for that. So I've actually been trying to find some sort of the people who are senior to me and some of, some of the mentors I've had over the years, days, what happens during inflationary periods. That's an interesting, Jesse (1m 49s): Yeah, you don't, you're saying you don't remember the panic of 1907. Richard (1m 54s): No, no. Although someone the other day suggested I should know what was going on in the 1970s and eighties with inflation and strikes and I guess fuel shocks and things like that. So I can just don't remember that at all. Jesse (2m 9s): I can just hear my dad double digit interest rates, but before we, we delve into some of the more topical stuff, maybe for, for listeners, you can give a little bit of a background of, of how you got started in real estate and kind of the path that you took to, to where you are today and have been for the last little while at Davison young. Richard (2m 30s): Yeah. There's, there was sort of one major, major turn in my career when I, when I changed country and went from, from the principal side to agency brokerage. And that was 2001. But before that, it was pretty hard to get, I always wanted to be in real estate. Half of my family was in commercial real estate. The other side was engineering. And that was always the choice, I think. So I looked at other things, not wanting to make a choice, but in the end sort of real estate got me, but it was not easy finding a place to start in the early nineties. So that was in London, London, England, and I got a job and I had a high following title of surveyor for car parks. That was my job. And I was responsible. I, I remember when was 16 or 18 car across, I think all in England, different parts of it. And they, none of them were automated and it was my job to look after everything, to everything, to do with those car as a young sort of 21 year old guy at the end of 91. And I think the people that worked for me totally saw me coming. And, but eventually we sort of got to grips with it, but that was sort of a fun experience as you start off on a very limited understanding of anything, really, and then you sort of, you have responsibility and you grow it from there, but that was an interesting company. It was a development company that would turn its hand to almost anything, right? So they built a, it was a redevelopment company. So you look at being, being such a heavily, already built environment. You could be incredibly creative. You could look at an office building and wonder if you could turn that into a hotel or you could. The one deal we did was a, a pumping station used to pump water in and out of a shipping base, right by tower bridge in London. And we managed to get an option on this building. And then we decide the best thing to do would be to let's make it a residential building. And so we sort of punch this glass funnel through the middle of there, which, which is where the apartments are gonna be. That was in the mid nineties. And things just started taking off. So started off as car park and then sort of shifted out of that is more like an administrative role into other things. We built some pretty cool things. A lot of the times we would entitle sites come up with a concept and then sell 'em before construction. It was a small company. It was great fun. Hmm. And then in the end I moved to Canada. So that was 2001, everything, everything for me ended at one, I married a Canadian in London and that was the deal. So we were shoot to three years in London and I'd do three years in Canada and we would end up where we ended up. So I don't think we ever look back, but Canada's an amazing, an amazing place. UK's an amazing place too. So I've just been back and it's, you, you, you remember all the wonderful things that I got up to there, and what's just an amazing vibrant environment, but Canada's got lots going for it when you're sort of starting a young family and other things like that. So, Jesse (5m 46s): So that transition, that transition from the UK to Canada, the, did that, did that coincide with working over here for a, a UK based company? Or did you switch jobs with the Richard (5m 60s): Move? No, it was a complete switch. I didn't actually have a job when I came. It was just, it was, it was a good sort of break in deals. And I knew I had to do my three years. And so it just a good time. And my wife had got a great job back in Toronto where she's from. And so it was just if it didn't work out, we'd go back. Right. So it was, we were pretty lucky. We were very lucky immigrants, right. We had a great job to go to and no language barriers and things like, so we were, we, we were pretty privileged in how we could go back boards if we wanted to. Jesse (6m 32s): Yeah. Pretty good. When you're coming from, from the country that invented the language. Richard (6m 38s): So it sort of invented itself if you think about it. Jesse (6m 43s): The, so when you came over here, you kind of, as you got into the job market was Avison young. Did you start in 2001 at Avison young? Is, is that I Richard (6m 53s): Did. I got a, I got a, I didn't know what I wanted to do, but obviously I had a real estate background. Yeah. And it was a pretty quiet time in Toronto at that time. I think the, the tech crash was in full swing and I don't think Toronto had actually recovered from its late eighties, early nineties crash. Whereas London already had, London's a bit of a hedge fund economy sort of boom and bust. And it rebounded super quick. I don't think Canada had, there was still the stump that, and, you know, SAU hadn't been built, but it was, it, there was still construction and development, but it was Jesse (7m 30s): Sorry by, by the stump we're talking about bay Adelaide parking lot bay Richard (7m 34s): Adelaide was. Yeah. I think I only saw the end of the stump. I think it was there from the early nineties. So Jesse (7m 40s): For, for non sorry for non-Canadian listeners bay, Adelaide was probably the, the, the textbook example of something that was built and never finished until the economy recovered. But yeah, that's, it's, it's such a good meme or, you know, symbol of, of that time and Richard (7m 57s): Error. I think it was the elevator shafts, the sensational office building yet to be built, which was still because of the recession. So it was, but the parking lot was built. Like all of the underground was done. It was a fascinating you're right. It was at the time you could just, you could, it was, you could see where the economy had stopped. Like you'd actually physically see, see it, which was interesting. Jesse (8m 20s): Yeah. Richard (8m 21s): But, but Canada was, there was a lot of, there was a lot of suburban development, but particularly in residential. So it was sort of Greenfield, you know, large housing estates and subdivisions, which I was, which is a complete to what I've been doing in, you know, the city was from, so I did, I went for a few interviews. I went for, I went and I got offered a couple of things. Someone actually famously said, you, you, I wanna offer you this job, but you'll stay for four months, which was sort of interesting. So anyone's listening as I think a lot of people have had that where you, you sort of, you overqualified. Yeah. But you're not overqualified cuz you went for the job. So, you know, I would tell all the employers take these people. They, they could be pretty loyal and stay with you. And in the end it, it became, the realization came to me that I just don't think I could do development and I didn't really wanna do asset management or anything like that. And so I couldn't continue what I, what I'd been doing before. And I had sold a whole bunch of investments for our, our company in London through some agents. And then they set me up with a large international brokerage and they actually offered me a job which was greater than, and I didn't take it. They sent me to see a whole bunch of expats. And is there a difference between agency brokerage, each side of the pond? Is there a difference in how people are and businesses are and things like that? I, it didn't cross my mind any, there were any differences, but they me to see all these expats and they said, look, you know what, when you, when you come over, you might want to, you might wanna start in a village, right? And that village will make sure that you are meaningful and that you've got a contribution and you sort of find your feet and then you can go and join the big company. That was what they said. So at the time Aon was Aon was a very small company, but a number of these people, I think I went to see eight people. And I think four of them, many of whom is still the business said, no, you should go and see a guy called Robin Whiteson young. Who's Robin is an itself. And so I came to Robin, this company full of Canadians and a couple of Brits in it. And it was just a great little company. And you could just, it wa because that time wasn't about the money, it was about just feeling, you know, making a new life somewhere new on my own. Right. So I certainly didn't wanna have my entire life wrapped up with my wife's life. Yeah. Might edit that out. I dunno. It's possible to leave it in, leave it in. But yeah. So the idea was to sort of create your own, your own life business and, and with the, and with the people in business that you wanna be with. So, and then, so I stayed. So I actually went into, I worked for, for the investment department and I actually took a step back. So you learn a lot of humility when you, when you do things like that, you take a step back. And from being who I, I thought I was, you know, a pretty hot young developer with everything going for me. And then you come and work for a company and you've become, you become the assistant. So I was the investment department assistant. I went actually from having my own secretary in London to actually typing people's emails. There were some people at Aon years ago who didn't want to convert to doing things like that themselves in 2001. And I actually typed their, they would, they would give me scraps of paper and I would type their emails for them and improve them in bigger. And I do the financial underwriting and analysis too. So, yeah, but that was, that was quite the experience. Just taking a step, you take a step back to go forwards. Jesse (12m 12s): Yep. Absolutely. It's one of those things where, you know, even, well, we call them associates now, but the, you know, the assistant aspect, it's just the nature of real estate for anybody that's, especially on brokerage. They want to break in. I'm curious, the, I don't think we've ever talked about this in terms of the real estate or redevelopment, the, the UK version of real estate and, and the way people operate in this space. Did you know, were there some stark differences between Canadians and real estate, which I assume somewhat similar, maybe not as aggressive to our us counterparts, but did you notice a different way of working between the UK and Canada? Richard (12m 51s): Yeah, I mean, in terms of market to market, Canada is a real interesting place because it has its its major connotations and is a major country in terms of population and GDP, but it's very spread out. So you don't actually see that same power as you would in, in a country of an equal size. Now I know the UK's bigger, but you don't see it because it's geographic sort of spread. If you know, Vancouver exists at one end of Ontario and Montreal, the other end of Ontario you'd have these sort of three powerhouses and put Calgary somewhere else. It would be incredibly vibrant and very competitive place because of the geographic difference. You found that there, it wasn't an enormous marketplace. You found people operated in a marketplace and there was a certain amount of them. And so everyone had that sort of dis everything was dispersed. And I think the other thing which was great is that you could telephone and speak to anybody. And I think you still can in Toronto and it's, I don't think people in Toronto realize how amazing it is, how open people are in. And maybe you found this with your show, Jessie, right? People are super happy to take a call and find out what you're doing and who you are. And it's not, not as if you needed to speak to a friend to get an intro, which is sort of how it was for the, if you wanted to speak to the big wigs of London, we had to just, you had to sort of almost go through to start with and made it, there were so many of them, but I actually think it's more sort of more about, so Canada was great from that perspective, everyone's open everyone's available, but there was, there was certainly less business. It was a much smaller marketplace. And, and again, you know, half the population and I don't know, I dunno how much bigger it is. Is it 50 times the size? I dunno, it's that creates in itself just a thinner layer of clients and customers in business because it's spread. So, so thinly. Jesse (14m 56s): Yeah. I've never actually thought about the, kind of the major Canadian cities, if you house them all in, you know, Ontario where, you know, our province, which you probably could fit, you know, Italy and, and another other decent sized countries in the actual, yeah. It it'd be a fairly crowded room. Richard (15m 14s): Imagine what the sporting events would be Jesse (15m 16s): Like. Oh yeah. Richard (15m 18s): It would just be, it'd just be unbelievable. Jesse (15m 20s): So Richard, your first notable, or kind of sizable transaction when you started working, I assume you started in the, in the investment side, on the cap markets team. Richard (15m 31s): Yeah. I started started the cat markets and then we, we did with a number of interesting. So I think it was very much a midmarket firm when we started and very, very creative and we worked. So I, I ended up sort of teaming up with Robin white and John Gordon, Robin is still still practicing today and sits in the office next to me. And typically office is what we would do, but we did a really interesting portfolio, which was a, a breakup of a small portfolio for Woodington properties. There were his historic Loblaws premises through a number. And I think it was 14 buildings across sort of the GTA and write it down as far as Windsor. And so that was quite a fun experience. There were a number of agents on the team and I sort of sat in the middle as the analyst, if you will, to sell these all different sort of shapes and sizes of assets, but some, some had become restaurants and some had become office buildings. I wanna become a movie theater. And it was just an interest. That was a really interesting process, but that wasn't typically what we do. We typically sold, sold office buildings. I actually made a mistake on underwriting. One deal, which Robin laughs about to this day, because I didn't put a vacancy allowance in my numbers. And the guy said, wow, you're 10% higher and everybody else, but you won it. We won a pitch. And it told me that that was sort of POS. That was a positive mistake. Jesse (17m 11s): That's a good lesson, both ways. It's almost that, that fine line of when you, when you win something, if you, you have it too high, you're like, okay, how am I gonna sell this now? But yeah, I think that's, yeah, this, this building, it doesn't have any vacancy. That's pretty standard. Richard (17m 26s): Yeah. No. Well, as a, as a small company back then, you had to outperforming underwriting. You, you know, people were always wondering if you'd missed something we never did, but that was one occasion we did, but it had a positive outcome. We sold that building a great experience. We did a lot of, but it's it, it was it's, it's exactly the same business as it is today. There's many more players, many more buildings, oh, RAs makes this make me sound, just making me sound super old, but it is a much bigger city now, but we would for, you know, we would have to photocopy boxes or leases, literally deliver boxes. Thank goodness we got rid of that pretty soon after it started. And we actually got into digital age and we used to deliver a CD. It's a, it's, it's bizarre to think about today, how much got done without that technology. And I, you know, my first, my first desk outta computer on it, and we had spreadsheets and we did analysis and desktop publishing. But before that people would do their analysis with a pen and paper and it was, I, I have no idea how they did it, but I think my assumption is that today we can run 3000 models to work out exactly what we think's gonna happen with an asset going forwards back then they did it three times, but they did it right. So I just, it, you know, that's a discussion about efficiency. So Jesse (18m 59s): What, so when you, when you got started on the cap market side, I think this is a common question. Whether it was back then or, or today we have listeners that invest in, in commercial real estate, in retail multi-family office. But in terms of where the place that you started in, I find that, you know, if you wanna do leasing the barrier to entry barrier to entry, once you get in with a company is fairly low, you can, you can basically have a, a rockstar first couple years, if you hit the right tenants or right clients, you know, the same thing I think goes for multi, multi res now in terms of office and more what I would call more corporate real estate. It's, it's a matter of, you know, where do you even start? So when, when you got in the, in the game, you had Robin, so you had a, a senior person, is that still to this day, really what you need to break into the more Richard (19m 54s): Side. I mean, you, even if you start, even if you start in the private business, even you start with private clients in the smaller end of the marketplace, you still, you have no track record and you are going market dispose and advise on someone's carefully purchased and nurtured real estate investment. And if you don't have a track record, it's super hard. So you don't, you don't borrow a track record, you have to bring someone who's got one. And then I think you, you know, you start off as a junior and then you come alongside them. And then perhaps you can either break out on your own or go further ahead. But we did, we, we tell people to join our department. There, there is a very, very long incubation period. And if you, if you know, maybe I don't even wanna put a number on it, cuz I think it frightens people off, but it's, it's a long time. If you were gonna do something on your own before you, before you can get that sort of track record on your own. Yeah. So you need a team. So it's a very much a teaming environment always has been and there's, and there's also enormous amount to do in underwriting valuing marketing. There's just a lot of it. And none of it, in my opinion is rocket science, but it does take a village to get everything done. So you sort of have to have that in you as a, as a human being, to be a share and a team player from day one. And I think you find that in cap markets, teams across Canada is that there are few people who are very individualistic. Like everyone has a team around them or they're part of a team. Or, and I think you'll find those people are pretty much interchangeable as individuals in other people's teams or other people's companies perhaps. Right. So I think, and that's a great accolade to my peers in the, in the industry. They they're, they're good people who do, I mean, I think we can, it's rare. You can find something that someone else hasn't found in a way to evaluate or, or underwriter a transaction because there's a pretty close group of people out there. Jesse (22m 11s): Yeah. Yeah. And I, you know, we look over at the capital market side and definitely there's similar similarities. I think for, you know, if anybody says two, three years in the industry, I, I don't think it's even close in terms of how much time you really, if you want to commit to this industry how much time you actually have to give it. But I always saw the cap market side, especially the institutional side as even a longer incubation period. Like you're saying as opposed to some of the other groups and it's, you know, you start selling to institutional and if you're just a new person in the industry, you can be the smartest person in the world, but there's no credibility there. And unless you're bringing somebody to the table. Richard (22m 47s): Yeah. And I think the, the other thing which I'm always conscious of is that our client, our clientele on, on the private, all the institutional side, they are there for your entire career. There's, there's, there's a finite amount of them. The city's the city's now much bigger. We all, you used to be able to know everyone now that's impossible, which is so of interesting dimension now. So that's a little bit more like how it started when it started career in London. There's, there's way more diversity of clients. There's so many more of them. You don't know everyone and be all things to all people you can have, you can have favorites specialties. Yeah. But I think the, the people you will meet, if you're a start as an analyst, people you will meet as an analyst in your twenties will be the people you perhaps are working for on the institutional side in 30 years time. Right. And that's, that's sort, sort of cool, but it's also a bit daunting. Yeah. Because you just can't make a mistake. And if you do, you gotta own up and be, you know, super. And that's sort of, not, not that it's easier in, in the other side of the business to say leasing, but there's just many more of the, the Cleon on the leasing side. Right. So cuz you have the tenant side too, so yeah. Yeah. It's an interesting, it's an, it's a very interesting marketplace and some very, very smart people work in that marketplace. When in Toronto, our clients are very, very talented people who spend a lot of time learning their craft and they know an awful lot about the marketplace. So again, that's where sort of that little stretch where you have to learn some humility, it, it just sort of fits well, it, your clients know a lot more than you sometimes about the marketplace, which you are selling it to. Yeah. Which is quite interesting. Jesse (24m 45s): Yeah, for sure. I think, yeah. Especially when you're, you're dealing with whether it's private or institutional, you're dealing with ownership. I find a lot on the private side too, because it's usually their baby or babies, you know, they're building or portfolio. So over the last, what is it now? Dare I say two years, Richard (25m 3s): Don't say, don't say it. Don't say Jesse (25m 5s): So we've gone through kind of a, you know, we'll be analyzing this in the same way that, you know, MBAs and, and real estate streams analyzed the nineties. Oh 1 0 8, the, the players that emerged on top of the market, you know, multi res industrials gone crazy over the last couple years. How has your side of your, your side of the business, how has that been impacted over the last year and a half? What are you doing differently or, yeah, Richard (25m 34s): Super interesting. Look. Most things seem to be, like I said, broad statement, but most things seem to be cyclical. We didn't sell an awful lot of industrial as a company when I started cause we didn't have a lot of industrial work and we, it was just a very small company and subsequently that has burgeoned. And we have a very, very like top tier group in a number of offices around, around the world and certainly in Canada for industrial. But when I started, it was a, it was a relatively quiet area of the business. A lot of the product had been built in the sixties, seventies and eighties and was already sort of tired and there was no income growth to speak of Europe. Five 50 rent was pretty good, whatever you did to the building, you get five 50 rent. So it was a very, it was, it was pretty black. And then to get those numbers up, you had to have something pretty sensational, but then the tenants may not have paid for it. So, and then it all started moving. There were lots of changes and I think we're going from, you know, manufacturing to warehousing and distribution plus population growth, entities, cetera, and just gen the way that industries worked just in time and things across the world, we need more warehouse per person. And we had more people. So that was sort the main driver with industrial office. At the same time when I started, it was a real flavor to move out of downtown. And I think maybe it was the end of that period, but people were building pretty cool office building for the suburbs and then moving whole apartments out to the suburbs where people who get a great house and they could community leader work and they could bark in the parking lot. And that was sort of, that was sort of new and fresh. And there was a major tax differential to downtown Toronto, just the, just the suburbs charge, way, way less of taxes. And I think that that sort of ended as I, as I, as I arrived and came up with some great policies to, to build buildings and bring people back, not not least of which is transit, right transit. The one place everyone can get to the GTA is downtown by transit easily. It's the only place. So, I mean, they're the two sort of major things that have happened. And now we seem to roll further. Along from that there's discussions about the value of retail. Retail is, is fabulous in segments of it, of its issues and are tired and old and may not come back. But the other components, it's something that everybody needs everyone to go shopping. You don't necessarily need to go to a store, but people like to go to stores, right? So we found that's a far more robust industry than people thought at the start of COVID office is really interesting and that we we've sold. I've sold a lot of office buildings in my career and they do tend to come in and out of favor, they're sort of high, a high or high capital high reward assets. And I think what's happening right now is working out how much space people need, where they want it is the commuting gonna continue. If you've got work from, there's just a lot of questions about it, but I've no doubt that it is a fabulous asset class. And even though we've got the technology not to be in the office, the way humans work is it's great. If we get together as much as possible without ruining the other, the other part of people's lives or the efficiency of it, right? So office will come back, but it is definitely going through a softer period and the prices you can buy office that are significant discounter replacement cost. And now, now in the GTA, you could, you know, you could throw a building away and say, great, we'll just, we'll build something next door on the Greenfield. You can't do that anymore. So there is value to all of this older product that into whatever you might wanna change it into. And then you get into a discussion about, well, what do you wanna change into and what creates jobs? And that's where perhaps you get the, the fight between the developers and municipalities. So, and that will go on forever. That, that, that fight. So, Jesse (30m 2s): So on the office piece we had, we, I think it was last week, I was speaking to the chief investment officer for, for crowd street. And we were talking about office space and kind of the bifurcation between downtown assets, well position or, you know, in theory, well position assets versus suburban office and with places like San Francisco, New York, Toronto, all these, a large majority of these north American cities still have not had the people come back into the office in terms of some of the cell phone data that we gather in the vitality index. Do you see a, a positioning, a difference in positioning as, as it relates to the comparison between suburban and downtown office and maybe just as a follow up, you know, what, what are they gonna have to do downtown in these, in these office buildings or these investors that, that own these assets to entice companies to want to be in the office and want to be in space that I guess has more amenities. Richard (31m 5s): Ah, now that's you could probably look, I definitely got an opinion and I, you know, my, my job is to value them and sell them and advise on them as opposed to fill them. But there's some, there's just some thinking that is me going on lately. If you, if you want people to come back to the office five days a week, it's gotta be easy and quick to get to for your staff. And it's gotta be a great place to be. And that's sort of where we have problems, because if you've got a, a, let's go, let's got the suburban belt around Toronto, the 9 0 5 belt, it could take people an hour to get into the office and then there's a cost to it. And maybe there's more time than just the hour on the train. Maybe there's a bit longer. So you got one hour 20 each way, five days a week, that's look, this isn't, this isn't an official policy. It's just an open think Jesse. And the thinking is, if you're gonna make people do that five days a week, something's gotta give right. You can provide them with amazing space, but that isn't really how they want their lives to live, particularly when they can pick up the computer and work from anywhere. Right. So you, so perhaps that is a positive suburban office. So perhaps a suburban office is where you have your, the people that you want all the time in the spoke, the hub and spoke discussions that you've, I had, you know, perhaps that's where the spoke is. And then you have a sort of suburban location. And then the hub perhaps is work from home, telling everyone comes downtown every now and then. And that's where everybody in intermingles. So it's a complicated, it's a complicated theory, but because it's two things at the same time, and I think everyone's trying to avoid you two things at the same time, but they might have to do that. And I just have no doubt that like our younger staff learn so much, if they're in our offices and we have an open door policies, you know, and you just learn, you just learn and you don't have to like, press a button to call anyone and ask this Jupi question because there are no stupid questions, but it becomes a stupid question. If you make a, if you make a deal out of Jesse (33m 24s): It, right. Make, make a zoom call for, for the stupid Richard (33m 26s): Question, that's right. A zoom call for a comma is stupid. But if you call through someone's doorway, if not stupid. So I think that sort of humanity is gonna have to start factoring in and I'm not quite sure that's that's happened yet. And I think the other thing is we've got this crazy well, it's crazy in a historical sense is the cost of refurbishing office space to the standards that one wants today is really a real problem. So maybe it's $200 a foot maybe, but you can't get those rents. The rents that would support that unless you're in top accommodation downtown. So maybe that's a supply chain thing, identical, but it, it, if you do look at suburban office, look at the, you know, the average price per square foot suburban office is two to 300 a foot, but it's gonna cost you four to 500 of it to build it, let alone the land, which now competes with industrial lab, which maybe three, four, 5 million acre in those areas. It just something's, something's gotta give, and to me, it just looks as if those opportunities are very, very cheap, but I can't quite see, see the, the end of the tunnel on that yet. Jesse (34m 41s): Yeah. Well, that's good to hear cuz those of us in the office world, we, we can't either right now it's you never really know you're in something until you're playing Monday morning quarterback When it, when it comes to the, so if you, our advising clients that are investors, asset managers, institutional clients that actually own this type of real estate that we've kind of come out of this, this world that was crazy for a while and the extra wrinkle just cuz we hadn't had enough, was the interest rate environment very different than it was a year. Yeah. Even a year ago. How does that inform if it does, you know, to what extent does that inform your advising with clients? Is it them that's calling you, calling you to consult on that? Or is, is it something that's, that's a key piece of the, the decision making? Richard (35m 33s): Yeah. Debt is a, is a, an invaluable part of the capital stack and it's become more and more and more so. And even to the extent was if you are a large institution of buyer and are forbidden or don't want to use debt, you will still underwrite as if you, as if you have a need for debt so that you actually make a market judgment. That seems to be what our clients do. So it's such an important part. I think it's a really integral part of modern life as well. So if it's, it's sort of the interest rates sort, the one stick that the central banks have in terms of controlling sort of monetary supply. And if you just keep printing money in doing Q and having sort of QE to get us out of a hole, at some point you've gotta sort of constrain that supply. And the only tool we see or one the, the main tool I say we have for that is, is an increase in, in the I rates, which gets passed onto everything else. That's gonna have an undoubted effect on the value of real estate because you still need a spread to risk adjust to non-risk returns. So if you've got real estate has some risk to it, different real estate, there's a lot more risk to it. You need to have those absolute, absolute spreads. And if you are return increasing with non-risk investments, then you're really gonna have to probably move your pricing out. But what goes around comes it'll come back again. As you know, as your, your dad's comment, when, when you're a kid, I think I hear a lot of those scar stories. I would never have wanted 18 mortgage or even I've never even had an eight mortgage. It's all sounds a bit frightening, but you know, my grandfather was in development in the 1920s and he this, when I was real estate in nineties, he said that had interest rates in the 1920s. And I said, well, that must, that must have been amazing. You know, that must have been just great. You could do so many deals. And he said, no, everything was expensive. So I guess it's all relative to me, the, the, the, the actual interest rate is relative, but the availability of that component of the all components of the capital stack, but it be equity or debt, the availability and the liquidity of those markets is far more important. So if tomorrow, someone said you can't get any debt. It's not that it's changed from three, your or 5%. We don't lend that will cause huge problems. Jesse (38m 25s): Yeah. And in terms of the, in the landscape that we're, that we're seeing with that I've heard just kind of anecdotally companies talking about more looking for properties that are, that are not free and clear and potentially having an assumption of, of current mortgage rates, because they are at, you know, what is now considered much lower than the current, say five or 10 year commercial loans. Are you seeing that is, or is that just, you know, is that just banter in our space? Richard (38m 55s): It's what people used to do, Jess. I mean, we, people used to look when we've gone through these sort of periods before people, people used to look for those assets getting paid for it is another matter, right? It was you more than anything, a lot of these things don't necessarily change the value of the product, but it does. It may do indirectly, not as directly as well. I think, because what it does is improve on your buy a pool, improve. Lot of people who are looking. So a couple of people would look at it because it had that sort of low debt. Perhaps they get a larger spread on it. Does it improve the value? I guess indirectly it does. Yeah, but I mean, Canada is such a, a, well, it's a very well structured environment that has pretty conservative debt in commercial lending to start with. So it's not a country where you see people setting up voucher funds and trying to take people outta trouble because they're really people aren't actually in trouble. They're just not as great as they were last month. Jesse (39m 51s): Yeah. Fair enough. So we've got four final questions we ask every guest before we, we get to that just generally speaking, are there certain aspects of our industry and it can be asset class or just trends that you think are, you know, positive and, and you think are on the horizon, that, that you're bullish on Richard (40m 14s): All of it. And I, and I don't mean that to be facetious. And I think that's the country we sit in. It's a very, very special place. We're very lucky to live where we do. And I think that goes to many parts of the world, but, but some, obviously it doesn't apply to. And what we've got is a, is a, a fair system and we've got, and we've got people who want to come to Canada. And in the long term, that's probably, you know, there are some, there are some finite things in the world there's real estate, but not that we have experienced it yet, but there's also population and population growth is tailing off. Notwithstanding what the UN is. I think this week we hit 8 billion people around the world. The countries like Canada, it's very easy to grow the economy. If you have more people and if you attract great people, it's even easier. So there's probably gonna be some more competition people, but that's the long range view of Canada is fantastic because we haven't hit 40 billion people. And it's the second largest country in the world. And it's a wonderful, wonderful country. It is amazing place with amazing people. So that's why all aspects of real estate there'll be nuances about what the next flavor is and what the past and the future looks like in immediacy. But speaking, it's very positive. So it sort of sounds flippant, but there's a, there's a reason. Jesse (41m 37s): Oh, I like it. All right. So four questions, Richard, what would you say to somebody that's trying to break into our industry? Somebody that's just starting their career, whether it's in the stream that you took or, or just generally in investing or brokerage, Richard (41m 54s): What would I say to them? Jesse (41m 55s): Yeah. What Richard (41m 56s): That's, open-ended in, where they would, where they should start, where they should go. Jesse (42m 1s): Yeah. Yeah. It's somebody that's trying to break in. You know, what, what would you do kind of, you know, your, your 21, Richard (42m 9s): I think people need to analyze what their personality is because there's so many components to it and you know, you and I can see that in, on our side of the business, on the brokerage side, let alone, let alone on the ownership side or the construction side of development. I mean, it's a fabulous business, but you do sort of need to know where you, where your mind fits. So if you are an instant overnight person, maybe you don't wanna go onto, maybe you don't wanna go to capital rockets, brokerage, because you have to build a, build a track record, learn the tree, and that goes for everything. Right. So I think that's what I would say is that you do sort of need to know yourself a little bit. And if you dunno, go try but be open, ask as many questions as you can. And that's a, that's a wonderful thing about the industry. You can ask anyone anything, and they will give you a genuine answer. They will try and try and make the time to, to, to give you the time of day to, to give you, give you a functioning or thought out answer. And I don't know if you find that in every industry, but certainly real estate is great for that. Jesse (43m 9s): Yeah. It's I mean, it's come up time and time again on this show, we've talked about how we're, we're lucky in an industry where a lot of the senior, the veterans really do want to give help to people that are curious and interested in, in our space. What's something that, that, you know, now in your career that you, you wish you learned when, when you're a younger lad. Richard (43m 32s): Oh, well, when I first started work, I it's, one of the simplest of things is a lot of things got right when I started being an analyst at Avis and I start ma making lists. Whereas I did development work. It was sort of, I was less list conscious and I sort of tried to juggle things. You can just get so much done if you made lists. Yeah. It's, it's absolutely crazy. I wish someone had told me that when I was 17, Jesse (44m 3s): I like it. I'm definitely in that boat, you know? And when you're younger, you're always like, ah, I'll remember that. I'll remember that now. You're just, you're like, you, you know who you're dealing with, you're dealing with the person that, that didn't remember it last time. And yeah, sometimes it just takes some time. Are there any resources that you would find useful for listeners for real estate, whether you know, a book on a book in our space, something you're reading a podcast you're listening to? Richard (44m 32s): No, I think I, I think some of the industry groups are really good. Like NAOP is a fabulous industry group and you can find different, different parts of NAOP, which would be appealing. And they, they do a great job and they do a really good job, I think, events or thoughts about the junior members, more so than the senior members, which is great. So that's a good one to follow you. You, you do have to know your math. I, I can't remember the names. I, I can't remember the names of the books I had, but there was one, one book. I don't even know if circulation, but it was by a guy called Jack Rose. It was square feet. It was a picture of a square foot on the front, obviously. So, but that was it. But you do, I think you do. I would just, I wouldn't, there's nothing I'd necessarily recommend other than you do have to work out. I do the math, right? The math is it's actually really, really straightforward math, but I come across so many people who do not understand the connection between a cap rate dropping and a price going up. And I'm just flabbergasted how people have not. And they literally don't understand it. And I'm flabbergasted at that. And I would, in every one of them, I will take them to one side, get posted note and actually show how it works, because it is the simplest things. But so being inquisitive as you can, I think, because it, it, ain't hard. Jesse (45m 56s): Yeah, for sure. No excuse not to know it. All right. Last question. Stole this from one of my favorite podcasts, Bloomberg masters in business, first car, or make and model. Richard (46m 7s): Oh, seriously. Okay. That is an interesting question. I had a, I grew up on a phone oddly and in the, in east, in the deepest countryside. And I was given when I was 13, a 1964 land Rover, but it didn't work, Jesse (46m 29s): But it didn't work. Richard (46m 30s): It didn't work. And it was a summer project to get it working. And it took me most, most of the summer, but the end of it, I had this fantastic thing to drive around the field, which was great. So that was my first. That was my first love. Really? Jesse (46m 43s): I thought I was gonna get an, an mg or an Opal or something. Richard (46m 47s): No, I had some great cars in London. No, I had a, yeah. I had a Lotus and I had a TVR, which Jesse (46m 52s): That's right. Lotus of. Richard (46m 54s): Yeah. But do you, life changes, you pick up, you pick up, it's a rolling stone. Yeah. Jesse (46m 60s): Not a lot of, not a lot of grocery. You can carry in the Lotus of spree. Richard (47m 3s): That's right. Jesse (47m 4s): Fair enough. Well, Richard, I appreciate you coming on the show for those that are interested in kind of the cat market side, is there anywhere they should kind of, aside from LinkedIn or a Google search, where, where can we send them to? Richard (47m 19s): No, I think come find me or Jesse on LinkedIn or com you'll find us, I'm super happy to speak to anyone about the business, what we do, where it may be going. And I'm the first person to say, I can be wrong, but it's great to have a discussion because no, one's got a monopoly on wisdom. So I'd love to hear. Thanks very much. Jesse. Appreciate the time. Jesse (47m 38s): My guest today has been Richard Chicot. Richard, thanks for being part of working capital. Richard (47m 43s): Thanks, Jesse. Jesse (47m 52s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you like the episode, head on to iTunes and leave us a five star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one. Take care.
Sam and Derek do a one on one episode to discuss how your spending habits change at various high wealth levels. The guys break down real cash flow, income growth and spending habits for income brackets from $10-30 Million, $30-100 Million, $100M-1 Billion & $1 Billion + net worth. Sam belongs to one of these brackets already and is able to share his personal experiences on this while for Derek this is more of an aspirational episode as he hopes to be in these brackets soon. Listen to ILAB 247 on iTunes here or subscribe on your favorite podcast app. Where we are: Johnny FD – Ukraine / IG @johnnyfdj Sam Marks – Barcelona / IG @imsammarks Derek Spartz – Los Angeles / IG @DerekRadio Sponsor: IndeedIndeed knows that when you're doing everything for your company, you can't afford to overspend on hiring. Visit indeed.com/ILAB for more details. Discussed ILAB 130: Family Offices – Lifestyle Strategies of the Super Rich with Richard Wilson - Invest Like a Boss Like these investments? Try them with these special ILAB links: ArtofFX – Start with just a $10,000 account (reduced from $25,000) Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) *Johnny and Sam use all of the above services personally. Time Stamp: 05:45 – What does it look like to be in the $10-30 Million income bracket? 12:40 – What does it look like to be in the $30-100 Million income bracket? 23:00 – What does it look like to be in the $100 Million -1 Billion income bracket? 35:40 – How would your life change if you had $100 MIllion? If you enjoyed this episode, do us a favor and share it! Also if you haven't already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2022. All rights reserved. Read our disclaimer here.
Are we running out of water? - Paul Pittman, Chairman & CEO at Farmland Partners, Inc. | Riderflex - Recruiting & Sourcing Are we really running out of water? Paul Pittman is the Chairman and CEO at Farmland Partners. He provides a quick highlight on the real story behind the perceived water crisis and what it really means. Mr. Pittman grew up in a farm family and has been buying and operating farms since the mid-1990s. Many of his farmland assets in Illinois, Nebraska, and Colorado were contributed to Farmland Partners Inc. at the time of its initial public offering in 2014. Paul has served as the company's Chairman and CEO since that time. Farmland Partners is America's biggest farmland REIT by acreage. They are a publicly traded real estate investment trust (REIT) that purchases, leases, and manages high-quality farmland throughout North America. Farmland Partners believes that by investing in farmland, they're investing in more than real estate – they're investing in rural America and the people who feed and fuel the world. Farmland Partners, Inc.: https://www.farmlandpartners.com/ Watch the Full Interview: https://youtu.be/CPl77zgKdMQ On the Riderflex podcast, CEO Steve Urban interviews some of the most successful entrepreneurs, CEO's, and business leaders. Hear them tell the "REAL" stories of what it's like to start and lead businesses. Riderflex is a national, Colorado based, premier headhunter, RPO and employment agency; recruiting and searching the top talent for staffing your teams. Top Executive Recruiting Firm - https://riderflex.com/ Podcast sponsor: Marketing 360 is the #1 platform for small business and it's everything you need to grow your business. marketing360.com/riderflex #PaulPIttman #FarmlandPartners #Agriculture #REIT #podcast #interview #entrepreneur #BestColoradoRecruitingFirm #BestExecutiveRecruitingFirm #staffingagency #employmentagency #headhunter #recruitingfirm #staffing #staffingfirm #Denver #Colorado #National #Riderflex --- Support this podcast: https://anchor.fm/riderflex/support
Ken and the Sage Of Trades continue their conversation on what to expect in Q4 on wall street. The Sage gives his bullish tickers for Q4. Get ready to take notes in this informative episode.Connect with Sage of Trades on Twitter@thesageoftrades Subscribe and review on all your favorite platforms.AppleSpotifyIHeart RadioGot stock market questions? Send your question to Ken on IG@AskBlanksQuestions will be answered on future episodes.Register to our live webinars. Get the early bird special belowSign up hereWe would like to thank our sponsorsColeman Austin Legal Shield 313-218-1527CRC Financials LLC 313-268-7205 ask for Carla WilsonDrone Logistic Services 908-209-2794Black & White Look Otical 248-255- 6444Listen on all major podcasting platforms.SpotifyAppleIHeart
Listen to Dutch update the RADD REIT investors on this month's live RADD REIT Zoom call. Hear Dutch talk about the process of investing in the REIT, how the RADD REIT works and the investing fundamentals of the REIT. Understand what Location, Location, Location actually means and hear what is happening on the Idaho farm and with the acquisition team. Hear Dutch answer all the questions our investors have about RADD in the second half of this live call. (00:55) Welcome and updates (04:00) How we achieve great returns (11:00) If you don't love America (12:00) Our farms are doing amazing (15:00) Q&A how RADD REIT started (17:45) How much growth do you expect to see in the next year(19:00) We do distributions (23:45) Education Matrix (26:00) What RADD is (35:00) What happens if Dutch dies (38:00) How to get involved in crypto (38:45) Where are your holdingsThe RADD Podcast: Explore Wealth is an exploration of Wealth, Finance, Business, and Entrepreneurship. Hosted by Dutch Mendenhall, founder of RAD Diversified and visionary behind the American Survivalist Project. The Topics of Discussion include Alternative Investments, Real Estate, Tax Auctions, REIT‘s and more. Episodes are posted weekly, enjoy.9 Horrible Mistakes Investors Make Selecting A Property Downloadable PDF RAD Diversified.comThe RADD Podcats YouTube Channel View RAD Diversified Offering Circular
What's are the differences between the rental market and the home-buying market? David Auerbach discusses this, as well as The Home Appreciation U.S. REIT ETF (HAUS). He talks about trading opportunities in REIT stocks, such as AvalonBay (AVB), Equity Residential (EQR), Mid-America Apartment Communities (MAA), and American Homes 4 Rent (AMH). He then goes over finding value in real estate. Tune in to find out more about the stock market today.
Wer kennt Sie (noch) nicht? Dina Reit von SK-Laser, konnte ich für ein tolles Podcast-Gespräch gewinnen in welchem wir natürlich(!) über die Lasertechnologien und Möglichkeiten von SK-Laser gesprochen haben. Wo liegen die Hauptanwendungen und Grenzen der Laserbearbeitung? Wie kann man diese Prozesse automatisieren? Wie kann man sie optimieren und beschleunigen? Diese und viele weitere interessanten Fragen kannst Du dir in dieser Podcastfolge anhören. Viel Spaß dabei. Mehr Infos über Dina und SK-Laser findest Du hier: https://bit.ly/3KOHrei https://www.instagram.com/dina.reit/?hl=de https://www.sk-laser.de/ Hast du weitere Fragen, Anregungen oder Kritik? Dann schreibe mir einfach eine E-Mail an: email@example.com Gerne kannst du mich auch über LinkedIn erreichen: https://bit.ly/3pe5icK
Industrial REITs have outperformed in the last few years on the back of the e-commerce and logistic boom. However in the era of rising interest rates, what does this mean for REITs? Chan Wai Leo, CEO of AME REIT tells us whilst telling us about their asset injection pipeline and their plans for asset enhancement.
Industrial REITs have outperformed in the last few years on the back of the e-commerce and logistic boom. However in the era of rising interest rates, what does this mean for REITs? Chan Wai Leo, CEO of AME REIT tells us whilst telling us about their asset injection pipeline and their plans for asset enhancement.
The amazing company that is Store Capital STOR has announced they are going private after being acquired by a private investor for $14B. Investors will get a 20% premium as the deal is expected to close Q1 2023. That means the high yielding dividend REIT will no longer pay investors quarterly dividends after that. So what better stock to replace STORE than Prologis PLD a warehouse giant with over 5,000 locations around the world. Prologis has an impressive history of paying dividends and has beaten the market the past 10 years. Follow me on my YouTube CitizenoftheYear! Disclaimer:This is not financial advice and I am not a licensed financial advisor. Always do your own research before investing and work with a licensed financial advisor. These are my opinions for informational purposes only and not to be taken as investing advice.
Listen to Dutch on this replay of his live monthly Inner Circle zoom call with all Inner Circle members. Dutch gives his perspective on inflation and the U.S. economy and how it will affect the average American as well as the real estate game. Listen to RADD's strategy during the hyperinflation period of 2022 and the shift RADD looks to take in the upcoming years. Learn about leveraging money and hard money loans and hear Dutch answer all of their questions on this call.(01:00) Technology at work (02:00) What will happen with real estate (06:00) Our bread and butter is real estate(13:45) Don't wait to communicate (16:00) September Inner Circle deals(18:00) Q&AThe RADD Podcast: Explore Wealth is an exploration of Wealth, Finance, Business, and Entrepreneurship. Hosted by Dutch Mendenhall, founder of RAD Diversified and visionary behind the American Survivalist Project. The Topics of Discussion include Alternative Investments, Real Estate, Tax Auctions, REIT‘s and more. Episodes posted weekly, enjoy.9 Horrible Mistakes Investors Make Selecting A Property Downloadable PDF RAD Diversified.comThe RADD Podcats YouTube Channel View RAD Diversified Offering Circular
Some really interesting news regarding STORE Capital (STOR), a little about the Starbucks (SBUX) Investor day presentation, covering a few dividend hikes and wrapping it up with listener questions. The Official Dapper Dividends Shop! Check out your REIT's at ALREITS.COM Potential replacements for STORE Capital- Agree Realty (ADC) Essential Property Realty Trust (EPRT) Four Corners Property Trust (FCPT) National Retail Properties (NNN) Realty Income (O) Spirit Realty (SRC) WP Carey (WPC) Federal Realty (FRT) Check out Jeremy's blog at DividendStockpile.com The Economist Guide to Analysing Companies Book affiliate link HERE **SPECIAL SEEKINGALPHA.COM offer - $99 for the annual plan. Use this affiliate link and I'll get a few bucks kicked back my way at no additional cost to you- CLICK HERE! WallStreetSurvivor.com "Is Seeking Alpha Worth It?" Why Does The Stock Market Go Up - By Brian Feroldi - (Probably the easiest investing book for an absolute beginner I've ever read). I highly recommend this book for ALL interested in dividend investing, from beginner to advanced - "The Dividend Millionaire" book (The above links are an affiliation where I will receive a small commission at no additional charge to you.) Check my website out - https://dapperdividends.com/ Contact - firstname.lastname@example.org Follow Russ on Twitter - @Rustyram78 Remember this is not financial advice and it's ultimately your money and your responsibility!
Der echtgeld.tv Sparplan-Marathon 2022! Tobias Kramer und Christian W. Röhl mit insgesamt 210 Minuten Klartext zu den 50 derzeit meistbesparten Aktien im Scalable Broker, appetitlich aufgeteilt auf drei Sendungen. Zum Start die Plätze 31-50 mit vielen Neueinsteigern – darunter ein Krankenhaus-REIT mit über 7% Dividendenrendite, ein US-Konzern an der Schnittstelle zwischen Pharma und Biotech sowie Europas größte, an der Börse derzeit ziemlich bröckelnde Immobilien-Holding. Dazu einige Dauer-Favoriten der Aktien-Sparer wie das DAX-Dickschiff Linde und eine Chip-Aktie, die sich seit ihrem Hoch mehr als halbiert hat, für die letzten fünf Jahre aber immer noch auf knapp 500% Performance kommt.
Could UOB's expansion help it overtake rivals DBS and OCBC? Why did unitholders of Frasers Hospitality Trust reject its privatisation? And What are the potential implications of a railroad strike in the US? Michelle Martin and Ryan Huang look into these headlines. See omnystudio.com/listener for privacy information.
Derek travels to the Las Vegas headquarters of gaming company Winner Winner to speak with co-founder Cody Flaherty. They discuss how Winner Winner is allowing users to play real machine gaming from anywhere in the world via their mobile phones. Plus, Winner Winner has since expanded to online gaming, live trivia events and more. Sam Marks is an active early investor in Winner Winner and has worked extensively with one of their founders. Sam and Derek wrap up the episode discussing Sam's investment, why he believes in it and what he expects from the company going forward. Cody Flaherty is the Co-founder and COO of Playtertainment, the development studio behind the live gaming app Winner Winner. Prior to launching Winner Winner with his partner Jon in 2019, Cody was an early member of the PetFlow.com team, an online retailer of pet food and supplies. Cody was a key member of the senior executive team, helping the business realize an exit to the largest distributor of pet products in the US. Cody sits on the advisory board for Ithaca College's Customer Experience program and also consults for businesses in the ecommerce space. Winner Winner is a robust gaming platform that allows you to earn real rewards for playing games you know and love! Whether its playing physical games or playing digital games you already love to play, you can earn tickets and redeem those tickets for real rewards that are shipped directly to you! Listen to ILAB 246 on iTunes here or subscribe on your favorite podcast app. Where we are: Johnny FD – Ukraine / IG @johnnyfdj Sam Marks – Barcelona / IG @imsammarks Derek Spartz – Los Angeles / IG @DerekRadio Sponsor: ShopifyGet 14 days free and access Shopify's full suite of features to get selling online today! Just go to Shopify.com/ilab to get started. Discussed Winner Winner Like these investments? Try them with these special ILAB links: ArtofFX – Start with just a $10,000 account (reduced from $25,000) Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) *Johnny and Sam use all of the above services personally. Time Stamp: 08:25 – What is your “elevator pitch” for Winner Winner? 09:35 – How did you get into the gaming industry? 11:27 – What kind of investors do you have currently? 12:10 – What is your goal for Winner Winner as a business? 14:00 – How has Winner Winner evolved over the past 3 years? 16:28 – How does technology work? 18:10 – Has anyone figured out how to hack the games? 19:20 – How many users do you have and how often do they use the app? 22:16 – At what level are you at raising capital? 22:52 – Who can invest and what is the minimum request? 23:13 – What is the next plan for the business? 24:38 – Why did you start your business in Vegas? 25:49 – What is your demographic like? If you enjoyed this episode, do us a favor and share it! Also if you haven't already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2022. All rights reserved. Read our disclaimer here.
Christophe is the investment director of LEAP201, a venture philanthropy foundation based in Singapore which focuses on improving the lives of vulnerable households in South East Asia in a sustainable manner. By providing early financial support to impact projects which do not yet meet the requirements of the traditional lenders and investors, LEAP201 fills up a critical missing gap in the South East Asian SMEs ecosystem while impacting hundreds of thousands of lives. From setting up microfinance banks in Madagascar and Mexico, starting a clean water company for rural households or establishing one of the first SME focused Fund Management Company in Cambodia, Christophe has spent the last 15 years focusing on the “access to finance” problematic for impact SMEs in developing markets. Apart from his Impact related and foundation work, he is the Managing Director of Strategic Hospitality REIT, a Thai listed REIT with hotels in ASEAN. Show notes at: https://www.jeremyau.com/blog/cristophe-forsinetti
All three averages finished higher, recouping little of yesterday's massive losses, and Jim Cramer is revealing the under-the-radar bear markets he's spotted in this environment. Next, Etsy has fallen 49% year-to-date, but could this stock craft a comeback? CEO Josh Silverman checks in with Cramer to share more about the COVID tailwinds the company experienced and what makes it unique in the e-commerce space. Then, Cramer's going Off The Charts on oil to see where it might be headed amid OPEC, Russia and demand driven volatility. Plus, Cramer reveals his picks for the ways to play the REIT space.
Clint Mitchell is CEO and co-owner of Estridge Homes, one of the largest home builders and residential real estate developers in the Indianapolis market. Since 1967, Estridge Homes has developed many of the top-selling neighborhoods in the state, totaling nearly 9,000 homes and over 50 neighborhoods. Prior to being named CEO in 2021, Mitchell led the company in areas of sales, marketing, land acquisition and development, product development, and investor relations. Clint was previously SVP of Business Development for Mainstreet Capital, responsible for the market selection and healthcare operator relationships for the company's real estate development business. Previously at Mainstreet, Clint led Acquisitions and Corporate Development for the company's affiliated publicly traded REIT, Healthlease Properties, until its sale to Welltower in 2014. He was involved with Mainstreet since 2010 in the areas of business development, acquisitions, and debt capital raising. Outside of work, Clint enjoys traveling and spending time with his wife and two daughters, who are both off at college. He has competed in multiple Ironman, marathon, and endurance trail races. He enjoys all types of outdoor activities including hiking, snow skiing, and mountain biking. In this fun and insightful episode, Clint talks about growing up in a farming family, how getting his start at Angie's List led him to meet Bill Oesterle, surviving the financial crash of the 2000s, how he got his start in real estate, his commitment to endurance sports, his long journey to becoming CEO of Estridge Homes, networking and creating deep relationships, having intellectual curiosity, the story of how his company responded to Covid in early 2020. Learn more about Estridge Homes Connect with Clint on LinkedIn
Keith started in commercial real estate sales, which provided him with the foundation of knowledge to build a successful real estate investment company. He built Dual City Investments on the foundation of fidelity and integrity, and he is always looking for areas of improvement and a desire to do things differently. He has a diverse background in federal law enforcement, entrepreneurship, and education, and is a published author. In this episode, he talks about the tax strategies used to invest in real estate and the funds you can invest in. [00:01 - 04:01] From Federal Government Employees to Real Estate Investors He and his partner started with real estate syndication and exited with about 25 deals Keith is now focused on industrial assets Scaling on different classes without losing focus Sometimes the assets you didn't think would perform are the ones who bring you cash flow [04:02 - 10:16] Closed-End vs. Open-End Investments: What's the Difference? Keith talks about the advantage of being a liquid investment There are significant differences in the structure, pricing, and sales of closed-end funds and open-end funds. The best time to move to an open fund [10:17 - 15:22] What Is A 721 Exchange And How Does It Work? Not a fan of the 1031 exchange? Try the 721 exchange Keith will strengthen his marketing efforts Let the people know how they started, what they offer, and eventually work with accredited investors who believe in the same vision The one thing Keith believes he'd done well that people can emulate [15:23 - 16:42] Closing Segment Reach out to Keith! Links Below Final Words ----------------------------------------------------------------------------- Connect with Keith for real estate investment opportunities! Visit the Dual City Investments website now. 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 → email@example.com Want to read the full show notes of the episode? Check it out below: [00:00:00] Keith Nelson: If cap rates rise, and we're in a closed-end fund that might hurt our exit in this fund we could continue to buy. So in turn with that 721 Exchange, we can offer units in our funds and absorb a property and then that owner their equity becomes you know, part of that fun, right so you know, then that's tax deferred until they want to exit and then once they exit the regular you know, capital gains taxes will apply to them. But if they request you know, a cash out at any point, that portion of the cash out is going to be, you know, taxed as a as a regular exit on real estate. [00:00:50] Sam Wilson: Keith Nelson has a diverse professional background, he has the experience needed to adjust and overcome obstacles and challenges that he is confronted with in the investment real estate industry. Keith, welcome to the show. 00:01:01] Keith Nelson: Hey, thanks for having me. [00:01:03] Sam Wilson: The pleasure is mine. 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? [00:01:10] Keith Nelson: Okay, well, if you want the full story is gonna take longer, 90 seconds. But I started in a car with my partner. We both worked for the federal government. We were on surveillance. So that's where this whole concept started. How we got here, we've we started with syndication, real estate syndication, we've exited about 25 deals. And we're currently on our second and hopefully final real estate fund. [00:01:38] Sam Wilson: Second and final real estate fund exited 25 deals, what asset class? [00:01:44] Keith Nelson: We started in multifamily. But we have experience in pretty much every asset class right now. So multifamily storage office, hotel, even land development lots. I mean, we've done it all. [00:01:59] Sam Wilson: Right. Is there anything right now that you guys are particularly focusing on? [00:02:06] Keith Nelson: Strong focus on findings on industrial assets. You know, with the latest bills passed about bringing manufacturing back home, I'm from the southeast. So there's a lot of projects, I think they could plant like 5 million square feet of industrial development. So we're focused on that right now. But it's not the same, we wouldn't, you know, take on any deal that had the right opportunity. [00:02:31] Sam Wilson: How have you found an effective way to scale, you know, being so broadly focused? How, how have you done that? And because obviously, you guys have found a way to meaningfully scale into a lot of different asset classes. I guess, if I can find the right question, how have you found a meaningful way to scale into so many different asset classes without experiencing I guess, dilution with your focus? [00:02:55] Keith Nelson: Great question. We, like I said, we started in multifamily, that industry got real tight. And we pivoted over to self storage that industry's gotten real tight, real compressed cap rates. Really, we tested this model out on our first fund, which was a closed-end blind pool fund, and we started with multifamily. Then we went to class A office, we had a boutique hotel, and we had self storage with some landlords. And through COVID, we actually proved that concept because we saw our multifamily, which we thought was a very strong asset, you know, all the moratoriums they put on, people weren't paying rent. So that stopped cash flowing. But our other assets sometimes is the one that we didn't think would perform that great, such as a boutique hotel, where we're carrying the cash flow or fun. So throughout COVID, we didn't miss a distribution. So we had since exited that, but that kind of proved the concept. And we wanted to move that over to a more open-end fund, which we started now. [00:04:00] Sam Wilson: Got it. And so the first fund you guys did was you call it a closed-end blind pool fund. How does that differ, you, said you're in right now you've got to open-end blind pool fund. Is that right? [00:04:12] Keith Nelson: Yeah. So so closed-end means we've raised capital for a certain amount of time. And then we have X amount of time to deploy that capital. But then once it's deployed, you know, that's it, there's no more raising, you know, we have a set horizon on the fund. So we close it out after five years, and, you know, if successful, everyone made their, you know, 20% IRR and you know, they went home, but we feel like if we were able to continue to reinvest and compound those investments, we feel like we could have blown that up. We started we were going to launch our second fund right before COVID. And no one wanted to lock up capital then just no one. You know, everyone thought the world was going to end. As did I, I didn't want to lock up my own capital. So, we went to more of a debt structure, we did that for about a year and a half. And we gave the people option of, hey, look, we don't like, you know what we're investing and you can take your money. So, so that's what we, we structured our this other fund around where we're more structured like a REIT than a private equity fund, but we are d it is private equity. And people have the ability to come in and out. So I tell people all the time, like, you know, look, if we, we start buying stuff that you don't agree with, then you know, request your capital. So, you know, we plan for them. And we went, you know, for that not to happen, of course, but that was the benefits that we like to offer. [00:05:40] Sam Wilson: Got it. Can you quickly break down for us the difference between the closed-end fund and the open-end fund? I mean, obviously, there's the open, and then it closes, but well, I guess strategically what benefits you and what are some, I guess, things to consider on whether you pick one or the other? [00:06:00] Keith Nelson: Yeah, so like I said, the compounding returns, right? So if we sell an asset in the open-ended fund, we could go redeploy that capital, right? So if there's a margin that we've made on that asset, we go redeploy it, you know, put, leverage it, put that on it, and then the returns will hopefully go up for all the investors as well, the unit price of the units now. So instead of one sort of one cash out at the end of the term, you know, we leave it up to the investor where, okay, well, we reevaluate the share price after certain raises that we have, right? So we plan to do it yearly or not that we just launched it this year. So we're not at that point yet. To answer your question, it's the compounding effect of reinvesting capital after we get exited exit a property. [00:06:49] Sam Wilson: This is kind of a newer, you know, I haven't talked to a lot of people about this concept. I've never done a fund myself. So my question is going to kind of be somewhat from an ignorant point of view. But is there so on an annual basis, you guys reevaluate the share price, I guess, of the fund. So, you know, every 12 months, you say, Okay, well, last year, it was worth 10 bucks this year, it's worth 12 bucks a share whatever it is, I'm just making it up. Is there a potential that you could ever have a run on the fund? [00:07:18] Keith Nelson: Run as with the withdrawals? [00:07:20] Sam Wilson: Yeah. [00:07:20] Keith Nelson: But it is a private equity fund, we're not a publicly traded REIT or anything. So you know, we specify that if we have the liquidity available, you can exit the money. But, you know, I tell investors all the time, like, Hey, this is not a, you know, in Oh, crap scenario, where well, World War Three breaks out, everyone wants to take their capital out, it doesn't work like that, because there's not going to be the capital there. Right? It just a benefit. We like to offer investors where, you know, if someone's got money invested, and they want to know, by Lakehouse, or, you know, a Porsche or something, they have the ability to take it out. It's not locked up for X amount of time. [00:07:56] Sam Wilson: Right. But you guys still retain the ultimate yes or no authority on that? You can say, hey, look, you know, you can't withdraw right now, because there's just the liquidity is not there. Is that right? [00:08:08] Keith Nelson: It's actually written in there. If it is there, then we're required to but if it's not there, then yeah, no, we can't, we're not going to, you know, dilute, sell off assets to, you know, cash somebody out, because that could hurt the overall plan on fund. So, if the liquidity is there, we are, you know, required to meet that. [00:08:28] Sam Wilson: Are there any reporting requirements that are different in an open-end fund versus a closed-end fun? [00:08:36] Keith Nelson: No. I mean, the only other, I guess requirement is, we do use a third party service to to evaluate the unit price, or sorry, the asset values, and then it's just simple math to do to calculate the unit price. But other than that, now, there's, like I said, we're still private equity. So we still, you know, it's still a reg D filing, it's not a it's not a REIT, with REIT comes extra reporting and all that so we are still private equity just structured similarly to REIT. [00:09:07] Sam Wilson: At what point in $1 amount, I guess, or maybe there's a wrong question to ask but maybe I can think about it but assets under management at what point in in that process is it makes sense to move to an open-end fund is there like hey, you need to have 100 million needs to be you know, 2 billion, whatever it is like what's the what's the number for you where you figured out that it makes sense to move to this model? [00:09:31] Keith Nelson: No. Like I said, we just launched this year. So we're fairly new. There's no minimum dollar amount tha, there is a minimum, I mean, it does make sense if you're moving this structure to a private or public REIT, which we are set up to do on our docks. But we'd have to be over 100 million AUM to even consider that just because there are so many other extra expenses with running a REIT versus a private equity fund. But now similarly, it's really not that much different than a typical fund or a typical syndication. [00:10:03] Sam Wilson: Yeah, no, that's really cool. Thanks for taking the time to kind of break down some of the nuances of that for our listeners, I know that's gonna be an interesting topic, and something that we don't get to talk about a lot. So appreciate you kind of sharing your thoughts on that. One other thing that we had talked about, that you guys have as an option in this fund is what you something about a 721 exchange, I think you had mentioned to me, before we kick this off, what is that? [00:10:26] Keith Nelson: Sure. So I mean, I guess the backup, which goes along with the 721, you know, another benefit of us having this open-ended fund is we're able to buy and sell through all the market cycles, right. So, you know, cap rates rise, and we're in a closed-ended fund, that might hurt our exit in this fun, we can continue to buy. So in turn with that 721 Exchange, we can offer units in our funds, and absorb a property, and then that owner, their equity becomes, you know, part of that fun, right, so you know, then that's tax deferred until they want to exit. And then once they exit, the regular, you know, capital gains taxes will apply to them. But if they request, you know, to cash out at any point, that portion of the cash out is going to be, you know, taxed as a, as a regular exit on real estate. [00:11:16 ] Sam Wilson: So let me get this right, you've got a seller that wants to sell a property and they can sell that property into your fund, essentially tax free on that initial sale, is that right? [00:11:30] Keith Nelson: They could exchange it right. And yeah, it's not a sale, so we absorb their interest in their LLC, you know, sometimes we'd have to, you know, bring capital to pay off their loan or, you know, cash out a partner or something like that. But then they if they're interested, they become an equity, part of, you know, an LP interest in into our fund. So that coupled with that open-endedness, you know, gives us the ability to just keep churning and compounding the returns. And, you know, it's so far so far, it's working out pretty well. [00:11:59] Sam Wilson: And so from a tax deferral standpoint, that's beneficial to the seller. [00:12:05] Keith Nelson:That is correct. [00:12:05] Sam Wilson: Right. Okay. [00:12:06] Keith Nelson: So those people that are not fans of 1031, perfect, perfect for that, which I'm not a fan of 1031. So I found this, this code a couple of years back and figured out how to work it into, our private equity fund. And, you know, so far it's, it's, we've done a couple 721 exchanges, but like I said, we're just kind of getting our wheels rolling here. [00:12:32] Sam Wilson: Yeah, no, that's really cool. That's something until the day I've never even heard of. So that's really cool. How do you have that conversation with the seller? Is that something you guys go to? I mean, is it every seller, you say, Hey, we have the potential to 721 exchange this? [00:12:48] Keith Nelson: Generally will, we'll want to buy that asset regardless, so we'd probably lock it up under you know, regular cash purchase. And then we may have that conversation. If it fits. Sometimes it doesn't fit, you know, sometimes it fits great. Sometimes there they can increase their cash flow by coming over. Sometimes it doesn't, you know, we'll be honest and open with them and tell them it's probably not worth it. So, depends on the situation depends on what asset it is. [00:13:17] Sam Wilson: Right. That's really interesting. One of the things we talked about off air was you guys are in the middle of a big marketing push. Sounds like you guys have done a lot of deals, you've done a lot in a lot of different asset classes. You got a lot of experience under your belt. What does that mean? A big marketing push. [00:13:34] Keith Nelson: Well, for us, that means starting marketing. We've never, we've never done anything. I think this is like my third podcast, or, you know, in the like, the eight years we've been in existence. So yeah, we're just we're just trying to get the word out. Now. It's, it's, it started off as friends and family I told you, me and my partner, you know, we're on surveillance and came up with this idea of, you know, what builds wealth and why are we sitting in a car, you know, eating pizza and using porta potties as the restroom, but, you know, real estate is obviously a huge wealth builder, and we kind of wanted to bring it to our friends and our family and that's how we started. So we've grown just by word of mouth. But now you know, we're looking outside for you know, more accredited investors that are like our plan and want to get involved. [00:14:20] Sam Wilson: That's really, really cool. When you rewind the last eight or nine years, you guys have been in business. What's one thing you feel like you've done really well that other people should emulate? [00:14:30] Keith Nelson: We take care of our investors. But that's a cop out answer. I think we concentrate on really the assets and protecting our investor capital. And that kind of led us to the whole fund approach. Because when we did, we're doing syndications, you know, we had three or four of them going at one time, and, you know, you might get one that's lagging behind the other three, and that's where all your attention and efforts going to and, you know, we just sat back and reflected once we did it, it was like, man, if we had them together, that would have been a really kick ass, you know, fund. That's kind of where the whole idea came, came from. It's protection of capital, like, my grandmother's money is in our fund, you know, so, last thing I want to do is lose that. So, you know, that's, that's our focus is protection of capital, I think we do that better than most. [00:15:21] Sam Wilson: That's awesome. I absolutely love it. Keith, thank you for taking the time to come on the show today break down for us where you see opportunity. And you know, spending a lot of time telling us about how funds are structured, the division closed in funds, and opening funds and the nuances to opening and launching each of those respectively, the various asset classes you've been involved in where you guys are currently finding opportunity. And then you know, one way to find success, and that was by taking care of your investors. So thank you, again, for taking the time to come on the show today. If our listeners want to get in touch with you or learn more about you what is the best way to do that. [00:15:57] Keith Nelson: Yeah, they can just go to our website and the numbers there are emails there. It's dualcityinvestments.com [00:16:03] Sam Wilson: Dual City Investments, we'll make sure to put that in the show notes. I'm sorry. Was there something else you wanted to add to that? [00:16:08] Keith Nelson: Thanks for having me, Sam. I enjoyed it. [00:16:11] Sam Wilson: Absolutely, Keith. Thank you for coming on to appreciate your time today. [00:16:14] Keith Nelson: All right. Appreciate it, thanks.
Jeff Huston is a business leader who understands the world of growing and protecting wealth. As a visionary, Jeff developed 3D Money with the investor in mind, drawing from his vast experience in the financial world. For 30 years, Jeff has owned and developed businesses, from insurance and financial services to raising money for REIT investments to leasing companies and note offerings. Jeff's story is one of passion, drive and innovation. He began his career in the insurance industry before moving on to financial services where he raised money for REIT investments among other things over 30 years ago - but it wasn't until 2002 that this day turned into something red-letter! That year introduced him not only to alternative investments but also an entire new world with all its opportunities at every turn imaginable. Jeff uncovers how financial success started for him by being aware of the micro-economic terms around him. This is one of the most informative episodes we have ever had! Jeff provides tons of information about investing strategically in alternative assets, along with a process that will help you get started today! In this episode we discuss: Jeff's red letter day and how he transitioned from traditional financial planning to alternatives. How alternative investments bypass wall street. The awareness of micro-economic terms. Jeff's personal wealth strategy & portfolio allocations. Jeff's philosophy on leveraging whole life: infinite banking. Jeff's wealth strategy sentiment. Connect with Jeff Huston: www.3dmoney.com Connect with Pantheon Investments: Join the Pantheon Investor Club: https://pantheoninvest.com/investor-signup/ Website: www.pantheoninvest.com Podcast: www.pantheoninvest.com/podcast Facebook: https://www.facebook.com/PantheonInvest Instagram: www.instagram.com/pantheoninvest LinkedIn: https://www.linkedin.com/company/pantheon-invest Twitter: https://twitter.com/Pantheon_Invest Youtube: https://www.youtube.com/channel/UC8EsPFlwQUpMXgRMvrmbAfQ Holistic Wealth Strategy Book:https://www.amazon.com/Holistic-Wealth-Strategy-Roadmap-Financial/dp/B089CS58F1 Email: firstname.lastname@example.org
Today on the pod, Andrea and Rachel discuss the merits of investing in a Syndication over a REIT. Many people think that apartment syndications are similar to REITs, but they couldn't be more different! Tune in today to find out why Forbes contributors agree that the pros of Syndication vastly outweigh the pros of REITs. FORBES ARTICLE Join our meetup group! https://www.meetup.com/the-passive-investors-network-with-goodgood-investing/ Download our Passive Investor guides at: www.goodgoodinvesting.com –– **Under no circumstances should any material at this site be used or considered as an offer to sell or a solicitation of any offer to buy an interest in any investment. Any such offer or solicitation will be made only by means of the Confidential Private Offering Memorandum relating to the particular investment. Access to information about the investments are limited to investors who either qualify as accredited investors within the meaning of the Securities Act of 1933, as amended, or those investors who generally are sophisticated in financial matters, such that they are capable of evaluating the merits and risks of prospective investments. You should always consult certified professionals before making decisions regarding your individual financial situation. Rachel Grunn and Andrea Cwik are not financial professionals, and GoodGood Investing is not a brokerage, dealer, or SEC-registered investment advisory firm**
Wow. What an episode this turned out to be. Fracking, Hargreaves Lansdown, and Damien Talks Money. Only on this week's PlayingFTSE Podcast! Not much has happened this week. We've got a new Prime Minister, though. With Liz Truss taking charge, friend of the show Damien from Damien Talks Money is here to help us make sense of it all. We're starting off with energy. The new Prime Minister has announced plans to limit the average energy bill to £2,500 per year. Steve W's heard that this is good for inflation – why? After that, it's on to the straightforward question of fracking. Damien wants to know what our regulars think of fracking. Steve D lives on a fracking site, Steve W doesn't, and Paul isn't sure. So who thinks what about getting gas out of the ground? Next, we're on to the real reason that Damien's here. He wants to talk about awful investments that we've made in the past. Steve W once owned shares in a REIT – what went wrong there? Paul owns shares in a Russian miner – why? And Steve D invested in some businesses that went – which? Mostly, though, what's Damien been unwisely putting his money into? We finish with the news. Paul's had a special offer from Hargreaves Lansdown. Steve W hasn't, so he's taking his ball somewhere else. And Steve D has the latest news on Freetrade's seemingly-annual dilution of investors. Only on this week's PlayingFTSE!
Yongming Huang is a real estate investor, marketer, and writer. Before moving to the U.S., he was an award-winning science writer. He worked for one of the most influential news media in China. After moving from Beijing to Houston, TX, in 2017, he soon realized that anyone could build wealth through real estate investing in the United States, even if they have limited capital. Since then, he started his real estate journey and has never looked back. Now he is helping more immigrants like him to learn how to invest in real estate and create generational wealth. He has over 60,000 followers on social media, and his online learning site Yongming University has thousands of students.The RADD Podcast: Explore Wealth is an exploration of Wealth, Finance, Business, and Entrepreneurship. Hosted by Dutch Mendenhall, founder of RAD Diversified and visionary behind the American Survivalist Project. The Topics of Discussion include Alternative Investments, Real Estate, Tax Auctions, REIT‘s and more. Episodes are posted weekly, enjoy.9 Horrible Mistakes Investors Make Selecting A Property Downloadable PDF HereRAD Diversified.comThe RADD Podcats YouTube ChannelView RAD Diversified Offering Circular
The recently enacted Inflation Reduction Act contains $369 billion in energy-related provisions, including new tax credit incentives that were previously unavailable to the REIT industry, says Nareit EVP and General Counsel Cathy Barré.Speaking to the REIT Report, Barré points out that a number of obstacles have historically limited the ability of REITs to utilize tax credit incentives, with REIT tax credits typically going unused.Barré points out that under the new legislation, however, REITs that make an eligible investment in EV charging stations, or geothermal and solar capability, will now have the full tax credit available to sell at the REIT level.During the interview, Barré discusses how the legislation will impact REITs that invest in eligible sustainability-related projects. She also explains the nature of the tax credit incentives, and how REITs can qualify.
Derek travels to Las Vegas to visit the Boxabl Factory, where they are taking advantage of the tiny home/ADU trend happening in housing right now. He sits down with Father & Son founder team Paulo & Galliano Tiramani to discuss Elon Musk buying one of the first casitas, scaling up to multiple factories to fulfill demand, investment opportunities & more. Then Johnny & Derek talk about their experiences with the concept and whether or not they would invest in the company. Each have their concerns but are also optimistic about the industry if they can execute. Boxabls are built in a precision factory environment from cutting edge materials and are packed with the latest technology. This means your building will be stronger, last longer, and be more energy efficient. The Boxabl mission is to significantly lower the cost of homeownership for everyone. Obsessively designed to the highest standards of quality, strength, and sustainability to last for generations. Listen to ILAB 245 on iTunes here or subscribe on your favorite podcast app. Where we are: Johnny FD – Ukraine / IG @johnnyfdj Sam Marks – Barcelona / IG @imsammarks Derek Spartz – Los Angeles / IG @DerekRadio Sponsor: IndeedIndeed knows that when you're doing everything for your company, you can't afford to overspend on hiring. Visit indeed.com/ILAB for more details. Discussed Boxabl Invest | Boxabl Offering Circular Galiano Tiramani (@box_pusher) SpaceX Launch Facility - Can you spot the Boxabl? Full Interview with Boxabl Founders Tour of Boxabl Factory Like these investments? Try them with these special ILAB links: ArtofFX – Start with just a $10,000 account (reduced from $25,000) Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) *Johnny and Sam use all of the above services personally. Time Stamp: 12:42 – How did you start with Boxabl? 13:41 – Why did it take so long to get to the stage of building a house in a factory? 16:03 – Is Elon Musk living in a Boxabl? 19:35 – What do I need to have ready to have one delivered to my home? 21:14 – How are you going to deal with the high demand? 25:32 – What are the opportunities for investment? 30:00 – Patreon: Can you explain some of your Instagram Content? 33:20 – Patreon: How will repairs compare to a regular home? 35:22 – Patreon: How durable are the houses? 37:09 – Patreon: How long does it take to get to your house? If you enjoyed this episode, do us a favor and share it! Also if you haven't already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2022. All rights reserved. Read our disclaimer here.
Today, in Market View Minutes, we look at two very different companies. One is a well-known REIT that manages properties here in Singapore, as well as in Australia and the UK. The other has a cloud-based platform that helps businesses manage their spending. Which of these two stocks is hot? Michelle Martin finds out.See omnystudio.com/listener for privacy information.
This concludes our stock series. Ken "Blanks" Harrell analyze stocks in the sports industry. Enjoy and invest into your favorite sport. Get a pen, paper and download yahoo finance. The episode is Game 4 of 4.Subscribe and review on all your favorite platforms.AppleSpotifyIHeart RadioGot stock market questions? Send your question to Ken on IG@AskBlanksQuestions will be answered on future episodes.Register to our live webinars. Get the early bird special belowSign up hereWe would like to thank our sponsorsColeman Austin Legal Shield 313-218-1527CRC Financials LLC 313-268-7205 ask for Carla WilsonDrone Logistic Services 908-209-2794Black & White Look Otical 248-255- 6444Listen on all major podcasting platforms.SpotifyAppleIHeart
Sanlam's Nick Kunze looks at whether US$ strength and ZAR weakness creates opportunity or risks for JSE shares. Fortress's Steven Brown talks the Reit's results. Izak Odendaal from Old Mutual on the European energy crisis and implications for stock markets.
Medical Properties Trust continues to decline in share price. The company has been hit hard with concerns of one of their largest tenants being insolvent and rising interest rates. I go over why I don't think those are major concerns and why the 8% starting dividend yield is worth the risk. MPW continues to make up one of the largest REIT positions in my portfolio. Follow me on YouTube: CitizenoftheYear! Disclaimer:This is not financial advice and I am not a licensed financial advisor. Always do your own research before investing and work with a licensed financial advisor. These are my opinions for informational purposes only and not to be taken as investing advice.
In this episode we answer emails from Gen, Greg and Nathan. We discuss how to find funds using a fund screener and why you should not be using the investment account equivalents of blackberries and flip-phones any more, individual REIT selections, and value and growth data sources. And THEN we our go through our weekly and monthly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio. Additional Links:Fund Screener: Fund Screener (portfoliovisualizer.com)Rob Berger Video About Vanguard's New Fees: Vanguard Fees Are Going Up -- Here's Why and How to Avoid Them - YouTubeInvestopedia Article - Value vs. Growth in the S&P 500: Value or Growth Stocks: Which Is Better? (investopedia.com)Value vs. Growth Over Time: Canterbury Investment Management - Value versus Growth: A Brief Historical View (canterburygroup.com)DFA Matrix Book: Matrix+Book+2020.pdf (squarespace.com)Walk For McKenna: Walk4McKenna - Father McKenna CenterSupport the show
Welcome to Cannabis Daily - Your daily guide to cannabis news! For more news: https://www.benzinga.com/cannabis/ https://www.benzinga.com/events/ Hoodie Analytics Link: https://www.hoodieanalytics.com/session-360/ Stocks to Watch Today: $TLRY $CGC $IIPR $CURLF Hosted & Produced By: Elliot Lane https://twitter.com/ElliotLane10 Aaron Thomas https://twitter.com/aaron_thoma5 Contact us at: email@example.com Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcasts Tune in weekly to Cannabis Insider at 4 pm ET every Tuesday &Thursday for Cannabis News & Executive Interviews at bzcannabishour.com Hit us up at https://www.benzinga.com/cannabis/ for more news today, tomorrow, and everyday. For Top Gainers & Losers Cannabis stocks of the day check out https://www.benzinga.com/cannabis/stocks
Fan favorite Meb Faber returns to the show after a 6 year absence to tell us about the current state of inflation. Johnny & Sam also talk about how inflation has effected them living in Europe compared to what Meb is seeing in the United States. Mr. Faber is a co-founder and the Chief Investment Officer of Cambria Investment Management. Faber is the manager of Cambria's ETFs and separate accounts. Mr. Faber is the host of The Meb Faber Show podcast and has authored numerous white papers and leather-bound books. He is a frequent speaker and writer on investment strategies and has been featured in Barron's, The New York Times, and The New Yorker. Mr. Faber graduated from the University of Virginia with a double major in Engineering Science and Biology. Listen to ILAB 244 on iTunes here or subscribe on your favorite podcast app. Where we are: Johnny FD – Ukraine / IG @johnnyfdj Sam Marks – Barcelona / IG @imsammarks Derek Spartz – Los Angeles / IG @DerekRadio Sponsor: IndeedIndeed knows that when you're doing everything for your company, you can't afford to overspend on hiring. Visit indeed.com/ILAB for more details. Discussed Meb Faber Cambria Investments Meb Faber (@MebFaber) / Twitter Like these investments? Try them with these special ILAB links: ArtofFX – Start with just a $10,000 account (reduced from $25,000) Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) *Johnny and Sam use all of the above services personally. Time Stamp: 15:30 – What is new with you for the last 2 years? 22:20 – Have you seen similarities with investment being made between the start of covid and the start of this bear market? 27:10 – What are you seeing being affected by inflation, besides the obvious (gas etc)? 31:08 – How does inflation affect your profit and what can you do about it? 46:49 – How are collectibles affected by inflation? 51:18 – Do you ever invest in tips? 53:52 – Anything new you are working on at Cambria Investments? If you enjoyed this episode, do us a favor and share it! Also if you haven't already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2022. All rights reserved. Read our disclaimer here.
Enjoy this wide-ranging conversation between Rob Berger and Paul Merriman on Rob's “Financial Freedom Show” (YouTube video channel) as they discuss these important investor topics: Timestamps 0:00 - Welcome to the Financial Freedom Show! 0:61 - Small Cap Value 20:44 - Other consistent funds 22:59 - Equity portfolio 27:00 - Deciding/4 fund strategy 30:13 - Links below/Quilt chart 45:19 - Stock vs Bond allocation/Market Timing 49:37 - Investing strategies/risk 50:50 - Retirement withdrawal strategy 53:14 - Challenge 55:23 - Glide Path 58:18 - Market Timer's strategy with the current market 1:00:59 - AVUV over VBR 1:08:10 - Measuring value 1:10:46 - Paul's Bond Portfolio 1:12:35 - REIT's 1:13:55 - Tired 1:15:21 - What's next for Paul 1:18:33 - Bogelheads conference 1:19:51 - Links below/Financial Freedom Recorded with a live Zoom audience, they also fielded questions. Some comments on Rob's video page include: “My two favorite financial experts alive today discussing personal finance together. Perfect! Thank you both for your time, talent and wisdom.” “Rob, for the recent interviews you have done, this is my favorite! Paul is so passionate about his beliefs. I have been listening to Paul's podcast over the last 18 months. He has convinced me of the long term power of tilting your equity portfolio towards small cap value. I added the 10% tilt at the beginning of 2022.” “Great down to earth, easily explained info I can put to good use. Best guest to date!” Links to help investors: This link gives the case for the 10 U.S. and international equity asset classes: https://paulmerriman.com/ultimate-buy-and-hold-strategy/ This link shows 9 different ways to combine the 10 equity asset classes and the 52 year returns for each. https://paulmerriman.com/wp-content/uploads/2022/06/Sound-Investing-Portfolios.pdf This link provides data combining each of the 9 equity portfolios along with different percentages of fixed income: https://paulmerriman.com/fine-tuning-your-asset-allocation/ This link shows the impact of using the 9 portfolios and all the combinations of fixed income assuming an initial annual investment of $1,000 with a 3% annual increase on investment: https://paulmerriman.com/2021-fixed-contributions/ This link shows the impact of using the 9 different equity/fixed income as a source of fixed retirement distributions. Each years distribution is adjusted for inflation. Beginning distributions range from 3 to 6 percent: https://paulmerriman.com/2021-fixed-distributions/ This link shows the impact of annual distributions based on a percentage of assets, without inflation adjustment. Distributions range from 3 to 6 percent: https://paulmerriman.com/flexible-distributions-2021/ This link compares the annual to 20 year returns of 4 major U.S. asset classes: https://paulmerriman.com/90-years-of-evidence-shows-investor-patience-leads-to-better-returns/ This links to the Merriman Lifetime Investment Calculator. The calculator can be used for investors in both the accumulation and distribution periods of their investment life: https://paulmerriman.com/lifetime-investment-calculator/
Robert Ritzenthaler is the managing partner and CEO of REM Capital helping fellow business owners and real estate entrepreneurs learn/grow their business, manage risk, minimize their taxes, and achieve their goals. Listen in as he shares the value of finding the right talent for your team and how being surrounded by the right people could help with your business' growth. [00:01 - 01:57] From CPA to Building Best in Class Multifamily Investment/Management Firm Robert moved from Dallas to New York working in commercial real estate He started REM five years later that has since grown into $350+ million in assets under management [01:58 - 07:28] Growing A Successful Business Communicating his experience with his equity partners and putting down deals together has helped with his rapid growth in the industry One-on-one phone calls are vital to raising equity Robert's three pillars of business People on investment Relationship people in the operations Signing off in every single deal Transparency When you focus on building relationships and transparency, you may lose a few deals along the way but there would always be referrals from people who appreciate what you did [07:29 - 19:27] Finding and Retaining Talents Finding opportunities in today's market Think long term Stress test a deal to make sure you can make past any downturn Here are the risks that Rob and his team are trying to mitigate Finding qualified people Retain talent through creative benefits Help shift your employees' mindset by educating them [19:28 - 20:39] Closing Segment Reach out to Robert! Links Below Final Words Tweetable Quotes “It's just transparency, not trying to pretend that you know everything, not trying to put on a show not trying to be sales-y, but just to be totally honest with people.” - Robert Ritzenthaler “Without them, without the people working inside of our company, we don't have a business at all.” - Sam Wilson “You're helping them. They're helping you. We're all in this together.” - Robert Ritzenthaler ----------------------------------------------------------------------------- Connect with Robert for passive commercial real estate investment opportunities! Follow him on LinkedIn, visit the REM Capital website, or email him at firstname.lastname@example.org. 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 → email@example.com Want to read the full show notes of the episode? Check it out below: [00:00:00] Robert Ritzenthaler Well, we have started a program where employees can invest in our deals. So giving them ownership, kind of making it more of a transformational process for them to where it's not just a job. It's not just hey, we got a 401k. But hey, you come work for REM. You can actually invest in the deal where you work. Pretty cool. [00:00:30] Sam Wilson Robert Ritzenthaler grew up in construction, he was a CPA turned to Wall Street, then manage over a billion dollars in assets for a REIT. And currently, he's building a great multifamily real estate business one day at a time. Robert, welcome to the show. [00:00:45] Robert Ritzenthaler Hey, appreciate it, man. Great to be here. Thank you. [00:00:46] Sam Wilson Absolutely. Robert, there are three questions I ask every guest that 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] Robert Ritzenthaler You got it. We'll do it. 60, maybe because I'm from New York. Love it. So I grew up in Dallas, in the construction business, moved to New York, as you said, spent a number of years in commercial real estate working for other guys making a bunch of money, but five years ago decided to start REM with the idea that there was a opening for a little more institutional approach to individual investors getting into the multifamily space. And we have since grown it to about 350 ish million assets under management got 22 properties scattered around the southeast, Midwest and Texas. And well, at least with what we got under contract will be just across the half a billion mark by the end of the year. Well, end of Ambit fourth quarter. So yeah, cruising along. [00:01:39] Sam Wilson That's awesome. I love that. What do you feel like was one of the things that really propelled you forward? I mean, 330 million in assets under management is quite explosive growth in the last five years? What were what what would you say was one or two of the major keys that helped you kind of make such rapid growth? [00:01:58] Robert Ritzenthaler Yeah, that's a great question. I think, one for sure, was being able to communicate the experience that we had to the equity side of the house, because obviously, that's a big hurdle. When you're starting out on your own. How do you convince somebody to, you know, part with a million 100,000, whatever it is, and put it into a deal. So I think that was key. And of course, that 20 years of experience in the business definitely helped out, it would have been a lot more difficult to come out of the gate, saying, hey, you know, I just quit it. Nothing wrong with that, hey, you got to start somewhere. But I think it would have been a lot more difficult. So that was number one. And then I think number two, had a pretty good sense of how to put deals together from again, past experience. So kind of from structuring, to underwriting to stress testing things of that nature, so that we didn't have any blow ups, so to speak. Now, you know, this market has been ridiculously forgiving to all of us, which has been wonderful. But we had a couple of challenges. Our first deal, actually, that year, if we owned it, tornado came through and rip the whole thing up. And we went from 99% occupancy to zero in about 48 hours. So yeah, that's a good, good challenge to navigate that, which we did, and we had the right insurance coverage, we had the right working capital set aside, got that thing back up and running, rebuilt it and released it in the middle of COVID. And today, it's cranking along, you know, generating nice, whatever, nine 10% monthly distribution for our investors. So you know, those things help. It builds a good track record. [00:03:32] Sam Wilson They do. Yeah, you Nobody wants a tornado no matter what. That that's never good. What you said there early on, you said communication to your equity. That was one of the things that really helped you out, especially having the industry kind of experienced to go with that. Yeah, what are some more, I guess defined things. When you think of that, you say, hey, this, this is one thing that I feel like other people maybe aren't doing or that they could do better? [00:03:59] Robert Ritzenthaler Yeah, absolutely. So I think one on one phone calls are absolutely vital to raising equity, or bringing equity, whatever you want to call it. I think that's true, no matter if you are just getting into the business, or you get a billion dollar company, I have said three, three, sort of core things that I will do, regardless of how big we get. And two of them are people people on the investment, that relationship people in the in the operation side of it, that relationship and then signing off on every single deal that we do. So those are the three pillars that I'm not giving up, no matter how big we get. So that's how important it is to me is having that relationship with your with your equity folks. But I think inside of that, s and say, Hey, this is what We've got, this is how we run the show. Obviously, if you don't know what you're doing, that's going to be more challenging. But even if you don't, I think transparency and honesty and just, you know, showing your integrity is super important. Because again, it's that know, like, and trust factor, if somebody can trust you their money, they're going to hand it over, they feel like no, no, we have this guy, then it's gonna be a lot more challenging. So I really focus on that. And I think people appreciate that. And it's a little bit almost anti sales. You know, some of my guys chide me a little bit about that. They're like, Robert, you need to just close the deal. And I'm just so focused on wanting to understand each person's goals, objectives, where they're at in life, what they want, and making sure that it's a good fit for them. And I think people appreciate that. And you lose a few. But that's okay. Because there's 10 more referrals from the, from the folks that really appreciate it. So I think that's been some practical things that I would recommend folks do, man. [00:05:56] Sam Wilson And you're further down this down this path than I am. But I would say that, just just just to agree with you. One is the one on one phone calls are critical. I was I was listening to somebody talk the other day, and they said, they said, hey, you know, I didn't get much response from this deal with that, that they had put out. And I said, Well, how many people have you called, like, you can email all you want, you can send text blasts all you want, but if you picked up the phone, like it's 1980. Yep. And hit dial. And they're like, Well, no, I didn't do any of that. I'm like, You should do that to everybody on your list, and then see what response you get. Because I know I dramatically respond different to a passive investment solicitation. If somebody calls me directly, and it's like, hey, hey, Sam, I want to know if you're interested, well, yeah, maybe you send me an email, man. And there's nine out of 10 chances. I've hit delete, like, I gotta I gotta keep moving. There's 300 emails in there. I think the other thing that that, that you said that I really liked, there was just kind of letting go, right? I think the more I've raised more capital, the less connected or less attached I get to, are you going to invest in this? Or would you like to invest in this like, Hey, this is good for you get in? If it's not, don't I don't care? Right. And I will tell you, the more I've said that the more money has come in, right. I don't care if it's good for you get in and great. And if it's not okay, no problem. I enjoyed our conversation. And that loosening up the his it's been, you know, that's really great. So thank you for taking the time to, to share with that share with us, you know, kind of your approach on that front. That's really, really cool. You say the market has been ridiculously forgiving. Tell me how are you guys finding opportunities now? And where do you see us going? Since maybe we're exiting this ridiculously forgiving phase? [00:07:40] Robert Ritzenthaler Maybe temporarily? I don't know. I don't see the Fed changing their policy that much. But no, it's great point, I think, you know, in the past, it was kind of throw a dartboard and you made money in multifamily. Right. And I'll be honest with you, I think it's going to come back to that in a fairly short order. Could be wrong, but I think you know, give it a year or two, and we're probably going to be back to that era, just because of the supply and demand curve that you can't really change overnight. That's a 1020 year problem. But interim, currently, we feel like there's a six to 12 month window of opportunity for folks that are operators, meaning you know how to control that process. In our case, we've got, you know, 8085, I don't know, we might be at 90 people on the operation side of the business. So being able to have control of the business execution, being able to know what you're doing plug in and knock things out is super important. But also focusing on cash flow, versus just buying an asset and hoping that the value goes up is also really important right now, we've always been that way. So for me, I look at the business fundamentals. And I say, Hey, am I making more money next month than I am this month? Yes, absolutely. People say yeah, but your interest cost goes up. That's true. But my rents going up faster than the interest cost. So and my interest cost is much smaller percentage, my rents, you know, that's the whole top line. So I think there's an equation in there that tells us that the business itself is continuing to do better. Yes, we understand that valuations are taking a bit of a pause, but again, a year or two from now. I'll bet your money, they're coming back. I am betting money that they're coming back. [00:09:21] Sam Wilson Oh, I think that's that's really, really, really, really beneficial. Do you see a lot of fear in the market? Right now? I think we see it across a variety of, you know, any investor, you know, it's, it's pumped out in the news. Of course, the news is built on fear. So I'm not sure that that's, that comes as a surprise. What are you telling investors right now, and I know you just kind of hit on that a little bit saying that we're in the six to 12 month window, how are you making sense or logic of where the market is right now? [00:09:50] Robert Ritzenthaler So I think the most important thing, which again has always been true, is stress testing the deal to make sure that you can make it past any downturn. So like instituted, they haven't done this in years, I stressed that at our trust us and one of our deals up to eight and a half percent interest, five years from now, at a 60% leverage. So I mean, this is like valuations drop, interest rates stay high for five years, what does that look like? Hey, you know what we can refi the debt we have today, and we're good, we didn't have to put a penny into it. So that's the kind of thing that I haven't done in a while. But to me, that gives you confidence to say, okay, you know, what, we're getting this deal for 234 $5 million, less than we would have paid five months ago, we're gonna get that $5 million back at some point. So if my business model works, and his stress tests, we need to keep moving forward. Because on the flip side, you put that money in cash, it's going down in value eight to 9%, every year, some would argue a lot more, but let's just use the headline number. So I feel like it's kind of a no brainer in that sense. But again, the opportunity has been more for the operators that are looking at it long term versus the guys that are kind of the fix and flip. I think that's where the markets gotten a little quieter, which is great. Because that's our competition. So hey, you guys just take a little break for a couple years here, or six months, whatever it is, you know, let us let us step in for a little while. And that's kind of what we're seeing on the deals that we're getting right now. [00:11:19] Sam Wilson Yeah, I mean, that does it certainly, it certainly creates a great opportunity for you guys. You know, on the acquisition side of things, I like the idea of just thinking long term like, Hey, we're gonna build this portfolio. Yeah, it this is a long a long term play, what are some risks that you guys are actively trying to mitigate right now? [00:11:40] Robert Ritzenthaler Well, the biggest risk, I don't know if I would say we're mitigating and we're definitely working on it as people, the biggest challenge is people because it is so hard to find good help. And that's one of the reasons that I don't think the economy is going to go to some long lasting recession, because right now, everybody who wants a job has a job, and we can't find people to help. And until that really gets pulled back, which to me, I mean, we haven't seen any effect with all these interest rate increases. You know, we've seen the stock market drop, we've seen real estate prices moderate, you know, new home sales come in a bit. Nothing has happened to the wage growth. Interestingly enough, the Fed mentioned that last week, when they raise the rates, they specifically said, Hey, we've seen the supply side start to come in. But this whole wage thing is still going. And we're a little concerned about it. Now, the interesting part about that is that if you look back, I don't know, three to six months ago, Chairman Powell specifically said, we're going to let wage growth run because it's so far behind, which it is, if you look at everything else, wage growth is way far behind. So in my mind, I'm hearing him say one thing to keep the markets happy. But in reality, they're like, Hey, this is just fine. We're good. Let those wages run. Now from a multifamily perspective, I'm thinking, two thumbs up, because as those wages go up, they can afford the rents. We keep chugging along. Everybody's happy. So but I guess getting back to your question about the the challenge, it's really finding qualified people. And we're trying to mitigate that through specifically finding recruiters, Headhunters, people that we can rely on to specifically target other folks that are that are currently employed, convince them to come work for us, because that's our limiting factor right now. And and I'll admit, it's tough. I mean, it is a, it is a war for talent. I was just on a podcast last week with some, some other guys talking about it. And you know, if you can get the people there to renovate the units, you will lease them and you will lease them at a higher number. Question is, can you turn that product to the faster you can turn it the faster you're making money? [00:13:48] Sam Wilson Right. And I guess that's the question is, is what type of talent when you say that, what is the missing talent piece to? [00:13:56] Robert Ritzenthaler Well, the biggest the biggest chunk is maintenance and renovation. For us. That's the biggest piece because you got to go in there with our model is we're doing value add, so we're going in, we're finding properties that need better management, they've got some deferred maintenance, and they need renovations. So we're picking up work orders that haven't been, you know, handled in 3, 5, ten years, and we got to fix them all within a short order, you know, it's a 24 month business plan, right? So we got to have maintenance people, then we got renovations got to get in there, turn, you know, 80 to 80% of those units within the first 24 months as examples. So you get a lot of stuff happening. And you got to have a lot of good people to get it done. So that's kind of the biggest challenge that we're facing right now. Just what are some? [00:14:38] Sam Wilson What are some creative things you guys are doing in order to attract that talent? [00:14:43] Robert Ritzenthaler Well, we have started a program where employees can invest in our deals. So giving them ownership, kind of making it more of a transformational process for them to where it's not just a job. It's not just hey, we got a 401k But hey, you come work for REM. You can actually invest in deal where you work, pretty cool. Now many maintenance people that can say, hey, I own a piece of this property. Right? So that's one of the things that we're doing. And I think, you know, it takes a little bit of time for people to really understand even how to communicate that to the prospective employee. It's one thing to have me sit there and explain it, but I'm not gonna sit there on any every single interview, you know. So get even getting my people to understand that and communicate that takes time, it takes a little bit of education on my part. But I do think that's something that will set us apart and create some value that isn't that common in our space. [00:15:35] Sam Wilson It's not common, and I guess that would be the hurdle I would see is the is what you just mentioned there is being able to effectively communicate to that maintenance and renovation staff. This is this is what's being offered you, I'll give you a quick Case in point, I used to own a service business. And I said, Okay, to the employers, I said, Look, I can put you on a pro rata sharing program. Whereas if you get XYZ done, you could make maybe, say 90 grand a year, or you can stay hourly, like you are, and you'll probably bring in between 45 and 60. Right? Yes. How many of those employees and I was like, this is not just fictional numbers, like I can tell you based on our revenue, if we could just switch these things around, this could be your additional revenue income, zero, none of them took it. They said, Well, man, the problem is, is that you know, I'm gonna get paid monthly on that, and weekly on that, and I just can't fit. And I could never figure out a way to commune I'm like, Wait, so you're gonna pass up a 50% Bump and pay just simply because you don't understand it? Yeah, the problem is mine, I never did find a way to communicate effectively. So I'm just curious how you guys structure that in such a way that then becomes appealing to the people that you're, you know, offering that to? [00:16:49] Robert Ritzenthaler Yep. And we've had the same exact challenge. And that's where I've realized, Hey, this is going to take a concerted effort starting at the top of me to educate everybody across the board. And in some ways, it kind of hit me that, hey, wait a minute, I'm educating our investors, I'm educating, you know, the folks around us, the stakeholders that are part of the business, I'm not really educating our employees. And, hey, why not? I mean, they're just as capable as anybody else of being part of this process. So that's what kind of clicked in my head. Right now we have an annual leadership conference, that's part of what we do is educate, we're thinking about going to a twice a year, you know, a biannual Leadership Conference. And that's one of the things that we're teaching is, how do you invest? How do you grow beyond just being a maintenance guy? You know, there's a lot to it. And there's fear, because people think, Well, wait a minute, that's not guaranteed. But about that, you know, and so it's, there's a whole educational component, you know, good friend, my Rod, that's all he does is just train people on how to do that. And it's super important, because it's a complete different mind shift. And I come from an entrepreneurial family, right. So for me, it's like waking up in the morning and big deal. [00:18:00] Sam Wilson This is, all we know, is put Yeah, label like What do you mean, I don't get paid? Regulates. That's why I've never known regular pay, like exactly, no. But for the rest of the world doesn't think like that. I think you hit on a really key, something really, really unique there is that we do spend all this time educating our investor base, putting stuff out on social media doing, you know doing podcast, stuff like this, but but I think a lot of us don't spend any time on our own in house people going, Hey, wait, you too can learn how to invest in real estate like that? Absolutely. That's brilliant. So I think that's, that's a really cool take on how it is that you guys are finding talent and then bringing them in, but also making them part of the deals and building generational wealth for them, too, I think. Yes, exactly. Because without them without the people working inside of our company, we don't have a business at all. [00:18:46] Robert Ritzenthaler Right, right. Well, I think to a lot of people look at it as they say, Well, what if I promote this person too far, they're gonna leave and then you know, they work for a few years, they're gone. Okay? The fact is not everybody wants to go from 40 to 80, to 120 to 240. That's not what they're here for. They're happy doing their job. The question is, how can you provide a long term sustainable retirement growth, whatever. And I think that's a great way to do it. It really gives that sort of two way, you know, loyalty, if you will, because you're helping them. They're helping you. We're all in this together now. Right. So anyway, that's, that's the thought process. [00:19:28] Sam Wilson That's really cool. Robert, I've certainly enjoyed having you on the show today. Thank you for breaking down what it is, you guys see in the marketplace, how you're mitigating risk, how you guys are finding talent, what you guys are raising capital and your communications to your equity partners, and just kind of your thought process behind that. And the of course, the one-on-one phone call. I love that. That's one of the things that we were talking about that but I think that's cool that you guys are really making that a priority. So thank you for taking the time to come on the show today. Certainly appreciate it. If our listeners want to get in touch with you or learn more about you. What is The best way to do that? [00:20:01] Robert Ritzenthaler The easiest way is either our website or remcapital.com. Or email me, firstname.lastname@example.org. Happy to chat. Awesome. [00:20:01] Sam Wilson Thank you, Robert. Have a great rest of your day.
In this week's episode, we talk with Yuen Yung, Chief Executive Officer of Upside Avenue. Upside Avenue offers investors diversification with Multi-Housing Income REIT. Non-traded REIT stocks are offered to investors looking to invest in America's favorite asset class as an alternative, historically stable path to grow their wealth. They are helping the American public gain access to multi-housing and commercial properties through relatively low minimums. If you're interested in real estate, you will love this episode. Listen in on this episode to hear about:How to be an investor alongside Yuen.Yuen's background and how he got to where he is today.The day-to-day structure between the Casoro Group, Upside Avenue, and Yuen's responsibilities.The challenges and triumphs of real estate in today's economy.The growth and income strategy behind real estate investing.All of that and more in this episode!
REIT stands for Real Estate Investment Trust, and National Dental Healthcare REIT's Jared Elfvin and Dallas Margeson are sharing a goldmine of information with Lisa Moler about how dental real estate can build strong futures for dentists. Partnering with National Dental Healthcare REIT helps to minimize risk, maximize liquidity for your property, and own shares in a larger investment vehicle. Learn all about leveling up your investment portfolio with your medical or dental real estate assets in this educational episode of DocTalk Dental.
Macerich (MAC) stock is a REIT that invests in shopping centers. Macerich (MAC) portfolio is concentrated in California, Pacific Northwest, Arizona, and metro New York to Washington, D.C. corridor. Macerich owns 48 million square feet of real estate in 44 regional town centers. CEO Tom O'Hern weighs in on current trends in consumer shopping and how an economic slowdown would impact real estate.
Dustin Warren is the Director of Farm Land acquisitions here at RAD Diversified. Dustin has become a big part of our operation and our pivot into income-producing Farmland investments. Since RADD began its Farmland operation, Dustin has become one of the biggest leaders on the front line. Dustin not only helps us close deals on farmlands, but he also leads our team in their navigation of farming and managing the crops year after year. Dustin is a man of faith and family. He has a wife and 6 children that he provides for. This role wasn't his initial position when he started at RADD. Originally hired to spearhead ASP, Dustin found a better role taking on farmland acquisitions. Now Dustin is leading RADD into its next chapter with farmland investments. (00:50) Dustin brings the meat(01:45) Advantages of the Pivot(03:50) Looking at the long term(05:45) Good and Bad Yields(09:30) Benefits of no-till farming(11:10) High Reward for Bamboo (23:15) Our plans for organic farming(25:00) American land in American hands(26:30) Making an Impact for a Better Future(33:10) Take the first stepThe RADD Podcast: Explore Wealth is an exploration of Wealth, Finance, Business, and Entrepreneurship. Hosted by Dutch Mendenhall, founder of RAD Diversified and visionary behind the American Survivalist Project. The Topics of Discussion include Alternative Investments, Real Estate, Tax Auctions, REIT‘s and more. Episodes are posted weekly, enjoy.9 Horrible Mistakes Investors Make Selecting A Property - Downloadable PDFRAD Diversified.comThe RADD Podcats YouTube Channel View RAD Diversified Offering Circular
In this episode we discuss some news, a bit on why I like Uranium companies, and then why I sold Omega Healthcare Investors (OHI). Me First And The Gimmie Gimmies Song "Country Roads" ETF.com article on URANIUM The Jerky Boys - The Flower Lady SAGA The Economist Guide to Analysing Companies Book affiliate link HERE **SPECIAL SEEKINGALPHA.COM offer - $99 for the annual plan. Use this affiliate link and I'll get a few bucks kicked back my way at no additional cost to you- CLICK HERE! WallStreetSurvivor.com "Is Seeking Alpha Worth It?" Why Does The Stock Market Go Up - By Brian Feroldi - (Probably the easiest investing book for an absolute beginner I've ever read). I highly recommend this book for ALL interested in dividend investing, from beginner to advanced - "The Dividend Millionaire" book (The above links are an affiliation where I will receive a small commission at no additional charge to you.) Check my website out - https://dapperdividends.com/ Contact - email@example.com Follow Russ on Twitter - @Rustyram78 That site where I'm buying fractional real estate at - lofty.ai Remember this is not financial advice and it's ultimately your money and your responsibility!
An ILAB Callback episode to our original interview with Meb Faber from ILAB 15. Johnny and Derek create an all-new intro and outro to Sam's interview to give an updated version of a timeless interview that is very much still relevant to today. We wanted to re-air this interview in preparation for Meb's return on next week's episode where he will talk about inflation. Mr. Faber is a co-founder and the Chief Investment Officer of Cambria Investment Management. Faber is the manager of Cambria's ETFs and separate accounts. Mr. Faber is the host of The Meb Faber Show podcast and has authored numerous white papers and leather-bound books. He is a frequent speaker and writer on investment strategies and has been featured in Barron's, The New York Times, and The New Yorker. Mr. Faber graduated from the University of Virginia with a double major in Engineering Science and Biology. Listen to ILAB 243 on iTunes here or subscribe on your favorite podcast app. Where we are: Johnny FD – Ukraine / IG @johnnyfdj Sam Marks – Barcelona / IG @imsammarks Derek Spartz – Los Angeles / IG @DerekRadio Sponsor: Indeed Receive a $75 credit for a sponsored job post when you visit Indeed.com/ILAB Discussed Meb Faber Cambria Investments Meb Faber (@MebFaber) / Twitter Like these investments? Try them with these special ILAB links: ArtofFX – Start with just a $10,000 account (reduced from $25,000) Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) *Johnny and Sam use all of the above services personally. Time Stamp: 09:20 – How did you get into finance? 14:00 – What is Traditional investment advice vs. modern? 22:50 – Is there any guarantee to profit after 20 years with the US market? 25:41 – What does risk parity mean? 33:18 – Can you summarize the review of the ALL Seasons Portfolio 40:38 – Do you have a model for an upcoming decade? 43:48 – How do you compare Small Cap and Large Cap growth prospective? 47:16 – What are your thoughts on Robo-Advisors? 50:28 – Is it a good route to do diversified allocation to keep your investment liquid? 53:39 – Where do you want to be invested if there is a WWIII? If you enjoyed this episode, do us a favor and share it! Also if you haven't already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here. Copyright 2022. All rights reserved. Read our disclaimer here.
REITS are a way to invest in real estate by teaming up and investing with someone with a track records of success (or failure, lol). Buying a REIT is investing a company that invests in real estate. You get a divided from the company you invested in similar to collecting rent with physical real estate. Check out the full episode for more This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Home Buyer Education Email: firstname.lastname@example.org First Time Home Buyer School- https://www.facebook.com/groups/fthbschool Home Buying & Credit Courses-https://coinsnculture.gumroad.com/l/rHHKs Podcast/Youtube- https://www.houserichshow.com IG- https://www.instagram.com/coinsnculture/ @coinsnculture coins-n-culture
"The REIT stocks were affected by a macro environment with the shape of the yield curve and high inflation. However, now REITs are starting to get a bid. Investors are bullish on apartments and bearish on offices. Leasing spreads varied, but for the most part, were slightly negative to slightly positive. Numbers were less bad than the market valuation would have suggested. I see a growing case for a tactical move higher for REITs, given the low bar," says Vikram Malhotra.
NASAA recently released proposed revisions to REIT regulations, beginning a 30-day public comment period that was originally to end on August 11. But industry veterans argued that some of the proposed revisions aren't all they're cracked up to be, and so NASAA recently extended the REIT commend period to September 12. Anya Coverman, senior vice president of government affairs and general counsel at the Institute for Portfolio Alternatives (IPA), joins the show to discuss the the NASAA's proposed revisions, and why the IPA strongly opposes them. Show notes: https://altsdb.com/2022/08/anya-coverman-047/
He's got the most number of followers on Seeking Alpha and knows a thing or two about dividends.Check The Lead-Lag Report on your favorite social networks.Twitter: https://twitter.com/leadlagreportYouTube: https://www.youtube.com/c/theleadlagreportFacebook: https://www.facebook.com/leadlagreportInstagram: https://instagram.com/leadlagreportSign up for The Lead-Lag Report at www.leadlagreport.com and use promo code PODCAST30 for 2 weeks free and 30% off.Nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.The content in this program is for informational purposes only. You should not construe any information or other material as investment, financial, tax, or other advice. The views expressed by the participants are solely their own. A participant may have taken or recommended any investment position discussed, but may close such position or alter its recommendation at any time without notice. Nothing contained in this program constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in any jurisdiction. Please consult your own investment or financial advisor for advice related to all investment decisions.See disclosures for The Lead-Lag Report here: The Lead-Lag Report (leadlagreport.com) The Personal Finance PodcastSubscribe now and Master Your Money in Less than 30 Minutes Per Week! Listen on: Apple Podcasts Spotify
Calling all sport fans! This stock series Ken "Blanks" Harrell analyze stocks in the sports industry. Enjoy and invest into your favorite sport. Get a pen, paper and download yahoo finance. The episode is Game 2 of 4.Subscribe and review on all your favorite platforms.AppleSpotifyIHeart RadioGot stock market questions? Send your question to Ken on IG@AskBlanksQuestions will be answered on future episodes.Register to our live webinars. Get the early bird special belowSign up hereWe would like to thank our sponsorsColeman Austin Legal Shield 313-218-1527CRC Financials LLC 313-268-7205 ask for Carla WilsonDrone Logistic Services 908-209-2794Black & White Look Otical 248-255- 6444Listen on all major podcasting platforms.SpotifyAppleIHeart
Sam interviews author and psychotherapist Jonathan Rios on his book Primal Virtues of the Modern Man. They talk about issues with today's men and what they can do to get back to their ‘primal' nature and balance their lives better. Sam and Derek catch up on the show and talk about how this applies to their lives currently and what they are doing themselves to get back to their own primal virtues. Jonathan Rios is an athlete turned mental coach and licensed psychotherapist who is deeply committed to remaining undomesticated. He works extensively with addicts, performers, veterans, stay at home mothers, business professionals, and spiritual seekers. He is a military academy graduate and former division 1 athlete with a deep appreciation for the warrior ethos. He currently lives in Jupiter Florida with his wife and four daughters. Listen to ILAB 242 on iTunes here or subscribe on your favorite podcast app. Where we are: Johnny FD – Ukraine / IG @johnnyfdj Sam Marks – Barcelona / IG @imsammarks Derek Spartz – Los Angeles / IG @DerekRadio Sponsor: ShopifyGet 14 days free and access Shopify's full suite of features to get selling online today! Just go to Shopify.com/ilab to get started Discussed Jonathan Rios: Primal Virtues of a Modern Man Instagram: Primal Virtues/ Like these investments? Try them with these special ILAB links: ArtofFX – Start with just a $10,000 account (reduced from $25,000) Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) *Johnny and Sam use all of the above services personally. Time Stamp: 11:30 – Tell us about your recent retreat in Wyoming? 13:38 – How did you get into psychotherapy ? 16:30 – Describe your approach and how you arrived at this unique style? 22:19 – Can you expand on the word, “Decadence”, you used in the book? 28:04 – What was the motivation for writing this book and the “3 needs of men”? 41:40 – Let's talk about what “Love” means? 45:44 – What are some other projects you are working on? If you enjoyed this episode, do us a favor and share it! Also if you haven't already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2022. All rights reserved. Read our disclaimer here.