Today, in the final episode of our year-end Best of 2023 series, we’ll feature the best of the co-founder of Ashcroft Capital — also the founder of Best Ever CRE and the creator of the Best Real Estate Investing Advice Ever Show — the one and only, Joe Fairless. From the Best Ever Conference, to the Best Ever book club, to the Cincinnati meetup, to the podcast itself, Joe has shared a tremendous amount of knowledge and experience with the Best Ever community in 2023. 

In this episode, Joe relives his worst-ever deal, looks back on his biggest mistakes, and shares some key takeaways from the books he’s read in 2023.

You can listen to the full episodes of each show below.​​ 

Also, click here to join the Best Ever Book Club, and if you want to secure 15% off your Best Ever Conference ticket, click here and use the promo code BEC2024.

• BEC Exclusive: Fireside Chat ft. Joe Fairless, Part I

• BEC Exclusive: Fireside Chat ft. Joe Fairless, Part II

• Joe Fairless and Ash Patel Share Their 4 Biggest Mistakes as Investors

•  Best Ever Book Club — The Wealthy Gardner by John Soforic

• Best Ever Book Club — The Catalyst by Jonah Berger

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Today, in the fourth installment of our year-end Best of 2023 series, we’ll focus on something that will make our host Ash Patel very happy.

Industrial real estate.

Industrial has risen up the ranks in desirability when it comes to commercial assets in 2023, with flex industrial emerging as a new darling asset class. So we’ve pulled the best clips from some of the best episodes from 2023 that featured the best industrial (and flex) investing advice ever. In this episode, Faraz Hemani explains why he is expanding from self-storage into flex industrial, Joel Friedland touts Chicago as America’s biggest industrial hub, and Neil Wahlgren discusses the benefits and nuances of NNN leases and how investors can pivot from multifamily to industrial. 

You can listen to the full episodes below.​​

• JF3250: Faraz Hemani — 3-Step Formula for Succeeding in Self-Storage, Why Flex Industrial Is the Best-Kept Secret in Real Estate, and How to Compete in a Crowded Self-Storage Industry

• JF3107: 3 Rules of Industrial Real Estate ft. Joel Friedland

• JF3075: Investing in Triple-Net Leased Industrial CRE ft. Neil Wahlgren

Today, in the third installment of our year-end Best of 2023 series, we’ll focus on one of the hottest asset classes in recent memory.

Mobile home parks.

In this episode, Derek Vickers takes us through his first mobile home park investment, sharing the lessons he learned in the process of turning a nasty, crime-ridden park into a prime cash-flowing asset. Meanwhile, Tyler Lekas highlights the biggest mistakes mobile home park investors make, Mario Dattilo explains vertical integration and why there’s safety in scale, and Daniel Weisfield debunks mobile home park myths and shares how investors can get in on the mobile home park development game.

You can listen to the full episodes below.​​

• JF3315: Derek Vickers - From Insurance Sales to Mobile Home Parks: How This Investor Built a $100 Million Portfolio in Two Years

• JF3327: Tyler Lekas - 5 Mobile Home Park Investing Mistakes to Avoid

• JF3067: Mobile Home Parks & Building Peripheral Businesses ft. Mario Dattilo

• JF3091: Debunking Mobile Home Park Investing Myths ft. Daniel Weisfield

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Today, we’re continuing our countdown to the new year by looking back at some of the best episodes from the Best Ever Show in 2023. We’ve pulled the best clips from some of this year’s best episodes that featured the best self-storage investing advice ever. In this episode, we’ll hear from Connor Gross, Faraz Hemani, Travis Baucom, AJ Osborne, and the Sultan of Storage himself, Baird Kleinsmith. You can find links to each of their episodes in the show notes.

Connor discussed why he chose self-storage over other asset classes, including how he 3X’d the NOI on his very first deal. Meanwhile, Faraz provides tips on how to find — and talk to — the right sellers in a competitive market, Travis takes us through his due diligence process, and AJ explains his firm’s buying strategy in 2023, including how he accounts for the threat of new construction disrupting the supply and demand balance in a particular market. Baird wraps it up by explaining why he targets “crappy” self-storage facilities, his secrets to quickly scaling to eight facilities, and the hardest lessons he’s learned along the way.

You can listen to the full episodes below.​​

• JF3042: Succeeding in Self-Storage as First-Time Operators ft. Connor Gross

• JF3250: Faraz Hemani — 3-Step Formula for Succeeding in Self-Storage, Why Flex Industrial Is the Best-Kept Secret in Real Estate, and How to Compete in a Crowded Self-Storage Industry

• JF3130: 1,800 Self-Storage Units in 18 Months ft. Travis Baucom

• JF3230: How to Build a Self-Storage Empire ft. AJ Osborne

• JF3106: Becoming the Sultan of Storage ft. Baird Kleinsmith

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Today, we’re going to start counting down to the new year by looking back at some of the best episodes from the Best Ever Show in 2023. So what we’ve done — and what we’ll do over the next five days heading into 2024 — is pull some of our favorite Best Ever segments from shows throughout the year so you can get educated and inspired as we move into the new year.

In this episode, we’ll focus on multifamily, pulling clips from episodes with Vikram Raya, Patrick Grimes, Jay Balekar, and the king of creative finance, Pace Morby.

Vikram discusses how he went from Zero to $700M AUM in about eight years, including acquiring his first property, a 118-unit deal on a C-class property outside of Atlanta that he and his partners only got the inside track on because the lead buyer backed out after there was a murder on the property. Meanwhile, Patrick explains some of the biggest lessons he learned from the recent economic downturn, Jay provides his tips on working with third-party property management companies, and Pace explains the Zero down, 4% seller finance deal he did that became the standard for his multifamily deals.

You can listen to the full episodes below.​​

• JF3254: Vikram Raya — Making the Jump From Medicine to Real Estate, 6 of the Worst Mistakes Syndicators Make, and Understanding the Power of Marketing and Branding

• JF3225: Building a $650 Million Multifamily Portfolio After Losing It All in 2008 ft. Patrick Grimes

• JF3343: Jay Balekar — Strategies for Growing 400+ Units in Two Years

• JF3118: 1,500 Doors in One Year with Creative Financing ft. Pace Morby

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Wil Glafenhein, Owner of Honors Real Estate Services, dives into his strategies for success in building an $85 million portfolio. He shares tips for bringing in direct to seller leads and stresses the need for consistency and patience in today’s market where most deals just aren’t penciling.

Key Takeaways:

• Lead Generation Strategies: Wil discusses various lead generation strategies, including targeting properties based on ownership type (individual vs. LLC) and understanding the importance of allocating sufficient resources to marketing campaigns. He emphasizes the need for patience and consistency in generating leads, especially in competitive markets.
• Mindset and Purpose: Beyond profit, Wil emphasizes the importance of mindset and purpose in the commercial real estate business. He recommends maintaining clarity on your goals and values while fostering a positive mindset.
• Effective Communication and Planning: Wil stresses the significance of clear communication and strategic planning when partnering with others. Having contingency plans and outlining expectations upfront can prevent potential conflicts and ensure smooth operations over the long term.

Wil Glafenhein | Real Estate Background

• Owner of Honors Real Estate Services
• Portfolio:
  • $85 million AUM: apartments, office, assisted living 
• Based in: Knoxville, TN
• Say hi to him at: 
  • HonorsProperties.com
• Best Ever Book: The Screwtape Letters by C.S. Lewis
• Greatest Lesson: Disciplined effort with a clear vision is what is needed to grow with consistency.

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Jason Yarusi, Owner of Yarusi Holdings, shares the investing wisdom he’s earned from building a portfolio of over 2,300 multifamily units. He discusses the value in developing a long-term strategy and sticking to it despite economic conditions, investing in tertiary markets outside the ebbs and flows of major metros, and why the Fed’s recent announcement about potential interest rate cuts was so surprising.

Key Takeaways:

• Adapting to Market Uncertainty: Jason emphasizes the importance of having a flexible business plan that can adapt to market fluctuations. He discusses how Yarusi Holdings strategically navigates through changing economic conditions and maintains a focus on long-term investment goals.
• Investor Education and Strategy Alignment: Jason suggests educating investors about the market and helping them understand how specific opportunities fit into their portfolios. Having a clear strategy and a diversified approach can mitigate risks in uncertain times.
• The Impact of Interest Rates and Market Sentiment: The conversation touches on the surprising announcement of potential interest rate cuts by the Fed. Jason and Ash discuss the significance of market sentiment and its influence on investor decisions. Understanding the broader economic context is crucial for making informed investment choices.

Jason Yarusi | Real Estate Background

• Owner and Managing Partner of Yarusi Holdings
• Portfolio:
  • 2,300 units
• Based in: Murfreesboro, TN
• Say hi to him at: 
  • Instagram
• Best Ever Book: How to Master a Fit and Rich Life in 15 Days by Jason Yarusi
• Greatest Lesson: Develop a long-term strategy, and stick to it.

Check out Jason’s previous episode: 2877 - Producing Massive Results in an Unpredictable Economic Climate

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Mauricio Rauld, SEC Attorney with over 25 years of experience in real estate syndication law, shares what syndicators need to know to avoid SEC violations. He highlights some of those most common mistakes he sees syndicators making, why capital raisers need to speak with an SEC attorney, and the impact the Corporate Transparency Act will have on investors.

Key Takeaways:

• Building Investor Relationships: Mauricio emphasizes the importance of quality interactions over time in order to protect yourself against relationship-based SEC violations. He clarifies that the SEC doesn't have a specific timeframe but looks for the depth of the relationship. A three-day field trip with meaningful conversations can be more effective in establishing a substantial relationship than a year of one-sided communication through newsletters or social media.
• Corporate Transparency Act (CTA): Mauricio highlights the upcoming CTA, set to take effect in 2024. This act requires individuals with ownership or control of entities to provide personal information, including home addresses and driver's license details, to combat money laundering and tax evasion. Failure to comply with the CTA can result in substantial penalties, making it crucial for investors to stay informed and ensure compliance.
• Common SEC Pitfalls: Mauricio highlights the three most common violations syndicators commit, which include not realizing they are selling a security, getting compensated to raise capital for sponsors, and promoting a deal on social media.

Mauricio Rauld | Real Estate Background

• Founder of Premier Law Group, SEC Attorney
• Portfolio:
  • LP in syndication deals
• Based in: Macomb, MI
• Say hi to him at: 
  • LinkedIn
  • Drunk Real Estate Podcast 
• Best Ever Book: Buy Back Your Time by Dan Martell
• Greatest Lesson: Trust, but verify. You can never go wrong doing proper due diligence to protect yourself in any deal.

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In this episode, we sit down with Matt Drouin, the managing partner at Oak Grove Companies. With 17 years of experience and a portfolio spanning 176 units and over 500,000 square feet of commercial real estate space, Matt's journey from residential sales to multifamily investments and ultimately, to thriving in the evolving office space sector, offers valuable lessons for both seasoned and aspiring real estate investors.

Key Takeaways:

• Redefining Office Space: Matt's success in downtown office spaces challenges conventional wisdom. He emphasizes that smaller, sub-3,000 square feet, well-located office units geared toward mom-and-pop businesses can be the secret to thriving in this sector. Understanding the specific needs of your market and potential conversion opportunities are crucial.
• Adaptability is Key: The discussion underscores the importance of adaptability in real estate investing. Matt's strategy revolves around finding deals that offer a plan B if the initial thesis doesn't pan out. Whether repositioning as an office building or converting to residential use, having multiple exit strategies can mitigate risks and enhance returns.
• Networking and Education: Matt's advice for investors centers on the significance of networking and continuous learning. He encourages real estate enthusiasts to surround themselves with experienced investors and become obsessed with their aspirations. Leveraging platforms like podcasts and actively participating in real estate investor associations can provide valuable insights and support.

Matt Drouin | Real Estate Background

• Managing Partner At OakGrove Companies
• Portfolio:
  • 70% multifamily, 30% retail, industrial and office
• Based in: Rochester, NY
• Say hi to him at: 
  • Facebook
  • LinkedIn
• Best Ever Book: The Snowball Warren Buffett Effect by Alice Schroeder
• Greatest Lesson: If you focus on long term stakeholder value, you'll generate higher returns for your investors.

Check out Matt’s previous episode: 2507 - Financial Freedom by Age 33

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George Roberts, data scientist and principal at Roberts Capital, shares his insights on how to get your foot in the door with a GP team, steps to becoming a thought leader, and why he thinks interest rates may fall sooner rather than later.

Key Takeaways:

• Economic Insights and Challenges: George discusses the challenges posed by the ever-increasing national debt and its potential impact on interest rates and the economy. He emphasizes the importance of understanding historical data and market sentiment when making investment decisions. George highlights that success in commercial real estate requires a deep dive into market specifics, as real estate is hyper-local, and what works in one area may not work in another.
• Multifamily Investment Strategies: George's journey from single-family to multifamily investments underscores the value of partnerships and networking in the real estate industry. He explains the importance of driving for deals, being patient, and playing the long game in finding lucrative opportunities. George sheds light on the concept of "value over price," urging investors to focus on the fundamentals rather than simply chasing after deals.
• Navigating LinkedIn and Building Authentic Content: When discussing success on LinkedIn, George emphasizes the power of authenticity and storytelling. He suggests sharing your journey, including challenges and successes, to engage your audience and create relatable content. George encourages investors to use social media as a platform for education and connection, building relationships and trust within the industry.

George Roberts | Real Estate Background

• Principal at Roberts Capital
• Portfolio:
  • 310 units 
  • One single family rental
  • 3 single family homes in the process of construction
• Based in: Macomb, MI
• Say hi to him at: 
  • Linktree
• Best Ever Book: How to Win Friends and Influence People by Dale Carnegie
• Greatest Lesson: Don't fall victim to FOMO and commit to a deal that doesn't truly make sense. A bad deal can hurt you more now than ever before. 

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Passive Investor Tips is a weekly series hosted by full-time passive investor and Best Ever Show host, Travis Watts. In each bite-sized episode, Travis breaks down passive investor topics, simplifying the philosophy and mindset while providing tactical, valuable information on how to be a passive investor.

Value-add strategies are everywhere. You just have to know how and where to find them. In this episode, Travis shares his own personal stories of embracing a value-add mindset outside of real estate to negotiate great terms and turn a profit.

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Welcome the the Best Ever midweek news brief, a new series where we will highlight the top headlines CRE investors should be paying attention to this week, followed by a deep dive on a larger news topic or trend alongside a CRE expert.

Today’s Headlines:

$4.5B Portfolio for Sale: Lennar has put a massive 11,000-unit multifamily portfolio up for sale. The portfolio is spread across 38 properties in 15 states and is valued at a staggering $4.5 billion. JLL has been tapped to manage the sale.

Bye Bye, Boom: Warehouse construction starts have plunged 48%, the steepest drop since 2009, all while industrial real estate sales at large fell by 45% in Q3, prompting the Wall Street Journal to declare that the Great American Warehouse Building Boom is over.

Retail’s Heating Up: Office real estate posted a third consecutive month of pricing gains while retail thrived, posting a fourth straight month of pricing gains and an average occupancy rate of nearly 86%, its highest since October 2022, according to Crexi data.

Today’s Guest: Jarred Schenke is a veteran commercial real estate journalist and currently writes for Bisnow. Recently, he researched and wrote a piece about how when it comes to multifamily, renter application fraud has gained significant momentum in 2023, largely due to three key factors:

1. The ease with which renters can forge documentation in the digital application process — or apply using a stolen identity altogether.

2. The accessibility on social media (like TikTok, Twitter, Reddit, and more) to information on how to forge such documents (or, in some cases, the ability to purchase fully fraudulent document packages directly).

3. Law enforcement’s inability (and, let’s be real, unwillingness) to do anything about it.

He joined our host, Paul Mueller, to discuss his piece, the biggest surprises from his research, the overall trend of renter fraud, and how social media is enabling the troubling trend.

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In this episode, we chat with Martin Grizzanti of Suplex Properties. Martin has over $20 million in AUM in the Rochester, New York area. Martin and Slocomb discuss their unique approaches to finding off-market deals, the power of partnerships, and the valuable lessons they've learned along the way in their investing journeys.

Key Takeaways:

• Off-Market Opportunities: Marty and Slocomb emphasize the importance of creating your own market by actively seeking off-market deals. Their successful strategy involves cold calling, direct mail, and targeted marketing campaigns, which have proven to be effective in finding hidden opportunities.
• The Value of Partnerships: The podcast highlights the significance of choosing the right partners in commercial real estate ventures. Marty shares a valuable lesson about the importance of having candid conversations about roles and expectations within a partnership before diving into a deal, ensuring a smoother and more equitable collaboration.
• Continuous Learning: Whether it's exploring various asset classes or refining sales and marketing skills, they believe that continuous learning and adaptation are key to long-term success in the ever-evolving commercial real estate industry.

Martin Grizzanti | Real Estate Background

• Suplex Properties, LLC
• Portfolio
  • $20 million AUM - residential, multifamily, industrial, storage
• Based in: Rochestery, NY
• Say hi to him at: 
  • Twitter
  • https://www.youtube.com/@martygrizzanti1663
• Best Ever Book: Never Split the Difference by Christopher Voss and Tahl Raz
• Greatest Lesson: You can’t fail if you don’t quit.

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Victor Leite, Partner at Twenty-Five Eight Capital, delivers his take on how to strategically scale a portfolio and the operations to go along with it in today’s market. He shares tips on going direct-to-seller on deals, how syndicators can minimize damage on distressed deals, and advice to new investors looking to dip their toe into the CRE world.

Key Takeaways

• Preserve Your Reputation Above All: Victor emphasizes the significance of reputation and trust in the world of commercial real estate investing. He believes that safeguarding your reputation and maintaining the trust of your partners and investors is more valuable than any capital in your bank accounts.
• Flexibility and Long-Term Thinking: Real estate is a long-term game, and Victor advises investors to adopt a forward-thinking approach. Instead of seeking perfection in every deal, focus on progress and flexibility, adjusting your strategies to changing market conditions.
• Prepare for Market Cycles: Victor acknowledges the uncertainty in today's market, with shifting interest rates and economic conditions. He recommends staying prepared for market downturns, collaborating with experienced partners, and actively seeking off-market deals to capitalize on opportunities.

Victor Leite | Real Estate Background

• Partner at Twenty-Five Eight Capital
• Portfolio:
  • Mix of single family homes, multifamily, flex industrial, and retail
• Based in: Virginia Beach, VA
• Say hi to him at: 
  • 258cap.com
  • Facebook
  • LinkedIn
• Best Ever Book: Breaking the Habit of Being Yourself by Joe Dispenza 
• Greatest Lesson: Trying to do everything myself and not bringing in my partners sooner.

Listen to Victor’s previous episode: 2096 - Going From The Medical Field to Investing

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Bill Ham, founder of Real Estate Raw and previous owner of over 1,000 multifamily units, shares his wisdom on gauging market cycles, the importance of cash flow and net worth, and why he chose to sell his entire real estate portfolio. 

Key Takeaways:

• Cash Flow vs. Equity: Bill emphasizes the importance of balancing cash flow and equity in your commercial real estate investments. He aptly states, "Cash flow gets you out of a job, but equity keeps you there." This insightful perspective highlights the need to consider both short-term profitability and long-term wealth-building when making investment decisions.
• Legacy Wealth and Business: Bill challenges the notion of leaving behind individual assets as a legacy. Instead, he suggests focusing on leaving a legacy of education, business models, and systems, emphasizing that individual assets may not always be the best gift to pass on to the next generation.
• Getting Started: Bill's best advice for aspiring commercial real estate investors is simple: get started. He encourages listeners to acquire an education, analyze deals, and network within the industry. Bill dispels the myth that real estate investing is only for a select few, emphasizing that anyone can succeed in the business with the right knowledge and determination.

Bill Ham | Real Estate Background

• Real Estate Raw
• Portfolio: 
  • Nothing - sold everything in 2022
• Based in: Atlanta, GA
• Say hi to him at: 
  • realestateraw.com
• Best Ever Book: Creative Cash by Bill Ham
• Greatest Lesson: Get an education and get started. It's always the right time to buy real estate.

Check out Bill’s previous episode: 2449 - Master Seller Financing, Leasing and Creative Financing

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On this episode, Joe Cornwell interviews Jordan Moorhead, a real estate investor who has transitioned from multifamily properties to mobile home parks for better scalability and lower maintenance. Morehead also runs a real estate business with a focus on house hacking, emphasizing adaptability and strategic partnerships in real estate investing.

Key Takeaways -

• Investment Strategy Evolution: Jordan Morehead transitioned from focusing on small multifamily deals to investing in single-family homes, and most recently, to mobile home parks.
• Scalability and Maintenance: He emphasizes the scalability and reduced maintenance of mobile home parks compared to single-family homes.
• Real Estate Agent Business: Morehead operates a real estate agent business, specializing in assisting clients with house hacking strategies.
• Importance of Adaptability: The episode highlights the need for adaptability in real estate investing, adapting strategies to market conditions and personal growth.

Jordan Moorhead | Real Estate Background

• The Moorhead Team
• Based in: Austin, TX
• Say hi to him at: 
  • Instagram
  • Twitter
• Best Ever Book:  Cashflow Quadrant by Robert Kiyosaki
• Greatest Lesson: Buying without proper due diligence.

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Ashley Wilson, CEO of Bar Down Investments, covers a wide variety of topics and challenges facing today’s real estate investors. She discusses the current market conditions and the challenges her team is facing in evaluating property values. Ashley shares the types of value-add deals they are looking for, including distressed properties and unfinished projects with insights into the losses experienced by developers in the current market.

She also shares her insights on preparing for the impact of COVID-19 and gives recommendations for giving back and learning from investment mistakes.

Key Takeaways:

• Operations is Everything: In a downturn, when interest rates and costs are rising fast, the only thing you can fall back on is solid operations. Ashley shares the strategies and safeguards her team has in place to protect their deals and their investors when times get tough.
• Relationships Are Key in Commercial Real Estate: Ashley emphasizes that commercial real estate is a highly relationship-based industry. Building strong rapport with brokers, investors, and other stakeholders is paramount to gain a competitive edge.
• Adaptability and Forward Thinking: Ashley's experiences during the COVID-19 pandemic demonstrate the significance of adaptability and forward thinking in real estate. She outlines the steps her team took before the pandemic hit, which allowed them to thrive when others struggled. Planning for multiple scenarios and being prepared for unexpected market shifts is crucial.
• Value-Add Strategies and Community Building: Ashley discusses her approach to value-add investments, focusing on existing properties. Her strategy extends beyond cosmetic enhancements, encompassing operational improvements, safety measures, and community engagement. By making investments that benefit both tenants and the local community, investors can create long-term value and goodwill.

Ashley Wilson | Real Estate Background

• CEO of Bar Down Investments
• Portfolio: 
  • Multifamily properties
• Based in: Newtown Square, PA
• Say hi to her at: 
  • BarDownInvestments.com
  • ApartmentAddicts.com
  • Instagram
• Best Ever Book: Rich Dad, Poor Dad by Robert Kiyosaki
• Greatest Lesson: Not everyone analyzes deals the same way, and that’s okay. Not every deal has to fit in your perfect little box.

Check out Ashley’s previous episode: 2377 - Raising Occupancy and Avoiding Skips during Covid with Ashley Wilson

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Passive Investor Tips is a weekly series hosted by full-time passive investor and Best Ever Show host, Travis Watts. In each bite-sized episode, Travis breaks down passive investor topics, simplifying the philosophy and mindset while providing tactical, valuable information on how to be a passive investor.

In this episode, Travis shares the story of one investor who is sharing his wisdom about passive investing with his friends and family by teaching them the milk bucket strategy - a reliable and approachable way to learn about and automate passive investing to create financial freedom.

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Welcome the the Best Ever midweek news brief, a new series where we will highlight the top headlines CRE investors should be paying attention to this week, followed by a deep dive on a larger news topic or trend alongside a CRE expert.

Today’s Headlines

Six Interest Rate Cuts in 2024? A recent report from ING Economics predicts that federal interest rates will likely be cut six times in 2024. That’s a bold prediction based on what we’ve seen in 2023. The report cites three key factors: a labor market that it intentionally describes as “cooling, not collapsing,” a gradual easing of inflationary pressures, and — even though spending is still strong — the outlook points to financial pressure hitting millions of households, and soon, which should curb spending and slow overall economic activity.

Midwest Corners Market on Apartment Competition: In RentCafe’s 2023 Year-End Report, the company broke down the U.S. rental markets based on competition. And while Miami was the nation’s hottest rental market, the Midwest was the clear winner, with three cities in the top 5 and 10 of the top 30 most competitive rental markets in the U.S. for 2023.

Today’s Guest: Logan Freeman, co-founder and principal at FTW Investments, joins Paul Mueller to discuss two recent bills proposed in Congress targeting institutional investors that would reduce their ability to own single-family homes. The first — called the End Hedge Fund Control of American Homes Act — would impose tax penalties that would force big investors to sell off the single-family homes they own over a 10-year period, effectively banning them from owning them entirely. A second bill titled the American Neighborhoods Protection Act was also introduced, and this bill would require corporate owners of more than 75 single-family homes to pay an annual fee of $10,000 per home into a housing trust fund to be used as down payment assistance for families. 

Key Takeaways:

• The title of the first bill may refer to hedge funds, but the definition within the bill says that it would target any applicable entity that “manages funds pooled from investors,” which encompasses a large swath of commercial funds and businesses.
  
  

• Should these bills pass, mobile home parks could be significantly impacted by institutional investors shifting their focus. As investors move out of single-family rentals and into multifamily properties and mobile home parks in an attempt to profit from the affordability crisis, rental rates for manufactured and small homes in these parks may rise sharply. This could benefit park owners but exacerbate the affordability crisis for renters living in mobile homes, who may struggle with rising housing costs.
  
  

• These Democrat-led bills are unlikely to pass in a Republican-controlled house; however, these bills (and those that have come before them) are an indication of what Congress is thinking about. So even if these bills don’t pass — and if Congress decides not to entertain the myriad of potential alternatives that could help with affordable housing — future attacks on real estate investors, institutional or otherwise, could be in coming down the pike.

Logan Freeman | Real Estate Background

• Co-founder and chief development officer of FTW Investments LLC, where their strategy involves acquiring, operating, and the eventual disposition of large-scale commercial real estate assets in key sectors and markets.

• Previous episodes: 

  • JF2959: Navigating Today’s Market in the Midwest ft. Logan Freeman

  • JF1845: Ex-NFL Player Turns To Real Estate Investing with Logan Freeman

  • JF1908: Reinventing Yourself After A Traumatic Experience #SituationSaturday with Logan Freeman

• Portfolio: GP of 1,500 multifamily units across four states, plus 600,000 sq. ft. in the office, industrial, and retail sectors.

• Based in: Kansas City, MO

• Say hi to him at:

  • ftwinvestmentsllc.com

  • Facebook

  • Instagram

  • LinkedIn

Iven Vian, the Apartment Ninja Warrior with an 800+ unit portfolio, shares his wisdom about the importance of proactive asset management, being in alignment with your property management company, and facing the realities of real estate investment.

Key Takeaways:

• Shift from Reactive to Proactive Management: Ivan highlights the critical importance of understanding how today's decisions impact the property's future, focusing on mitigating risks, and maximizing long-term profitability.
• The Business Mindset in Real Estate: Iven stresses that owning commercial real estate is not just about property ownership; it's about running a business. He dispels the myth that investing in real estate is a passive endeavor, highlighting the necessity of aligning ownership goals and involving property management companies as integral parts of the business strategy.
• Closing the Gap Between Expectations and Reality: Iven calls for transparency and realism in the industry, advocating for a more seamless transition from underwriting to property management. He believes in addressing misalignment in ownership teams, setting clear priorities, and ensuring all stakeholders have a deep understanding of the operational aspects of a property investment.

Iven Vian | Real Estate Background

• Owner of Apartment Ninja Warriors
• Portfolio:
  • 880 doors
• Based in: Oklahoma City, OK
• Say hi to him at: 
  • Facebook
  • anthemcp.com
  • Instagram
• Best Ever Book: Think and Grow Rich by Napoleon Hill
• Greatest Lesson: If you're doing this as a GP or operator, you have to approach real estate as a business and treat it like one.

Check out Iven’s previous episode: 2702 - 4 Ways to Balance a Full-Time Job with Multifamily Investing

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Matt Picheny, a real estate investor and coach with a portfolio of over 4,500 multifamily units, shares his strategies for navigating around increasing expenses, including evaluating your budget for potential savings, creating additional income where possible, and contesting property taxes when appropriate.

Key Takeaways:

• Expense Reduction Strategies: Matt emphasizes the importance of scrutinizing every line item in the financials, questioning vendor relationships, and seeking opportunities to reduce expenses. He highlights negotiating insurance and taxes, renegotiating contracts, and in-house hiring for specific trades as effective methods to cut costs.
• Property Tax Contesting: Matt shares his experience with contesting property tax increases, emphasizing that it's an ongoing process. He discusses the alignment of interest with consulting firms that work on a contingency basis, ensuring that they only take on projects where savings are achievable.
• Acquisitions in the Current Market: Matt outlines his acquisition strategies for the current market, focusing on properties where he can assume seller debt and secure favorable financing terms. He also discusses the potential of new construction deals with advantageous financing, presenting them as the ultimate value-add opportunities.

Matt Picheny | Real Estate Background

• Real Estate Investor & Coach
• Portfolio:
  • 4,500+ multifamily units as a GP
  • 7,000+ units as an LP
• Based in: Brooklyn, NY
• Say hi to him at: 
  • picheny.com
• Best Ever Book: Principles by Ray Dalio
• Greatest Lesson: I should have bought rate caps on several deals as opposed to using variable rate debt.
  
  

Check out Matt’s previous episode: 2679 - 5 Tips for Transitioning from LP to GP

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Mike Deaton, founder of Flipping Dirt and Deaton Equity Partners, sheds light on the world of land flipping. His simple buy low, sell high strategy requires very little time and energy, and results in major profits.

Key Takeaways

• The Formula for Simple Land Flipping: There are a variety of business models when it comes to land flipping. Mike’s strategy consists of buying properties significantly under market value, doing nothing to them, remarketing them, and selling them within 4 weeks for a hefty profit. There are very few outside parties and logistics involved.
• Marketing Tips for Land Deals: Mike shares his techniques for marketing and selling land properties quickly. He talks about the websites and platforms he uses to list properties, how and when he works with realtors, and how he approaches conversations with buyers.
• The Tax Advantages of Multifamily: After seeing such success with land flipping, Mike’s tax bill was less than ideal. He decided to diversify his portfolio by investing in multifamily to take advantage of the tax and depreciation benefits that asset class brings. Now, his tax bill is near zero.

Mike Deaton | Real Estate Background

• Founder of Flipping Dirt and Deaton Equity Partners
• Portfolio:
  • $1M in land holdings
  • 1,000 multifamily units
• Based in: Woodland Park, CO
• Say hi to him at: 
  • flippingdirt.us
  • cashflowfightclub.com
• Best Ever Book: Mindset by Carol Dweck
• Greatest Lesson: the current financial environment is providing tons of learning

Check out Mike’s previous episode: 2710 - 4 Strategies to Scale as a Multifamily Syndicator

Sponsors

BV Captial

BAM Capital

Ross McArthur, co-founder of Follow the Deal Investments, shares his journey in CRE investing, from being terrified to invest in a four-unit property in 2020 to closing 15 deals in 15 months to establish a 600 unit portfolio today.

Key Takeaways

• Treating Real Estate Like a Business: Even if investing is just a side hustle for you, treat it like a business, not a hobby. This means organizing your operations, setting up dedicated email accounts, and implementing proper accounting and tracking software from day one.
• Strategic Team Building: The key to building a great team is hiring where you’re weak. You don’t have to hire a full team at 40 hours a week right away. Ross shares the transformative impact that hiring a part-time CFO and partnering with a real estate-focused CPA has had on his business and overall bottom line.
• The Power of Cash Out Refinancing and Local Banks: Ross increased his portfolio by 100 units in 12 months by utilizing the cash out refinance method and building relationships with local banks who gave him favorable financing terms. In today’s environment, having a good relationship with your local credit union may make the difference in getting a deal done or not.
• Applying a Sales Process to Your Investing Business: Ross has developed relationships with several key brokers in his market. He calls each of them several times a month to review their pipeline, analyzing new deals and returning to ones he may have passed on previously. This gives a steady pipeline of deals to underwrite and off-market access to potential properties.

Ross McArthur | Real Estate Background

• Follow the Deal Investments
• Portfolio:
  • Multiple multifamily properties in Indiana
• Based in: Indiana
• Say hi to him at: 
  • LinkedIn
  • followthedeal.com
• Best Ever Book: The Decision by Kevin Hart
• Greatest Lesson: You have to treat real estate investing like a business, not a side hobby. And that means having some form of accounting and tracking software, having a specific email set up, basic things to keep yourself organized like a business.

Sponsors

CRE Daily

BV Captial

BAM Capital

Syndication Attorneys

Commercial real estate expert Corey Peterson shares his journey of becoming a master of scaling in the multifamily industry. He reveals valuable insights and strategies for success, emphasizing the importance of curiosity and learning from others. Corey discusses various aspects of commercial real estate investing, from engaging with investors to navigating challenges like rising interest rates. 

Key Takeaways

• The Power of Curiosity and Learning: Corey emphasizes the significance of asking questions and seeking advice from experienced individuals in the field. Being a master copier, he advocates for continuous learning and staying humble, as it's crucial for growth and success in commercial real estate.
• Effective Investor Engagement: Corey shares his approach to working with investors, highlighting that many are more interested in the operator's track record than chasing high returns. He stresses the importance of quantifying your pitch deck and demonstrating clear value to potential investors.
• Navigating Market Challenges: Corey provides valuable insights on dealing with challenges like rising interest rates and handling distressed assets. He encourages open communication with lenders, getting lean during tough times, and being prepared for potential capital calls to weather market fluctuations.

Corey Peterson | Real Estate Background

• CEO and Founder of Kahuna Investments
• Portfolio:
  • 3,000 units/beds valued at over $250 million
• Based in: Chandler, AZ
• Say hi to him at: 
  • kahunainvestments.com
  • LinkedIn
• Greatest Lesson: Become a master copier of those you admire and want to follow.

Past episodes featuring Corey Peterson - JF3240, JF1631

Don't forget to grab Corey's latest book, Trust But Verify: The Passive Investor's Guide to Evaluating Real Estate Syndicators by texting "trust" to 480-500-1127 for a comprehensive guide to vetting syndicators and making informed investment decisions.

Sponsors

CRE Daily

BV Captial

BAM Capital

Syndication Attorneys

Passive Investor Tips is a weekly series hosted by full-time passive investor and Best Ever Show host, Travis Watts. In each bite-sized episode, Travis breaks down passive investor topics, simplifying the philosophy and mindset while providing tactical, valuable information on how to be a passive investor.

On this episode of Passive Investor Tips, Travis Watts shares his journey from a dangerous oil and gas job to a safer, fulfilling career through passive income investments. His story illustrates how passive income can provide more life options and freedom, emphasizing its importance for a better work-life balance.

Sponsors

CRE Daily

BV Captial

BAM Capital

Syndication Attorneys

Commercial real estate expert, Reid Bennett, joins host Paul Mueller to discuss the trends and challenges that investors should keep an eye on as they navigate the complex landscape of commercial real estate in 2024. From rising insurance premiums to supply chain issues, Bennett shares valuable insights that will help investors make informed decisions in the coming year.

Key Takeaways

• The Three Ds of Selling: Bennett emphasizes the importance of monitoring owners' motivations, often driven by "death, disease, or divorce," which can lead to opportunities for investors. Additionally, lenders are facing tough decisions as debt service coverage ratios drop, potentially resulting in distressed property sales.
• Timing the Market: Bennett advises investors not to try to time the market's bottom but instead to focus on deals that make sense with today's debt. He highlights the potential for deals to work out well even with current interest rates, stressing the importance of realistic assumptions.
• Prepare for Distressed Opportunities: With a prediction of increased distress in 2024, Bennett suggests that investors act swiftly when opportunities arise. He cautions against overestimating rental increases and expense reductions, advocating for a conservative approach to assumptions.

Reid Bennett | Real Estate Background

• National Council Chair of Multifamily Properties for SVN, a full-service commercial real estate franchisor of the SVN® brand comprised of over 1,600 commercial real estate advisors and staff that continues to expand across the globe. Multifamily real estate broker who works without council to serve multifamily clients in over 170 markets around the country.
• Based in: Chicago, IL
• Say hi to him at: 
  • LinkedIn
  • Twitter
• Best Ever Book: Insider’s Edge to Real Estate Investing by James L. Nelson
• Greatest Lesson: Hire a coach, and if you don't have an admin, you are one.

Sponsors

CRE Daily

BV Captial

BAM Capital

Syndication Attorneys

Bonus Operations is a series hosted by apartment owner/operator and Best Ever Show host, Slocomb Reed. In each five- to ten-minute episode, Slocomb provides his top takes for executing your business plan and maintaining cash flow.

As a real estate investor or operator, you don’t get to decide when maintenance issues and emergencies rear their ugly heads. To protect your business plan, your property, and your tenant’s happiness, the best time to address maintenance issues is before they arise.

In this episode of Bonus Operations, Slocomb Reed shares tips and stories about why keeping up routine maintenance is essential to your success.

Sponsors

CRE Daily

BV Captial

BAM Capital

Syndication Attorneys

Known for their success in multifamily real estate, Tim Vitale and Tim Vest share their journey, strategies, and the importance of building a thriving community of investors. Discover how they balance their individual strengths, the benefits of partnerships, and insights into commercial properties. 

Key Takeaways

• Maximizing Partner Strengths: Tim Vest and Tim Vitale emphasize the significance of understanding each partner's strengths and weaknesses within a real estate partnership. By leveraging complementary skills, they optimize decision-making and achieve better outcomes.
• Building a Thriving Community: The hosts discuss the power of community building, showcasing their Makin' Moves in Multifamily Facebook group. They highlight the value of mentorship and networking in real estate, emphasizing the role of collaboration in success.
• Effective Time Management: Tim Vest and Tim Vitale share insights into time management and delegation. They emphasize the importance of focusing on tasks that require critical thinking while offloading repetitive or distracting work to optimize productivity and decision-making.

Tim Vitale | Real Estate Background

• Co-Founder of Vive Equity and Makin Moves
• Portfolio:
  • 1200+ apartment units
  • 3 NNN locations
• Based in: Wilmington, NC
• Say hi to him at: 
  • LinkedIn

Tim Vest | Real Estate Background

• Founder of Harvest Properties Group and Co-Founder of Makin Moves
• Portfolio:
  • 1200+ apartment units
  • 3 NNN locations

• Based in: Charlotte, NC
• Say hi to him at:
  • LinkedIn

Check out the Makin’ Moves Facebook Community!

Sponsors

CRE Daily

BV Captial

BAM Capital

Syndication Attorneys

Grant Warrington, a seasoned investor with over 41 units under his belt, shares his journey, from starting as a handyman to becoming a successful commercial real estate investor and educator. He discusses the importance of creating content and leveraging social media to reach a wider audience. Grant also highlights his course, the Apartment Buying Blueprint, which equips individuals with the knowledge and confidence to venture into commercial real estate.

Key Takeaways

• Content Creation and Relatability: Grant emphasizes the power of creating relatable content on social media. By sharing his experiences and knowledge in a simple and understandable way, he reaches a broad audience of aspiring investors who may not be familiar with commercial real estate.
• The Apartment Buying Blueprint: Grant's course, the Apartment Buying Blueprint, offers a comprehensive education on purchasing apartment buildings, especially in the 5 to 20 unit range. This course covers everything from property management to finding off-market deals, making it an invaluable resource for those looking to enter the commercial real estate arena.
• Off-Market Opportunities: Grant discusses the significance of off-market deals in today's competitive market. He shares his techniques for finding off-market apartment buildings, highlighting the importance of persistence and effective communication with property owners. Off-market opportunities can be a game-changer, especially in a challenging real estate landscape.

Grant Warrington | Real Estate Background

• Principal at Warrington Capital
• Portfolio:
  • 41 units personally owned
  • 98 units as small % of GP
• Based in: St Petersburg, Florida
• Say hi to him at: 
  • Instagram
• Best Ever Book: How to Win Friends & Influence People by Dale Carnegie
• Greatest Lesson: Always camera main drain lines.

Sponsors

CRE Daily

BV Captial

BAM Capital

Syndication Attorneys

This episode is the audio from our November 2023 meetup in which host Slocomb Reed guides a panel of short-term rental investment experts. This episode covers key property management topics like parking, laundry, and pet policies, offering practical advice for landlords in the Cincinnati real estate market, along with a Q&A session for professionals.

Sponsors

BV Captial

BAM Capital

Rentec Direct

Julian Vogel, fund manager at Colony Hills Capital, shares his insights on the world of commercial real estate, specifically focusing on garden-style multifamily properties and innovative capital-raising strategies.

Key Takeaways:

• The Power of Co-GP Strategy: Julian discusses Colony Hills Capital's unique approach to raising capital through a co-GP (General Partner) strategy. By bringing together LP (Limited Partner) investors and deploying their funds alongside Colony Hills' principles and employees on a deal-by-deal basis, investors can enjoy outsized returns and diversification.
• Investor Confidence and Trust: Julian emphasizes the importance of building trust and confidence with investors. He highlights the significance of one-on-one Zoom or in-person meetings with potential investors, allowing them to connect with the sponsorship team and understand the strategy and underwriting of the deals.
• Top-Down Approach to Investing: Julian advises active real estate investors to take a top-down approach. Start by identifying markets or sub-markets with strong demographics, industries, and population growth. Then, dive into the deal specifics, analyzing cap rates, potential renovations, and expense reductions to maximize returns.

Julian Vogel | Real Estate Background

• Fund Manager at Colony Hills Capital
• Portfolio:
  • Multifamily - $1.2 billion in total capitalization, +12,000 units, and 36 transactions
• Based in: Wilbraham, MA
• Say hi to him at: 
  • LinkedIn
• Best Ever Book: Ethics of our Fathers by Pirkei Avos
• Greatest Lesson: Invest using a top-down approach. So, look for markets or sub-markets where there's strong income, strong demographics, strong industry, etc. And that those industries are resilient to downturns in the market, like tech, distribution, medical, education.

Sponsors

BV Captial

BAM Capital

Rentec Direct