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Commercial Real Estate Pro Network

Commercial Real Estate Professionals who work with Investors, Buyers and Sellers of Commercial Real Estate. We discuss todays opportunities, problems & solutions in Commercial Real Estate.
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Commercial Real Estate Pro Network
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Now displaying: Page 1
Mar 19, 2024

J Darrin Gross

 I'd like to ask you, Christian Gore, what is the BIGGEST RISK?

 

Christian Gore 

That's a great question. I would say, generally speaking, I would say geo geo political risk, that, that can significantly kind of affect what the Fed does or doesn't do. Yeah, we've, there's a lot of things going on overseas. I know we were fortunate enough not to kind of have to, you know, be involved with it daily. But there's there's significant geopolitical risks in our view going on right now. That, you know, who knows what, what what can happen, but there's a direct correlation with the Fed and kind of seeing what what they have the ability to do negatively to our business. So yeah, that would be off the cuff that that would be my, my biggest fear or risk looking forward and really in the near term in the next 12 months, in my opinion.

 

Mar 14, 2024

Today, my guest is Dan Thompson. Dan is a seasoned financial advisor and investor. And in just a minute, we're going to speak with Dan Thompson about Tax Advantaged Investing.

Mar 12, 2024

J Darrin Gross

I'd like to ask you, Dan Thompson, what is the BIGGEST RISK?

 

Dan Thompson  

I think the BIGGEST RISK is to sit idle and do nothing to be so paranoid of risk that you take no risk. And there are some very predictable ways to get your money working and invested. And still keep the risk down. But it just kills me sometimes when I talked to somebody felt, in fact, they just talked to a potential client just yesterday, who's sitting with $1.7 million in a 4% CD. And just like said, That, to me is more risky than putting the money out at, quote, unquote, risk and having it grow for you. Because if you're not at least going to keep up with inflation, you're going backwards every single year.

 

Mar 7, 2024

Today, my guest is Joel Friedland. Joel has been in the industrial real estate world for over 40 years. He buys industrial properties, all cash and no mortgage. And in just a minute, we're going to speak with Joel Friedland, about syndication of industrial properties in the Chicago area.

Mar 5, 2024

J Darrin Gross

I'd like to ask you, Joel Friedland, what is the BIGGEST RISK?

 

Joel Friedland  

I'm afraid I can't give you just one. Because there are actually multiple risks. I've been doing this for 40 years, and I can tell you exactly what I struggle with with risk. Number one risk debt. If you have debt and anything goes wrong, you are screwed. So that's why we do our deals, debt free, no mortgage, that's number one. Number two in industrial, vacancy.  When a building's vacant, and it's a single tenant building on a net lease when the tenant leaves. It's either 100% vacant or it's 100%. Leased. So vacancy vacancy vacancy, it's it hurts us so badly. We need to keep our buildings occupied. The third one is your area, which is risks that have to do with losses, trucks hitting the sidewall of a building, which happened to us two weeks ago. Flooding roofs that a tree falls on, you know, those insurable risks. Those are really big for us. So Basically, it's almost as if we are a homeowner. And we have all the same issues as a homeowner, except we have a tenant that pays rent instead of us occupying the house. And that's the fourth risk if you do a deal with a tenant with bad credit collections.

 

Feb 29, 2024

Today my guest is Ben Spiegel.  Ben Spiegel is a successful investment manager with a decade long track record deploying over 300 million into special situations across diverse asset classes. And in just a minute, we're going to speak with Ben Spiegel about Syndication of Luxury RV Parks in southern Alabama and Mississippi.

Feb 27, 2024

J Darrin Gross

 I'd like to ask you, Ben Spiegel, what is the BIGGEST RISK?

 

Ben Spiegel  

So, land, like I said, we were talking on our economy. When we started our conversation before the podcast began, landlords are Sue land that landlords sued 25 times more than the next business than the next highest sued business. So we're already in a very elevated risk, risk type of business. So I think the major form of risk obviously, when you have ambulance chasers out there looking to profit off of almost any opportunity they can. And so it depends really, it for example, I own a multifamily in Bridgeport, Connecticut, which is, you know, about an hour away from me, and I found a tenant was putting marbles in the lobby, to try to encourage a slip and fall because she's unhappy about her current lease situation. I mean, I've really, I've seen it all. And so but what I went, I think what it comes down to protecting yourself is, when I first started and to give advice, when I first started in this business, I'm just looking to just minimize expenses, minimize expenses, minimize expenses, go with the lowest cost insurance carrier possible, whoever offered the lowest premium I'm dealing with. Now, after having over having over a decade of experience in this industry, I am more than willing to pay a premium for my insurance provider, knowing not necessarily that my deductible is lower, but knowing that they will be there to cover me. If it's not, it's not if it's when I was going to be sued by a tenant for a slip and fall, or maybe there's asbestos in the building, I don't know about that somehow found there, it really can be a there's 100 different things that can be I'd say that, you know, the, the greatest risk is just, it's just being a landlord and being in the position that provides a you're providing housing to people and that the what I guess what I'd like, you know, is just to really not skimp on insurance expense. And, you know, in terms of just like overall risk, I think we're seeing it right now, especially in syndication, a lot of syndicators, were willing to go with variable rate loans, you know, four or five years ago, just to get a lower rate, you know, overall rate in that in that moment, not looking at the future in terms of how rates could move. So that just comes back to just the general principle of having a longer term hold view of your investment, and really be willing to sacrifice a little bit of cost up Friday to potentially to hedge yourself for the long term environment. So that's what I would say on the I, in addition to just general liability and business replacement, business, income replacement insurance, also just in terms of when you're just kind of have a long term view when you're looking at financing and really tenant selection, and even the build quality when you're doing renovations, when you buy a building that has deferred maintenance Are you just going to put a bandaid on it and move along and just keep chugging along. But what you find with that is, you know, a couple months later, there's 20 More band aids as opposed to just biting the bullet in the beginning. Spending the upfront cost is uncomfortable and it's not it doesn't feel great in the moment of sort of curing all deferred maintenance just immediately after acquisition. But I am telling you, it will save you money in the long run over the long run. And it's in my opinion, it's a huge competitive advantage if you're willing to have have that operating strategy.

 

Feb 22, 2024

Today, my guest is Maxwell Wu. Maxwell is the founder of Fulcrum Lending a direct balance sheet lender for multifamily properties nationwide. And in just a minute we're going to speak with Maxwell about nationwide multifamily lending and credit investing.

Feb 20, 2024

J Darrin Gross

I'd like to ask you, Maxwell, Wu, what is the BIGGEST RISK?

 

Maxwell Wu  

I think the BIGGEST RISK, you know, right now in this market It is price fluctuation, right? investors do not like uncertainty. It's almost like a natural thing that the universe wants some order there. And we don't have a threshold to go off of a baseline they go off of it's very hard to see what the future looks like. What do all those words mean? Right? You know, again, you mentioned insurance. And I think a lot of investors, and I'm sure a lot of your listeners have noticed insurance costs skyrocket 3050 100%, of what it was previously. And that's for a multitude of reasons that, you know, we can drone on about, and maybe that's something you're able to add in here. But besides in middle class materials, labor, unexpected, you know, natural events, natural disasters happening. These are all things where, you know, folks didn't think there'd be such a destructive hailstorm in Texas, right. You know, these are things that truly anomalies, black swan events. Again, market does not like uncertainty. But how do you buttress against that against these headwinds? It's you got to Proform it appropriately and do that scenario analysis. And whether we do that for line item expenses, or really on a more macro basis, what happens if interest rates go up another 50 bibs? 100, VIBs 150 bibs, what to do to the property, right? So, sensitizing is a is a great way that we see the kind of hedge against risk or rather go in eyes wide open and say, if this does happen, what's the result? What can we do, right? To your point, what is preventable weather things that you can transfer risk on. So that's, that's how we view risk. And that's how we assess it. And that's how we had it. But in terms of, again, answering your question, what do we think the biggest risk is, is, you know, the highest levels of uncertainty, right. But if you want to be more specific with regard to real estate insurance is is is certainly out there. And making sure that you have the right folks that has seen have seen, you know, where policies were previously in the high inflationary times. And in times of stress, or for limited credit supply, look, or liquidity in the market, right? All these things inform premiums and cost of really insuring these properties, which any lender you go to any good lender you go to is going to require that you have a very strong insurance policy on the property.

 

Feb 15, 2024

Today my guest is Matthew BrodnIk. Matthew is the Chief Investment Officer for EQT Exeter's North American industrial real estate platform. EQT Exeter, is the real estate division of EQT, a purpose driven global investment firm with 244 billion of total assets under management. And in just a minute, we're going to speak with Matthew Brodnik about the current North American industrial real estate space.

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