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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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Now displaying: Category: Real Estate
Jul 25, 2023

J Darrin Gross

I'd like to ask you, Franco Perez, what is the Biggest Risk?

 

Franco Perez  

I think, for this conversation is one of the biggest things is really the advocacy and you mentioned politics. You know, what one of the big risks are people not understanding the value of these mobile home parks, and them advocating for these to be closed down or redeveloped into rentals into rental property? You know, these. That's what I'm fighting for right now with our conversation on the Congress meeting. And that sort of thing is protecting these parks, making sure we keep affordable housing available. And that's one of the big risks that I see because a quick government change could really change the landscape of these opportunities for so many people. And we need to protect these mobile home parks and create guidelines and policies to make sure that there's always going to be opportunities and social mobility for the middle class to be able to, to to own assets and stuff like that as well. So that's, to me, I'm finding is one of the biggest risks of our industry.

 

Jul 20, 2023

Today, my guest is Mike Kaeding. Mike is the CEO of Norhart, where they design build and rent apartments. Norhart is transforming the way apartments are built and managed by incorporating technologies and efficiencies that have revolutionized other industries. And in just a minute, we're going to speak with Mike about how Norhart is disrupting the housing crisis.

Jul 18, 2023

J Darrin Gross

I'd like to ask you Mike Kaeding. What is the Biggest Risk?

 

Mike Kaeding  

Such a good question. I'm going to answer it in three parts, three levels. The first level is the surface level, which is today's some of the bigger risks of the economy. Specifically rise in interest rates has that has a negative effect and debt proceeds used to fund new construction and just deals in general. But if we take it a step further deeper, which you realize is that those kind of problems happen all the time. It's this year, it's interest rates next year, it might be employment. After that it might be a supply chain, just something totally different. And so the deeper level, the deeper risk, there's level two, is making sure you have the right people. Because if you have an amazing quality team that can solve the biggest, most challenging issues, they solve those problems, they start unlocking doors and making things happen that you didn't know could happen. They have the capacity to pivot and change with the changing times and the changing market. So that's the level two tickets one step deeper, and maybe the deepest level for me, I think the biggest risk in life is not utilizing your life to the fullest potential. You know, as I mentioned earlier, my dad died at a relatively young age. And I haven't asked myself the question, how do I want to spend the minutes I have here on Earth? It For Me, a big part of that answer is I want to make some kind of meaningful, positive impact on the world. So I think the biggest risk we all face is selling ourselves short not trying to make the biggest impact we can and not living the life that we know we can live.

 

Jul 13, 2023

Today, my guest is Rick Kalvoda. Rick is the President of the Analytics Branch for the Americas of Altus Group, which is a service provider of intelligence to the global commercial real estate industry. Rick has over 30 years of experience in commercial real estate consulting with a focus on valuation and management. And just a minute we're going to speak with Rick about Data Insights into the Quickly Changing State of the Commercial Real Estate Market. But first, a quick reminder, if you like our show, CRE PN Radio, there are a couple of things you can do to help us out. You can like share and subscribe. And as always, we encourage you to leave a comment. We'd love to hear from our listeners. Also, if you want to see how handsome Our guests are, be sure to check out our YouTube channel. You can find us on YouTube at commercial real estate pro network. And while you're there, please subscribe. With that I want to welcome my guest, Rick Kalvoda. Welcome to CRE PN Radio. 

 

Jul 11, 2023

J Darrin Gross

I'd like to ask you, Rick Kalvoda, what is the Biggest Risk?

 

Rick Kalvoda  

Yeah, I think. So operating expenses of which, you know, insurance is is a big component, you know, the risk, I think, right now have ownership of commercial real estate. I think right now, and this kind of goes back to the uncertainty and what's going to happen with inflation, what's going to happen with interest rates, what's the Fed going to do is just, it's the uncertainty. And as the Fed continues with that increases, the biggest risk right now is is there, you know, is there a global financial crisis, you know, you starting to see the stress on some of the banks, you're starting to see, as I mentioned, with some of the, you know, blending or the borrower's, you know, handing keys back to the lenders, you're starting to see some of that, at the same time, slowing economic growth, you know, and also increase inflation, all that stress to the economy that if we go into a recession if we continue to have higher interest rates and that that's going to have an impact not just on commercial real estate, but across all asset classes, but then specifically, commercial real estate and especially with, you know, the amount of lending done by the regional banks, which you know, are, over the past couple of weeks have seen this stress is, that's probably the biggest, you know, concern out there is in biggest risk for our investor and for our clients, is just what happens, you know, the overall macroeconomic picture and there's just so many different things impact again, on top of that, you know, back to your comment just on insurance is just with the, you know, you just think of the climate risk and everything that's, you know, happened this year, and, and how that impacts, you know, commercial real estate, whether it's rising, you know, ocean levels, etc, is, all of that has, you know, so our clients, the owners and operators of that commercial real estate, not only have to think about that, but then the macroeconomic you know, side of it as well. So, so a lot of risks now, hence the uncertainty, but that's, we're all here to help the industry out, you know, in times of risks like that,

 

Jul 6, 2023

Today, my guest is Anne Hollander, and is the CEO of Lobby CRE, a Thirty Capital Company. And she is making an impression in CRE and tech as one of few CEOs with a background in both real estate operations and rapidly scaling technology companies. And as an expert in strategic strategic planning. And in just a minute, we're going to speak with Anne Hollander about balancing return and risk with data backed asset management.

Jul 4, 2023

J Darrin Gross

I'd like to ask you Anne Hollander, what is the Biggest Risk?

 

Anne Hollander  

I am happy to take on this challenge. So over the course of our conversation, I think we've talked about a number of areas of risk, right, we're seeing expense growth, quite a bit in the operations, which, frankly, is a lot of ways the silent killer. We've talked to them about the debt side of this and understanding your positions within debt and understanding it a much deeper level where you sit today and what risk you're taking on within the debt that you have either existing today on the on your existing assets, or in the future as you're doing deals. Frankly, you know, when I begin to look at, I think there's also equity risk as well for capital call unexpected capital calls, if the to an asset and debt aren't mitigated particularly well. So opening up new risks potentially on the equity side, and either not being able to return as much as you're expecting, or potentially even being underwater in what those returns look like. The three of these things, though, can all be also, the other uncovered risk, or perhaps the area that we haven't talked about at this point is the fact that a lot of information is being sent around quite a bit very freely and openly within an organization and, and then outside of the walls of the organization that can be highly sensitive or are particularly damaging to organizations. If you think about, okay, when was the last time that I took a look at my models that I had that had all of my investor information in it. And it's all sitting in Excel, Excel can't be secured. We don't necessarily know where it goes, who it's shared with. We don't know how they access things. We don't know if they if somebody is modifying something within that document, sending it back sending it around. And so Excel becomes essentially a game of telephone where everybody's got their hands on it, and hands in it. For the most part, you know, fairly innocuous but not not in a place where we can necessarily even assess what if anything has changed or information has been borrowed or stolen back out of that document as well. I think the one thing that we don't talk about much in the commercial real estate space is the technology risk and the data risks that people run when they're using you know, tools that seem extremely convenient, but then have a complete lack of any level of accountability to them. Excel being probably the number one offender other potential tools also offender as well.

 

Jun 29, 2023

Today, my guest is Maya Weinreb Maya is an entrepreneur and a real estate investment bookkeeping specialist. Maya's been doing bookkeeping for almost 20 years, and is a QuickBooks Pro advisor. Before she started her bookkeeping firm, she held the position of CFO for a marketing company in Los Angeles. And in just a minute, we're going to speak with Maya about what does every real estate investor need for their books.

Jun 27, 2023

J Darrin Gross

I'd like to ask you, Maya Weinreb, What is the Biggest Risk?

 

Maya Weinreb  

Yes, I thought about this, I thought about this. I think the biggest risk right now, for real estate investors, for clients, for entrepreneurs, for individuals, for everybody right now, is the fact that the IRS just hired 87,000 new auditors. And you know, we saw articles about that a lot at the end of last year. And I don't know if they're all hired, and they're all implemented. But what does that mean to an individual? What does that mean to an investor? That means that they're, they're 87,000 times more likely to get audited, at least not saying I'm a mathematician, so maybe me No, that's not the exact math, you math it. But to me, that's 87,000 More people who could potentially go and audit your business, your investments. So it just makes it so that all of the things that you're supposed to do that you kind of said, well, no one's ever audited me and it's never really been a big deal. Now is the time to get all of your ducks in a row. Because you are have to map it correctly. Let's just say there's 87,000 More people who could try to audit you than there were before those 87,000 more resources to do that, because the IRS doesn't have time to deal with all of our stuff. Right? They're they're busy going after big fish. And we know ways. You know, there's many tax strategies to minimize risk to not look like you have a bunch of red flags that might get audited, and that's great. So we want to keep doing all those things. For instance, if you have an S corp To make sure you have payroll, that's the biggest red flag, you know, a lot of real estate investors aren't S corporations, their LLC, and so it's different. But sometimes they have holding companies that are s corpse, things like that. And if the IRS audits, you, they're gonna want to see your books, they're gonna want to see receipts for everything, they're gonna want to see bank statements. And on things like business meals, or whatever, that a lot of people not gonna say, a lot of people, some people every time they go to dinner, or have dinner by themselves will consider it a business expense. And the IRS is gonna want you to prove that it was a business expense, and who you went to dinner with. And that needs to be, you know, written on the receipt or in your books for it to make sense, your 1099 that you're like, Well, I'm not going to turn 99, the plumber because it's never really been that big of a deal. It might start being a big deal. There's there are rules written into the IRS code of what happens if you don't file a 1099 on someone, and you allow you know them to work for you under the table. And it's not that big a deal. There's rules and there's big penalties, there's penalties for filing a late 1099, there's penalties on not filing a 1099. And they have not that I know of to this day actually implemented those penalties because they haven't really had time to deal with all of the 1099 filing, for instance, as an example. But now they have 87,000 More people who might be taking a look at that. And in the IRS being the IRS, if they find something that you did wrong, they might try to go backwards and audit you the last seven years. So now is really the time to make sure that we have all our ducks in a row, that we're using the same tax return to get our investments that we use to file with the IRS that we are filing our 1090 nines on every single person that's a service provider, that we have detailed receipts on everything. And I think that while I hope that we can continue, you know, just being risk averse, and and not creating things that are red flags, I don't know that that's the case anymore, that might be changing. They might be you know, I'm really trying not to swear, they might be getting harder on us. And so in order to avoid risk to mitigate risk to minimize risk, you got to have all your legal bookkeeping, IRS ducks in a row. And I don't mean to say that there's some big monster that's terrible and scary, because they're not. And they're all you know, pretty much all IRS agents and auditors are nice people and they're helpful and they're just doing their job. And it's not to say don't go make money or go hide in a corner, you know, make money, they can't talk to you. If you're not making money, go do something, you know, go go buy that property, go do that cool thing you're doing. But just have all your ducks in a row so that nothing can ever come back and build, you know, tear down your empire that you built.

 

Jun 22, 2023

Today, my guest is Bronson Hill. Bronson is the Managing Member of Bronson Equity. Bronson is a general partner in 2000 multifamily units worth over 200 million and CO leads a large inperson multifamily meetup in Pasadena, California called FIBI Pasadena Multifamily. Bronson is also the host of the Mailbox Money Show Podcast. And he understands the investor mindset. Having spoken individually over the phone with over 1300 investors and having raised over 30 million for real estate and his ATM machine fund deals.  Bronson is the author of How to Use Inflation to Your Advantage. And as a regular contributor to YouTube and his blog. He is also the capital raising coach at Kingdom REI, a faith based group, helping investors find deals and raise funds for large real estate deals. And in just a minute, we're going to speak with Bronson about how to use inflation to your advantage.

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