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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: Page 4
Dec 14, 2023

Today my guest is Todd Pigott, Todd is the principal and President and oversees Zinc Financial and the Zinc Income Fund. Founded in 2007. Zinc Financial is a licensed lender having originated and serviced close to $1 billion in loans with a loss ratio of less than 1/8 of a percent. And in just a minute we're going to speak with Todd Pigott about making money lending to fix and flip operators.

Dec 12, 2023

J Darrin Gross

I'd like to ask you, Todd Piggott, what is the BIGGEST RISK?

 

Todd Pigott  

In my opinion, and I evaluate that all the time, what's our biggest risk? I manage $100 million. Right now other people's money throughout our fund, what's the risk that I'm trying to avoid? I can predict the interest rates, I can look at the metrics provided by the GSA for portfolio performance and assess risk there. I can look at absorption rates and assess risk there. I can look at the borrower got good cash down, got good credit backgrounds clean, I can assess risk. They're my biggest concern of risk, and what I do every single day. And I think if there's any time for this to happen, it's it's now my biggest risk that I view as a potential threat to my specific platform, is a calamity outside of housing that will cause housing or real estate to collapse. I believe that housing today is extremely safe. We have 1.8 months of inventory. We have construction. We don't have a wave of foreclosures. We have a shortage of housing and all these point to stability right now except for little pockets here and there down 5% You know you 99% of list prices and my biggest concern. My biggest concern is a calamity outside of housing that will quickly affect housing, a terror attack political dysfunction, a drop in our currency war, war war. You know, everybody can call me a crazy for these things. But I believe that in 2023 The chances of some type of calamity occurring outside of housing or real estate that will affect housing or real estate is as likely. And I think that we're, we're, we're seeing some of that we're seeing things happen politically, society, currency, or even even globally, we're seeing things happen that we've never seen in our lifetime. And so I think if one of those events occurs, that would send housing into an into a spiral. And so that is, here's how I look at this, though, that is something that I don't have control over. I don't know what's gonna happen there. And if it does happen, I tell my investors this, our worst scenario is that we have a classic event outside of housing, that causes a deep decline in asset values across the nation, both in stocks and everything else. So what do we do? I tell them this, at least I've got real estate, I've got a home with a first position lien, we're a borrower with good credit, put down 20%, I can get in my pickup truck, and drive to that property. And we at least have that. So we, he bought it for 400, he put down 60 to 80, we're into it 320, we thought it was gonna be worth 550 and the whole world fell apart. At least we can get in our pickup truck and drive to that property. And I've got a property that somebody has to live in, we will freeze the fund, freeze it. And we will be renting those or holding those for cash flow as as entry level housing until that calamity starts to dissipate. So my investors are coming. So what's the what's the worst thing that can happen? The worst thing that can happen is a calamity outside of housing. At that time, we would at least freeze the fund. And we would at least have assets that we would stabilize with renters for positive cash flow until that calamity dissipates. So that's how I plan on mitigating that that risk threat. And I think that risk threat is potentially real, potentially real, something out there is going to happen five years, 10 years, three years, I don't know it's going to cause a discourse and affect us. I don't have control over that. You don't have control over that. But the best way to protect about that is at least have some type of plan B or extra strategy and we do.

 

Dec 7, 2023

Today, my guest is Paul Ross. Paul is a is an author, speaker, elite sales trainer of neuro linguistic programming. And in just a minute, we're going to speak with Paul about how to get your prospects to convince themselves to by using the power of subconscious programming.

Dec 5, 2023

J Darrin Gross

I'd like to ask you, Paul Ross, what is the BIGGEST RISK?

 

Paul Ross  

I have to say it's context dependent. But if you were to ask me in general broadly, the biggest risk that you can take is to be risk adverse and to need to get absolute clarity before you take an action step. If you're adverse to risk and you need absolute clarity before you act. You then risk can be an emotional risk risking rejection, although I never get rejected, I only discovered the lessons that I didn't know that I had learned. So being risk averse. And as part of that meeting to be certain before you take a step into the unknown, see if you can step into the unknown without needing a guarantee of success and let the other person give them radical permission to have their first response to you. Then something magical opens a doorway to grace the doorway to results that you wouldn't otherwise get if you can get it you need to guarantee.

 

Nov 30, 2023

Today my guest is David Goldfarb. David is the managing partner at Xtreme Action Park Elev8 Fun, EA Properties and Primetime Amusements. And in just a minute, we're going to speak with David about the opportunities in indoor adventure parks.

Nov 28, 2023

J Darrin Gross

I'd like to ask you, David Goldfarb, what is the BIGGEST RISK?

 

David Goldfarb  

So if I'm going to, if I'm going to make this unrelated to let's say, insurance or to anything, from an operational standpoint, I think the biggest risk that we're seeing, or at least I'm seeing in these in picking these locations, is you don't want to go into a location where the mall operate. Operator is like a Slumdog real estate mall operator. So you want to avoid that at all cost. And even though you have a separate entrance, leading into your building, the fact that you're going into a mall, where they are basically treating the property as if it was a warehouse, so to speak, not the way the Simon properties do not the way Washington prime group does. Not not the way you know, some of these, you know, other large mall operators run in this type of environment, I would avoid at all costs. So So you know, there are there are certain certain players out there, and I'm not gonna mention names. But there are certain players out there that have been buying distressed moles. And if you happen to buy a piece of property that's attached to that distress mold, the way they run their operations really is it's unfortunate, because when you're attached to what I would call almost a bad neighborhood, if I'm referencing that, no matter how nice your house is, you're still in a bad neighborhood. So that's what I would avoid at all cost.

 

Nov 23, 2023

Today, my guest is Joseph Woodbury. Joseph is the founder and CEO of Neighbor.com marketplace, disrupting the 500 billion self storage industry. And in just a minute, we're going to speak with Joseph about how neighbor.com is disrupting the Self Storage business.

Nov 21, 2023

 J Darrin Gross

I'd like to ask you, Joseph Woodbury, what is the BIGGEST RISK?

 

Joseph Woodbury  

Yeah, isn't an easy answer. For me. Ironically, I think most people's largest risk is is is in their industry or in their business itself. And, and I certainly think of risks there. But we've kind of talked about the storage industry, it's it's very robust, it's not going anywhere. It doesn't respond to recessions. You know, during the oh eight recession, when most real estate asset classes contracted by 60%, storage grew by 5%. So it's very, like, counter cyclical and recession proof. And so actually, I identify our biggest risk as a company is, is we're influenced not just by the storage industry, but because we're a software technology company, we're influenced by the venture capital industry. And if you look at other large marketplaces that have gone before us, they've raised a lot of capital to get to where they are. Airbnb is a $80 billion company, they just joined the s&p 500. So they are, you know, one of the most important companies in the United States of America. But they raised about $10 billion in capital to get there. You know, Uber raised north of $15 billion, and capital Instacart and DoorDash have both raised I want to say six or seven or $8 billion in capital. So most major marketplaces raised large amounts of capital today, you know, we operate in every city in all 50 states, we've raised a measly, you know, $65 million in capital. So I often ask myself the question, you know, will we be able to raise, you know, those those billions of dollars in capital, like marketplaces that have gone before us to reach the potential that they have, they have reached as mainstay brands in the United States. I think that's, that's the biggest risk. You know, when I, as the CEO, sit down and think it's not the storage piece. Renters love us hosts love us host earning money. renters are saving money, they keep growing, they keep transacting, they keep coming to the platform. It's, it's, you know, we're dependent on this venture capital industry. And it goes through different cycles. It's in a pretty bear cycle right now. And that'll continue to happen and it'll keep going through bear and bull cycles. But will that affect us, you know, years down the road? You know, what we go through some bear cycle that forces us to use other means of funding and that sort of thing?

 

Nov 16, 2023

Today, my guest is Grant Pruitt. Grant is the co founder and president and Managing Director of White Box Real Estate LLC. Grand Lodge the firm has a tenant focused real estate advisory investment sales and development firms to specialize in offering a custom tailored approach. And in just a minute we're going to speak with Grant about the commercial industrial real estate of the market in Dallas, Fort Worth, Texas.

Nov 14, 2023

J Darrin Gross

 I'd like to ask you Grant Pruitt, what is the BIGGEST RISK?

 

Grant Pruitt 

Sure, I'll give you the micro first and I'll give you the macro. So from a micro standpoint, with primarily offices in the state of Texas, the biggest risk is the the perceived safety of the cities. As long as the cities in the state of Texas are perceived as relatively safe, we'll continue to see that inbound migration, the schools have always been an issue. And people always talk about schools. But the minute people don't feel safe, that's when you see a flight to other parts of the country where they do perceive that safety. That's the map the micro, from a macro standpoint, it's probably going to be the same concern tomorrow, and next year, 10 years from now, 20 years from now, it's always the lending facilities for me, because I'm in commercial real estate and always quiz people and say, who owns all the real estate in the United States, because the United States is different than some other parts of Europe and so forth. The banks, the banks own the real estate, because they have loans on most of the real estate that's out there. And when we have hiccups in the lending facilities, that's where we have real trouble. We saw it in, you know, the 1980s 2008. Anytime that banks fail, anytime we see issues with lending, potentially alternative vehicles that that create more risk? That is a huge concern.

 

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