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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: 2021
Aug 19, 2021

Today, my guest is Yoel Mayerfeld. Yoel is the CO CEO with Chase Properties, where he oversees the company's asset management and financing. Mr. Mayerfeld joined Chase Properties as the Director of Finance in 2005. And in just a minute, we're going to speak with Yoel about a winning investment in retail. While others have been quick to move away from the asset class Chase has been thriving in retail.

Aug 17, 2021

J. Darrin Gross

If you're willing, I'd like to ask you, Yoel Mayerfeld, what is the BIGGEST RISK?

 

Yoel Mayerfeld  

Sure. Well answer in a couple of ways. And risk, as I mentioned, from, you know, how I was trained in in my professional life is really what I'm always first focused on, you know, whenever we're looking at an opportunity. I'm always spending a lot more time on what can go wrong than what can go right. Because capital preservation is our sort of number one goal. From a you know, I would I was looking at my calendar yesterday and saw that we had this podcast and Robbie, who set this up with you wrote in the notes that one question you like to ask is about risk. I should be I should be repair at night, and I happen to be talking to a friend of mine. It's a CEO of a large real estate company public read, and I said, Oh, you know, I, I'm interested in what I'm going to say about what my largest, what I think the biggest risk in this industry is what do you think the biggest risk is? And he said, Well, for sure, the biggest risk is capital markets, freezing up, because whenever that happens, it really puts us in, in a bind. And to be able to, to borrow, which we saw, you know, certainly after the oh eight recession and during COVID. But for me, that isn't at all, what I think has the biggest risk and I think part of that is our strategy, which one thing I didn't get into is that we are low leverage borrowers, which I think differentiates us. So a even when capital markets are tight, for our lower loan to value needs. Usually there's more room for us than for others. Our bankers always tell us they can sleep at night with us better than they can sleep at night with many of their other real estate borrowers. So I just thought that was interesting. I think that would be what a lot of Retail real estate or real estate investors in general would say it's the biggest risk. But for us, we're so focused on the real estate, and it performing with or without debt, we're really not about the financial engineering part of real estate, which, at these low cap rates, I think every real estate investor has had to become somewhat more of a financial engineering, trade than a real estate is a real estate great trade, which is where we really try to stick with. So. So for us, that wouldn't be it for us really on our answer on the retail side, which has been the bulk of our experience and our, in our investment. The biggest risk is the, you know, we can't perform well, for attendance don't perform well. So our biggest risk is, is is these retailers, not figuring it out. And and right now they've been, you know, our portfolio, the sales that tenants report to us are stronger than they've been even pre COVID. They're figuring out their integration of bricks and mortar and online. So they're doing that well. But the day that they don't, the day that they they let you know, competition like Amazon, innovate quicker, you know, figure it out in a way that that puts them at a disadvantage. That's a big risk to us, we need our our tenants to do well. So that's on a more micro to the retail aspect for for more of a macro perspective, as real estate investors generally, which is what we are, I would say it's the risk of the unknown. After living through COVID, you know, you mentioned insurance, you know, we have what we feel is, you know, really good insurance for our portfolio and thought of every scenario. You know, we weren't covered for lack of rent during COVID, when your retailers couldn't pay. So I think the unknown is the biggest risk. So the mitigant, I would say, has has been, our diverse diversification is sort of like the answer for all kinds of risk for investing. And adding multifamily and industrial was a huge help now, for COVID. Because our retailers couldn't pay rent during COVID, because their stores were closed. Our industrial properties all paid rent, our multifamily properties all paid rent. So that diversification was huge for for during that three month period of COVID, that helped us sleep better at night. 

 

Now, even the retail properties it was it was very temporary, and it was a stressful few months when those stores were closed, but we defer the rents for most of our retailers, because our lenders allowed us to defer our loan payments. So all worked out fine. But having that diversification was really a mitigate for, for us, globally. And then the diversification even in within our retail portfolio of mixed geographies, mixed tenants for different credits, so that when, you know, the Siena brands struggled and dress barn closed, it was such a tiny percentage of all of our tenancy that it was very easy to to move beyond that fill, fill some of those dress barns and most of our portfolio continue to thrive. So we were Okay, so the answer to mitigating some of these risks that I think about it continues to be diversification, which has really helped us.

Aug 12, 2021

Today, my guest is Dr. Hank, Dr. Hank is a mental scientist and a wealth maker who helps people become their greatest possibility. And in just a minute, we're gonna speak with Dr. Hank about the power of your thoughts and how they affect your outcome.

Aug 10, 2021

J. Darrin Gross

But take a look and identify what what you consider to be the BIGGEST RISK? Yeah, again, for clarification, I'm not necessarily looking for an insurance related answer. Yeah, yeah. If you're 

 

Dr Hank  

Don't worry, you're not gonna get one. 

 

J Darrin Gross  

Yeah. Well, that's, that's we're now looking for one second. That's good. 

 

Dr Hank  

Yeah, we're in alignment my friend. Yeah, that actually, so so what you explain, for example, as risks, that those are very practical steps, and, you know, very good steps on to avoid risk insurance, it's an excellent way. And I have insurance. And again, it is the name of the game. You know, there's health insurances ways to insure your money, and, you know, all kinds of wonderful, wonderful thing. So I'm all for insurance. However, an answer to your question, the biggest risks that any of us can take, is to get disconnected with our higher power. When we fully disconnected, you actually never can fully disconnect. But when you disconnect enough, away from your higher power, that that's where you commit suicide. So the greatest risk is being disconnected because then you you don't have to worry about insurance, you're not here anymore. But more importantly, I'm what we want, is when you're connected, that you will be guided to, for example, this show, Derek, you're amazing Joe, and how to help people whether it's, you know, in this particular show on mindset, now powerful and important it is, you know, or on insurance that you know, if you don't have so you will be led to people circumstances, events, and thoughts, your own thoughts, that will lead you to the perfect light, the light that you're looking forward to have. So the biggest risk is to rely on just your analytical mind. And the and the opposite of that I want you to do that is to get connected. And you do that through breathing your breath. Deep breaths is a great way to get connected through meditation to get connected, to quiet your mind to do things such as the joy shop, that will get you connected, and you will literally be given all the answers to where there won't be any risk in your life at all. I love it. That's great.

 

Aug 5, 2021

Today, my guest is Brett Swartz. Brad is considered one of the most well rounded capital gains tax deferral experts and informative speakers on the west coast. His audiences are challenged to create and develop a tax deferred transformational exit wealth plan using the Deferred Sales Trust, DST so they can create and preserve more wealth. Brett is the founder of the Capital Gains Tax Solutions, and the host of the Capital Gains Tax Solutions Podcast. Each year he equips hundreds of high net worth business professionals with the DST tool to help their high net worth clients solve capital gains tax deferral limitations. And in just a minute, we're gonna speak with Brett about Deferred Sales Trust.

Aug 3, 2021

J. Darrin Gross

'd like to ask you, Brett Swarts, what is the BIGGEST RISK?

 

Brett Swarts  

Sure, so I'm gonna apply it to the Deferred Sales Trust cuz we didn't actually touch on this, but I think this is really important. So it has to do with asset protection, right? So the more you own and the more you own in your own name and or that's not an LLC or that doesn't have proper insurance, the more you could be liable and have higher risk of somebody suing you and taking that asset okay. So by essence, owner's ownership, and Rockefeller said it well he said own nothing control Everything right? And and the idea was asset protection. So how do you lower risk? Well, on the deferred sales trust, guess what, you become the lender. You don't own the trust. So what you don't own, they can't take from you. Right by default. Now, could a creditor, you know, if they get a judgment against you? And could they potentially get the income off of the trust? Yeah, that's that's common. Right. But could they force the the the ownership, that's not the person that they got the judgment against? to do anything there? No, because they don't own it. So we do love that about the deferred sales trust, who does take and mitigate some of the risk? So I think part of the answer is the risk of just lots of ownership. Instructors are better not insured in a proper way that could be subject to judgments. If there's a way to mitigate that, I think that's that's really good. And I think that's probably the biggest risk I can think for this conversation here. That makes sense Darrin?

Jul 29, 2021

Today, my guest is Trevor Mauch. Trevor is the host of the Carrot Cast Podcast and the CEO of Carrot, one of the nation's fastest growing companies, according to Inc Magazine, where they have helped the nation's top real estate investors and agents plant over 3 million online leads in just five years, closing 1000s of deals with their software and training. Trevor lives in Roseburg, Oregon with his wife and three kids, and is passionate about using business to fuel your passion and amplify your impact that are the impact you want to make in the world. Part of the impact he's passionate about making is helping entrepreneurs unleash that entrepreneurial dream of finally unlocking that freedom, flexibility, finances, and impact that you've dreamed, but have you yet to be able to fully make happen. And in just a minute, we're going to speak with Trevor about online marketing and how to attract an audience and remain relevant.

Jul 27, 2021

I'd like to ask you, Trevor mock. What is the BIGGEST RISK? 

 

Trevor Mauch  39:22  

Man, this is a good question. So four years ago, we started when we do our annual planning, one of the first things that we do, like we'll set numbers and goals and stuff like that. But then right after that, we do an exercise where it's like, it's kind of kind of a SWOT, I guess you could call it but it's like what could kill us? What What can kill this business? Because oftentimes, we ignore those things that truly could take us out and they take us by surprise. And so the things that the top of that for us are, if since we're so heavily focused on Google, and not all the leads for our clients come through Google searches, it could be from pay ads and things like that. But we're very heavily focused on Google, if there was a major change in Google and we got are caught with our pants down, and our websites all sudden, for some reason weren't exactly what Google is looking for. That would be decently catastrophic. And so we take that go, Okay, how do we make sure that that's front and center in our product? Whenever we're looking at anything product related? How do we make sure we're always relevant in Google, we're staying ahead of the curve or websites or fast things like that. The second one day, and I'll just give you two here is being Frank right now in this business. I've been building a leadership team, we had an outside company come in, and did a really good audit for three year vision moving forward. So we all kind of knew what were the weaknesses, what were our blind spots, and I had kind of known it. But what what came up is that I am too key on the strategy side in a way to many parts of the business where people from all around the company see me as innocent as necessary on the strategy. And I'm like, Oh, my gosh, I totally didn't lead well there in those certain spots. Because if I'm that key, if something happens to me, they all feel this thing's gonna fall apart. And so we got around a table, it's like, how do we make this not true here? What what's in my brain? Where do we need to upgrade leaders? You know, keyman insurance, that is an actual thing that we did about a year ago, when we did that, and it's given me peace of mind for me and my co founder for sure.

Jul 22, 2021

Today, my guest is Adam Gilbert. Adam is the president of the firm commercial, where he leads a team of agents specializing in commercial real estate sales, leasing, land acquisition, development, government relations and value add entitlement deals. And in just a minute, we're gonna speak with Adam about value add entitlement deals.

Jul 20, 2021

J. Darrin Gross

So let me ask you, the question that I do ask people is, what is the BIGGEST RISK? Is that what you? Would you? You would, you know, your BIGGEST RISK would be just that?

 

Adam Gilbert  

Yeah, I mean, yeah, this is probably on the riskier side of the type of investment deals that I do. So I mean, I have a shopping center that I'm doing a value add facade enhancement on, you know, that's a tangible asset, these entitlement deals, I would say they're on the risk there, they are probably the biggest risk in terms of deals that I do. Because again, if I'm unsuccessful in getting the entitlements, I've now just pissed away all my money for something that I was able to create no value on. But the if I am successful, then the returns are high enough, you know, 5x 10x, to justify that risk. And, you know, what I equated to is off playing poker, you know, I try to do as much due diligence as I can. And if I'm holding two kings, if I'm holding a great hand, I can still lose, you know, but I'm taking a calculated risk. And knowing that I'm willing to make a bet, because I've, I think that this is where this particular property and this project needs to go.

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