Her career at Morningstar began as a marketing associate for the companys most widely-used financial advisor software system and, prior to that, she worked in marketing at Merrill Lynch Capital. My experience in real estate actually extends back to kinda when I was 11, 12, 13, working for my grandfather in the summers. Awesome. Prior to joining the Origin team in December 2022, she worked as a content marketing coordinator at EveryDose, a niche startup centered on medication adherence. At Centro, Geoff focused on personalizing the companys messaging strategies and expediting adoption of their proprietary software a comprehensive solution for both brands and agencies. In his free time, he enjoys golfing, playing hockey, and making music. Rod Khleif: Those that dont know what hes talking about here, back when things were going fast and loose in 05, 06, 07, a lot of apartment owners were condo-mizing those apartment complexes and selling them off one at a time. Michael also worked at Corporate Express as their Assistant General Counsel. One of his breakout roles came in 1982 when he began portraying Alex P. Keaton on Family Ties. I think Class C might be generous in some of that stuff. In his current role, Ken is responsible for the execution of asset-level strategies and business plans and oversight of development projects from the time of acquisition throughout the deal lifecycle to disposition. Michael is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. Prior to Origin, Regina was a Senior Treasury associate for 5+ years at Straits Financial, a Futures Commissions Merchant, based out of Chicago. Guys, if you wanna reach out to Michael, hes at OriginInvestments.com. Michael Episcope: Yeah But again, when I talk about some of the things that we were tweaking to fund for, as we look at the world, this could potentially be an asset that we would hold much longer term. He primarily oversees investor relations, marketing, and company operations. Webinar today at 11AM CT: Join Origin Co-CEO Michael Episcope and Managing Director of Acquisitions Dave Welk for our IncomePlus Fund webinar. Michael Episcope: We have renovated 30 units. It has a ton. Were under contract for the very last unit, so its taken a while to buy the other 18, but I will say that the condo owners were really stuck as well because you cant sell a condo in a broken structure. I would caution Anyway, like find out what happened, when things went wrong, and find the references for the people who they arent giving you. The materials created by Michelle are essential to acquiring, nurturing, and converting leads, as well as engaging and retaining existing investors. Some went fine and some that didnt go so well. Michael Episcope: Potentially, yeah, if it were an individual asset thats not the strategy. We need to know that theres robust job market growth in there. Ut porttitor ligula eu elit ornare tincidunt. She currently resides in Evansville, Indiana USA. Jimmy is responsible for managing and coding employee expense reimbursements, vendor invoices, preparing corresponding ACHs and tracking monthly timesheets of team members for allocation to various Origin funds. Soon after graduating, he worked in the Transfers department at Millennium Trust. In this assignment, he was able to capitalize on investments made in three REITs and ensure beneficial results. Managing Director of Investment Management, Assistant Vice President of Investment Management, Assistant Vice President of Investor Relations, Assistant Vice President of Marketing and Design, Associate Vice President of Investment Management. And you look at all the low hanging fruit that the management team wasnt charging for, and so Ill take it. How to build good will for future deals, Book Recommendation: Principles by Ray Dalio, To learn more about our guest, click here, Join us at a Multifamily Bootcamp, visit MultifamilyBootcamp.com, Ep #225 Michael Episcope 1 Billion in Real Estate Transactions. Rod Khleif: Sure And their friends, and their relatives. I really wanna flag that for you, guys. Kate joined Origin in 2021 after a tenure at Ventas, a S&P 500 company and a leading healthcare REIT. The company acquires, owns and operates office and multifamily properties in eight U.S. markets. On March 21, 2017, Michael launched his YouTube channel with the video "It's SO HARD being a WHITE person.". We found Michael Sims from North Hills California. What were trying to do is really take, what we call, core plus risk and deliver value add returns. He received a Bachelor of Business Administration with a major in Real Estate and Urban Land Economics from the University of Wisconsin, Madison. Michael Episcope cofounded Origin Capital to create access to real estate investments and management expertise that were previously only available to institutions. Michael Episcope: Yeah. If you can build value and continue to build cash flow in the asset, we leverage two to one to equity. Within her 5+ years of real estate paralegal experience, she assisted in maintaining communication with all parties involved within the transaction, contract negotiations, draft closing documents, clear title, prepare leases, complete any municipality and obtain necessary permits. legal firm chicago deaths legal firm chicago deaths. In 2020, Schmidt penned the book - "Inside the Struggle to Stop a President.". In any deal, first of all, theres nothing more expensive than low cost real estate, so investors have to be careful about making determination based on fees alone. Douglas Bibby, President of the National Multifamily Housing Council tells us the multi-family industry needs 300,000-400,000 units delivered to the US market each year to meet demand. After graduating from UIC, Grace worked as a staff accountant at the food industry consulting firm Technomic, Inc. (now part of Winsight), in downtown Chicago. Michael Episcope: I think what I fell for was the deal itself. Michael Episcope Principal at Origin Investments Published Aug 17, 2017 + Follow This article was . Present portfolios valued over almost a half a billion dollars, or more than a half a billion. Beautiful B-plus asset, early 80s vintage, owned by the same individual who built it, his children managed the property, which thats something thats unique and they [overlap talk], Rod Khleif: Okay. Operationally, weve increased revenues about 50%. In her free time, she enjoys spending time with her nieces and nephews, working out, trying new restaurants, and taking Latin Ballroom lessons. . So if things do happen, youll be able to ride the ship. The investments been going very well on that side. Its a very defined parameter, so not only do they know exactly what theyre doing everyday and where theyre hunting, but the brokerage community and the ownership community, and the management community knows what were looking for as well. It was very challenging to find good quality deals, good quality managers. Prior to Ventas, Kate served as a manager of the LEAN consulting group at Discover Financial Services. Prior to joining Origin, Spencer began his career as an Analyst at Blue Vista Capital Management. The other thing that I learned is that its a heck of a lot more complex than what people realize. Developers have enjoyed years of consistent, reliable rental rate growth, with the average rent growing 13.5% in 2021 and another 6.2% last year, according to Yardi Matrix. Michael Jordan's net worth is $2.2 billion. Bill is on the marketing team, where he leads marketing strategy and produces creative assets for marketing campaigns including blog graphics, email templates, landing pages, and other branded materials. As one of Americas top real estate professionals Rod mentors business leaders and entrepreneurs through world-class speaking events, books, and training courses online and around the world. Twenty per. Its fantastic. Michael Episcope - $1 Billion in Multifamily and Commercial Real Estate Transactions Ep #225 Michael Episcope - $1 Billion in Multifamily and Commercial Real Estate Transactions Watch Now Listen Now LIFETIME CASH FLOW THROUGH REAL ESTATE INVESTING LIFETIME CASH FLOW THROUGH REAL ESTATE INVESTING Michael Episcope: Right. Number 7: Kenneth Tuchman. In his free time, Dan enjoys exploring the many bars and restaurants in Chicago. Michael Episcope: In Chicago, yeah It really afforded him a lifestyle It was nice. This transaction is expected to close in the first quarter of 2023, subject to customary closing conditions. I went to school in Chicago. She also appeared in the romantic comedy How to Lose a Guy in 10 Days and in the Academy Award . And also, once weve improved the asset and grown the top-line revenues, then we may hold it for a couple or more years to generate the cash flow, and increase the multiple on equity. She is also a professor at Johns Hopkins University School of Education. Michael Episcope worked as a commodities trader for 15 years while investing passively before deciding to take things a step further and earn a master's degree in real estate. Articles by Michael Episcope on Muck Rack. Chris is responsible for the development oversight, lease-up execution, and operational and financial performance of the firms multifamily properties across Nashville and the state of Texas. He remains active in the community and alumni Programs for both MSU and the Evans Scholarship House. +1-941-225-8477. Priya is the controller of Origin Investments and joined the team in June 2009. There are deals to be had but not as easy. Rod Khleif: Lets talk a little bit more about fee structure because I just wanna make sure So you dont charge an acquisition fee, you charge a capital What did you describe that as? That can really eat-away the returns. Tom Wheelwright CPA, author of Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes (Rich Dad Advisors) discusses the greatest financial benefits to multifamily real estate investing. Top line. Worked at the Chicago Merc Exchange. But we talked about the buy-fix-sell, thats more of a buy-fix-hold and sell in about four years. Everybody knows my $50 million seminar in 08, and Ive been through other cycles as well that were equally impactful, negatively impactful. Jacob is responsible for underwriting prospective commercial real estate investments across all property types and target markets. At Morningstar, Melissa set the marketing communications strategy to drive demand for an extensive line of products for financial advisors, including software, events and investment management services. Prior to Stony Point, Kevin worked at KETTLER, a leading investor, developer and property manager based in Virginia. She is an analytical, creative and strategic thinker who views marketing as the psychology of business. Very interesting. Cardone currently owns more than 4,000 multifamily units with a current portfolio value of $350,000,000. 27 February 2023 are david buder and lori schulweis still married are david buder and lori schulweis still married It really helped shape my philosophy, and also directed me to Origin, so I wouldnt trade those for anything. Rod Khleif: You have to be continually learning. Appreciate you having me on today. 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