The Smart Real Estate Coach Podcast|Real Estate Investing Episode 70: Learn about the Opportunity Zones
During his 30-year career, Eddie Lorin has been responsible for the acquisition of more than $3.7 billion in office, industrial and apartment community assets nationwide. Prior to founding Impact Housing.com, he founded its Sponsor, Strategic Realty Holdings, LLC, as a culmination of his years of experience in investment real estate and as an offshoot of Strategic Realty Capital (SRC), which he also co-founded. Since 2008, SRC has purchased over 15,000 units in more than 70 transactions valued at over $1 Billion, and has built a strong performing portfolio. All of SRC’s apartment assets were purchased opportunistically and successfully re-positioned into thriving communities.
Prior to forming SRC, Eddie Lorin led the acquisition of 110 properties; 25,000+ units contained in over $2 Billion in real estate for large national apartment company; handled over $700 million in transactions involving Class A office buildings and retail space for Douglas Emmett/Jon Douglas Commercial; and spent 8 years in asset management and development of 5 million square feet of shopping centers and industrial complexes for private Los Angeles investors.
Eddie Lorin is also the co-founder of the 501C-3 non-profit HAPI Foundation, which was created to promote health and wellness in apartment communities. He earned his bachelor’s degree from the University of California, Los Angeles and has been a licensed real estate broker since 1988.
What you’ll learn about in this episode:- How a difficult background and family loss prompted Eddie to get into the real estate industry
- How Eddie and his team got into the distressed property market and carved out a specialized niche
- Eddie’s strategy for making affordable upgrades to units and then turning a profit while cutting costs
- How Eddie’s HAPI (Healthy Apartment Property Initiative) organization benefits the communities in which his business operates
- Why Eddie outsources his apartment management and organizes his small team of employees and how his business benefits
- Eddie’s advice and recommendations for people who want to enter the multi-family real estate business and how to invest with his team
- How “area median income” is used to determine whether or not housing is affordable based on local income averages
- How Eddie dealt with and overcame challenges in his career and details from his greatest career success
- How Eddie is working to help alleviate the homelessness crisis in Los Angeles
- Why Eddie considers the world to be his mentor and why he learns from all his relationships and interactions