JF 3900: Capital Slowdown, Phoenix Deals, and Data-Driven Rent Growth ft. Michael Episcope

May 9, 2025

In this engaging discussion, Michael Episcope, co-founder of Origin Investments, shares his journey from commodities trading to leading a real estate firm focused on Class A multifamily properties. He reveals how his grandfather influenced his real estate mindset and how he navigated launching Origin during the 2008 crisis. The conversation emphasizes the importance of risk management and identifying opportunities amidst a capital slowdown. Michael also discusses the advantages of specializing in high-growth markets and the potential of predictive data in rental trends.

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ANECDOTE

Grandfather's Scrappy Real Estate Start

Michael Episcope started in real estate as a teenager working with his grandfather on Chicago's west side.
He learned to be scrappy by rehabilitating low-value buildings and gained appreciation for real estate's lifestyle and wealth potential.

INSIGHT

Focus on Risk-Adjusted Investing

Investing only when risk-reward is heavily in your favor builds sustainable wealth.
Origin avoids overleveraged deals and opts for lower risk multifamily to preserve and grow wealth.

ADVICE

Contrarian Investing in Development

Invest contrarian when capital is scarce; low capital flow often precedes highest returns.
Ground-up development today, despite high costs, offers future upside due to supply cliffs.

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