Real estate investment expert Eric Sussman discusses analyzing deals and business plans during uncertain times. Topics include the current state of the economy, inflation, interest rates, distressed assets, and evaluating sponsors. Valuable lessons on passive investing for new and experienced investors.

There’s a fascinating world out there for self-storage in a changing market. In this episode, Jeremiah Boucher, the founder and CEO of Patriot Holdings, shares his insights on why self-storage will continue to be in demand, despite potential economic downturns. He emphasizes the importance of operational excellence, adapting to market conditions, and careful property management. He also offers a comprehensive guide for LPs (Limited Partners) to understand investments and assess opportunities in the real estate market. About Jeremiah BoucherJeremiah Boucher is the founder and CEO of Patriot Holdings and manages a $350 million portfolio of alternative commercial real estate assets with a focus on self-storage, manufactured housing, and industrial. He is also the author of Finding Your Edge: How to Win at the Game of Commercial Real Estate Investing.Here are some power takeaways from today’s conversation:[03:24] Jeremiah’s real estate journey[09:13] His transition from mobile home parks to self-storage[11:29] Self-storage investment in a changing market[18:01] A comprehensive guide for LPs [20:31] What value add means in self-storage[26:39] Jeremiah’s criteria for choosing where to invest[34:57] Evaluating industrial real estate investments[38:30] Tips for vetting sponsorsEpisode Highlights:[11:29] Self-Storage Investment in a Changing Market​​Jeremiah believes self-storage will continue to be in demand due to demographic trends and the need for space, despite potential economic downturns. However, investors need to be cautious about overpaying for self-storage assets. Jeremiah emphasizes the importance of operational excellence and adapting to changing market conditions. He also warns of market saturation and the need for careful property management. Additionally, while occupancy may grow, revenue might not as customers become more selective when choosing storage units.[18:44]  Key Considerations for LPs: Understanding Investments and Assessing OpportunitiesBy considering these factors, LPs can gain a deeper understanding of their investments and make informed decisions that align with their goals. Communication and Quarterly Reports: LPs should prioritize open communication, including regular feedback and comprehensive quarterly reports that highlight key metrics. Operational Performance and Addressing Issues: LPs need to analyze how assets are performing and whether the company is actively addressing any challenges. Lack of distribution, for example, requires understanding the reasons behind it and the steps being taken to rectify the situation. Importance of Communication: Effective communication is critical for LPs to assess a team's ability to navigate difficult times. A history of transparent communication demonstrates the team's experience in overcoming challenges and ensures alignment with investors. Team Evaluation: LPs should not rely solely on one person's presentation skills but also seek to engage with other team members. A single-person operation increases vulnerability to personal circumstances that can impact investments. Value-Add Opportunities: LPs interested in value-add investments should focus on mismanaged assets. Typically, these assets require different capex. Additionally, prioritizing quality locations with good visibility and markets that have sufficient demand but limited supply is crucial. Barriers to Entry: Evaluating barriers to entry in the storage market helps determine the long-term viability of an investment. A market with limited supply per capita and obstacles for new entrants provides greater potential for success. [20:31] What Value Add Means in Self-StorageValue add refers to existing, mismanaged self-storage assets that typically have deferred capital expenditures. For a value add opportunity, the asset needs to have good quality "bones" like a decent existing storage business already in place that is conducive to tenants getting in and out easily. The highest value-add for his company is if an acquisition can get additional land on top of the existing storage, as this allows for expansion of the number of units once occupancy is high. Value-add involves making property improvements like lighting, fencing, paving, cameras, and signage to create a better product and command higher rents. But marketing is also important to fill the new units.This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.Resources Mentioned:www.patriotholdings.com  Jeremy’s book: Finding Your Edge: How to Win at the Game of Commercial Real Estate Investing Advertising Partners:Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve SuhTribevestRise48Aspen FundsVyzer

Discover how decentralized technologies are shaping our future! Join Ben Jorgenson, visionary, CEO and founder of Constellation Network, as he explores blockchain, cryptocurrency, and the frontier of Web 3. Ben simplifies complex concepts like decentralized networks, smart contracts, and blockchain's application to challenges like deep-fakes and data governance. Whether new or experienced, gain insights into blockchain's disruptive potential across industries.About Ben JorgensonBen Jorgensen specializes in emerging technologies such as blockchain, cryptocurrency, and Web 3. Contracted by the US Department of Defense, Constellation Network is creating an ecosystem for developers to integrate applications with existing Web 2 infrastructure using blockchain technology. Here are some power takeaways from today’s conversation:[04:05] Ben’s career background and how he found his way into blockchain[09:02] What is disruptive technology?[10:23] Understanding Web 3, blockchain, cryptocurrency, decentralized networking[17:33] Crypto technology and its potential uses[23:44] AI, data ownership, and governance[28:07] Blockchain's potential to validate AI and deep fake images[39:42] The potential of blockchain to simplify digital transactions and revolutionize the real estate industry [45:08] Crypto regulations and fundraising with a crypto company ownerEpisode Highlights:[09:02] What is Disruptive Technology?Disruptive technology refers to anything that challenges societal norms and revolutionizes the way things are done. It breaks open established conventions, offering more efficient, cost-effective, and faster alternatives. Blockchain, for instance, has the potential to disrupt information exchange and validation, particularly in finance. Consider Bitcoin: do we really need multiple layers of institutions to send or receive money from one country to another, like from America to Amsterdam? It's about reimagining traditional processes and embracing innovative solutions that can reshape our world. [10:23] Understanding Web 3, Blockchain, Cryptocurrency, and Decentralized NetworkingWeb 3 encompasses various components, including metaverses - alternative digital worlds for immersive experiences - as recently highlighted by Facebook. Unlike traditional Web 2 technology, Web 3 introduces a more interactive and social aspect to online experiences. At its core is blockchain technology, enabling decentralized entities and transactions using cryptocurrency. This decentralized approach addresses concerns about data governance and control, offering the opportunity to reshape the socio-economic landscape and redefine information governance through Web 3.[39:42] Simplifying Digital Transactions and Revolutionizing The Real Estate Industry Through BlockchainBlockchain removes middlemen in digital transactions, automating processes through code-based trust. This enables seamless execution of contracts and title transfers, transforming the real estate industry. By streamlining the process and reducing human involvement, innovation in buying real estate and creating funds becomes immense. Embracing technology requires a broader perspective, recognizing its disruptive nature and the untapped potential of reducing intermediaries in real estate transactions.This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.Resources Mentioned:Constellation NetworkExponential Organizations by Salim IsmailAvoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve SuhPodcast Recommendations:How Things Work PodcastAdvertising Partners:TribevestSpartan Investment GroupRise48Aspen Funds

Bronson Hill, a multifaceted professional in real estate, discusses his journey from medical sales to owning over $200M in multifamily units. He shares insights on alternative assets like ATMs, car washes, and oil/gas that generate consistent cash flow. The podcast covers the power of education, the importance of multiple income streams, and due diligence for real estate and oil/gas investments.

In this episode, Andrew Cushman, founder and principal of Vantage Point Acquisitions shares his journey from engineering to house flipping to becoming a successful multifamily syndicator. Learn about lessons from his best and worst deals, strategies for navigating changing economic conditions like rising interest rates, and tips for evaluating investment opportunities. Listen in and gain insights on building a long-term real estate career from someone who has seen market cycles come and go!About Andrew CushmanAndrew Cushman is the founder and principal of Vantage Point Acquisitions, a real estate private equity firm specializing in multifamily apartments, particularly in the southeast region. After leaving his corporate position in 2007, Andrew ventured into real estate investment, initially focusing on flipping single-family properties in Southern California. Over time, he transitioned to multifamily acquisitions and has since syndicated and repositioned over 2,600 multifamily units. A former chemical engineer, Andrew brings a unique perspective to the real estate industry. Here are some power takeaways from today’s conversation:[03:11] Andrew’s real estate investing journey[08:06] Practicing R&D in the real estate world[11:39] How he made the transition from engineering to flipping houses[13:39] The worst syndication he has done[20:56] Most common mistakes LP investors make[24:38] IRR vs. AAR[38:36] Fixed rate debt on the portfolioEpisode Highlights:[08:06] Practicing R&D in the Real Estate WorldIn the world of real estate, there's a beautiful concept called "rip off and duplicate," as Cameron Harold aptly puts it. In the corporate world, that's research and development; in real estate, it's rip-off and duplicate. Find somebody who's already successful at what you want to do, learn and copy what they do, and go execute.  This approach not only provides a blueprint for action but also instills the confidence to persist, knowing that proven methods are at hand. [13:39] Lessons Learned From Buying C-Class PropertiesC-class properties may appear promising on paper, but their true nature often falls short in the real world. Recognizing this, Andrew coined the phrase "the grass is always greener over the septic tank" to highlight the deceptive allure of these properties and the lack of competition surrounding them. During a recession, rough C-class properties suffer the most, experiencing severe delinquency and plummeting value. For Adam, this was the worst deal he and his wife had ever done. Although the returns were not impressive, his experience taught him invaluable lessons, now more knowledgeable about what to do and what not to do.[20:56] Common Mistakes LP Investors Make Shopping deals solely based on projected IRR without considering the different levels of risk involved to achieve those returns. Higher returns do not always mean a better investment if they come with greater risk. Not understanding the relationship between risk and return Failing to evaluate deals based on multiple metrics like IRR, annual cash-on-cash return, equity multiple, and annual average return rather than just one metric. No single number tells the whole story. Viewing the relationship with the sponsor/general partner as adversarial rather than as a partnership. Investors need to ensure their interests are aligned with the experienced sponsors they are entrusting their capital for the holding period. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.Resources Mentioned:Vantage Point AcquisitionsPodcast Recommendations:Macro Voices Advertising Partners:TribevestAspen FundsViking CapitalRise48

Mauricio Rauld, a lawyer specializing in real estate syndications and compliance with securities laws, talks about issues to look for when investing in syndications, the importance of reading the PPM, things to look for in an operating agreement, punitive consequences of not doing a cash call, thoughts on changes to the accredited investor definition, and the pros and cons of LPs.

Steve Suh, an experienced passive real estate syndication investor, shares valuable lessons he learned over 14 years. Topics include networking, vetting sponsors and operators, and capital stacks and debt structures. His upcoming ebook goes into detail on each lesson. Must-listen for new and experienced investors!

Rod Zabriskie, President and CEO of Money Insights, discusses how passive investors can enhance their returns on alternative investments using life insurance strategies like 'Investment Optimizer' and 'Capital Avalanche.' He also shares tips on finding the right insurance agent. Topics include real estate journey, benefits of life insurance, ATM fund, and dividend payout rates.

In this episode, host interviews Matt Faircloth, a successful full-time investor with over 15 years of experience. They discuss finding investments with amortization factor, leveraging local resources, and the importance of clarity in passive investing. They also touch upon the benefits of interest-only and HUD loans, and investing for positive impact.

Operating multifamily properties like a business can yield incredible results. In this episode, Ashley Wilson provides valuable insights into operating multifamily properties like a business rather than just as real estate assets. Her focus on controlling operations, renovating units quickly, and analyzing marketing strategies demonstrates how a business mindset can maximize returns.Ashley Wilson is the founder and CEO of Bar Down Investments, co-founder of Apartment Addicts, and co-founder of HouseItLook. She is a bestselling author, a regular contributor to Rent Magazine, and has been involved in over $210 million in multifamily transactions managing over 1,500 units.Here are some power takeaways from today’s conversation:[03:09] Ashley’s introduction to real estate[05:22] Why multifamily is the star of the show[08:47] Maximizing success through controlled factors[15:08] The importance of time and internal rate of return in investments[19:07] Why renovate as many units as possible[26:53] Unveiling the power of business fundamentals for success[31:41] The problem with rate caps and strike ratesEpisode Highlights:[05:22] The Resilience and Benefits of Multifamily Real EstateWhen it comes to real estate investing, multifamily properties undoubtedly take the spotlight. Not only because of their solid fundamentals, they’re also found to be the most recession-resistant asset class within the industry. Time and again, historical data have demonstrated their remarkable performance. The ability to exercise control over these assets is a key advantage that sets them apart. Additionally, they offer attractive tax benefits, which were previously a concern in the single-family space. Multifamily properties have consistently proven their resilience and have become a reliable investment option for the future. With their strong track record, advantageous fundamentals, and tax incentives, they shine as the true stars of the real estate market.[08:47] Maximizing Success through Controlled FactorsIn order to increase the likelihood of success, it is essential to have control over various aspects. While external factors like interest rates and cap rates may be beyond our control, there are numerous elements that we can influence. For instance, we can dictate the day-to-day operations of a property, manage our marketing efforts, maintain adequate reserves, allocate project spending, and determine the return on investment based on chosen renovations. However, achieving success in these areas requires meticulous attention to detail and the dedication of hardworking individuals. Effective communication and streamlined process flows are key components that fall within our realm of control. By focusing on these controllable factors, we can optimize our chances of achieving favorable outcomes.[26:53] Unveiling the Power of Business Fundamentals for SuccessThis is because the fundamentals of the business remain consistent across different sectors. By focusing on these core principles, you will be astounded by the impact you can make. Keep honing those fundamental skills and watch your success soar.This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.Resources Mentioned:Bar Down InvestmentsApartment AddictsHouseItLookConnect with Ashley Wilson on LinkedInInstagram: @badashinvestorPodcast Recommendation:Drunk Real Estate Podcast