The Best Ever CRE Show

Passive Investor Tips is a weekly series hosted by full-time passive investor and Best Ever Show host, Travis Watts. In each bite-sized episode, Travis breaks down passive investor topics, simplifying the philosophy and mindset while providing tactical, valuable information on how to be a passive investor.   In this episode, Travis discusses the 2,000-year-old philosophy of stoicism. He explains that stoicism helps you to train your mind to overcome fear, uncertainty, and obstacles along the way to becoming a better person — or, in this case, a better investor.    Travis outlines three different elements of stoicism that helve helped him on his personal journey to becoming a full-time passive investor:   1. Learn to Focus on What You Can Control “You have power over your mind — not outside events. Realize this, and you will find strength.” —Marcus Aurelius   When you are a passive investor, lots of things fall outside of your control. These include government decisions, different regulations and programs, actions taken by the Fed, weather, storms, tenant issues, and more.    You can, however, focus on things that are within your control in order to simplify your investing strategy: Do proper due diligence before making an investment. Invest in deals that are conservatively underwritten. Have proper insurance coverage on the real estate you are investing in. Set aside adequate cash reserves for unexpected events.   2. Be Tolerant with Others “Be tolerant with others and strict with yourself.” —Marcus Aurelius   Financial education is not necessarily widespread today. Most people have not taken the time, energy, and effort to become experts in investing. What might seem like common sense to you as a passive investor might not be so obvious to a neighbor, colleague, or coworker. It’s important to be understanding and forgiving of those who, as Marcus Aurelius would say, have been cut off from the truth.   3. You Can Be Twice as Rich by Desiring Half as Much “By desiring little, a poor man makes himself rich.” —Democritus It’s easy to get caught up in the success cycle, always wanting more things and more money. However, if you take a step back and think about what brings you the most happiness, you’ll likely find that many of these things are free or cost very little. It’s important to ask yourself what you're really after and how much is enough. The first episode of Passive Investor Tips covers this topic in more depth. Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: PassiveInvesting.com | DLP Capital |Reliant Learn more about your ad choices. Visit megaphone.fm/adchoices

Jonathan Tonks’s background is in the automotive industry. He began his studies as a mechanical engineer with the goal of following in his family’s footsteps. However, after purchasing and house hacking his first duplex, Jonathan was immediately hooked on real estate. He decided to pursue his passion through mentorship and coaching and quickly found himself on the route to commercial real estate syndications.    Today, Jonathan is the managing partner at Provision Space, which specializes in multifamily syndications and raising capital. He also works full-time as a continuous improvement engineer at Magna International.   In this episode, he shares his biggest learning curve as a sponsor, the most valuable skill he’s developed as an apartment syndicator, and how he approaches and builds relationships with potential investors.    Jonathan Tonks | Real Estate Background Managing partner at Provision Space, which specializes in multifamily syndications and raising capital. Portfolio: GP of 297 units Works full-time as a continuous improvement engineer at Magna International. Based in: Holland, MI Say hi to him at: provisionspace.com Facebook LinkedIn Best Ever Book: Who Not How by Dan Sullivan & Benjamin Hardy Greatest Lesson: Ask and you shall receive. There have been so many lessons wrapped around this concept, but this is the greatest one I've learned. Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: PassiveInvesting.com | DLP Capital |Reliant Learn more about your ad choices. Visit megaphone.fm/adchoices

Bryan McLaren’s real estate background started in sustainable development. He spent his early career working with local communities on how to develop real estate, renewable energy, community systems, agricultural regeneration, and more.  Around 2010 when many states started to legalize cannabis, he immediately saw similarities between sustainable development and the cannabis programs that were emerging in the market. The overlap launched his involvement in the cannabis real estate industry.  Today, Bryan is the CEO of Zoned Properties, a real estate development firm for emerging and highly regulated industries including legalized cannabis. In this episode, he discusses the three major risk conversations investors need to have when it comes to cannabis, his tips for mitigating those risks, and why he is so passionate about the cannabis real estate industry.    “The reason we’re experts is we made every mistake possible along the way, and we learned from them.”    Bryan McLaren | Real Estate Background CEO of Zoned Properties, a real estate development firm for emerging and highly regulated industries including legalized cannabis. They provide integrated growth commercial real estate services, including advisory, site identification, commercial brokerage, property acquisition/investment, sustainable development, and Property Technology (PropTech). Portfolio: GP of four commercial properties in Arizona that have been developed, permitted, and leased to regulated/legalized cannabis operators. Based in: Scottsdale, AZ Say hi to him at: zonedproperties.com LinkedIn Twitter Greatest Lesson: Trust in your brain. In other words, identify smart and ambitious people to join your team, provide clear direction about the goals and objectives, and then trust those team members to get the job done. And provide whatever tools they need to support them. Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: PassiveInvesting.com | DLP Capital |Reliant Learn more about your ad choices. Visit megaphone.fm/adchoices

Each week for the Best Ever Round Table, the three Best Ever Show hosts — Ash Patel, Slocomb Reed, and Travis Watts — come together for a deep dive into a commercial real estate investing topic. In this episode, Ash, Slocomb, and Travis discuss what they believe a hypothetical investor should do with their money, assuming the investor is accredited and has $100K to invest in real estate. The three hosts offer up their investment vehicle recommendations based on the insights they’ve gained from their own careers. Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: PassiveInvesting.com | DLP Capital |Reliant Learn more about your ad choices. Visit megaphone.fm/adchoices

Flint Jamison is a mechanical engineer who spent more than 15 years designing aircraft. He found real estate in 2018, applying the BRRRR model to his first duplex in Milwaukee. However, he quickly pivoted to syndications after coming across a Michael Blank podcast on BiggerPockets.  Today, Flint is the program manager at Vestus Capital, a syndicator that focuses on value-add multifamily and new build-to-rent development. He is a GP of 1,500 units and an LP of approximately 800 units. In this episode, he shares the steps he took to pivot from due diligence to capital raising, how he nurtures relationships with potential investors, and the challenges that come with managing a fund in the current economic climate.   Flint Jamison | Real Estate Background Program Manager at Vestus Capital, a syndicator that focuses on value-add multifamily and new build-to-rent development. They primarily raise capital, with some deal sourcing and asset management as well.  Portfolio:  GP of 1,500 units LP of ~800 units Based in: Denver, CO Say hi to him at:  Facebook Instagram LinkedIn Greatest Lesson: If you build it, they will come — in regards to capital raising. Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: PassiveInvesting.com | DLP Capital |Reliant Learn more about your ad choices. Visit megaphone.fm/adchoices

Jason Brenner was working 60–70 hours per week at a car dealership full-time before he found commercial real estate. Once the pandemic hit in 2020, his dealership was closed for three months — that’s when he decided to make the jump. He started out with two warehouse deals with friends, which quickly led to bigger deals.  Today, Jason is the managing member at Brenner Realty Group, LLC, which performs ground-up developments as well as redevelopment deals. He is a GP of 274 micro apartments, 165 units in development, one warehouse, and one flex-space property. In this episode, Jason tells us how he accommodates the need for versatility in small apartment spaces, how he is able to increase rents by providing convenience to tenants, and why he prefers to capitalize deals in-house.    Jason Brenner | Real Estate Background Managing member at Brenner Realty Group LLC, which performs ground-up developments as well as redevelopment deals. Portfolio: GP of: 274 micro apartments 165 units in development One warehouse  One flex-space property LP of nine deals Based in: Mechanicsburg, PA Say hi to him at: LinkedIn Best Ever Book: Rich Dad Poor Dad by Robert T. Kiyosaki Greatest Lesson: When I was first starting out in real estate about 12 years ago, a friend/business partner said to me, “It’s no fun to be rich alone.” It took a few years for it to fully sink in, but that simple statement has given me a paradigm shift from a world of scarcity into a world of abundance. Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: PassiveInvesting.com | DLP Capital |Reliant Learn more about your ad choices. Visit megaphone.fm/adchoices

Dr. Pranay Parikh is a medical doctor who began investing in real estate to grow his income. He bought a four-unit multifamily property but soon realized his time would be better spent focusing on his full-time career and investing 100% passively. He decided to help other doctors, dentists, and healthcare professionals do the same.  Today, Pranay is the president of Ascent Equity Group, which helps individuals build wealth through low-risk, high-growth multifamily investments in strong markets throughout the U.S. with a focus on healthcare professionals. He owns $200M in CRE, 1,200 units, and four properties as a JV, and is also an LP of over $1B in investments. In this episode, he shares why he believes in managing the manager, his criteria for vetting sponsors and deals, and how he gains leverage with operators.    1. Managing the Manager Ever the actively passive real estate investor, Pranay has weekly phone calls with property management. “Anytime there’s more than $1,000 spent, we want to know why,” Pranay says. “And we always compare that to pro forma.” He tasks himself with maximizing the profit for his investors by ensuring that the sponsor or operator is sticking to the plan.   3. Vetting Sponsors and Deals When vetting a sponsor, Pranay looks at their track record first. He prefers sponsors who have been through a recession and who have been working together for at least five years. He likes to meet them face to face and walk the properties as well. Reputation is also a major factor. “It’s a really small world in real estate,” Pranay says. “You’d be surprised.”  When it comes to deal selection, Ascent employs its own asset manager. “Usually allocators like us don't have their own asset management, but we really believe in managing the manager,” Pranay says. “So we are very selective with the deals we look at.” They underwrite each deal from scratch, then have their asset manager examine it as well before signing on.    3. Gaining Leverage with Operators Ascent typically brings anywhere from 90% to 97.5% of the equity to a joint venture deal. This gives them major decision rights. They have institutional-level oversight over the properties, which allows them to visit sites as often as every other week.  The number-one priority, Pranay says, is always to make sure the business plan is getting taken care of. “We have investor overrides for the decisions, buy/sell rights — we have all of that,” he says. “We really want the power to make sure our investor is taken care of.”    Dr. Pranay Parikh | Real Estate Background President of Ascent Equity Group, which helps individuals build wealth through low-risk, high-growth multifamily investments in strong markets throughout the U.S. with a focus on healthcare professionals (doctors, dentists, etc). They do joint ventures with operators to buy value-add multifamily properties. Portfolio: Joint venture $200M in CRE 1,200 units Four properties LP of over $1B investments Based in: Los Angeles, CA Say hi to him at: ascentequitygroup.com Facebook LinkedIn Best Ever Book: Farewell, Godspeed by Cyrus M. Copeland Greatest Lesson: If you are honest and transparent with your investors, they will give you the benefit of the doubt. With how turbulent the debt market has been, on our last deal, they tried to change the terms the day before closing. We had to go back and offer our investors the chance to back out (only one did that out of 300 investors). Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: Cornell Capital Holdings| PassiveInvesting.com | DLP Capital |Reliant Learn more about your ad choices. Visit megaphone.fm/adchoices

Passive Investor Tips is a weekly series hosted by full-time passive investor and Best Ever Show host, Travis Watts. In each bite-sized episode, Travis breaks down passive investor topics, simplifying the philosophy and mindset while providing tactical, valuable information on how to be a passive investor. In this episode, Travis discusses both active and passive investing strategies and how to decide which is best for you. Deciding factors include the skill sets required and motivation behind each strategy, plus some scenarios where using both strategies might be the best choice.    Active Investing Active investing means having an active involvement in the actual business itself for the real estate that you’re acquiring.    Required Skill Sets The ability to understand and underwrite properties, and to understand the analysis that comes with that.  The ability to find deals off-market that give you your competitive edge.  The ability to assemble teams and manage people.  A conservative and realistic approach to project future and current expenses and potential returns for the deals that you’re doing.  The ability to follow through on a business plan.  Having the time to be able to dedicate to all of this.    Motivating Factors You might be doing an active deal because you want to learn the foundation of real estate, or you may simply enjoy work that involves repairs and renovations. Active investors also earn higher profits on return than passive investors.    Passive Investing As a passive investor, you do not have material participation in the business or deal itself. You are effectively investing in someone else’s deal or someone else’s business as a hands-off investor.   Required Skill Sets  A basic understanding of property analysis and how real estate works fundamentally.  The ability to network and find deals.  The ability to manage your finances and personal budget.  The ability to identify conservative underwriting when you’re vetting deals and doing your due diligence. The ability to relinquish control and just simply let others run the deal, make the big decisions, and do what they do best.    Motivating Factors Passive investing might be for you if you want to free up your time. You may have another career or other professional interest that you focus on full-time, and investing passively would allow you to continue focusing on those interests. It’s a way to build up supplemental income without sacrificing more of your time.    Why Not Both?  Many investors choose some combination of active and passive investing. For example, active investors often invest passively as well in order to diversify their portfolios. Additionally, commercial real estate beginners without much capital to invest often choose to start out as active investors. This strategy allows them to build up their “nest egg” in order to accumulate enough capital to create significant returns once they decide to invest passively. Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: Cornell Capital Holdings | PassiveInvesting.com | DLP Capital Learn more about your ad choices. Visit megaphone.fm/adchoices

Rohun Jauhar began his career in corporate finance, working for General Electric and Facebook before deciding he wanted to branch out on his own. After considering several paths — including running Domino’s franchises — he found multifamily real estate.  Today, Rohun is the founding partner of JT Capital, which focuses on 120- to 400-unit apartment complexes that have below-market rents in Florida. He is a GP of 5,000 units as well as an LP in a few multifamily, self-storage, industrial, and short-term rental deals. In this episode, Rohun tells us how he got started in multifamily by underwriting 100 deals in 30 days, his thoughts on rising interest rates, and how systems have helped him to scale his business.    Rohun Jauhar | Real Estate Background Founding partner of JT Capital, which focuses on 120- to 400-unit apartment complexes that have below-market rents in Florida. Portfolio: GP of 5,000 units LP in a few deals that span multifamily, self-storage, industrial, and short-term rentals. Based in: Austin, TX Say hi to him at: jtcapitalgroup.com Twitter Greatest Lesson: The fundamental lesson that underpins everything we do was something I heard from Bill Ackman, which was that "while everyone else is thinking in years, you can set yourself apart by thinking in decades.” This underpins everything we do from our business to friendships, to health and fitness. Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: Cornell Capital Holdings | PassiveInvesting.com | DLP Capital Learn more about your ad choices. Visit megaphone.fm/adchoices

Morgan Henry is a civil engineering inspector who began investing in the stock market in 2019. She quickly realized she loved researching and working to seek out the best opportunities but craved a more exciting asset class. In 2021, she decided to cash out of the stock market and use that money to get a real estate mentor — and she hasn’t looked back since.  Today, Morgan is the founder of Cassini Capital Investments, which focuses on multifamily syndication. She is a GP of 404 units and asset manager of 428 units. In this episode, she shares the biggest lessons she took away from her mentorship program, how she found her current partner through Facebook, and her networking tips for CRE beginners.    Morgan Henry | Real Estate Background Founder of Cassini Capital Investments, which focuses on multifamily syndication. Portfolio: GP of 404 units Asset manager of 428 units Works full-time in construction management in Civil Engineering. Based in: Dallas, TX Say hi to her at: Facebook LinkedIn Greatest lesson: There are a million ways to make money. I found a lot of my recent success by staying open-minded and taking on any challenge where I can learn and grow my business while providing value for someone else. I’m not caught up in the shiny object syndrome or obsessed with getting a slice of the GP. There are different roads you can take to be successful. Recognize your strengths and weaknesses early on and find someone to compliment them. Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: Cornell Capital Holdings | PassiveInvesting.com | DLP Capital Learn more about your ad choices. Visit megaphone.fm/adchoices