The Best Ever CRE Show

John McGeown is a self-described old soul in real estate. He grew up in Chicago and joined the U.S. Navy after graduation, where he served from 1999 to 2003. At age 24, he decided to enter the world of real estate.  Today, John is the president of High Fidelity Property Management, a third-party property management company that has 1,000 apartment units under management throughout Chicago’s North Side neighborhoods. In this episode, he shares his top five Best Ever tips for property managers, as well as his experience as a GP in the Chicago MSA. 1. Don’t Underestimate the Time It Will Take John says that many people who self-manage underestimate the time it takes to properly manage a building, which is why they often come to him for help. “I think the mistake is people try to do too much too fast too soon,” he says.  2. Make Sure You Have the Right Resources Others who self-manage their properties tend to struggle because they haven’t yet established reliable connections. “Having a good cast of vendors is one of the hardest things for property owners who are managing themselves,” John says.  3. Your Existing Portfolio Is the Gold John admits that he is often in “go” mode and forgets this one thing: “Your existing portfolio is the gold, and new people are silver,” he says. He sees many third-party property managers flip those priorities around, making the mistake of devaluing their existing client base and overvaluing new business.  4. Know What You Know — And What You Don’t When asked why he hasn’t ventured into short-term rentals, John answers candidly: “I’m a Navy guy, and I’m very cautious,” he says. “I know what I know, and I know what I don’t know.” It took him a considerable amount of time to discover who he is, what he wants to offer, why he is different, and why people should work with him. Now that he has that figured out, he prefers not to deviate from his plan.  “There’s always going to be a shiny object that somebody is shaking in front of you,” he says. “For me, it never really felt like something that I wanted to do. So I didn’t do it.”  5. Three Things to Look for When Evaluating Vendors “Communication, trust, and competency are the things that we look for when we’re evaluating new vendors,” John says. Additionally, he prioritizes getting the best possible price for the best service he can.  John McGeown | Real Estate Background President of High Fidelity Property Management, a third-party property management company that has 1,000 apartment units under management throughout Chicago's North Side neighborhoods. Portfolio: GP of 100 units LP of 36 units Based in: Chicago, IL Say hi to him at: hifipm.com LinkedIn Greatest lesson: Never give up! This business doesn't slow down for me, so I have to work hard to keep up. Sometimes tomorrow is about learning from yesterday. S​​tay in touch with us! Sign-Up for the Best Ever CRE Newsletter: www.bestevercre.com/access www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com | dip capital Learn more about your ad choices. Visit megaphone.fm/adchoices

Brenda Mas got her start in multifamily in 2002 working in asset management for a developer/operator/builder. After transitioning to the development side of the business, she oversaw acquisitions, entitlements, subdivision, stabilization, and financing for properties in the LA market. She left the company in 2019 to work independently, venturing into syndications with her husband, a construction expert.  Today, Brenda is the founding and managing partner of VestWell Ventures, a group of multifamily operators and developers focused on value-add strategy. In this episode, she shares why she and her husband are shifting their focus back to development, their strategy for selecting land deals, and the biggest lesson she learned during the market collapse in 2008. 1. Focusing on Development When it comes to development, Brenda and her husband have a competitive edge. They have access to consultants, structural engineers, and architects, and they know construction inside and out. Plus, the high demand for housing right now combined with current economic uncertainty made the decision to go back to development a no-brainer.  “Demand is there, and we have the know-how,” Brenda says. “Why not bring that to our investors and allow them to make money alongside us?” 2. Strategy for Selecting Land Deals Brenda and her husband have partnered with an architecture firm to help them determine which deals will work best for them. The size of the land isn’t as important to Brenda as how developers are treated in the town and what regulations are in place.  “Those are things that we really take into consideration,” she says. “Right now our focus is on the Houston market because they have fewer zoning restrictions there, and that expedites our development timeline.” 3. Learning from the 2008 Market Collapse During the collapse, Brenda and her team had property in downtown Los Angeles under construction. Their construction lender folded, and they were on the brink of losing the buildings. Many developers handed over their keys, but she refused. This led to litigation and a settlement. While they didn’t lose any money in the process, they lost valuable time.  “There are times that you have to walk away,” Brenda says, “and understand what’s going on in the economy. The indicators were there that this was going to happen with the construction lender, and we should have paid attention a little sooner.” Brenda Mas | Real Estate Background Founding and managing partner of VestWell Ventures, multifamily operators and developers focused on a value-add strategy. Portfolio: GP of 167 units LP of 1,070 units Based in: Los Angeles, CA Say hi to her at: vestwellventures.com Facebook Instagram LinkedIn Best Ever Book: Measure What Matters by John Doerr Greatest lesson: You have to be engaged in your business, take a proactive approach, and exhibit a great amount of grit, especially when faced with economic uncertainty. I don’t look at multifamily investing as a pastime; it’s my business and I expect to see it succeed. S​​tay in touch with us! Sign-Up for the Best Ever CRE Newsletter: www.bestevercre.com/access www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com | dip capital   Learn more about your ad choices. Visit megaphone.fm/adchoices

Jennings Smith and his cousin Yeadon Smith are business partners who collectively own approximately 48% of their portfolio, which they were able to achieve through BRRRR-style apartment buying. Jennings got his start as a contractor after earning his builder’s license at 19 and began slowly building wealth through real estate. He took Michael Blank’s Ultimate Apartment Buyer Guide online course, which helped him syndicate his first 12-unit deal in 2019.  Today, Jennings is the co-founder of Live Oak Capital and My First Million in Multifamily. Live Oak Capital is an investment firm focused on multifamily, and MFMIM aims to build networks and communication that help people close multifamily deals. In this episode, Jennings explains why he prefers syndications to JV deals, why he chooses to structure his deals with a 70/30 split with 70% going to the GP, and how identifying his strengths and weaknesses helped him to scale.    Jennings Smith | Real Estate Background Co-founder of Live Oak Capital and My First Million in Multifamily (MFMIM). Live Oak Capital is an investment firm focused on multifamily. MFMIM aims to build networks and communication that help people close multifamily deals. Portfolio: GP of: 1,000 units 500 self-storage units Based in: Summerville, SC Say hi to him at: my-first-million-in-multifamily.mykajabi.com Facebook Instagram Podcast YouTube Best Ever Book: Flip the Script by Oren Klaff Greatest lesson: Borrowed belief. Understand that achieving goals is not difficult, it can just be different than what you initially thought. Surround yourself with people that inspire that same belief and are able to unlock your potential. S​​tay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: | dlp capital | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Danté Belmonte is a 24-year-old real estate broker based in Syracuse, New York. Four years into his career, Danté decided to venture into multifamily syndications in the Charlotte, North Carolina MSA.  Today, Danté is the managing partner at Victory Capital Group, which acquires and operates multifamily properties. He is a GP of three syndications totaling 100 units and an LP of approximately 1,200 units. In this episode, Danté shares how he and his business partner find deals in the competitive Charlotte MSA, how they pulled off a 30-day close, how he approaches broker relationships as a broker himself, and the importance of professional property management.  Danté Belmonte | Real Estate Background Managing partner at Victory Capital Group, which acquires and operates multifamily properties in North Carolina. Portfolio: GP of three syndications totaling 100 units LP of about 1,200 units Based in: Syracuse, NY Say hi to him at: victorycapgroup.com Facebook Instagram Greatest lesson: It’s incredibly important to have a partner that fills your voids and that you can trust.   S​​tay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram   Click here to know more about our sponsors: | dlp capital | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Badri Malynur has invested in various startups and across asset classes, including auctions, stock, commodities, and bonds. After entering semi-retirement, a friend asked him to help co-found Avestor Inc., a technology platform focused on an end-to-end solution for sponsors to build customizable private funds.  Today, Badri serves as VP at Avestor in addition to his role as co-founder. In this episode, he shares why he and his friends decided to create Avestor, why both the syndication and fund industries are ripe for disruption, and how customizable private funds are changing investing as we know it.   Badri Malynur | Real Estate Background Co-founder and VP at Avestor Inc., a technology platform focused on an end-to-end solution for sponsors to build customizable private funds. Portfolio: LP of over 50 deals across multiple asset classes including multifamily, self-storage, industrial, mobile home parks, and student housing Based in: Beaverton, OR Say hi to him at: avestorinc.com LinkedIn Greatest lesson: Build a diversified portfolio that spans multiple asset classes using a dumbbell approach for managing risk. S​​tay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors:  dlp capital | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com 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 expands on his famous saying: “It’s simple, but it’s not easy.” He explains how most passive investors begin their journey with a modest investment that might not seem impressive at first, but it’s important to keep in mind that it’s only the beginning. The journey takes time, patience, and self-discipline.  While it is simple to invest, Travis stresses that real estate, in most cases, is not a way to get rich quickly. It’s a wealth-building strategy. However, once you study the fundamentals, get the right education, and lay out your roadmap, it will simply be a matter of time before you reach your financial goals.   S​​tay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors:  | dlp capital | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Leslie Awasom is a nurse anesthetist who co-founded XSITE Capital Investment with his partners, Julius Oni and Tenny Tolofari. When he came across the multifamily asset class, Leslie realized many of his colleagues in the healthcare industry and members of his community were unaware that this type of investment opportunity existed. He and his partners were inspired to create XSITE in 2019 to educate more people about multifamily investing.  Today, XSITE has $125M in assets under management with a growing community of investors. In this episode, Leslie discusses his role as director of operations, his love for analyzing data, and the correlations he’s seen between his career in anesthesiology and business operations for XSITE.  Co-founder and Director of Operations of XSITE Capital Investment LLC, which focuses on multifamily syndications. Previous Best Ever Episode: JF2163: Anesthesiologist to Real Estate with Leslie Awasom Currently works as a nurse anesthetist transitioning to real estate full-time. Portfolio: GP of 694 units, totaling $125M in AUM LP of $53M across two deals Based in: Hanover, MD Say hi to him at: xsitecapital.com Facebook Instagram LinkedIn YouTube Greatest lesson: Have great partners and significantly accelerate your growth.   S​​tay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors:  | dlp capital | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com | Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Looking back on previous passive investing experiences, Michael and his business partner came together with a simple idea: “We can do this better.” Today Michael is co-CEO of Origin Investments, a private equity real estate firm serving nearly 3,000 high-net-worth individuals. Origin builds, buys, and lends to class A multifamily real estate in tax and climate-friendly states.  In this episode, Michael shares how he found his business partner, his strategy for finding developers and managing them remotely, how the JOBS act catalyzed Origin’s growth, and why saying no is the most important lesson he’s learned thus far.    Michael Episcope | Real Estate Background Co-CEO of Origin Investments, a private equity real estate firm serving nearly 3,000 high-net-worth individuals. Origin builds, buys, and lends to class A multifamily real estate in tax and climate-friendly states. Portfolio: $2B in AUM Based in: Chicago, IL Say hi to him at: origininvestments.com Greatest lesson: Don’t engage in businesses that create a conflict of interest between you and your investors. Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors:  Trevor McGregor Coaching | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com 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. Is now a good time to get into real estate? In response to listeners that have been requesting to hear more about current events, Ash and Travis give a detailed update on what’s happening in the real estate market right now.  They share their predictions, thoughts, and opinions on the state of inflation and interest rates, as well as their reactions to fear-inducing headlines. They also discuss their thoughts on the single-family market, how both multifamily and non-residential commercial real estate are performing, and whether now is an ideal time to get into real estate.  Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors:  Trevor McGregor Coaching | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Danny Newberry has been busy since his last appearance on the Best Ever Show. The CEO of Vail Commercial Group, a privately held boutique commercial real estate group, has been focusing on value-add shopping centers and small bay industrial facilities around the country. With close to $100M in assets under management, the group is also focusing on single-tenant, ground-up construction deals.  In this episode, Danny shares what the heavy value-add repositioning process looks like for shopping centers and small bay industrial facilities, plus his unique, win-win approach to tenant relationships.  Danny Newberry | Real Estate Background CEO of Vail Commercial Group, a privately held boutique commercial real estate group that specializes in the acquisition, improvement, repositioning, and management of acquired commercial investment properties. Previous episode: JF1005: Why He Prefers to Buy Shopping Centers Now with Danny Newberry GP of $80M in AUM Based in: Vail, CO Say hi to him at: vailcommercialgroup.com Greatest lesson: Have fun and enjoy the process. Build a great team. Stay focused on your innate abilities. Best Ever Book: Who Not How by Dan Sullivan   Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors:  Trevor McGregor Coaching | Cash Flow Portal | Cornell Capital Holdings | PassiveInvesting.com Learn more about your ad choices. Visit megaphone.fm/adchoices