The Best Ever CRE Show

The Best Ever Book Club is a special monthly series hosted by Best Ever founder Joe Fairless. In each insightful episode, Joe dives into influential books that shape the world of investing, exploring key principles, strategies, and lessons to enrich both the seasoned investor and the curious novice. In this episode of the Best Ever Bookclub, Joe Fairless and co-host Paul Mueller discussed "The Asset Mindset" by Daniel Fielding, emphasizing the importance of a positive mindset, choosing the right peer group, and the power of gratitude and perspective in personal growth. They highlighted taking action against fear and avoiding negative comparisons as key to self-development. Sponsors BV Captial BAM Capital Rentec Direct Learn more about your ad choices. Visit megaphone.fm/adchoices

From creative financing strategies to building valuable relationships with brokers, multifamily investing expert Jered Sturm delves into the key strategies that have fueled his success. Discover how he overcame challenges, his approach to sourcing quality deals, and the crucial lessons he's learned on his journey.  Key Takeaways: Quality Deal Flow is Crucial: While opportunities may abound, focusing on deals that align with your investment criteria and market conditions is paramount. Building strong relationships with top brokers in your target market can be a strategic way to access high-quality deals. Building Meaningful Relationships: Going the extra mile to foster relationships with investors, brokers, and partners can set you apart in a competitive market. It's not just about transactions; it's about making a genuine impact. The Responsibility of Raising Capital: Jered's perspective on raising capital is rooted in responsibility. He underscores that investors should treat the capital entrusted to them as a portion of someone's life. Understanding the significance of this responsibility can guide your approach to raising and deploying capital wisely, ultimately benefiting both you and your investors.   Jered Sturm | Real Estate Background SNS Capital Group Portfolio: Multifamily assets in Ohio Based in: Cincinnati, OH Say hi to him at:  snscapitalgroup.com  Best Ever Book: Outlive by Peter Attia Greatest Lesson: Financial returns are supported by operations, and operations are supported by having the right people in the right seats that align with your organization's values.   Sponsors BV Captial BAM Capital Rentec Direct Learn more about your ad choices. Visit megaphone.fm/adchoices

Commercial real estate experts Slocomb Reed, Ash Patel, and Joe Cornwell share their best and worst experiences in real estate investing. They offer valuable insights, lessons, and strategies that every investor should consider. Key Takeaways: The Importance of Reserves: Slocomb Reed discusses the necessity of having sufficient reserves in real estate deals, especially when working with inherited tenant bases or C-class properties. He highlights the importance of staying disciplined and not compromising on the quality of contractors to avoid costly mistakes. Staying True to Your "Why": Joe Cornwell delves into the challenge of managing capital and the temptation to rush into new deals. He emphasizes the need to focus on your "why" in real estate investing, staying patient, and not letting idle cash dictate investment decisions. Lessons for All Investors: Ash Patel shares invaluable advice for real estate investors. He stresses the importance of comfortable idling large sums of cash, finding partners or selling deals if necessary, and understanding your "why" to maintain focus and purpose in your real estate journey.   Sponsors BV Captial BAM Capital Rentec Direct Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Margarella, founder of Next Play Investments, delves into the nuances of commercial real estate investing, shedding light on the intriguing dynamics of the multifamily and self-storage sectors. In this episode, we uncover the evolving trends and opportunities in these markets while gaining essential insights into the strategies and challenges that resonate with commercial real estate investors in 2023. Key Takeaways: Shifting Market Trends in 2023: Michael discusses how market trends have evolved in the commercial real estate space. In 2021 and 2022, self-storage opportunities seemed abundant, but by 2023, there was a decline in available self-storage opportunities. Multifamily, on the other hand, started to see more appealing opportunities in the latter half of 2023, attracting reasonable sellers. Understanding these market shifts is crucial for investors to adapt their strategies. Direct-to-Seller and Broker Relationships: Michael emphasizes the importance of building strong relationships with both sellers and brokers. He highlights the value of getting direct to sellers and shares his plans to enhance this aspect of his business in the coming years. Additionally, he discusses the significance of being on brokers' shortlists and fostering connections that make investors top of mind when opportunities arise. The Power of Lean Investing: One valuable lesson from the conversation is the importance of avoiding over-reliance on pro forma assumptions. Michael shares an example where their pro forma projections were heavily dependent on a new building, leading to challenges, delays, and increased costs. This experience highlights the significance of lean investing and relying on existing property fundamentals rather than overly optimistic assumptions.   Michael Margarella | Real Estate Background Next Play Investments Portfolio: Self-storage facilities (200,000 sq. ft.) Multifamily (~200 units) Based in: New York, New York Say hi to him at:  nextplayinvestments.com Best Ever Book: Rich Dad Poor Dad by Robert Kiyosaki Greatest Lesson: Specific to self-storage, never move forward on a deal that only pencils with the addition of a newly constructed building on the property.   Sponsors BV Captial BAM Capital Rentec Direct Learn more about your ad choices. Visit megaphone.fm/adchoices

Commercial real estate experts Slocomb Reed, Ash Patel, and Joe Cornwell share their best and worst experiences in real estate investing. They offer valuable insights, lessons, and strategies that every investor should consider. Key Takeaways: The Importance of Reserves: Slocomb Reed discusses the necessity of having sufficient reserves in real estate deals, especially when working with inherited tenant bases or C-class properties. He highlights the importance of staying disciplined and not compromising on the quality of contractors to avoid costly mistakes. Staying True to Your "Why": Joe Cornwell delves into the challenge of managing capital and the temptation to rush into new deals. He emphasizes the need to focus on your "why" in real estate investing, staying patient, and not letting idle cash dictate investment decisions. Lessons for All Investors: Ash Patel shares invaluable advice for real estate investors. He stresses the importance of comfortable idling large sums of cash, finding partners or selling deals if necessary, and understanding your "why" to maintain focus and purpose in your real estate journey. Sponsors BV Captial BAM Capital Rentec Direct Learn more about your ad choices. Visit megaphone.fm/adchoices

In this podcast episode, Ash Patel interviews Jim Sheils who discusses his transition from renovating to building new construction properties in Florida, focusing on the build-to-rent sector. He highlights the advantages of new constructions, the company's approach to targeting affordable markets, and their comprehensive property management services. The episode provides insights into investment strategies and the benefits of new constructions for investors. Key Takeaways: Shift to New Construction: Jim Sheils emphasizes the strategic shift from renovating older homes to building new construction properties, especially in response to the evolving real estate market conditions. Build-to-Rent Focus: The episode highlights the advantages of the build-to-rent sector, including its potential for better returns, reduced maintenance issues, and more predictable cash flow for investors. Comprehensive Property Management: Jim discusses the importance of offering all-inclusive property management services, easing the burden for investors and ensuring a more streamlined and efficient investment experience. Jim Sheils | Real Estate Background Partner at Southern Impression Homes & Co-Founder at 18 Summers Portfolio: Build to Rent New Construction Single Families, Duplexes, and Quads. +5,000 Buildable lots in Florida Based in: Jacksonville, FL Say hi to him at:  LinkedIn www.jjplaybook.com Best Ever Book: The Alchemist by Paulo Coelho Greatest Lesson: "Go deep in your own unique abilities & delegate the rest."   Sponsors BV Captial BAM Capital Rentec Direct 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 installment of Passive Investor Tips, Travis Watts discusses three strategies to gain a broader perspective in real estate investment. He focuses on foundational aspects beneficial to both beginners and experienced investors, emphasizing principles and life lessons vital in the field of real estate.   Sponsors BV Captial BAM Capital Rentec Direct Learn more about your ad choices. Visit megaphone.fm/adchoices

Real estate investor and military veteran, Charlie Hardage, discusses the power of using Home Equity Lines of Credit (HELOCs) to accelerate real estate investments. He shares his experiences using HELOCs for various real estate opportunities and emphasizes the importance of tracking net worth. Charlie's passion for giving back to the community is evident as he plans to establish charities combatting food waste and supporting veterans.

Ian Cruz, a seasoned real estate investor, shares his experiences and strategies in the world of commercial real estate. From networking tips that have propelled his success to the power of taking action and learning from mistakes, Ian's expertise is your secret weapon to thrive in the competitive world of commercial real estate.  Key Takeaways: The Power of Networking: Ian emphasizes the importance of networking and how it played a pivotal role in his real estate journey. He recommends attending various meetups and events, even those outside your comfort zone, to expand your network and find like-minded investors. Taking Action and Learning from Mistakes: One of the most significant lessons Ian shares is the importance of taking action. He highlights the trap of analysis paralysis and how it hindered his progress initially. Ian encourages aspiring investors to start, even if it feels uncomfortable, as the best learning often comes from real-world experiences. Building Trust in Partnerships: Ian discusses the value of trust in forming successful partnerships. He touches on the significance of transparent communication, sharing experiences, and building a track record to attract capital partners. Additionally, he emphasizes the importance of having the right team, local connections, and systems in place to ensure project success.   Ian Cruz | Real Estate Background Founder of ELEV8 Capital Holds an active CPA license Manager of Finance at a Venture Capital firm Based In: San Jose, CA Multifamily investor in the Bay Area, CA and Cincinnati Leads and organizes a 100+ member group of investors focused on the Cincinnati market via Fractional, a one-stop shop that makes it easy to form partnerships (create LLC, bookkeeping, file K1's, source PM, secure financing, serve as guarantor for loan, etc.) and buy properties together. SAREcon 2023 Speaker, NVST Quarterly Mixer Speaker   Sponsors BV Captial BAM Capital Rentec Direct Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we sit down with Shelley Peterson, a seasoned real estate investor and co-founder of Kahuna Investments, to discuss her journey in the world of commercial real estate investing. Shelley shares valuable insights into the challenges and opportunities she has encountered, emphasizing the importance of mentorship and taking action. We also delve into her unique approach to syndication and her commitment to giving back to the community. Key Takeaways: Jump In and Take Action: Shelley's advice for aspiring real estate investors is simple yet powerful – don't overanalyze, take action. She encourages investors to dive into their first deal, whether through partnerships or joint ventures, and gain hands-on experience. Learning by doing is the fastest way to understand the intricacies of the real estate market. Importance of Effective Team Building: Shelley highlights the significance of building an effective team within your real estate investment endeavors. She discusses the book "The Five Dysfunctions of a Team" by Patrick Lencioni, which emphasizes trust, vulnerability, and teamwork as essential elements for success in real estate investing. Surrounding yourself with the right people is key. Community Involvement: Beyond financial success, Shelley and her team are passionate about giving back to the community. They actively engage in charitable activities and emphasize the importance of contributing resources and time to support local causes. As a real estate investor, making a positive impact in the community goes hand in hand with financial success. Shelley Peterson | Real Estate Background President of Kahuna Investments Portfolio: 3,000 units valued at over $250 million Based in: Chandler, AZ Say hi to him at:  kahunainvestments.com LinkedIn Best Ever Book: 12 Rules of Life by Jordan Peterson Greatest Lesson: Finding the faith and courage to undergo a personal reinvention.   BV Captial BAM Capital Rentec Direct Learn more about your ad choices. Visit megaphone.fm/adchoices