Chris Urso is a multifamily real estate investor and coach. His real estate company, URS Capital Partners, now controls over 50 million dollars of real estate throughout the Midwest and Southwest of America. Chris began investing in real estate at the young age of 21 years old when he bought a 2-family in 2001 with the money his parents were intending on using for his college loans. In this podcast, Chris covers a range of topics from how to get started, what has worked for him and hasn’t worked and how he structures his deals.
One of his proudest moments in his investing career was purchasing a 280 unit building in Charleston, SC for 7.2 million dollars. Urso then invested 2 million dollars into renovations for the property. All in all Urso plans on selling the property in the next two years for a 3 million dollar profit.
Points Discussed on the Show
Chris Urso gave some great advice throughout the show. One piece of advice he gave is that it is important to focus your energy on one specific type of investing. Urso also stresses the need for every young investor to have a mentor or a coach in their life to help guide them.
Quote’s from the show
“Anyone who says they’ve never lost money in real estate is full of you know what. “- Chris Urso
“You can’t dance at every wedding.”- Steven
“Stay focused on the end game.”- Chris Urso
“Don’t do a deal just for the sake of doing a deal.”- Chris Urso
Favorite Places in Florida
Urso’s favorite spots to hang out in Florida are Del Ray Beach as well as the beaches on the West Coast.
Rich Dad Poor Dad by
Is Jacksonville a City for Millennials? – Real Estate Market Overview
Tim Becker, Director of the Bergstrom Center for Real Estate Studies at the University of Florida talks Jacksonville in the 4th part of our 4 part series, covering the major real estate markets in the State of Florida. This series is in anticipation of the Bergstrom Center’s Trends and Strategies conference from February 26th-27th in Orlando.
Becker reveals that Jacksonville has really taken off in the last couple of years, enough so that Jacksonville is catching up to other major markets in Florida such as Miami, Tampa, and Orlando.
Important Points Discussed:
Quote of the episode
“Everyone is chasing the Millennials.” –Tim Becker
Also do not forget to register for Center’s Trends and Strategies Conference February 26-27 in Orlando, Fl. By following the link and simply registering!
PO Box 117168
Gainesville, FL 32611-7169
Today our guest on the show is a multi-family real estate expert by the name of Michael Becker. Becker is the Senior Director of Lending for Old Capital Lending and Principal in
SPI Advisory, a real estate investment firm specializing in the Multifamily Apartment investments in the Dallas-Fort Worth area. What is surprising about Becker’s story is the breathtakingly short period of time he was grown his portfolio. In two years, he has acquired 9 complexes with more coming this fiscal year. Becker started out as a lender, when the light bulb came on one day and he made the decision to move from collecting a check to taking control. He originally started in the single family market and quickly came to the conclusion that he could not grow the single family business with the speed necessary to meet his goals.
Steven and Eric cover much more than just Becker’s investment history. Michael possesses the knowledge to talk frankly about how to acquire debt to purchase multifamily properties. He touches on many types of lending from small, community bank borrowing to Commercial Mortgage Backed Securities (CMBS), and his personal favorite, agency debt (Fannie Mae and Freddie Mac). Find out the pros and cons of each one of the debt options and learn why Michael likes the agency lenders so much!
Other Important Points Discussed:
- Syndication Strategies
- Off Market Deals
- Property Management Strategies
- Importance of Education
- Inspection – Due diligence
- RUBS – Ratio Utility Billing System
- Water Conservation System
- Mistakes made in the 2008 downturn
- His firm lends in Florida and has done a deal recently in Jacksonville
Quotable – “Running toilets is the sound of making money to me.”
ABC’s of Real Estate Investing
The Advanced Guide to Real Estate Investing by Ken McEleroy.
Get involved – Educate yourself
Find a Good Property Management
Get a good physical inspection
You are never going to know everything you need to know. Avoid paralysis by analysis.
Favorite part of Florida – Panhandle .
Old Capital Lending
The Tampa Real Estate Market marches to the beat of its own drum. While the beach communities of Manatee, Sarasota and Pinellas follow the State’s tourist market, Hillsborough and Polk counties have a solid industrial and transit base. Tampa International Airport is the largest in the area and Ports Manatee and Tampa are significant players in the bulk and container maritime markets. Tampa, however, was slow to emerge from the real estate downturn and has had a history of surges followed by uneven growth. Tim Becker, Director of the Bergstrom Center at the University of Florida, talks about the economic base in Tampa and what the future holds for the Tampa market for 2015 and beyond.
Tim Becker, Director, Bergstrom Center for Real Estate Studies, is our special guest for this third of a four part series of the State of Florida’s major real estate markets, in preparation for the Center’s Trends and Strategies Conference February 26-27 in Orlando, Fl.
If you are an active or aspiring real estate investor in the Florida markets, you will definitely want to catch all four parts of the series.
Check out this episode!