Category Archives: Multi-Family

Ep. 203 Rod Khleif: Staying Positive about Multi-Family Real Estate during the COVID Crisis

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Staying Positive about Multi-Family Real Estate during the COVID Crisis

Today we talk with Rod Khleif — real estate and multi-family investor in Sarasota, FL — about how he is coping during this COVID crisis. Although Rod admits that a lot of business aren’t going to make it through this pandemic, he takes the position that “along with serious pain, there will be serious opportunity” and that investors should focus on moving forward and not get caught up in the fear and hype.

Key Discussion Points
[01:03] Opening remarks by Eric Odum
[04:14] About our guest: Rod Khleif
[05:12] Tell us how you’re faring in multi-family and what the outlook is for the future
[12:12] What’s your situation with managing your tenants during this COVID crisis?
[24:31] How should investors be positioning themselves for the future?
[29:06] Are you worried about not having a COVID vaccine for another 18 months?
[34:23] How is this recession different than the last recession?
[40:04] Closing remarks by Eric Odum

About our Guest

Rod_Khleif_imageRod Khleif is a multiple business owner and philanthropist who is passionate about real estate business and giving back. As one of the country’s top business real estate and peak performance luminaries, Rod has owned over 2,000 homes and apartment buildings, and has built over 24 business in his 40 year business career – several of which have been worth tens of millions of dollars. Rod also founded the Tiny Hands foundation which has benefited more than 75,000 community children in need.

 

Website: multifamilyvirtualbootcamp.com

 

Ep. 195 James Donnelly: Residential Property Management

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Residential Property Management

With the cap rate compression environment that we’re in right now, it’s more important than ever for multifamily investors to be creative about how they add value in order to increase rents and get a good return on their investment.

In this week’s podcast, we talk with James Donnelly, Founder and CEO of Castle Group, which focuses on residential property management. James discusses the 3 main strategies he employs to add value to his company’s investments and deliver top level services and amenities to a new generation of every more demanding residents.

The 3 main categories James discusses to add value to an investment is: 

  • Traditional value-add – e.g. painting, putting in a new floor, or adding new amenities
  • Technology – using technology to make you not only more efficient, but also using that as a revenue stream
  • Better management and service

Join us for this podcast as James gives his investment advice and his take on the multifamily market in Florida.

Key Discussion Points
[04:48] About our guest: James Donnelly
[06:28] How did you get started in Residential Property Management?
[11:29] How did you end up in South Florida?
[14:40] Where do you see the multifamily market going?
[18:36] What cap rates are you seeing around Florida?
[23:27] What are some of the other value-add plays that are emerging right now?
[25:33] What common mistakes do you see property managers or others making?
[31:09] How can folks contact you?
[31:53] Summary of where we are, where we’re headed, & what you would tell someone who’s calling about a deal in Southease Florida
[37:42] Closing remarks by Eric and Steven

 

About Our Guest

2018-James-Donnelly-500px

James Donnelly is the Founder and CEO of Castle Group. He has over 30 years of experience serving residential communities in managing residential properties. James is a CPA, general contractor, investor, and prominent speaker in the industry. He is very active in the community and benefactor of numerous philanthropic organizations.

Most recently, James, received the Sun Sentinel’s Excalibur Business Leader of the Year for Broward County as well as the 2019 Terry Stiles South Florida Leadership Award presented by the Greater Fort Lauderdale Chamber of Commerce.  He has also been recognized in the South Florida Business Journal as one of Broward County’s Ultimate CEO’s, was inducted in 2014 into the Hall of Fame at Nova Southeastern University’s H. Wayne Huizenga School of Business and Entrepreneurship and was honored by Palm Beach Atlantic University in 2017 on Free Enterprise Day as a Companion Medalist.

Website:  castlegroup.com
Phone:   800.337.5850

 

Ep. 189 Bryan Chavis: Multifamily Syndication and Investing

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Multifamily Syndication

Everybody wants to be a syndicator but you really need to understand the back-end of the business before you go out and syndicate (what to do, when to do it, and understanding the systems that you need to have in place). Even if you get the money and the investors — that is the easier part. The harder part is what comes afterward.

Brian discusses his strategies to be a successful syndicator, such as asset stacking, having “boots on the ground”, understanding how to operate the asset, attracting money, and judging whether an investment is considered a security (SEC). 

Key Discussion Points with Bryan Chavis

[04:29] Introduction to Bryan Chavis
[07:07] Discussion about headwinds in the current market
[12:35] Current multifamily market situation right now
[16:10] Are you still finding investments with low cap rates?
[19:25] Asset strategy stacking
[22:31] Syndication mistakes and tips to avoid them
[26:48] Raising money for syndication
[29:25] What do you see as most important for investors?
[36:44] Info about Bryan’s Multifamily Matrix Event & Multifamily Apartment Social Meetup
[41:08] Final thoughts from Eric and Steven

 

About Our Guest

Multifamily Property Management

Bryan Chavis is an active multifamily investor as well as author, blogger, educator. His best-selling books Landlord Entrepreneur and Buy It, Rent It Profit, outline the financial draws of investing in multifamily rentals. 

Bryan is the founder of Chavis Captial (chaviscapitlre.com), a private equity firm that specializes in multifamily acquisitions.  He also the founder of Bryan Chavis Coaching & Consulting, and is only one of a handful of authors with a book in the U.S. library of congress.

Bryan was also a guest on episode 149 – check it out!

Investor Resources

Website: bryanchavis.com
Multifamily Matrix Event info (hosted by Bryan): bryanchavis.com/matrix

 

Ep. 187 Jeff Klotz: Multifamily Investment Real Estate in Jacksonville, FL

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Multifamily Investment Real Estate in Jacksonville, FL

Jeff Klotz talks about multifamily investing in Florida, specifically in Jacksonville and the I-4 Triangle (Tampa, Orlando, and Jacksonville) and also shares his positive outlook on the real estate market given the recent negative yield curve and tariffs. 

He also tells his story of how he got started in real estate in high school, and how he kept growing his business to become CEO of The Klotz Group of Companies, which is the current middle market leader in multifamily real estate investments with a portfolio valued at over $1 billion.

Discussion topics and questions with our guest, Jeff Klotz

[03:14] Introduction of our guest, Jeff Klotz
[04:54] How did you get into the real estate business?
[05:57] When did you start getting interested in multifamily?
[13:25] Tell us about the blind pool real estate funds you launched
[22:20] What are some of the challenges of operating a syndication business?
[27:02] How are you finding your deals?
[29:03] Give us your take on the market from a high level, taking into account the recent inverted yield curve and tariffs
[32:24] How is business going for you in Florida, particular Jacksonville?
[43:08] What bottle necks, if solved, would help your business grow?
[45:58] How can people get in touch with you?
[47:06] Closing remarks by Eric

 

About Our Guest

Jeff_Klotz_350px

Jeff Klotz is a serial entrepreneur, speaker, and multifamily real estate expert.

Jeff started his real estate career in high school purchasing single-family properties. That business quickly grew to 30 homes which led to the acquisition of several supporting industries. Jeff hired 250 employees to service the multifamily sector and became one of the fastest growing businesses of 2000.

Today, Jeff is the CEO of The Klotz Group of Companies, LLC which remains the middle market leader in multifamily real estate investments with more than 1,000 employees as well as significant real estate and investment holdings with a portfolio valued at over $1 billion.

Investor Resources

You can contact Jeff Klotz via the following ways:
Website:  theklotzcompanies.com
Email: jklotz@theklotzcompanies.com

Ep. 183 John Wilson: Personal Journey into Multifamily Real Estate

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Personal Journey into Multifamily Real Estate

John Wilson worked in the corporate world for about 20 years before deciding to quite his corporate job and get into multifamily real estate full time. John shares his journey starting from his first multifamily real estate investment to the lessons learned from investing in a 17 unit apartment to what he is investing in now. He also shares advice to others who are looking into taking those first steps into the multifamily market. 

 

Podcast Outline 

[04:51] About our guest: John Wilson
[06:46] How did John get started in real estate and what was his first property?
[15:57] Discussion of the Ratio Utility Based System (RUBS) to distribute tenant costs for apartment utilities
[19:46] Advantages of replacing rent checks / money orders with online payment system
[30:02] Dealing with maintenance issues on a 17 unit apartment complex
[35:13] Discussion of cap rates
[41:18] How does John classify the apartment market in Fort Meyers relative to Tampa and St. Petersburg?
[43:49] What advice would John give himself back in 2009 when he first started?
[49:25] Concluding remarks by Eric and Steven

 

About Our Guest

John Wilson is CEO of the Florida Property Group. He owns income properties — primarily multi-family and commercial and is also getting into lending for house flippers. Before John started investing in real estate, he had a long corporate career with Fortune 100 companies and was a VP of sales of a publishing company.

Investor Resources

Contact John Wilson
Phone: 941-545-0360

 

Ep. 177 David Beshears: Market Update on Multifamily & Other Asset Classes

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Market Update on Multifamily & Other Asset Classes

David Beshears has been involved in the commercial real estate industry for over 30 years and shares some great perspectives on the four asset classes of commercial real estate, with a focus on the multifamily market.

David breaks up his discussion into the following four areas:

  • Florida population growth projections with focus on I-4 Corridor
  • Industrial market
  • Retail and office market (with a quick discussion on self storage)
  • Multifamily market

Join us for this episode to learn why David sees a positive outlook for those interested in investing in the multifamily market.

“I think we are going to continue to see a tremendous demand for apartments and multifamily housing.”
– David Beshears

 

TIMELINE of KEY DISCUSSION POINTS

[07:05] Florida population growth projections with focus on I-4 Corridor
[18:57] Industrial market
[22:51] Retail and office market (with a quick discussion on self storage)
[36:29] Multifamily market

 

About Our Guest

David Beshears has been involved in the commercial real estate industry for over 30 years. He started Beshears & Associates, a commercial real estate valuation practice, in 1994.

Over the past 25 years, his firm has appraised over 10,000 commercial properties throughout Florida and the United States.

He’s a member of the Appraisal Institute, and a member of the Royal Institute of Chartered Surveyors. He’s also a licensed real estate broker, and a Florida State-Certified General Appraiser in Florida, Georgia, and Alabama.

Investor Resources

You can get in touch with David Beshears via his website at http://www.beshears.net.

Ep. 170 Eddie Lorin: Carving Out Your Niche in the Affordable Multifamily Market

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The Affordable Housing Dilemma

More than any other property class, affordable housing is considered the white whale (or perhaps black sheep) for real estate investors. Despite the dire need for affordable housing in the marketplace, a strategy for developing affordable multifamily that meets suitable returns continues to elude investors.

While the trend towards luxury, A-class continues, many industry insiders say we are nearing the ceiling for sustainable luxury multifamily. Meanwhile, there remains no shortage in the demand for affordable workforce housing.

‘Taking Blight and Making Light’

When it comes to affordable housing, the biggest deterrent for multifamily developers is the perceived lack of sufficient returns to make it a worthwhile investor. The majority of the affordable housing market is comprised over older, B and C property classes in often overlooked areas leading many multifamily developers to believe that the returns aren’t there.

However there are some key points about the affordable multifamily market that developers overlook:

  • Workforce housing consumers are often long-term tenants, ensuring steady returns
  • Older, low-cost properties are ripe with value-add potential

The need for affordable housing isn’t going away. If you are willing to put in the effort, deals are out there. With the right tools and resources, you can carve out your own niche in the affordable multifamily market

About our Guest

affordable multifamilyEddie Lorin is the Founder of Strategic Realty Holdings. Through his philosophy of impact investing, Eddie has purchased and transformed over $3 billion multifamily real estate establishing 180 communities and providing 40 thousand units to the affordable multifamily market.

Coming from a diverse real estate background, Eddie has made it his life’s mission to address affordable housing concerns.

This episode, Eddie shares his investment philosophy and how it led him to the affordable multifamily market. He shares how he was able to carve out a niche to meet a badly needed demand and offer tips for investors interested in affordable housing investing.

You do not want to miss this episode on carving out your niche in the affordable multifamily market!

Ep. 166 David Childers: Why This Multifamily Investor is Bullish on Pensacola

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Multifamily markets are tightening up. Across Florida’s major markets, investors are having to adopt creative strategies to get a competitive edge on finding deals. The same is true in other multifamily markets throughout the country. Some investors are finding luck stepping outside their comfort zone. By expanding into adjacent markets and sub-markets that show potential, you may be able to tap into an overlooked investment opportunity.

That’s exactly what our guest this week decided to do.

David Childers is a multifamily investor based out of Nashville, TN. Finding a need to expand his investment reach outside of Nashville, David started looking at tertiary markets in which to venture. His search ended up bringing him to Pensacola, FL. David found the location and proximity to his home-base and promising economic strength of Pensacola an ideal climate for his next venture.

You won’t want to miss this episode on the Pensacola multifamily market!

About Our Guest

Pensacola multifamily

David has been involved in real estate investing for the past 15 years. After stumbling into the world of multifamily investing and property management with his first duplex at the age of 25, David has continued to grow his portfolio through a focused strategy to become one of the leading figures in Middle Tennessee’s multifamily market. In addition to actively expanding his portfolio, David is also a licensed real estate broker and Managing Member of Cedar Rock Capital.

Contact David

David is currently looking for accredited investors and brokers to source and partner on C + B/B- multifamily assets in Pensacola and throughout North Florida. If you are interested in working with David or have additional questions about his strategy you can reach him directly at:

dave@ria-inc.com or 615-479-8737

Ep. 164 Brian Alford: Your Multifamily Market Outlook for the I-4 Corridor

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Florida’s I-4 corridor has long been a hot-spot for investors. As a main commercial artery connecting the state’s east and west coasts, the area has served as fertile ground for investors of several asset classes. Now, thanks to explosive job and population growth in several metro areas, the I-4 corridor’s multifamily market has been booming.

I-4 Corridor Multifamily Market Outlook

  • The I-4 corridor’s major metro areas are experiencing intense growth
    • Tampa & Orlando
      • Lakeland, Lake Mary/Sanford (Sub-markets)
    • $1.24-$1.26/sf across all asset classes (30% increase in pre-recession rates)
  • Rental demand outpacing construction and inventory
    • Vacancies compressing
    • Markets primed for B + C-class rental drivers
  • Institutional investor activity increasing

5-Year Forecast

  • Expect to stop start seeing decrease in new home starts
  • Rental demand not likely to drop-off
  • Metro area growth metrics should slow, but due to sustained market demand will maintain an equilibrium state

About Our Guest

multifamily marketThis episode, we are honored to have Brian Alford join us to discuss this multifamily market outlook for the I-4 corridor. As a Market Economist for CoStar, Brian specializes in providing on-the-ground analysis for the Central Florida region, including the I-4 corridor’s major metro areas and sub-markets.

Brian brings with him nearly 15 years of experience as a financial analyst having worked with commercial real estate through a variety of asset classes.

If you are interested in getting a more detailed outlook on the I-4 corridor’s multifamily market, or you have additional questions regarding the Central Florida region, fell free to reach out to Brian directly. Additionally, you can find much of Brian’s published content online or by visiting costar.com.

 

 

Ep. 162 Jimmy Clark: Lawfare – 3 Potential Insurance Pitfalls You Need to Address in Your Lease

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As a landlord or property manager, you’ve got a lot of responsibility. From leasing to maintenance, there are a lot of potential risk factors you need to mitigate. One way that you might find yourself in hot water as a landlord is in regards to how insurance issues are addressed in your lease.

When it comes to leasing, it is typical that both you and your tenants will each be held to specific responsibilities and duties. However, there is an additional oneness on your as a landlord to make sure these responsibilities are addressed correctly in your lease. Otherwise, you may be left holding the bag should an issue arise.

This episode, we take a look at some common insurance pitfalls that often go unaddressed until they become an issue.

3 Potential Insurance Pitfalls

Renters Policy – Many multifamily + single family leases require tenants to have renter’s insurance. While this can be a good idea, it can often be poorly executed in the lease. Negligence in enforcing renters insurance often falls on the property manager and/or landlord for not ensuring the tenant does not have valid insurance.

Rent Abatement – If your tenant is granted rent abatement following a casualty at the property, when can you expect to get reimbursed for loss of revenue from this lost rent?

Tenant Improvements - If you are installing tenant improvements, insure it yourself. Leaving insurance on tenant improvements solely to the tenant can open you up to unnecessary risks: preclusive clauses, co-insurance provisions, exclusions, etc.

About Our Guest:

ada compliance, lease insuranceJimmy Clark is the Senior Vice President and Real Estate Practice Group Leader at Harden, one of the southeast’s largest risk management and insurance firms.

This episode, Jimmy offers up three essential tips all landlords need to know about leases. He shares the common insurance pitfalls that you need to make sure are addressed with your tenant(s) when drawing up your leases.

If you want more information on common insurance pitfalls when it comes to your real estate investment, you can contact Jimmy directly at jclark@hardeninsight.com or 813-367-5609

Don’t miss this episode on protecting your lease from common insurance pitfalls!