Category Archives: market report

Ep. 158 Leslie Plettner & Jack Boyajian: What Landlords Need to Know About Florida’s Medical Marijuana Industry

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Legalized cannabis is here to stay.

Despite the federal government’s unchanged stance, there has been a recent wave of states pushing for some form of legalized cannabis whether it be medicinal or recreational. With Amendment 2, Florida joined the ranks of other states that have adopted some form of a legitimate cannabis industry.

However since Florida voters passed medical marijuana into effect, there has been some uncertainty as the move faced moral and legal push-back from some business owners and municipalities. Real estate investors and landlords have been faced with some of the more difficult questions regarding the legitimacy of the medical marijuana industry.

Like any burgeoning industry, the market will face some growing pains. But turning away from medical marijuana in its earliest stages may be short-sighted. Medical marijuana and retail cannabis tenants already have demonstrable value; the investment potential is there. Education and understanding can go a long way in bringing you to the forefront of this emerging marketplace.

Leasing to Medical Marijuana Tenants

  • Zoning
  • “Sin Clauses”
  • Tenant Licensing

About Our Guests

legal cannbis Leslie Plettner is the Managing Director of BaseCanna. A lifetime entrepreneur, Leslie’s real estate journey started with designing and transforming under-performing schools before transitioning into a more robust role in real estate development. In 2015, Leslie set her entrepreneurial sights on California’s emerging cannabis market.

 

medical marijuanaJack Boyajian is the CEO of BaseCanna. Having handled over $3 billion in the development, management and conversion convert residential and commercial real estate, Jack focused his interests on the value of the legal cannabis industry after witnessing the demonstrated positive effects of medical marijuana.

BaseCanna offers comprehensive, turnkey real estate solutions as well as operational guidance for tenants involved in medical marijuana or retail cannabis. BaseCanna can help match landlords with licensed, qualified tenants.

If you have more questions about leasing to a cannabis tenant or just questions about Florida’s medical marijuana industry, visit their website.

 

 

Ep. 157 Scott Meyers: A Look at Florida’s Self-Storage Investment Market

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When you think about branching your investment strategy into a new real estate asset type, what usually comes to mind?

A transition into multifamily or commercial investing probably seems like the most likely course. But while multifamily gets the most time in the spotlight as the typical path for investors looking to scale their portfolio, you may find it a difficult market to break into. As popular markets like multifamily heat up, competition is becoming more fierce. However, there may be assets types that can offer equally lucrative investment opportunities that you have overlooked.

Florida’s Self-Storage Market

One such asset type that has quietly been growing into a dominant market in Florida’s real estate investing industry is self-storage. As rental demand rises, especially around dense urban centers like Orlando, Jacksonville, Tampa and Miami, the need for self-storage has been seeing parallel growth.

This is great news for investors as the demand for available storage space exists and it requires — relatively — less intensive management than traditional asset types.

This episode, we’re joined by investor and educator, Scott Meyers, as we discuss the current state of Florida’s self-storage investment market. A veteran investor, Scott was still focusing on traditional asset types when he discovered the investment potential of self-storage. Since then, he has not looked back.

Scott is particularly bullish on Florida’s self-storage market and has an active presence throughout the state.

About Our Guest

self-storage investingFor a self-storage discussion, we couldn’t have asked for a better guest than Scott. Scott has years of experience in the acquisition, development and syndication of self-storage properties.

As the Founder and President of SelfStorageInvesting.com, Scott has created a comprehensive platform for investors to learn about and engage in the self-storage market.

 

Ep. 156 Neal Bawa: A Data-driven Investment Strategy Can Bring You Stable Returns

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Real estate markets across the board are tightening. In Florida especially, investors are finding not only more competition in major asset types, but also increased demand for construction materials and labor.

If you’re a multifamily investor, you’ve probably been feeling some considerable pressure affecting your investment growth. If you’re finding that your current investment strategy is no longer working for you, it may be time to consider a change.

A Data-driven Investment Strategy

Now more than ever, it’s becoming essential to delve into the data and metrics of real estate investing if you want to find a good deal. While digging into numbers may not be everyone’s idea of a good time, a data-driven approach to your investment strategy can give you an edge over market conditions.

You don’t need to be a Poindexter to factor data metrics into your investment strategy either. It’s more about being aware of — and understanding — how these external factors directly affect real estate. Tailoring your investment strategy with these in mind

About Our Guest

investment strategyNeal Bawa is a real estate investor and educator. His path to multifamily investing is unique in that he did not begin as a traditional investor. With a background in finance, Neal was working for a tech company when he was tasked with overseeing the build-out and development of a new corporate campus.

After converting another commercial development into office condos, Neal fell in love with multi-tenant real estate investing. Neal was able to apply his data-driven approach to multifamily investing and has since grown to be a considerable force in multifamily acquisitions and management.

Neal is the President and COO of Financial Attunement as well as the CEO and Founder of Multifamily U.

 

 

 

Ep. 155 Rick Melero: Flexible Investment Strategies Can Help You Keep Ahead of the Real Estate Cycle

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You don’t need to be an expert to know that the current real estate market cycle is winding down. As popular asset classes and sub-markets become more competitive, you may be finding your current investment strategies are not earning the returns you’d like. As we continue to feel the effects of a contracting market, you may be wondering what you can do as an investor to increase your earnings and ensure a successful strategy that can adapt with a changing cycle.

The good news is that real estate is a robust and varied industry. There’s more than one way you can earn money through real estate investing and there are creative, flexible investment strategies that you can develop to keep a strong portfolio even through market downturns.

Our guest this week discusses the power of flexible investment strategies as well and offers up a market overview for Florida’s I-4 corridor. We learn that, with an open mind and a will to adapt, there are still tons of opportunities open to investors!

You don’t want to miss this episode on building flexible investment strategies to keep you ahead of the real estate cycle!

About Our Guest:

real estate investment strategiesRick Melero is the Co-Founder and Principal of HIS Capital Group, a comprehensive real estate investment and lending group. Rick has assisted in the acquisition and restructuring of over $500 million in assets internationally.

Rick has worn many hats as a real estate investor. Early on, he realized there was a lot more to real estate investing than just wholesaling and single-family flips. Since then he’s gained experience across a variety of asset types and developed a unique insight into developing successful strategies.

 

Ep. 154 Frank Rygiel: These Construction Market Factors Are Affecting Your Real Estate Project

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So you’ve got all the fine details of your next real estate project or development squared away; from the planning stages to financing you’ve worked it all out. Now comes the easy part – building it…right?

While breaking ground on a development (commercial or residential) signals a final stage of the project for many investors, it does not mean your due diligence should end. In fact, there are several important things to consider when you actually start developing your property. You need to be aware of current construction market factors that could affect your project in a variety of ways. Neglecting these factors could mean the difference between a successful investment and a hard lesson learned.

Construction is a lot like real estate itself in that you need to understand that it does go through market cycles. The construction market is affected by both global and local factors that you need to track.

Construction Market Factors Affecting Your Real Estate Project

  • Increase in demand > construction labor supply
    • Shortage in skilled labor
  • Material escalations
    • Commodities price hikes via tariffs: 25% on imported steel, 10% on imported aluminum (with certain exemptions)
    • Domestic producers can’t keep up with demand
    • Seeing price hikes in metal and lumber across the board; concrete and masonry are more market-driven

About our Guest

construction market factorsFrank Rygiel is the Vice President and General Manager of Walbridge Construction‘s Florida division. Walbridge has been involved in Florida’s construction market for over 30 years. With offices in Tampa and Orlando they are active in and around the I-4 corridor and throughout the rest of the state.

As an active industry leader, Frank has managed numerous large-scale commercial projects in various asset classes. His experience spans a range of developments including educational facilities, corporate campuses, hospitals, aviation facilities and high-rises.

Contact Frank

frygiel@walbridge.com

 

Ep. 153 John Schaub: Earning Long Term Cashflow Through Single Family Tenants

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When you’re a single-family real estate investor, there comes a time when you need to start thinking about scaling your investing. The question at that point is whether to scale through a transition to other asset classes or continue to scale through single-family investments. While some investors find commercial and multifamily assets to jibe with their investment strategy, you may find that you can still build your SFR portfolio while earning long term cashflow through single family tenants.

Single family properties may not seem like the most direct path to your investment goals, but an investment strategy focused on earning cashflow through long term single tenants can prove to be successful.

Earning Long Term Cashflow Through Single Family Tenants

single family tenantsJust ask John Schaub. John is an active single family investor, landlord and author in Sarasota, FL. 

Getting his start in real estate as a broker, John initially subscribed to the notion that – in order to generate true wealth as a real estate investor – he would have to invest in commercial and multifamily properties. However, he soon found that these types of properties demanded a lot more work to maintain cashflow.

This episode, John talks the merit of single family properties as a way to earn long term cashflow. He discusses how stable, long term single family tenants can offer a (relatively) stress-free investment strategy.

Contact John

If you have more questions about how you can build cashflow through single family tenants, check out John’s book: Building Wealth One House at a Time.

If you have a potential deal you’d like to share with John, contact him directly through his website at johnschaub.com

 

 

 

 

 

Ep. 152 Casey Siggins: Your 2018 Real Estate Lending Outlook

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February marked this year’s Mortgage Bankers Association Conference & Expo. The annual summit serves as a chance for those involved in the real estate lending industry to discuss trends, market cycles and forecast conditions.

Trying to make sense of the real estate lending market?

For the uninitiated investor trying to make sense of real estate lending and financing options, it came seem like a lot to take on. There are a lot of factors that play into the overall conditions of the real estate lending market. The MBA conference is a great way for you to get a gauge on current lending conditions and alternative financing options as well as an idea of what you can expect to see coming down the road via legislative and regulatory changes.

If you can’t attend these conference, that’s okay! Each year, we talk with an industry insider who attended the conference to bring you key takeaways and insights into the world of real estate lending.

This episode, we talk with Casey Siggins, a loan origination expert with Franklin Street specializing in real estate debt and equity. Casey gives us his takeaway from the conference and we discuss what’s going on with the big players: agency debt, CMBS, and bank loans. We also talk alternative financing and lending options as well as construction loans.

Don’t miss this episode for your real estate lending outlook!

About Our Guest:

real estate lendingCasey Siggins is the Director of Loan Origination with Franklin Street Capital Advisors. Casey specializes in the origination of debt and equity for all income-producing properties. Previously a Senior Analyst with Franklin Street, Casey assisted in the transactions of more than $200 million in assets. Casey is actively involved with the Tampa Bay real estate investing community.

You can reach Casey directly at casey.siggins@FranklinST.com or by calling his office at (813) 397-1638. You can find out more about services offered by Franklin Street through their website.

 Resources

 

 

 

Ep. 143 Kris Chana: Multifamily Investing with a Twist – The Untapped Potential of Assisted Living Facilities

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assisted living facilitiesWhat do you think of when you hear the term “assisted living facility”? Most of you are probably picturing nursing homes, with orderlies and nurses and fully-equipped medical wards… probably something that most real estate investors would consider too much to take on.

However, assisted living facilities and senior care complexes tend to get a bad rap, especially considering the incredible investment potential they hold. Instead of thinking about assisted living facilities as old-folks’ homes or nursing homes, investors should look at these facilities as what they really are: multifamily investment opportunities.

Kris Chana is a an assisted living facility investor who brings a unique look at how multifamily investing strategies can be applied to this often over-looked asset class. Kris, along with his wife, Chelsea Chana, are the owners and operators of Chelsea Place Senior Care in Charlotte County, FL, Kris understands the potential for returns on senior care facilities. In addition to a full-time assisted living facility, Kris and Chelsea also own and operate a senior daycare facility. They are pioneers in applying traditional, multifamily investing concepts to senior living and this episode, Kris will be sharing their story along with tips on how investors can get involved in this unique and largely untapped asset class.

Find out about the untapped investment potential for Assisted Living Facilities!

  • Not just an asset class for institutional investors
    • Roughly 70% of ALFs are individually owned and operated
  • Not nursing homes
    • Does not require major medical component
    • ALFs are largely private-pay
    • More hospitality-driven than medically-driven
  • Multifamily… with additional services
  • Large demand for assisted living facilities through incoming baby-boomer generation

Strong ALF Markets in Florida

  • Sarasota County

Contact Kris

By email: kris@chelseaplaceliving.com

Phone: (941) 883-6600

Web: https://chelseaplacecare.com/

 

Ep. 141 Brian Bailey: A Federal Reserve Commercial Real Estate Expert’s Outlook on Florida

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As part of the Federal Reserve’s wide scope of responsibility and oversight, the eight regional branches are tasked with monitoring residential and commercial real estate markets; tracking trends and data in order to more accurately adjust to market fluctuations affecting the economy. These studies provide hard data for the Fed to make economic adjustments, but they can also be a great gauge for real estate investors. Any successful investor will tell you that the ability to forecast changes in the real estate cycle is vital. As much as knowing your market and asset class, an awareness of other economic factors is important for mitigating investment risk.

The Federal Reserve Bank of Atlanta serves as the central bank’s regional authority for the southeast. It tracks real estate markets for the region, including Florida and offers comparisons on a national scale. Our guest this week is a commercial real estate expert with the Fed’s Atlanta branch.

Florida commercial real estate outlookBrian Bailey is a Senior Technical Expert in the Supervision and Regulation Division of the Federal Reserve Bank of Atlanta. Specializing in commercial real estate, Brian tracks and analyzes emerging trends in the southeastern region and provides thought leadership on commercial real estate and guidance for the central bank.

Brian brings a diverse background in commercial real estate finance and acquisitions to the Fed. He has over 15 years of experience in commercial real estate finance, having managed financing for millions of square feet in real estate holdings for several large-scale equity and development firms. Brian received an MBA with concentrations in Real Estate and Finance from the University of Florida and has earned a CCIM designation.

You won’t want to miss this commercial real estate outlook on Florida!

 

 

 

Ep. 140 Courtney Barnard: Top 3 Legislative Issues Affecting Multifamily Investors for 2018

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While investors prefer real estate over other assets and securities due to its relative stability, it’s not without fluctuations of its own. Real estate is affected by a number of external forces, from the economy to local, state and federal legislation. What sets fluctuations in real estate apart from other investment classes is it’s general predictability; hardly anything happens out of nowhere in real estate. Most factors affecting real estate can be accurately tracked and anticipated. Investors who can keep ahead of these changes are able to mitigate much more risk in their investment.

Legislation is one of the most important factors affecting real estate investors. It affects everyone down to the local level and is able to affect every facet of real estate investing from financing to construction. With so much to keep track of, staying on top of current legislation may seem intimidating, but there are tools and resources available to assist you. For Florida multifamily investors, that’s our guest for this week!

legislative updates affecting multifamily investorsCourtney Barnard is a returning guest to the show and we’re so glad to have her back. Courtney is the Government Affairs Director for the Florida Apartment Association (FAA), the statewide chapter of the National Apartment Association (NAA).

The NAA/FAA serves as the primary advocate for residential multifamily investors and apartment owners. Not only does it represent apartment owners in front of lawmakers, it also provides education and support for investors. As Government Affairs Director, it’s Courtney’s job to track all national and statewide legislation affecting multifamily residential real estate and relay it to investors. Each year, Courtney provides an annual legislative update on key legislation that directly affects the residential multifamily industry.

Find out the Top 3 Legislative Issues affecting multifamily investors in 2018!