Category Archives: Multi-Family

Ep. 268 Doug Faron: Overview of the Florida Market & Discussion of Build to Rent Investing

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Overview of the Florida Market & Discussion of Build to Rent Investing

Doug Faron is a seasoned real estate investor who KNOWS the State of Florida. Through his firm, Shoreham Capital, Doug engages in building residential properties to rent. He discusses how it is easier to reach critical mass with build to rent as opposed to sourcing one-off deals and spends a lot of time discussing the Florida market…where he likes and what he looks for. 

Key Discussion Points
[01:20] Introduction by Eric & Steven
[10:20] About our guest: Doug Faron
[11:32] How did you get into this side of the business? And what’s your vision?
[14:30] Which areas were you focusing on doing your “build to rent”?
[15:31] What led you to focus on residential?
[21:05] What are you seeing in the residential market with regard to rent / prices? And where do you see the future headed?
[25:12] What market conditions are you seeing in south Florida? What about with office / commercial?
[31:23] Re: the “build to rent”, when you develop, how do you determine your holding period before you sell?
[35:43] Which areas of Florida do you like? And what areas are you a little uncomfortable with right now?
[37:19] Do you see any reprieve on constructions costs?
[42:08] What is your capital stack looking like right now?
[45:13] How can folks reach you?
[47:30] What’s the cost per “door” for single and multifamily home?
[49:51] Closing comments by Eric & Steven

 

About our Guest: Doug Faron

Doug Faron: Overview of the Florida Market & Discussion of Build to Rent Investing

Doug Faron is a co-founder and managing partner at Shoreham Capital. He is a real estate leader and skilled dealmaker specializing sourcing, capitalizing, structuring, and executing debt and equity transactions throughout the United States. Doug oversees all aspects of his firm including the acquisition, capitalization, development, and management of their projects.

Doug graduated from Brown University with a dual concentration in international relations and economics and received his MBA from Northwestern University’s Kellogg School of Management. He lives in Palm Beach, Florida with his wife and two children.

GUEST CONTACT INFO
Email: doug@ShorehamCapital.com

Ep. 263 Hank Balevic: Importance of Background Checks on Tenants and Potential Investment Partners

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Importance of Background Checks on Tenants and Potential Investment Partners

Hank Balevic is a former FBI Special Agent and Director of Corporate Security. His lifetime experience deal with security gives him a unique perspective for his current company, running background checks and due diligence on tenants and potential investment partners. The arena is a landmine for investors and Hank walks through and discusses the potential issues all investors need to know to stay out of hot water.

Key Discussion Points

[01:22] Introduction by Eric & Steven
[07:02] About our guest: Hank Balevic
[11:36] How do background check companies sometimes miss criminal backgrounds?
[17:42] What’s the best type of background search to do?
[21:46] What are pitfalls of the Fair Credit Act? And what are your thoughts on the cheap background checks?
[25:15] How should apartment landlords properly handle their screenings?
[27:07] What is the average time it takes for a proper background check?
[27:44] Do you come across errors on credit reporting? And if so, what steps do you take to help mitigate that?
[30:40] From a multi-family owner perspecitve, what do you charge for a standard tenant background check?
[36:51] How can people reach you?
[38:36] Closing comments by Eric & Steven


About our Guest

 HankBalevicAs a former FBI Agent and Director of Security for two corporations, Hank brings over 25 years experience to Fidelity Data Service. While with the FBI he handled hundreds of background investigations including over one hundred SPIN (Special Presidential Inquiries), investigating officials for high government positions including cabinet posts. He also investigated fraud and embezzlement schemes involving banks, insurance companies, automobile and heavy equipment dealerships.

Hank is a board member of a Condominium Association and a Home Owners Association, as well as being a Licensed Community Association Manager (LCAM). As a Board member, he saw the need for effective background screening techniques in order to lessen vandalism, theft, assaults, misconduct and substance abuse. To that end, he founded Fidelity Data Service.

GUEST CONTACT INFO

Website: fidelitydataservice.com
Phone: 561-371-3324

Ep. 257 Beau Beery: Talking Multifamily in N Florida & How to Make Sure You Have Access to Deals

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Talking Multifamily in N Florida

Beau is a multifamily broker covering North Florida. He is one of the best known apartment advisors in the State. He gives us a rundown of the market and why investors don’t see all the good deals.

Key Discussion Points

[01:15] Introduction by Eric & Steven
[05:41] About our guest: Beau Beery
[06:36] How did you get into the real estate business, and specifically in multifamily?
[10:16] How can people find deals in the multifamily market?
[15:06] What’s your advice for newer investors trying to find the right broker like yourself?
[26:03] How do you avoid bogus retrading tactics? (i.e. trying to muscle the seller into significantly shaving the contracted sale price right before the sale)
[30:06] Tell us about how to do market analytics
[35:45] With the current inflationary environment, what do you see in the multifamily market right now, and what do you see happening over the next 18 months?
[39:38] Do you think the Fed is going too far with raising interest rates?
[43:20] How can people reach you?
[45:14] Closing comments by Eric & Steven


About our Guest

Ep. 257 Beau Beery: Talking Multifamily in N FloridaToday we have with us Beau Beery. He’s been in the commercial real estate business in Florida since 1999. He earned a bachelor’s degree in marketing and a masters of science degree in real estate from the University of Florida. Beau is a commercial realtor, and he has been consistently ranked as the number one multifamily producer in Florida for Coldwell Banker.
Beau is regularly asked to speak at industry conferences and to private companies. He has a YouTube channel where he guides viewers on how to buy more family assets, how to sell them and how to conduct market analysis.

GUEST CONTACT INFO

Website: beaubeery.com
YouTube: https://www.youtube.com/c/BeauKnowsMultifamily
Amazon: book – Multifamily Investors Who Dominate (https://a.co/d/54iwxxq)

 

Ep. 249 Avery Jordan: Update on the Multifamily Market

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Avery Jordan: Update on the Multifamily Market

Avery Jordan gives us an update on the apartment / multifamily market in Tampa and central Florida with discussions on how the Fed rate hikes will affect the market over the next couple of years and why he thinks the multifamily market and the market in general will continue to do well.

Key Discussion Points

[01:07] Introduction by Eric & Steven
[04:32] About our guest: Avery Jordan
[05:51] How did you get intro brokerage of apartment buildings in the area?
[08:07] Give us your perspective on the multifamily market over the last 6 years
[10:39] How is the Fed’s rate hike affecting the debt side?
[12:53] What is SOFR (Secured Overnight Funds Rate) and it’s significance?
[14:53] What are the conversations you’ve been having around timing of putting things on the market?
[17:27] Who are some of the larger bridge lender players in the area of financing?
[19:04] Renters are now paying close to 50% of take-home pay – is this sustainable?
[21:00] Do you also deal in the development market?
[23:23] Steven’s and Avery’s persepctive on why the multifamily market has done so well
[26:31] How have you seen underwriting change over the last few years
[31:40] From your conversations and polls, what is keeping investors awake at night?
[33:15] How can folks reach you?
[33:39] Closing comments by Eric & Steven

 

About our Guests

Ep. 249 Avery Jordan: Update on the Tampa Multifamily Market
 Avery Jordan is a senior director for Franklin Street. He’s a broker specializing in multi-family properties in central Florida and across Tampa Bay.
Avery was born and raised in Tampa, and he enjoys extensive relationships with apartment owners locally and throughout Florida. He has boots on the ground, and perfectly positioned to give us a feel of whats going on in the apartment market.
Avery went to the University of Florida where he received a Bachelor’s in Business Administration.


GUEST CONTACT INFO

Email: avery.jordan@franklinst.com
Phone (direct line): 813-577-3826

Ep. 247 Jeremy Kloter: Update on the Tampa Bay Area Residential Market

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Update on the Tampa Bay Area Residential Market

Jeremy Kloter, founder of Out Fast Property Management in Tampa, FL, gives us a window in to the Tampa Bay residential investment market.

Key Discussion Points

[01:01] Introduction by Eric & Steven
[02:54] About our guest: Jeremy Kloter
[04:46] How are you surviving in the market now, and what is your perspective?
[06:49] How are people dealing with this hyper-active market?
[16:33] What CAP rates are you seeing now?
[23:29] How do you see the market evolving, and what should investors be doing?
[37:17] Any last “golden nuggets” you can share on your thoughts about the greater Tampa Bay market?
[39:04] Are you seeing a slowing of heavy cash purchase?
[40:37] How can folks reach you?
[41:24] Closing comments by Eric & Steven

About our Guest
 KloterJeremy1269101
Jeremy Kloter is a marine corps veteran turned broker. He is the founder of Out Fast Property Management, a Tampa Bay property management company that manages residential and multi-family properties. Jeremy has been an investor since 2013. He has been recognized in the Florida Realtor magazine, and he’s a trainer for the Landlord Property Management Academy.


GUEST CONTACT INFO

Facebook / LinkedIn: Jeremy Kloter
Cell: 813-610-0015

Ep. 235 Sam Bates: Multifamily Syndication

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Multifamily Syndication

On today’s podcast we talk with Sam Bates (CEO of Bates Capital Group) about his success in multifamily syndication. Sam left Corporate America and started his real estate journey in 2009. He walks us through how he first got into real estate, and the path and strategies he employed to get to where he is today. He also gives advice to investors interested in multifamily syndication.

Sam’s mission is to help busy professionals like himself gain their freedom back through investing in high-quality real estate investments.

Key Discussion Points
[00:59] Opening remarks by Eric Odum & Steven Silverman
[03:48] About our guest: Sam Bates
[05:27] How did you get into commercial / multifamily real estate?
[08:51] What was your first deal?
[10:22] Tell us about the structure of your deals
[12:51] How do you manage the back-end of the syndication? Use another company? A software tool?
[14:11] How do you deal with investors who want out of a syndication deal?
[15:08] Tell us about how you’ve expanded your geographic reach
[17:26] What attracted you to purchase a property in Sanford, FL? And what other areas in FL interest you?
[20:17] How do you find your deals? Broker relationships? Send out letters?
[21:42] How do you get the best value when selling a property? Go through brokerage?
[22:56] How do you find your investors?
[26:13] What do you look for in a deal?
[28:51] How can folks reach you?
[29:21] Any last words of advice for Florida real estate investors?
[43:20] Closing comments by Eric & Steven

 

About our Guest

Sam_BatesSam Bates is the founder and CEO of Bates Capital Group and co-founder and managing partner of Trinity Capital Group. Sam started his real estate journey in 2009 and has been directly involved in the acquisition, reposition, disposition, and asset management of over $100,000,000 in AUM. His portfolio currently has 749 units in Texas, Mississippi, and Georgia. Sam and his partners have roughly another 250 units in the pipeline to be developed.Sam has a Bachelor of Science degree from Texas A&M University in Finance, an MS in Personal Financial Planning, and an MBA from Texas Tech University. Sam is an avid sports fan, skier, and loves to the reader.

 

CONTACT INFO

Most social media platforms

Ep. 233 Vehano Joseph: Multifamily Investing

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Multifamily Investing

The multifamily market is hot everywhere, but especially in Florida, and it can be difficult to find good deals with the current cap rate situation and fierce competition. Today we talk with Vehano Joseph about his strategies to finding good multifamily deals in Florida.

Key Discussion Points

[00:58] Opening remarks by Eric Odum & Steven Silverman
[03:38] About our guest: Vehano Joseph
[05:40] What’s your background and how did you get into real estate?
[10:26] What do you look for in acquiring a property?
[12:46] What parts of Florida do you like and dislike for real estate?
[17:14] What cap rates are you seeing that enable you to acquire properties?
[19:24] Tell us about your syndication deals, and any tips you can provide
[21:08] Where do you investors come from? Mostly U.S.?
[22:06] Do you farm out your property management?
[23:44] Moving forward, is your strategy to go into more of the urban tupe environments?
[25:08] Do you investors invest in the portfolio or in individual assets?
[26:15] Are you utilizing brokers?
[28:20] How do you get brokers to pay attention to you?
[33:26] How can folks reach you?
[35:05] Closing comments by Eric & Steven

About our Guest

Vehano

Vehano Joseph is the Chief Executive Officer and Co-founder of Dreamstone Investments, a rapidly growing multifamily investment firm with bases in Atlanta and Tampa.

Vehano and his team specialize in adding value to properties by putting “the Dreamstone touch” on unit interiors and exteriors, adding functional and aesthetic features that ensure value for investors while also creating appealing, affordable, family-friendly spaces that attract and retain residents over time. Under his leadership, Dreamstone has moved from emerging to an established player in the multifamily space.

 

CONTACT INFO

Also check out FB, LinkedIn, and Instagram

EP. 221 Charles Carillo: Multifamily Investing & Syndication

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Multifamily Investing & Syndication

Today we talk with Charles Carillo, founder and managing partner of Harborside Partners Inc., about all things multifamily. This episode is packed with great information that both new and seasoned real estate investors will appreciate such as pitfalls to avoid when investing, advice for new multifamily investors, cap rates, and what the future holds for multifamily real estate. You won’t want to miss this episode!

Key Discussion Points

[01:04] Opening remarks by Eric Odum and Steven Silverman
[03:51] About our guest: Charles Carillo
[04:22] Give us an overview of how and why you got into multifamily
[06:43] What are you seeing in Florida (such as cap rates) that might be affecting the market now and going foward?
[09:32] What cap rates are you seeing that people are willing to pay?
[13:38] What are some pitfals to avoid and advice for new multifamily investors?
[17:31] How do you manage your maintenance issues at your properties?
[26:48] For those thinking about investing in real estate, how can you help each other?
[28:40] How do you deal with debt? Traditional bank? Agency debt?
[30:38] How are you finding / sourcing your deals?
[33:23] What are you currently working on (i.e with investors, etc…)
[36:41] How can folks contact you?
[37:46] Closing comments by Eric & Steven

 

About our Guest

Carillo_v2
Charles Carillo is the founder and managing partner of Harborside Partners Inc., a real estate syndication firm based in St. Petersburg, FL. Charles has been actively investing in multifamily real estate since 2006. He also hosts the Global Investors Podcast, where he interviews professionals about investing in U.S. real estate.

 

CONTACT INFO

Website: schedulecharles.com
Note: All social media contact links are on schedulecharles.com

EP. 219 Andrew LaSalla II: Multifamily Construction Loans

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Multifamily Construction Loans

Even before the COVID crisis, Florida had a strong natural growth which has driven up real estate prices. Now during COVID, that growth is intensifying as people are fleeing intensely populated metropolitan areas from other states and flocking to Florida. Financing is therefore, playing a more and more important role, and with current rates so low, we can expect a lot of new construction to fill the demand.

Today we talk with Andrew LaSalla II, Principal with LSG Lending Advisors, about the process for someone to move forward on a multifamily construction deal, specifically the HUD 221(d)(4) new construction & substantial rehabilitation loan for multifamily properties.

Key Discussion Points

[01:05] Opening remarks by Eric Odum and Steven Silverman
[05:00] About our guest: Andrew LaSalla II
[05:54] Give us an overview of what’s going on in the agency market right now
[07:21] What is the criteria to do one of these loans?
[08:38] What does the structure of the HUD 221 (d)(4) loan look like?
[09:36] What is the timeframe for these loan deals?
[10:04] How should people best position themselves to get one of these HUD construction loans?
[12:40] For a standard $15M loan on a multifamily investment, what does that structure look like (Fannie or Freddie)
[15:17] At what stage should someone get involved with you when they’re looking to finance?
[16:28] How can folks contact you if they want to refinance or get inolved with new construction?
[17:39] Closing comments by Eric & Steven

 

About our Guest

AndyLaSalla_2018A
Andrew LaSalla II is a Principal at LSG Lending Advisors.  Andrew guides clients in navigating the loan process in a simple, transparent manner, so that the loans close at the lowest rates and the best terms.

 

CONTACT INFO

Cell:  216-645-9816
Email: andrew@lsglendingadvisors.com

EP. 218 David Drewett: Multifamily Shared Living Spaces

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Multifamily Shared Living Spaces

Today we talk with David Drewett, owner of Property Hero. David provides a great service to Sarasota, FL by providing affordable housing in a market that’s not affordable. He does this by investing in distressed multifamily properties, fixing them up and adding rooms in the living spaces, and then he rents out the rooms. The tenants share the kitchen and bathroom, and they also do the cleaning and light maintenance. It’s a win-win since the community is happy to see buildings getting painted and fixed up while helping people get affordable housing, and it’s a great business for David.

Key Discussion Points

[01:05] Opening remarks by Eric Odum and Steven Silverman
[05:49] About our guest: David Drewett
[06:58] How did you get started in real estate investing?
[08:27] Why did you choose Sarasota to start your real estate business?
[11:29] At what point did you get into multifamily
[12:38] What type of multifamily properties are you targeting for investments?
[16:12] What is your ideal tenant for the rooms you rent out?
[17:46] Tell us about your tenants doing the maintenance and cleaning
[19:17] Do you do leases or month to month?
[20:17] What are some of the important tenant rules in maintaining your business model?
[24:25] Do yo have someone help you with the leasing, or do you show the spaces yourself?
[26:33] How do you manage your properties and tenant payment
[29:42] What advice would you give to new investors – knowing what you know now?
[33:59] How are you managing your crews?
[35:27] How can folks get in touch with you?
[40:40] Closing comments by Eric & Steven

 

About our Guest

David_Drewett
David Drewett is the owner of Property Hero. He and his company have closed more than 500 real estate transactions in Florida. David is knowledgeable in most facets of real estate transactions and is known for paying top dollar for investment properties. David is an investor in multifamily, and most recently is buying distressed multifamily properties and rents out the rooms.

 

CONTACT INFO

Cell: 941.544.8873