EP. 221 Charles Carillo: Multifamily Investing & Syndication

Posted on February 8, 2021 by Tim

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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

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

Posted on January 11, 2021 by Tim

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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

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

Website: lsglendingadvisors.com

EP. 218 David Drewett: Multifamily Shared Living Spaces

Posted on December 21, 2020 by Tim

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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 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

Website: http://bradentonrooms.com/

Ep. 206 Colin Murphy: Personal Perspective on Single Family Investing during COVID19

Posted on June 29, 2020 by Tim

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Personal Perspective on Single Family Investing during COVID19

Today we talk with Colin Murphy about how the COVID19 crisis is affecting the single family market. Colin is active in the affordable single family home market ($150k-$180k concrete block homes) and they have been remarkably resilient which means he hasn’t seen many discounted prices or special deals as a result of COVID19.

At least in the near future, Colin doesn’t think we will see a wave of short sales or foreclosures. Some of the reasons for this are that banks aren’t giving out the bad loans now that they were giving out 12 years ago. Also, a record number of home owners have refinanced which has given them additional cash flow to weather a storm. There is just not as many distressed homes on the market to get a discounted price or deals. This can all change, however, as real estate is a lagging indicator and is a couple of months behind the wider economy.

Key Discussion Points

[01:04] Opening remarks by Eric Odum

[02:53] About our guest: Colin Murphy

[03:44] What have you been up to since you were on our show 4 years ago?

[05:39] How has COVID affected your outlook and investment strategy?

[11:14] What kind of pricing opportunities have you seen / auction market buying

[18:22] How is COVID affecting your assistants, contractors, property managers, inspectors, etc..

[22:26] Do you run your own maintenance crews or do you contract it out?

[26:04] With regard to real estate, what have you learned from this COVID crisis that might permanently change your thinking?

[29:24] Tell us about your new podcast

[30:51] What do you enjoy doing in your personal time?

[34:22] How can people contact you?

[35:50] Closing comments by Eric and Steven

About our Guest

Colin Murphy is originally from Ireland and now lives in Tampa, Florida with his wife and 2 children. He is an active investor who has bought and sold more than $100 million worth of residential real estate in the U.S. and U.K. markets, including 350+ fix-ups in the Tampa Bay area (Florida) between 2015 and 2020. He has experience in a variety of real estate including buy and hold, fix and flip, wholesaling, tax deeds, foreclosure auctions, note investing, private lending, and more.

In addition to investing full time, Colin enjoys podcasting, networking with fellow professionals and generally creating useful content for those who want to achieve financial freedom before they get too old to enjoy it.

Colin was a previous guest on our podcast show 4 years ago on episode 73.

CONTACT INFO

colingmurphy.com

LinkedIn: Colin G Murphy

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

Posted on May 18, 2020 by Tim

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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 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. 201 Eamon Anderson: Alternative Security Deposit Solution for Commercial Businesses

Posted on April 20, 2020 by Tim

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Alternative Security Deposit Solution for Commercial Businesses

Today we talk with Eamon Anderson, director of strategy and underwriting at TheGuarantors agency, about an alternative security deposit solution for commercial businesses that helps both the landlord and the tenant. Their solution is basically an insurance version of the commercial security deposit that protects the tenant and landlord for the term of the lease from potential loss of rent payments.

From a landlord’s perspective, it’s as good if not better than the incumbent’s solutions to cover the risk of missed rent or high upfront tenant improvement (TI) cost. They’re getting a surety bond that works just like a letter of credit and it’s backed by investment grade credit, payable on-demand. And from any of the landlord’s lender’s perspective, it works just like a letter of credit.

From a tenant’s perspective it’s a lot cheaper option because it’s unsecured. All tenants have to do is pay an annual insurance premium, typically an average of 5% of the security deposit per year, and they never have to put up the full amount of the deposit in cash. The tenant can then reinvest the money they’re not giving to the landlord.

Key Discussion Points

[01:04] Opening remarks by Eric Odum and Steven Silverman

[04:44] About our guest: Eamon Anderson

[05:42] Tell us about this insurance version of the commercial security deposit solution that you offer

[10:19] How does your solution protect the tenant/landlord for the term of the lease in terms of not missing rent payments?

[16:21] Is this insurance obligation written into the lease like any other tenant obligations?

[17:15] What does the balance sheet / credit analysis need to look like on the tenant side to work with you?

[22:34] Do you find that people understand and like this solution?

[27:25] Closing remarks by Eric and Steven

About our Host

Eamon Anderson is director of strategy and underwriting for the Securiti team of TheGuarantors agency. He graduated from Hamilton college in Clinton New York. After college, he worked at Morgan Stanley for 5 years providing customized credit facilities to the bank’s high net worth and private equity clients. His experience with a wide array of lending products and clients types at Morgan Stanley gave him the experience to create underwrite and structure surety bonds for the Guarantors commercial clients.

Email: info@securiti.io

Website: https://www.theguarantors.com

Ep. 195 James Donnelly: Residential Property Management

Posted on February 10, 2020 by Tim

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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

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. 193 Derek Waltchack: Opportunities in the Florida Retail Market

Posted on December 16, 2019 by Tim

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Florida Retail Market Opportunities

On today’s podcast, we talk with Derek Waltchack about the retail asset class with a focus on strip centers. As Derek shares, there is a lot of misinformation about the retail asset class. Many investors steer clear of retail, especially when retail assets like malls are not doing so well — but malls are not the real “bread and butter”. Despite what you may hear, retail is a very stable asset class, especially when it comes to strip centers in good neighborhoods.

Derek also takes us into the new modern world of blockchain, the record-keeping technology behind bitcoin that is used to store digital information in a public database, and which is starting to be used in real estate transactions.

Key Discussion Points

[06:02] How did you transition from broker to owner?

[10:47] What investments are you looking for in Florida?

[18:44] Why did you choose Florida / I-4 corridor for retail investments?

[25:30] What kind of cap rates are you looking for?

[38:42] Where does your debt financing come from?

[31:01] From an underwriting standpoint, what are a few important things you look for when someone wants to bring you a deal?

[33:43] Tell us about blockchain technology that is starting to be used in real estate

[43:00] How can folks contact you?

[44:43] Closing remarks by Eric and Steven

About Our Guest

Derek is a partner at Shannon Waltchack based in Birmingham, Alabama. Derek has extensive experience in commercial real estate. In Birmingham, he spearheaded a $4.5 million renovation that transformed a 100 year old warehouse into a cutting edge business center known as railroad square. He also did the first crowd source development in Birmingham, and that development is known as the Stockyard Birmingham. Currently he is working on projects in central Florida.

Derek is also a subject matter expert on bitcoin, blockchain, and how those technologies are impacting the economy, specifically in general and commercial real estate.

Website: https://shanwalt.com/
Email: dw@shanwalt.com
Twitter: @dwaltchack

Ep. 190 Coworking Space in the Office Market

Posted on November 4, 2019 by Tim

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Coworking Space in the Office Market

The coworking space has grown significantly, and it’s going to continue to be the fastest growing sector in the Office Market. Coworking has become a transition space between coffee shops and full-time commitment on office space.

WeWork is a disruptor in the coworking space, but recently is having financial issues which could cause some ripples in this arena, but would probably not be catastrophic and will most likely be absorbed.

The whole economy in America is changing as we become more of a service economy, but office space will always exist.

Join us for this week’s podcast as Eric Odum and Steven Silverman share their thoughts on the Office Market, specifically the coworking space.

Key Discussion Points

[08:25] Medical Office Space Market
[12:42] General Office Space Market
[13:59] Coworking Space in the Office Market and discussion about “WeWork.com”
[31:12] Office Market Investment Opportunities
[34:20] Summary of Coworking Space and the Office Market

About Our Hosts

Eric Odum and Steven Silverman are the hosts of the Invest Florida Show podcast — actionable real estate investment talk with a focus on Florida.

Florida Investment Real Estate provides turnkey real estate investment solutions for our clients. With a diverse background in Florida’s commercial real estate markets, Florida Invest Real Estate offers investment services for individual and institutional investors seeking retail, multifamily, and medical office properties of $500k to $10m.

Website link:

https://investfloridashow.com

Ep. 189 Bryan Chavis: Multifamily Syndication and Investing

Posted on October 21, 2019 by Tim

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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

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

Multifamily Investing & Syndication

About our Guest

CONTACT INFO

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Multifamily Construction Loans

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Multifamily Shared Living Spaces

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Personal Perspective on Single Family Investing during COVID19

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

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Alternative Security Deposit Solution for Commercial Businesses

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Residential Property Management

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Florida Retail Market Opportunities

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Key Discussion Points

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Multifamily Syndication

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