Category Archives: Property Class

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

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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. 184 Greg Bond: The Orlando Real Estate Market

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The Orlando Real Estate Market

GregBondPictureIn this week’s episode, we talk with Greg Bond about his take on the Orlando market as well as what he’s got going on with his property management business. Greg is still finding great deals by using basic common sense and some good marketing strategies.

Some of his strategies include: 

  • Diversifying his portfolio
  • Leveraging IRAs
  • Going to outlying areas to get better margins
  • Renting to retirees

 

Discussion topics with our guest, Greg Bond

[05:00] Overview of how Greg got started in real estate
[09:37] Is Greg still rehabbing and selling or is he building a portfolio?
[10:29] What is Greg’s rule of thumb for finding good deals?
[11:47] What is the price level of the houses Greg is going after?
[12:21] Does Greg also purchase condos? Or just single family homes?
[13:20] What does Greg see going on in the Orlando market right now?
[13:47] How is Greg finding his properties?
[15:33] Greg’s positive take on self-directed IRAs as a good vehicle for investors
[19:28] What other assets has Greg diversified into (besides single family home)?
[24:36] What are some of the bogies and data points Greg looks for in Assisted Living Facilities (ALFs)?
[26:13] Does Greg manage his self-storage properties, or does he use existing managers?
[29:40] Eric and Steve’s summary and closing remarks

 

About Our Guest

GregBondPictureGreg is a successful business owner who owns The Property Manager Guys, LLC and is one of the founders of Greater Orlando Home Buyers, LLC.  He is also an experienced investor who has been active in single family homes, self-storage, and assisted living – and he has real estate holdings in several states and countries.

Investor Resources

Email: gregbond@thepropertymanagerguys.com
Phone: 407-252-9658

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. 182 Joe Turney: Self-Taught Lessons for a Single Family Home Portfolio

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Lessons for a Single Family Home Portfolio

Joe Turney had worked for 20 years in computer software which gave him a great income, but very little retirement and wealth. Between 2005-2010 he had several close people pass away including his dad, and it was then he started realizing he was trading his life for dollars. He decided he wasn’t going to do that anymore and he wanted out of the corporate rat race, the commuting, and the alarm clocks. 

Joe wanted a lifestyle with more freedom. He asked several people with that lifestyle what they did and they all said “real estate.” He decided to go into real estate and taught himself the ropes by reading, taking online courses, and just doing.

Joe’s advice is to just get out, take action, and be willing to make mistakes. Join us for this podcast as Joe takes us on his personal journey of his life-style changing path into real estate.

 

Podcast Outline

[04:51] About our guest: Joe Turney
[05:12] Overview of how Joe got started in real estate (from computer software to real estate)
[09:11] Joe’s strategy for building his rental portfolio
[10:04] Joe’s advice to new investors
[15:37] Is Joe’s focus only on single family homes or also condos?
[17:11] Financing: how does Joe blend debt with partnerships?
[21:42] How does Joe feel about the market going forward?
[23:42] How can people contact Joe?
[25:23] Eric and Steve’s summary and closing remarks

 

About Our Guest

Joe Turney had worked for 20 years in computer software. After questioning his current career and lifestyle, he retired from computer software about 6 years ago to become a successful full-time real estate investor.  

Investor Resources

You can contact Joe Turney via the following:
Email: joe@joeturney.com

Ep. 178 Richard Wilson: Family Office Market Update

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The Family Office Market Update

RichardWilsonPhotoRichard Wilson joins us for this week’s podcast to discuss his insights and updates on the family office market. He also addresses how the family office applies to the real estate sandbox, and how real estate syndicators / sponsors can best approach investors.

The family office is a wealth management solution for those that are ultra-wealthy. The wealthier you are, the more a 1% or 3% mistake — selling assets at the wrong time, tax mistakes, regulatory fines, paying too much in fees, etc. — can add up to a lot of money. That’s why many wealthy individuals/families are willing to pay a full-time team to help prevent those types of mistakes and reduce chaos and stress as well as to help them more effectively use their time.

 

SHOW NOTES TIMELINE

[01:13] Opening remarks by Eric Odum and Steven Silverman
[04:33]: Introduction to Richard Wilson
[05:14] What is a family office?
[08:16] Have there been any significant changes in the family office?
[10:22] What kind of deals are your family offices working on?
[12:23] How does family office apply to the real estate sandbox?
[14:56] What kinds of deals would a syndicator have a crack at doing?
[20:30] How can real estate syndicators best approach investors?
[27:11] How do you make yourself look credible when meeting with investors?
[33:26] How can PitchDecks.com help a syndicator put a deal together?
[42:33] How can people learn more about the services / events Richard offers?

 

About Our Guest

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Richard Wilson is CEO of the Family Office Club which is a private club with 1,750 registered investors, around 900 monthly subscribers, and hosts 25 live events a year.

Richard has written the #1 best selling book on family offices and capital raising, and he advises $100M+ net worth clients through his CentiMillionaire Advisors, LLC firm.
 

Richard is a returning guest from 3 years ago on episode 76.

 

Investor Resources

  • A free, best-selling 80-page book by Richard on how to raise capital can be found at capitalraising.com (you can also purchase this on Amazon).
  • Another book written by Richard, The Headaches of $100M+ Families, can be found at  http://centimillionaires.com
  • Anyone new to the family office space or who is interested to see what events we Richard has scheduled or how charter membership works / family office club works, or to download a free book on Family Offices, can go to familyoffices.com

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. 174 Frankie Herrera: Real Estate Success through Listening and Solving Problems

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 Listening vs Talking

When people do business, they are usually always talking and selling. Frankie Herrera, however, takes the opposite approach. Frankie’s strategy is to get in front of the investors and listen in order to understand the problem and then provide a solution that’s mutually beneficial.

 

KEY TAKEAWAYS FROM THE Q&A:

[13:55] Does Frankie have a specific formula to determine if the property is a good investment?

Frankie does not have a specific formula but instead looks at the big picture. Ultimately, it just has to make sense. Frankie likes to physically be there to see the property and the surrounding area to get a gut feeling as well as to see what the comps are saying.

[18:05] How does Frankie find the people he can help?

In 2014 he bought into a franchise called HomeVestors.  For advertising, they do mass mail marketing, TV spots, billboards, and pay-per-click — all on a very large schedule. There are 34 local franchises, and they pool their money together to be the “100 pound gorilla” in the room.

[24:05] How does Frankie acquire capital?

Frankie maintains very clean and understandable books/financials so that banks can look and easily see it’s a good investment. This really helps to get good size lines of credit. They leverage those lines of credit as well as their own money from their property management company.

[30:30] How is the market right now?

It’s hard to read the market so they do a lot of testing. They buy a lot of property and throw it out there wholesale to see how the investors are doing.

[33:20] Any advice for Newbies?

Pay attention and listen to absolutely everything that’s out there. Try to stay in a relatively safe place. Don’t feel like you have to shoot for a home run on your first one. Start hitting singles. Singles turn into doubles and triples, and then your home runs will come. Focus on one thing at a time. Be careful of the amount you will improve a property. You will not be living there, so don’t get wrapped up in too many improvements. Don’t over-improve the property.

 

About Our Guest

Our guest this week is Frankie Herrera. Frankie has a B.A. in Finance from the University of South Florida. He started his career as a project manager for Volunteers of America Florida in 2006 where he learned building construction. In 2009 he furthered his career by joining Hillsborough County Fire Rescue.

In 2011 he started Partners Associated in Development by Herrera, LLC at HomeVestors – where his team has bought, rehabbed, rented, and sold over 300 properties.

In 2016, he opened up RealVest Florida, LLC – a boutique real estate brokerage. In 2017, he opened up Versant Managmeent Group, LLC – a property management group which manages properties for local investors.

 

Investor Resources

If you would like to contact Frankie Herrera, you can can reach him at directly at 813-944-3908 or 813-966-9734. Frankie can help you with you with questions about deals, the area, how things are going, looking for a house, property management, retail real estate and investments.

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. 167 Rob Gidel: Lawfare – Navigating Exclusive Use Clauses in Your Retail Lease

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For retail landlords and tenants, there are various ways in which mutually beneficial partnerships can be formed in order to maximize returns for both parties. Beyond the standard retail lease, you can incorporate specific terms and conditions as negotiated between you and the tenant.

Exclusive use clauses are one key example of this. Incorporating an exclusive use clause in your retail lease is a great way to ensure long-run returns for both you and the tenant. If you look at successful examples of exclusive use in retail leases like Publix or CVS, the benefits are clear.

But with every give, there is some take.

If you plan on incorporating an exclusive use clause into your retail lease, you need to consider – as always – the cons as well as the pros. If you’re not careful, exclusive use clauses can fall heavily in the tenant’s favor, leaving you with a financial albatross.

1031 exchanges net lease investments; exclusive use clausesFor this edition of Lawfare, we have attorney Rob Gidel join us to talk us through the nuances of exclusive use clauses and how to navigate potential pitfalls in your retail lease.

You’ll remember Rob from past episodes in which we’ve discussed areas ranging from 1031 Exchanges and net lease investments, to building a successful partnership with your real estate attorney.

In this episode, Rob gives us an overview of the potential pros and cons of exclusive use clauses and touches on specific points contained commonly contained within them such as:

  • Clause-specific language
  • Blanket restrictions on competition and use outside of original restriction
  • Continuous operation clauses

You don’t want to miss this special Lawfare edition in which we discuss incorporating exclusive use clauses in your retail lease!

 

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