Ep. 231 Michael Brady: Biden’s Proposal to Eliminate 1031 Exchanges & It’s Impact on Real Estate

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Biden’s Proposal to Eliminate 1031 Exchanges & It’s Impact on Real Estate

Today we discuss 1031 exchanges with Michael Brady, and the Biden Administration’s proposal to possibly eliminate them, as well as the potential impact this will have (and is having) on real estate. As an overview, a 1031 exchange allows you to sell one investment or business property and buy another without incurring capital gains taxes. It also has a multiplier affect in that 1031 exchanges help to generate revenue, jobs, and economic development. So why is the current White House administration proposing to possibly eliminate 1031 exchanges when cutting it would barely put a dent in the deficit? Is this really a good idea?

 

Key Discussion Points

[01:06] Opening remarks by Eric Odum & Steven Silverman
[03:32] About our guest: Michael Brady
[05:14] What is a 1031 Exchange and why is it important?
[07:09[ How have 1031 Exchanges and captial gains changed over the last 30 years?
[10:19] Discuss the thinking of Congress to cut 1031 Exchanges to help lower the defiicit
[12:52] If 1031 Exchanges get cut, how will that affect real estate transactions and prices?
[16:43] If 1031s get cut, when might this happen? And might it be retroactive?
[20:20] How can folks contact you?
[21:32] Closing comments by Eric & Steven

About our Guest

MichaelBrady_500px

Michael Brady is the Executive Vice President for Madison 1031 Exchange. He is a certified exchange specialist and attorney, and his responsibilities include consulting with clients and their advisors on 1031 exchanges, as well as giving seminars to other attorneys, accountants, and real estate professionals, and publishing articles on tax and legal issues. Michael has over 20 years of experience in representing clients in real estate transactions.

 

CONTACT INFO

Email: mbrady@madison1031.com

Ep. 230 Natalia Ouellette: Due Diligence in Real Estate

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Due Diligence in Real Estate

On today’s podcast we talk about the importance of due diligence on both the buyer and tenant side with Natalia Ouellette, founding partner at LCO Law LLC. Natalie offers a wealth of information as we cover numerous aspects of due diligence, such as engineering , structural aspect, making sure the survey is accurate, making sure the title is accurate, and we cover some common lease terms that may trip up a buyer.

 

Key Discussion Points

[01:10] Opening remarks by Eric Odum
[04:30] About our guest: Natalia Ouellette
[07:19] How did you get started in real estate?
[11:40] Discussion about due diligence on the buyer and tenant side
[19:47] Discussion about due diligence of acquisitions of investment properties
[34:06] Talk about Joint and Several Liability (new buyer has to pay past dues of previous owner – ie HOA fees)
[43:22] What are some terms when signing a lease that are common but could trip up a buyer?
[56:12] How can folks contact you?
[1:00:00] Closing comments by Eric

 

About our Guest

NatalieOuellette

Natalia Ouellette’s practice focuses on helping real estate investors reclaim their time and their sanity with their contracts, leases, evictions, foreclosures, purchases, and tax deeds.

Natalia is a founding partner at LCO Law LLC, and has successfully completed nearly a thousand Tax Deed cases and has skillfully represented foreclosure bidders in hundreds of cases, assisting them in recovering deposits, confirming foreclosure sales, negotiating lien payoffs, and re-foreclosing omitted junior lienholders. For nearly a decade, she was president of a Tampa Bay title company, and has  participated in over six thousand closings.

 

Check out Natalia’s book on Amazon: TAX DEEDS – HOW TO BECOME AND STAY WEALTHY BY MASTERING LIENS, POSSESSION, AND MARKETABILITY

CONTACT INFO

Phone: 813-480-2106 or 813-408-2309
Website: https://lcolawfl.com/
YouTube: search for Natalia Ouellette or google Natalia Ouellette

Ep. 229 Ben Pleat: Building Community While Increasing Retention in Multifamily Residential

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Building Community While Increasing Retention in Multifamily Residential

Today we talk with Ben Pleat, CEO and founder of Cobu, which is a fully moderated community software app that helps build sense of community among residents of large apartment complexes while also helping to increase resident satisfaction and thus increase retention and renewals.

Living in apartment buildings can be an isolating experience. The way Cobu helps to build community is by connecting residents based on shared affinities — for example, a mom’s group, parent group, foodie group, dog group, etc, and it enables residents to create community in a way that doesn’t require additional time or budget from the property team.

Key Discussion Points

[01:02] Opening remarks by Eric Odum and Steven Silverman
[04:50] About our guest: Ben Pleat
[05:39] What inspired you to found Cobu?
[07:53] How does Cobu help create community for residents of multifamily apartments?
[10:52] At what size of an apartment complex does Cobu start to make sense?
[12:16] Talk to us about the data supporting Cobu helping with apartment retention and renewals
[15:25] What is the cost per apartment complex property for offering Cobu to their residents?
[16:14] Talk about how you have a live moderator helping to coordinate community groups within the app
[20:25] How can folks contact you?
[47:11] Closing comments by Eric & Steven

 

About our Guest

Ben_Pleat

Ben Pleat is the CEO and founder of Cobu, a leading virtual community engagement platform built for multifamily. Cobu makes it easy for residents to connect with their neighbors and neighborhood while also helping to increase resident satisfaction and thus retention and renewals.

CONTACT INFO

email: ben@livecobu.com or info@livecobu.com

EP. 228 Alan Fruitman: Single Tenant Triple Net (NNN) Properties

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Single Tenant Triple Net (NNN) Properties

On this week’s podcast we talk with Alan Fruitman about single tenant triple net (NNN) leased properties. A NNN lease helps minimize the responsibilities for the investor since the tenant agrees to pay all the expenses of the property including the real estate taxes, building insurance, and maintenance.

A very interesting discussion that emerged from this episode is the current administration’s proposal to cut 1031 exchanges, which would be a tremendous blow to real estate. If Capitol Hill eliminates the 1031 Exchange, this will have a dramatic and negative affect on real estate as this would decrease proceeds by almost 50%. As a consequence, Alan predicts a heavy volume of real estate transactions in Q3 and Q4 as investors are trying to get their sale and 1031 exchange in before the end of 2021.

Key Discussion Points

[01:04] Opening remarks by Eric Odum and Steven Silverman
[04:55] About our guest: Alan Fruitman
[06:00] How did you get started in the single tenant world?
[07:23] What is Triple Net and Doubl Net?
[10:30] Overview of single tenant market
[12:38] What would you advise for a buyer of a single tenant property?
[20:57] How are you finding value in this tough market / which regions are hot markets?
[25:53] What are your thoughts on the medical triple net market?
[32:20] Tell us your thoughts on Capitol Hill potentially eliminating the 1031 Exchange and it’s affect on real estate
[42:36] How can folks contact you?
[43:30] Over the last 2 years, what cap rates have you seen on single tenant deals (i.e. Walgreens, CVS, etc..)?
[47:11] Closing comments by Eric & Steven

 

About our Guest

 Alan_Fruitman

Alan Fruitman is the president and managing broker of 1031tax.com. Alan specializes in helping investors purchase single tenant NNN properties nationwide. He is the author of The NNN Triple Net Property Book: For Buyers of Single Tenant NNN Leased Property.

CONTACT INFO

Phone: 1-800-454-0015
Website: 1031tax.com

EP. 227 Eric Odum: Lawfare – Mortgage Satisfaction

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Lawfare: Mortgage Satisfaction

Eric Odum tells the real life ongoing story about a borrower and a private lender, and the importance of ensuring that when a loan is paid off, that the mortgage satisfaction has actually been recorded. In this case, the borrower wanted to sell his property. However, although the borrower had paid off the mortgage to a private lender 16 years ago, and the lender supplied a satisfaction of mortgage to the borrower, it was never filed. The borrower did find the mortgage satisfaction document, but the title company said it was not sufficient satisfaction and they would need to issue a new document, and to make matters worse, the lender did not remember the transaction.

The bottom line is this: When you pay off a mortgage, always ensure that the satisfaction of mortgage has been recorded and filed.

 

Key Discussion Points

[01:03] Opening remarks by Eric Odum
[02:29] The client situation: Mortgage satisfaction was not recorded
[06:07] Quiet Title and how this can help in this situation
[07:38] Key advice: Always ensure the satisfaction of mortgage gets recorded

 

About our Guest

Eric-Odum_picture

Eric Odum is the host of the Invest Florida Real Estate podcast with updated episodes dropping every 2 weeks. Hear from top experts in the real estate industry with a focus on Florida.

EP. 226 Eloy Retana: Florida Mobile Home Park Market

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Florida Mobile Home Park Market

During this COVID19 epidemic, mobile home parks have outperformed other real estate asset classes. Today we talk with Eloy Retana about the Mobile Home Park Market in Florida and how he considers them a safer asset for investment as we enter a period of economic uncertainty.

Eloy and his partner have done quite well in this market as housing affordability has become more of a problem. Since it is more difficult for a mobile home tenant to move, Eloy enjoys the stability and longevity of the tenants. Up until recently, investors in the mobile home park market have been seeing 15%-20% cash on cash returns with the potential to double their money within 5 years. Although lately it’s been more difficult to reach those returns with the increased competition and rising prices. However, great returns and cash flow are still there for savvy investors.

Key Discussion Points

[01:03] Opening remarks by Eric Odum and Steven Silverman
[07:42] About our guest: Eloy Retana
[08:41] How did you get into the real estate business?
[09:51] How did you migrate into mobile homes?
[17:19] How is it working with you syndicating your deals?
[19:55] What would you advise for folks wanting to leverage syndication to get bigger deals?
[23:35] How is the supply in the mobile home park market?
[27:35] What kind of ROI can investors expect for mobile home parks relative to other investments?
[28:53] What do you like about investing in Florida?
[30:25] What are the pros and cons of a partnership model?
[31:51] When someone leaves a mobile home, are there still people buying mobile homes and moving into parks?
[32:35] Has debt been easier or harder over the last 12 months? What does your debt look like?
[34:20] How do you find these mobile home parks to invest in?
[35:34] How can folks contact you?
[37:05] Closing comments by Eric & Steven

 

About our Guest

 Eloy
Eloy Retana is a passionate real estate investor based in Denver, Colorado but who invests in Florida. He is the Principal & Investor Relations Manager at Apex Communities and is the host of a podcast called, “The Savvy Mobile Home Park Investor”. He’s currently invested in 113 apartment and mobile home units.

 

CONTACT INFO

Website: partnerwithapex.com
Text: text “free book” to 474747 for Eloy’s free eBook, “The Top 3 Reasons to Invest in Mobile Home Parks”

EP. 225 Alicia Jarrett: Florida Land Investing

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Florida Land Investing

While many Florida investors focus on multifamily investments, Alicia Jarrett and her team are focused on land investments – and they are doing quite well. And did we mention Alicia is based in Australia?

Alicia discovered that the turn-around time with land is actually quicker (just a few days) than any other physical asset like multifamily or single family. Surprisingly, there are a lot of people that own land that don’t want it, so there are a lot of Florida land investment opportunities out there. Alicia uses a systematic approach combined with technology to help her and her team find, manage, and sell these land investment opportunities – and she can help you as well.

Key Discussion Points

[01:07] Opening remarks by Eric Odum and Steven Silverman
[03:51] About our guest: Alicia Jarrett
[04:42] How did you get into real estate investing? And why invest outside of Australia where you are from?
[11:22] Tell us how you did your first deal investing in Florida
[14:08] How are you using technology to help with your deals?
[16:51] How did you connect with our mutual friend, Colin Murphy?
[18:12] What is your strategy for land investing?
[21:42] How are you finding these motivated land sellers?
[25:31] Where do you advertise these land deals?
[26:54] What else do you invest in besides land?
[27:57] What are the biggest mistakes you see foreign investors making in the U.S. real estate market?
[34:06] What areas within Florida have you focused on? And why?
[37:26] How do you further narrow down your land investment search within your preferred counties?
[42:20] What advice would you give to people who want to get into real estate investing?
[44:12] How can folks contact you?
[46:44] Closing comments by Eric & Steven

 

About our Guest

EP225_AliciaJarrett
Alicia Jarrett is a passionate and globally driven real estate investor. She is actually investing in U.S. and Florida real estate from Australia. She’s also an educator and provides efficient business real estate marketing solutions to people who want to invest in real estate.

 

CONTACT INFO

For info related to systems and process for land acquisitions
Phone: 888-538-5478
Contact info related to land business

EP. 224 San Eng: Central Florida Multifamily Market

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Central Florida Multifamily Market

It’s no secret that the Florida real estate market is red hot. But how long can it last? And how will the $1.9T stimulus affect the market over the next 6 months – 2 years? Today we are joined by San Eng, CEO of Skytian Capital, who gives us his perspective on the central Florida multifamily market, with a focus on B and C class properties.

San Eng is a Wall Street Journal & USA Today best-selling author of “The Ten Commandments of Investing”, which is a collection of guiding principles from the greatest investors in history.

Key Discussion Points

[01:07] Opening remarks by Eric Odum and Steven Silverman
[05:43] About our guest: San Eng
[08:13] Tell us about your book “The 10 Commandments of Investing”
[10:26] Walk us through each of the 10 commandments of investing
[15:30] How did you meet Eric and Steven?
[17:55] What made you decide to invest in multifamily in Florida?
[22:04] What types of multifamily deals entice you?
[25:15] What effect do you think the $1.9T stimulus will have on the real estate market over the next couple of years??
[34:25] Is all of your equity derived from the family office, or are you leveraging that equity with other partner equity?
[36:05] How are you handling maintenance?
[37:20] What method are you using to find properties?
[41:12] How can folks contact you?
[42:17] Tell us about a really good deal that you lost
[46:44] Closing comments by Eric & Steven

 

About our Guest

Sam_Eng_400px
San Eng is a successful entrepreneur, investor, and educator. He has invested over $500 million in capital including his own 9-figure funds across multiple asset classes across North America, China, and Asia. He has co-founded and led half a dozen ventures raising over $100 million. These initiatives have created thousands of jobs. San is a lifelong learner and teacher, having taught investing at prestigious business schools and via Wizards Institute. He holds a BS Economics and a Portfolio Management certificate from the Wharton School of Business and an EMBA from CEIBS, the top business school in Asia. San currently resides in Toronto, Canada.

 

CONTACT INFO

EP. 223 Casey Siggins: Florida Debt Market Update

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Florida Debt Market Update

Over the last year there have been a lot of changes in the Florida debt market due to the COVID pandemic, and the distress in the market is having a real affect. Today we talk with Casey Siggins who gives an overview of the various asset classes and what the debt market is doing in each of these.

All the main asset classes are covered as well as various niche assets.

Key Discussion Points

[01:10] Opening remarks by Eric Odum and Steven Silverman
[04:42] About our guest: Casey Siggins
[06:27] Give us a high level view of the markets right now and the underwriting situation
[10:58] Give us an overview of the distress in the market right now (retail, hospitality, multifamily, industrial, office)
[18:29] Overview of the larger lendors and how they’ve changed over the last year
[22:28] Quick discussion of non-recourse loans
[23:14] What is going on in the equity markets?
[25:23] Give us an overview of some of the niche markets
[28:06] Are there any areas in Florida or asset classes where lenders are hesitant or won’t touch
[30:43] Tell us about how your firm, Franklin Street Capital Advisory, can help investors/borrows find the capital they need
[33:14] How can folks contact you?

 

About our Guest

casey-siggins
Casey Siggins specializes in the origination and placement of debt and equity financing for all commercial real estate product types. Casey and his team have closed nearly 1 billion worth of debt and equity transactions. Casey is the co-head of Franklin Street’s capital advisory vertical.

CONTACT INFO

EP. 222 Jeff Rosenfeld: Multifamily Construction Update

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Multifamily Investing & Syndication

Today we get an update on Florida multifamily construction from our guest, Jeff Rosenfeld, Executive Vice President of Adivo Construction. Florida has had a lot of disruption in the last couple years with things such as tariffs and COVID. Recently, Florida has seen a mass influx of new residents looking for multifamily housing, but there is currently a shortage of skilled construction labor. We talk about how this is affecting multifamily construction costs and discuss how some investors are re-purposing various assets such as hostels and commercial loft space into multifamily housing (commonly called adaptive reuse).

Key Discussion Points

[01:07] Opening remarks by Eric Odum and Steven Silverman
[06:08] About our guest: Jeff Rosenfeld
[06:59] Give us an overview of Florida Multifamily market
[10:15] What’s been going on with multifamily construction costs in the last few years and since COVID?
[11:53] What’s the outlook on multifamily construction costs?
[13:26] With COVID as a disruptor, tell us about adaptive reuse (converting hotels / commercial loft space into multifamily)
[15:05] What areas of Florida are you seeing the most adpative reuse / repurposing of assets into multifamily?
[18:08] Is some of this asset repurposing going towards workforce housing?
[20:22] Tell us about the construction labor force situation in Florida
[25:08] How is construction adapting to low labor force?
[27:45] How would you compare the Florida markets vs the other markets around the country you work in?
[29:47] What types of value-add are you doing to improve your properties?
[35:48] How can folks contact you?

 

About our Guest

Jeff-Adivo
Jeff Rosenfeld is Executive Vice President and founding partner of Adivo Construction based in Deer Field Beach, Florida.

CONTACT INFO

Toll Free Number: 833-825-2425