Ep. 211 Derek Waltchack: Embracing the Retail Market

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Current Florida Market Overview & Forecast

Today we talk with Derek Waltchack, partner at Shannon Waltchack, about his personal perspective on the retail market. While many investors steer clear of retail, especially when retail assets like malls are not doing so well, Derek embraces it and is doing quite well.

Our co-host, Eric Odum, is also bullish on retail, and said as long as we are driving cars, there is always going to be a need for people buying product or delivering service. So despite what you may hear, retail is a very stable asset class, especially when it comes to strip centers in good neighborhoods.

A little known but interesting fact about Derek is that he is also a part time truffle farmer and has the only truffle farm in Alabama. Very cool!


Key Discussion Points

[00:58] Opening remarks by Eric Odum and Steven Silverman
[04:51] About our guest: Derek Waltchack
[067:12] So you are also a part time truffle farmer in Alabama – tell us about that
[11:21] Tell us about the podcast you just started called “Brokerlord”
[14:13] How is your brokerage business doing right now, and how are you dealing with your tenants and assets?
[19:18] Discussion about why some people think retail is “terrible” when in reality it’s doing well
[21:35] How have you dealt with your tenants during this time of COVID?
[26:42] Are you seeing signs of distress with tenants not being able to pay their mortgages?
[32:17] Looking forward, do you have any special concerns about the market?
[35:44] Discussion about the office asset class
[42:54] What are you doing from an aqcuisition standpoint?
[44:50] Where are you getting your debt from?
[45:57] Are you seeing prices go from the 7 cap to the 8 cap?
[46:53] How are you aqcuiring investors for your fund?
[48:42] How can folks get in touch with you?
[49:37] Closing comments by Eric & Steven

 

About our Guest

Derek_Image_v2Derek Waltchack 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.

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. And, he is also a part time farmer: he has a chestnut farm, he keeps bees, grows pumpkins, and has Alabama’s only truffle orchard.

 

CONTACT INFO

Email: dw@shanwalt.com
Podcast Website: https://www.brokerlord.com/

Ep. 210 Brian Alford: Current Florida Market Overview & Forecast

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Current Florida Market Overview & Forecast

Today we discuss the current Florida Market and the Market Forecast with Brian Alford, director of Market Analytics for CoStar Group. Brian uses market data analysis to give us a current high-level and detailed overview of Retail, Industrial, and Office – as well as his market forecast for each. These are certainly unsettling times with COVID-19 affecting various businesses and asset classes. The good news is that, according to Brian, the overall forecast looks pretty good and Florida will come out ok.


Key Discussion Points

[00:57] Opening remarks by Eric Odum and Steven Silverman
[04:17] About our guest: Brian Alford
[05:23] How is the Florida market doing in general?
[07:44] Give us an overview of Industrial, Retail, Office, and Multifamily
[12:06] So are we in a false market right now (August 2020)?
[14:40] What markets have you seen fare better than others here in Florida?
[16:28] Retail Market: Current Outlook and Future Trends
[25:39] Industrial Market: Current Outlook and Future Trends
[29:49] Office Market: Current Outlook and Future Trends
[38:37] How can folks get in touch with you?
[39:22] Closing comments by Eric & Steven

 

About our Guest

brianalfordheadshot_750xx2250Brian Alford is director of Market Analytics in Florida for the CoStar Group. He is a market economist based out of the Tampa, Florida office. At CoStar, Brian analyzes commercial real estate market trends and economic indicators and produces daily written market and submarket reports across all commercial real estate sectors. He also maintains market forecasts and future trends into a concise and meaningful narrative.
Brian graduated from the Georgia Institute of Technology with a B.S. in Business Management and a certificate in Finance.

 

 

CONTACT INFO

Ep. 209 Jeremy Kloter: Market Outlook Now and After COVID-19

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Market Outlook Now and After COVID-19

Today we talk with Jeremy Kloter, owner of Out Fast Property Management, about how the market is looking currently, how it will evolve over the next several months, and what the market will look like post COVID19. Eric thinks that after the evictions and foreclosures start hitting the market again, we will see a short flattening of the price curve, and then there will be a pricing bubble as the market heats up over the next 18 months. As Eric says, “You can’t dump trillions of dollars into the economy and have it not affect real asset values.”

We also discuss property prices, property management, fix-and-flips, and funds.


Key Discussion Points

[01:01] Opening remarks by Eric Odum
[02:19] About our guest: Jeremy Kloter
[03:29] Tell us about your background and how you got into real estate
[05:38] What are you seeing in the market, and how has it changed since COVID?
[08:06] Are you seeing prices of properties getting bid up very quickly?
[09:56] How do you see the market evolving the next several months and after COVID?
[15:03] From the property management side, are tenants – paying rent? struggling to pay rent? or taking advantage and not paying?
[18:16] Tell us about your “fix-and-flips” / “buy-and-hold” deals and how you’re structured
[22:03] Tell us about your fund and how you arrived at your process for raising capital
[24:40] How can folks get in touch with you?
[34:27] Closing comments by Eric

 

About our Guest

KloterJeremy1269101Jeremy Kloter is the acting owner and broker of Out Fast Property Management. He’s been an investor since 2013 while he was oversees as a U.S. marine when he completed his first private lending deal. Jeremy has been involved with 100s of transactions through wholesaling, fix-and-flips, rental properties, property management, and joint venture.

As a guest on podcasts and radio, he has been recognized in the Florida Realtor magazine and is a trainer for the Landlord Property Management academy.

 

 

CONTACT INFO

Phone:  813-324-5852
Facebook & LinkedIn: Jeremy Kloter

Ep. 208 Byron Fisher: Finding Success in the Real Estate Market – a Personal Story

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Finding Success in the Real Estate Market – a Personal Story

Today we talk with Byron Fisher, owner of BT Realty Services in the Tampa Bay area, about his real estate strategies during this COVID19 pandemic. Although Byron only started in real estate in 2012, he has become quite successful in a short amount of time. Byron also gives his advice to new investors on how best to navigate the current real estate market and mistakes to avoid. Also discussed is that we are in somewhat of an artificial market as there really hasn’t been much of a change in prices and valuations due to the pushing off of foreclosures and evictions – but it’s only a matter of time before this changes.

 

Key Discussion Points
[01:01] Opening remarks by Eric Odum and Steven Silverman
[05:31] About our guest: Byron Fisher
[06:04] How did you get started in real estate?
[12:24] Are you using debt to acquire properties (the ones you are currently holding)?
[13:36] How has COVID19 affected your rental and acquisition business?
[15:54] Tell us about the online auctions you’re involved with (Auction.com, Hubzu, etc)
[19:56] What’s your opinion on where you think the market will go and what opportunities might come up?
[21:28] What have you heard about Gov. DeSantis pushing off foreclosures and evictions even later than August 2020?
[24:47] What types of mistakes do you see people making as they build their real estate business?
[25:33] Do you have your own crews that can help fix up real estate properties?
[31:19] What advice can you give to new investors on how best to navigate this real estate market we’re in?
[32:19] How can people contact you for opportunities or questions?
[34:27] Closing comments by Eric and Steven

 

About our Guest
byron_croppedByron Fisher is owner of BT Realty Services. Byron started his business in 2012. He spent the first 4 years buying rentals and flipping residential properties. In 2016 he started doing hard money loans focused mainly on the rehab loan. He has sold several million dollars in properties and actively maintains a portfolio of properties and loans.

 

 

 

CONTACT INFO
Email: btrealtyservices@outlook.com
Phone: 727-642-9552

Ep. 207 Jake Marmulstein: Investment Management Software for Real Estate

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Investment Management Software for Real Estate

Jake Marmulstein is a tech-savvy entrepreneur and co-founder & CEO of Groundbreaker, a tech company that creates software to automate real estate fundraising, investment management, and investor relations. Jake discusses the software and how it is helping real estate investors and syndicators. He also reveals how he got the idea and how Groundbreaker got started.

Key Discussion Points
[01:03] Opening remarks by Eric Odum and Steven Silverman
[04:07] About our guest: Jake Marmulstein
[07:31] What prompted you to create Groundbreaker, and what market were you targeting?
[09:56] Can your software help people find investors?
[11:51] Tell us about the technology that’s becoming increasingly important in real estate
[14:40] What technology and solutions are there to help build and manage teams?
[16:57] Explain the benefits and onboarding process for investors
[20:25] From your perspective as a technology company, what lessons can we learn from COVID19?
[21:54] How can people reach you to get more info on Groundbreaker
[32:17] Closing comments by Eric and Steven

About our Guest

Jake-Marmulstein_500pxJake Marmulstein is the founder and CEO of Groundbreaker. Before founding Groundbreaker, Jake held a number of roles involving real estate and technology, supporting the growth of early stage digital technology ventures while working with the government on foreign direct investment by fortune 500 companies.

In 2011, Jake started his career in real estate, underwriting hotel investments for watermark capital partners. He graduated from Cornell University with a major in hospitality management and minored in real estate.

 

CONTACT INFO
Website: groundbreaker.co (you can then go to the instant demo form and then book a meeting with Jake)

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

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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

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
LinkedIn: Colin G Murphy

Ep. 205 Albert Auger: Living Abroad while Investing in Florida

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Living Abroad while Investing in Florida

Today we talk with Albert Auger who shares his story of how he went from broker to developer to investor. Alber is a successful real estate investor who’s cash flow allows him to live in Europe while he continues to invest in Florida. His model is “keep it simple” and his strategy is value-add, stay in the property for 3-5 years, stabilize it, then sell it.

Albert gives some practical advice such as suggesting going out and doing your own research. Don’t assume that just because somebody says property is “prime property” that it actually is prime property – ask “why” it is prime property. Also, try to talk to people in person to build good relationships, or at least get on the phone and talk to people and start making connections.

Key Discussion Points
[01:01] Opening remarks by Eric Odum
[05:32] About our guest: Albert Auger
[06:11] Background on how Albert got started and where he’s from originally
[10:45] Tell us about the first property you invested in and what you learned
[17:39] Tell us about your book and why you decided to write it
[22:52] How is it working for you living in Europe but investing in Florida?
[28:42] What is your opinion on recent news of Retail going away and never coming back?
[34:37] Do you have some fixed partners you work with? And are you still looking for partners to network with?
[38:24] How can people contact you or purchase your book?
[39:29] Closing remarks by Eric and Steven

About our Guest

Al_Auger_Albert Auger is a 30 year professional in the commercial real estate business. While he originally lived in the U.S. including parts of Florida, he is currently living in Europe while investing in Florida. He is an investor and author. His book is called,”Pure Profits: Pinpoint Winning Properties, Think Like an Investor, and Succeed in Commercial Real Estate.”

 

Albert can be contact via Linkedin.

Ep. 204 Eric Odum & Steven Silverman: Overview of Commercial Real Estate during COVID19

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Overview of Commercial Real Estate during COVID19

On today’s podcast Eric Odum and Steven Silerman give their thoughts and analysis on the Commercial Real Estate market during this COVID19 pandemic. They cover each asset class from retail and office to residential / multifamily to Industrial and everything in between.
While COVID19 has put the breaks on a lot of real estate activity, there is a light at the end of the tunnel. People are social by nature, and are ingenious. Business models are evolving and changing with the times to stay competitive. As Eric Odum stated during the podcast, “Don’t bet against people being people.”
Key Discussion Points
[01:01] Opening remarks by Eric and Steven
[04:11] Retail Asset Class
[08:58] Restaurants are getting bludgeoned due to COVID-19
[11:13] Office Asset Class – Current and future changes to the Office environment
[18:08] Residential & Multifamily Asset Class
[22:07] Industrial Asset Class
[25:07] Storage
[27:53] Student Housing & Education
[30:46] Hospitality Services (Hotels)
[31:59] When is there going to be a buying opportunity?
[36:10] Summary remarks by Eric & Steven

About our Guest

Eric Odum and Steven Silverman are the hosts of the Invest Florida Show.

 

Website: investfloridashow.com

 

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

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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_imageRod 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. 202 Beth Azor: Managing Properties, Tenants, and Banking Relationships during the COVID Crisis

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Managing Properties, Tenants, and Banking Relationships during the COVID Crisis

Today we talk with Beth Azor, founder and principal of Azor Advisory Services, as she shares her current experience with managing her properties, tenants, and banking relationships during this COVID crisis. Beth is facing the same fears and frustrations and many others in commercial real estate. What if I don’t get the rent? Maybe I can pay this month’s mortgage payment but what happens next month? 

Beth gives unique insight as a person that is involved in all areas of commercial real estate – retail, landlord, broker, property manager, and she’s able to provide a deep perspective on what the various people inside the industry are going through right now and how they’re coping and dealing with it. 

Key Discussion Points
[01:00] Opening remarks by Eric Odum
[04:10] About our guest: Beth Azor
[05:02] Give us an overview of your properties
[06:05] How are you dealing with your tenants right now?
[22:57] Are any of your tenants reacting in a very negative way?
[26:35] Why don’t think National deals are coming back until 2022?
[33:09] How are you dealing with the banks?
[45:54] How can folks find you and connect with you?
[51:03] Eric’s Closing Remarks

About our Host

Beth_Azor

Beth Azor is the founder and principal of Azor Advisory Services, South Florida’s premier retail real estate management, development and commercial real estate education firm. Beth is a broker, a property manager, an investor, a mentor, and a center of influence in the commercial real estate community. She donates hours of her time for the benefit of the industry and the retail world in general.

 

LinkedIn: Beth Azor