Tag Archives: Florida

Ep. 154 Frank Rygiel: These Construction Market Factors Are Affecting Your Real Estate Project

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So you’ve got all the fine details of your next real estate project or development squared away; from the planning stages to financing you’ve worked it all out. Now comes the easy part – building it…right?

While breaking ground on a development (commercial or residential) signals a final stage of the project for many investors, it does not mean your due diligence should end. In fact, there are several important things to consider when you actually start developing your property. You need to be aware of current construction market factors that could affect your project in a variety of ways. Neglecting these factors could mean the difference between a successful investment and a hard lesson learned.

Construction is a lot like real estate itself in that you need to understand that it does go through market cycles. The construction market is affected by both global and local factors that you need to track.

Construction Market Factors Affecting Your Real Estate Project

  • Increase in demand > construction labor supply
    • Shortage in skilled labor
  • Material escalations
    • Commodities price hikes via tariffs: 25% on imported steel, 10% on imported aluminum (with certain exemptions)
    • Domestic producers can’t keep up with demand
    • Seeing price hikes in metal and lumber across the board; concrete and masonry are more market-driven

About our Guest

construction market factorsFrank Rygiel is the Vice President and General Manager of Walbridge Construction‘s Florida division. Walbridge has been involved in Florida’s construction market for over 30 years. With offices in Tampa and Orlando they are active in and around the I-4 corridor and throughout the rest of the state.

As an active industry leader, Frank has managed numerous large-scale commercial projects in various asset classes. His experience spans a range of developments including educational facilities, corporate campuses, hospitals, aviation facilities and high-rises.

Contact Frank

frygiel@walbridge.com

 

Ep. 153 John Schaub: Earning Long Term Cashflow Through Single Family Tenants

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When you’re a single-family real estate investor, there comes a time when you need to start thinking about scaling your investing. The question at that point is whether to scale through a transition to other asset classes or continue to scale through single-family investments. While some investors find commercial and multifamily assets to jibe with their investment strategy, you may find that you can still build your SFR portfolio while earning long term cashflow through single family tenants.

Single family properties may not seem like the most direct path to your investment goals, but an investment strategy focused on earning cashflow through long term single tenants can prove to be successful.

Earning Long Term Cashflow Through Single Family Tenants

single family tenantsJust ask John Schaub. John is an active single family investor, landlord and author in Sarasota, FL. 

Getting his start in real estate as a broker, John initially subscribed to the notion that – in order to generate true wealth as a real estate investor – he would have to invest in commercial and multifamily properties. However, he soon found that these types of properties demanded a lot more work to maintain cashflow.

This episode, John talks the merit of single family properties as a way to earn long term cashflow. He discusses how stable, long term single family tenants can offer a (relatively) stress-free investment strategy.

Contact John

If you have more questions about how you can build cashflow through single family tenants, check out John’s book: Building Wealth One House at a Time.

If you have a potential deal you’d like to share with John, contact him directly through his website at johnschaub.com

 

 

 

 

 

Ep. 150 Jimmy Clark: Lawfare – ADA Compliance and Protecting Your Property from Punitive Damages

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As real estate developers and owners, we want to ensure functional accessibility to everyone coming in contact with our property. Whether you own a retail center, apartment complex or a single-family rental, you want to make sure that everyone has equitable access to a reasonable degree. ADA compliance helps investors to recognize what parts of their property need to have universal accessibility to allow for reasonable use for persons with disabilities or limitations.

But what happens when ADA compliance goes beyond reasonable accessibility?

Real estate investors of all asset classes are subject to punitive damages lawsuits on their property. More often than not, punitive damages claims arise out of an oversight in ADA compliance. Even if you take great care in ensuring ADA compliance in your property, there may be some small accessibility issue that was overlooked that could leave you vulnerable. Sometimes, it can be a simple technicality that results in punitive damages. Whatever the case, punitive damages can cost investors time and thousands of dollars to remedy.

ada complianceJimmy Clark is the Senior Vice President and Real Estate Practice Group Leader at Harden, one of the southeast’s largest risk management and insurance firms. Part of his job is ensuring that property owners aren’t hit with punitive damages from ambulance-chasing attorneys.

This episode, Jimmy offers up some quick pointers for property owners who may not be aware of the punitive damages risks awaiting their property. He tells us the common and not-so-common things you need to look out for in order to make sure your property is fully ADA compliant and protected from damages.

Contact: jclark@hardeninsight.com or 813-367-5609

Don’t miss this episode on ADA compliance and protecting your property from punitive damages!

 

Ep. 148 Rob Gidel: Lawfare – 1031 Exchanges & Net Lease Investments

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This episode is the first in our new ‘Lawfare’ series. We’ll be offering up shorter episodes focusing on the legal aspect of real estate investing.

1031 exchanges net lease investmentsOur first guest is attorney, Rob Gidel. Rob is a real estate attorney specializing in acquisitions, dispositions, development, financing and leasing. We’ve had Rob on the show once before and we’re glad to have him back!

This episode, Rob talks about net lease investments and using 1031 Exchange to purchase properties. He also shares tips for investors to avoid pitfalls.

1031 Exchanges & Single Tenant, Triple Net Lease Investments

A lot of multifamily and rental property investors love to use 1031 Exchanges to leverage new investments. If you’re not familiar, 1031 Exchanges allow for a deferral on capital gains tax from the sale of a property if the earnings are used to purchase another property.

However, some investors rush into buying a property on a 1031. This can get you into hot water if you don’t consider the purchase from an investment standpoint. If you purchase a property solely as a tax decision and not a financial decision, you may end up biting off more than you can chew. This is especially true for first-time investors of single tenant, net lease investments, or triple net leases.

Many investors who are new to net lease investments are enticed by the seeming ease of a long-term, single tenant. It may sound like an easy, hands-off investment strategy, but there are many nuances to triple net leases that make them complex.

Rushing blindly into an investment is never a good idea and net lease investments are no different. You do not want to miss this episode!

 

 

Ep. 146 Jenna Diermann & Lucas LeBlanc: Two Real Estate Investors’ Journey from Vacation Rentals to Multifamily

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Sometimes, embarking on the journey to becoming a real estate investor isn’t just a mental one – it can be a physical one too! It takes focus and vision to realize your real estate investing goals and that can mean stepping out of your comfort zone. That’s what our two guests this episode are doing and it’s paying off.

Lucas LeBlanc and Jenna Diermann began on their investment path when they started looking at ways to ensure financial freedom. With a goal to build a passive income portfolio consisting of both short and long term rental properties, Jenna and Lucas found that their home state of California didn’t afford them the opportunity to fully realize their real estate goals, so they landed on the Florida market, relocating to Tampa.

Jenna and Lucas have started DreamStone Homes with hopes to build a portfolio of vacation and multifamily rentals throughout the Tampa Bay area.

What makes these two so interesting is their drive and creativity. Since moving to Tampa earlier this year, the two have already started work on a single family renovation and are currently under contract for a mulltifamily property. By finding a unique niche, they have been able to focus their investment goals to actionable results. Jenna is a well-known DIY designer and decorator who’s work has been featured on several home and living platforms. By applying her special brand to their properties, they are able to find investments that work for them.

Listen to their investment journey!

Contact Lucas and Jenna:

Ep. 145 Rod Khleif: Putting Your Multifamily Investing Goals into Perspective!

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multifamily investing

Photo: Gregory Radford

The new year is a time for new resolutions. For real estate investors, that means setting investment goals. Like many New Year’s resolutions though, sometimes it can be hard to put investment goals into practice. If you’re a single family investor looking to make the transition to multifamily investing, the leap can seem like a big one. However, setting practical investment goals can help you organize and plan your strategy as you make the transition.

That’s why we’re so excited to have this week’s guest back on the show! In this special live event, Rod Khleif joins us for an inspirational multifamily investing discussion and Q&A session.

For a talk on putting your multifamily investing goals into perspective, we wouldn’t want anyone other than Rod. His wealth of experience as a multifamily investor and his enthusiasm for sharing that experience makes for an inspirational and motivational event; perfect for putting your investment goals into perspective.

This episode Rod discusses his real estate journey and how, by forming practical investment goals, he was able to focus his multifamily investing strategy.

About Rod

Investor, author and real estate investing mentor, Rod Khleif, believes in the power of actionable investment goals. Setting goals for himself not only inspired him to become a successful real estate investor, they also empowered him to forge his path with a focused strategy. Since then, he has devoted much of his time to helping others realize their investment dreams.

For more from Rod, visit:

 

Ep. 143 Kris Chana: Multifamily Investing with a Twist – The Untapped Potential of Assisted Living Facilities

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assisted living facilitiesWhat do you think of when you hear the term “assisted living facility”? Most of you are probably picturing nursing homes, with orderlies and nurses and fully-equipped medical wards… probably something that most real estate investors would consider too much to take on.

However, assisted living facilities and senior care complexes tend to get a bad rap, especially considering the incredible investment potential they hold. Instead of thinking about assisted living facilities as old-folks’ homes or nursing homes, investors should look at these facilities as what they really are: multifamily investment opportunities.

Kris Chana is a an assisted living facility investor who brings a unique look at how multifamily investing strategies can be applied to this often over-looked asset class. Kris, along with his wife, Chelsea Chana, are the owners and operators of Chelsea Place Senior Care in Charlotte County, FL, Kris understands the potential for returns on senior care facilities. In addition to a full-time assisted living facility, Kris and Chelsea also own and operate a senior daycare facility. They are pioneers in applying traditional, multifamily investing concepts to senior living and this episode, Kris will be sharing their story along with tips on how investors can get involved in this unique and largely untapped asset class.

Find out about the untapped investment potential for Assisted Living Facilities!

  • Not just an asset class for institutional investors
    • Roughly 70% of ALFs are individually owned and operated
  • Not nursing homes
    • Does not require major medical component
    • ALFs are largely private-pay
    • More hospitality-driven than medically-driven
  • Multifamily… with additional services
  • Large demand for assisted living facilities through incoming baby-boomer generation

Strong ALF Markets in Florida

  • Sarasota County

Contact Kris

By email: kris@chelseaplaceliving.com

Phone: (941) 883-6600

Web: https://chelseaplacecare.com/

 

Ep. 141 Brian Bailey: A Federal Reserve Commercial Real Estate Expert’s Outlook on Florida

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As part of the Federal Reserve’s wide scope of responsibility and oversight, the eight regional branches are tasked with monitoring residential and commercial real estate markets; tracking trends and data in order to more accurately adjust to market fluctuations affecting the economy. These studies provide hard data for the Fed to make economic adjustments, but they can also be a great gauge for real estate investors. Any successful investor will tell you that the ability to forecast changes in the real estate cycle is vital. As much as knowing your market and asset class, an awareness of other economic factors is important for mitigating investment risk.

The Federal Reserve Bank of Atlanta serves as the central bank’s regional authority for the southeast. It tracks real estate markets for the region, including Florida and offers comparisons on a national scale. Our guest this week is a commercial real estate expert with the Fed’s Atlanta branch.

Florida commercial real estate outlookBrian Bailey is a Senior Technical Expert in the Supervision and Regulation Division of the Federal Reserve Bank of Atlanta. Specializing in commercial real estate, Brian tracks and analyzes emerging trends in the southeastern region and provides thought leadership on commercial real estate and guidance for the central bank.

Brian brings a diverse background in commercial real estate finance and acquisitions to the Fed. He has over 15 years of experience in commercial real estate finance, having managed financing for millions of square feet in real estate holdings for several large-scale equity and development firms. Brian received an MBA with concentrations in Real Estate and Finance from the University of Florida and has earned a CCIM designation.

You won’t want to miss this commercial real estate outlook on Florida!

 

 

 

Ep. 136 Brian Willis & Gerry Tierney: Learn How Transit & Technology Changes Will Affect Your Property!

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automated transitTechnology is rapidly changing the way we look at the future. Innovations like automated transit are quickly nearing practical realities. In Tampa Bay, we’re seeing advancements in automated transit already, with the area being positioned as a proving ground for automated systems. Automation and other technologies will bring major changes to existing infrastructure.

No industry will be affected by these impending technologies more than real estate. From multifamily to retail, emerging technologies like automated transit will require an entire rethinking of real estate design and development. Urban planners, architects and developers need to consider these effects and start planning accordingly.

This episode, we discuss these changes on a local and national level. We look at what game-changing technologies are emerging and what urban planners and developers are doing to address these changes now.

Meet Our Guests

Tampa Bay sustainable transitBrian Willis is real estate attorney with Shumaker Loop & Kendrick. He is a leading advocate for integrated and sustainable transit in Tampa. Brian brings on-the-ground knowledge of the cutting-edge technologies here in Florida and how Tampa Bay is taking steps to integrate them into current real estate design and development.

 

real estate designGerry Tierney is an Associate Principal at Perkins + Will. Based out of San Fransisco, Gerry is a leading force for automated transit and mobility and adapting real estate design to suit these changing needs. He serves as the Co-Director of Smart Mobility Lab and has Collaborated with both UCLA – Berkeley and MIT in sustainability research.

Technologies Impacting Real Estate

  • Automated transit / autonomous vehicles
    • Autonomy integrating in public transit by 2020s
    • Subscription-based autonomous car ownership coming down the line

Future-proofing Current Real Estate Design

Urban planners, architects and developers needs to consider how current layout and designs will play into emerging technologies.

  • Adaptive Use
    • Big-box retail stores
    • Shopping malls
    • Existing parking structures
      • Vertical Parking vs. Horizontal
      • In-fill
      • Mechanized parking
  • Urban Design & Planning
    • Current developments built to accommodate automated transit
    • Changes to grid structure and street layouts
    • Rethinking asset classes
      • Industrial
      • Office
      • Multifamily
      • Retail

Resources

  • Contact Gerry at gerry.tierney@perkinswill.com or (415) 546-2933
  • Contact Brian at (813) 221-7165 or on Twitter @BrianWillisTPA