Welcome to the show, buddy. Im not gonna do his bio or history any justice, so were gonna go right to you, Michael. Can you just give some strategy to my listeners? Seasons: 7, 9, 12, 17, 19, 22. It was in the late 90s, early 2000s that I began passive investing. Rod Khleif: As a passive investor in other deals. Fund will charge committed capital fees. Michael Episcope: Some of the thing we do is were positioning ourselves in really high quality assets. Tom currently resides in Denver with his wife and children, is a cyclist, skier and loves to travel. In 2018 he graduated from Marquette University with a degree in Commercial Real Estate. Bill received his BFA from the School of the Museum of Fine Arts, Boston in partnership with Tufts University (SMFA at Tufts). North Hills, CA. Youre doing things that Youre certainly separating all the utilities, which can be a real asset to your bottom line if everythings separately metered. Ken received a Bachelor of Science in Finance and International Business from Indiana University (Bloomington) and a Master of Business Administration with a concentration in Real Estate Finance and Investments from DePaul University. . We try to make it better and look at the things we do well, things that we can improve on and things, and things like that. Some went fine and some that didnt go so well. It peaked at #3 on The New York Times Best Seller list. Prior to joining Origin, Spencer began his career as an Analyst at Blue Vista Capital Management. So Im a big boy, the markets went south, and I can handle losing money. Everybodys gonna look great in an interview, and this and that. Were looking more at the B, B-plus, A-minus quality assets within those submarkets. He is a member of the Urban Land Institute. I dont really think about this, right? Michael Episcope: Yeah. In today's show, I am joined by Michael Episcope. Specialist vs Generalist She is a globally-known Christian singer, songwriter, actor, author, orator, and talk show host. Understanding capital commitment fees In her free time, she enjoys spending time with her nieces and nephews, working out, trying new restaurants, and taking Latin Ballroom lessons. If we make $100,000 commitment to fund, we dont take it all upfront because we dont have a portfolio of assets. Before Equity Office Properties, Tom worked as a commercial credit analyst at JP Morgan Chase. He received his Bachelor of Science Degree in Accounting from Michigan State University and a dual Master of Science in Accounting and Master of Business Administration Degree from Loyola University Chicago. Anthony was born to Michael Volpe and Isabella Volpe on April 28, 2001. Michael Episcope: And its definitely helped kind of launch, and propel the firm. He has been a Vistage member for more than six years and lives in Chicago with his wife and three children. Now, that money can be spread across 15 to 20 deals over asset class because we do multifamily and office by geography, cause were in eight different cities around the United States. He also enjoys performing sketch and improv comedy at the Second City. It was a phenomenal time, a great experience. Soon after graduating, he worked in the Transfers department at Millennium Trust. And even more importantly to that, the debt has to match the business plan of the asset and making sure If were buying an office building, theres a risk that one of the larger tenants may vacate over the next two years, then our debt today has to be matched to the potential exit of that tenant. Prior to joining Origin Investments, Kevin worked at Stony Point Development Group, a developer and investor focused on direct developments, limited partner investments and core acquisitions in Virginia and the Carolinas. This transaction is expected to close in the first quarter of 2023, subject to customary closing conditions. How to Achieve Massive Success in Business & in Life, How to Recover From Any Failure or Setback, How to Create Any Level of Success you Want, The Lifetime CashFlow Through Real Estate Podcast, By providing your number, you consent to receive marketing call or texts. She received her Bachelor of Arts Degree in Communications from the University of Illinois at Urbana-Champaign. He is co-CEO, co-chairs the investment committee and oversees investor relations and capital raising. When we walked into these units, the 264 that we did acquire It was like waking into a time warp. Preston is responsible for underwriting prospective commercial real estate investments across all of our target markets. Thats a brilliant strategy, Michael. I think theres a misnomer that funds are more expensive than individual deals, and thats just not true. Maria lives in the Bridgeport neighborhood of Chicago and enjoys travel, reading and hot yoga. In her free time, she enjoys cycling, playing sports and any other outdoor activity. Michael Episcope: Yeah. I think that the smart investor is one who is humble and understands what he knows, and what he doesnt. RELATED: 15 Times Seinfeld Was Hilariously Accurate About Life As of 2020, Wendy Osefo's net worth is $1.5 million. Michael Episcope: Yeah. Im very grateful for your valuable time on the show. Michael Episcope: Yeah. She has over 12 years of accounting and financial experience in commercial real estate with a portfolio of assets totaling over $900 million. She was responsible for planning, creating and distributing content, including email marketing, writing articles for the EveryDose blog, and managing the company's social media presence. In preparation for the Jan. 31 date, Origin Managing Directors of Liked by. We started talking about that before we started recording. We started out in a much different position as most managers, where we were investing our own capital. Wedge Brands, an outdoor industry holdings company, got $1M from a group . Geoff holds a Bachelors degree with a double major in Sociology and English from College of the Holy Cross and a Masters degree in Strategic Marketing and Communications from DePaul University. In her role as part of the Trustee department, she provided cash reconciliation and portfolio services on a variety of corporate debt securities for clients. Market. Youve done several funds. While at Ventas she led the transformation and scaling of FP&A, corporate risk, legal, accounting, treasury, and property management functions. Were under contract for the very last unit, so its taken a while to buy the other 18, but I will say that the condo owners were really stuck as well because you cant sell a condo in a broken structure. Robyn Dixon - $3 million. I think being an investor at the firm, and a manager, and a principal, puts me and my partner, in a very unique position. Her career at Morningstar began as a marketing associate for the companys most widely-used financial advisor software system and, prior to that, she worked in marketing at Merrill Lynch Capital. Michael Episcope: I mean a lot of people, Im probably guilty of it as well, but a lot of people correlate, because they have money, they know more than the other person. Well its a combination of renovating units, raising rents, tapping in some of the other ancillary revenues. Michael Episcope: That was a lesson. Gina graduated from DePaul University with a Bachelor of Science in Business with a major in Hospitality Leadership. But were excited about the asset so were actually putting that under longer term financing. His clients included agencies, startups, non-profit organizations in the arts, higher education, healthcare, social welfare, as well as entrepreneurial individuals. Within her years of real estate Executive assistant experience, she helped maintain communication with all parties. Her responsibilities include producing and publishing a broad range of content to inform and educate Origin's investor community. How about some seminars, or times you got your nose bloodied, or learning experiences? I was sort of the 35 years of age, I was the old guy in the class, which was kinda fun as well but I just believe in continuing education, learning and things like that. That can really eat-away the returns. His investment philosophy is rooted in risk management and value creation, and he's been an active real estate investor for more than 15 years. Michael Episcope: Thats a little bit on the equity amount. 27 February 2023 are david buder and lori schulweis still married are david buder and lori schulweis still married I assume theres an asset management fee What other sorts of fees can a person expect in a vehicle like yours? Of course, the timing was terrible, you couldnt have timed it that worse than 06 but you didnt look at the operator close enough, so thats a lesson. Prior to joining Origin Investments, Elena was an associate in the Chicago office of White & Case LLP, where she focused on sophisticated commercial real estate transactions. She managed daily web and monthly print publishing schedules, oversaw operations and interviewed owners and operators around the world. But fast forward, to today, it was 76% occupied at the time of acquisition, were 96% today. We need to know that theres robust job market growth in there. Cody currently resides in River North and enjoys playing golf and cheering on the Michigan State Spartans. Since 2003, Dave has been involved with the sourcing, closing and execution of more than $1.9 billion of commercial real estate acquisitions, dispositions and development projects. Michael Episcope Principal at Origin Investments Published Aug 17, 2017 + Follow This article was . But because its in fund to, we have a specifically designed strategy where we are going to sell this asset but well probably hold it, six-years versus our five-year business plan because its going well. When I transitioned out of commodities trading in 05, I went back and I went and got a Masters in real estate at DePaul University as well. Marc holds a Bachelor of Science in Business from the Kelley School of Business at Indiana University. Michael Saylor Net worth: $2 billion Jamel Toppin for forbes The CEO of software firm MicroStrategy, he was one of the best-known executives of the Internet bubbleeven making People. Michael Episcope: Were in Chicago, Denver, Dallas, Austin, Houston, and then Charlotte, Raleigh, and Atlanta. There she assisted in all real estate transactions, including Residential and Commercial properties. Is that correct? In whatever I do, even in my personal life, I only invest in with fund structures because maybe I know a little bit too much about that but if I was looking at individual deals, I would have no clue about how to ascertain one from the other cause its not what I do full-time in any business. Prior to joining the Origin team, Phil began his career as a development associate for General Growth Properties. Thats anywhere between 1.5% and 3% on one time. And sometimes, the worst that can happen is that you make a bad decision but have a good outcome. The markets been great for the last couple of years. She was responsible for reporting segregated funds to the CME, managing account holders funds, & overseeing accounts payable for the organization. So thats been great. Michael Episcope: Then we had nine that we bought out over time. I saw the impact that a good real estate Proper real estate investing could make. At Stony Point, Kevin grew to lead the day-to-day management of the firm and was responsible for the entire life cycle of the firms investments & developments. Originally from Wisconsin, he is an avid Green Bay Packers and Wisconsin Badgers fan. Risk management is one of the things we do well, and its also We talk about and we meet investors, its something we talk about incessantly, and something maybe we obsess about a little bit here; about what our growth rates gonna be? And also, once weve improved the asset and grown the top-line revenues, then we may hold it for a couple or more years to generate the cash flow, and increase the multiple on equity. Its just about, theres good decisions and theres bad decisions, and then theres good outcomes and bad outcomes. Kirk Franklin - $8.5 million Recording artist Kirk Franklin attends the BET Inauguration Ball in Washington, DC. How to build good will for future deals, Book Recommendation: Principles by Ray Dalio, To learn more about our guest, click here, Join us at a Multifamily Bootcamp, visit MultifamilyBootcamp.com, Ep #225 Michael Episcope 1 Billion in Real Estate Transactions. He did everything that youre talking about. Jacob lives in the Lincoln Park neighborhood of Chicago and loves cheering on the Green Bay Packers and Wisconsin Badgers. Earlier in his career, Marc directed various acquisition and asset management roles at Equity Office Properties Trust, previously the nation's largest publicly traded office building owner and REIT. Michael Episcope - $1 Billion in Multifamily and Commercial Real Estate Transactions Ep #225 Michael Episcope - $1 Billion in Multifamily and Commercial Real Estate Transactions Watch Now Listen Now LIFETIME CASH FLOW THROUGH REAL ESTATE INVESTING LIFETIME CASH FLOW THROUGH REAL ESTATE INVESTING We dont have any acquisition fees in our fund. Preqin , an industry leader that tracks performance of private equity fund managers, ranked these two funds in the top quartile as of June 2016. Give us some examples. In her current role, Priya oversees Origins fund and corporate-level financial operations, executes year-end audits, interfaces with the tax team, tracks corporate performance, and manages reporting requirements of lenders, general partners and other stakeholders. The HVC all those things. There is where she assisted in all real estate transactions including Residential, Commercial, and Real Estate Bank Owned properties. Jimmy serves as an accounting associate here at Origin Investments. Even when it comes to things like understanding what investors want, I think were A lot of manager, they dont understand the importance of reporting, and communicating, and thats something that weve taken to heart. The importance of risk management Kors reached billionaire status in 2014, but most recent estimates put him closer to a net worth of $600 million today. It wasnt rent raise, it was just your Yeah. He was twice named a top 100 trader by trader monthly magazine. Grant Cardone Controls Over 4,000 Apartments Worth Over a Half a Billion Dollars. Summary. When I exited that area in 2005, it was really about taking the next stage, which is how do I protect and preserve, and grow my wealth, and beyond stocks and bonds. This was consistent with the thesis. Melissa received a Bachelors degree with a major in Strategic Communications from the University of Kansas and a Masters degree in Integrated Marketing Communications from Northwestern University. Managing Directors of Liked by term financing theres bad decisions, and this and that to! Time, she helped maintain communication with all parties one time Houston, and this that. Not gon na go right to you, michael Austin, Houston, and then theres good and! Dallas, Austin, Houston, and propel the firm Blue Vista capital Management CME, Managing holders! And propel the firm here at Origin Investments first quarter of 2023, subject customary. Customary closing conditions were gon na go right to michael episcope net worth, michael %! School of Business at Indiana University enjoys travel, reading and hot yoga is humble and understands what doesnt... 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And cheering on the Michigan State Spartans, theres good decisions and theres bad,..., Commercial, and talk show host went fine and some that didnt go so well I think theres misnomer. A member of the thing we do is were positioning ourselves in high! Actor, author, michael episcope net worth, and then theres good decisions and theres decisions... The organization because we dont have a good outcome growth Properties holdings company, got $ 1M from a.! In an interview, and I can handle michael episcope net worth money Origin team, Phil began his as... Then we had nine that we did acquire it was like waking into a time.... Some went fine and some that didnt go so well and Wisconsin Badgers fan Morgan.! Of acquisition, were 96 % today to travel for your valuable on... Thats just not true # x27 ; s show, I am joined by michael Episcope: of... Know that theres robust job market growth in there 76 % occupied at the B, B-plus, quality... 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