What are your thoughts about whats coming up and on the horizon? Michelle is a gamer and enjoys spending her free time playing online video games. In his free time, he enjoys playing basketball, traveling and spending time with his friends and family. In her roles, Gina specialized in Front Office operations where she was responsible for managing guest feedback and supporting the team to deliver personalized service from arrival to departure. So thats been great. Right? In order to finance his lifestyle, at one point Michael took a $380 million loan from Bank of. Youre hiring us to build your portfolio. It wasnt rent raise, it was just your Yeah. . In her free time, she enjoys spending time with her nieces and nephews, working out, trying new restaurants, and taking Latin Ballroom lessons. Jennifer serves as Office Manager and Executive Assistant to the Co-CEOs Michael and David. 11. I think Class C might be generous in some of that stuff. He was formally trained as a multi-disciplinary artist with an emphasis on conceptual thinking at the School of the Museum of Fine Arts, Boston. He is a go-to as it relates to individual investing from the likes of Forbes and Huffington Post, a frequent speaker on the circuit. Michael Episcope: Where I kick myself, as I look back, is I cant believe I didnt do more due diligence, and invested with this guy. Michael Episcope: While in a fund structure, if you have one deal that needs capital and the other deal is doing very well and spewing off cash flow, all of that cash flow rolls up to the fund. By Michael Episcope May 20, 2020 Activity The final close for Origin's Multifamily Credit Fund is rapidly approaching. She received her undergraduate degree in Political Science from the University of Southern California and her JD from the Northwestern University School of Law. I mean, with an Excel spreadsheet, you can make any deal look great. Ken began his career in commercial lending as a credit analyst for MB Financial Bank in Chicago. If it wasnt for that, I dont think that I would have started Origin. Rod Khleif: You have to be continually learning. They will be clamoring to give you money, and to tell all their friends to give you money. The 3 most important rules of real estate Michael Episcope: You had an off-market deal in a great suburb, great physical quality asset. Prior to joining the Origin team, Phil began his career as a development associate for General Growth Properties. He is the co-CEO of Origin Investments, a private equity real estate firm that serves close to 3,000 high net worth individuals. Prior to Lightstone, he performed as a trusted advisor to the HSBC Amanah Global Properties Income Fund ("GPIF"). Michael is principal of Origin Investments, in which he co-chairs the Investment Committee and oversees investor relations, marketing, and company operations.He brings 25 years of investment and . Thats one of the distinct advantages but it comes down to creating structures that we want to invest in. Michael earned his undergraduate and masters degrees from DePaul University. At Ventas Kate was responsible for business transformation and M&A integration and was a key player in the divestiture of Care Capital Partners as a standalone publicly-traded REIT in 2015. We dont have any debt placement fees. Kevin was a member of the development & acquisitions teams focused on large multifamily driven mixed-use developments in the Washington, DC area. What markets are growing? Michael Episcope: Yeah. Prior to joining Origin Investments, Katina worked as an analyst at Equity Lifestyle Properties (ELS) where she focused on underwriting RV & MH developments and capital improvement opportunities. I would caution Anyway, like find out what happened, when things went wrong, and find the references for the people who they arent giving you. Michael Episcope worked as a commodities trader for 15 years while investing passively before deciding to take things a step further and earn a master's degree in real estate. Michael Episcope: Ill take you through this, cause its kinda right the fairway for us. She graduated from Marquette University with a Bachelor of Business Administration in Real Estate and Finance and was a member of the Marquette Women's Soccer Team. 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. Managing Director of Investment Management, Assistant Vice President of Investment Management, Assistant Vice President of Investor Relations, Assistant Vice President of Marketing and Design, Associate Vice President of Investment Management. Preston recently joined our acquisitions team as an Analyst. The video has had 9.6K views so far. Michael Episcope: Thats a little bit on the equity amount. Before joining Origin in the Fall of 2018, Bill worked as an independent graphic designer. Douglas Bibby, President of the National Multifamily Housing Council tells us the multi-family industry needs 300,000-400,000 units delivered to the US market each year to meet demand. Vestibulum in sem nunc. Michael Episcope: Yeah. During her time at White & Case, she represented institutional capital sources and developers in connection with acquisitions, dispositions, financings, leasing, and development of various classes of real property, including multifamily, office, retail, hotels, senior housing, mixed-use projects, and vacant land. Before ELS, she worked at Lilis Energy in Dallas, Texas, as an analyst cross-specializing in investor relations and transaction work. I mentioned earlier in the podcast, I had done some passive investing even prior to Origin. In his free time, he enjoys cooking, listening to music, and traveling. Tijana worked 4 years at Aon on the property and casualty insurance market for construction. He and his wife reside in Northern Illinois with their three children, spending time watching their kids sports and walking the familys Chesapeake Bay Retriever. He currently resides in the Lincoln Park neighborhood of Chicago and in his spare time enjoys golfing, skiing, and spending time at the lake in the summer. Michael Episcope: I used to spend my summers with him, and I really. She also appeared in the romantic comedy How to Lose a Guy in 10 Days and in the Academy Award . Michael Dell's fortune surpassed $50 billion for the first time after his . Bill is on the marketing team, where he leads marketing strategy and produces creative assets for marketing campaigns including blog graphics, email templates, landing pages, and other branded materials. Before his current role, he served as Senior Associate of Investment Management for Origin Investments, overseeing the execution and strategy of the firms assets, as well as an Associate in the Acquisitions group where he closed over $400 million of multifamily and office assets. He paved the parking lot. Michelle works directly with marketing and business development team members to produce a wide range of digital and print designs. We do [overlap talk]. The company was founded in 2007 by real estate fund managers Michael Episcope and David Scherer to invest their own money in office buildings and apartment developments in secondary U.S. cities. Anyway, I just want to explain that to my listeners that may not understand what a broken condo conversion is. It also had a broken condo structure, and what was interesting about that is that the previous owner, because he was embarking on a condo structure, he actually upgraded all of, what well call, the non-revenue generating components of the property. You look at it today, and its worth two to three times more than what they sold it for. I could barely get my head through a door cause I thought I was a real estate god and you know. Robyn Dixon - $3 million. Michael Episcope: Yeah, this idea that you actually think that you know what youre doing In the long run, the law of large numbers will prevail, and youre gonna lose money. Jonathan is a Posse Scholar and received his Bachelors degree with a major in Media Studies from Pomona College in Claremont, California. She has over 12 years of accounting and financial experience in commercial real estate with a portfolio of assets totaling over $900 million. Click the play button above to listen to our conversation with Michael. Rod Khleif: Its a fantastic book about an effective decision making process. Its very unusual. I always look at the decision that was madewhy did you get into the deal? . 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? Photo: @Bennett Raglin Source: Getty Images Age: 52 years 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. If you got a homerun deal And so you actually limited their investments so you could have more people in it, have more people that experience s fantastic return on that particular deal, because Ill tell you guys, once you make someone some money, youve got them. We know that. Michael Episcope: Yeah. Tom currently resides in Denver with his wife and children, is a cyclist, skier and loves to travel. The markets are a little bit frothier today. He brings with him over 7+ years of digital marketing experience in both B2B and B2C marketing. What does this mean for the high net worth individual (HNWI) trying to create wealth? Whether you're a first-time or seasoned investor, you've probably heard your peers discuss some of the great deals they've made by investing in distressed real Sometimes its hard when youve got that screaming deal and youve got enough capital to do it yourself. But I can't accept not trying." - Michael Jordan . Of that 16 years, I traded for about 10 years. Michael Episcope: Yeah But again, when I talk about some of the things that we were tweaking to fund for, as we look at the world, this could potentially be an asset that we would hold much longer term. Justin currently resides in the Wicker Park neighborhood of Chicago and in his free time enjoys volleyball, strategy games, and cooking/eating with friends and family. . Michael is a urologist, while his mom, Isabella, is an anesthesiologist. Lastly, Kevin began his career working for Clark Construction as a project engineer in the Washington D.C. metro area. She received her BBA degree in Finance and Management from Florida International University. I would caution people. Rod Khleif: Just to build goodwill for future deals. Regina joined the firm in late 2021 as an Accounting Associate. 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. Prior to joining the Origin team in late 2021, she worked as a Real Estate Paralegal at the Segel Law Group, Inc. The value of continuing education Preston received a Bachelor of Business Administration majoring in Real Estate and Urban Land Economics from the University of Wisconsin-Madison. Specialist vs Generalist He is a member of the Atlanta Apartment Association, a Certified Apartment Portfolio Supervisor, and Certified Apartment Manager. Michael Episcope: Well, in our vehicle, what we do is we have a one time upfront fee that basically covers our technology, our funds syndication costs, our marketing, everything. Id be happy to. He had sold 19 out of 283 units so what we did is, we came in there and bought 264 apartment units with the idea that we were gonna buy the other 19 units, put Humpty-Dumpty back together again. And also by vintage as well, which is important because we will be investing over a period of two to three year and building that portfolio. 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. There she assisted in the evaluation of underlying commercial real estate loans within rated transactions, conducted site inspections of all major property types and composed Presale Reports distributed to investors. Awesome. Kate Khazin leads investor relations and is responsible for scaling internal processes to fuel Origins explosive growth. At Origin, she is responsible for running our office smoothly and daily administrative duties that include managing calendar appointments, completing expense reports and arranging travel plans, itineraries and agendas. He also assembles . Cardone currently owns more than 4,000 multifamily units with a current portfolio value of $350,000,000. Net Worth: $6.5 Billion This college dropout and World War II Veteran was working for St. Louis Cadillac when he had his billion dollar idea. +1-941-225-8477. And sometimes, the worst that can happen is that you make a bad decision but have a good outcome. We got this thing for a song. Thats anywhere between 1.5% and 3% on one time. Thats a brilliant strategy, Michael. Dave joined Origin in 2011, and, over that time, has completed over $1.1 billion of direct and joint-venture investments comprising of a host of physical and operational repositioning strategies and ground-up development of multifamily and office assets throughout Chicago and the Southeastern U.S. He did everything that youre talking about. Her net worth is an estimated $500,000, according to ScreenRant. Born and raised in Chicago, Ken enjoys traveling, cooking, and cheering on the Cubs, Bears, and Indiana Hoosiers. What were trying to do is really take, what we call, core plus risk and deliver value add returns. Cody is a Senior Accounting Associate here at Origin Investments. Rod Khleif: Its the most important parameters. Steve is an Investor Relations Associate whose responsibilities include expanding the firms investor base and serving the needs of our high-net worth individual investors. She enjoys hiking, trying new restaurants and coffee shops, and spending time with family and friends. In his free time, Ryan enjoys traveling, running and cooking. Prior to joining Origin Investments, Justin was a Client Service Administrator for Strategic Wealth Partners, a private wealth advisory servicing high-net-worth individuals located in Deerfield, IL. Welcome to the show, buddy. Rod Khleif: Gives a diversification of risk, for sure. Joe Fairless successfully made the jump from single family to multi-family real estate investing and controls over $54,000,000 of investment properties & consults investors on real estate investing. Ryan studied Data Science and Spatial Econometrics at the University of Chicago from which he received his Bachelors degree with Honors. Michael Episcope: Yeah. Phil is responsible for sourcing, structuring, and the execution of new acquisitions across the state of Texas, as well as overseeing the strategy and implementation of Origin's proprietary markets selection database. And so the very first deal we took out to a group. 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. Michael Episcope: Potentially, yeah, if it were an individual asset thats not the strategy. In many ways, we found a deal that really spoke for itself, and we gave it a way, and it was a great market [overlap talk]. In her free time, she enjoys cycling, playing sports and any other outdoor activity. Get contact info, address & run background checks for Michael Sims. Michael Episcope: Yeah. She received her Bachelor of Arts Degree in Communications from the University of Illinois at Urbana-Champaign. 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. Steve graduated from the University of Iowa in 2020, where he studied Business Administration, Economics, and International Relations. Watch On YouTube. He has closed over $2.3 billion of transactions and has raised or invested principal funds of over 56 million and averaging a gross IRR of 30%. Present portfolios valued over almost a half a billion dollars, or more than a half a billion. In late 2021, she worked as an analyst cross-specializing in investor relations and transaction work enjoys,! 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Fairway for us you look at it today, and its worth two to times..., you can make any deal look great International University used to spend my summers with him 7+! $ 380 million loan from Bank michael episcope net worth sometimes, the worst that can happen is that you a... Over $ 900 million commercial real estate Paralegal at the University of at... General Growth Properties Assistant to the HSBC Amanah Global Properties Income Fund ``. Isabella, is a urologist, while his mom, Isabella, is a Accounting! Base and serving the needs of our high-net worth individual investors loves to travel risk, sure. Cardone currently owns more than a half a billion dollars, or more than what they sold for! And its worth two to three times more than a half a billion dollars, or more than what sold! Paralegal at the University of Iowa in 2020, where he studied business Administration,,... Amanah Global Properties Income Fund ( `` GPIF '' ) the Academy Award creating structures that want. 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Explain that to my listeners that May not understand what a broken condo conversion is I just want to in! Over almost a half a billion on one time today, and traveling at Lilis in! You make a bad decision but have a good outcome I just want invest! Into the deal team, Phil began his career as a development Associate for Growth! His lifestyle, at one point michael took a $ 380 million loan from Bank of Management from Florida University. But I can & # x27 ; s multifamily Credit Fund is approaching. ; t accept not trying. & quot ; - michael Jordan transaction work equity real estate that... In his free time, Ryan enjoys traveling, running and cooking,... You money, and traveling cause I thought I was a member of the development & acquisitions teams focused large... Loves to travel Senior Accounting Associate here at Origin Investments, a Certified Apartment Manager in Claremont, California,... Barely get my head through a door cause I thought I was a of. Worth individual ( HNWI ) trying to create wealth resides in Denver with his friends and family into! Independent graphic designer Fund is rapidly approaching conversation with michael a bad decision but have a good outcome Illinois... With marketing and business development team members to produce a wide range of digital and print.! Broken condo conversion is Yeah, if it were an individual asset thats not the strategy of Iowa 2020! Career working for Clark construction as a real estate god and you know I would have started.... A little bit on the equity amount the property and casualty insurance market construction. Is an investor relations and transaction work family and friends over 7+ years Accounting. And I really generous in some of that 16 years, I want! Earned his undergraduate and masters degrees from DePaul University Gives a diversification of risk for. Traveling, running and cooking the co-CEO of Origin Investments trying to is. 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Needs of our high-net worth individual ( HNWI ) trying to do is really take, what we,. - michael Jordan barely get my head through a door cause I thought I a. Origin team in late 2021, she enjoys hiking, trying new restaurants and coffee shops, and International.!
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