Working Capital Commercial Real Estate

Paul Moore is a returning guest on our podcast. He is the founder and CEO of Wellings Capital. Paul is the author of Storing Up Profits: Capitalize on America's Obsession with Stuff by Investing in Self-Storage. He is the go-to expert on investing in self-storage, and the king of profiting from storage units in America. In this episode we talked about: * Paul’s Background and Journey into Real Estate * Paul’s View on Self Storage * Raising the Capital and Finding Deals Operations Overview  * Investment Philosophy * Warren Buffett's Rules for Real Estate Investing * 7 Unique Paths to Commercial Real estate Investing Useful links: https://www.wellingscapital.com/resources The book by Paul Moore "Storing Up Profits" - https://store.biggerpockets.com/products/storing-up-profits    

Tyler Cauble is an Investor and Real Estate Developer in Nashville, Tennessee. He is the Founding Principal and President of the Cauble Group In this episode we talked about: Tyler’s Background in Real Estate Using Brokerage to break into Commercial Real Estate First Deals - Raising Capital Asset Classes  Interest Rates Nashville it terms of Investment Investing in Office Buildings Future of Hybrid Working Next 12-24 Months Real Estate Opportunities  Mentorship, Resources and Lessons Learned Useful links: https://www.youtube.com/c/TylerCauble?app=desktop Tyler Cauble Youtube channel  Book “WALKABLE CITY: How Downtown Can Save America, One Step at a Time” By Jeff Speck https://www.instagram.com/commercial_in_nashville/?hl=en Instagram Transcription: Jesse (0s): Welcome to the Working Capital Real Estate Podcast. My name's Jessica Galley and on this show we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, my name is Jesse Fraga and you're listening to Working Capital, The Real Estate podcast. Special guest on the show today is Tyler Cowell.   Tyler Cobble is an investor and real estate developer out of Nashville, Tennessee. He's the founding principal and president of the Cobble Group. And we had the pleasure of sharing a stage at Bigger Pockets, what was it, three weeks ago, Tyler?   Tyler (45s): Yeah, man, it feels like it was so much longer than that.   Jesse (48s): I know really well, first of all, thanks for coming on. It's, it's great to have you on the podcast. How you doing today?   Tyler (54s): Yeah, Jessie. Doing well, man. Thanks for having me on this show. I'm excited to dive in further into those topics that we kind of discussed at bigger pockets, you know, cause we only had, what, an hour or so to, to kind of talk about them a little bit. So it'd be good to go a little bit deeper. But yeah, man, excited to do this with you.   Jesse (1m 10s): Yeah, absolutely. Well, like all the guests that come on that, you know, on their first appearance, I always like to get a little bit of the flavor of your journey in real estate, how you got into real estate. I know we're somewhat similar in that at at one point I believe you're a commercial broker and we chat a little bit about that on stage. But yeah, for listeners, why don't you give us a little bit of a background in for yourself in real estate?   Tyler (1m 34s): Absolutely. Yeah, very similar background. So I started in commercial real estate back in the summer of 2013 as the in-house leasing agent for a local boutique development firm here in Nashville. And really just started off on, on shopping center and office leasing cuz the, the firm that I worked with had about 550,000 square feet of retail. We had about 60,000 square feet of office space and a couple hundred thousand square feet of industrial. But it was really a, a residential firm focused on, on

John Cochrane is an economist, specializing in financial economics and macroeconomics, the Rose-Marie and Jack Anderson Senior Fellow at the Hoover Institution. Previously John was a Professor of finance at the University of Chicago Booth School of Business and before that at the Department of Economics. Josh is also an author of the Grumpy Economist blog.   In this episode we talked about: John’s Background in Economics Interest Rates & Inflation Modern monetary theory  Milton Friedman Market outlook  Fiscal policy Macroeconomic Environment Useful links: https://www.johnhcochrane.com/ https://johnhcochrane.blogspot.com/   Transcription: Jesse (0s): Welcome to the Working Capital Real Estate Podcast. My name's Jessica Galley, and on this show we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, you're listening to Working Capital, the Real Estate podcast. I'm talking with John Cochran today. John is an economist and the Rosemary and Jack Anderson, senior fellow at the Hoover Institute.   He's a former professor of finance at the University of Chicago Booth School of Business, and the Department of Economics, and the author of a great fantastic blog that you should check out The Grumpy Economist. John, how you doing today?   John (45s): Good, thank you.   Jesse (47s): So we talked a little bit before the show, John, you know, the podcast itself, the listeners that we talk a lot about the kind of environment that we play in as entrepreneurs and real estate investors and that being the economy. And you have a up a book that, you know, I heard on another podcast the Fiscal Theory of the Price level, which will put a, a link to and despite the title and to scare anybody off. Maybe you could give a kind of an overview of first of all, maybe your background in economics and, and kind of the work you do, and then we could chat a little bit, a little bit about the book.   John (1m 22s): Great. Let's see. I'm, I'm economist and I've been thinking about money and inflation since 1982 and I've split my time between thinking about that and thinking about stocks and bonds. So money inflation, business cycle stocks and bonds and a whole bunch of other things. Being an economist is a wonderful thing because we, you can, you can jump from one thing to another and, and actually, you know, make real contributions in lots of places. The book is called The Fiscal Theory of the Price Level.   If you Google me and find my website, you'll find the book. You will also, the book is full of equations and designed to convince my fellow economists that they need to come over to this. There are some essays on the same website, which I re recommend. You start with, fiscal histories are particularly like no equations and tries to tell a different story about where inflation came from and where it's going in the US over the last, in the postwar period. The basic idea is where does inflation come from?   Not so much too much money chasing too few goods, but more importantly, too much overall government debt relative to what people think the government is willing and able to pay back. And if you're sitting on say,

In this episode we talked about: 2023 year for Investment How to get into Commercial Real Estate as an Investor Inflation Recession

In this episode we talked about: * Multifamily property in Toronto * 7 Plex * Raising Money for the Deals * Units Turnaround Transcriptions: Dave (0s): Everyone. Dave Debo with another episode of the Property Profits Real Estate podcast today zooming in from Toronto, a fellow Canadian, a multifamily investor, a podcaster, a YouTube channel guy, a bigger pockets contributor, an overall good guy, Jesse Frago. How you doing today, Jesse?   Jesse (30s): Dave, I'm doing great. Thanks for having me on again.   Dave (33s): My pleasure. So, Jesse, I'm excited because today we're gonna be taking a look at one of the deals that you and your team are actually working on right now in the multi-family space in Toronto and what you're doing with this property, how you're adding value to this property, and the difference that a couple of years can make. So why don't you give us a little bit of a backstory about the deal that we're, we're gonna take a look at today?   Jesse (59s): Yeah, absolutely. Well, like I said, thanks for having me on. I always enjoy talking to you, Dave. It's, it's been too long since last time, last time we spoke. So this property, it, it's a multi-family property in Toronto, so we did a capital raise for the property. So, you   Dave (1m 16s): Know, so just give us an idea. Toronto is, Yep. The most expensive market, I believe in Canada, right? Were that, or Vancouver, but their neck and neck, What size of a property was this and, and what are we looking at price point?   Jesse (1m 29s): So if there, you know, depending on the Canadian market, but for sure if you have an American listeners on, So the property we acquired for it was 3.5 million. The, this is kind of the surprising part. This is a seven unit builder.   Dave (1m 43s): Seven units, yeah. So seven. Got   Jesse (1m 45s): It. And, and if we sold it today, it would probably fetch something closer to 5 million. So now I, to caveat that this is a property in Forest Hill, which is one of the most expensive neighborhoods in, probably in North America, but certainly in Canada. So it's a little bit of a different animal. I would say that in Toronto, Vancouver, somewhat similar in the 300,000 to 400,000 per unit, those are pretty average prices, but this one being 500 or six, seven, it's because it's more of a boutique building.   So,   Dave (2m 20s): Very cool. All right. So this is definitely a, a high end kind of a property high end area. I guess the question would be is how are you guys adding value on top of that?   Jesse (2m 32s): Yeah, so one of the things was, number one, the first, you know, you, you make your money when you buy the deal. I think, you know, my relatives, number of my relatives told me multiple times and you know, you know, I'm, I'm in brokerage, so my day job is in the commercial real estate space. One nice aspect of that is when I do prospect as an investor, it's, it's not too dissimilar from that in that this was an investor, sorry, this was a vendor I called off market wasn't, they weren't planning to sell. And I basically, you know, laid out the fact that we're acquiring properties like yours and would you consider an unsolicited off no brokers?   You know, I'm a broker, but I always tell th

Eric Chadderdon is one of the founders and a Managing Partner with Gibby’s Capital Investments, a real estate investment firm headquartered in Dallas, Texas. He spent over a decade in direct sales and management before making the transition full time to multi-family real estate. He managed sales teams across the country and personally has hired and trained close to 1000 sales reps in his career, many of them are top level performers. He has now learned the ins and outs to multi-family investing, acquisitions, asset management, networking, and the process of due diligence. He’s made some of the strongest partnerships with other fast-moving, calculated, and successful real estate investment entrepreneurs.      In this episode we talked about: Eric’s Bio & Background First Real Estate Deals Raising Capital The ideal investment property Real Estate Debt De-Risking your Portfolio Mentorship, Resources and Lessons Learned Useful links: Book “Failing Forward: Turning Mistakes into Stepping Stones for Success” by John C.Maxwell Book “Raising Capital for Real Estate: How to Attract Investors, Establish Credibility, and Fund Deals” by Hunter Thompson Linkedin: https://www.linkedin.com/in/gibbyscapital-ec/ Facebook: https://www.facebook.com/eric.chadderdon https://gibbyscapital.com/ Webinar: https://gibbyscapital.com/webinar/

Neal Bawa is CEO / Founder at UGro and Grocapitus, two commercial real estate investment companies. Neal's companies use cutting edge Real Estate analytics technology to source and acquire OR build large Commercial properties across the U.S., for over 800 investors. Current portfolio of over 4800 units, with an AUM value (upon completion) of over $1 Billion In this episode we talked about: - Neal’s Bio & Background - Team Evolution - Neal’s view on today’s Real Estate Market - Real Estate risk - Lesson Learned for Real Estate Investors - Syndication - Signs of recession ahead Useful links: https://multifamilyu.com/ Webinar “The Impact of Inflation and Interest Rates on Real Estate”https://www.youtube.com/watch?v=vau-jpggStQ Transcription: Jesse (0s): Welcome to the Working Capital Real Estate Podcast. My name's Jessica Galley, and on this show we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, my name's Jessica Galley, and my guest today on Working Capital is Neil Bawa. Neil is a returning guest. He is the CEO and founder of Grow Capus, a commercial real estate investment company in the US with a billion dollar portfolio.   The Grow Grow Capus team acquires and builds multifamily and commercial properties across the US spanning over 10 states. How you doing Neil?   Neal (43s): Fantastic, Jesse. Good to be back on.   Jesse (45s): Yeah, it's great to see you. It's, it's been some time, I thought, you know, I thought we'd have you back on and, you know, we could talk about the, the last year or year and a half, I guess, since we last spoke, and we were just kind of joking around. Not much, not much of note has happened, so maybe it'll be a short podcast.   Neal (1m 3s): Oh, whoa. I I think we should break it up into 16 sections if you wanna discuss a year and a half, but we'll, we'll make it, we'll make it short and sweet.   Jesse (1m 11s): Yeah, no, fair enough. And that was all tongue in cheek. I know we've had quite a bit change since the, the last time we spoke. Not just, you know, in the economic environment, but in a lot of different ways with the dis different asset classes being affected differently in real estate. Perhaps what we could do is, for those that haven't heard, the first podcast that we had you on, I recommend checking that out. We talked a lot about analytics, about different areas in, in the states where you invest in, how you look at properties a little bit more on the acquisition side, so I encourage everybody to check that episode out.   But for those that have not, have not heard that one yet, why don't you give a, just a little bit of a background as to, you know, who you are and, and how you got into this industry.   Neal (1m 56s): Sounds good. So, I'm a technologist, geek or nerd, and I'm just trying to apply technology analytics and data science to real estate. And today it happens to be multi-family and build the rent that I'm applying it to. Who knows, two years from now, it might be something completely different. So I'm, I'm a fan of Big Data and how it can point you in the right direction and how few people actually use big data. People use Excel spreadsheets all the time to make decisions and that's really great, but Big data

Richard Chilcott is a Principal with the Avison Young Capital Markets Group providing acquisition and disposition services of investment properties to financial institutions, REIT’s, private investors and pension funds. Richard began his career in 1991 with Hans House Group, a private investment and development company based in London, England. Since joining Avison Young’s Toronto Capital Markets Group in 2001 Richard has been involved with transactions totalling in excess of $5 billion. In over 25 years of commercial real estate practice Richard has completed a wide variety of real estate transactions ranging from smaller private client businesses to more complex portfolio transactions   In this episode we talked about: Richard’s Bio & Background The transition from the USA to Canada First Notable Transaction Corporate Real Estate The Impact on Richard’s Business over the last 2 years Comparison between Surburban and Downtown Office  Interest Rates Environment Real Estate Industry Outlook Richard’s Advice to Beginners in Real Estate Mentorship, Resources and Lessons Learned Useful links: https://www.linkedin.com/in/richard-chilcott-946b5a3/?originalSubdomain=ca Transcription: Jesse (0s): Welcome to the working capital real estate podcast. My name's Jessica galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, my name's Jessica galley, and you're listening to working capital the real estate podcast. My guest today is Richard Chicot. Richard is a principal with Avis and young capital markets group providing acquisition and disposition services of investment properties to financial institutions, res private investors and pension funds.   Richard began his career in 1991 with the Hans house group. We now know that there's over 25 years of commercial real estate experience. And Richard has completed a wide variety of real estate transactions ranging from smaller private client business to much more complex portfolio transactions, Richard, how's it going?   Richard (1m 2s): Great. Thanks Jess. It's good to be here. That's a great intro. And it, it, it does seem like I've been here a long time. If you say   Jesse (1m 8s): 19 91, 19 91. So you you've, you know that it's funny, a lot of the investors, you know, you won't work with certain sponsors of deals unless you've been through some version of oh eight or 90, you know, their early nineties or some sort of recession to, to kind of understand that the, that we, we live in a cyclical real estate environment.   Richard (1m 29s): Yeah, it totally is cyclical. What we're in right now, I think is, is different and a bit more challenging. And I don't have a longevity for that. So I've actually been trying to find some sort of the people who are senior to me and some of, some of the mentors I've had over the years, days, what happens during inflationary periods. That's an interesting,   Jesse (1m 49s): Yeah, you don't, you're saying you don't remember the panic of 1907.   Richard (1m 54s): No, no. Although someone the other day suggested I should know what was going o

Ian Formigle Ian is a real estate professional and serial entrepreneur with over 25 years of experience in real estate private equity, equity options trading and start-ups.  Ian is Chief Investment Officer at CrowdStreet, overseeing its marketplace, an online commercial real estate investment platform that has completed over 650 offerings totalling over $25 billion of commercial real estate. Prior to joining CrowdStreet, Ian was VP of Business Development for ScanlanKemperBard Companies, where he managed the firm’s alternative investment platform and served as a senior acquisitions officer. Previously, Ian co-founded and served as CEO of Clarus Property Ventures, a regional real estate private equity firm that focused on multifamily acquisitions. Ian began his career as an equity options market maker and member of the Pacific Exchange   In this episode we talked about: Ian’s Bio & Background CrowdStreet Overview Asset Classes and Strategies Outlook in Real Estate De-risking Strategies for Real Estate Leverage Office Market Potential Best Places to Invest Ian’s Thoughts on Flow Company Useful links: Book - Rey Dalio “Principles: Your Guided Journal (Create Your Own Principles to Get the Work and Life You Want)” Podcast - The Prof G Pod with Scott Galloway: https://podcasts.apple.com/gb/podcast/the-prof-g-pod-with-scott-galloway/id1498802610 Contact Ian: https://www.crowdstreet.com/  https://www.linkedin.com/in/ianformigle/ Transcription: Jesse (0s): Welcome to the working capital real estate podcast. My name's Jessica galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, my name's Jesse Fraga. You're listening to working capital the real estate podcast. My special guest today is returning guest Ian for melee.   Ian is a real estate professional and C entrepreneur with over 25 years of experience in real estate, private equity, startups, and equity and options trading at crowd street in is the chief investment officer leading the office of the CIO division and is responsible for the overall strategy of the firm. Ian serves as a member of the crowd street, executive management team, and is responsible for the final review and approval of all deals that go live on the online marketplace. He's also chairman of the crowd street advisory investment committee, Ian, how you doing?   Ian (1m 3s): Doing pretty good, Jesse. Thanks for having me back on the podcast. It's a pleasure to be   Jesse (1m 6s): Here. Well, it's great to have you again, and we're just joking before the, before the podcast that not much has changed in the last 12 to 18 months. So this will probably just be kind of retread old, old hat.   Ian (1m 16s): Yeah, exactly. Nothing nothing's changed since February of last year.   Jesse (1m 21s): So for those that, that didn't catch the first episode, although it is, I think at this point close to a year, year and a half old, there's a lot of good information there on the company in general and the market and the outlook at that time. You're more than welcome to check that first episode out. But for those that didn't catch that one for listeners. Maybe you could give a little bit of a background o

Sheila Botting is Principal and President, Americas Professional Services at Avison Young that is an Umbrella for the Different Groups of Consulting, Valuation and Project Management. In this episode we talked about: Changes in the Commercial Real Estate Market Office from the Investor’s Perspective Avison Young’s Vitality Index Reducing Space  Occupiers Liabilities Tenant Inducement Complex Sheila’s Returning to Office Forecast  Hybrid Model Workplace Strategy Transcription: Jesse (0s): Welcome to the working capital real estate podcast. My name's Jessica galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, my name's Jesse Regal, and you're listening to working capital the real estate podcast. My special returning guest today is Sheila botting. Sheila is the principal and president America's professional services at Avis and young.   That is the umbrella for the different groups of consulting valuation and project management. Sheila has a, has had a number of different roles in the commercial real estate space spanning from her roles in executive management at Deloitte Kushman and Wakefield and Royal LaPage. Sheila, how you doing today?   Sheila (54s): I'm great. Jessie, how are you doing?   Jesse (57s): Doing fantastic. So the conversation today, I thought it was topical because I think the last time we spoke was the beginning of 2021. And so much has changed in the office and commercial real estate market in general. And I thought it would be great to have you back on to discuss those aspects and have the, and how they have changed. And I know that you have, you know, made these type of discussions and, and presentations with various outlets, wall street, journal, Harvard business review. So I thought you could do the same for us here.   Sheila (1m 29s): Oh, terrific. Thanks so much. So it's all about return to office. You can tell my back background. I have returned to the office today and, you know, two to three days a week, along with everybody else across north America around the globe. And I think that for, for all of us, it's sorting through how do we deal with return to office? What does it look like? What are the key pieces? How do we make it work for our businesses for us personally? How do we embrace this so that it's, you know, dynamic for people and way forward, what we've learned from all of this is it's all changed.   It's not going back, whatever back was, we're not in the nine to five work environment that we once were. Now, it's all about flexibility. It's about building our ecosystem. It's about navigating what it is that we need to do and how we do it. It's understanding, you know, different roles that people have and making sure that they've got the right tools, technology and physical spaces in order to deliver. I thought what I would do today in talking is, is I know you know about this, but to share with all of your audience, something called the vitality index that Avis and young uses across north America.   In fact, the globe, what we do is we measure cell phone data usage in downtown for 26 north American city. So what I thought I'd do is first level s