Tom Wheelwright CPA, author of Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes (Rich Dad Advisors) discusses the greatest financial benefits to multifamily real estate investing. And thats what I was talking about. He received a Bachelor of Business Administration with a major in Real Estate and Urban Land Economics from the University of Wisconsin, Madison. Theyre fairly sophisticated but Id like you to break down why you like a fund versus individual syndications for specific properties. Preceding her most recent experience she was in the Mortgage Servicing Industry at Fay Servicing, Energy Monitoring & Consulting at Mad Dash, Inc.
Michael Episcope: Yeah, management of cash flow. Their drama-fueled relationship eventually ended up in divorce, but the Brazilian reality star's professional life took off. Origin builds, buys and lends to class A multifamily real estate, in a tax and climate-friendly state. Michael Episcope: As a passive investor, yes, it sort of getting my point. They will discuss Origin's first closed deal in. I mean, these are Rod, youre really experienced in this area as well, but these are little mini companies that you have. And sometimes, the worst that can happen is that you make a bad decision but have a good outcome. During the unpredictable Chicago winters, she tries to stay active and has found skiing and skating in the park to be her favorite wintertime activities. In this business, its really about selecting the right manager, the right people. Michael Episcope is Co-CEO of Origin Investments in Chicago founded in 2007. Rod Khleif: But you realize the long-term value of blowing these investors minds with these incredible returns. Therefore, American journalist Michael S. Schmidt has an estimated net worth of $2 million. And thats exactly what were talking about here. Cardones average ROI has exceeded 200% on 22, Chris Voss Author of Never Split The Difference Former FBI Hostage Negotiator. Michael Episcope: In our fund, we charge a 1.5% annual management fee on committed capital that ultimately reverts to invested capital. Category: Richest Celebrities Actors Net Worth: $350 Million Date of Birth: Sep 25, 1944 (78 years old) Place of Birth: New Brunswick Gender: Male Height: 5 ft 10 in (1.78 m) Robyn Dixon - $3 million. David is co-CEO, co-chairs the investment committee and oversees acquisitions and asset management. Michael Jordan's net worth is $2.2 billion. ", - David Scherer, Co-CEO of Origin Investments. In preparation for the Jan. 31 date, Origin Managing Directors of Liked by. Vinces responsibilities include expanding the firms investor base and serving the needs of our Registered Investment Advisor and high-net worth individual investors. In her free time, she enjoys cooking, traveling, and playing tennis. Can we actually improve it and get what we think? Rod Khleif: Sure. Ivette received her Bachelor Degree in Law Enforcement and Justice Administration in 2015 and obtained her Paralegal Certificate from an ABA Approved Program at the College of Lake County in 2021. 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. Michael Episcope is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. I always look at the decision that was madewhy did you get into the deal? "We believe that investors deserve the most talented and disciplined team to actively manage their real estate investing portfolio. Im not gonna do his bio or history any justice, so were gonna go right to you, Michael. His clients included agencies, startups, non-profit organizations in the arts, higher education, healthcare, social welfare, as well as entrepreneurial individuals. Access Your Free Copy Of The MF Property Checklist Now And Gain The Guidelines To Securing Your, MMXXII K L Promotions, LLC All Rights Reserved. All of a sudden, I came across this website where it was a hard money lender where this sponsors name was involved, and what he had done is took our property which was fine, wasnt underwater, it had plenty of equity, and he pledged it for a loan for another property. If fund for, look for changes coming up in that strategy, and more of a hybrid evergreen to buy-fix-sell to more of a buy-fix-hold. Tom has worked with the Origin team for over ten years and has fifteen years experience in the commercial real estate sector. Intrigued by countries and cultures, she enjoys traveling, live music and spending time with friends. .. Its the decision making that matters. No. 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. Michelle is a gamer and enjoys spending her free time playing online video games. He was responsible for evaluating, analyzing, and reconciling mutual funds, separately managed funds, and Real Estate funds to determine the Net Asset Value daily and to produce client month-end reports. 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. Very interesting. Ryan studied Data Science and Spatial Econometrics at the University of Chicago from which he received his Bachelors degree with Honors. It feels like yesterday that See, its very different. He was involved in the underwriting, assessment, management and liquidation of commercial real estate and recommendation of resolution strategies for non-performing loans. Id love to get your insights and your thoughts on Obviously, real estate goes though cycles. Webinar today at 11AM CT: Join Origin Co-CEO Michael Episcope and Managing Director of Acquisitions Dave Welk for our IncomePlus Fund webinar. Origin builds, buys, and lends to class A multifamily real estate in tax and . As one of Americas top real estate professionals Rod mentors business leaders and entrepreneurs through world-class speaking events, books, and training courses online and around the world. She is an avid reader, traveler and concert-goer. She enjoys creating bold, minimal styles by focusing her layout skills using typography and grids. Other names that Edsel uses includes Edsel M Episcope, Edsel Michael Episcope and Edsel A Episcope. Additionally, Dave was a member of the Portfolio Management group that oversaw the investment management and strategic direction for two separate account pension fund clients that had a combined asset value of more than $2 billion and comprised over 10 million square foot of multifamily, office, retail and industrial assets throughout the U.S.
Very impressive, buddy, I really appreciate you taking the time to be on the show. My first career was in commodities trading. He had five, six, seven deals that were all going south. I said, Oh my god, this looks like a homerun. And you dont know what you dont know, and at that time, I didnt have a tremendous amount of real estate experience. Rod Khleif: Right. He facilitated multiple events for Be The Match, a nonprofit organization founded to fight leukemia and other blood-related diseases. He was an Evans Scholar recipient at Michigan State University and is still active in the community, being a part of the alumni leadership council and alumni mentorship programs. Rod Khleif: Oh, gotcha. 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. Rod Khleif: Hey, my net worth went up $17 million in 06. You shouldnt be comparing returns. Michael Episcope: Right. If you get that right, then thats who you really want to put your money with, whether its a syndicate or a fund. Since its start in 2007, the firm has executed $1 billion in real estate transactions and has more. And we understand that that is just as important as generating returns and letting investors know how youre doing it. Actress best known for her role as Dr. Cleo Finch on TV's ER. I know you do multifamily and office but obviously our focus is multifamily, but talk about how you get going. 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. We started talking about that before we started recording. Prior to joining PRG, she served as Financial Analyst for DBRS, a credit rating agency for commercial mortgage-backed securities, from 2015-2017. Here's a quick recap of the top 30 richest athletes in the world in 2022: Michael Jordan; Vince McMahon; Ion . He is an accomplished French horn player, contemporary art collector and competitive recreational cyclist. He oversees the strategy and execution of property-level business plans. At Morningstar, Melissa set the marketing communications strategy to drive demand for an extensive line of products for financial advisors, including software, events and investment management services. There he led operations with his 11-years of experience in leasing & marketing, value-add construction management, property management technology, and training. But we have adopted an institutional fee structure. Maria serves as a marketing associate at Origin, working with and supporting all marketing channel owners. There she assisted in all real estate transactions, including Residential and Commercial properties. Kevin was a member of the development & acquisitions teams focused on large multifamily driven mixed-use developments in the Washington, DC area. Prior to Centro, Geoff spent over a decade in marketing for higher education institutions, non-profits, and startups. Kyle lives in The Nations neighborhood of Nashville. With Daves leadership, Origin has executed more than $2.6 billion in real estate transactions. Well, I heard somebody else bring this up. This was fantastic. Before joining Origin, he was the Digital Marketing Manager at Evolve Healthcare Marketing, which partnered with the nations leading private equity-backed healthcare businesses. Michael Episcope: Yeah. Prior to Origin, Daniel worked as an auditor at Grant Thornton, working on clients in the auto and medical manufacturing field space. Michael is co-CEO of Origin Investments, co-chairs the Investment Committee, and oversees investor relations, marketing and company operations. Heres some of what you will learn: Rod Khleif: What other fees? Prior to joining Origin, Spencer began his career as an Analyst at Blue Vista Capital Management. Michael Episcope is also a principal and co-founder of Origin Investments. What is the proper cap rate? Michael Episcope: Trading, and other backgrounds as well. Her net worth is an estimated $500,000, according to ScreenRant. Some things he enjoys in his spare time are playing golf, spending time outdoors, skiing in the winter and heading to the lake in the summertime, as well as, cheering on Marquettes basketball team. Garrett received a Bachelor of Arts with a major in Economics from Indiana University. How you got to this incredible success that youre at right now? 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. Michael Episcope: And its definitely helped kind of launch, and propel the firm. . When I look back, I could look at a deal, and I was trying to evaluate people, and he was vouched for by a good friend of mine, but you fast-forward a couple of years and we went into very bad times. Click the play button above to listen to our conversation. We bought an asset in Naperville, Illinois. As it stands today, we are buy-fix-sell, so typically the average hold-period is probably three and a half years. Tune in next week for our next show. He loves cheering on the Wisconsin Badgers and is passionate about all things automotive. Rod Khleif: Let me ask you this, you find an A-minus asset, or a B-plus asset, its not like the heavy reposition that you would do on a C-asset where youre going in and completely redoing the interior and all that. During the summer, Grace enjoys biking along Lakeshore Drive and makes the most of the big city by exploring new places, museums, parks, restaurants and festivals. David Scherer formed Origin Investments in 2007, along with co-founder Michael Episcope. Prior to joining Origin, Preston began his post-graduate career as an Analyst with Rialto Capital. By Michael Episcope May 20, 2020 Activity The final close for Origin's Multifamily Credit Fund is rapidly approaching. In his free time, he enjoys playing basketball, traveling and spending time with his friends and family. Rod Khleif: Right. What did you do to get out there and meet people, and get them excited about what you were doing? Ivette serves as a Paralegal here at Origin Investments. The ones that didnt go so well, I learned quite a bit. Spencer received a Bachelor of Science in Business majoring in Finance and Real Estate from Indiana University. Twenty per. Total assets under management, $2 billion. Before joining Origin in the Fall of 2018, Bill worked as an independent graphic designer. She is instrumental in executing marketing campaigns to drive new investors for our private real estate funds. Michael Episcope: Yes, we got together in 07, and in the beginning, in the first two years, it was all our own capital. If we have two or three deals that dont perform, and the fund only generates 8%, we dont get paid a performance fee. Is it just bad real estate? Grace enjoys cooking, singing, painting and traveling. She lives with her husband and son in Hinsdale. Michael Episcope: Were in Chicago, Denver, Dallas, Austin, Houston, and then Charlotte, Raleigh, and Atlanta. Within her years of real estate Executive assistant experience, she helped maintain communication with all parties. I assume theres an asset management fee What other sorts of fees can a person expect in a vehicle like yours? On March 21, 2017, Michael launched his YouTube channel with the video "It's SO HARD being a WHITE person.". He also enjoys performing sketch and improv comedy at the Second City. One of his breakout roles came in 1982 when he began portraying Alex P. Keaton on Family Ties. Michael is admitted to the Illinois Bar and the Northern District of Illinois. And again, we feel that that is an institutional pricing standard in the business. Michael is a urologist, while his mom, Isabella, is an anesthesiologist. He is an avid outdoor hobbyist and ultramarathon runner. Its not so much as simplifying and saying, Heres the physical asset, and this is it. Theres a lot of ways that you can really get your face ripped off in this industries. Prior to Origin, Victoria worked at US Bank within the Wealth Management Division as a Portfolio Administrator II. I love it. Rod Khleif: People from your trading background. Prior to joining Origin Investments, Dave spent six years at Deutsche Banks global commercial real estate investment and advisory division known as RREEF. I would caution people. They had never been touched since the early 80s. Those of you that are doing your own syndications, do not short-circuit that process. 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. If 10 do well and 10 dont do well, youre paying a performance fee on the 10 that do well in that structure because your performance fees arent cross-collateralized at the fund level. The most important parameter to consider for market selection Give us an idea of what sorts of things you might do to add value to a nicer asset like that. Jennifer serves as Office Manager and Executive Assistant to the Co-CEOs Michael and David. 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. What were the decisions? His primary profession as a comedian has allowed him to amass enormous wealth. Top line. Stephanie's Voice career has been on and off, but fans think of her as a regular due to her . Michael Episcope: Rod, just to back your other point, we talked about fund advantage, one of the nice things, if you have an individual deal, and it goes bad, you cant borrow from another transaction to ride the ship in that deal, cause chances are you have different investors across. a private equity real estate firm serving nearly 3,000 high-net-worth individuals. Its really Its everything we look for but its a good quality asset. Ken joined Origin in 2018 as an Associate on the Investment Management team. Taking into account various assets, Michael's net worth is greater than $499,999; and makes between $150 - 174,999 a year. Right? "A benefit of investing in real estate is that if I buy a property for $100,000, I know tomorrow it won't be worth $0, which is a real possibility with other forms of investing." . 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. Dave is married, has three sons and lives in the Cotswold neighborhood of Charlotte. In that role, Dan facilitated the internal and external movements of custodial accounts to other IRA custodians. And thats really where I built my wealth. Michaels done pushing a billion dollars worth of transactions, with a B. Prior to joining the Origin team in November of 2021, she worked as a Real Estate Executive Assistant/Office Manager at Realty Of Chicago. We sort of stopped and said, Look, we can take this down with our own capital but what do we want to be when we grow up. 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