You shouldnt be comparing returns. Prior to Stony Point, Kevin worked at KETTLER, a leading investor, developer and property manager based in Virginia. If I look back in the deals that I regret the most is This business is about people; its not about the just the asset. No. If that would have turned out great and I wouldnt have founded it and maybe I would still be a passive investor today, but I just looked at it and said, I can do better than this. And my partner and I came to the same conclusion and said, Lets do this. [overlap talk]. Prior to joining PRG, she served as Financial Analyst for DBRS, a credit rating agency for commercial mortgage-backed securities, from 2015-2017. He paved the parking lot. Victoria joined the firm in late 2021 and serves as an investor support specialist. 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: Some of the thing we do is were positioning ourselves in really high quality assets. Understanding capital commitment fees 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. Taking the leap into entrepreneurship, Taylor started a company that provided replacement cars to people who had suffered stolen or damaged vehicles. In 2020, Schmidt penned the book - "Inside the Struggle to Stop a President.". 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. But I can't accept not trying." - Michael Jordan . He is co-CEO, co-chairs the investment committee and oversees investor relations and capital raising. Frank McKinney: Real Estate Artist, 5-time International Bestselling Author, superhero meets Robin Hood, Philanthro-Capitalist, Ultramarathoner, Actor, and Visionary who sees opportunities and creates markets where none existed before. When we went out, this was in 2010, and it was crazy times then and this was We syndicated some smaller deals prior to that but we had a good network. I started hearing things through my friend, and some of the projects that he was involved. a healthy allocation to alternatives in an ultra-high net worth investor portfolio is attractive, because you get basically higher risk-adjusted returns when you go . I believe that value add is a way to protect yourself from future downturns. Thats not what happened here; what happened here was that he was an individual syndicator without a lot of money of his own. Rod Khleif: You have to be continually learning. I really wanna flag that for you, guys. And thats exactly what were talking about here. Gwen Stefani. Then in April 2016, she joined the Origin family. If you try to be a generalist, frankly in any business In fact, I just preached about this in my live event, How to Think and Grow Rich Napoleon Hill said, The key to success is specialized knowledge. You have to be a specialist. I saw the impact that a good real estate Proper real estate investing could make. Grant Cardone is an award winning author, sales guru, motivational speaker and success coach. She enjoys creating bold, minimal styles by focusing her layout skills using typography and grids. Before Metropolitan, he worked as a Hedge Fund Consultant at Aon Investments. Michael is joining us from Chicago, Illinois. 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. Lastly, Kevin began his career working for Clark Construction as a project engineer in the Washington D.C. metro area. As of 2021, Michael B. Jordan's net worth is estimated to be around $25 million. Prior to joining Origin, Gina worked for some of the leading luxury hotel brands, including the Peninsula Chicago and Fairmont Grand Del Mar, San Diego. She strives to discover the finest solutions to all design problems. 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. Im very grateful for your valuable time on the show. Thats a big clue guys. Once you figure out how much money Michael Alan Singer is making everyday, it is much easier to estimate Michael Alan Singer's Youtube net worth! 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. In 2018 he graduated from Marquette University with a degree in Commercial Real Estate. Originally from Portland, Oregon, Elena now lives in the Andersonville neighborhood of Chicago. We pulled our capital together, and we built a firm. Net worth: $150 million. Theres nuances behind here but what it comes down to is this notion of alignment. Kate joined Origin in 2021 after a tenure at Ventas, a S&P 500 company and a leading healthcare REIT. He oversees the strategy and execution of property-level business plans. Prior to joining Origin, Vince worked at Duff & Phelps where he conducted business enterprise and intellectual property valuations for use in the corporate acquisition process. Founded in 2007 by David Scherer and Michael Episcope, Origin is a leading manager. Rod Khleif: Awesome. 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. Tijana also has experience as a residential sales broker where she was able to help several first-time homebuyers and investors. Rod Khleif: Right. Michael Episcope: Well, thank you for having me on the show. 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. What were trying to do is really take, what we call, core plus risk and deliver value add returns. Rod Khleif: Yeah. Kevin resides in Charlottesville, VA, where he enjoys golf, traveling, and cheering on DC sports. Yeah, and it was our second asset in Naperville. Michael Episcope: Yeah. We both had a lot of good friends; high net worth. Prior to joining Origin Investments, Tommy worked as a Private Capital Manager at Metropolitan Capital where he was responsible for managing existing client relationships and underwriting new credit facilities within the organizations commercial banking team. Within her 5+ years of real estate paralegal experience, she assisted in maintaining communication with all parties involved within the transaction, contract negotiations, draft closing documents, clear title, prepare leases, complete any municipality and obtain necessary permits. 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. But it was, I think, at that time when we were 60% leveraged. . Michael Episcope: Then we had nine that we bought out over time. 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. 6. 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. . Reputation Score: 2.59 - 3.76. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Michael Episcope: No, but I have it on my desk, my partner [overlap talk]. Justin graduated from DePaul University in 2019 and earned his Bachelor of Science in Finance. Michael Episcope: I think what I fell for was the deal itself. Michael Episcope: Its a capital commitment fee. Kevin was a member of the development & acquisitions teams focused on large multifamily driven mixed-use developments in the Washington, DC area. Everybody knows my $50 million seminar in 08, and Ive been through other cycles as well that were equally impactful, negatively impactful. He is an accomplished French horn player, contemporary art collector and competitive recreational cyclist. The investments been going very well on that side. 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. Grant Cardone Controls Over 4,000 Apartments Worth Over a Half a Billion Dollars. Therefore, American journalist Michael S. Schmidt has an estimated net worth of $2 million. Prior to joining the Origin team in December 2022, she worked as a content marketing coordinator at EveryDose, a niche startup centered on medication adherence. Michael earned his undergraduate and masters degrees from DePaul University. So many, I would say 50% of them, we were able to buy back in the first three months and people were so thankful to us even to come there to provide them with an exit strategy. We had to cut people back and limit the amount they could invest, because what were trying to do is build goodwill with a stable group of investors at that time. 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. Rod Khleif: Sure And their friends, and their relatives. You have to over communicate to give your investors comfort. Chris is responsible for the development oversight, lease-up execution, and operational and financial performance of the firms multifamily properties across Nashville and the state of Texas. My experience in real estate actually extends back to kinda when I was 11, 12, 13, working for my grandfather in the summers. Earlier in his career, he worked the Associate General Counsel and Assistant Secretary at APAC Customer Services. Youve done several funds. 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. In that role, he was responsible for budgeting, scheduling, and executing the construction of custom-built single-family homes in Chicagos suburbs. She lives in the Lincoln Square neighborhood of Chicago and enjoys travel, container gardening and all kinds of art. We do [overlap talk]. Michelle is a gamer and enjoys spending her free time playing online video games. Why funds vs syndications Well, I heard somebody else bring this up. 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