Rod Khleif: So youre a buy-fix-sell investor. Aenean nec cursus diam, eget consequat mauris. Rod Khleif: Hey, my net worth went up $17 million in 06. Kyle is responsible for sourcing, structuring, and execution of new acquisitions across Nashville and Central Florida. Were in those markets because in the strategy sense, the first thing we do is look at the macro view of the world and figure out where we want to invest. Rod Khleif: Just let me stop you for a second. Is that correct? It was in the late 90s, early 2000s that I began passive investing. His responsibilities include forecasting rent growth, automating ETL processes, and creating analytical models for the needs of our team. He brings with him over 7+ years of digital marketing experience in both B2B and B2C marketing. Cause this is, its a little new to me. 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. Market. Rod Khleif: Just to build goodwill for future deals. He put on a new roof. Its a different way of getting to the same place. Operationally, weve increased revenues about 50%. Rod Khleif: Its a fantastic book about an effective decision making process. Gina serves as an Investor Relations Support Specialist. He received his Bachelor degree in Finance from The University of Connecticut. Bills design practice emerged out of a fine arts background. Cause you touched on it with me offline, Id like my listeners to hear that. Its in a fund, so never mind. She managed daily web and monthly print publishing schedules, oversaw operations and interviewed owners and operators around the world. The value of continuing education - Michael Episcope "Our mission from day one was to help high net-worth investors, grow their wealth, generate tax-efficient passive income, and just bringing that institutional product to people like us, people who deserved a better way to invest." in 2007, Jackson had a net worth of $236.6 million: $567.6 million in assets, which included Neverland Ranch and his 50% share of Sony/ATV Music Publishing' catalogue, . Preqin , an industry leader that tracks performance of private equity fund managers, ranked these two funds in the top quartile as of June 2016. 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. Michelle serves as a Graphic Designer here at Origin Investments. Welcome to the show, buddy. The company acquires, owns and operates office and multifamily properties in eight U.S. markets. But fast forward, to today, it was 76% occupied at the time of acquisition, were 96% today. 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. You should be comparing the people behind the returns. He was raised in well-settled family background. Summary. 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. Rod Khleif: Yeah. At Centro, Geoff focused on personalizing the companys messaging strategies and expediting adoption of their proprietary software a comprehensive solution for both brands and agencies. In this business, its really about selecting the right manager, the right people. Other names that Edsel uses includes Edsel M Episcope, Edsel Michael Episcope and Edsel A Episcope. Theres another great. It peaked at #3 on The New York Times Best Seller list. In May 2021, a judge ruled that Michael's estate was worth US$111 million. She received her undergraduate degree in Political Science from the University of Southern California and her JD from the Northwestern University School of Law. 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. Click the play button below to listen to my conversation with Michael. Education + Add. The additional shot of funds from these investors helped complete deals that otherwise may not have happened, Landes added. There was this big gap between the large institutions, family office, those who had a lot of money, an investor looking to put in half a million, one million, five million, even $10 million, with a manager. In this assignment, he was able to capitalize on investments made in three REITs and ensure beneficial results. Prior to Origin, Michael had a prolific trading career and twice was named one of the top 100 traders in the world by Trader Monthly Magazine. But were excited about the asset so were actually putting that under longer term financing. Michael Episcope: Yeah. He oversees the strategy and execution of property-level business plans. Preston received a Bachelor of Business Administration majoring in Real Estate and Urban Land Economics from the University of Wisconsin-Madison. Technically, Michael Jackson's net worth at the time of his death was negative $500 million. I believe that value add is a way to protect yourself from future downturns. A year later, we started our first fund, if you will, and all of those investors came onto that fund [overlap talk]. He was twice named a top 100 trader by trader monthly magazine. Aaron studied Political Science and Economics at Emory University in Atlanta, GA. It all is influenced by that notion of alignment, and where you sit. I was a multifamily development, wasnt the greatest time, it was in 06. Michael Episcope: Yeah, management of cash flow. There is where she assisted in all real estate transactions including Residential, Commercial, and Real Estate Bank Owned properties. He was responsible for underwriting and supporting all aspects of the acquisition process. 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. He was involved in the underwriting, assessment, management and liquidation of commercial real estate and recommendation of resolution strategies for non-performing loans. Michael Episcope: Well, we bought it at very low occupancy so [overlap talk]. He has more than 25 years of investment and risk management experience. Gina graduated from DePaul University with a Bachelor of Science in Business with a major in Hospitality Leadership. Thats a big clue guys. 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. And he actually did. Im not If everything wouldnt have gone well and I wouldnt have lost money because of the crisis thats under, you know Okay, the big [bad audio]. Collin grew up in Lake Forest, IL which is a northern suburb of Chicago; he joins our Investment Management team as an Analyst. Previously she studied accounting as a undergrad at Capital University of Economic and Business in China. Two years later, she took a role as a Property Accountant at SLM Realty, LLC., where she was first exposed to the real estate industry. Right? Click the play button above to listen to our conversation. 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: I was probably 40 years old then. Michael Episcope: Ill take you through this, cause its kinda right the fairway for us. There he coordinated, deployed, and measured lead-generating campaigns and promotions that led to YoY growth in core markets. Prior to Origin Investments, he completed the Risk Management Leadership Program at GE Capital. Chicago suburb. Im very grateful for your valuable time on the show. While at Ventas she led the transformation and scaling of FP&A, corporate risk, legal, accounting, treasury, and property management functions. Tommy is an Associate on the Investor Relations team whose responsibilities include serving the needs of our individual investment partners both before and after the investment process. Providing guidance with clear understanding of where they stand everyday. 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. He enjoys spending time with family, trying to keep up with the ever-changing restaurant scene, travel, golf, fly fishing, an occasional bird hunt and Iowa Hawkeyes athletics. Kate is a mentor at the Polsky Center for Entrepreneurship, a startup incubator at the University of Chicago, and serves on the board of BANC, a University of Chicago Booth School of Business nonprofit consulting organization. Sure. I think when we create structures here; we create structures around how we want to invest our capital and that a fund has a couple of advantages over an individual deal syndication. Ep #79 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. Regina joined the firm in late 2021 as an Accounting Associate. In 2007, Michael Episcope co-founded Origin Investments, a top-decile fund manager that helps high-net-worth investors, family offices and clients of registered investment advisors grow and preserve wealth by providing best-in-class real estate solutions. Taking the leap into entrepreneurship, Taylor started a company that provided replacement cars to people who had suffered stolen or damaged vehicles. What are your thoughts about whats coming up and on the horizon? Im Rod Khleif and Im thrilled youre here. But going forward, were actually, as much as I love the strategy of that buy-fix-sell, it also has its limitations, which is real estate is incredibly tax efficient, but when you sell, you have to pay long term capital gains. I think that the risk is exponential when you start managing other peoples money. At the age of 19 years old I got a summer job down at the Chicago Mercantile Exchange and that was between my freshman and sophomore year of college at DePaul. With Michaels leadership, Origin has $1 billion in equity under management and has executed more than $2.6 billion in real estate transactions in fast-growing markets throughout the U.S. Prior to Origin, David served as company president for a privately financed hedge fund. Investors who are locked into real estate assets are spared from the temptation of panic selling that ruins so many stock portfolios. Episode Highlights Trends High Net Worth investors should consider as they begin to allocate more funds to alternative investments. Ryan serves as a Data Scientist here at Origin Investments. She strives to discover the finest solutions to all design problems. It really, funders charge differently. I dont really think about this, right? You look at it but there was some people who had some great real estate out there who over-leveraged and ran out of money. Rod Khleif: Lets talk a little bit more about fee structure because I just wanna make sure So you dont charge an acquisition fee, you charge a capital What did you describe that as? Melissa leads a team focused on growing our high-net-worth investor base through various marketing efforts. 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. Photo: @Bennett Raglin Source: Getty Images Age: 52 years Michael Michele (born August 30, 1966) is famous for being movie actress. Before Link, he worked as an Analyst on the Capital Markets Research team at JLL. I started hearing things through my friend, and some of the projects that he was involved. We started talking about that before we started recording. If I were outside of this business, I would invest in a fund. He is a member of the Atlanta Apartment Association, a Certified Apartment Portfolio Supervisor, and Certified Apartment Manager. But it was, I think, at that time when we were 60% leveraged. Michaels done pushing a billion dollars worth of transactions, with a B. Rod Khleif: Okay. 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. I would caution people. She enjoys hiking, trying new restaurants and coffee shops, and spending time with family and friends. Within her years of real estate Executive assistant experience, she helped maintain communication with all parties. While growing up, she worked as a bartender, and that is how Ashley met her husband, a real estate millionaire, Michael Darby, whose empire is worth $20 million. An individual syndicator they charge acquisition fees where fund doesnt. Michael Episcope: I used to spend my summers with him, and I really. Ut porttitor ligula eu elit ornare tincidunt. Phil received a Bachelor of Science with a major in Finance from the Wharton School of Business at the University of Pennsylvania. Michael Episcope cofounded Origin Capital to create access to real estate investments and management expertise that were previously only available to institutions. The HVC all those things. Before ELS, she worked at Lilis Energy in Dallas, Texas, as an analyst cross-specializing in investor relations and transaction work. Michael Episcope: Well, youre not alone. He received his Bachelor degree in Chemistry from Hope College and his JD from Valparaiso University School of Law. I has some okay experiences, I had some not so great experiences, as well. Rod Khleif: Right. Spencer is responsible for underwriting prospective commercial real estate investments across all of our target markets. Geoff joined Origin in the spring of 2021 after spending two years at Centro, an advertising technology firm headquartered in Chicago. Intrigued by countries and cultures, she enjoys traveling, live music and spending time with friends. We bought an asset in Naperville, Illinois. Before his current role, he served as an acquisitions senior associate, overseeing the underwriting and due diligence of all deals being pursued, where he closed in excess of $500 million of multifamily and office assets. As of 2023, Michael Michele's net worth is $100,000 - $1M. Jimmy serves as an accounting associate here at Origin Investments. The Estate of Michael Jackson is a legal entity established following the death of American singer Michael Jackson for the purpose of administering the property of Jackson, . Get contact info, address & run background checks for Michael Sims. Very interesting. Can we actually improve it and get what we think? Bills experience includes a variety of product types, such as high-density wood frame and high-rise concrete products in markets throughout the country, such as Boston, Southern California, South Florida, the Mid-Atlantic, and the Midwest. Cardones average ROI has exceeded 200% on 22, Chris Voss Author of Never Split The Difference Former FBI Hostage Negotiator. Preceding her most recent experience she was in the Mortgage Servicing Industry at Fay Servicing, Energy Monitoring & Consulting at Mad Dash, Inc. Thats anywhere between 1.5% and 3% on one time. He facilitated multiple events for Be The Match, a nonprofit organization founded to fight leukemia and other blood-related diseases. With his co-founder David Scherer, he created Origin to provide the same caliber of service, terms, and results that were exclusive to only large . He is co-CEO, co-chairs the investment committee and oversees investor relations and capital raising. Lastly, Kevin began his career working for Clark Construction as a project engineer in the Washington D.C. metro area. Michael Episcope unpacks opportunity zone investing misconceptions and explores the potential benefits of adding alternative assets to a portfolio. Prior to joining Origin, Barbara was the managing editor of HOTELS, a Chicago-based publication covering the global hotel business. Michael Episcope: Yeah. The other thing that I learned is that its a heck of a lot more complex than what people realize. . I love it. Michael Episcope: Potentially, yeah, if it were an individual asset thats not the strategy. That can also be a big negative. He previously worked at Mark Anthony Brewing where he was responsible for leading the accounts payable process for over 50 vendors relating to co-packers, raw materials and packaging for Mikes Hard and White Claw. . No. 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. If you get that right, then thats who you really want to put your money with, whether its a syndicate or a fund. It was the right thing to do at the time. What did you do to get out there and meet people, and get them excited about what you were doing? Barbara received a bachelor's degree in journalism at the University of Illinois at Urbana-Champaign. But I can't accept not trying." - Michael Jordan . 6. With a fund manager, if we have 20 properties in the fund, in order for us to make a performance fee at the end of the day, and the performance fee is what happens at the end when things go well we get a percentage of the profits. But we have adopted an institutional fee structure. Episode Highlights How Origin Investments lined up $105 million in capital in less than 24 hours when they initially launched their Qualified Opportunity Fund. Its really Its everything we look for but its a good quality asset. 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. 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. Suyen Fernandez is part of the Investor Relations team at Origin Investments where she is responsible for capital raising and maintaining relationships with Registered Investment Advisors and Institutional clients. Michael Episcope: Yeah. Michael Episcope: Its a capital commitment fee. What markets are growing? Michael Episcope: I think its not that we believe in timing the market. Rod Khleif: Oh, gotcha. [chuckles]. Isabela still enjoys playing soccer and staying active as well as volunteering, reading and traveling. And thats really where I built my wealth. Jimmy received his Bachelor of Arts Degree in Business from the University at Buffalo. In any deal, first of all, theres nothing more expensive than low cost real estate, so investors have to be careful about making determination based on fees alone. 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. Kors reached billionaire status in 2014, but most recent estimates put him closer to a net worth of $600 million today. 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. Elena serves as Origin Investments assistant general counsel. Michael Episcope is also a principal and co-founder of Origin Investments. The most important parameter to consider for market selection Regina received her Bachelors in Accounting from the University of Illinois at Chicago. 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. Horacio spoke with Michael Episcope, the co-CEO at Origin Investments. Jimmy is responsible for managing and coding employee expense reimbursements, vendor invoices, preparing corresponding ACHs and tracking monthly timesheets of team members for allocation to various Origin funds. You look at it today, and its worth two to three times more than what they sold it for. 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. 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. She is also a professor at Johns Hopkins University School of Education. And sometimes, the worst that can happen is that you make a bad decision but have a good outcome. Garrett moved to Chicago 2 years ago and lives in the Lakeview community. Rod Khleif: Its not how much you make, its how much you dont lose. Michael Episcope: No, but I have it on my desk, my partner [overlap talk]. We both had a lot of good friends; high net worth. As it stands today, we are buy-fix-sell, so typically the average hold-period is probably three and a half years. Rod Khleif: Thats the key Michael, youve added tremendous value today. Anthony parents have supported his career since the start, and the couple has never missed his home game. In his free time, Ryan enjoys traveling, running and cooking. Michael Episcope: Yeah. 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. Michael Episcope is the Principal and Co-Founder of Origin Investments, a private equity real estate firm that serves high net worth individuals, family offices, and wealth management firms. Michael Episcope: Yeah. 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. Rod Khleif: Sure And their friends, and their relatives. Its the decision making that matters. That was kinda the impetus of us starting together. We talked a little bit about the fee structure, and the importance of that. 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. Kate joined Origin in 2021 after a tenure at Ventas, a S&P 500 company and a leading healthcare REIT. 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. And spending time with friends at GE Capital majoring in real estate Bank Owned.. Think that the risk is exponential when you start managing other peoples money fund doesnt the solutions... 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