Best Real Estate Investing Advice Ever Joe Fairless

Chris Giorgi, an experienced overseas investor, joins Slocomb Reed to discuss his journey into the world of real estate investing. From the challenges of managing long-distance real estate deals to the intricacies of syndication, Chris shares a wealth of insights for commercial real estate investors looking to expand their portfolios and understanding.
Key Takeaways:
Clarity and Trust: When investing long-distance, it's crucial to establish clear communication and build trust with your local representatives. Chris emphasizes the importance of having a property manager who's also a realtor. Syndication Due Diligence: Don't just jump into syndications. Understand the debt structures, management plans, and exit strategies. Also, actively seek out and learn from experienced voices in the syndication space. Stay Flexible in Your Strategy: While there are several established strategies in real estate investing, Chris advises not to become dogmatic. It's essential to remain adaptable, question everything, and mold your approach based on changing circumstances and market conditions.

Chris Giorgi | Real Estate Background Overseas investor and contractor for the U.S. Army Portfolio:     31 units of single family, duplexes, fourplexes, and apartments 20+ syndications as an LP Based in: Hohenfels, Germany Say hi to him at:  LinkedIn Best Ever Book: The Hands-Off Investor by Brian Burke Greatest Lesson: Don't be so dogmatic about never selling. Always evaluate your properties, especially as it refers to turn on equity, and make decisions that are best for your portfolio.  
Click here to learn more about our sponsors:
BAM Capital

From the challenges of project budgeting and dealing with the unexpected twists of 2021, to the importance of conservative underwriting and the role of refinance, Sean Tagge offers a goldmine of insights into multifamily investing. Slocomb Reed facilitates a compelling discussion that also explores the mental and leadership aspects crucial for any investor's success.
Key Takeaways:
Budgeting Realities: Recognize that going over budget can sometimes be part of the game. Use data and experience to predict and manage these situations, especially when external factors like rising material and labor costs come into play. Conservative Underwriting & Refinancing: Approach underwriting  conservatively. Sean shares how refinancing can significantly affect your IRR and why it's vital to ensure your deals work out even without relying on refinance. Leadership in Real Estate: Embrace your role as a leader in commercial real estate. Understanding and respecting the influence you have on others, from your team to your clients, can make or break your success in the industry. Seth Tagge | Real Estate Background Founder of Acorn Equity and Acquisitions Portfolio: 650 multifamily units Based in: Salt Lake City, UT Say hi to him at:  Acornea.com LinkedIn YouTube Best Ever Book: The Big Leap by Gay Hendricks Greatest Lesson: Treat others as you would want to be treated when acting as their boss. You have so much influence over others as a leader. Don’t waste it.  
Click here to learn more about our sponsors:
BAM Capital

Passive Investor Tips is a weekly series hosted by full-time passive investor and Best Ever Show host, Travis Watts. In each bite-sized episode, Travis breaks down passive investor topics, simplifying the philosophy and mindset while providing tactical, valuable information on how to be a passive investor.
Although you technically don’t need to know how to underwrite a deal in order to be an LP, it can give you a huge advantage in choosing the best deals for your goals. In this episode, Travis explains the basics of underwriting that LPs should know before investing in a deal.
 
Click here to learn more about our sponsors:
BAM Capital

From starting in college with a 12-unit apartment complex to managing multimillion-dollar portfolios in Austin and Michigan, David Toupin shares his vast experiences, challenges, and the software solution he developed for the industry.
Key Takeaways:
The Power of Opportunistic Investment: David emphasizes the importance of being asset agnostic and open to opportunities in various sectors of real estate, from multifamily to industrial, and everything in between. Challenges with National Tenants: Delve into a real-world challenge David faced with a national tenant in one of his commercial properties. The discussion provides insights into lease negotiations, corporate guarantees, and strategies for damage control. Introducing Real Estate Lab: David shares the inception and capabilities of his software platform, Real Estate Lab. Designed as an all-encompassing tool, it aids investors in managing their entire real estate portfolio, from acquisition to exit.

 
David Toupin | Real Estate Background Owner of Real Estate Lab and Toupin Holdings Portfolio: $140M of multifamily and commercial assets Based in: Austin, TX Say hi to him at:  Instagram realestatelab.com Best Ever Book: Never Split the Different by Christopher Voss Greatest Lesson: Staying open to opportunities regardless of asset class. You can make money in anything if you buy right.  
Click here to learn more about our sponsors:
BAM Capital

As a seasoned expert in acquiring distressed properties, Bruce shares valuable insights on vertical integration, market dynamics, and the importance of a macro thesis in investment. Whether you're new to commercial real estate or a seasoned professional, Bruce's expertise provides clarity on navigating the current landscape and capitalizing on emerging opportunities.
Key Takeaways:
The Power of Vertical Integration: Bruce elaborates on the pros and cons of vertically integrating your portfolio, focusing on the value of in-house property management. He also shares challenges faced with third-party property management and the importance of a dedicated operational team. Understanding Current Market Distress: The implications of rapid interest rate changes on property refinancing and how many operators find themselves in precarious positions. Bruce shares real-time examples of distress emerging from factors like floating rate debts, maturing loans, and expiring rate caps. Investment Philosophy & Approaches: The value of disciplined, numbers-driven decision-making in real estate investment. Bruce emphasizes the importance of taking that first step in real estate, the "law of the first deal," and having a clear, long-term macro thesis to guide investment decisions.  
Bruce Fraser | Real Estate Background Managing Partner Elkhorn Capital Partners, real estate private equity firm that focuses on distressed property situations Portfolio:  2,000 multifamily units Based in: Dallas, TX Say hi to him at:  LinkedIn elkhornpartners.com  Best Ever Book: Creature From Jekyll Island by G. Edward Griffin Greatest Lesson: Just buy something. Anything. Most people don’t even make that move. Even if it’s your worst deal, you will learn so much from it, and you’ll be on your way to the future.  
Click here to learn more about our sponsors:
BAM Capital

From flex space buildings to multifamily apartments, Seth Teagle shares his experiences, challenges, and insights into real estate development, shedding light on key elements that can make or break a deal.
Key Takeaways:
Understand the Market Dynamics: It's essential to comprehend the current saturation levels in the real estate market, especially in multifamily apartments. Knowing where to invest and when can be the difference between a successful or a failed venture. Due Diligence is Crucial: Before making any property purchase, especially in land development, ensure all due diligence processes, like understanding zoning requirements and the area's economic development plans. Optimize for Value-Add: Whether it's ensuring properties have modern amenities or analyzing the cost-benefit ratio of construction elements, always look for opportunities to add value to the investment.

 
Seth Teagle | Real Estate Background CEO of The Stream Group Portfolio: Multifamily and ground up projects Based in: Columbus, OH Say hi to him at:  www.thestreamgroups.com Instagram LinkedIn Best Ever Book: The Creature from Jekyll Island by G. Edward Griffin Greatest Lesson: Not everyone in your immediate circle is happy for your successes. Surround yourself with people you’re able to share both good news and bad news with.  
Click here to learn more about our sponsors:
BAM Capital