99 episodes

Commercial Real Estate Professionals who work with Investors, Buyers and Sellers of Commercial Real Estate. We discuss today's opportunities, problems & solutions in Commercial Real Estate.

Commercial Real Estate Pro Network Commercial Real Estate Pro Network

    • Business
    • 4.8 • 26 Ratings

Commercial Real Estate Professionals who work with Investors, Buyers and Sellers of Commercial Real Estate. We discuss today's opportunities, problems & solutions in Commercial Real Estate.

    Wall Street vs Real Estate with Craig Berger - CRE PN #382

    Wall Street vs Real Estate with Craig Berger - CRE PN #382

    Today, my guest is Craig Berger. Craig founded Avid Realty Partners in 2015. After spending more than a decade on Wall Street as a multi award winning equity research analyst. The firm's portfolio has grown meaningfully in recent years, and includes acquisitions and operations of over 14 150 units in secondary and tertiary markets throughout the United States. 

    • 47 min
    BIGGEST RISK with Craig Berger

    BIGGEST RISK with Craig Berger

    I'd like to ask you, Craig Berger, what is the biggest risk?
     
    Craig Berger  42:57  
    Darrin, you're really good interviewer, you're asked some great questions, and you're really smart. Our biggest risk, my biggest risk is taking a finite amount of personal resources and growing a business. I'm hiring I'm buying deals and having the investor of last resort or the backstop in any of my deals if if a deal needs more money, I really don't do capital calls. I've I've always invested out of my own pocket and the very few limited cases where one of our deals or properties is needed more money. So I've got a number of demands on my personal resources, most of which revolve around growing a business. So that's my biggest risk. How do I hire top flight and top quality, talented sea level executives, investor management, personnel, acquisition personnel, back office personnel, with my resources, how do I go out and buy quality deals when when I have to raise the money in a finite period of time. And so those are those are some of the biggest risks on our assets, we've really paid mostly prices that I feel really good about. So I don't feel like any of our projects are a risk. You know, again, that's one of the great things about multifamily. We're buying below replacement cost we're buying into a business that is fairly stable overall so I like the the multifamily and commercial real estate business. And we've never lost money on any deal yet knock on wood. And hopefully, hopefully we won't. So you know, my risks are more around corporate level. risks and how to scale a business with, you know, limited limited personal resources. We have exited, you know, a number of properties over the last year. So my resources are a lot less limited than they were a year or two ago. But they're still limited in terms of growing the business and hiring talented people that need and deserve to make, make a make a living.

    • 2 min
    How to Start Investing in Commercial Real Estate with Todd Nepola - CRE PN #381

    How to Start Investing in Commercial Real Estate with Todd Nepola - CRE PN #381

    Today, my guest is Todd Nepola. Todd is a commercial real estate investor manager there excuse me, investor and manager. He deals in retail and industrial properties, class B and C properties. And they own and operate and lease and manage several million square feet in of these properties.

    • 45 min
    BIGGEST RISK with Todd Nepola

    BIGGEST RISK with Todd Nepola

    J Darrin Gross:
    I'd like to ask, you know, Paula, what is the biggest risk?
     
    Todd Nepola 
    Well, I know you said you don't want an insurance that needed insurance answer, but I'm gonna tell you as a real estate owner, the biggest risk is not knowing working with a good insurance broker. So I'll give you a real quick story again that the second building I bought one of the guys I rented space to restore tires, and the tires caught on fire. And when I was told that I got that there was a fire first I thought someone was kidding me. I drove there. So the whole street shut down. And it was burning 50 feet to discard for just a few tires. I mean, maybe 50 100 tires. I want to ask the firefighters when they're doing this that there's really nothing we could do. It's just gonna burn out. And I was like, Oh my God, my whole building burned down. And it did. And when I went and called the insurance company, I was my neck Call first thing in the morning, I got a hard lesson in insurance about being underinsured and not devalues, we're off. And I realized that I was on the hook for a lot of this damage that was going to really eat it. And I said, this is terrible. Nobody ever explained this to me, I just assumed you buy insurance if there's a problem, but save me is that it was a total loss. And by being a total loss, if there was I had to pay the maximum insurance policy, then they gave me money for demolition and cleanup. So I was safe. But had it only been a fire that was contained to one room, I was really going to pay the price because I wasn't properly insured. So that went back to probably around 2005, or six that fire. And ever since then I said you really really must work with a good insurance agent, especially in Florida, as we're talking now it's storming outside, if you're not aware of your liabilities on hurricane insurance, wind insurance, fire slip and falls, if people don't know things like you know, it won't be your fault. Someone could fall on your property, and you will do nothing wrong, not even have a pothole, but you're going to get sued. So what do you expose for? And I find every time I take on a property management account, and I asked owners this question, they simply don't know. And that's why it's really, really important you work with a good insurance agent, that's more important than tenant risk. Because if a tenant leaves, I can replace it, that's more important than a problem with the vendor because I could get a new vendor. But if you're not probably insured, something happens and you're going to share this liability, you're not ready for it. It could bankrupt you.

    • 2 min
    Real Estate Investing Offense vs Defense in Changing Market with Spencer Hilligoss - CRE PN # 379

    Real Estate Investing Offense vs Defense in Changing Market with Spencer Hilligoss - CRE PN # 379

    Today, my guest is Spencer Hilligoss. Spencer is the CEO and co founder of Madison Investing a real estate investment firm specializing in real estate syndications. As a passive investor and active syndicator. He understands the unique challenges that busy professionals face when starting out in their real estate investing journey. Spencer's mission is to arm investors with a know how they need to make confident investment decisions tailored to their individual life goals. Prior to pivoting to real estate, Spencer held several executive roles in the financial technology industry, including positions at Intuit and gusto. forging a 13 year track record of building high performing teams across five companies, three of which are valued at over a billion dollars. Throughout his career, one thing has remained consistent his ability to keenly focus on professional development, helping teams and individuals reach their full potential. Spencer is a member of the 2021 Forbes real estate Council and has been featured in publications such as Business Insider, when he's not shifting the way people think about investing, you can find him listening to metal, adding to his tattoo collection and jogging through the Bay Area with his wife and two sons. Ask him about the time he played on stage in San Francisco at the Vans Warped Tour. And then just a minute, we're going to speak with Spencer about playing financial offense versus defense. But first, a quick reminder, if you like our show, CR e PN radio, there are a couple things you can do to help us out. You can like, share and subscribe. And as always, we encourage you to leave a comment. We'd love to hear from our listeners. Also, if you want to see how handsome Our guests are, be sure to check out our YouTube channel. You can find us on YouTube at commercial real estate pro network. And while you're there, please subscribe. With that I'd like to welcome my guest, Spencer Hilligoss,  Welcome to CRE PN Radio. 

    • 58 min
    BIGGEST RISK with Spencer Hilligoss

    BIGGEST RISK with Spencer Hilligoss

    J Darrin Gross
    I'd like to ask you, Spencer Hill, what is the biggest risk? 
     
    Spencer Hilligoss  
    Oh, my goodness. I love that question. And I say my goodness, because it is such a intelligent question. And I wish that someone could really couldn't go back in time yet again, and tell myself that every decision in life is a risk decision. Without exaggeration, and you and you already know this far, far better than I do because of your experiences, which is amazing. And I respect so much Darren, walk out the front door, you're making a risky decision, you know, drive your car and make an arrest decision. What is the biggest risk? I think the biggest risk as ethereal as this sounds. And I'm happy to drill down and make it less ethereal and make it more pragmatic or useful for people if they'd like, but this is genuinely what I believe. I think that the biggest risk posed to most people in life right now is a lack of curiosity. And what I mean by that is a lack of curiosity about their sources, like we're talking financially, of course, I would say they're not curious about how they make money and have what what is their money do like what they work for it. They know that they know what their income is, they know that they aren't really curious about well, do I need to does this have to be the way that I do this? What I'm curious, can I am I a human as a professional, capable of doing a different thing? Can I go do a side hustle? If I don't have any money? Could I be capable of generating a capital engine, fancy way of saying simply a way to build more investable capital outside my day job, which is more which is where most wealth is built. It's not in people's salaries. People don't build their net worth. In their day job. They build their net worth, by going out and building a business by going out and investing by going out and doing something on nights and weekends by It runs the gamut. And there's so many wonderful ways to go do that, that are free to start with and educate on now, like college courses. Sure. I'm talking pragmatic stuff. And so I encourage people to find a curiosity and that includes, I thought taxes were boring. I don't think they're always fun, but I certainly think they're pretty fun now compared to many years ago, and most people would hear that statement and think I'm absolutely crazy. And that's fine. But get sure is about your money and get curious about what you're capable of, if you are not happy with your circumstances, or if you don't have a plan B, C, D, E, F, to insulate yourself against the other many risks in the world. And so maybe I don't know if that's necessarily barking up the completely wrong tree in the wrong forest altogether. Darrin, but that's, that's what I chalk up if I had to give a single answer to what's the biggest risk is a lack of curiosity and people just sitting there to do the same thing over and over working hard, truly, is not working smart.

    • 3 min

Customer Reviews

4.8 out of 5
26 Ratings

26 Ratings

ChanTanBanFanMan ,

Great show!

Awesome host, easy to talk to, great questions and fun environment to discuss all aspects of real estate.

Multifamily University ,

Awesome podcast!

Insightful and practical!

mission530 ,

An all encompassing commercial real estate show

My favorite part about this podcast is the wide variety they have with their guests. I’m able to learn so much about CRE thanks to the great many opinions that come from this show. Great for anyone interested in commercial real estate.

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