CRE Clarity Jeremy Goodrich

Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Micah Walje, a project developer, with more than 20 years of construction experience. In our conversation, we'll explore the best ways to resolve weather damage in your properties, how to find the right contractors for your deals, and why networking is key to building a successful business.
Learn more about Micah and his story at creclarity.com!



“The only way I would hire an out-of-town person to do my claim or repair is if they were working in conjunction or partnership with a local contractor.“
 
03:28
Micah has more than 20 years of construction experience. At the beginning of the conversation, he shares his best piece of advice on how to get weather damage resolved correctly. 
Don't start any work until everyone agrees! This means getting written estimates from both your contractor and your insurance company. These estimates should detail the scope of work, dollar value, and what will be covered by insurance.
Hire local contractors to ensure that the work is done on time and that you can follow up with them later if needed.



“If you don't have a good reputation for paying your trades or your subcontractors, that says a lot about all the other operational components of your business.”
 
09:30
Micah started his career in residential construction, then he shifted toward tenant improvement work, construction, defect repair, CapEx, and deferred maintenance.
 
Micah shares the key elements property owners and developers should consider when hiring contractors.
Their financial capability and bonding stability.
Their transparency in the estimating process.
If they had previous legal issues and how they got resolved.
 
Micah’s advice for a successful development project is to always work with a team with experience in the building type you’re developing.



“You can have everything in life you want if you will just help other people get what they want.”
 
22:00
Micah is an excellent networker. He enjoys listening to people and connect them. He explains why building trust is crucial in business. People won’t hire you for a bigger project unless they know, like, and trust you, and understand your process.
 
Toward the end of the conversation, Micah shares what he’s most excited about in his business currently. He’s eager to scale and expand his company to new markets. However, he's also keeping an eye on the housing shortage and multifamily mortgage situation. 
 
Finally, Micah shares one point of clarity with the listeners - practice servant leadership; put others before yourself and go out of your way to help somebody anytime you can, without an expectation of return.




About our Guest, Micah Walje
Micah Walje is the project development manager for Ronco Construction headquartered in Omaha, Neb. Based out of the Kansas City, Mo. office, Walje focuses on business development, assisting preconstruction and project management for opportunities in the Kansas City metro market. Walje has more than 20 years of construction experience, with expertise in managing projects, leading business development efforts, and ensuring customer satisfaction through superior service and communication.




Mentioned in the show:
His LinkedIn
His Instagram
www.contractorsclosersconnections.com
www.shineinsurance.com/reiclarity
The REI Clarity Framework



Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 
 
Special thanks to Micah Walje for taking the time to share so many great insights with us   If you enjoyed this podcast, there’s a couple of things we need you to do right now:  ·   SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcas

Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Tammy Sutton, a managing partner of Quattro Capital. In this episode, we discuss navigating the current multifamily market, building high-performing GP teams, and the surprising power of philanthropy in real estate. You don’t want to miss out on this conversation!

Learn more about Tammy and her story at creclarity.com!
 

“It's really easy to drop balls if you don't have all the hats in place in your business.”

01:01

Growing up in a second-generation real estate family, Tammy was exposed to the world of single-family investing from a young age. However, she worked as a teacher until 2019 when her career path took a turn. She transitioned into the family business, taking over the single-family operations from her sister. 

In 2020, Tammy made another exciting move, venturing into multifamily investing. This led to her becoming the managing partner at Quattro Capital. She explains that the company is thriving because of the strong team they built and how this resulted in managing an impressive nearly $200M portfolio.
 

“One of the hardest things when you are getting started is raising that capital,”

12:30

Tammy shares her insight on how to get into the commercial real estate world without capital. Quattro Capital collaborates with aspiring investors who have a good deal but don’t have the right team yet. Finding a good deal is often the best way to break into the industry and build your knowledge base.

According to Tammy, the multifamily industry experienced a period of significant growth between 2020 and 2022. However, in 2024, the focus has shifted towards protecting assets and the investors’ money. She shares how rising insurance costs and renovation expenses are impacting business plans. Despite the challenges, she has optimism for the future.
 

“The philanthropy side of Quattro Capital is truly what motivates us to keep doing well.”

24:35

Tammy is a philanthropist. Her company established the Quattro Giving Fund which supports causes like veteran housing, human trafficking initiatives, foster care programs, and shelter and housing solutions. They are working with different organizations through donations from their investors.

Toward the end of the conversation, Tammy shares what she’s most excited about in the industry currently. She anticipates a return to normalcy with interest rates, which will create more opportunities in real estate investing.

Finally, Tammy shares one point of clarity with the listeners - Real estate's a long game. Quit worrying about the right now. Navigate through the waters, there is a horizon out there and that's your end game.
 

About our Guest, Tammy Sutton

Tammy Sutton serves as a Managing Partner at Quattro Capital, overseeing Transitions and Operations.

Renowned for her organized, positive, and responsive nature, Tammy navigates the diverse personalities within operations with an adept and authentic touch. Her exceptional multitasking skills and creative vision contribute significantly to Quattro Capital's marketing needs. Moreover, Tammy's passion for multifamily investing and commitment to improving living environments for families and communities seamlessly align with Quattro's ethos. Her unparalleled mastery of operations truly embodies the essence of a master conductor, which has earned her the nickname 'The Maestro'.

Mentioned in the show:

Her LinkedIn https://www.thequattroway.com/ www.shineinsurance.com/ The REI Clarity Framework
Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Tammy Sutton for taking the time to share so many great insights with us
 
If you enjoyed this podcas

Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is developer extraordinaire, Alex Sanders. This conversation dives deep into the 7 essential steps of CRE development, guiding you through each stage from finding the perfect location to exiting the project successfully. Whether you're a seasoned investor or just starting out, this episode is packed with valuable insights to help you navigate the world of CRE development!
Learn more about Alex and his story at creclarity.com!



“Being a mentor doesn't mean that they're geniuses or professionals in their fields. The big part is that they can help you to build up your confidence.”
 
01:00
Alex’s parents were residential real estate agents, but he knew from an early age that he wanted to do something different. He started his career as a CRE broker and eventually chose development as his career. According to Alex, the biggest help in his career were his mentors and he recommends working with one to everyone.



“Always be open to learning. Listen to everybody, but choose what advice you actually want to implement.”
 
09:00
Alex dives into the 7 key steps of CRE development and how to do them right.
Site search. The first step is crucial – identifying the right asset class for the specific site. This is a great starting point for new developers, as it sets the stage for the entire project.
Entitlement. The key to overcoming common zoning hurdles is thorough research and building strong relationships with local authorities.
Designing. Work with local architects and design teams as they have market knowledge and local connections.
Financing. Align yourself with an equity partner who shares your vision for the project.
Final approvals. This stage involves securing site plan approvals, project approvals, and permit approvals from the city.
Construction. Ensure everything runs smoothly by working closely with the construction team and clearly outlining the project timeline in the contract. Having a solid insurance plan helps mitigate unexpected delays.
Exit. Many options exist for exiting the deal, including presales, waiting a few years for the property to stabilize, or long-term hold. They are increasingly more risky.



“Good developers are able to be a visionary, be persistent, and know the market.”
 
37:45
Toward the end of the conversation, Alex shares what he’s most excited about in the CRE world right now. He’s looking forward to the future of the Nashville market and highlights its stability due to steady population growth. However, he is concerned that deals might get harder to do requiring greater creativity from investors.
 
Finally, Alex shares one point of clarity with the listeners - If development is something that you feel passionate about then surround yourself with a good team that can help you succeed.




About our Guest, Alex Sanders
As a Development Executive at Mortenson, Alex Sanders leverages his extensive knowledge and experience in real estate, investment, and development to create exceptional projects that embody financial prudence, long-term sustainability, and an enhanced quality of life for individuals. He has been involved in the development and sale of real estate across various sectors and markets, including life science, healthcare, industrial, manufacturing, multi-family, student housing, hospitality, sports-anchored mixed-use developments, and developer-led public-private partnerships.
 
His ultimate goal is to drive transformative change within communities by spearheading initiatives that foster lasting positive impacts. Alex is dedicated to delivering exceptional customer experiences and generating innovative solutions that positively shape neighborhoods and communities. He brings expertise, leadership, and collaboration to the table, ensuring that each project demonstrates financial responsibility, long-lasting durability, and adds significant v

Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Venkat Avasarala value-add multifamily investor turned CRE developer. In our conversation, we delve into why development is the current hot spot in REI, explore what to look out for when investing in multifamily, and discuss the importance of monitoring the money supply.

Learn more about Venkat and his story at creclarity.com!

“The one thing every investor should know is to watch the money supply.”

01:18

Venkat began his professional journey in the finance world in 2002. However, his interest shifted towards real estate, leading him to purchase his first 20-unit rental property in Dallas back in 2016. In 2018, he was able to leave his corporate job and pursue real estate investing full-time. His background in finance has helped him to become a developer for large properties valued at over $400 million.

Venkat talks about the importance of monitoring the money supply. He explains that fluctuations in the money supply can influence buying patterns and available resources in the market. He points out the impact of money printing post-pandemic, and how inflation has risen faster than wage growth, putting a strain on affordability.

“Pay attention to who you are serving. If you don’t understand your tenant, you cannot be successful.”

10:45

Venkat started investing in value-add multifamily properties in 2016, However, he transitioned to development in 2021 after exiting the multifamily market altogether. According to him, the landscape had shifted, making success more challenging.

Despite his shift in focus, Venkat shares his insights on still finding success in real estate.

Learn about historical trends to anticipate future market changes. Understand your tenant. Pay close attention to your tenants' spending habits and lifestyle preferences to be able to make informed rent projections for the coming years. Find your niche. Identifying a niche market allows you to cater to a specific tenant demographic.
“You don't need to know everything. You just need to find people who know what you are missing and who are good at it.”

24:13

Venkat shares his advice on how to get into the development space.

Build your network. Connect with experienced and successful developers and bring them onto your team to leverage their expertise. Learn to manage the risk. Always raise money conservatively and have solid underwriting.
Toward the end of the conversation, Venkat shares what he’s most excited about in the CRE world right now. He anticipates a decrease in construction costs within the coming years in the Sunbelt states.

Finally, Venkat shares one point of clarity with the listeners. Always watch the money supply!

About our Guest, Venkat Avasarala

After witnessing fellow employees’ deep despair caused by mass layoffs at “dependable” corporations, Venkat promised himself he’d never be fully dependent upon a W2 again.

It’s easy for hard-working, intelligent people to accidentally become reliant on their paycheck and miss opportunities to protect and grow their wealth.

That’s why Venkat loves sharing about multifamily real estate investments.

Since he discovered the lucrative power of commercial real estate, Venkat has become passionate about spreading the word, so others too can protect their hard-earned savings and take action toward building sustainable wealth.

Mentioned in the show:

https://strykerproperties.com/ His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework
Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Venkat Avasarala for taking the time to share so many great insights with us
 
If you enj

Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Joseph Cornwell, multifamily investor and the host of the Best Ever Podcast. In our conversation, we talk about Joseph's transition from law enforcement to real estate investing, strategies for scaling a multifamily business, and tips for finding the right people for your business and stepping into a leadership role. Don’t miss this episode!
Learn more about Joseph and his story at creclarity.com!



“Real estate at the end of the day is a people business. If you understand the people part, you can have success in any area of real estate.”
 
01:00
Joseph started his career as a police officer in Cincinnati. After working 5 years, he realized that he wanted something different in life and found his passion in real estate investing. His law enforcement background equipped him with many interpersonal skills, such as conflict resolution and understanding people's motivations, which have been useful in the real estate field.
 
As his real estate business grew, Joseph recognized the need to build and manage a team. He focused on creating strong and scalable systems, so his employees always have clear instructions and understand their roles.



“You're never going to find someone who cares about your business as much as you do. And if you do, that's a problem, because it's your business.”
 
17:30
Joseph shares the key steps for transitioning from working in your business to managing it:
Define your goals: Identify what truly fulfills you. Do you want to be personally involved in daily tasks, or scale your business?
Find a scaling strategy: Discover alternative ways to add value to your company while delegating operational tasks.
Find the right people and trust them with the right responsibilities. It’s a number’s game, so you will have to hire and fire people before you find the right ones for your goals.
Build your team: Find the right people and trust them with the right responsibilities. Be prepared to hire and fire people often before you find the right ones for your goals.



“The Midwest is a “get rich slow” type of investment, and I think that's a lot safer and reliable.”
 
24:23
Toward the end of the conversation, Joseph shares what he’s most excited about in the CRE world right now. He sees a revitalization in the Midwest markets as many millennials move to the suburbs. It’s a stable and growing market without significant ebbs and flows and rents are steadily increasing. 
 
Finally, Joseph shares one point of clarity with the listeners. You have to be consistent in everything you're doing. Once you have some foundation, don’t be afraid to expand markets, locations, and asset types.




About our Guest, Joseph Cornwell
Joseph Cornwell has lived near Cincinnati, Ohio his entire life. He is a host on the BEST EVER CRE podcast and is actively seeking to acquire single and multi-family rental properties. As a real estate agent, he works with investor clients and also owns and operates a general contracting company in Cincinnati, Ohio, specializing in large renovation projects for other investors.
 
Joseph has successfully flipped one home and currently owns 125 units across 15 properties. He possesses extensive experience in buy-and-hold real estate, creative financing, and has executed deals ranging from 1 to 99 units. Holding a license as a Real Estate Agent in Ohio, he has facilitated numerous commercial and residential transactions for clients, overseeing the purchase and sale of hundreds of investment properties over the past 7 years. Additionally, Joseph has managed millions of dollars' worth of large renovation projects, both within his own portfolio and for other clients.





Mentioned in the show:
His Facebook
His Instagram
His LinkedIn
Best Ever Podcast
www.shineinsurance.com/reiclarity
The REI Clarity Framework



Need an instant insu

Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Joining us today is Tom McCrossin, an industrial and warehouse investor and owner of New Lane Management. We'll be diving into the world of industrial investing, discussing how to get started, finding the perfect property, and why it's a hot market in 2024. 
Learn more about Tom and his story at creclarity.com!



“A lot of people think that all big buildings are manufacturing, but that’s not necessarily true.”
 
01:00
Tom started his investing journey in 2010 by househacking. He rented out half of his duplex. By 2020, he saw new potential and transitioned to acquiring industrial buildings and warehouses.
 
The industrial real estate asset class covers a diverse range of properties, each with its own purpose.
Warehouses and distribution buildings: Logistics hubs storing goods before export or distribution.
Manufacturing buildings: These are where industrial work and manufacturing take place.
Flex spaces: The perfect blend, offering smaller warehouse spaces with integrated office areas for increased functionality.
 
Industrial buildings typically stand tall, with ceilings ranging from 15-17 feet, reaching up to 35 feet!
 
“In multifamily, you look at the dollar amount per door. In industrial we look at square footage.”
 
10:22
Tom built a strong relationship with commercial brokers who are helping him find the right building and suitable tenants.
 
Tom shares his preference for industrial investing over multifamily.
He enjoys collaborating with like-minded business owners, fostering a sense of shared purpose. 
The tenants handle maintenance, simplifying the operation for him.
He sees a rising trend of manufacturers relocating to the Midwest, creating new investment opportunities.
 
“As you go into these bigger deals, you got to have multiple ways that you want to get out if it starts to go South.” 
 
20:23
Tom calls himself the “Junior Warehouse Flipper”. He shares a risky deal that netted him a 185% return in just 7 months.
 
Tom’s recommendation for new industrial investors is to partner with someone who’s already successfully done a deal. It’s also important to familiarize yourself with the lease language as it’s very different from residential real estate.
 
Towards the end of the conversation, Tom shares what he’s most excited about in the CRE world right now. While he anticipates a stabilizing CRE market in 2024, he expresses concerns about potential shifts in the manufacturing landscape and their impact on tenant revenue generation.
 
Finally, Tom shares one point of clarity with the listeners. Focus on maintaining a positive mindset and keep open communication with your tenants. This way you can plan ahead and make the most out of your investments!




About our Guest, Tom McCrossin
For Tom McCrossin, it all started in 2006 at the age of 19 when he purchased a condominium. With the opportunity to join the condo association’s board of directors, Tom learned about large-scale property management. His professional background includes serving as a property manager as well as managing the restoration of fire/water-damaged buildings.
 
Tom has extensive experience rebuilding homes and renovating buildings, which started in 2010 by buying duplexes with his wife.
 
The first industrial warehouse acquisition in 2019 inspired the business to buy vacant buildings with tenants in place to lease space once the property is acquired. In 2020 he added a duplex and a single-family home to the portfolio, while 2021 brought the addition of 100,000 square feet of industrial warehouses, along with a duplex and a whole home revitalization in Milwaukee.



Mentioned in the show:
https://newlanemanagement.com/
His LinkedIn
His Instagram
www.shineinsurance.com/reiclarity
The REI Clarity Framework



Need an instant insurance ballpark for your next Multifamil