99 episodes

The Managing Commercial Real Estate Risk Podcast is a show that untangles the concept of risk from the idea that it's bad. Risk is an integral part of everything we do. In fact, all successful investors take big risks. The key is to understand it & manage it, to limit the downside. This show will help you take bigger risks while decreasing the downside. It’s the secret sauce at the center of every successful commercial real estate journey.

Managing Commercial Real Estate Risk Jeremy Goodrich

    • Business
    • 4.9 • 29 Ratings

The Managing Commercial Real Estate Risk Podcast is a show that untangles the concept of risk from the idea that it's bad. Risk is an integral part of everything we do. In fact, all successful investors take big risks. The key is to understand it & manage it, to limit the downside. This show will help you take bigger risks while decreasing the downside. It’s the secret sauce at the center of every successful commercial real estate journey.

    4 Key Ways to Limit Risk, with Gary Wilson

    4 Key Ways to Limit Risk, with Gary Wilson

    Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we talk about the risk of falling behind in real estate. Our guest, Gary Wilson, has been an investor for over 30 years and shares how he has stayed on top of the industry. We talk about the 4 ways to limit real estate risk, how to build your property management team, and how to keep up with rapid market changes. You definitely don’t want to miss out on this episode! 
    Learn more about Gary and his story at shineinsurance.com/managing-commercial-real-estate-risk!



    “Many property management companies are used to traditional long-term rentals. They're not used to Airbnb and corporate housing, and that’s a risk.”
     
    4:58
    Gary has been investing in real estate for over 30 years. At the beginning of the conversation, he shares what he sees as the biggest risk in the current market. The world is changing and evolving rapidly and real estate investors have to keep up with all the changes in order to stay in business. One example of that is Airbnb as corporate housing which is a fairly new concept.
     
    Another real estate risk is financing. There are new options for alternative financing for bigger properties, but investors need to be cautious and well-informed about them.



    “Your lender, your insurance guy, your attorney, they're all partners. So select your partners wisely.”
     
    10:20
    Gary shares his risk management process. He has 4 key ways to limit his real estate risk.
     
    Be a good landlord.
    Make sure your property is up to code, safe, clean, and reliable. This is not only beneficial to your tenants but good for your reputation in the industry as well.

    Have solid property insurance.
    Avoid injury or death on your property by making it as safe as possible. However, make sure to properly insure yourself if something does happen despite all of your efforts.

    Use an LLC for your real estate business.
    LLC gives you anonymity and one degree of separation from liability. Any lawsuit will go to the LLC first and not you personally. A good rule of thumb is to not have more than $1M in assets in any one LLC. On higher levels, you can use trusts instead of LLCs as well.

    Have good property management.
    Many people self-manage their properties. However, there’s some risk in that because if you're the owner and the manager as well, you automatically tie yourself directly to the tangible asset. To avoid that, build a good property management team incorporated in a separate LLC. 




    About our Guest, Gary Wilson
    At age 40, retired as Corporate Vice-President, Mergers & Acquisitions in National Banking;
    In the first 6 months after earning a real estate license, created 6 figure income working with Investors Completed over 100 transactions per year consistently every year without a sales team or assistant, with virtually no marketing costs Traded over 3,000 Investment properties in less than 5 years Developed five real estate holding companies, owning more than 250 Rental Units Self-made multi-millionaire by building a real estate enterprise including: brokerage, rental management, investment services, settlement services, and appraisal services Award winner and accepted into Andron Apiphenon Order of Excellence for Real Estate Author of FIVE Real Estate Investment books: Rental Profits Without The Pain, Flipping For Profits Without The Risk, Turning Rental Problems into Real Estate Profits, Wholesaling For Profits so Everybody Wins, Investor Agent, Make More Money Not More Work Founder, Trainer and Coach of Path to Profit System, teaching more than 8,000 Agents and Investors;


    Mentioned in the show:
    https://globalinvestoragent.com/ https://www.myinvestmentservices.com/ His LinkedIn Shineinsurance.com www.shineinsurance.com/managing-commercial-real-estate-risk Jeremy’s LinkedIn



    Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what in

    • 48 min
    Private Lending & Cashflow, with Alex Breshears

    Private Lending & Cashflow, with Alex Breshears

    Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have a great conversation for you about debt and cash flow. Our guest is Alex Breshears, private lender, LP investor, and author. We talk about how to limit your risk by understanding capital, how private lending differs from hard money lending, and how to build your capital stack.
    Learn more about Alex and her story at shineinsurance.com/managing-commercial-real-estate-risk!



    “That's actually one of the things I love about private lending is that it’s extremely flexible and you can make it anything you want.”
     
    07:05
    Alex is a private lender. At the beginning of the episode, she explains that private lending and hard money lending are two very different things. As a private lender, Alex and her business have a certain amount of capital that she lends out to people after underwriting their deals. However, hard money lenders’ funds generally come with strings attached. Borrowers have to fit certain standards in order to qualify for loans.
     
    Alex's advice for people who are interested in becoming a private lender is to be very informed about their state’s laws because brokering has different laws in every state. It’s useful to find a specialized attorney for this process.



    “If you'd have a private lender saying they lend in all 50 states then that is a hard money lender calling themselves a private lender.”
     
    15:03
    Alex shares some things to look out for as an investor when working with a private lender:
    No funds should change hands outside of closing. Most private lenders are hyper-local. Therefore, if they’ve done loans in that area, their deeds and trust, and mortgages are public records. Ask for references in your market. Be aware of people who say they lend in all 50 states, as they’re probably hard money lenders.


    “The reason I invest passively is because I want to go out and live actively.”
     
    28:20
    Alex is an LP investor. She talks about the risks of the capital stack. LP investors are on the top of the capital stack, so if the deal goes wrong, their money is at risk first.
     
    Alex breaks down passive investors into 2 categories - equity multiple investors and cash flow investors. She prefers cash flow investing as it is more reliable by running the numbers. It’s also less risky, as the properties are usually stabilized.






    About our Guest, Alex Breshears
    Alex Breshears is a private money lender, short-term rental owner, LP investor in syndications, and private lending fund manager. She is also a BiggerPockets published author, with her private lending book “ Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending” hitting shelves in August of 2022. She started an educational Facebook group called Lend2Live: Private Lending Lessons which offers educational lessons, daily posts for discussion, and opportunities to network with other investors about private lending, and various projects that may need funding. Alex is also passionate about financial education and independence for female investors. Alex is a military spouse, dog mom of 4, and seeks to educate others about investing to fit the design of your life. She was a chemistry professor, teaching for a four-year school for the past ten years, with a special focus on pharmacology.



    Mentioned in the show:
    Lend2Live: Private Lending Lessons Facebook Group Her LinkedIn Alex Breshears - Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending Shineinsurance.com www.shineinsurance.com/managing-commercial-real-estate-risk Jeremy’s LinkedIn



    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 Alex Breshears for taking the time to share so

    • 49 min
    Mindfulness & Professionalism, with Terrie Schauer

    Mindfulness & Professionalism, with Terrie Schauer

    Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we talk about how mindfulness can help you be a better property manager. Our guest is Terrie Schauer, investor, property manager, author, and coach. She shares some techniques for being more mindful in our work life, how to be professional in business relationships, and why real estate investing isn’t as risky as many of us think.
    Learn more about Terrie and her story at shineinsurance.com/managing-commercial-real-estate-risk!



    “Very often the things that people are afraid of are not the things that they should be afraid of.”
     
    08:30
    At the beginning of the conversation, Terrie shares what risk means to her. She is living and investing in Quebec, and according to her, real estate investing isn’t very risky overall. It can be hard and time-consuming, but there aren’t many events that can take down someone’s whole portfolio. The biggest risk is usually around the sale and not the operation of the property.
     
    Terrie shares some ways to successfully mitigate real estate risk.
    Focus on creating solid contracts at the beginning of all your business partnerships. Have your systems and processes in place at the time of sale. Make sure to insure the property early on.


    “The best diet plan in the world will not help you if you can't execute it in those micro-moments when you're choosing what to put into your mouth. And real estate is the exact same thing.“
     
    16:18
    Terrie wrote a book, Mindful Landlord, that focuses on becoming a successful and fulfilled landlord through mindfulness. She talks about some of the techniques that can help you train your mind to become more mindful in your business. 
    Learn how to meditate and cultivate pure presence. Instead of trying to replace anxious thoughts with positive thoughts, identify what’s underneath your thoughts. Always focus on the next step in your business plan to avoid being overwhelmed. Don’t be afraid to ask questions and ask for help from people. Be professional in your communication with tenants. Use polite language and don’t text with them.


    About our Guest, Terrie Schauer
    Terrie is an investor, a property manager, and a real estate broker. She spent twenty years getting income properties in three different cities to cash flow, both for her and for her clients. For Terrie, the ultimate goal of being a landlord isn’t a dollar sign, it’s a full, happy, and financially free existence.





    Mentioned in the show:
    https://terrieschauer.com/ Terrie Schauer - Mindful Landlord Her LinkedIn Shineinsurance.com www.shineinsurance.com/managing-commercial-real-estate-risk Jeremy’s LinkedIn



    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 Terrie Schauer 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 Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group Then, please share the show with whoever you think it will inspire.
    Until the next time, We truly appreciate you listening.
    Need the CRE Insurance Guy?

    More great stories & information at:
    Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:
    124: Being A Connector, With Yonah Weiss How To Escape Burn Out & Make Better Decisions, With AdaPia D’Errico 110: 3 Silos Of Risk

    • 48 min
    Being A Connector, with Yonah Weiss

    Being A Connector, with Yonah Weiss

    Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we dive deep into networking and relationship building with our great returning guest, Yonah Weiss. Yonah is one of the best connectors in the CRE space and an expert in cost segregation. We talk about community building, mitigating risk, and the newest changes in cost segregation.
    Learn more about Yonah and his story at shineinsurance.com/managing-commercial-real-estate-risk!



    “Platforms like LinkedIn are a great way to put yourself out there, create a brand that people recognize, and continuously add value.”
     
    05:03
    At the beginning of the conversation, we talk about building relationships and growing our network. Yonah has always been a good connector and enjoyed meeting people, so building community has always come to him naturally. He shares his best pieces of advice on how to be a good connector.
    Learn how to be a good listener because that is the most important skill in networking. Actively engage with other people’s content on social media, especially on LinkedIn. Provide value on your social media consistently. 


    “Risk is very malleable because it changes based on your level of knowledge.”
     
    17:09
    Yonah talks about the biggest risk he took that changed his life. He moved from the United States to Israel 22 years ago, without knowinf anybody. He’s been working remotely ever since. 
     
    This experience taught him to not be afraid of taking risks. According to him, risk can always be mitigated by learning more about the topic.



    “The biggest risk for anyone in commercial real estate is the uncertainty of market changes.”
     
    27:06
    At the end of the episode, we talk about Yonah’s expertise - cost segregation. Cost segregation is a tax strategy for real estate investors that allows them to accelerate their depreciation deductions to a faster pace. 
     
    Yonah talked more in-depth about cost segregation in a previous episode. A big change since then is that the “100% bonus depreciation” option ends in 2022 and will start to phase out by decreasing 20% each year for the next several years. What that means is you will no longer be able to take 100% of those accelerated deductions in the first year, you'll only be able to take 80% of them.




    About our Guest, Yonah Weiss
    Yonah is a powerhouse with property owners' tax savings. As Business Director at Madison SPECS, a national Cost Segregation leader, he has assisted clients in saving tens of millions of dollars on taxes through cost segregation. He has a background in teaching and a passion for real estate and helping others.



    Mentioned in the show:
    https://www.yonahweiss.com/ His LinkedIn Shineinsurance.com www.shineinsurance.com/managing-commercial-real-estate-risk Jeremy’s LinkedIn



    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 Yonah Weiss 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 Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group Then, please share the show with whoever you think it will inspire.
    Until the next time, We truly appreciate you listening.
    Need the CRE Insurance Guy?

    More great stories & information at:
    Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:
    How To Build Your Network & Lower Your Taxes, With Yonah Weiss 112: Quadrant Of Risk 123: Infinite Banking, With Kofi Thompson

    • 39 min
    Infinite Banking, with Kofi Thompson

    Infinite Banking, with Kofi Thompson

    Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Kofi Thompson, a financial advisor who helps people invest in many different asset types. In our conversation, we focus on the concept of infinite banking, a great way to create your own bank and make interest on your own money. We also learn how Kofi has mitigated real estate risks throughout his REI journey. Learn more about Kofi and his story at shineinsurance.com/managing-commercial-real-estate-risk!



    “I get up every single day thinking about who are the lives and people that I can impact that day?”
     
    07:36
    At the beginning of our conversation, we discuss 2 of the “Risky 6” questions. Kofi shares some risk-related stories from his journey that can help us understand and manage risk better. 
     
    What's a risk that you took that changed your life?
    Starting his practice. Kofi left a secure and well-paying 9-5 job to follow his dreams as a financial advisor. It was stressful to take the leap, however, seeing how much impact he had on others’ lives made it all worth it.


     
    What is a risk that you're comfortable with that maybe other people are not as comfortable with?
    Risking his money and cash flow. As opposed to many people, Kofi is comfortable investing most of his money and having a smaller amount of cash in hand. He invests in the stock market, in real estate, and into his business.  



    “One thing that I practice is to not have an emotional attachment to any one specific asset, even if it's been doing well for 5, 10, 15, 20 years, and continue to diversify.”
     
    22:22
    Kofi is an expert in infinite banking. Infinite banking is a personal finance strategy that leverages a whole life policy as a “personal bank.” This includes taking loans against the policy and growing cash flow through the insurance's dividends. This creates more liquidity and the investor’s money appreciates at a better rate than in a savings account. 
     
    Infinite banking is a good option for someone who already has the financial capacity for their basic retirement needs and has a passive portfolio. It is a mid to long-term strategy.
     
    Infinite banking has some risks as well. Kofi shares some ways to mitigate these risks.
    Choose a mutual company that’s not owned by stockholders. So company profits or dividends that are paid by that company will flow to the policyholders and benefit the policyholders. Go for a company that issues dividends because not every single company out there is a dividend-issuing company. Choose a highly rated, stable company.





    About our Guest, Kofi Thompson
    “My team and I help our clients meet their current financial needs while planning for their future. We work with high-net-worth individuals, business owners, and Real estate investors to address those issues such as reducing taxes and increasing capital through alternative ways of investing and infinite banking strategies.
     
    If you are looking for ways to increase returns while taking on less risk that is something we help our clients with every day. The traditional ways of building wealth could work for most people but are they enough to help you reach your goals? 
     
    If this is a question you asked before it may beneficial for us to connect to see how my team and I can help you get to your goals faster and more efficiently. Feel free to reach out and we'll make time for you to see how we may be able to help you as well.”



    Mentioned in the show:
    His LinkedIn His Instagram Shineinsurance.com www.shineinsurance.com/managing-commercial-real-estate-risk Jeremy’s LinkedIn



    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 Kofi Thompson for taking the time to share so many great insights with us

    • 47 min
    Making Dreams Real, with Jerome Myers

    Making Dreams Real, with Jerome Myers

    Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have a returning guest, Jerome Myers, one of our favorite people in the CRE space. Jerome is a commercial real estate and life coach who helps people realize and reach their investing dreams. In this episode, we talk about how Jerome manages risk in his businesses, how he makes decisions, and how to take the leap from a W2 job to your dream career.
    Learn more about Jerome and his journey at shineinsurance.com/managing-commercial-real-estate-risk!



    “I figured out how to allow my impact to drive income for me and I think most people think about it the other way.”
     
    06:19
    At the beginning of our conversation, we discuss our “Risky 6” questions. Jerome shares some risk-related stories from his journey that can help us understand and mitigate risk better. 
     
    What's a risk that you took that changed your life?
    Leaving corporate America. Jerome started working in a consulting firm in 2009. He had the opportunity to grow a construction company to 175 people in a year. However, soon after he had to lay off half of the company’s workforce. Because of that, he decided to leave the corporate world and focus on his true passion, real estate. He wanted to combine service and impact with a profitable business.

    What is a risk that you're comfortable with that maybe other people are not as comfortable with?
    He is comfortable with betting on himself and believing in himself. According to him, if you have a solid strategy, the right support system, and the commitment, you will reach your goals, however big they are.

    As a kid, what were you scared of that would surprise us?
    Jerome didn’t like being alone because he was scared of being lonely. However, he had to go through a period in his life when he learned to embrace being alone and lonely. During this journey, he realized that if he became comfortable with himself, solitude isn't bad at all.

    How would you describe yourself as a decision-maker?
    Jerome does the math first and then does an emotional check. If his emotions and the numbers match, then he moves forward with his decision. If there’s a disconnect between the two, he usually follows the math.

    What's the biggest risk that you see commercial real estate investors take that concerns you?
    The way people over-leverage their property and how they service debt.

    What is a risk to your portfolio that you worry about in the middle of the night?
    That he had delinquency during COVID with his property management agency. He had to change agencies and was able to raise the rent eventually.


    “Many of us are told to be practical and realistic, and that our dreams are not reasonable. But being reasonable doesn't lead to an extraordinary life.”
     
    38:33
    Jerome is a CRE coach, helping people take the leap from their W2 jobs, become business owners, and reach financial freedom. At the end of the episode, he talks about how to take the leap and follow your dreams.
    Adjust your mindset and surround yourself with people who support you and lift you up. Understand that if you don’t follow your dreams, then you won’t be in the position to enable others to reach their dreams too. Have systems and processes in place before you take the leap to help you stay on track.



    About Our Guest, Jerome Myers
    Jerome Myers aka “J” is a developer of people and places. He is the founder and Chief Inspiration Officer of DreamCatchers and The Myers Development Group.
     
    Through these entities, he gets to live out his childhood dreams of helping people manifest the things they imagine and create social proof that dreams should be real.
     
    Since leaving corporate America after building a 20MM division at a Fortune 550 company, J has become one of the most sought-after thought leaders in the multifamily development space. His company, The Myers Development Group, built a multi-million-dollar portfolio following the principles of M

    • 50 min

Customer Reviews

4.9 out of 5
29 Ratings

29 Ratings

raptor2xtreme ,

Very knowledgeable and walks the walk

Too many times podcasters just talk the talk but this podcast and their guests are actually doing it! Great topics and easy to listen to. I especially liked the episode on apartment investing and maybe I have not missed the boat on investing in that asset class!

ErbeSKW ,

Excellent interview

Enjoyed being a guest on your show. Super questions and great conversational interview, brought out the key items people need to learn to retire early with passive cash flow!

B motivated ,

Excellent learning resource

I’ve started listening to podcasts and REI has been extremely informative and unbiased. They have a wide variety of specialized guests. Jeremy asks great questions and recaps the conversations. I thoroughly enjoy the book and next guest questions he asks at the end of each show. I highly recommend this podcast if you are thinking about investing in real estate and wanting to educate yourself.

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