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© 2024 Joe Fairless
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Welcome to the Best Ever CRE Show, the world’s longest-running daily COMMERCIAL real estate podcast. Founded by Joe Fairless, a co-founder of Ashcroft Capital who went from buying $35,000 homes to controlling more than $2.7 billion in real estate assets, the Best Ever CRE Show provides commercial real estate expert insights, education, and timely information to our community of active and passive investors who want to build wealth, build a legacy, and do more good in the world.
So if you want the real stories behind the good, the bad, and the worst ever deals — plus, insights into what really goes on in commercial real estate investing — you’re in the right place. Our hosts interview commercial real estate experts every day to uncover secrets and strategies YOU can use to become a better, more informed investor. This is the Best Ever CRE show.
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Ryan had grown up around the real estate industry with his family being investors. He had a financial analyst role with his dad’s company when he realized the business needed a better way to keep track of everything. He built software to solve the issue, he grew that to 140,000 users. Ryan also purchases real estate with his wife, having more than 175 different assets across 30 states. If you enjoyed today’s episode remember to subscribe in iTunes and leave us a review!
Best Ever Tweet:
“Focus on the value of income more than income as value” - Ryan Smith
Ryan Smith Real Estate Background:
Co-founder of Elevation Capital Group, focusing on Manufactured Housing Communities and Self-Storage
They have more than $500 million of combined acquisition value, 175 assets across more than 30 states
Based in Orlando, FL
Say hi to him at http://elevationcapitalgroup.com/
Best Ever Book: Right Away & All At Once by Greg Breneman
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Amanda Crusie and Ash Patel interview Joe Downs, CEO of the Bellrose Group, who shares his journey into the self-storage industry. Joe discusses the current state of the self-storage market, the challenges and opportunities it presents, and the evolving trends influenced by consumer behavior. He highlights the importance of niche markets and the potential for growth in the self-storage sector, particularly among younger generations. Joe also elaborates on his company's innovative approach to developing pro storage facilities tailored for contractors and small businesses.
Sponsors:
Crystal View Capital
Altra Running
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Eric Brody, Principal at ANAX Real Estate Partners, shares his journey in real estate development, detailing the challenges he faced during the COVID-19 pandemic and how he navigated through setbacks. He emphasizes the importance of mindset, leveraging data and technology, and unique approaches to capital advisory. Eric discusses the current opportunities in the real estate market and offers advice for those facing challenges, highlighting the need for honesty, courage, and a focus on the present.
Sponsors:
Altra Running
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John and Gregg explore the evolving landscape of retail in relation to demographic shifts, particularly focusing on the aging population and its impact on consumer behavior. They discuss how retailers can adapt to meet the needs of different generations, including baby boomers, Gen X, millennials, and Gen Z. The conversation also delves into the future of grocery and open-air retail, highlighting the importance of experiential shopping and community engagement. Finally, they touch on investment opportunities in retail, emphasizing the potential for growth in sectors catering to older demographics.
Sponsors:
Altra Running
Sunrise Capital
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Amanda Cruise and Ash Patel interview Isaac Bennett, founder of UR, a brand business specializing in hard asset syndication and venture advising. Isaac shares his diverse investment strategies, including real estate in Belize, venture capital, and farming. He discusses the challenges and opportunities in international investments, the importance of understanding market cycles, and the risks associated with real estate. Isaac emphasizes the need for accountability in the investment space and explores the potential of farming as a durable investment opportunity.
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In this episode of the Best Ever CRE Podcast, host Joe Cornwell interviews RaL West, a seasoned real estate investor with a diverse portfolio including multifamily units, vacation rentals, and triple net leases. Ral shares her journey from active management to passive investments, emphasizing the importance of building effective systems and leveraging professional property management. The conversation explores market cycles, the benefits of triple net leases, and valuable lessons learned from both successful and challenging investments. RaL also provides actionable advice for investors, highlighting the significance of due diligence and exit strategies.
Sponsors:
Altra Running
Sunrise Capital
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Today on the Best Ever CRE Show, Matt Faircloth hosted a special Next Level CRE segment featuring live consultations with three different real estate investors facing unique challenges. First, he advised Steve Richmond, a semi-retired developer running Workspace USA, on how to scale his successful office/warehouse flex space business while reducing his 60-hour workweeks, suggesting he prioritize hiring a project manager. Next, he counseled Storm and Tara Chileno on their potential motel acquisition in Pennsylvania, recommending they modernize the property with automated systems and add RV parking to serve pipeline workers rather than converting to traditional apartments. Finally, he helped Dan Plaster and Mark D'Alessandro strategize on how to win competitive multifamily deals, suggesting they explore creative financing options with generational owners and focus on direct-to-seller marketing rather than solely relying on broker listings.
Sponsors:
Altra Running
Sunrise Capital
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J Scott, Partner at Bar Down Investments and Host of the Drunk Real Estate Podcast, discusses the current state of the multifamily housing market, focusing on trends, challenges in new construction, the impact of wages on rent growth, and the dynamics of supply and demand. They explore the implications of low housing starts, the importance of tenant affordability, and innovations in construction methods, including modular housing. The discussion highlights the complexities of the market and the interplay between economic factors and housing availability.
J Scott | Real Estate Background
Partner at Bar Down Investments and Host of the Drunk Real Estate Podcast
Portfolio:
About 1,000 units of SFR and multifamily
5,000 units as an LP
Based in: Sarasota, FL
Say hi to him at:
jscott.com
Best Ever Book: Thinking, Fast and Slow by Daniel Kahneman
Greatest Lesson: The value in holding property for the long-term. That's where real wealth building happens.
Sponsors:
Altra Running
Sunrise Capital
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Amanda Cruise and Ash Patel discuss the current state of the self-storage market with Faraz Hamani, owner of Pebble Capital Group. They explore the evolution of self-storage post-COVID, the challenges of rent pressures, customer retention strategies, acquisition tactics in a changing market, and the impact of cap rates and financing on the industry. The discussion also touches on the comparison between self-storage and mobile home parks, highlighting the unique challenges and opportunities in both asset classes. In this conversation, the speakers delve into the intricacies of self-storage and flex space investments, discussing the impact of data science on rent management, innovative tenant assessment techniques, and the importance of understanding tenant behavior. They share valuable lessons learned from past investment mistakes and explore current market trends in self-storage and flex spaces. The discussion also covers development strategies in high-demand areas, the appeal of flex spaces, and the challenges of retail investment, concluding with insights on investor relations and return strategies.
Faraz Hemani | Real Estate Background
Owner of Pebble Ridge Capital Group
Based in: Houston, TX
Say hi to them at:
LinkedIn
www.IronStorage.com
Sponsors:
Altra Running
Sunrise Capital
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In this episode of the Best Ever CRE Show, Amanda Cruise interviews Keith Kulow, a former US Navy test pilot turned real estate investor. Keith shares his journey into real estate, focusing on multifamily investments and joint ventures. He discusses the differences between syndications and joint ventures, the importance of having a well-defined exit strategy, and the role of contract attorneys in structuring deals. Keith also highlights his current focus on multifamily and retail investments, the challenges faced in the retail sector, and details about a new build-to-rent project in Knoxville.
Keith Kulow | Real Estate Background
Founder, Managing Partner of Loom Equity
Based in: Virginia Beach, VA
Say hi to them at:
LinkedIn
www.LoomEquity.com
Sponsors:
Altra Running
Sunrise Capital
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In this episode, John Chang discusses the commercial real estate investment outlook for 2025, highlighting the potential impacts of political changes, economic challenges, and demographic trends. He emphasizes the opportunities that may arise amidst uncertainty, particularly in the context of labor shortages and shifting market dynamics across various regions.
Sponsors:
Altra Running
Sunrise Capital
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Today we’re taking a look back at some of the Best Ever clips from the past year. Today, we’re bringing you Part II of our two-part Best of 2024 recap.
In this episode, Andy Weiner invests where nobody else wants to, Rachael Jones survives a nightmare deal, Neal Bawa is land squatting, and Don Wenner teaches us how to scale.
Listen to their full episodes from 2024 below:
Andy Weiner — JF3675: The Secret Sauce Behind the Boring, High-Cash Flow Sector Most Investors Avoid
Rachael Jones — JF3624: What Really Happens After an Apartment Complex Fire
Neal Bawa — JF3645: The Biggest Opportunity Nobody's Talking About, the Truth About Pref Equity, and Why CRE Has Officially Bottomed Out
Don Wenner — $5 Billion in Deals, Building Thriving Communities, and the Goal of 1 Million Affordable Homes
Also, visit besteverconference.com and use the promo code podcast25 at checkout to receive 25% off your ticket
Sponsors:
Altra Running
Sunrise Capital
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With only a couple of days left until 2024, we’re going to take a look back at some of the Best Ever clips from the past year. And there were so many to choose from we couldn’t fit it all into just one episode. So today’s show is Part I of a two-part Best of 2024 recap.
In this episode, John Fedro shines a light on an unconventional niche in mobile home park investing, Aleksey Chernobelskiy shares the truth about capital calls, CRE legend J Scott teaches us how to invest like him, and John Wilhoit Jr. gives a mini masterclass in due diligence.
Listen to their full episodes from 2024 below:
John Fedro — JF3547: The Unconventional Mobile Home Park Investing Strategy Nobody's Using (Part I)
Aleksey Chernobelskiy — JF3544: LPs Beware - Red Flags to Look for When Answering Capital Calls
J Scott — JF3534: Strategy Secrets That Made J Scott a Real Estate Legend
John Wilhoit, Jr. — JF3517: Cheat Codes to Accurately Assess Capital Expenditure Needs Ahead of an Acquisition
Also, visit besteverconference.com and use the promo code podcast25 at checkout to receive 25% off your ticket
Sponsors:
Altra Running
Sunrise Capital
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In this episode of The Best Ever CRE Show, Joe Cornwell interviews Ira Fishman, owner of North Loop Investments, who manages a portfolio of over 400 units across Illinois, Wisconsin, and South Carolina. Ira shares his 15-year journey in real estate, including his early experience with a challenging 12-unit Section 8 property before the 2008 recession. The conversation focuses heavily on HUD properties and affordable housing, with Ira explaining the differences between traditional Section 8 vouchers and HAP (Housing Assistance Payment) contracts. He reveals that about 55% of his current portfolio consists of HUD properties, driven by his personal mission to help others inspired by his experience raising a son with special needs. Ira and his wife have even developed specialized housing for young adults with disabilities. The discussion explores the challenges of managing aging affordable housing stock from the 1970s, what he calls a "CapEx tsunami," and broader housing market trends. Looking ahead to 2025, Ira predicts more buying opportunities may emerge as sellers become more realistic about pricing and interest rates potentially improve toward year-end.
Ira Fishman | Real Estate Background
Owner, Manager and Founder of North Loop Investments
Based in: Chicago, Illinois
Say hi to them at:
Linkedin
www.NorthloopInvestments.com
Sponsors:
Altra Running
Sunrise Capital
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In this episode of The Best Ever CRE Show, Matt Faircloth interviews Chris Stout, a former New York City firefighter turned real estate investor who has built a portfolio of over 700 apartment units. Chris shares his journey from living in a mobile home park at age 10 to becoming a successful real estate investor, starting with buying two-family homes in Staten Island. The conversation explores his innovative approach to property management, including his "ruthless asset management" philosophy of focusing on operational efficiencies like consolidating maintenance work orders to one day per week. Chris details a recent successful project where he purchased a 24-unit townhouse community in Fayetteville, Arkansas for $2 million, invested $500,000 in renovations, and is selling the units as individual condos for $180,000-$200,000 each, generating approximately $1.6 million in profit. The discussion covers the surprisingly simple process of condo conversion in Arkansas compared to Northeast markets, as well as Chris's strategy of targeting properties with below-market rents for acquisition. Chris emphasizes the importance of location and purchase price as the two factors investors can't change after acquisition, and shares how he's leveraging his track record to secure favorable local bank financing for future projects.
Chris Stout | Real Estate Background
Owner of Stout Capital
Based in: New York City
Say hi to them at:
LinkedIn
www.stoutcap.com
Sponsors:
Altra Running
Sunrise Capital
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In this episode of The Best Ever CRE Show, Slocomb Reed interviews Brandon Reed, founder and chief visionary officer of Loft Six Four, a boutique firm specializing in rooftop amenities for large apartment complexes. Brandon shares insights from his landscape architecture background and how his firm has evolved to focus on creating immersive outdoor experiences that drive property value. Despite the current narrative of development slowdown, Brandon reveals they handle 30-50 projects annually, though this represents a 50% drop from peak levels. He notes that development continues in markets like Dallas and Utah, primarily driven by well-capitalized developers with deep pockets or family offices who can weather high interest rates. Brandon explains that properly designed amenities can generate an additional 10-20 cents per square foot per month in rent and help maintain high occupancy rates. The conversation explores trends in amenity design, with a focus on creating hospitality-like experiences that foster community and justify premium rents. Brandon emphasizes that while individual amenities like pools and fire pits are important, the key is creating cohesive outdoor living spaces that become talking points and drive resident retention.
Brandon Reed | Real Estate Background
Founder and Chief Visionary Officer of Loft Six Four
Based in: Salt Lake City, Utah
Say hi to them at:
LinkedIn
LoftSixFour.com
Sponsors:
Altra Running
Sunrise Capital
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Amanda Cruise and Ash Patel interview Brian Spear, principal and co-founder of Sunrise Capital Investors. Brian shares his journey from living in a mobile home park at age 10 to building a portfolio of over 20 mobile home parks and $100 million in parking facilities across 14 states. The conversation explores how Sunrise transitioned from a fix-and-flip model to a long-term hold strategy, with Brian explaining their focus on returning capital quickly through refinancing while maintaining infinite cash-on-cash returns. The discussion heats up when Ash challenges the industry trend toward generational holds, leading to a debate about investor liquidity and market timing risks. Brian details their recent acquisition of a parking facility near Charlotte's Spectrum Center, breaking down how they carved out a $31 million parking asset from a $250 million distressed mixed-use property. The episode also covers how technology and dynamic pricing are transforming the parking industry, and why Brian views parking lots as the ultimate "location, location, location" play.
Brian Spear | Real Estate Background
Principal & Co-Founder Sunrise Capital Investors
Based in: Clearwater, FL
Say hi to them at:
LinkedIn
www.SunriseCapitalInvestors.com
Sponsors:
Altra Running
Sunrise Capital
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In this episode of The Horizon with John Chang, John interviews economist John E. Silvia to discuss economic outlook and housing market trends. Silvia shares insights on consumer sentiment improvement and housing affordability challenges, particularly in coastal markets. They explore how high interest rates, construction costs, and labor shortages are impacting housing supply, with Silvia noting significant regional disparities in affordability. The conversation covers rental housing trends, with particular focus on Sun Belt markets experiencing high supply growth but strong absorption. They discuss the emergence of build-to-rent models and alternative housing options like townhouses and condos as solutions to housing shortages. Silvia predicts continued strong housing demand over the next 5-10 years but expects construction to remain in "second gear" relative to historical levels, maintaining the current housing shortage of 3-5 million units.
John E Silvia | Real Estate Background
CEO and Founder of Dynamic Economic Strategy
Based in: Captiva, Florida
Say hi to them at:
LinkedIn
www.johnesilvia.com
Sponsors:
Altra Running
Sunrise Capital
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In this episode of the Best Ever CRE Show, Jeff Berlin joins host Joe Cornwell to discuss his journey from dentist to real estate investor. Berlin shares how reading "Rich Dad Poor Dad" led him to start investing in real estate, beginning with single-family homes in the Midwest before scaling to multifamily properties. He discusses his experience buying and selling a 30-unit property in Cincinnati and a challenging venture into assisted living facilities in California that taught him valuable lessons about partnerships and staying focused. Berlin emphasizes the importance of specializing in one area of real estate rather than getting distracted by "shiny object syndrome." He also provides insights on current market conditions, noting how broker expectations and underwriting standards have changed over the years, making it more difficult to find cash-flowing properties even in traditionally stable Midwest markets.
Sponsors:
Altra Running
Sunrise Capital
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In this episode of the Best Ever CRE Show, Stephen Lee-Thomas joins host Slocomb Reed to discuss his journey from IT professional to full-time multifamily investor. Lee-Thomas explains how he started as a passive investor in 2017 before transitioning to becoming a GP with a current portfolio of 1,400 units across six properties valued at over $100 million. He focuses on value-add properties in the Dallas-Fort Worth area, where he has experienced both successes and challenges, particularly with properties purchased using bridge debt during the recent interest rate increases. Lee-Thomas shares insights about market cycles, emphasizing that while some properties are currently struggling with debt service, he remains optimistic about future opportunities, especially given the lack of new construction starts and continued population growth in Texas markets. He stresses the importance of choosing the right partners and being prepared for challenging times in multifamily investing.
Stephen Lee-Thomas | Real Estate Background
Founder of Multifamily Mastery Hub
Based in: Fresno, CA
Say hi to them at:
LinkedIn
Multifamily Mastery Hub
Sponsors:
Altra Running
Sunrise Capital
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Aaaah yeah.. It's J for real!!
very poor audio quality on your guest voice !! I had to stop listening..