W.I.R.E.D. (Wealth In Real Estate Development)

In this episode, host Nick Smith discusses U-haul's Growth Index Report for 2023.  This report ranks 50 U.S. states by growth based primarily on one-way U-haul equipment rentals that occur within the calendar year.The reports for the last 5 years were also analyzed.  And several states continuously appear in the top 5 and several others continuously appear at the bottom.  Some of the common traits that you see in both groups are discussed in this episode.If you'd like to review this report, please check it out at the link below:https://www.uhaul.com/Articles/About/U-Haul-Announces-Top-Growth-States-Of-2023-30660/And if you have any interest in investing in commercial real estate, please visit Nick's website:https://www.coldwellbankerhomes.com/in/schererville/agent/nicholas-smith/aid_244073/

In Part 2 of the interview with J. Calaway with The Gate Church and InnerMission, Inc. of Hammond, IN, the importance of "Who" not "How" is discussed.  He talks about he struggled with this concept early on but has come to value its significance now.He also talks about an experience he had with his introduction to the Section 8 program.  Though there are many different opinions about the Section 8 program, he sees it as just one of many tools that can be used to help a person move from Surviving to Thriving.Pastor Calaway also discusses some of the challanges he has faced in doing real estate development, primarily during the crash of 2008.  And he ends the interview giving advice to any individuals that want to break into the real estate development arena while making community and social impact.If you'd like to learn more about J. Calaway and/ or InnnerMission, Inc., please visit their website:  www.InnerMissionInc.com.

In this episode of Wealth In Real Estate Development WIRED), host Nick Smith interviews J. Calaway, Senior Pastor of the Gate Church in Hammond, Indiana and Founder/ President of InnerMission, Inc. Pastor Calaway has been at the Gate for 35 years.  After 3 years of serving as the Youth Minister, he became the Senior Pastor.  From his perspective, the church should be more than a meeting place 1 day of the week.  But it should be more of a practice field where people learn "plays," and deploy those out into the community.He discusses how the organization, InnerMission, Inc., originated.  And that its mission is to take a person from "Surviving to Thriving" in every aspect of their life.  And housing is a foundational component to this process.Pastor Calaway shares a moving experience he had while walking around some vacant land that surrounded the church.  This served as a defining moment in his life.This is part 1 of this interview.  Be sure to also check out part 2!  And if you'd like to learn more about Pastor Calaway and/ or InnerMission, please check out their website.www.innermissioninc.com

Welcome to 2024!!  On this first Wealth In Real Estate Development episode of the new year, it was a pleasure to interview Rick Wajda, CEO of the Indiana Homebuilders Association (IHBA).  Rick discussed the history of the organization and its mission to keep housing safe and affordable for all Indiana residents, aka Hoosiers!The current median home price in the state of Indiana is around $400,000.  However, 75% of Hoosiers do not have the income to support this price point!  This disconnect and how this gap can be narrowed was discussed.    Rick also addressed some of the challenges that face the new construction industry.  The number of developers/ contractors have drastically decreased as compared to prior then 2008.  There is a lack of qualified contractors.  In addition, government impact and permit fees are drastically increasing the cost of new homes in many communities.Rick talked about how the IHBA is working to get children more interested in the trades.  This is something many communities and schools should be looking into.  And he discussed recent legislation that will allow the State of Indiana and some of it's local municipalities to partner in bringing infrastructure costs down for new housing.       For more information on the Indiana Homebuilders Association, please visit their website:  www.buildindiana.orgThank you so much for watching!

In this episode of Wealth In Real Estate Development, host Nick Smith discusses the world of "hard" money with Michael (Mike) Mann aka "Your Money Mann."  One of Mike's specialties is helping investors get their real estate projects financed.Mike explains the difference between hard money and private money.  And he also shows how both can be beneficial tools for real estate entrepreneurs.  In addition, Mike gives an awesome explanation on how an investor should determine if a certain real estate investment is actually a good investment.Mike also gives very transparent reasoning as to why it is challenging for investors to get financing for new construction projects.  But he doesn't leave you without hope as he also gives some ways these challenges can be overcome.  If you'd like to connect with Mike to help get your developments financed, please feel free to reach out to him via email at Mike@YourMoneyMann.com.

In this episode of Wealth In Real Estate Redevelopment (W.I.R.E.D.), host Nick Smith interviews Anastacia Fratto of ResElevate.  ResElevate offers development consulting services and strategic partnerships to developers in the Chicagoland area.Anastacia gives her background as master plan community developer and discusses how planning a community differs from planning/ executing a development.  Anastacia also discusses a $27 Million development that she and some of her partners are currently working on in Hammond, Indiana known as the Bank of Calumet or "The Banc."  This mixed use development once completed will feature commercial space on the bottom floor with 90 units of residential apartments on the upper floors.Anastacia discusses how important it was to keep the rents affordable, but not make the development a low-income housing development.  In this country, there is a good amount of housing available to those of low income.  And of course the financially wealthy don't have a housing problem.  But the sector that gets overlooked most of the time is the "missing middle."To find out more about Anastacia and ResElevate, feel free to visit their website:www.ResElevate.comAnd to get more information on "The Banc" development, please visit its website:www.TheBancHammond.com

In this episode of Wealth In Real Estate Development, host Nick Smith discusses the age-old debate of building new vs. buying existing real estate as an investor.  There is actually no right answer to this question.  It depends on many factors.Do you have any experience with new construction?  Or do any of your partners have experience with new construction?  How risk tolerant are you?  Also, another big question is how many financial resources do you have at your disposal?Unless you have new construction experience or you have a partner with that experience, it is probably not advised to start with building a new product.  It is probably better to start with a few moderate rehabs.  This will allow you to learn the basics of how a property's major components are constructed.  But if new construction is the goal, don't lose sight of that!  If you are interested in discussing real estate development opportunities in the Northwest Indiana/ Chicagoland area or anywhere throughout the country, please feel free to reach out to host Nick Smith via email at nicholas.smith@cbrealty.com or by phone at (219) 805-2857.

In today's episode of Wealth In Real Estate Development (W.I.R.E.D.), host Nick Smith sits down with Phylis Mamula of DesignTech.  Phylis has almost 40 years of experience in the interior design field.  Phylis studied interior design at the former Harrington Institue of Interior Design which was located in Chicago, IL.  And she has designed everything from entire floors in high rise office buildings, to medical offices, restaurants, historic renovations, homes and much more.    Many real estate investors and developers argue that superior interior design and staging are not necessary.  However, Phylis argues that well designed and staged homes will typically sell quicker and for more money than homes that are not.  And this will be even more crucial as the real estate market shifts to a stable and/ or buyer's market.  And the colors you paint your walls do MATTER!  Phylis also discusses how technology has drastically changed the design industry. During the pandemic, she shifted to doing a lot of residential work because as offices were shut down, people were looking for ways to make their living spaces more "work from home" friendly.  And she was able to perform consultations online.  Phylis also believes that the recent phenomena of co-work spaces and shared offices are here to stay!If you would like to reach out to Phylis, please contact her at the following:Email:  Phylis.designtech@gmail.comPhone: (219) 932-2000Facebook:  https://www.facebook.com/phylis.mamula

In this episode of Wealth In Real Estate Development, host Nick Smith discusses the journey of being a real estate investor in Gary, Indiana with Cory Armand of Armand Investment Group.  Cory has been investing primarily in Gary, IN for well over a decade.  This investing career has afforded him the opportunity to leave his job and become a full-time real estate investor.  He details how he bought his first properties through tax sales.  And back in earlier investing days, you could even buy decent houses through realtors for around $10,000.Cory explains how he went from single family homes to multifamily, and his most recent project was a major rehab of a commercial property.  This property required a gut rehab.  And now, it serves as a location of a fast-food restaurant, 4 individual office spaces that are leased out, a location for businesses that need a physical mailing address along with a few other uses.  He truly maximized the space in this location!   Cory is a phenomenal example of seeing challenges in your community and doing something about them!  He doesn't just talk the talk, but he walks the walk!  If you'd like to reach out to him, please do so at one of the following. Facebook: https://www.facebook.com/cory.armand.1Northwest Indiana Creative Investors Association:  www.nicia.orgwww.aigbusinesscenter.comwww.armandinvestmentgroup.com

In today's episode of Wealth In Real Estate Development (W.I.R.E.D.), Nick Smith interviews Julie Holly of Three Keys Investments and host of the highly acclaimed Conscious Investor podcast. Julie specializes in helping passive investors find profitable real estate investments to park their money.  She works primarily with multifamily and assisted living asset classes.Julie gives an excellent explanation of the main differences between the multifamily and assisted living asset classes.One of the main topics we discuss is real estate syndication and how it can afford you the opportunity to be involved in larger deals.  We discuss the various aspects of syndication and how a person can identify what role they want to play.  Julie gives us good insights on how she picks great real estate opportunities along with what actually makes a person ideal as a passive investor.  We end the show discussing her involvement and takeaways from being part of the general partnership team in a current $30 million multifamily development in North Carolina.To connect with Julie or listen to the Conscious Investor podcast, please use any of the following methods.  LinkedInhttp://linkedin.com/in/julie-hollyThe Conscious Investor Podcasthttps://www.threekeysinvestments.com/podcastCompany Websitewww.threekeysinvestments.com

October is breast cancer awareness month.  Therefore, in this episode of Wealth In Real Estate Development (W.I.R.E.D.) host Nick Smith discusses his mom's recent battle with breast cancer (which she won!) and the business lessons he learned from it.Nick uses the acronym "APE" as the title of the strategy to get you to your real estate development and investing goals.  A - Acknowledge, P - Plan, and E - Execute.  You first have to acknowledge where you are on in your investing journey.  Next you have to plan for where you want to go.  And lastly, you MUST execute the plan!If you'd like to connect with host Nick Smith about any of your development or commercial real estate goals, please feel free to email him at nicholas.smith@cbrealty.com

In this episode of Wealth In Real Estate Development (W.I.R.E.D.), host Nick Smith has a candid conversation with Eric January.  Eric is the CEO of Conduit Investment Advisors and the Principal with Eric O'Neal January & Co.  As a CPA, Eric sees the good, bad and ugly as it pertains to entrepreneurs.  And in today's interview, he provides a ton of advice on how to comprehensively make better business decisions.One of the things explored in this interview is Eric's book series, "Gainology/ MoSense."  In part of this book series, Eric uses physics principles to illustrate economic concepts that everyone can learn from.  And as someone that has prepared a large number of tax returns, he also discusses some of the major mistakes that he's observed from many of his clients.  Eric also gives his opinion on if some of the currently legal tax loopholes that real estate investors have access to are in jeopardy.  And to bring this episode to a close, he shares some advice on how entrepreneurs can identify an appropriate tax professional to work with.If you would like to contact Eric or order his books, please use the following information:www.conduitadvisors.com(877) CONDUIT  

In this episode of Wealth In Real Estate Development (W.I.R.E.D.), host Nick Smith sits down with residential Mortgage Loan Originator, Aaron Stokes of First Financial Bank located in Northwest Indiana.If you are building properties to sale, then you must have good mortgage loan originators on your team.  Aaron discusses how he got his start as a mortgage broker almost 20 years ago.  A few years after this start, he shifted to become a real estate agent.  But around 2008, he sensed that a storm was brewing so he went back to mortgage banking.In this episode, he discusses how the mortgage industry has changed since 2008.  He also discusses some of the major challenges currently facing the mortgage business.  Aaron also gives his opinion on if he thinks that we are headed for another foreclosure crisis.  I also asked him what some of the main reasons people are not qualifying for mortgages in today's climate and you might be surprised by his response.Even though this show is not geared toward residential retail homebuyers, nobody can deny the immense economic impact that mortgage lending has on the U.S. economy.  So, on this episode, listen and learn from a true industry expert!If you would like to reach out to Aaron, please do so at the following:Phone:  (219) 455-1382Email:  Aaron.Stoke@bankatfirst.com    

In keeping with the theme of playing defense in your wealth building journey, today's episode of Wealth In Real Estate Development (W.I.R.E.D.), features host Nick Smith interviewing Randy Raines, owner of the Raines Insurance Group located in Valparaiso, Indiana.  His company offers property, automobile, life and business insurance coverage options.  And a big portion of his clientele are real estate investors.Randy discusses his background as working on the floor of the Chicago Stock Exchange for 13 years prior to starting Raines Insurance Group.  This experience gave him key insights into topics such as interest rates, inflation, and many other economic indicators.  But after the 9/11 terrorist attacks and the transition to electronic trading, Randy started looking for something new.In this episode, Randy explains the importance of focusing on your insurance coverage and not the premium.  He also gives some valuable information on what many property insurance policies are not automatically covering anymore.  In addition, he discusses how important it is to have actual coverage for your businesses.  People losing literally everything due to lack of or improper insurance coverage is a real thing!  But Randy gives great advice to make sure that is not YOU.If you would like to contact Randy, please do so at the following:Phone: (219) 561-0102Email:  Randy@InsuranceByRaines.comWebsite: www.insurancebyraines.com  

In today's episode of Wealth In Real Estate Development (W.I.R.E.D.), host Nick Smith chats with Patrick Cailles, Director of Sales and Marketing for Barrister Title.  Barrister Title is a title company with three locations throughout the Chicagoland area, two in Illinois and one in Northwest Indiana.Patrick breaks down what is title insurance and why it's vital to your overall wealth-building strategy.  The field of wealth building is very familiar to Patrick as he spent several years as a Wealth Advisor prior to accepting his current position as Barrister.  Therefore, he also discusses the common characteristics and/ or practices he observed from his most successful clients.  When purchasing real estate of all kinds, title insurance acts as a defense against liens, judgments, estranged ownership, etc.  These items most times are not in plain sight.  Patrick also gives his real-life examples of how a person can be negatively impacted financially in trying to save a few bucks by not purchasing a title insurance policy.To end this episode, Patrick gives his overall view on what trends he's seeing in the real estate market and where he thinks it's heading. If you would like to connect with Patrick, he can be reached at the following.Phone: (765) 414-0276Email:  patrick@barristertitle.com

In today's episode of Wealth In Real Estate Development (WIRED), host Nick Smith interviews Bryan McCloskey, Wealth Strategist with Paradigm Life.Nick and Bryan discuss on a high level how you can literally create your own bank to do real estate deals using specially designed whole life insurance policies.  Bryan believes that everyone should know about these types of policies and should be using them.  In the past, most families had whole life insurance policies.  However, when the 401K started gaining steam in the 1970's, these types of policies faded in popularity.Bryan believes that this vehicle can be great for real estate investors because you have immediate access to the cash value in these policies.  NO CREDIT CHECKS OR APPLICATIONS INVOLVED!  Bryan also emphasizes that many of his older clients wish they knew about this option earlier in life.If the idea of "becoming your own bank" interests you, than this is the episode for you!To learn more about Paradigm Life, please visit their website at www.paradigmlife.net.And to connect with Bryan, feel free to email him at bmccloskey@paradigmlife.net. 

In this episode of Wealth In Real Estate Development, host Nick Smith has a fireside chat with Raquel Favela who is the Executive Managing Director of Technical Advisory & Training with the National Development Council (NDC).NDC is one of the nation's oldest non-profit organizations that provides technical advisory and funding support for various community development initiatives in the underserved communities of the country.  NDC also currently has opportunities such as the SEED Academy which is focused on growing the amount of minority and woman developers.  Raquel gives a super explanation on the various types of tax credits available to developers to create affordable housing opportunities throughout the country.  She also expounds upon why a developer would want to go the "brain damage" involved with utilizing these funds.If you have ever wanted to learn more about the world of affordable housing development through the use government incentives, this is an episode that you don't want to miss!If you'd like to reach out to Raquel, please feel free to email her at rfavela@ndconline.org.And you can learn more about NDC at ndconline.org.    

In this episode, W.I.R.E.D. host Nick Smith sits down with Patrick Bell, Director of Business Development with the Coldwell Banker Commercial Metro Brokers in the Atlanta, Georgia area.Patrick is commercial real estate broker specializing in land transactions.  However, before becoming a broker, Patrick served as an elected County Commissioner in Fulton County, Georgia.  Patrick discusses how this experience gives him a different viewpoint than most brokers.  He also discusses what he considered when he assessed a development project's viability as a commissioner.Much of the developable land and/ or structures around the country are owned by local units of government.  So, Patrick gives valuable insight into how a developer and/ or investor should approach a local municipality about developing a site that they currently own.  The current affordable housing shortage is a main topic in today's episode and Patrick offers key insight into some possible solutions for this crisis.  And to end the show, Patrick gives great advice to anyone interested in pursuing endeavors in real estate development.Feel free to contact Patrick using his contact information below:Phone: (678) 631-7386Email:  Patrick.Bell@metrobrokers.com

Whether a fix and flip, a buy and hold or ground up new construction, funding is needed to make any of these deals happen.  And in this episode of W.I.R.E.D., I interview Brandon Ellington aka "Brandon Mr. Finance" to discuss how to find the capital needed to create financial freedom through real estate investing!  With Brandon's former mortgage banking background, he brings a ton of knowledge and expertise in the area of finances.  Brandon provides valuable insight into where many are failing when it comes to the use of credit.  And more importantly, he shares his experience and advice on how people can properly use credit to get in the real estate investing game!  Brandon also offers insight on how developers can build properties more affordably.  If you are a new or experienced real estate investor, at some point you will need access to more capital.  So, be sure to listen to what Brandon has to say as he lays out a plan on getting you the funds that you need!Contact Brandon Here:Website:www.BrandonMrFinance.comPhone:(812) 244-3609