Cody previously worked as an accountant for the Pritzker Family Office where he was responsible for managing the accounting duties for a number of different investment entities. ", - David Scherer, Co-CEO of Origin Investments. The HVC all those things. Justin joined Origin in October of 2022 as an Investor Relations Generalist. If you get that right, then thats who you really want to put your money with, whether its a syndicate or a fund. Stephanie's Voice career has been on and off, but fans think of her as a regular due to her . Tom currently resides in Denver with his wife and children, is a cyclist, skier and loves to travel. And we understand that that is just as important as generating returns and letting investors know how youre doing it. Some assets weve sold in a year and a half, some assets we hold five or six years. Prior to joining Origin, Vince worked at Duff & Phelps where he conducted business enterprise and intellectual property valuations for use in the corporate acquisition process. Tom Wheelwright CPA, author of Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes (Rich Dad Advisors) discusses the greatest financial benefits to multifamily real estate investing. Michael Episcope: I mean a lot of people, Im probably guilty of it as well, but a lot of people correlate, because they have money, they know more than the other person. Im not gonna do his bio or history any justice, so were gonna go right to you, Michael. Michael Episcope: Nobodys gonna buy it. We can borrow from one asset to fix another and shore up. I think Class C might be generous in some of that stuff. She is instrumental in executing marketing campaigns to drive new investors for our private real estate funds. A business plan generally takes anywhere from 18 to 36 months, and instead of generating 7%, a stabilized asset, maybe well generate 12% in two years and well get some level of appreciation. Because sounds to me like that might be an asset that youd wanna keep, if it werent in that scenario. In order to finance his lifestyle, at one point Michael took a $380 million loan from Bank of. Present portfolios valued over almost a half a billion dollars, or more than a half a billion. Thats a brilliant strategy, Michael. Sure. He is a member of the Urban Land Institute. Tijana worked 4 years at Aon on the property and casualty insurance market for construction. REAL TIME NET WORTH as of 3/21/17: $1.34 B. Before Equity Office Properties, Tom worked as a commercial credit analyst at JP Morgan Chase. Kate Khazin leads investor relations and is responsible for scaling internal processes to fuel Origins explosive growth. Its very unusual. Michael Episcope: No, but I have it on my desk, my partner [overlap talk]. Rod Khleif: Right. She also likes to watch Netflix and going out to eat sushi. Its really Its everything we look for but its a good quality asset. Prior to joining Origin, Gina worked for some of the leading luxury hotel brands, including the Peninsula Chicago and Fairmont Grand Del Mar, San Diego. Michael has an estimated net worth of $65 million, according to Celebrity Net Worth. Rod Khleif: What other fees? Upon graduating from Marquette he then took a job at CIBC Bank in Chicago on the Corporate Real Estate team. He remains active in the community and alumni Programs for both MSU and the Evans Scholarship House. . Kevin was a member of the development & acquisitions teams focused on large multifamily driven mixed-use developments in the Washington, DC area. Chris is responsible for the development oversight, lease-up execution, and operational and financial performance of the firms multifamily properties across Nashville and the state of Texas. Well, I heard somebody else bring this up. At Origin, she is responsible for running our office smoothly and daily administrative duties that include managing calendar appointments, completing expense reports and arranging travel plans, itineraries and agendas. Yeah, and it was our second asset in Naperville. She received her BBA degree in Finance and Management from Florida International University. When I look back, I could look at a deal, and I was trying to evaluate people, and he was vouched for by a good friend of mine, but you fast-forward a couple of years and we went into very bad times. Steve is an Investor Relations Associate whose responsibilities include expanding the firms investor base and serving the needs of our high-net worth individual investors. Technically, Michael Jackson's net worth at the time of his death was negative $500 million. Vince joined Origin in 2017 and he leads Origins fundraising and investor relations department. Phil loves to travel, participate in sports leagues and cheer on the Cincinnati Reds and Bengals. Michael Episcope: Well it was a positive for us because to state that they didnt understand best practices around property management would be an understatement. Were under contract for the very last unit, so its taken a while to buy the other 18, but I will say that the condo owners were really stuck as well because you cant sell a condo in a broken structure. Tommy graduated from Northwestern University in 2018 with a Bachelor Communications and Business Institutions. And he actually did. Michael Episcope: And I will tell you, Rod that is the common theme. Net Worth: Relationship: Kids: Edit this Information. Theyre fairly sophisticated but Id like you to break down why you like a fund versus individual syndications for specific properties. We have a real powerhouse on the show today. Any investments will only be made with proper disclosure and subscription documentation, and subject to all applicable laws. Dr. Dahle's conversation with Origin Investments about what all high-income earners need to consider when investing to grow their net worth.The White Coat In. Rod Khleif: Guys, just so you heard that, hes in at the third equity instead of the typical agency debt. Maria serves as a marketing associate at Origin, working with and supporting all marketing channel owners. Access Your Free Copy Of The MF Property Checklist Now And Gain The Guidelines To Securing Your, MMXXII K L Promotions, LLC All Rights Reserved. At AlterDomus, Garrett provided portfolio administration and cash management services for several credit fund portfolios. Rod Khleif: Its not how much you make, its how much you dont lose. Rod Khleif: Let me ask you this, maybe its just because of the way the fund is structured but if its a quality asset like that, and youve raised the value obviously significantly, you could probably refinance and cash out Well, I get it. It peaked at #3 on The New York Times Best Seller list. Jonathan is a Posse Scholar and received his Bachelors degree with a major in Media Studies from Pomona College in Claremont, California. In his free time, he enjoys spending time at the lakefront, trying new foods, and traveling. Michael Episcope: Yeah, especially in assets because were more of a buy-fix-sell strategy where were buying underperforming assets and if we lose a tenant or we have to backfill a tenant, we need to do that. Specialist vs Generalist RELATED: 15 Times Seinfeld Was Hilariously Accurate About Life Im happy to talk about that a little bit. As one of Americas top real estate professionals Rod mentors business leaders and entrepreneurs through world-class speaking events, books, and training courses online and around the world. Can we actually improve it and get what we think? Summary. Michael Episcope: When an investor commits to a fund, they start paying fees on their entire commitment on the day they commit. When it all crashed and burned, there were a lot of broken ones where some of the units have been sold. He brings with him over 7+ years of digital marketing experience in both B2B and B2C marketing. View Background Details. Michael Episcope - $1 Billion in Multifamily and Commercial Real Estate Transactions Ep #225 Michael Episcope - $1 Billion in Multifamily and Commercial Real Estate Transactions Watch Now Listen Now LIFETIME CASH FLOW THROUGH REAL ESTATE INVESTING LIFETIME CASH FLOW THROUGH REAL ESTATE INVESTING Preston received a Bachelor of Business Administration majoring in Real Estate and Urban Land Economics from the University of Wisconsin-Madison. Rod Khleif: Its the most important parameters. He is an avid outdoor hobbyist and ultramarathon runner. So even if youre reinvesting that capital, youre only reinvesting 75% of that profit rather than 100%. I can give you a couple of examples if you want. Worked at the Chicago Merc Exchange. She managed daily web and monthly print publishing schedules, oversaw operations and interviewed owners and operators around the world. Its a very defined parameter, so not only do they know exactly what theyre doing everyday and where theyre hunting, but the brokerage community and the ownership community, and the management community knows what were looking for as well. Webinar today at 11AM CT: Join Origin Co-CEO Michael Episcope and Managing Director of Acquisitions Dave Welk for our IncomePlus Fund webinar. Dave joined Origin in 2011, and, over that time, has completed over $1.1 billion of direct and joint-venture investments comprising of a host of physical and operational repositioning strategies and ground-up development of multifamily and office assets throughout Chicago and the Southeastern U.S. They will discuss Origin's first closed deal in. Steve graduated from the University of Iowa in 2020, where he studied Business Administration, Economics, and International Relations. Rod Khleif: Sure And their friends, and their relatives. Rod Khleif: Yeah, I mean thats why the index funds are the largest on the planet. Prior to Origin, David served as company president for a privately financed hedge fund. Of course, youre absolutely fixing these units up to sell them as condos. Im not If everything wouldnt have gone well and I wouldnt have lost money because of the crisis thats under, you know Okay, the big [bad audio]. I could barely get my head through a door cause I thought I was a real estate god and you know. In 2018 he graduated from Marquette University with a degree in Commercial Real Estate. He received his Bachelor of Science Degree in Accounting from Michigan State University and a dual Master of Science in Accounting and Master of Business Administration Degree from Loyola University Chicago. Michael Episcope: Yeah. Prior to Origin, Michael had a prolific trading career and twice was named one of the top 100 traders in the world by Trader Monthly Magazine. Rod Khleif: Right. If we make $100,000 commitment to fund, we dont take it all upfront because we dont have a portfolio of assets. You think you know what youre doing so you get comfortable or lackadaisical, and you dont keep your eye on the ball, and boom! His parents are doctors. Michael Episcope: On a syndicator deal, what they will do is that they dont charge on committed capital, they charge on acquisition fee because for every deal that they do end up finding, theres probably 20 deals that they didnt find that they had to pay their expenses. Prior to joining Origin, Spencer began his career as an Analyst at Blue Vista Capital Management. He is a member of the Atlanta Apartment Association, a Certified Apartment Portfolio Supervisor, and Certified Apartment Manager. Michael Episcope: No, we dont. Michael Episcope: Rod, just to back your other point, we talked about fund advantage, one of the nice things, if you have an individual deal, and it goes bad, you cant borrow from another transaction to ride the ship in that deal, cause chances are you have different investors across. Michael Episcope: Thats a little bit on the equity amount. Theyre truly a trillion dollar funds these days; in the stock market, that is. With his co-founder David Scherer, he created Origin to provide the same caliber of service, terms, and results that were exclusive to only large . Rod Khleif: Oh, gotcha. So Im a big boy, the markets went south, and I can handle losing money. Michael Jordan's net worth is $2.2 billion. Its in a fund, so never mind. He provided superior administrative services for clients custodial accounts and alternative investment portfolios. We have lots of information about Edsel: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is currently a registered Other. Melissa leads a team focused on growing our high-net-worth investor base through various marketing efforts. She was responsible for reporting segregated funds to the CME, managing account holders funds, & overseeing accounts payable for the organization. 6. Michael Episcope: I think its not that we believe in timing the market. Retooled from that sense and that was a great experience. Im glad you asked that too because in this business you learn a lot more from the deals that go wrong and the mistakes. Michael Episcope: Yeah. His primary profession as a comedian has allowed him to amass enormous wealth. Tom joined Origin Investments in early 2011 and is responsible for sourcing multifamily investments across the Western United States. He is an active member of the Real Estate Investment Association as well as the Urban Land Institute. Suyen Fernandez is part of the Investor Relations team at Origin Investments where she is responsible for capital raising and maintaining relationships with Registered Investment Advisors and Institutional clients. There he coordinated, deployed, and measured lead-generating campaigns and promotions that led to YoY growth in core markets. We got this thing for a song. Im Rod Khleif and Im thrilled youre here. legal firm chicago deaths legal firm chicago deaths. She is also a professor at Johns Hopkins University School of Education. Michael is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. Jimmy received his Bachelor of Arts Degree in Business from the University at Buffalo. I mean, with an Excel spreadsheet, you can make any deal look great. Michael is co-CEO of Origin Investments, co-chairs the Investment Committee, and oversees investor relations, marketing and company operations. 27 February 2023 are david buder and lori schulweis still married are david buder and lori schulweis still married I was a multifamily development, wasnt the greatest time, it was in 06. Ken received a Bachelor of Science in Finance and International Business from Indiana University (Bloomington) and a Master of Business Administration with a concentration in Real Estate Finance and Investments from DePaul University. Origin builds, buys, and lends to class A multifamily real estate in tax and . Spencer is responsible for underwriting prospective commercial real estate investments across all of our target markets. Michael Episcope: Yeah. Very interesting. The other thing that I learned is that its a heck of a lot more complex than what people realize. Bill is on the marketing team, where he leads marketing strategy and produces creative assets for marketing campaigns including blog graphics, email templates, landing pages, and other branded materials. (No Ratings Yet) And sometimes, the worst that can happen is that you make a bad decision but have a good outcome. Prior to joining Origin Investments, Dave spent six years at Deutsche Banks global commercial real estate investment and advisory division known as RREEF. But what well do is well forego cash flow in the first two years. Anyway, I just want to explain that to my listeners that may not understand what a broken condo conversion is. Rod Khleif: Sure. Prior to joining Origin Investments, he underwrote and transacted commercial real estate investments at Equity Office Properties. While at Ventas she led the transformation and scaling of FP&A, corporate risk, legal, accounting, treasury, and property management functions. Regina joined the firm in late 2021 as an Accounting Associate. Grace enjoys cooking, singing, painting and traveling. Preston is responsible for underwriting prospective commercial real estate investments across all of our target markets. But it was, I think, at that time when we were 60% leveraged. In bibendum elit libero, at sollicitudin purus placerat ac. It all is influenced by that notion of alignment, and where you sit. Youre hiring us to build your portfolio. She strives to discover the finest solutions to all design problems. Within her 5+ years of real estate paralegal experience, she assisted in maintaining communication with all parties involved within the transaction, contract negotiations, draft closing documents, clear title, prepare leases, complete any municipality and obtain necessary permits. Originally from China, Grace came to the U.S. in 2011 to pursue a Master of Science in Accounting degree, which she received in 2013 from the University of Illinois at Chicago. Were in those markets because in the strategy sense, the first thing we do is look at the macro view of the world and figure out where we want to invest. He loves cheering on the Wisconsin Badgers and is passionate about all things automotive. When I exited that area in 2005, it was really about taking the next stage, which is how do I protect and preserve, and grow my wealth, and beyond stocks and bonds. Michael brings 25 years of investment and risk management experience to Origin. Michael Episcope: Well, thank you for having me on the show. It certainly will turn around at some point, and I believe that you buy good real estate, you add value to it, you appropriately capitalize it and youll have some dry powder on the side. Michael Episcope: Yeah. Being a graphic designer isnt just a job for her; its a vocation. Since its start in 2007, the firm has executed $1 billion in real estate transactions and has more. I dont really think about this, right? Click the play button above to listen to our conversation. Spencer received a Bachelor of Science in Business majoring in Finance and Real Estate from Indiana University. And so you have even[overlap talk]. He has more than 30 years of experience in real estate investing, finance and asset management. He paved the parking lot. He received a Bachelor of Business Administration with a major in Real Estate and Urban Land Economics from the University of Wisconsin, Madison. a private equity real estate firm serving nearly 3,000 high-net-worth individuals. Michael Episcope: Potentially, yeah, if it were an individual asset thats not the strategy. As a fund manager, we look at it more as a portfolio. Prior to joining Origin Investments, Tommy worked as a Private Capital Manager at Metropolitan Capital where he was responsible for managing existing client relationships and underwriting new credit facilities within the organizations commercial banking team. Michael Episcope: While in a fund structure, if you have one deal that needs capital and the other deal is doing very well and spewing off cash flow, all of that cash flow rolls up to the fund. The Michael Kors Holding Company made headlines in 2018 when it announced . Michael Episcope: Yeah, this idea that you actually think that you know what youre doing In the long run, the law of large numbers will prevail, and youre gonna lose money. They had never been touched since the early 80s. Rod Khleif: Yeah. Click the play button below to listen to my conversation with Michael. Aenean nec cursus diam, eget consequat mauris. Welcome to the show, buddy. A no big deal apartment building, but the individual who were investing with, he didnt have a tremendous amount of experience. Regina received her Bachelors in Accounting from the University of Illinois at Chicago. In her free time, Tijana enjoys to workout, read books, and spent time with her family and friends. Understanding capital commitment fees Originally from Wisconsin, he is an avid Green Bay Packers and Wisconsin Badgers fan. Although I will say that going into fund for, one, a thing we always do is from for each fund, were sort of iterating. We found Michael Sims from North Hills California. It feels like yesterday that See, its very different. Ken began his career in commercial lending as a credit analyst for MB Financial Bank in Chicago. No. In 2007, Michael Episcope co-founded Origin Investments, a top-decile fund manager that helps high-net-worth investors, family offices and clients of registered investment advisors grow and preserve wealth by providing best-in-class real estate solutions. Horacio spoke with Michael Episcope, the co-CEO at Origin Investments. Whether you're a first-time or seasoned investor, you've probably heard your peers discuss some of the great deals they've made by investing in distressed real The investments been going very well on that side. We bought an asset in Naperville, Illinois. And even more importantly to that, the debt has to match the business plan of the asset and making sure If were buying an office building, theres a risk that one of the larger tenants may vacate over the next two years, then our debt today has to be matched to the potential exit of that tenant. Rod Khleif: Its a fantastic book about an effective decision making process. His investment philosophy is rooted in risk management and value creation, and he's been an active real estate investor for more than 15 years. Origin is not only when youre sitting there and youre a principal, and you have so much of your money invested. In her free time, she enjoys spending time with her family, traveling, and trying new restaurants. Michael Episcope: I think thats where a lot of people make the mistake, its looking at, and comparing returns to one another. Rod Khleif: Awesome. Chris lives in the 12South neighborhood of Nashville and is involved with citys Young Leaders Council. She. Kyle is responsible for sourcing, structuring, and execution of new acquisitions across Nashville and Central Florida. A year later, we started our first fund, if you will, and all of those investors came onto that fund [overlap talk]. I love it. We started out in a much different position as most managers, where we were investing our own capital. .. - Michael Episcope "Our mission from day one was to help high net-worth investors, grow their wealth, generate tax-efficient passive income, and just bringing that institutional product to people like us, people who deserved a better way to invest." - Michael Episcope - They then brought on friends and family and then continued to grow its investor base. Fund will charge committed capital fees. They had a matrix. And then within those submarkets, we focus more on the high-income demographic areas. I think that the risk is exponential when you start managing other peoples money. She is a globally-known Christian singer, songwriter, actor, author, orator, and talk show host. You look at it today, and its worth two to three times more than what they sold it for. . Michael Episcope: Yeah, management of cash flow. At Northwestern, Tommy played on the baseball team and was a member of the Leadership Council Institute. If you can build value and continue to build cash flow in the asset, we leverage two to one to equity. Michael is co-CEO of Origin Investments, co-chairs the Investment Committee, and oversees investor relations, marketing and company operations. He and his wife reside in Northern Illinois with their three children, spending time watching their kids sports and walking the familys Chesapeake Bay Retriever. Before joining Origin, he was the Digital Marketing Manager at Evolve Healthcare Marketing, which partnered with the nations leading private equity-backed healthcare businesses. In this week's episode, hear how The-Dream started working with some of the biggest artists in music, decided to go independent as a musician, and jumped into the fashion world by enrolling in the. He has closed over $2.3 billion of transactions and has raised or invested principal funds of over 56 million and averaging a gross IRR of 30%. Prior to Origin Investments, he completed the Risk Management Leadership Program at GE Capital. Everybodys gonna look great in an interview, and this and that. Episode Highlights Trends High Net Worth investors should consider as they begin to allocate more funds to alternative investments. Grant Cardone Controls Over 4,000 Apartments Worth Over a Half a Billion Dollars. The decisions you make around the investments, you select the team you select and put around you as well. Prior to Evolve, he was the Marketing Specialist at Cappex.com, which connects high school students to colleges and universities. What is the proper cap rate? He currently resides in the Lincoln Park neighborhood of Chicago and enjoys traveling, cooking, and spending time with family & friends. We just dont believe that so as weve seen this rent gap between urban and suburban just widen, one of our thesis is that we wanna be in suburban multifamily, so when this swings, and these Millennials start moving out there that we can position ourselves for that. It also had a broken condo structure, and what was interesting about that is that the previous owner, because he was embarking on a condo structure, he actually upgraded all of, what well call, the non-revenue generating components of the property. And once youve made a commitment to the fund, what happens then is that as we buy assets, we call capital. Right? Why the particular asset classes that you focused on. It has a ton. He and his partner started the company to invest their own capital into real estate. Appreciate you having me on today. Is that correct? But when we refinance, we will return a large portion of the capital for that investment. Michael Episcope: Thanks, Rod. If you got a homerun deal And so you actually limited their investments so you could have more people in it, have more people that experience s fantastic return on that particular deal, because Ill tell you guys, once you make someone some money, youve got them. Its the decision making that matters. Aaron is responsible for driving performance in the companys multifamily portfolio. When I transitioned out of commodities trading in 05, I went back and I went and got a Masters in real estate at DePaul University as well. Michael Episcope: Trading, and other backgrounds as well. Victoria graduated from St. Olaf College where she received a Bachelor of Arts in Economics with an emphasis in Finance. Michael Episcope unpacks opportunity zone investing misconceptions and explores the potential benefits of adding alternative assets to a portfolio. Her net worth is an estimated $500,000, according to ScreenRant. Developers have enjoyed years of consistent, reliable rental rate growth, with the average rent growing 13.5% in 2021 and another 6.2% last year, according to Yardi Matrix. My experience in real estate actually extends back to kinda when I was 11, 12, 13, working for my grandfather in the summers. The markets been great for the last couple of years. How to build good will for future deals, Book Recommendation: Principles by Ray Dalio, To learn more about our guest, click here, Join us at a Multifamily Bootcamp, visit MultifamilyBootcamp.com, Ep #225 Michael Episcope 1 Billion in Real Estate Transactions. But one in particular that comes to mind is, I got pulled into a deal by a friend of mine, it was in Austin, Texas. And so the very first deal we took out to a group. Before Link, he worked as an Analyst on the Capital Markets Research team at JLL. He has over 17 years of experience in real estate investing, finance, development and asset management. He was able to leverage data mining and machine learning techniques to build statistical models for internal use. Here's a quick recap of the top 30 richest athletes in the world in 2022: Michael Jordan; Vince McMahon; Ion . The importance of risk management Michael Episcope worked as a commodities trader for 15 years while investing passively before deciding to take things a step further and earn a master's degree in real estate. Rod Khleif: Sure. Prior to joining Origin, Barbara was the managing editor of HOTELS, a Chicago-based publication covering the global hotel business. Ill tell you though, I wouldnt trade it for anything, even though I made a ton of mistakes, and I learned a ton, but it has really helped shape me as an investor and what I am today, and why I do what I do. +1-941-225-8477. Can you just give some strategy to my listeners? At Morningstar, Melissa set the marketing communications strategy to drive demand for an extensive line of products for financial advisors, including software, events and investment management services. Rod Khleif: Thats the key Michael, youve added tremendous value today. Isabela is an assistant vice president in the Investor Relations department who is responsible for ensuring that our current investors are up to date with their investments and educating our future partners about Origins offerings. At the age of 19 years old I got a summer job down at the Chicago Mercantile Exchange and that was between my freshman and sophomore year of college at DePaul. Michael Episcope: That was a lesson. Michael Episcope: Some of the thing we do is were positioning ourselves in really high quality assets. - Michael Episcope "Our mission from day one was to help high net-worth investors, grow their wealth, generate tax-efficient passive income, and just bringing that institutional product to people like us, people who deserved a better way to invest." Isabela was formerly a Senior Financial Analyst with Pritzker Realty Group where she was responsible for providing underwriting support and market research in relation to PRG's acquisition, disposition, financing and asset management activities. We both had a lot of good friends; high net worth. He enjoys keeping up with the local music scene and cheering on Minnesota sports. Michael Jordan is still, quite possibly,. At Centro, Geoff focused on personalizing the companys messaging strategies and expediting adoption of their proprietary software a comprehensive solution for both brands and agencies. 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Free time, he is a globally-known Christian singer, songwriter,,. Five or six years at Deutsche Banks global commercial real estate investment Association well! Finance and management from Florida International University what people realize, daughter, and where sit. My listeners that may not understand what a broken condo conversion is investors should consider as they begin to more. Brings 25 years of experience in both B2B and B2C marketing submarkets, will... $ 380 million loan from Bank of had never been touched since early... Give you a couple of years buys, and traveling in timing the market michael, youve added tremendous today! Asset management of Education it today, and spending time with her husband, daughter, dog., co-chairs the investment Committee, and I will tell you, rod that is as! Atlanta Apartment Association, a Certified Apartment Manager get what we think a estate... 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For a privately financed hedge fund internal use Studies from Pomona College in Claremont, California what happens then that... Positioning ourselves in really high quality assets classes that you focused on estate funds B2B!: Relationship: Kids: Edit this Information mining and machine learning techniques build.