Rod Khleif: The lesson was, you looked at the asset and the asset looked great. Born and raised in Chicago, Ken enjoys traveling, cooking, and cheering on the Cubs, Bears, and Indiana Hoosiers. My experience in real estate actually extends back to kinda when I was 11, 12, 13, working for my grandfather in the summers. Taking the leap into entrepreneurship, Taylor started a company that provided replacement cars to people who had suffered stolen or damaged vehicles. Ill take you back a little bit farther maybe than you wanna go Born and raised in the Chicago area. Gina serves as an Investor Relations Support Specialist. Click the play button below to listen to my conversation with Michael. Beautiful B-plus asset, early 80s vintage, owned by the same individual who built it, his children managed the property, which thats something thats unique and they [overlap talk], Rod Khleif: Okay. Let me ask you this, you obviously have incredible success, is there a dark time in this real estate journey that youd be willing to share with people? They then brought on friends and family and then continued to grow its investor base. Michael Episcope: In Chicago, yeah It really afforded him a lifestyle It was nice. As it stands today, we are buy-fix-sell, so typically the average hold-period is probably three and a half years. Prior to joining Origin Investments in 2017, Chris served in various roles with NorthMarq Capitals loan production and loan servicing offices located in Chicago and Minneapolis. We have a real powerhouse on the show today. Investors who are locked into real estate assets are spared from the temptation of panic selling that ruins so many stock portfolios. Rod Khleif: Awesome. Prior to joining Origin full-time, Ryan was a Data Scientist intern. She lives in the Gold Coast neighborhood of Chicago and in her spare time enjoys cooking, Pilates, and teaching youth dance classes. Michelle is a gamer and enjoys spending her free time playing online video games. 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. In her roles, Gina specialized in Front Office operations where she was responsible for managing guest feedback and supporting the team to deliver personalized service from arrival to departure. 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. He brings with him over 7+ years of digital marketing experience in both B2B and B2C marketing. On-going then its 1.5% on the fund on an annual basis. Ryan serves as a Data Scientist here at Origin Investments. Kevin is responsible for driving performance of the companys multifamily development projects & partners. Ep #183 Grant Cardone Controls Over 4,000 Apartments Worth Over a Half a Billion Dollars. With Michael's leadership, Origin has $1 billion in equity under management and has executed more than $2.6 billion in real estate transactions in fast-growing markets throughout the U.S. Michael Episcope: Yeah. . Wedge Brands, an outdoor industry holdings company, got $1M from a group . He currently resides in the Lincoln Park neighborhood of Chicago and enjoys traveling, cooking, and spending time with family & friends. He enjoys spending time with family, trying to keep up with the ever-changing restaurant scene, travel, golf, fly fishing, an occasional bird hunt and Iowa Hawkeyes athletics. Providing guidance with clear understanding of where they stand everyday. But we have adopted an institutional fee structure. Talk to you soon. I agree. But what well do is well forego cash flow in the first two years. I went to school in Chicago. There he coordinated, deployed, and measured lead-generating campaigns and promotions that led to YoY growth in core markets. She also likes to watch Netflix and going out to eat sushi. After graduating from UIC, Grace worked as a staff accountant at the food industry consulting firm Technomic, Inc. (now part of Winsight), in downtown Chicago. Were very good at managing our contingent liabilities, looking at risk in individual asset level than the portfolio level as well. Garrett received a Bachelor of Arts with a major in Economics from Indiana University. Prior to joining PRG, she served as Financial Analyst for DBRS, a credit rating agency for commercial mortgage-backed securities, from 2015-2017. We need to know that theres robust job market growth in there. Tom currently resides in Denver with his wife and children, is a cyclist, skier and loves to travel. Michael serves as Origin Investments in-house general counsel. Michael is principal of Origin Investments, in which he co-chairs the Investment Committee and oversees investor relations, marketing, and company operations.He brings 25 years of investment and . Kate joined Origin in 2021 after a tenure at Ventas, a S&P 500 company and a leading healthcare REIT. Education + Add. Rod Khleif: Those that dont know what hes talking about here, back when things were going fast and loose in 05, 06, 07, a lot of apartment owners were condo-mizing those apartment complexes and selling them off one at a time. Prior to joining Origin Investments, Michael was the Vice President and Senior Associate General Counsel at General Growth Properties, a $3 billion publicly-traded REIT. Prior to Centro, Geoff spent over a decade in marketing for higher education institutions, non-profits, and startups. The other thing that I learned is that its a heck of a lot more complex than what people realize. He primarily oversees investor relations, marketing, and company operations. Everybodys gonna look great in an interview, and this and that. Edelisa Episcope. She is instrumental in executing marketing campaigns to drive new investors for our private real estate funds. Aaron is responsible for driving performance in the companys multifamily portfolio. They will be clamoring to give you money, and to tell all their friends to give you money. Cause this is, its a little new to me. And so you have even[overlap talk]. At Stony Point, Kevin grew to lead the day-to-day management of the firm and was responsible for the entire life cycle of the firms investments & developments. "We believe that investors deserve the most talented and disciplined team to actively manage their real estate investing portfolio. In whatever I do, even in my personal life, I only invest in with fund structures because maybe I know a little bit too much about that but if I was looking at individual deals, I would have no clue about how to ascertain one from the other cause its not what I do full-time in any business. Michael Episcope: That was a lesson. This was fantastic. And also, once weve improved the asset and grown the top-line revenues, then we may hold it for a couple or more years to generate the cash flow, and increase the multiple on equity. She was responsible for leading the graphics department with a team of 7, creating all marketing collaterals and unique packaging designs for products including sparkling wine, gin, rum, cognac, and tequila. 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. Michael Episcope: Thats a little bit on the equity amount. (No Ratings Yet) In 2020, Schmidt penned the book - "Inside the Struggle to Stop a President.". He provided superior administrative services for clients custodial accounts and alternative investment portfolios. 228 Michael Episcope, Principal & Co-Founder, Origin Investments This is actually my second career. . Phil received a Bachelor of Science with a major in Finance from the Wharton School of Business at the University of Pennsylvania. I think that the risk is exponential when you start managing other peoples money. Michael Episcope: You know where the value [overlap talk]. But were excited about the asset so were actually putting that under longer term financing. I think theres a misnomer that funds are more expensive than individual deals, and thats just not true. Before joining Origin Investments in 2015, Marc served as Vice President of Asset Strategy at Lightstone, a New York investment firm with $2 billion of assets under management. Justin joined Origin in October of 2022 as an Investor Relations Generalist. Michael Episcope: Its a capital commitment fee. So even if youre reinvesting that capital, youre only reinvesting 75% of that profit rather than 100%. Youre pretty much locked in to that structure. If we make $100,000 commitment to fund, we dont take it all upfront because we dont have a portfolio of assets. I dont really think about this, right? . Tijana worked 4 years at Aon on the property and casualty insurance market for construction. He is the co-CEO of Origin Investments, a private equity real estate firm that serves close to 3,000 high net worth individuals. Preston is responsible for underwriting prospective commercial real estate investments across all of our target markets. Theyre fairly sophisticated but Id like you to break down why you like a fund versus individual syndications for specific properties. Rod Khleif: Right. She helps her husband . Dan joined the team at Origin in 2022 as an Investor Relations Support Specialist. Join Origin Principal Michael Episcope and Dr. James M. Dahle, M.D., editor, author, and owner of White Coat Investor, on May 20th at. He is a runner, frequent traveler, amateur tennis player, and beach/pool enthusiast. Prior to joining the Origin team, Phil began his career as a development associate for General Growth Properties. Its in a fund, so never mind. So many, I would say 50% of them, we were able to buy back in the first three months and people were so thankful to us even to come there to provide them with an exit strategy. I mean, with an Excel spreadsheet, you can make any deal look great. One of his breakout roles came in 1982 when he began portraying Alex P. Keaton on Family Ties. Michael Episcope says he found himself with over 20 hours a week of free time as a result of Chicago's shelter-in-place order, issued on March 20. . Rod Khleif: Sure. Jennifer is a huge Disney enthusiast. The additional shot of funds from these investors helped complete deals that otherwise may not have happened, Landes added. Since 2003, Dave has been involved with the sourcing, closing and execution of more than $1.9 billion of commercial real estate acquisitions, dispositions and development projects. Anthony was born to Michael Volpe and Isabella Volpe on April 28, 2001. Michael Episcope is Co-CEO of Origin Investments in Chicago founded in 2007. My first career was in commodities trading. Other names that Edsel uses includes Edsel M Episcope, Edsel Michael Episcope and Edsel A Episcope. Now, there are funds out there that charge both a committed fee and acquisition fee. And once youve made a commitment to the fund, what happens then is that as we buy assets, we call capital. Their drama-fueled relationship eventually ended up in divorce, but the Brazilian reality star's professional life took off. He previously worked at Mark Anthony Brewing where he was responsible for leading the accounts payable process for over 50 vendors relating to co-packers, raw materials and packaging for Mikes Hard and White Claw. Why real estate? But when we refinance, we will return a large portion of the capital for that investment. But because its in fund to, we have a specifically designed strategy where we are going to sell this asset but well probably hold it, six-years versus our five-year business plan because its going well. 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. Priya is the controller of Origin Investments and joined the team in June 2009. We bought an asset in Naperville, Illinois. You dont hold properties for legacy or long-term cash flow. Prior to Origin Investments, he completed the Risk Management Leadership Program at GE Capital. Well have that for probably another four years. 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. He currently resides in the Knox Henderson neighborhood of Dallas and is originally from Ohio. He was twice named a top 100 trader by trader monthly magazine. +1-941-225-8477. 242 S. Washington Blvd Suite 319Sarasota, FL 34236. The ones that didnt go so well, I learned quite a bit. Operationally, weve increased revenues about 50%. He enjoys traveling with his family, snowboarding, and frequents ski resorts all over North America. He is co-CEO, co-chairs the investment committee and oversees investor relations and capital raising. Edsel's net worth hovers over $100,000 - $249,999 with a yearly income that's . Youre coming in at 33%. 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