Invest Florida - A Real Estate Podcast

Today we discuss 1031 exchanges with Michael Brady, and the Biden Administration's proposal to possibly eliminate them, as well as the potential impact this will have (and is having) on real estate. As an overview, a 1031 exchange allows you to sell one investment or business property and buy another without incurring capital gains taxes. It also has a multiplier affect in that 1031 exchanges help to generate revenue, jobs, and economic development. So why is the current White House administration proposing to possibly eliminate 1031 exchanges when cutting it would barely put a dent in the deficit? Is this really a good idea?   Key Discussion Points [01:06] Opening remarks by Eric Odum & Steven Silverman [03:32] About our guest: Michael Brady [05:14] What is a 1031 Exchange and why is it important? [07:09[ How have 1031 Exchanges and captial gains changed over the last 30 years? [10:19] Discuss the thinking of Congress to cut 1031 Exchanges to help lower the defiicit [12:52] If 1031 Exchanges get cut, how

On today's podcast we talk about the importance of due diligence on both the buyer and tenant side with Natalia Ouellette, founding partner at LCO Law LLC. Natalie offers a wealth of information as we cover numerous aspects of due diligence, from engineering and structural aspects to making sure the survey and title is accurate, and we spend a good deal of time covering some common lease terms that may trip up a buyer.   Key Discussion Points [01:10] Opening remarks by Eric Odum [04:30] About our guest: Natalia Ouellette [07:19] How did you get started in real estate? [11:40] Discussion about due diligence on the buyer and tenant side [19:47] Discussion about due diligence of acquisitions of investment properties [34:06] Talk about Joint and Several Liability (new buyer has to pay past dues of previous owner - ie HOA fees) [43:22] What are some terms when signing a lease that are common but could trip up a buyer? [56:12] How can folks contact you? [1:00:00] Closing comments by Eric     About Our Guest Natal

Today we talk with Ben Pleat, CEO and founder of Cobu, which is a fully moderated community software app that helps build sense of community among residents of large apartment complexes while also helping to increase resident satisfaction and thus increase retention and renewals.    Living in apartment buildings can be an isolating experience. The way Cobu helps to build community is by connecting residents based on shared affinities -- for example, a mom's group, parent group, foodie group, dog group, etc, and it enables residents to create community in a way that doesn't require additional time or budget from the property team. 

On this week's podcast we talk with Alan Fruitman about single tenant triple net (NNN) leased properties. A NNN lease helps minimize the responsibilities for the investor since the tenant agrees to pay all the expenses of the property including the real estate taxes, building insurance, and maintenance.   A very interesting discussion that emerged from this episode is the current administration's proposal to cut 1031 exchanges, which would be a tremendous blow to real estate. If Capitol Hill eliminates the 1031 Exchange, this will have a dramatic and negative affect on real estate as this would decrease proceeds by almost 50%. As a consequence, Alan predicts a heavy volume of real estate transactions in Q3 and Q4 as investors are trying to get their sale and 1031 exchange in before the end of 2021.   Key Discussion Points [01:04] Opening remarks by Eric Odum and Steven Silverman  [04:55] About our guest: Alan Fruitman [06:00] How did you get started in the single tenant world? [07:23] What is Triple Net and

Eric Odum tells the real life ongoing story about a borrower and a private lender, and the importance of ensuring that when a loan is paid off, that the mortgage satisfaction has actually been recorded. In this case, the borrower wanted to sell his property. However, although the borrower had paid off the mortgage to a private lender 16 years ago, and the lender supplied a satisfaction of mortgage to the borrower, it was never filed. The borrower did find the mortgage satisfaction document, but the title company said it was not sufficient satisfaction and they would need to issue a new document, and to make matters worse, the lender did not remember the transaction.

During this COVID19 epidemic, mobile home parks have outperformed other real estate asset classes. Today we talk with Eloy Retana about the Mobile Home Park Market in Florida and how he considers them a safer asset for investment as we enter a period of economic uncertainty.   Eloy and his partner have done quite well in this market as housing affordability has become more of a problem. Since it is more difficult for a mobile home tenant to move, Eloy enjoys the stability and longevity of the tenants. Up until recently, investors in the mobile home park market have been seeing 15%-20% cash on cash returns with the potential to double their money within 5 years. Although lately it's been more difficult to reach those returns with the increased competition and rising prices. However, great returns and cash flow are still there for savvy investors.     Key Discussion Points [01:03] Opening remarks by Eric Odum and Steven Silverman  [07:42] About our guest: Eloy Retana [08:41] How did you get into the real estate

While many Florida investors focus on multifamily investments, Alicia Jarrett and her team are focused on land investments - and they are doing quite well. And did we mention Alicia is based in Australia?    Alicia discovered that the turn-around time with land is actually quicker (just a few days) than any other physical asset like multifamily or single family. Surprisingly, there are a lot of people that own land that don't want it, so there are a lot of Florida land investment opportunities out there. Alicia uses a systematic approach combined with technology to help her and her team find, manage, and sell these land investment opportunities - and she can help you as well.

It's no secret that the Florida real estate market is red hot. But how long can it last? And how will the $1.9T stimulus affect the market over the next 6 months - 2 years? Today we are joined by San Eng, CEO of Skytian Capital, who gives us his perspective on the central Florida multifamily market, with a focus on B and C class properties.    San Eng is a Wall Street Journal & USA Today best-selling author of "The Ten Commandments of Investing", which is a collection of guiding principles from the greatest investors in history.

Over the last year there have been a lot of changes in the Florida debt market due to the COVID pandemic, and the distress in the market is having a real affect. Today we talk with Casey Siggins who gives an overview of the various asset classes and what the debt market is doing in each of these.    Key Discussion Points [01:10] Opening remarks by Eric Odum and Steven Silverman  [04:42] About our guest: Casey Siggins  [06:27] Give us a high level view of the markets right now and the underwriting situation [10:58] Give us an overview of the distress in the market right now (retail, hospitality, multifamily, industrial, office) [18:29] Overview of the larger lendors and how they've changed over the last year [22:28] Quick discussion of non-recourse loans [23:14] What is going on in the equity markets? [25:23] Give us an overview of some of the niche markets [28:06] Are there any areas in Florida or asset classes where lenders are hesitant or won't touch [30:43] Tell us about how your firm, Franklin Street Cap

Today we get an update on Florida multifamily construction from our guest, Jeff Rosenfeld, Executive Vice President of Adivo Construction. Florida has had a lot of disruption in the last couple years with things such as tariffs and COVID. Recently, Florida has seen a mass influx of new residents looking for multifamily housing, but there is currently a shortage of skilled construction labor. We talk about how this is affecting multifamily construction costs and discuss how some investors are re-purposing various assets such as hostels and commercial loft space into multifamily housing (commonly called adaptive reuse).   Key Discussion Points [01:07] Opening remarks by Eric Odum and Steven Silverman  [06:08] About our guest: Jeff Rosenfeld [06:59] Give us an overview of Florida Multifamily market [10:15] What's been going on with multifamily construction costs in the last few years and since COVID? [11:53] What's the outlook on multifamily construction costs? [13:26] With COVID as a disruptor, tell us about ad

Today we talk with Charles Carillo, founder and managing partner of Harborside Partners Inc., about all things multifamily. This episode is packed with great information that both new and seasoned real estate investors will appreciate such as pitfalls to avoid when investing, advice for new multifamily investors, cap rates, and what the future holds for multifamily real estate. You won't want to miss this episode! Key Discussion Points [01:04] Opening remarks by Eric Odum and Steven Silverman [03:51] About our guest: Charles Carillo [04:22] Give us an overview of how and why you got into multifamily [06:43] What are you seeing in Florida (such as cap rates) that might be affecting the market now and going foward? [09:32] What cap rates are you seeing that people are willing to pay? [13:38] What are some pitfals to avoid and advice for new multifamily investors? [17:31] How do you manage your maintenance issues at your properties? [26:48] For those thinking about investing in real estate, how can you help eac

Today we talk with Jason Schaller, founder of the Schaller Group in Winter Park FL, about multifamily syndication in the central Florida market. Jason spent a lifetime learning construction, redevelopment, due diligence, inspection, marketing, and branding, and he has now put all that knowledge to work with his own company, The Schaller Group, which syndicates multifamily investments and provides outside consulting and advisory services for owners and investors nationally.   Key Discussion Points [01:03] Opening remarks by Eric Odum and Steven Silverman[05:24] About our guest: Jason Schaller[11:44] For your syndications, are you looking specifically in the Winter Park Orlando market or are you looking anywhere?[12:44] With multifamily being a tight market, how are you finding your deals?[14:07] Are you still doing consulting on refits and remodels...people wanting to purchase?[14:41] Do you do any ground-up development?[15:43] Is it even possible to build Workforce Housing in this market?[18:02] What does you

Even before the COVID crisis, Florida had a strong natural growth which as driven up real estate prices. Now during COVID, that growth is intensifying as people are fleeing intensely populated metropolitan areas from other states and flocking to Florida. Financing is therefore, playing a more and more important role, and with current rates so low, we can expect a lot of new construction to fill the demand. Today we talk with Andrew LaSalla II, Principal with LSG Lending Advisors, about the process for someone to move forward on a multifamily construction deal, specifically the HUD 221(d)(4) new construction & substantial rehabilitation loan for multifamily properties. Key Discussion Points [01:05] Opening remarks by Eric Odum and Steven Silverman [05:00] About our guest: Andrew LaSalla II [05:54] Give us an overview of what's going on in the agency market right now [07:21] What is the criteria to do one of these loans? [08:38] What does the structure of the HUD 221 (d)(4) loan look like? [09:36] What is

Today we talk with David Drewett, owner of Property Hero. David provides a great service to Sarasota, FL by providing affordable housing in a market that's not affordable. He does this by investing in distressed multifamily properties, fixing them up and adding rooms in the living spaces, and then he rents out the rooms. The tenants share the kitchen and bathroom, and they also do the cleaning and light maintenance. It's a win-win since the community is happy to see buildings getting painted and fixed up while helping people get affordable housing, and it's a great business for David.     Key Discussion Points [01:05] Opening remarks by Eric Odum and Steven Silverman [05:49] About our guest: David Drewett [06:58] How did you get started in real estate investing? [08:27] Why did you choose Sarasota to start your real estate business? [11:29] At what point did you get into multifamily [12:38] What type of multifamily properties are you targeting for investments? [16:12] What is your ideal tenant for the rooms y

Today we talk with Lauren A. Cohen, founder of eCouncilInc.com.  Lauren is both an attorney and a realtor, and she uses this background to help foreign nationals find and secure U.S. real estate investment opportunities as well as obtain visas. For those foreign nationals looking to use real estate as a vehicle for obtaining a visa in the U.S., there is a way to do it, but you have to do it in the right way and use qualified professionals to help you. Lauren and her team can assist with all aspects of U.S. real estate investments and securing visas.   Key Discussion Points [01:04] Opening remarks by Eric Odum and Steven Silverman [05:53] About our guest: Lauren A. Cohen [06:41] How did you get involved in real estate as an attorney and realtor? [09:09] How can someone become a legal U.S. resident by investing in real estate? [13:55] Which real estate scenarios are you seeing foreign investors best qualify for an E2 visa [20:53] Discuss the implications of foreign investors purchasing U.S. real estate [25:12] 

Most everyone has a profile on LinkedIn, but few understand the power that it has to find investors and raise money. Engagement on LinkedIn is at an all-time high, with the average household income above six-figures.    Today we talk with Yakov Smart, the leading expert when it comes to attracting high net worth investors and raising capital through LinkedIn. Yakov discusses how to create lists to find investors, how to approach investors once you've found them, and how to optimize their LinkedIn profile to build credibility.    Key Discussion Points [01:04] Opening remarks by Eric Odum and Steven Silverman [03:34] About our guest: Yakov Smart [05:02] How did you get into using LinkedIn to help find investors? [07:17] How do you convince people that LinkedIn can help find investors? [16:09] Whare are some specific ways to create lists on LinkedIn, and how does the LinkedIn Sales Navigator fit with this? [19:53] What are some mistakes people make on LinkedIn when trying to target high profile investors? [24:08

Today we talk with Ana Bozovic, founder of Analytics Miami, about her outlook on the Florida market using her analytical, unbiased, and data-driven approach. The focus for this episode is mainly on the residential market, from condos to single family homes - and we even discuss if climate change & sea level rise is having an affect on the single family home market in Miami Beach and other areas. An interesting take-away is that COVID-19 has accelerated trends that were already in place. Ana's overall conclusion is that Florida will continue to grow and flourish as people continue to come to Florida to live.     Key Discussion Points [01:05] Opening remarks by Eric Odum and Steven Silverman [04:09] About our guest: Ana Bozovic [05:14] How did you end up in Miami, and how did you got started in your Analytics business? [08:48] What do you see happening in the condo market? [14:15] How is the transaction volume doing in the more affordable housing market? [18:02] Is Climate Change / sea level rise having an

Today we talk with Landrum Randolph about property management and the software he created, called RAAMP, to help with property management. Leases can be complex, and property management can be complex because leases are always different. What's interesting about RAAMP is that it's built around the lease, and from that everything else is driven - the accounting, the financial reports, document management, etc... Both Eric Odum and Steven Silverman use RAAMP for their property management needs.   Key Discussion Points [00:58] Opening remarks by Eric Odum and Steven Silverman [05:51] About our guest: Landrum Randoph [06:31] Tell us about the RAAMP property management software you developed, and how you got into the property management business [08:22] Did you competitors play a role in this niche you tried to fit into? [09:50] Can your software, RAAMP, deal with types of property that other competitors struggle with? [10:27] Are there any asset classes that might not be a good fit for RAMMP? [11:30] What type of

Finding real estate leads and deals is one of the hardest things for investors, especially new investors just starting out. Some people respond to email, some to Google ads, and some to Facebook - there's no silver bullet.   Today, we talk with Gus Munoz Castro from PowerISA about his leads-generation service his company provides that can help you find the right deals. Gus also discusses the benefits of Facebook leads and walks us through his process which focuses on the conversion of Facebook ads and other internet methods to help you get the leads you've been looking for.    Key Discussion Points [01:02] Opening remarks by Eric Odum and Steven Silverman [03:57] About our guest: Gus Munoz Castro [04:40] How did you end up going from Microsoft engineer to real estate agent? [10:39] Tell us a about how your system & process works utilizing internet leads and telephone [12:20] So you do the follow-up off the inbound leads from the FB ads - tell us about that [13:02] What's the process for you to get the  FB

If you are interested in turning your investment property into a successful short-term vacation rental, then this episode is for you. Today we hear from J-Ryan Steward & Jared Higginbotham of Teal Door Hosting about about the short-term rental market as well as how they can work with you using their full scale management service. Note that this episode is a recording of a recent Meetup attended by our podcast host, Eric Odum.   Short term rental is a relatively new market segment within the last 10 years or so. During this current market saturation reset, J-Ryan and Jarrod expect the next 2-3 years to have really good high profits for short-term rentals.     Key Discussion Points [00:59] Opening remarks by Eric Odum [03:52] About our guests: J-Ryan Stewart & Jared Higginbotham [04:57] Tell us about your Full Scale Managmement service to turn investement properties into successful short terms rentals [08:05] Discussion about Good and Bad Business Models for short term rentals [14:54] Do you help with t