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CREI Partners
CREI Partners episodes
- Ep #21: Maximizing Capital Raising and Brand Awareness with Ruben Greth
In this episode, Wayne talks to Ruben Greth, who has a popular podcast about raising money for multifamily syndications based on what he learns from the best multifamily syndicators in the country.
Recently, Ruben raised $1 million through cosponsors for multifamily projects in Arizona. He started out doing social media videos for a local apartment investor in Phoenix and successfully raised $625,000 for deals during the post-crash buying frenzy.
Topics on Today’s Episode:
- Ruben’s Real Estate Journey: From mortgages to the power of multifamily investments
- Capital Raising: Facilitate process for raisers, sponsors, syndicators by starting own fund
- Services in Demand: Master the finding and acquiring of capital to add value
- Ways to Raise Capital: Partner with right people with good track record and experience
- Multifamily Investment Benefits: Passive income, generational wealth, and tax benefits
- Brand Yourself: Be go-to multifamily person, automate communication to build trust
- Consistency with Touchpoints: Email marketing approach that adds value is successful
- Original Base: Once friends and family max out, before investing more, convert others
- Best Marketing System: Use several tools, not just one for people to know, like, trust you
- Selling vs. Offering: There’s other ways to provide opportunities and diversify portfolio
- Brand Awareness: Not what brand says to audience, but what people say about brand
- Assumption: Other people want the same things they want - people have different needs
- People, Success, Money: Use strengths to share information by doing certain things
- Lessons Learned: Focus on one thing - raising capital - to get real estate investor label
40 min - Ep #20: Outwork the Competition in Real Estate with James Ray
Do you want to or know how to outwork the competition in real estate? Get back to basics with a boot camp style, open enrollment training program called, CRE Analyst FastTrack. It strives to give professionals the best industry training at a fraction of the cost of traditional education methods.
In this episode, Wayne talks to James Ray, who co-teaches the FastTrack program and oversees regional commercial real estate acquisitions, developments, and joint ventures for an institutional investment manager. James spends much of his free time teaching the fundamentals and tools used by experienced real estate investors to succeed.
Topics on Today’s Episode:
- James’ Job: Find value and understand entire commercial real estate market
- Money Threshold: Big institutions don’t like cutting checks less than $15-20 million
- Teach What You Know: Help people learn real estate business in/for less time, money
- Curriculum: Focuses on the eight critical fundamentals of commercial real estate
- Four Transaction Frameworks: Buying/selling, borrowing/lending, partnerships, leases
- Students: Differences between undergraduate, MBA, and professional classes/programs
- Right vs. Wrong Way: Invest in yourself to learn legitimate real estate skills or strikeout
- Strengthen Weaknesses: Most common struggles and setbacks students experience
- FastTrack Results: More than half of students have found a job or were promoted
- Valuation Skills: Most overlooked aspect of real estate investing
- Property Values and Taxes: If you miss the mark on taxes, returns are gone
- James’ Advice: Be own arbiter of fact/opinion, pick a spot/niche, find/be a good partner
46 min - Ep #19: Growing Wealth through Mobile Park Investing with Ryan Narus
In this episode, Wayne talks to Ryan Narus. Ryan Narus is a double graduate of Wake Forest University with an undergraduate degree in Psychology and an MBA with concentrations in Operations and Marketing. He started his real estate career with no money or experience but has grown his real estate portfolio to 17 mobile park homes. His strategy focused on investing with active investors and planning for the long term.
Show Notes
- The difficulties of a deal lead to opportunities for outside thinkers.
- Mobile homes have unexpected problems when trying to get financing.
- Banks care most about your reputation and your debt to coverage ratio.
- You have to partner with someone to act as a recourse holder to start.
- When you think everything is overpriced, your strategy is wrong.
- You can always pay more than the next guy.
- It would help if you only were using other people’s money to scale business.
- When you are active investors, you can pay more to capitalize on the long-term gains.
- Creativity is severely overlooked in real estate.
45 min - Ep #18: Diversify Investments with Multifamily and Storage with Spencer Hilligoss
In this episode, Wayne talks to Spencer Hilligoss. Spencer is an active syndicator, real estate investor, and co-founder of Madison Investing. He started his career building high-performance teams across the technology sector and, in 2021, was a member of the Forbes Real Estate Council. Madison Investing has over 6000 units and over $800M in total acquisitions in multifamily and storage units.
Today's topics include:
- You have to take stock of your reality to find the deals you are looking for.
- You have to honestly know and vet your potential partners before you do a deal with them.
- Storage units are a recession resistance asset class.
- Traffic count and visibility to the road are significant components of a good self storage unit.
- Radius+ website is a great way to compare occupancy of storage units.
- Value can be added to storage units by cleaning up operational inefficiences and renovating the facility.
- Local resources are the best way to get an idea of what other self-storage units are going for in an area.
- Looking at real deals are one of the best ways to educate investors.
- Real Estate forms like Bigger Pockets have great hidden resources.
- When you invest in real estate, you have to take care of your tenants to create long term relationships with them.
40 min - Ep #17: Taking the Red Pill in Real Estate to Achieve True Success with Jerome Myers
Wayne talks to Jerome Myers in this episode, a once corporate America drop out to now running Myers Development Group, LLC. Jerome Myers started his real estate career by fixing and flipping homes until he began investing in multi-family. Jerome spent years defining what he wanted out of life and himself. He now uses his experience to help others find their way to happiness and achieve their dreams.
Topics on today's episode include:
- To succeed, you need to be willing to take the red pill in life and business.
- The Red Pill has six levels: Self Image, Relationship, Work, Health, Prosperity, Significance.
- Active and passive investors need to have the mindset of commitment and belief that it will happen.
- Start your day with something that is going to motivate and help you.
- Create your vision mirror to remind yourself of what you want out of life.
- Myers Method of Real Estate: Find, Fund, Fix, Flip
- Four things every investor is trying to overcome: Knowledge, Deal Flow, Experience, Capital
- What steps need to be taken to see more diversity in real estate?
- Steps required to find quality hard money lenders. The necessary qualifications and steps to find and close on hard money loans.
- Your investments need to make an impact not only in your life but the entire community as well.
43 min - Ep #16: Navigating 2021 Multi-Family Real Estate Investments with Ellie Perlman
In this episode, Wayne talks to Ellie Perlman, Founder and CEO of Blue Lake Capital, an investing firm specializing in multi-family acquisitions and management. Ellie started her career as a commercial real estate lawyer for Israel's largest real estate company. She would eventually transition to a property manager role where she oversaw properties worth over $100MM. Blue Lake Capital has successfully acquired over 2,000 units since its formation in 2017.
Topics on Today’s Episode:
- What characteristics should you consider when looking at location
- How to protect yourself and mitigate risk during COVID-19
- Benefits of Multi-family as an asset class
- Results of Government Involvement on Asset Valuations in 2021
- Taking your wealth to the next level
- Investing with Family Offices
- Most important performance indicator
- Lesson learned to reduce stress
38 min - Ep #15: Creating Wealth Investing in Student Housing Ground Up Development with Zach Feldman
In this episode, Wayne talks to Zach Feldman, Vice President of Development at Aptitude Development—one of the nation’s top student housing firms. Zach spearheads the company’s new development efforts around the country, focusing on sourcing and underwriting new opportunities, as well as pre-development, entitlement, capital markets, and investor relations.
Topics on Today’s Episode:
- Getting started in real estate from the ground up, specifically student/multifamily housing
- Real Estate Success: Principles of having your money work for you
- Family, Friends, Partners: Buy student housing buildings based on highest yield on cost
- ENJOI 77 HOLDINGS: Introduction into student housing world at institutional level
- Aptitude Advantage: Student housing development w/expertise, entitlement, construction
- Off-Market Strategy: Provide best returns to investors and best residences for students
- Secret Sauce: How to find and source student housing land deals to create value
- Development Lifecycle: Start with macros in market and find location that makes sense
- Pain Points: Zoning, variances, and entitlement risk where town isn’t developer-friendly
- Main Macros: Enrollment, rents, concessions, occupancy, endowment, and tuition costs
- COVID Impact: Student housing continues to hold its own, remains recession resilient
- Differences, Decisions: On- or off-campus living depends on lease, location, and design
- Financing Options: Land loans, raising equity, entitlement process, construction phase
- Cost Segregation Analysis: Push depreciation into first few years for large tax benefits
- Limited Partnership: Real estate passion is a lot of work, not a get-rich-quick position
- Due Diligence: Do your homework to know the market and avoid investment mistakes
Links and Resources:
Aptitude Development
Zach Feldman on LinkedIn
Zach Feldman’s Phone: 781-789-4354
Zach Feldman’s Email
ENJOI 77 HOLDINGS
Wildcat Fund
Rich Dad Poor Dad by Robert Kiyosaki
BiggerPockets
The Untold Stories of Real Estate Investing - Ep #13: Maximizing Real Estate Investment Returns through Cost Segregation with Yonah Weiss
Wayne Courreges
Free Passive Investor eBook by Wayne Courreges
The Untold Stories of Real Estate Investing Podcast41 min - Ep #14: Physical Therapist to Full Time Real Estate Investor Focused on Faith, Family and Real Estate with Lee Yoder
Wanted: Partners passionate about investing and creating new relationships with top-notch professionals in the real estate world. Are you committed to forging a path that will generate incredible wealth and opportunity for all involved?
In this episode, Wayne talks to Lee Yoder, a practicing physical therapist turned full-time real estate investor focused on faith, family, and building a business. He quickly built a portfolio of several small apartment buildings. Lee is the founder of Threefold Real Estate Investing and host of the Threefold Real Estate Investing Podcast.
Topics on Today’s Episode:
- Career: From climbing corporate ladder to being unchallenged and unfulfilled
- Entrepreneurial Spirit: Created to feel challenged, competitive, and fulfilled—not bored
- Residential Real Estate: Why apartments vs. commercial, industrial, or retail properties?
- Good, Bad, and Ugly: How to find and buy single-family and duplex properties? Auctions
- Goal: Go bigger, but stay smaller by owning 1,000 units in 10 not 100 buildings
- COVID-19: Tenants continue to pay rent or can be evicted despite unemployment
- Lessons Learned: Walk all units due to deferred maintenance leading to lots of money
- Vacancy Rates: Buy property, do what’s needed to improve value, and fill units
- Property Management: If you want nothing to do with managing people, hire someone
- Future: Syndicate by believing in economies of scale and on-site property management
- Risk Management: DIY or ask property management to get contractor/insurance quotes
- Masterminds and Mentors: Learn as you go and ask for help from those with experience
- Routine Habits: Stay focused and motivated by compounding wealth, commit to process
- Advice: Vett sponsor and select one with integrity and experience to be put at ease
Links and Resources:
Threefold Real Estate Investing
Threefold Real Estate Investing Podcast
[email protected]
Phone: 937-400-3044
Lee Yoder on LinkedIn
Xome
National Real Estate Investor Association (REA)
LoopNet
Centers for Disease Control and Prevention (CDC)
The Compound Effect by Darren Hardy
Wayne Courreges
Free Passive Investor eBook by Wayne Courreges
The Untold Stories of Real Estate Investing Podcast44 min - Ep #13: Maximizing Real Estate Investment Returns through Cost Segregation with Yonah Weiss
How do real estate investors with active and passive income save significant tax dollars, legally? Learn about general depreciation, bonus depreciation, and cost segregation.
In this episode, Wayne talks to Yonah Weiss, business director for Madison SPECS. Yonah has helped hundreds of real estate investors save tons of income tax money through cost segregation services.
Topics on Today’s Episode:
- Teacher Skillset: Trial-and-error role of non-stop networking to make cost seg less boring
- Real Estate vs. Tax World: Depreciation makes real estate a tax-advantaged investment
- What is cost segregation? Engineering method of study that involves taxation
- What is depreciation? Non-paper loss or deduction that reduces income tax liability
- Who can utilize depreciation? Any type of investment property—no matter size or shape
- Depreciation: Starts the day that you purchase the property, not intrinsic to wear and tear
- 100% Bonus Depreciation: Reallocate other property aspects, not structural pieces
- Icing on the Cake: Complicated cost segregation required for bonus depreciation
- Catchup with Depreciation Recapture: When investors sell property, avoid or defer tax
- Active and Passive Real Estate Investment/Cost Segregation Benefits:
- Maximize annual depreciation
- Reduce upfront income tax costs
- Lower capital costs
- Good, Bad, Ugly Aspects: Diversify investments, but don’t jump in without experience
40 min - Ep #12: Execute Strategy through Due Diligence and Construction Management with Jorge Abreu
It takes years of experience to become an expert at due diligence leading up to closing and then implementing a value-add strategy through construction, renovation, and repositioning.
In this episode, Wayne talks to Jorge Abreu, CEO of Elevate Commercial Investment Group and owner of JNT Construction. Jorge is a full-time active and passive multifamily real estate investor with 1,720 doors on the general partner side and more than 1,400 doors on the limited partner side.
Topics on Today’s Episode:
- Due Diligence Inspection Process:
- Gather information
- Schedule due diligence
- Hire professionals and manpower
- Inspect each unit
- Outsource leases to third-party property management company
- Inspection Tools: Software apps (HappyCo), phones, tablets, and power packs
- Most overlooked due diligence aspects and issues include:
- Drainage
- Plumbing and Sewage
- Storm damage
- Retrade or Renegotiate? Goal is to not retrade, unless issue is found, but not disclosed
- Cost Per Door: Ask a lot of questions to get accurate numbers to make appropriate offer
- Property Must-haves: Rebranding depends on budget and reputation for curb appeal
- Full Renovation Costs: From $5,000 for affordable housing to $10,000 for all inclusive
- Competent Contractors: Effective communication of change orders is critical for success
- Risk Management: Safety first—insurance coverage is necessary in case of claims
- Why actively invest? Transform properties to build up community, portfolio, and wealth
- Why passively invest? Returns and tax benefits are positively great
- Equity and Experience: If you need help, seek partnerships and teamwork
Links and Resources:
Jorge Abreu’s Email
Jorge Abreu on LinkedIn
Elevate Commercial Investment Group
JNT Construction
HappyCo
Wayne Courreges
Free Passive Investor eBook by Wayne Courreges
The Untold Stories of Real Estate Investing Podcast34 min - Due Diligence Inspection Process:
About CREI Partners
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