Lorne Polger, co-founder and Senior Managing Director of Pathfinder Partners joins me on this episode. After more than 20 years practicing real estate and environmental law at Procopio, in San Diego, and just before The Great Recession began, Lorne and his partner Mitch Siegler had the vision and guts to leap into the operator role.

Chapters:

(00:00) Introduction to Offshoot and Lorne Polger

(04:54) Pathfinder's Origin Story: From Hot Tub Idea to Real Estate Investment Firm

(12:11) COVID-19's Impact on Real Estate: Market Disruption and Opportunities

(24:47) Remote Work and Geographic Shifts in the Workforce

(35:14) Transaction Activity: Revival in Multifamily and Unsolicited Offers

(44:24) Regional Investment Strategy: Using Data to Find the Right Markets

(54:29) Building a Successful Investment Firm: Partners, Teams, and Advisory Boards

(01:09:01) Personal Performance: Daily Routines and Mindful Productivity

(01:18:34) Advice for Entrepreneurs: Focus on Passions and Ask for Help

Ian Formigle, the Chief Investment Officer of Crowdstreet joins us on this episode. Speaking about their 2013 startup through today, where CrowdStreet has become one of the preeminent crowdfunding platforms in the Nation, Ian shares a ton.

Chapters:

(00:00) Introduction to Offshoot and Ian Formigle

(03:55) The Evolution of CrowdStreet: From JOBS Act to Major Investment Platform

(09:30) Post-COVID Investment Strategy: Asset Classes and Market Opportunities

(18:42) The Future of Cap Rates and Interest Rates: Monetary Policy Implications

(25:53) CrowdStreet's Role in Commercial Real Estate Capital Markets

(38:09) Removing Inefficiencies: Connecting Investors Directly to Real Estate

(47:20) Build-to-Rent: The Emergence of a Compelling New Asset Class

(55:26) Building Teams and Relationships in Commercial Real Estate

(01:04:25) Personal Routines and Entrepreneurial Wisdom

We welcome Josh Sasouness, Co-CEO of Dwight Capital, to this episode of Offshoot. Dwight is NYC-based mortgage banking platform that is the number one multi family FHA/HUD lender in that Nation. Josh and his brother, Adam, came to that position after only six and a half years advancing the business they started in 2014.

Chapters:

(00:00) Introduction to Offshoot and Josh Sasouness

(04:23) Josh's Background: From New Jersey to Mortgage Banking

(10:17) Building Dwight Capital: From Six People to Industry Leader

(14:39) The Key to Success: Creating an Efficient Work Environment

(19:17) HUD Loans: Navigating Market Perceptions and Realities

(22:28) The Amazon Jungle Analogy: Why Expert Guidance Matters

(23:58) Client Loyalty: The Value of Working with HUD Experts

(26:37) Game-Changing HUD Program Updates: The Three-Year Rule

(31:10) COVID's Impact on HUD Financing and Record Demand

(39:56) The Leap of Faith: Building Multiple Successful Businesses

(48:43) Active Management Style: Sitting in the Center of Operations

(54:08) Personal Routines: Morning Workouts and Prayer

(56:56) The Value of Deep Relationships in Business

(01:01:55) What Drives Josh: "It's All About Winning"

(01:03:45) Words of Wisdom: "Keep Walking" and "Turn the Page"

In this episode we welcome Brian Shirken. Brian is a Cofounding Partner at Mountain Pacific Opportunity Partners, and the founder of its precursor, Mountain Capital Partners. He also co-founded Columbus Pacific in 1995. Brian has been principally involved in millions of square feet of retail, over 10,000 student housing beds, development of over 3,000 multifamily units, and 5 assisted living projects.

Chapters

(00:00) Introduction to Offshoot Podcast and Brian Shirken

(06:49) Path to Real Estate: Finding Passion and Opportunity

(08:17) Starting Columbus Pacific: Taking the Leap During RTC Era

(14:54) Choosing QOZ Markets: Primary and Secondary Focus

(19:35) Investment Philosophy: People First, Then Properties

(22:30) Credit Enhancement: Adding Value Through Guarantees

(27:21) Market Distress: Timeline for Potential Opportunities

(35:33) Contrarian Investment Approach: Beating the Market

(37:37) Preferred Equity Strategy: Structure Over Returns

(39:44) Team Building: Lightweight Operations and Partnership Focus

(44:01) Maintaining Flexibility: Moving Between Real Estate Sectors

(46:01) Finding Your Passion in Real Estate: Keys to Success

(48:45) Relationship Building: Shared Values and Partnerships

(51:32) Technology as a Tool: Managing Digital Noise

(54:33) Closing Wisdom: Getting Out of Your Own Way