Real Estate Addicts

In this episode we are joined by Josh Brandt, co-found of Stack + Co. and discus how Stack + Co has grown to becoming a best in class Design Build Firm in New England. Josh walks us through the founding of the company through growing the business to the $20mm per year mark. We also discus Josh's first foray leveraging his design/construction background into real estate development. The conversation was interesting and engaging throughout. We hope you get a chance to listen and please e-mail us with your feedback to [email protected]

Mike Costello has served as Director of Recruiting and Talent Acquisition for major companies like Suffolk Construction and American Tower where he currently leads corporate recruiting efforts and is responsible for overseeing 300-400 new hires per year! We discuss tips and tricks for recruiters and job candidates alike so they can make the best hires and career decisions. Some of the highlights of our conversation include; how to formally structure an interview, how to ask behavior and situational based questions as well as the best strategies to answer them. We hope you enjoy the Podcast and please e-mail us with your feedback or questions to [email protected]

Had a lot of fun recording this episode with the hosts of the Cash Flow Kings out of Providence, RI.

In this episode we compare the Providence, RI and Boston, MA markets. We compare and contrast buying strategies and compare notes on the challenges and opportunities inherent in each.

Patrick Mahoney of Boston Zoning Strategies offers REA listeners a diversity of experience as a zoning attorney, local developer and former building official. We begin by clarifying and explaining the nuances of some commonly misunderstood zoning terms such as building height, number of stories & FAR. We discus the difference between a story and a “mezzanine”, how to measure grade if the property is built on a hill & when a basement contributes as a “story” on a building? We also dive into the notion of “grandfather status” and when a non-conforming feature can actually be considered “exiting to remain” (hint: statue of limitations).

In this episode we are delighted to be joined by Bruce Percelay, founder and Chairman of the The Mount Vernon Company. Bruce brings us through his career starting in the mailroom of an advertising company to founding a real estate investment firm considered among the leading apartment landlords in Massachusetts. The company has grown over the past 30 years to include approximately 1,600 apartments, 5 hotels, as well as select commercial and vacation properties. This was one of our favorite episodes and truly one you don’t want to miss!

We’d love to hear your feedback! Please e-mail us at [email protected]!

REA is joined by Michael DiMella & P.T. Vineburgh, co-founders of Charlesgate Realty Group to discuss how they’ve organically built an incredibly successful boutique real estate brokerage firm which specializes in the marketing of new construction for multi-unit residential. The guys share how they’ve persevered in an industry where large national brands seem to be eating up more and more market share. We candidly discus topics like off market “pocket” listings, Realtors who pay to be featured in “Who’s Who” publications and whether print ads really work or if they just make sellers feel special? What does it mean to be a “closer” and should they be remanded to used car dealerships? Finally, we discus the innovative strategies Charlesgate has pioneered in selling new construction. Enjoy the episode and thanks for your reviews on iTunes and for sharing!

Anne Amagrande, founder of Grande AMA & Associates LLC has created a system of acquiring single family homes in blue-collar neighborhoods in AZ & TX by re-positioning them and executing a planned exit using a “lease option” often targeted to buyers who may have more difficult time qualifying for a conventional purchase. Anne’s system and her private equity firm provides investors with cash flow, equity growth and preferable tax treatments. We discuss the nuances of “lease to own” and some of the regulatory pitfalls, how Anne has successfully scaled this business, what improvements Anne prioritizes in a “Rentovation” as well as Anne’s preferred investment structure for investors. E-mail us your feedback at [email protected]

In this episode, The Real Estate Addicts throw it back to their roots as they are joined by Professor Jonathan Keefe of the BU Program for Real Estate Studies. REA co-host, Marc Savatsky met Jonathan in 2011 when he began exploring a career transition from construction to real estate development and enrolled in Jonathan’s evening course, Fundamentals of Investment Analysis. Aside from helping to run the BU program, Jonathan is also the Managing Director of Strategic Services at Cushman and Wakefield where he provides a unique blend of executive and consulting experience to help clients optimize their real estate organization, strategies, portfolios, transactions, projects, and operations.

In our conversation, we revisit some of the same the same analytical techniques covered in Jonathan’s course which each aim to help developers make effective decisions about the acquisition, development, financing, and disposition of investment properties.

Topics discussed include: Time value of money; aftertax discounted cash flow analysis; net present value; internal rate of return (IRR); investment decision rules; income capitalization and debt coverage ratios.

Aaron Galvin, Founder & CEO of Luxury Living Chicago Realty (LLCR) joins the Pod to discuss how LLCR is transforming the way luxury apartments are being leased. Aaron works closely with the nation’s top development firms consulting on everything from apartment pricing to finishes to amenity programming. Galvin oversees a pipeline of exclusively listed multifamily developments including new Class-A lease-ups, ongoing leasing, and condo deconversions. He manages a team of Realtors responsible for over $500 million in rental volume and over $100 million in sales volume in downtown Chicago. Our conversation was wide ranging and interesting throughout touching on topics including:

Macro trends favoring renting and why a once perceived stigma is quickly disappearing

Implementing an ideal marketing program consisting of an awareness phase, nurturing campaigns, & pre-launch phase

What is a VIP launch strategy and how has LLCR has used this in part to pre-lease at least 25% of a building before it opens

Pricing strategies including tips on how to effectively and surgically employ lease-up concessions

LLCR’s typical lease up durations and strategies to accelerate those timelines

Which capital improvements should a developer prioritize to ensure their buildings are competing with class-A apartment buildings?

How Aaron has built a specific expertise in the marketing and leasing of condo deconversions – a trend of investors buying condo buildings and converting them into a apartments which is surging in Chicago.

How smart developers are using amenities to effectively bring people together and build shared experiences

The way which technological amenities like building wide apps are gaining quick adaption and why they are here to stay

Why using amenities which simply “check the box” are inadequate and not even worth doing

How to make best use of model units

We discus landlord tenant law and compare Boston to Chicago

Multi-year leases and two major and often overlooked ways they make a positive impact on buildings

We had the pleasure to chat with Bryan Lee, one of the three founding principles at Transom Real Estate on his career in real estate development. Bryan and his partners each hail from Related Beal where they gained experience working on a variety of large-scale projects in various sectors of development. The very first project Transom took on was 212 Stuart St., a major undertaking consisting of 126 residential, 19 stories and 146,0000-square-foot ground-out development in Bay Village, one of Boston’s most desirable neighborhoods. We discus construction pricing, compare the pros and cons of developing apartments versus condos, how Transom filters opportunities, the merits of debt brokerage, how Transom uses opportunity funds to finance their deals, what makes for good design and why Bryan and his partners are firm believers in spending on design to distinguish their projects. We had a ton of fun recording this episode and hope you will enjoy it too! Thanks for your reviews on iTunes, your feedback and as always for sharing the podcast!