RealtyMogul's Podcast

Mitch Sinberg is a multifamily and commercial real estate debt and equity financing expert who serves as Senior Managing Director for Berkadia's Florida mortgage banking team. He co-manages the state of Florida, and since joining the firm in 2013, has increased Berkadia's annual volume ten-fold and is consistently named to Berkadia's 'CEO Circle' representing the top producers and leaders in the firm. Mitch is also an adjunct professor at Nova Southeastern University, teaching real estate finance and investment in the school's MS in Real Estate program.

Realty Mogul CEO Jilliene Helman and Mitch discuss the COVID-19 vaccine currently on the horizon and give a retrospective of events in multi-family real estate in 2020 and how the sector has weathered the pandemic. Mitch provides a high-level overview of investing in multifamily real estate in 2021 and shares his thoughts on why it is currently the safest place to put your money. Mitch also dives into details of the markets he is excited or concerned about from a long term perspective and where he would deploy his capital right now.

"Real estate in general, and certainly multi-family within the Real Estate sector, is the most stable of the sectors. We are seeing investment demand as strong we have ever seen it.." - Mitch Sinberg

This week on The Reality Mogul Podcast:

• Mitch's take on the differences between the 2008/09 recession for multi-family and the current downturn
• Why rent delinquencies are not higher in 2020, and Mitch's thoughts on collections going into 2021
• Historical trends and data on collections, and the insight that it provides for the current situation
• The impact of the stimulus on the markets and whether Mitch foresees significant change in 2021
• Why the pandemic has shown improvements in certain markets and how COVID-19 played a part in accelerating trends
• Mitch's take on the direction that Interest rates will take, and his message to investors on a portfolio level
• The projected impact on investors in real estate taking into consideration the change in the cap for Frannie Mae and Freddie Mac
• How a Biden presidency will affect multi-family real estate investors in 2021

Connect with Mitch Sinberg:

• Berkadia Website
• Mitch Sinberg on LinkedIn
• Berkadia on Instagram
• Berkadia on Facebook
• Berkadia on Twitter

Connect with Realty Mogul:

• Realty Mogul Website
• Ken Bodenstein on LinkedIn
• Realty Mogul on Instagram
• Realty Mogul on Facebook
• Realty Mogul on Twitter

Ken Bodenstein is Director of Acquisitions for Realty Mogul Communities, the direct acquisition arm of Realty Mogul. With over 30 years of real estate experience, principally in acquisition and asset management of multifamily properties, he is responsible for sourcing and acquiring multifamily assets in the Eastern United States. Ken has also held senior positions with other prestigious real estate firms, including AIG, Rockwood Capital, and AREA Property Partners.

Realty Mogul CEO Jilliene Helman and Ken Bodenstein discuss the 2020 election, the results that show Joe Biden as President-Elect and Kamala Harris as Vice President-Elect, and what it means for commercial real estate. Ken describes the ramifications of the upcoming fork in the road depending on who wins the special run-off elections for control of the Senate in Georgia. They also consider what the focus of the Biden Administration might be and how their priorities will impact on real estate investors through 2021 and beyond.

"Although there is a light at the end of the tunnel and although six months into the future things will look pretty good the next three to four months still look very difficult." - Ken Bodenstein

This week on The Reality Mogul Podcast:

• Ken's opinion on whether the Biden Administration will increase taxes or modify tax havens for real estate investors.
• What will happen for commercial real estate if there is a split House/Senate
• Expectations for capital gains tax, opportunity zone policies, and 1031 exchange policies next year
• Whether demand for commercial multi-family real estate will stay healthy, and pricing continue to hold up, in light of the Fed's interest rate policy
• Ken and Jilliene's opinion on whether Biden will push for tax increases while the pandemic is still ongoing
• Whether the Fed will wait until we see economic growth in the short term before changing their low rate policy
• The impact of two promising Covid vaccines on a long-term real estate investing strategy

Connect with Ken Bodenstein at Realty Mogul:

• Realty Mogul Website
• Ken Bodenstein on LinkedIn
• Realty Mogul on Instagram
• Realty Mogul on Facebook
• Realty Mogul on Twitter

Tyler Griffin is Senior Managing Director and Chief Operating Officer for the Mortgage Banking Business of ORIX Real Estate d/b/a Lument, a national leader in commercial real estate finance for investors in multifamily, affordable housing, seniors housing, and healthcare real estate. She is responsible for managing business operations across all loan platforms and overseeing transaction management and communications. Tyler also supports initiatives to integrate technology with current practices to facilitate production in these challenging times.

Listen in as our CEO, Jilliene Helman, speaks with Tyler Griffin, and they dive into how COVID-19 continues to impact real estate deals that Fannie Mae and Freddie Mac, and the Federal Housing Administration (FHA) have made. They discuss what real estate investors can expect from Fannie and Freddie and the FHA after the upcoming election's uncertainties and over the next two years. Tyler also explains how Lument and other lenders are leveraging technology during COVID-19 to stay one step ahead of the game and make sure to get deals done.

"Everyone wants the best properties and the best sponsors, and so as long as there is competition for sponsors and properties, there will be competition in the lending market as well." - Tyler Griffin

This week on The Reality Mogul Podcast:

• How large multi-family real estate has held up and how the stimulus contributed to that result
• Lument's Internal predictions on their debt servicing book and the trends that they are currently seeing
• What impact Fannie and Freddie's targets and quotas will have on rates into 2021
• The disruption to the bridge market and where Lument see rates and leverage
• Geographies that Tyler is looking to avoid or augment and why
• How the election will impact rates and debt availability and why Tyler is looking back at 2016 for the answers
• Tyler's thoughts on what will happen to the stimulus after the election
• The impact of COVID-19 on the senior living asset class and the changes being made on the ground to stabilize it
• The eviction moratorium, whether Tyler expects it to be extended by the CDC, and whether she anticipates challenges being made to the policy
• Tyler's predictions for real estate over the next two years

Connect with Tyler Griffin:

• Lument Real Estate Website
• Tyler Griffin on LinkedIn
• Lument Real Estate on Facebook
• Lument Real Estate on Twitter

Connect with Realty Mogul:

• Realty Mogul Website
• Realty Mogul on LinkedIn
• Realty Mogul on Instagram
• Realty Mogul on Facebook
• Realty Mogul on Twitter

Blake Okland is Vice Chairman and Head of Multifamily Investment Sales for Newmark Knight Frank. His role is to increase collaboration and improve client services nationwide by identifying and executing strategic initiatives. He previously served as president of ARA Asset Management, led the company's governing body, the National Executive Committee, and is currently an Executive Committee member of the National Multifamily Housing Council (NMHC). Blake has also worked as an acquisitions and dispositions analyst with Archstone-Smith Communities Trust, where he was directly involved with transactions totaling $500 million.

Today, Realty Mogul's CEO, Jilliene Helman, and Blake discuss what the US Multifamily trade expectations were prior to COVID-19 and how the pandemic impacted on those expectations. Blake shares what he is seeing in investments, which global investors continue to invest in the US, how the pandemic has altered the US multifamily market, and what is happening to global demand because of travel difficulties. Drawing on his experience of seeing Multifamily from many different angles, Blake also gives his opinion on whether now is the right time to sell Multifamily assets and discusses where you should put your money if you do decide to sell.

"We've got a lot of headwinds that COVID-19 has created, we've have a ton of workarounds which are going to make this messy middle of the rest of 2020, 2021 and into 2022, for Multifamily a lot more manageable than any of us would have imagined." - Blake Okland

This week on The Reality Mogul Podcast:

• Blake's thoughts on distress in Multifamily housing and why we haven't been inundated with widespread COVID discounts
• Whether now a good time to be a net buyer, and why
• Another financial cycle this time reminds Blake of and his recommendations of how operators should navigate through it from an assets management point of view
• Why government intervention is affecting Multifamily - how should they underwrite the stimulus package drying up, and why the eviction moratorium is troubling
• Human, underwriting, and operational elements of why foreign investors decide to invest in the US and how current government regulations will affect that confidence
• What brokers are enjoying about the situation right now and the advancements that would come out of the pandemic
• How Newmark Knight Frank is evolving and developing to continue to be a successful brokerage in this downturn
• Newark Knight Frank's orientation to managing assets that will potentially be exposed to climate change problems
• Opportunity zones and why they're an added area of interest rather than a focus

Connect with Blake Okland:

• Newmark Knight Frank Website
• Blake Okland on LinkedIn
• Newmark Knight Frank on Instagram
• Newmark Knight Frank on Facebook
• Newmark Knight Frank on Twitter

Connect with Realty Mogul:

• Realty Mogul Website
• Realty Mogul on LinkedIn
• Realty Mogul on Instagram
• Realty Mogul on Facebook
• Realty Mogul on Twitter

Ryan Davis serves as Chief Operating Officer at Witten Advisors and provides fact-based research, analysis, and discussion to inform investment decisions for multifamily development and help clients formulate their market strategies. After completing a Ph.D. in Economics from The University of Texas, Ryan joined Witten Advisors as a Senior Economist, having previously been Vice President of Royal Bank of Canada's Capital Markets and a Director at BMC Capital, a multifamily and commercial mortgage-banking firm. Ryan is in demand as a keynote speaker and currently serves as president the board of the DFW Association for Business Economics.

Listen to Realty Mogul's CEO, Jilliene Helman, and Ryan Davis in conversation about the differences between concerns this year and last year for multi-family real estate investors and Ryan's thoughts on what lies ahead for the real estate industry in the 43 unique local markets Witten Advisors covers. Ryan discusses the macroeconomic picture and drills down into the markets that he believes will perform best through this cycle. Ryan also reveals his top strategic picks for markets in which to buy and hold for the long term taking into consideration job growth, rent growth, demographics, and rent control laws.

"Housing will be a driver during this recovery so long as we have an active home-buying market and a home construction market." - Ryan Davis

This week on The Reality Mogul Podcast:

• If the worst is past, when do opportunities emerge? - Ryan's position on the current recession
• How housing supply is different now than in 2008/9 with particular reference to multi-family
• What Ryan anticipates will happen to property prices over the next few months
• Whether now the right time to make investments and when to expect positive net absorption
• Markets that Ryan thinks will thrive in the long and short term across the nation
• Why dense urban locations are not doing so well at the moment
• What Witten Advisors believes will happen to cap rates over the coming months
• When is the right time to buy apartments to take advantage of possible opportunities

Connect with Ryan Davis:

• Witten Advisors Website
• Witten Advisors on LinkedIn

Connect with Realty Mogul:

• Realty Mogul Website
• Realty Mogul on LinkedIn
• Realty Mogul on Instagram
• Realty Mogul on Facebook
• Realty Mogul on Twitter

Mr. Schwartz co-founded Waterton Associates, and as CEO, he works with the senior leadership team to set the strategic direction of the company and its investment programs, lead the Leadership Committee, Investment Committee, and assist the team in investments and fundraising. David is a member of the executive committee, a senior officer, and serves as Chairman of the National Multi-Housing Council (NMHC); he is also a member of the Urban Land Institute (ULI) and the Pension Real Estate Association (PREA). Before founding Waterton in 1995, David was vice president of acquisitions for Equity Residential Properties Trust (EQR-NYSE) and from 1985 to 1989 worked with AMLI Realty Co.

Listen in as Realty Mogul's CEO, Jilliene Helman, and David Schwartz discuss what Waterton Associates are doing to stay connected to other team members during the COVID-19 quarantine and how they are managing to achieve the best possible outcomes regarding multi-family. He shares the latest news on how he's helping to shape politics through the NMHC, outlines the current initiatives they are working on, and how much of his role at the NMHC is around educating Congress on real estate concerns. David also discusses how this recession compares to previous ones and what can we learn from the past despite the lack of a playbook for the current times

"2022 is going to be a robust recovery - get through to 2022 because there is going to be a pretty strong U shape recovery when this pandemic is over." - David Schwartz

This week on The Reality Mogul Podcast:

• David's professional mentors and how he got started in the real estate business
• The Waterton way and how it shapes company culture
• Why David prioritizes giving back to the community via his company
• How the COVID-19 pandemic impacts on the real estate industry
• How the Cares Act functions as a critical facet to keeping people in their homes
• The availability of emergency rent relief vouchers and whether David thinks we will see them extended in the next stimulus package
• The eviction moratorium and David's predictions on the possibility of an extension at a federal level
• David's opinion on the best way to prevent mass evictions and how the proposed alternatives would work
• Predictions on how the economic recovery will play out
• What's next for David personally and professionally

Connect with David Schwartz:

• Waterton Associates website
• David Schwartz on LinkedIn
• Waterton Associates on Facebook
• Waterton Associates on Instagram
• Waterton Associates on Twitter

Connect with Realty Mogul:

• Realty Mogul Website
• Realty Mogul on LinkedIn
• Realty Mogul on Instagram
• Realty Mogul on Facebook
• Realty Mogul on Twitter

Diane Batayeh is the Chief Executive Officer of Village Green Holding LLC, and plays a pivotal role in the development and implementation of their business plans and strategic initiatives. She is an example of Village Green's "Promotion from Within" philosophy joining Village Green Holding in 1980, as a part-time sales consultant before eventually becoming the Chief Operating Officer and a Board Member in 2011, then President/COO, and ultimately Chief Executive Officer in 2017. Diane and Village Green firmly believe in the upward spiral of good fortune and are proud to support various charitable causes, including Ronald McDonald House Charities and the Live Like Roo Foundation.

Listen in as Realty Mogul's CEO, Jilliene Helman, and Diane Batayeh discuss the value of working in and having an intimate understanding of all facets of a business and why Diane spent her whole career as one company. They consider the best practices in property management in the current climate and whether owner-operators are more reliable and effective than third party operators in getting problems resolved. Diane also shares a little about her role on the NMHC Executive Board's Executive Committee and gives us a macro perspective on what she anticipates the coming months holding for real estate.

"Get comfortable being uncomfortable. You never know where life will take you." - Diane Batayeh

This week on The Reality Mogul Podcast:

● What led Diane into becoming a part-time leasing agent for Village Green Holding

● How she is keeping her employees motivated and focused both in regular times and in these challenging times

● Why she is an advocate for servant leadership

● The biggest mistakes property managers make and how to overcome them

● The crucial 4 Ps and how to use them to manage well

● Evolution of Village Green Holdings and why they value the family feel of the business

● The impact of the property manager on the collections rate

● Ways Village Green Holding have they changed their practices in light of COVID-19

● The impact of technology and virtual leasing on their business and how they have protected their online security

● How underwriting has changed over the last six months

● How Village Green Holdings are managing bad debt in different asset classes

Connect with Diane Batayeh:

• Village Green Holdings website
• Diane Batayeh on LinkedIn
• Village Green Holdings on Facebook
• Village Green Holdings on Instagram
• Village Green Holdings on Twitter

Connect with Realty Mogul:

• Realty Mogul Website
• Realty Mogul on LinkedIn
• Realty Mogul on Instagram
• Realty Mogul on Facebook
• Realty Mogul on Twitter

Peter Linneman is a multi-award-winning economist who combines practical business insight and academic excellence has won him accolades, such as PREA's prestigious Graaskamp Award for Real Estate Research, and Wharton's Zell-Lurie Real Estate Center's Lifetime Achievement Award. He founded Linneman Associates, a leading real estate advisory firm, and currently serves as CEO of American Land Fund and CEO of KL Realty and has advised leading corporations and sat on numerous public and private boards. Peter's academic career centered around The University of Chicago and the Wharton School of Business at the University of Pennsylvania, his book Real Estate Finance and Investments: Risks and Opportunities in now on it's fourth edition, and he still distributes the Linneman Letter report.

In this episode, Realty Mogul's CEO, Jilliene Helman, and Dr. Peter Linneman compare this economic slowdown and the recession of 2008/09. Peter gives his opinion from the economist's perspective on whether the cure has proved worse than the disease and the reasoning behind his thoughts. He also shares his tips on working out when it's time to jump back into the market, how to create your own barometer, and what unusual data sets you can leverage to be successful in real estate investing.

"Treading water is very different to making progress and swimming forward. Holding a business together remotely is do-able, building a business remotely is pretty close to impossible." - Dr. Peter Linneman

This week on The Reality Mogul Podcast:

• Peter's thoughts on adaptations we have to make regarding COVID-19
• Peter's predictions for when we are going to come out of the recession
• How the virus will impact unemployment in the short and long term
• What the adjusted unemployment percentage is likely to look like by the end of 2021
• The efficacy of models in predicting the shape of the recovery
• Thoughts on the stimulus and its political impact
• The rate of Inflation and the impact on real estate
• Whether this is the start of the great de-organization?
• What impact does the remote working trend have on the realty market

Connect with Peter Linneman:

• Linneman Associates website
• Linneman Associates on Facebook
• Peter Linneman on LinkedIn
• Peter Linneman on Twitter

Connect with Realty Mogul:

• Realty Mogul Website
• Realty Mogul on LinkedIn
• Realty Mogul on Instagram
• Realty Mogul on Facebook
• Realty Mogul on Twitter

Andrew Rybcyzynski, Managing Consultant at CoStar, provides analysis and ideas to help place capital for high-value clients, including pension funds, private equity, and developers pursuing investments in commercial real estate. He leads the multifamily team in researching paths for investment using spatial analytics through ArcGIS and Python to determine geographic relationships between target properties and their surroundings.

Andrew also researches and writes on real estate trends and has contributed articles to the Journal of Portfolio Management and CoStar's Real Estate Portfolio Strategist and provides data to publications including The Wall Street Journal, The New York Times, and National Real Estate Investor.

Listen in to Realty Mogul's CEO, Jilliene Helman, and Andrew Rybcyzynski discuss markets that will perform well despite COVID-19 according to the data, and Andrew's thoughts on some specific cities and their long and short term futures in terms of CRE. Andrew shares the intricacies of his work on population growth and draws some conclusions on how this recession may differ from the recession of 2008. They also drill down into when Andrew anticipates distress coming to the market, and he gives his pick of short term and long term buoyant markets, including his number one positive choice.

"Remote working is a trend going forward, but we're not predicting that offices will be completely unused - we expect that workers will still be tied to their geographical location in some way." - Andrew Rybcyzynski

This week on The Reality Mogul Podcast:

• Andrew's perspective on the recession and how it affects community real estate
• The new pattern of remote flexibility and why he believes that the office is not dead
• The markets that Andrews is most concerned about right now
• How an increase in property tax affects supply and demand
• Andrew's take on the data that shows online searches for rental property and what the statistics say about whether those searches are coming from within outside the metro and how that data compares to last year
• The best performing secondary and tertiary markets
• Southern growth markets and the short term problems in tourist areas
• The forecast for student accommodation countrywide
• The effect of the federal stimulus on the markets

Connect with Andrew Rybcyzynski:

• CoStar website
• Andrew Rybcyzynski on LinkedIn
• CoStar on Facebook
• CoStar on Instagram
• CoStar on Twitter

Connect with Reality Mogul:

• Realty Mogul Website
• Realty Mogul on LinkedIn
• Realty Mogul on Instagram
• Realty Mogul on Facebook
• Realty Mogul on Twitter

Manus Clancy, Senior Managing Director at Trepp, spearheads the development of Commercial mortgage-backed securities (CMBS) research and commentary at the company. He established Trepp as a pioneer in offering critical information for the daily workflow of the CMBS and Commercial Real Estate (CRE) finance industries, and his expertise has won Trepp a reputation of dependability that stretches all the way up to the US Federal Reserve. Manus has served on the US and UK Investor Reporting Package Committees of the Commercial Mortgage Securities Association and is often quoted on financial matters in the Wall Street Journal and New York Times in addition to his articles written for The Handbook of Commercial Mortgage Backed Securities and Whole Loan CMOS.

Listen to the conversation between Realty Mogul's CEO, Jilliene Helman, and Manus Clancy that focuses on where the opportunities will lie in this unusual climate and on understanding what distress looks like in the CRE markets. Manus shares his thoughts on where the CRE hotspots lie and how they perform in relation to non-hotspots and when he sees the tipping point into distress happening. They also discuss the changing patterns of household formation and the impact of COVID-19 on lease renewal that Trepp sees in their current research.

"Markets that have done well attracting tech companies will continue to survive; they continue to gobble up space in epic proportion, not only for office but for multi family and retail." - Manus Clancy

This week on The Reality Mogul Podcast:

• The effect of the federal stimulus on rents
• Which multi-family markets Manus is optimistic and pessimistic about
• Effect of remote working on multi-family markets
• Data and news from the retail markets
• What the numbers look like in the hospitality sector
• Asset classes poised to do well that Manus is excited about and why
• Manus' observations on the commercial CRE collateralized loan obligation market
• The CNBS market - how the markets works and what Manus is seeing currently
• Manus' predictions for the economy going forward

Connect with Manus Clancy:

• Trepp website
• Manus Clancy on LinkedIn
• Trepp on Facebook
• Trepp on Twitter

Connect with Reality Mogul:

• Realty Mogul Website
• Realty Mogul on LinkedIn
• Realty Mogul on Instagram
• Realty Mogul on Facebook
• Realty Mogul on Twitter