Street Smart Success

In the world of multifamily, things change from block-to-block. That’s why hyperfocus on not just a market, but a neighborhood, can generate risk-adjusted ,outsized returns over time. Simply put, all Real Estate is local. 

Today’s guest, Anthony Vicino, Co-Founder of Invictus Capital, is building an impressive portfolio of properties in the Twin Cities in great infill locations that he’s vertically managing.

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In the 100+ Multifamily universe, it’s become increasingly difficult to find value regardless of market or asset class. There’s just too much money chasing too few deals. With smaller buildings, however, there’s less competition and way more opportunity for creativity and value-add solutions that generate more attractive returns. 

Today’s guest, Chris Grenzig, Owner of JAG communities in Jacksonville, Florida, is buying smaller buildings with great returns and plans to gradually scale to larger properties.

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When unprecedented amounts of money are chasing so few assets, the result is inflated asset prices like never before. As a result, ground up construction can be a better way to get decent returns. 

Today’s guest, Jake Harris, Founder and Managing Partner of Harris Bay, looks for unique infill development opportunities in secondary or tertiary markets with the right fundamentals. Jake focuses more on the market versus the asset class in determining which opportunities to pursue.

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Successful investing requires planning for economic downturns. When the economy takes a hit, more people go to college to prepare for careers. That’s why student housing is a recession proof asset class. Current occupancy levels for student housing in the country’s top university towns is well over 95%. 

Today’s guest, Fred Pierce, President and CEO of Pierce Education Properties, is one of the country’s top student housing operators with over 30,000 beds. He’s acquiring more in popular college towns with super high demand that far exceeds supply.

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When you have a reduction in supply, an increase in demand, and the most affordable housing option, you have an incredibly durable asset class. Ma and Pa operators all over the country are selling their parks as they reach retirement age. Since 3rd party management hardly exists in Mobile Home Parks, there’s lots of great Value-Add deals to be had. 

Today’s guest, Mario Dattilo, Co-Founder of Real Estate Acquisitions USA, is acquiring an impressive portfolio of Mobile Home parks in Florida and other states.

Learn more at https://www.streetsmartsuccess.com

Over 25 years ago, you had to send your loved one to a nursing home if they could no longer care for themselves. Today, you can send them to an Assisted Living facility with a much more current approach to lower-level care. This area of housing area has continued to face increased demand. The population is aging and more seniors need assistance with day-to-day functions they can no longer perform at home. 

Today’s guest, Justin Burke, is building a portfolio of Assisted Living facilities in the upper Midwest.

Learn more at https://www.streetsmartsuccess.com

Knowing when to buy can make all the difference between average and incredible returns. In today’s world there’s distress in office, retail and hotels. 

Today’s guest, Nate Barger, started out flipping homes and apartments but has slowed down adding multifamily to his portfolio and is pivoting instead to value-add hotels with great upside potential as the market for hospitality rebounds. His website is https://www.natebarger.com/

Learn more at https://www.streetsmartsuccess.com

Not all retail is the same. Many mid-market, grocery-anchored centers are doing very well and other tenants are benefitting from the traffic. Among other e-commerce resistant tenants, Health Care providers are starting to lease space in neighborhood centers. 

Today’s guest, Scott Tiano, Founder of JS Western, and more recently, Portal Investment Management, is implementing highly successful value-add strategies in mid-market retail centers in the Western U.S.

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With C class properties selling for cap rates equivalent to B and A class properties, a number of operators are exchanging into A class. These properties are easier to hold for the long-term because they don’t have the same looming cap-ex to deal with over the next several years. 

Today’s guest, Keith Wasserman, Co-Founder of Gelt Inc. in Southern California, started out with heavier value-add projects in Bakersfield, then Phoenix, plus other Western markets. More recently, he’s been trading up to newer vintage properties for longer-term holds.

Learn more at https://www.streetsmartsuccess.com

10,000 people are turning 75 every day in this country. There are currently more people in their 70’s 80’ and 90’s than ever before. The demand for Assisted Living is just at the tip of the iceberg and operators are poised to do well if they can serve this population responsibly. 

Today’s guest, Joe Pohlen, Principal of Cardinal Senior Management, is having great success buying underperforming assets and repositioning them by treating residents and employees the way they should be treated.

Learn more at https://www.streetsmartsuccess.com