Real Angle: Building Success in Commercial Real Estate

Joshua Kahr

In ”Real Angle”, our host, Joshua Kahr, interviews owners, managers, and thought leaders in commercial real estate investment and development. We seek out the unusual and innovative investment strategies that separate them from the rest of the pack. read less
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Episodes

Exploring Land Development in Texas, Alexander Vitenas @ Land Based Strategies
5d ago
Exploring Land Development in Texas, Alexander Vitenas @ Land Based Strategies
In this conversation, Josh Kahr speaks with Alex Vitenas about land development. They discuss the process of land development in Texas, including tax foreclosures and auctions. Alex shares his experience in purchasing distressed assets and flipping properties. He also talks about his funding strategies and the importance of finding the right deals. Alex highlights the success he has had with subdividing land and selling the parcels individually. Alexander Vitenas discusses his strategy of utilizing leverage to acquire properties and pay off debt quickly. He shares his approach of accumulating cash and then using leverage to do acquisitions. He also talks about the benefits of delayed gratification and the challenges of analyzing a large number of deals. Vitenas explains his decision to focus on finding the best deals rather than a specific neighborhood and the importance of being able to quickly identify the highest potential opportunities. He also shares a story about a challenging property purchase and the legal issues he faced.   Takeaways Land development in Texas involves tax foreclosures and auctions. Purchasing distressed assets can be a profitable strategy. Finding the right deals and focusing on specific areas can lead to success. Subdividing land and selling parcels individually can be a lucrative approach. Utilizing leverage can help accelerate debt repayment and property acquisition.  Accumulating cash and then using leverage can be an effective strategy. Delayed gratification can have significant benefits in the long term. Analyzing a large number of deals can be challenging but can lead to finding the best opportunities. Focusing on the best deals rather than a specific neighborhood can result in higher deal flow and better returns. Legal issues can arise in property purchases, and it is important to navigate them effectively. --- Chapters 00:00 Land Development in Texas 11:45 Finding the Right Deals and Focusing on Specific Areas 22:26 The Benefits of Delayed Gratification 29:11 Navigating Legal Issues in Property Purchases
Benchmarking Performance, with Norman Miller, Professor Emeritus at the University of San Diego
Jun 25 2024
Benchmarking Performance, with Norman Miller, Professor Emeritus at the University of San Diego
In this conversation, Joshua Kahr and Norman Miller, a professor emeritus at the University of San Diego, discuss various aspects of real estate investment. He explains the evolution of family offices and the challenges of benchmarking in real estate. Miller emphasizes the importance of long-term thinking and net present value in investment decisions. He also highlights the significance of storytelling and track records in the industry. Additionally, Miller discusses the role of risk, branding, and niche segments in real estate investment. He concludes by expressing optimism about the future of the real estate market. Takeaways Real estate investment requires a long-term perspective and a focus on net present value rather than short-term gains. Storytelling and track records play a crucial role in attracting investors and building credibility in the real estate industry. Benchmarking in real estate can be challenging due to the lack of public data and the diversity of property types. Investors should consider the risk-adjusted returns and the financing strategies when evaluating real estate investments. Niche segments, such as data centers and self-storage, offer promising opportunities for real estate investors.   --- Chapters 00:00 Introduction and Background 01:27 The Evolution of Family Offices 03:43 Challenges of Benchmarking in Real Estate 05:36 Determining the Right Level of Risk in Real Estate Investing 07:23 Internal Rate of Return (IRR) vs. Net Present Value (NPV) 09:17 The Importance of Storytelling in Real Estate Investment 10:28 The Challenge of Measuring Success in Real Estate 13:18 The Role of Risk in Real Estate Investment 14:17 The Importance of Track Records in Real Estate Investment 19:14 The Value of Branding in Real Estate 21:45 The Future of Private Wealth Managers in Real Estate 23:31 The Importance of Niche Real Estate Segments 26:06 The Role of REITs in Real Estate Investment 31:47 The Future of the Real Estate Market 33:21 Conclusion
Transitioning from LP to GP, Diana Lin @ Navi Ventures
Jun 18 2024
Transitioning from LP to GP, Diana Lin @ Navi Ventures
In this conversation, Josh speaks with Diana Lin from Navi Ventures. We discuss her role in the company and their focus on value-add multifamily properties. She shares the markets they operate in, including Arizona, DFW, and New Mexico. Diana explains how she transitioned from being an architect to launching her own real estate venture. She emphasizes the importance of partnerships and finding mentors in the industry. Diana also highlights the value of hands-on experience in real estate rather than relying solely on formal education. Diana Lin discusses her transition from being a limited partner (LP) to a general partner (GP) in real estate deals. She highlights the benefits of being an LP, such as gaining perspective on underwriting and vetting sponsors. Diana also shares her surprises and challenges as a GP, emphasizing the importance of time management and active asset management. She expresses her interest in focusing on ground-up development in the future and leveraging her architectural background to design her own projects. Overall, Diana's journey showcases the evolution and growth of a real estate professional.   Takeaways Navi Ventures focuses on value-add multifamily properties in markets such as Arizona, DFW, and New Mexico. Diana Lin transitioned from being an architect to launching her own real estate venture. Partnerships and finding mentors are crucial in the real estate industry. Hands-on experience in real estate is valuable and can be more beneficial than formal education. Transitioning from an LP to a GP provides valuable perspective on underwriting and vetting sponsors. Active asset management is crucial for success as a GP. Being a GP requires time management and the ability to wear multiple hats. Ground-up development offers opportunities for creative design and control over the entire project. --- Chapters 00:00 Introduction and Company Overview 01:07 Markets and Location 04:07 Diana's Background in Architecture 06:27 Transitioning from Architecture to Real Estate 08:26 The Decision to Launch Navi Ventures 10:55 Choosing Value-Add Multifamily 12:36 Importance of Partnerships and Trust 14:04 The Value of Experience over Education 15:08 Learning by Doing 16:24 The Role of Architecture in Real Estate 18:43 Benefits of Being an LP 21:09 Surprises of Being a GP 22:34 Balancing Work and Family 25:36 Future Plans: Ground-Up Development 28:38 Architecture Background and Development
Staffing a Family Office, Brian Adams, Principal @ Mack International
Jun 4 2024
Staffing a Family Office, Brian Adams, Principal @ Mack International
It's not easy to build a management team for family offices. In this episode, I speak with Brian Adams, Principal at Mack International. We discuss his transition from the commercial real estate industry to executive search for family offices. He explains the unique challenges of hiring for family office positions, including the need for candidates with both technical skills and emotional intelligence to work within a family construct. Adams also highlights the stability and control that family offices offer compared to traditional finance roles. He discusses the increasing importance of family offices as their own asset class and the trends of leadership transition and the creation of new family offices. Overall, he provides valuable insights into the world of family offices and executive search within this niche industry. Takeaways Hiring for family office positions requires candidates with both technical skills and emotional intelligence to work within a family construct. Family offices offer stability and control compared to traditional finance roles, which can be attractive to professionals seeking a long-term career. Family offices have become their own asset class and are increasingly professionalized and institutionalized. The future of family offices includes a leadership transition from baby boomers to the next generation, as well as the creation of new family offices and the splitting off of branches within larger families. Chapters 00:00 Introduction and Background 00:40 Transition to Executive Search 03:21 Hiring for Family Office Positions 05:29 Differences in Hiring for Family Offices 08:24 Compensation and Career Path in Family Offices 10:22 Rise of Family Offices --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
Data Driven Development in Boston, Eric Doroski @ Zanzibar Capital
May 28 2024
Data Driven Development in Boston, Eric Doroski @ Zanzibar Capital
Summary In this conversation, Joshua Kahr speaks with Eric Doroski, Managing Partner at Zanzibar Capital, about their focus on the Boston market and their investment and development pipeline. They discuss the challenges in the current market, including the lack of debt and equity, and the impact of interest rates. Eric shares insights into their current project, a 32-unit condo development, and the importance of understanding the retail condo market. They also discuss their data-driven approach and how they convey this to their investors. Eric highlights the trend of affordable housing projects and their equity sources, including working with family offices. Takeaways Zanzibar Capital focuses on the Boston market, particularly in the greater Boston area, with a focus on multifamily and mixed-use properties.They are currently working on a 32-unit condo development project in South Boston, which includes ground-floor retail and affordable units.Eric Doroski emphasizes the importance of a data-driven approach and the ability to provide quantitative answers to investors' questions.They discuss the challenges in the current market, including the disconnect between buyers and sellers, and the impact of interest rates. However, there are still opportunities for investment and development. Chapters 00:00 Introduction and Background 01:02 Zanzibar Capital and Focus on Boston Market 03:18 Investment vs. Development Pipeline 04:27 Challenges in the Current Market 05:12 Current Project: 32-Unit Condo Development 07:14 Retail Condos and Specialized Investments 08:06 Focus on Core Competencies 09:08 Cashless Society and Amenities 09:54 EV Charging and Future-Proofing 11:56 Interest Rates and Future Opportunities 13:13 Data-Driven Approach and Investor Communication 15:22 Unique Value Proposition and Gut Feelings 19:49 Trends in the Market: Affordable Housing Projects 23:04 Equity Sources and Working with Family Offices 26:41 Interesting Market Trends and Opportunities   --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
Online Fundraising and CrowdStreet, Ian Formigle @ CrowdStreet
May 21 2024
Online Fundraising and CrowdStreet, Ian Formigle @ CrowdStreet
In this conversation, Ian Formigle, Chief Investment Officer at CrowdStreet, discusses the role of CrowdStreet as an online platform for individuals to invest in commercial real estate projects. He explains how CrowdStreet acts as a broker-dealer and offers investment opportunities in various asset classes and geographies. Ian also highlights the growth of the investment advisor side of CrowdStreet and the different preferences of investors.   He shares the factors that contributed to CrowdStreet's success in the online platform market and the importance of avoiding platform risk. Ian discusses the types of real estate investments that attract investors, such as multifamily properties, and the challenges of investing in niche product types. He also explains the process of finding and vetting sponsors for the platform and the criteria used for screening. Finally, Ian discusses the short-term goals of CrowdStreet, including recovering and growing in 2024.   Takeaways CrowdStreet is an online platform for individuals to invest in commercial real estate projects across the country.CrowdStreet acts as a broker-dealer and offers investment opportunities in various asset classes and geographies.Investors on CrowdStreet can choose between investing individually or through funds managed by CrowdStreet Advisors.Multifamily properties are a popular investment choice on the platform due to their approachability and potential for cash flow.CrowdStreet screens and vets sponsors to ensure they meet the platform's criteria and maintain a long-term relationship based on trust. Chapters 00:00 Introduction and Overview 00:43 What does CrowdStreet do? 01:38 CrowdStreet's Role as a Broker-Dealer 03:00 Growth in Investment Advisor Side 04:07 Surviving and Thriving in the Online Platform Market 05:23 Factors Contributing to CrowdStreet's Success 06:11 Differentiating CrowdStreet's Marketplace 07:02 Avoiding Platform Risk 08:27 Creating a Scalable Investor Experience 09:46 Transitioning from Active to Passive Real Estate Investing 11:58 Understanding Crowdfunding and Regulation 506 14:13 Differentiating CrowdStreet from True Crowdfunding 15:38 Investor Interest in Multifamily Real Estate 17:15 Product Types that Attract Investors 19:22 Product Types that Lack Investor Interest 21:19 Avoiding Niche and Risky Product Types 23:21 Finding and Vetting Sponsors 26:23 Recovering and Growing in 2024 31:10 Short-Term Goals for CrowdStreet --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
Energy Rights and Power Production, Chris Pawlik @ EPR Squared
May 14 2024
Energy Rights and Power Production, Chris Pawlik @ EPR Squared
Chris Pawlik, co-founder of EPR Squared, explains the concept of energy producing retail realty and how the company offers a sale leaseback of energy rights to property owners. By developing energy rights behind the meter, property owners can decrease operating expenses and increase net operating income. The agreements typically last around seven years, and EPR Squared provides a percentage rent to the property owner based on the revenue generated from the power. The company targets projects with a minimum size of 30,000 to 50,000 square feet, but is also developing an energy rights portal to accommodate smaller projects.   Takeaways EPR Squared offers a sale leaseback of energy rights to property owners, allowing them to decrease operating expenses and increase net operating income.The agreements typically last around seven years, and property owners receive a percentage rent based on the revenue generated from the power.EPR Squared targets projects with a minimum size of 30,000 to 50,000 square feet, but is developing an energy rights portal to accommodate smaller projects.The real estate market conditions, such as interest rates and leasing activity, can impact the adoption of EPR Squared's services. Chapters   00:00 Introduction and Company Overview 00:49 Explanation of EPR Squared 04:02 Sale Leaseback of Energy Rights 05:54 Revenue Sharing Agreement 08:25 Duration of Agreements 09:57 Impact of Real Estate Market on EPR Squared 14:54 Market Potential and Location 17:03 Comparison to Other Financing Options 20:56 Longevity of Solar Equipment 21:08 Customer Acquisition 23:29 Surprises in the Business 28:52 Impact of Real Estate Market on EPR Squared 32:48 Minimum Size for EPR Squared Projects 34:42 Energy Rights Portal --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
The Efficiency of Multi-Family Offices, Jason Mandel @ Mandel Family Office
May 7 2024
The Efficiency of Multi-Family Offices, Jason Mandel @ Mandel Family Office
SummaryIn this conversation, Jason Mandel, CEO of the Mandel Family Office, discusses the basics of family offices and the services they provide. He explains the difference between single family offices and multi-family offices, highlighting the benefits of the latter. Mandel emphasizes the importance of holistic financial advice and the role of a family office in helping families avoid controversy and disintegration. He also discusses philanthropic ambitions, legacy planning, and tax minimization strategies. Additionally, Mandel shares insights on utilizing insurance solutions for wealth management, investment funds and strategies, and concerns and challenges faced by clients. He concludes by discussing client acquisition and referrals. Takeaways Family offices provide holistic financial advice and services to wealthy individuals and families.Multi-family offices offer a range of services and allow clients to share expenses, reducing costs.Family offices can help families avoid controversy and disintegration by providing unbiased advice and structuring solutions.Insurance solutions can be utilized for wealth management, tax minimization, and legacy planning.Investment funds and strategies can be tailored to meet the unique needs and goals of clients.Client acquisition for family offices often comes through referrals from lawyers and accountants. Chapters 00:00 Introduction and Background 01:01 Starting a Family Office 02:39 Single Family Office vs. Multi-Family Office 03:35 Benefits of a Multi-Family Office 06:06 The Importance of Holistic Financial Advice 08:36 Avoiding Controversy and Family Disintegration 09:35 Philanthropic Ambitions and Legacy Planning 11:00 Utilizing Insurance Solutions for Wealth Management 13:05 Tax Minimization Strategies 14:45 Utilizing Life Insurance for Tax-Free Growth 19:36 Investment Funds and Strategies 21:33 Asset-Backed Lending and Tax-Free Retirement Plans 29:46 Concerns and Challenges for Clients --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
Financing Energy Projects for CRE, Chad Blevins @ Repower Holdings
Apr 30 2024
Financing Energy Projects for CRE, Chad Blevins @ Repower Holdings
Chad Blevens from Repower Holdings discusses their unique approach to financing energy improvement projects in commercial real estate. Repower Holdings aims to provide capital for energy improvement projects that are part of larger real estate deals, offering an equity position in the overall asset. This approach aligns the interests of the energy improvement provider and the real estate investor, driving trust and collaboration. The strategy is applicable to various asset classes and regions, with a focus on high energy use intensity and regions with higher energy costs. Repower Holdings plans to start deploying capital in Q1 and expects to have a balanced portfolio across asset classes and regions. Takeaways Repower Holdings provides capital for energy improvement projects in commercial real estate, offering an equity position in the overall asset.Their unique approach aligns the interests of the energy improvement provider and the real estate investor, driving trust and collaboration.The strategy is applicable to various asset classes and regions, with a focus on high energy use intensity and regions with higher energy costs.Repower Holdings plans to start deploying capital in Q1 and expects to have a balanced portfolio across asset classes and regions. Chapters 00:00 Introduction and Overview 00:57 Repower Holdings' Concept and Objectives 03:23 Equity Position in Real Estate Deals 07:10 Repower Holdings' Differentiation 09:32 Partnership with Correlate Energy 10:29 Expanding Financing Options 11:57 Equity Financing vs. PPA Financing 13:23 Focus on Ground-Up Development and Value-Add Projects 16:00 Case Study: Energy Retrofit of a 1970s Vintage Apartment Complex 20:51 Importance of Energy Efficiency in Real Estate 22:16 Energy Efficiency Challenges and Low-Hanging Fruit 24:35 Alignment of Interests and Trust 26:32 Fundraising and Deployment Timeline 28:20 Target Market and Product Types 30:11 Balanced Portfolio Approach 34:04 Long-Term Viability of the Strategy  --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
Urban Infill Development in San Diego, John Allen @ Streamline Development Group
Apr 23 2024
Urban Infill Development in San Diego, John Allen @ Streamline Development Group
In this conversation, Josh Kahr speaks with John Allen, founder and president of Streamline Development Group. They discuss John's unconventional route into real estate development and the focus of Streamline Development on urban infill projects in San Diego. They also explore the high demand for rental properties in San Diego, the presence of national players in the market, and the challenges of finding development sites. John shares insights into the legislative edge that Streamline Development has in shaping upcoming regulations and their plans for future growth and expansion, including a focus on middle-income housing. They also discuss how sometimes historic preservation can be used as a barrier to development, and how their perspective as a local player differs from the national development firms. 00:00 Introduction and Background 03:03 Starting Streamline Development 07:09 Scaling the Business 09:03 Demand for Rental Properties in San Diego 12:52 Local Developers vs. National Players 15:47 Finding Development Sites 18:36 Using Legislative Edge as an Advantage 22:42 Surprises in Recent Transactions 28:47 Future Growth and Expansion 32:21 Focus on Middle-Income Housing --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
From Acquisitions to Asset Management, Roundtable with Montgomery Partners
Apr 16 2024
From Acquisitions to Asset Management, Roundtable with Montgomery Partners
In this interview, Josh Kahr gets to sit down with the whole team at Montgomery Partners and talk about the lifecycle of the asset - from acquisition to fundraising to asset management. They are a long-term value-add investor in the multifamily space. They focus on the B to C class space in markets such as California, Colorado, and Nevada, and are expanding into Utah, Washington, Idaho, and Oregon. The company has a track record of success and a loyal investor base. They are cautiously optimistic about the market in 2024, but are aware of potential challenges such as a recession and increased supply. Montgomery Partners is open to exploring new opportunities, including joint ventures and alternative investment strategies. They are also considering ancillary revenue opportunities such as solar and EV charging. Chapters 00:00 Introduction and Company Overview 03:02 Investment Strategy and Target Markets 08:06 Market Outlook and Potential Challenges 12:12 Operational Challenges and Property Management 15:15 Recent Deals and Surprises 18:06 Market Conditions and Future Plans 25:15 Solar and Electric Vehicles 29:21 Third-Party Property Management 30:30 Cautious Optimism and Future Investments --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
Tax Appeal and Tax Assessments, David Wolfe @ Skoloff and Wolfe
Apr 9 2024
Tax Appeal and Tax Assessments, David Wolfe @ Skoloff and Wolfe
In this conversation, Joshua Kahr speaks with David Wolfe, managing partner at Skoloff and Wolfe (https://www.skoloffwolfe.com/), about tax appeals and property tax assessments. They discuss the challenges property owners face with assessments and revaluations, the importance of understanding assessment ratios, and the deadlines for tax appeals. They also explore the process of tax appeals, including negotiations based on the income approach to value. David shares some surprising cases and challenges in the field of tax appeals and discusses the future plans for the firm. Chapters 00:00 Introduction and Background 03:00 Understanding Property Tax Assessment 06:23 Challenges with Assessments and Revaluations 12:12 Deadlines for Tax Appeals 14:05 The Process of Tax Appeals 20:48 Negotiating Assessments Based on Income Approach 22:21 Dealing with COVID-19 Impact on Assessments 26:31 Contingency-Based Pricing Model 29:31 Surprises and Challenges in Tax Appeals 35:23 Future Plans for the Firm --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
Investing in the Rodeo Region, Brian Wilson @ Bow River Capital
Apr 2 2024
Investing in the Rodeo Region, Brian Wilson @ Bow River Capital
In this conversation, Joshua Kahr speaks with Brian Wilson, Managing Director of Real Estate at Bow River Capital (bowrivercapital.com). They discuss Bow River Capital's investment strategy, regional focus on the "Rodeo Region", and how they find quality operators to partner with. They also explore the current market conditions and the timing of capital deployment. Brian also shares insights on finding and evaluating operators, as well as other interesting investment opportunities in retail and single-tenant net leasing. They conclude by discussing the outlook for 2024 and the importance of considering market fundamentals in investment decisions. Is 2024 the year the equity floodgates finally open? Chapters 00:00 Introduction and Background 01:11 Overview of Bow River Capital 03:18 Investment Strategy and Partnerships 05:45 Regional Focus 07:13 Investment Opportunities in Non-Coastal Cities 08:46 Timing of Capital Deployment 11:36 Market Fundamentals and Supply 13:57 Importance of Partner Selection 16:23 Dual Strategy of Apartments and Industrial 20:13 Market Timing and Fund Deployment 23:49 Finding and Evaluating Operators 25:28 Other Interesting Investments 32:43 Investment Opportunities in Retail and Single-Tenant Net Leasing 35:22 Investment Opportunities in Income Funds and Subordinate Debt 38:06 Outlook for 2024 and Conclusion  --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
UK Investing Modeling as a Service, Alex Wilson @ Pantera
Mar 26 2024
UK Investing Modeling as a Service, Alex Wilson @ Pantera
In this conversation, Joshua Kahr speaks with Alex Wilson, COO of Pantera (www.panteratechnology.com), a financial forecasting and investment modeling platform for the real estate industry. They discuss Pantera's services, market focus, and expansion plans. They also explore the challenges and opportunities in the PropTech space, including the siloed nature of the industry and the role of strategic investors. The conversation highlights the need for modern technology in real estate and the importance of simplifying complex processes. They also touch on the health of the real estate market and how that impacts the investment landscape, linked to the relatively slow adoption rate of technology in the industry. Chapters 00:00 Introduction and Company Background 01:23 Pantera's Services and Value Proposition 04:05 Market Focus and Expansion Plans 05:07 Regional Differences in Real Estate Analysis 07:45 Customer Acquisition and Word of Mouth 10:18 Competition and Excel Integration 13:26 Challenges and Siloed Nature of PropTech 16:11 Funding and Strategic Investors 19:56 Future Vision and Product Development 22:58 Impact of Real Estate Market on Pantera 27:20 Surprises and Challenges in Starting the Business 32:31 Adoption of Technology in Real Estate 33:31 Conclusion and Appreciation  --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
Cost Segregation, Part 2, Kim Lochridge @ Engineered Tax Services
Mar 19 2024
Cost Segregation, Part 2, Kim Lochridge @ Engineered Tax Services
In this conversation, Joshua and Kim discuss energy efficiency tax credits and deductions. They cover the history of these incentives, including the Energy Policy Act of 2005, and focus on two major programs: Section 179D and Section 45L. Section 179D provides a tax deduction for commercial buildings that meet energy efficiency criteria, while Section 45L offers a tax credit for residential units. The conversation explores the eligibility criteria, changes in the tax code, and the impact of these incentives on architects, engineers, and developers. They also touch on the changes brought about by the Inflation Reduction Act, the challenges in qualifying for Energy Star certification, and the future of these tax credits. Additionally, they highlight the involvement of stakeholders in government processes and the complexity of implementing and modifying tax credit rules. IntroductionHistory of Energy Efficiency Tax CreditsSection 179D: Tax Deduction for Energy Efficiency Section45L: Tax Credit for Residential Energy EfficiencyChanges after the Inflation Reduction ActChallenges in Qualifying for Energy Star CertificationSummary of Available Tax CreditsFuture of the Tax CreditsInvolvement in Government and Lobbying EffortsThe Complexity of Government ProcessesOther Tax Credits for Residential PropertiesConclusion --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
Cost Segregation, Part 1, Kim Lochridge @ Engineered Tax Services
Mar 12 2024
Cost Segregation, Part 1, Kim Lochridge @ Engineered Tax Services
In this conversation, Joshua and Kim discuss energy efficiency tax credits and deductions. They cover the history of these incentives, including the Energy Policy Act of 2005, and focus on two major programs: Section 179D and Section 45L. Section 179D provides a tax deduction for commercial buildings that meet energy efficiency criteria, while Section 45L offers a tax credit for residential units. The conversation explores the eligibility criteria, changes in the tax code, and the impact of these incentives on architects, engineers, and developers. They also touch on the changes brought about by the Inflation Reduction Act, the challenges in qualifying for Energy Star certification, and the future of these tax credits. Additionally, they highlight the involvement of stakeholders in government processes and the complexity of implementing and modifying tax credit rules. IntroductionHistory of Energy Efficiency Tax CreditsSection 179D: Tax Deduction for Energy Efficiency Section45L: Tax Credit for Residential Energy EfficiencyChanges after the Inflation Reduction ActChallenges in Qualifying for Energy Star CertificationSummary of Available Tax CreditsFuture of the Tax CreditsInvolvement in Government and Lobbying EffortsThe Complexity of Government ProcessesOther Tax Credits for Residential PropertiesConclusion   --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
Building a Hotel Brand, Ethan Orley @ Oliver Hospitality
Mar 5 2024
Building a Hotel Brand, Ethan Orley @ Oliver Hospitality
In this conversation, Joshua Kahr speaks with Ethan Orley, managing partner at Oliver Hospitality (www.oliverhospitality.com), about his journey in the hospitality business. They discuss the challenges of operational oversight, the current deals and expansion plans of Oliver Hospitality, and the availability of equity and debt in the hotel industry. They also touch on the concept of self-check-in hotels and the future of the industry. Ethan shares insights into the Oliver brand and the types of hotel deals that are most effective for their business. They conclude the conversation by discussing partnership opportunities in the hotel space. Chapters 00:00 Introduction and Background 02:20 Starting the Hospitality Business 04:29 Operational Oversight and Challenges 06:04 Current Deals and Expansion Plans 08:56 Building a Management Company 10:21 Raising Equity and Debt 12:46 The Oliver Brand 16:50 Considerations for Hotel Deals 20:16 Availability of Equity and Debt 23:03 Self-Check-In Hotels 26:27 Becoming a Lender 34:04 Future of Hotels 37:25 Partnership Opportunities 38:01 Closing Remarks   --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry. Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/ Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases