Commercial Real Estate Financing Options with George Otel - CRE PN #520
Commercial Real Estate Pro Network
Today, my guest is George Otel. George is the seasoned entrepreneur with over 10 years of experience in real estate and finance, and in just a minute, we're going to speak with George Otel about business finance.
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BIGGEST RISK with George Otel
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you, George Otel, what is the BIGGEST RISK? George Otel The biggest risk when it comes to funding, is not looking for funding early enough, because the biggest risk is when people call me that they need funding yesterday. So it's I tell people you always have to look for funding, even if you don't need it, because when you need it, you may not find it where you may be. Tweaks. Expensive because of your situation. Let's say you got to look for funding when you're doing good, when you're doing great, because the lenders see less risk in...
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Virtual Assistants for Real Estate Focused Businesses with Pete Neubig - CRE PN #519
Commercial Real Estate Pro Network
Today, my guest is Pete Neubig. Pete is the co founder and CEO of VPM solutions, and in just a minute, we're going to speak with Pete Neubig about the Benefits of Hiring a Remote Team.
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BIGGEST RISK with Pete Neubig
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you. Pete Neubig, what is the BIGGEST RISK? Pete Neubig So the biggest risk for VPM, well, I would say for us, the biggest risk is, at the end of the day, we're a payment processor, okay? You know, even though we have all these whistles and bells where you have this marketplace and you have these searches and you have this training, you have this video, if I can't pay people, I'm out of business. And so my biggest risk is that we are connected to stripe, and if stripe decides to cancel or go belly up. You know that I cannot process...
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Interior Design Space Planning for Multifamily Housing with Marcy Sagel - CRE PN #518
Commercial Real Estate Pro Network
Today, my guest is Marcy Sagel. She's the founder and principal of MSA interiors, with over 30 years of experience shaping multifamily housing, student living and senior housing and more. And in just a minute, we're going to speak with Marcy Sagel about From Blueprints to Brilliance, designing multi family spaces that rent.
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BIGGEST RISK with Marcy Sagel
Commercial Real Estate Pro Network
J Darrin Gross I'd like to ask you, Marcy Sagel, what is the BIGGEST RISK? Marcy Sagel I'm going to answer that in a few parts, because there's different aspects of the job that can be different risks. So when we pick materials for a project, we have to make sure we're working with tried and true materials, okay, materials that are not going to fail on a job, for instance, in the units, if we select a, you know, vinyl plank flooring, we want to make sure it's going to last. So we only work with manufacturers that we know are going to give us a solid product, not we're not trying to test...
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Workforce Housing Community Development with Lissette Calderon - CRE PN #517
Commercial Real Estate Pro Network
Today, my guest is Lissette Calderon. Lissette is the founder and CEO of Neology Group, a vertically integrated, lifestyle driven residential and commercial real estate firm that specializes in transforming undervalued neighborhoods into sought after communities, and in just a minute, we're going to speak with Lissette Calderon about solving for housing's greatest need, a focus on workforce communities.
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BIGGEST RISK with Lissette Calderon
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you. Lissette Calderon, What is the BIGGEST RISK? Lissette Calderon Well, I think in today's world, probably the biggest risk you have is uncertainty. And how do you underwrite uncertainty? You know what happens next? How do you underwrite whether it's Harris insurance numbers, construction costs, what does that uncertainly look like, and what, how do you underwrite that? So, you know, how do we do it? You know, we really can't avoid it because, you know, we're developers. So of course, our job is, you know, we really think about a how...
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Commercial Real Estate Career Success Skills with Allen Buchanan - CRE PN #516
Commercial Real Estate Pro Network
Today, my guest is Allen Buchanan. Allen Buchanan is an S, I, O, R, and is a nationally recognized commercial real estate broker, columnist, speaker and creator of the sequence success framework. He's also a principal at Lee and Associates in Orange County, California, and in just a minute, we're going to speak with Allen Buchanan about building a successful career in commercial real estate.
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BIGGEST RISK with Allen Buchanan
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you. Allen Buchanan, What is the BIGGEST RISK? Allen Buchanan Darrin, for me, the BIGGEST RISK is relevance. And I use this in a micro sense, in a macro sense. The micro sense is, I'm 68 years old, and so I realized that I'm on the back nine, maybe the last three holes of my career. And so maintaining relevance with those with whom I deal, first and foremost, family members, clients, friends, etc, there's then a relevance in terms of the commercial real estate profession. I know you've had guests on your podcast that specialize in...
info_outlineWow, I'm so glad you shared that because I settled three lawsuits. You know, just in the last quarter of 2019. So it's very fresh in my mind. And actually, one lawsuit was going on for about two and a half years. Nothing major, but it was major in the sense that something happened with one of my contractors on one of my property. And I'm so glad that I have had full coverage, you know. And they said you settle the issue for almost like seven hundred some thousand dollars. And I didn't have to pay a penny.
Another thing, you know, Darrin, my fire happened, you know. Right there in Atlanta property and that was a fire. I had a twenty thousand dollar deductible only, and that settled for two point three million dollars just to let you all know. But it was only possible because of people like Darrin, you know, who were able to sit down with me and make sure that we get the proper insurance.
I got hacked also in 2017 lost $250,000. And guess what? I did not have the Cyber Insurance. And that got me hurt. And, you know, I never looked back. I always look forward and say, what can I do today to make myself better? And that's OK. But now I'm fully taken care of by my I.T., Cyber Security and Insurance and everything. So the key thing is I think insurance plays a very important role.
I had another lawsuit with the, you know, firing somebody and they said it's racial discrimination firing. So these are very important issues. You've got to make sure you've got great attorneys, first of all, who are with you, dealing with you, looking at your contracts and everything. I'm very happy to say I didn't have to pay much again. You know, it could have been millions of dollars of lawsuit. But by hiring the right people and having the right insurance companies and all that, it helps a lot.