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BIGGEST RISK with Ben Mandel

Commercial Real Estate Pro Network

Release Date: 06/02/2020

Ultra Wealthy Investment Solutions with Richard Wilson - CREPN # 260  show art Ultra Wealthy Investment Solutions with Richard Wilson - CREPN # 260

Commercial Real Estate Pro Network

Today my guest is Richard C. Wilson. Richard is a third generation Eagle Scout. He's also the founder of the Family Office Club, which has over 2000 registered investors. And his team offers a digital investor platform and sources direct investment opportunities for his 58 investor clients.

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BIGGEST RISK with Richard Wilson show art BIGGEST RISK with Richard Wilson

Commercial Real Estate Pro Network

For my company, even though we have good managing directors, I think the BIGGEST RISK is myself, you know, I'm driving forward a ton of the new content. You know, when I when I hang up here, we're doing a 1000 person webinar. And I've got someone on my team that could do a webinar on many different topics, but not the same topics I could, you know, fluidly and so it's kind of like a key man risk.

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Commercial Real Estate Pro Network

Today my guest is Dr. William "Bill" Danko. He is the co author of The New York Times bestseller, the Millionaire Next Door, and also his newest book, Richer Than a Millionaire.

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Commercial Real Estate Pro Network

I think when people are just so blind to well, for example, in Miami Beach right now. There are a lot of people with very beautiful houses on a flood plain or a rising ocean. And one of the things that they're doing in Miami is raising the roadways and creating culverts to drain off the water. What seemed like a good idea at the time to build a house next to the ocean is, in retrospect, not a very good idea. So sometimes we bring this on ourselves.

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Commercial Real Estate Pro Network

Today my guest is Anthony Scandariato. Anthony is the co founder of Red Knight Properties.  They are a multifamily syndication firm. It's a vertically integrated doing both investing and property management. And in a moment we're going to speak with Anthony about both multifamily and property management more specifically.

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BIGGEST RISK with Anthony Scandariato show art BIGGEST RISK with Anthony Scandariato

Commercial Real Estate Pro Network

the BIGGEST RISK is to me it's always on the buy. So you have to always buy right you have to always run your numbers. You To run a sensitivity analysis, you have to understand, you know, if downside base case and upside, and if the downside scenario still makes sense, then it's a good deal. So the BIGGEST RISK is people not buying right? You know, we always not running these analysis because markets change, and right now they're changing every day.

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Commercial Real Estate Pro Network

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BIGGEST RISK with Alex Fleiss show art BIGGEST RISK with Alex Fleiss

Commercial Real Estate Pro Network

'd say the BIGGEST RISK is the unforeseen risks without a doubt, which obviously is manifest in the COVID-19 Black Swan event or the S&P debt downgrade of the US government in 2011. The unforeseen risks is always always the worst risk, but it's very, it's very hard to worry about risk, you know, because there's, it's almost a it's really endless.

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Commercial Real Estate Pro Network

Today my guest is Omar Khan. Omar is a Chartered Financial Analyst. He's advised on over 3.7 billion of capital financing and merger and acquisition transactions. He's the principal at boardwalk wealth you The syndicated multiple large deals across the US. And in just a minute, we're going to speak with him about raising capital, working with institutional investors.

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BIGGEST RISK with Omar Khan show art BIGGEST RISK with Omar Khan

Commercial Real Estate Pro Network

Not having enough liquidity.  You could have the greatest asset in the world, if you don't have enough liquidity, none of it, you can survive. A lot of times when you're in trouble. All you need to do is run down the clock and survive. And liquidity offers you that, that comfort, or another word, a lot of times, you know, we are humans, when we're put under undue stress, we tend to do things that we would not do when we weren't under stress.

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Ben Mandel, what is the BIGGEST RISK?

Ben Mandel  

Well, the biggest risk actually has two cards. Initially, the biggest one Risk is, as compared to the 1031 exchange, you, you will end up having to pay the tax at some point in the 1031. Exchange if you hold the property until you pass there's no tax ever pay. So that's that's part A of the biggest risk. Part B of the biggest risk is, if you were to pass prior to the note being or the time period being completed on the transaction, then the heirs would have to choose whether or not they wanted to actually leave this open in the estate of the decedent or if they wanted to pay the tax early.

We never suggest leaving it open in the state of Tennessee. The idea with estates usually is that you want to close them as quickly as possible. So those are the two biggest risks that last or risk we utilize, or we recommend to the sellers advisor. If they consider utilizing a survivorship insurance policy to transfer that risk of pre deceased in the 30 years, and having that benefit available to the heirs so that they could choose to just pay the tax when the individuals passed away. Otherwise, the biggest risk is if the if the individuals do not pass, there has to be some sort of plan that would allow them to pay that tax in 30 years.

Theoretically, if you invest your money and you do well, you'll have plenty of money to pay the tax. But what we suggest to the advisors in the event that they do outlive the 30 year period, that they set aside a certain percentage small percentage of the asset or the dollars that they receive into a conservative interest paying account, treasury bonds, municipal bonds, that would help to defer or or assist in paying that tax when it comes to you in 30 years.