Industrial Outdoor Storage Investment Strategy with Blake Rodgers - CRE PN #521
Commercial Real Estate Pro Network
Today, my guest is Blake Rogers. Blake Rogers is the co founder at Steel Peak Properties. Steel Peak is a Southern California based real estate investment firm focused on acquiring and improving industrial outdoor storage assets throughout the western US, and in just a minute, we're going to speak with Blake Rogers about outdoor storage properties.
info_outline
BIGGEST RISK with Blake Rogers
Commercial Real Estate Pro Network
J Darrin Gross I'd like to ask you. Blake Rogers, What is the BIGGEST RISK? Blake Rodgers Sure. So I think in in our space, we say this all the time to to our investors, because they ask us this question as well, what? What's, what do you think the biggest risk is here, guys with this asset class? For us, it's really, since we're buying single tenant deals. I think it's the single tenant nature of these deals. We're buying vacant sites a lot of the time. So the risk for us is you either lease it or you don't, and you either do it in the amount of time that you said you would or you...
info_outline
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.
info_outline
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...
info_outline
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.
info_outline
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...
info_outline
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.
info_outline
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...
info_outline
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.
info_outline
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...
info_outlineBen 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.