Automated Parking Systems with Chris Tiessen - CRE PN #536
Commercial Real Estate Pro Network
Today, my guest is Christopher Tiessen. Christopher is the president and CEO of Klaus Multi Parking America Inc, Christopher Tiessen spearheads the US sales and operation subsidiary of a global leader in premium parking systems, Clos multi parking, GmbH.
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BIGGEST RISK with Christopher Tiessen
Commercial Real Estate Pro Network
J Darrin Gross I'd like to ask you. Chris Tiessen, what is the BIGGEST RISK? Christopher Tiessen The biggest risk, in my mind, is for our industry, that we're seen as a commodity is as seen as somebody that is not necessary between because before they go into the risk of getting mechanical parking and maybe the system not working, I will just, you know, let the whole project go away and not do the project. So that's our biggest risk that all of our companies in this industry are working against, and also that conventional parking is more attractive still than mechanical parking, even...
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Multifamily Value Add Underwriting with Ashley Garner - CRE PN #535
Commercial Real Estate Pro Network
Today, my guest is Ashley Garner. Ashley is a seasoned real estate entrepreneur and founder of ABG and Associates with over 30 years of experience, he combines analytical rigor and hands on property management to consistently deliver strong, cash flowing returns to his investors. And in just a minute, we're going to speak with Ashley Garner about value add, deal making, real world stories and lessons from transforming underperforming properties into profitable, high yield investments.
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BIGGEST RISK with Ashley Garner
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you, Ashley Garner, what is the BIGGEST RISK? Ashley Garner I think the biggest risk is to be under capitalized and and ultimately, you know, a property can go up in value, or the the P and L can show a profit, but if you don't have enough cash flow to pay the bills or make the repairs that you need to make, or make the improvements you need to make, then you you're in a tight spot, and that puts everything at risk, and that's an avoidable risk to not be under capitalized. But the temptation is so great a lot of times to say, I'm...
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Short Term Rentals Real Estate Investments with Kenny Bedwell - CRE PN #534
Commercial Real Estate Pro Network
Today, my guest is Kenny Bedwell. Kenny Bedwell is a seasoned real estate investor and entrepreneur known for helping high income professionals identify and acquire short term rental properties that generate strong cash flow. And in just a minute, we're going to speak with Kenny Bedwell about short term rentals versus boutique hotels.
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BIGGEST RISK with Kenny Bedwell
Commercial Real Estate Pro Network
J Darrin Gross I'd like to ask you. Kenny Bedwell, what is the BIGGEST RISK? Kenny Bedwell So you know, I the biggest risk. I think that this the answer I was going to give you originally, and I kind of talked about it, so I'll move on from it, but it's regulation. Regulation changes. You're in trouble that is a huge risk to any investment. But the risk that I don't really hear often talked about. In our space is actually safety, guest safety. So I'll give you a stat. This is a real stat by there's a there's a guy Justin Ford, he's a safety expert in a short term rental space, and...
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Pro Storage Commercial Real Estate with Joe Downs - CRE PN #533
Commercial Real Estate Pro Network
Today, my guest is Joe. Downs. Joe is a lifelong entrepreneur with business ventures spanning securities, mortgage, hospitality and real estate industries. He co founded the bell Rose group to pursue opportunities within the niche Self Storage sector of commercial real estate, and in just a minute, we're going to speak with Joe downs about pro storage. What is it and why we need it.
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BIGGEST RISK with Joe Downs
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you, Joe downs, what is the BIGGEST RISK? Joe Downs To me, it's, I'll give you, I'll give you, all right, you just want the biggest I'm gonna go right to base. To me, it's change. It's sort of what I just alluded to, if we were, if, if we still thought, because we weren't out there interviewing and investigating other third party management companies. If we refuse to do all that and just head in the sand, we would probably start falling behind other storage facilities, other competitors, who are managing their facilities better than we...
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Multifamily Leasing Strategy Training Courses with Peter Roisman - CRE PN #532
Commercial Real Estate Pro Network
Today, my guest is Peter Roisman. Peter Roisman is the CO founding principal, President and CEO of REV, the multifamily leasing company, a Houston based venture established in 2019. Under his leadership, REV has become a trailblazer in multifamily leasing management and training, and in just a minute, we're going to speak with Peter Roisman about leveraging data for improved multifamily leasing results.
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BIGGEST RISK with Peter Roisman
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you, Peter Roisman, what is the BIGGEST RISK? Peter Roisman Well, the biggest risk, in my mind, for besides physical property itself, is the occupancy and and and the rental rates. So if you have an underperforming leasing team. And your occupancy drops into the 80s, you know. And at one point, 15% of the properties in Houston were under 85% you're at risk. That is, that is a high risk, too. So in to flip that, to address that risk, you have to be high performing at leasing, which, which means you're not at risk at all. You're lowering...
info_outlineSo, with that, I'd like to ask you, Jason de Bono. What is the BIGGEST RISK?
Jason DeBono 44:22
I think the BIGGEST RISK for a self directed account is that you take responsibility for all the investments, and it's a risk of personal accountability, right? If you keep your IRA in the stock market, one really nice benefit is that when it goes up and goes down, you know, you can kind of finger point your way around around it. Risking in a self directed account means you're taking on all the risk. There is no broker, there's no third party, you know that that's making your investments on your behalf. Now, in a self directed account, you can certainly rely on professionals right. Commercial brokers that can give you guidance and Advice insurance agents that can help you walk through the process. So you can get professional opinions, but at the end of the day, you're the one saying I want to buy that. And so that is your risk that you're inheriting. Obviously, you know, I love your, your example of kind of the three approaches, right? Which is to, to, you know, to look at risk, and understand whether or not we can avoid it, minimize it or transfer it. And I think excuse me, in a self directed account. From an investment standpoint, you can do all three of those things, you know, you can certainly, you know, avoid the risk by buying investments that have less risk, right? You can minimizing it, minimize it by educating yourself, right? So many people look at investing and wonder what went wrong and you know, there's a good saying I rely on all the time and that is the cheapest lesson that you'll ever learn is somebody else's. And you know, we we all learned lots of lessons the hard way and some of those can be very costly in terms of time, energy and money. So when it comes to Investing seeking advice and counsel and knowledge and expertise is is a wise thing to do, literally and figuratively. So you can minimize your risk by investing into what you know and understand it. And then transferring risk, you know, make no mistake, if you move money from stocks and bonds into the real estate market, you're transferring risk, right? you're transferring the risk and exposure in the stock market to the risk and exposure in the real estate market. And that's a personal decision that each and every person that makes that, you know, choice has to look at. And for a lot of our clients, they're reducing risk by moving it right. They're transferring risk from one asset class that they don't know a whole lot about to an asset class that they in most cases know a good deal about. So all of those kind of long answer to a short question. But But without a doubt, if you're going to self direct your account, the risk you're taking on is that you are 100% responsible, NuView will not offer you an investment put you in an investment recommended endorse it, approve it. It's 100% self directed