The Best Ever CRE Show

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JF3390: Adapting to Change: Jordan Moorhead's Evolution from Multifamily Properties to Mobile Home Investing Dec 16, 2023

Show notes

On this episode, Joe Cornwell interviews Jordan Moorhead, a real estate investor who has transitioned from multifamily properties to mobile home parks for better scalability and lower maintenance. Morehead also runs a real estate business with a focus on house hacking, emphasizing adaptability and strategic partnerships in real estate investing.

Key Takeaways -

Investment Strategy Evolution: Jordan Morehead transitioned from focusing on small multifamily deals to investing in single-family homes, and most recently, to mobile home parks.
Scalability and Maintenance: He emphasizes the scalability and reduced maintenance of mobile home parks compared to single-family homes.
Real Estate Agent Business: Morehead operates a real estate agent business, specializing in assisting clients with house hacking strategies.
Importance of Adaptability: The episode highlights the need for adaptability in real estate investing, adapting strategies to market conditions and personal growth.

Jordan Moorhead | Real Estate Background

The Moorhead Team
Based in: Austin, TX
Say hi to him at:
- Instagram
- Twitter
Best Ever Book: Cashflow Quadrant by Robert Kiyosaki
Greatest Lesson: Buying without proper due diligence.

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JF3389: How to Create Opportunity with World-Class Operations ft. Ashley Wilson Dec 15, 2023

Show notes

Ashley Wilson, CEO of Bar Down Investments, covers a wide variety of topics and challenges facing today’s real estate investors. She discusses the current market conditions and the challenges her team is facing in evaluating property values. Ashley shares the types of value-add deals they are looking for, including distressed properties and unfinished projects with insights into the losses experienced by developers in the current market.

She also shares her insights on preparing for the impact of COVID-19 and gives recommendations for giving back and learning from investment mistakes.

Key Takeaways:

Operations is Everything: In a downturn, when interest rates and costs are rising fast, the only thing you can fall back on is solid operations. Ashley shares the strategies and safeguards her team has in place to protect their deals and their investors when times get tough.
Relationships Are Key in Commercial Real Estate: Ashley emphasizes that commercial real estate is a highly relationship-based industry. Building strong rapport with brokers, investors, and other stakeholders is paramount to gain a competitive edge.
Adaptability and Forward Thinking: Ashley's experiences during the COVID-19 pandemic demonstrate the significance of adaptability and forward thinking in real estate. She outlines the steps her team took before the pandemic hit, which allowed them to thrive when others struggled. Planning for multiple scenarios and being prepared for unexpected market shifts is crucial.
Value-Add Strategies and Community Building: Ashley discusses her approach to value-add investments, focusing on existing properties. Her strategy extends beyond cosmetic enhancements, encompassing operational improvements, safety measures, and community engagement. By making investments that benefit both tenants and the local community, investors can create long-term value and goodwill.

Ashley Wilson | Real Estate Background

CEO of Bar Down Investments
Portfolio:
- Multifamily properties
Based in: Newtown Square, PA
Say hi to her at:
Best Ever Book: Rich Dad, Poor Dad by Robert Kiyosaki
Greatest Lesson: Not everyone analyzes deals the same way, and that’s okay. Not every deal has to fit in your perfect little box.

Check out Ashley’s previous episode: 2377 - Raising Occupancy and Avoiding Skips during Covid with Ashley Wilson

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JF3388: The Milk Bucket Strategy | Passive Investor Tips ft. Travis Watts Dec 14, 2023

Show notes

Passive Investor Tips is a weekly series hosted by full-time passive investor and Best Ever Show host, Travis Watts. In each bite-sized episode, Travis breaks down passive investor topics, simplifying the philosophy and mindset while providing tactical, valuable information on how to be a passive investor.

In this episode, Travis shares the story of one investor who is sharing his wisdom about passive investing with his friends and family by teaching them the milk bucket strategy - a reliable and approachable way to learn about and automate passive investing to create financial freedom.

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JF3387: Inside Congress’s Attack on Institutional Investors ft. Logan Freeman Dec 13, 2023

Show notes

Welcome the the Best Ever midweek news brief, a new series where we will highlight the top headlines CRE investors should be paying attention to this week, followed by a deep dive on a larger news topic or trend alongside a CRE expert.

Today’s Headlines

Six Interest Rate Cuts in 2024? A recent report from ING Economics predicts that federal interest rates will likely be cut six times in 2024. That’s a bold prediction based on what we’ve seen in 2023. The report cites three key factors: a labor market that it intentionally describes as “cooling, not collapsing,” a gradual easing of inflationary pressures, and — even though spending is still strong — the outlook points to financial pressure hitting millions of households, and soon, which should curb spending and slow overall economic activity.

Midwest Corners Market on Apartment Competition: In RentCafe’s 2023 Year-End Report, the company broke down the U.S. rental markets based on competition. And while Miami was the nation’s hottest rental market, the Midwest was the clear winner, with three cities in the top 5 and 10 of the top 30 most competitive rental markets in the U.S. for 2023.

Today’s Guest: Logan Freeman, co-founder and principal at FTW Investments, joins Paul Mueller to discuss two recent bills proposed in Congress targeting institutional investors that would reduce their ability to own single-family homes. The first — called the End Hedge Fund Control of American Homes Act — would impose tax penalties that would force big investors to sell off the single-family homes they own over a 10-year period, effectively banning them from owning them entirely. A second bill titled the American Neighborhoods Protection Act was also introduced, and this bill would require corporate owners of more than 75 single-family homes to pay an annual fee of $10,000 per home into a housing trust fund to be used as down payment assistance for families.

Key Takeaways:

The title of the first bill may refer to hedge funds, but the definition within the bill says that it would target any applicable entity that “manages funds pooled from investors,” which encompasses a large swath of commercial funds and businesses.
Should these bills pass, mobile home parks could be significantly impacted by institutional investors shifting their focus. As investors move out of single-family rentals and into multifamily properties and mobile home parks in an attempt to profit from the affordability crisis, rental rates for manufactured and small homes in these parks may rise sharply. This could benefit park owners but exacerbate the affordability crisis for renters living in mobile homes, who may struggle with rising housing costs.
These Democrat-led bills are unlikely to pass in a Republican-controlled house; however, these bills (and those that have come before them) are an indication of what Congress is thinking about. So even if these bills don’t pass — and if Congress decides not to entertain the myriad of potential alternatives that could help with affordable housing — future attacks on real estate investors, institutional or otherwise, could be in coming down the pike.

Logan Freeman | Real Estate Background

Co-founder and chief development officer of FTW Investments LLC, where their strategy involves acquiring, operating, and the eventual disposition of large-scale commercial real estate assets in key sectors and markets.
Previous episodes:
Portfolio: GP of 1,500 multifamily units across four states, plus 600,000 sq. ft. in the office, industrial, and retail sectors.
Based in: Kansas City, MO
Say hi to him at:

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JF3386: Iven Vian - Strategies for Proactive Asset Management with the Apartment Ninja Warrior Dec 12, 2023

Show notes

Iven Vian, the Apartment Ninja Warrior with an 800+ unit portfolio, shares his wisdom about the importance of proactive asset management, being in alignment with your property management company, and facing the realities of real estate investment.

Key Takeaways:

Shift from Reactive to Proactive Management: Ivan highlights the critical importance of understanding how today's decisions impact the property's future, focusing on mitigating risks, and maximizing long-term profitability.
The Business Mindset in Real Estate: Iven stresses that owning commercial real estate is not just about property ownership; it's about running a business. He dispels the myth that investing in real estate is a passive endeavor, highlighting the necessity of aligning ownership goals and involving property management companies as integral parts of the business strategy.
Closing the Gap Between Expectations and Reality: Iven calls for transparency and realism in the industry, advocating for a more seamless transition from underwriting to property management. He believes in addressing misalignment in ownership teams, setting clear priorities, and ensuring all stakeholders have a deep understanding of the operational aspects of a property investment.

Iven Vian | Real Estate Background

Owner of Apartment Ninja Warriors
Portfolio:
- 880 doors
Based in: Oklahoma City, OK
Say hi to him at:
Best Ever Book: Think and Grow Rich by Napoleon Hill
Greatest Lesson: If you're doing this as a GP or operator, you have to approach real estate as a business and treat it like one.

Check out Iven’s previous episode: 2702 - 4 Ways to Balance a Full-Time Job with Multifamily Investing

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JF3385: 3 Ways to Reduce Expenses on Multifamily Properties ft. Matt Picheny Dec 11, 2023

Show notes

Matt Picheny, a real estate investor and coach with a portfolio of over 4,500 multifamily units, shares his strategies for navigating around increasing expenses, including evaluating your budget for potential savings, creating additional income where possible, and contesting property taxes when appropriate.

Key Takeaways:

Expense Reduction Strategies: Matt emphasizes the importance of scrutinizing every line item in the financials, questioning vendor relationships, and seeking opportunities to reduce expenses. He highlights negotiating insurance and taxes, renegotiating contracts, and in-house hiring for specific trades as effective methods to cut costs.
Property Tax Contesting: Matt shares his experience with contesting property tax increases, emphasizing that it's an ongoing process. He discusses the alignment of interest with consulting firms that work on a contingency basis, ensuring that they only take on projects where savings are achievable.
Acquisitions in the Current Market: Matt outlines his acquisition strategies for the current market, focusing on properties where he can assume seller debt and secure favorable financing terms. He also discusses the potential of new construction deals with advantageous financing, presenting them as the ultimate value-add opportunities.

Matt Picheny | Real Estate Background

Real Estate Investor & Coach
Portfolio:
- 4,500+ multifamily units as a GP
- 7,000+ units as an LP
Based in: Brooklyn, NY
Say hi to him at:
- picheny.com
Best Ever Book: Principles by Ray Dalio
Greatest Lesson: I should have bought rate caps on several deals as opposed to using variable rate debt.

Check out Matt’s previous episode: 2679 - 5 Tips for Transitioning from LP to GP

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JF3384: The Formula for Simple and Profitable Land Flipping ft. Mike Deaton Dec 10, 2023

Show notes

Mike Deaton, founder of Flipping Dirt and Deaton Equity Partners, sheds light on the world of land flipping. His simple buy low, sell high strategy requires very little time and energy, and results in major profits.

Key Takeaways

The Formula for Simple Land Flipping: There are a variety of business models when it comes to land flipping. Mike’s strategy consists of buying properties significantly under market value, doing nothing to them, remarketing them, and selling them within 4 weeks for a hefty profit. There are very few outside parties and logistics involved.
Marketing Tips for Land Deals: Mike shares his techniques for marketing and selling land properties quickly. He talks about the websites and platforms he uses to list properties, how and when he works with realtors, and how he approaches conversations with buyers.
The Tax Advantages of Multifamily: After seeing such success with land flipping, Mike’s tax bill was less than ideal. He decided to diversify his portfolio by investing in multifamily to take advantage of the tax and depreciation benefits that asset class brings. Now, his tax bill is near zero.

Mike Deaton | Real Estate Background

Founder of Flipping Dirt and Deaton Equity Partners
Portfolio:
- $1M in land holdings
- 1,000 multifamily units
Based in: Woodland Park, CO
Say hi to him at:
- flippingdirt.us
- cashflowfightclub.com
Best Ever Book: Mindset by Carol Dweck
Greatest Lesson: the current financial environment is providing tons of learning

Check out Mike’s previous episode: 2710 - 4 Strategies to Scale as a Multifamily Syndicator

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JF3383: 15 Deals in 15 Months: How to Build a 600-Unit Multifamily Portfolio ft. Ross McArthur Dec 09, 2023

Show notes

Ross McArthur, co-founder of Follow the Deal Investments, shares his journey in CRE investing, from being terrified to invest in a four-unit property in 2020 to closing 15 deals in 15 months to establish a 600 unit portfolio today.

Key Takeaways

Treating Real Estate Like a Business: Even if investing is just a side hustle for you, treat it like a business, not a hobby. This means organizing your operations, setting up dedicated email accounts, and implementing proper accounting and tracking software from day one.
Strategic Team Building: The key to building a great team is hiring where you’re weak. You don’t have to hire a full team at 40 hours a week right away. Ross shares the transformative impact that hiring a part-time CFO and partnering with a real estate-focused CPA has had on his business and overall bottom line.
The Power of Cash Out Refinancing and Local Banks: Ross increased his portfolio by 100 units in 12 months by utilizing the cash out refinance method and building relationships with local banks who gave him favorable financing terms. In today’s environment, having a good relationship with your local credit union may make the difference in getting a deal done or not.
Applying a Sales Process to Your Investing Business: Ross has developed relationships with several key brokers in his market. He calls each of them several times a month to review their pipeline, analyzing new deals and returning to ones he may have passed on previously. This gives a steady pipeline of deals to underwrite and off-market access to potential properties.

Ross McArthur | Real Estate Background

Follow the Deal Investments
Portfolio:
- Multiple multifamily properties in Indiana
Based in: Indiana
Say hi to him at:
- LinkedIn
- followthedeal.com
Best Ever Book: The Decision by Kevin Hart
Greatest Lesson: You have to treat real estate investing like a business, not a side hobby. And that means having some form of accounting and tracking software, having a specific email set up, basic things to keep yourself organized like a business.

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JF3382: Corey Peterson - Scaling Success, Copying Your Way to Wealth, and Thriving Through Challenges Dec 08, 2023

Show notes

Commercial real estate expert Corey Peterson shares his journey of becoming a master of scaling in the multifamily industry. He reveals valuable insights and strategies for success, emphasizing the importance of curiosity and learning from others. Corey discusses various aspects of commercial real estate investing, from engaging with investors to navigating challenges like rising interest rates.

Key Takeaways

The Power of Curiosity and Learning: Corey emphasizes the significance of asking questions and seeking advice from experienced individuals in the field. Being a master copier, he advocates for continuous learning and staying humble, as it's crucial for growth and success in commercial real estate.
Effective Investor Engagement: Corey shares his approach to working with investors, highlighting that many are more interested in the operator's track record than chasing high returns. He stresses the importance of quantifying your pitch deck and demonstrating clear value to potential investors.
Navigating Market Challenges: Corey provides valuable insights on dealing with challenges like rising interest rates and handling distressed assets. He encourages open communication with lenders, getting lean during tough times, and being prepared for potential capital calls to weather market fluctuations.

Corey Peterson | Real Estate Background

CEO and Founder of Kahuna Investments
Portfolio:
- 3,000 units/beds valued at over $250 million
Based in: Chandler, AZ
Say hi to him at:
- kahunainvestments.com
- LinkedIn
Greatest Lesson: Become a master copier of those you admire and want to follow.

Past episodes featuring Corey Peterson - JF3240, JF1631

Don't forget to grab Corey's latest book, Trust But Verify: The Passive Investor's Guide to Evaluating Real Estate Syndicators by texting "trust" to 480-500-1127 for a comprehensive guide to vetting syndicators and making informed investment decisions.

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JF3381: Passive Income Equals More Options | Passive Investor Tips ft. Travis Watts Dec 07, 2023

Show notes

On this episode of Passive Investor Tips, Travis Watts shares his journey from a dangerous oil and gas job to a safer, fulfilling career through passive income investments. His story illustrates how passive income can provide more life options and freedom, emphasizing its importance for a better work-life balance.

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