He received his Bachelor of Science Degree in Accounting from Michigan State University and a dual Master of Science in Accounting and Master of Business Administration Degree from Loyola University Chicago. Yeah, Im just reading Ray Dalios book, Principles, all about decision making. Awesome. He was responsible for evaluating, analyzing, and reconciling mutual funds, separately managed funds, and Real Estate funds to determine the Net Asset Value daily and to produce client month-end reports. The value of continuing education While there, she was responsible for analyzing insurance risks across the different lines of business, such as Builders Risk, Commercial General Liability and Auto insurance for several owners, general contractors, and subcontractors. Cause you touched on it with me offline, Id like my listeners to hear that. In this role she led cross-functional project teams responsible for reorganization of legacy business functions within the firm. He paved the parking lot. Webinar today at 11AM CT: Join Origin Co-CEO Michael Episcope and Managing Director of Acquisitions Dave Welk for our IncomePlus Fund webinar. Elena serves as Origin Investments assistant general counsel. Click the play button below to listen to my conversation with Michael. He enjoys keeping up with the local music scene and cheering on Minnesota sports. Prior to joining Origin Investments, Katina worked as an analyst at Equity Lifestyle Properties (ELS) where she focused on underwriting RV & MH developments and capital improvement opportunities. Ill take you back a little bit farther maybe than you wanna go Born and raised in the Chicago area. He received his Bachelor degree in Chemistry from Hope College and his JD from Valparaiso University School of Law. His responsibilities include forecasting rent growth, automating ETL processes, and creating analytical models for the needs of our team. Cardone currently owns more than 4,000 multifamily units with a current portfolio value of $350,000,000. Yeah, and it was our second asset in Naperville. The importance of risk management Ken joined Origin in 2018 as an Associate on the Investment Management team. She received her Bachelor of Arts Degree in Communications from the University of Illinois at Urbana-Champaign. He has over 17 years of experience in real estate investing, finance, development and asset management. Michael Episcope: Where I kick myself, as I look back, is I cant believe I didnt do more due diligence, and invested with this guy. Edsel's net worth hovers over $100,000 - $249,999 with a yearly income that's . He was raised in well-settled family background. Join Origin Principal Michael Episcope and Dr. James M. Dahle, M.D., editor, author, and owner of White Coat Investor, on May 20th at. Jonathan is an Assistant Vice President of Investor Relations at Origin Investments where he is responsible for fundraising and business development activities associated with the firms Private Real Estate offerings. There she assisted in all real estate transactions, including Residential and Commercial properties. She also likes to watch Netflix and going out to eat sushi. Collin grew up in Lake Forest, IL which is a northern suburb of Chicago; he joins our Investment Management team as an Analyst. Image: Trae Patton/NBC. Prior to Evolve, he was the Marketing Specialist at Cappex.com, which connects high school students to colleges and universities. When I exited that area in 2005, it was really about taking the next stage, which is how do I protect and preserve, and grow my wealth, and beyond stocks and bonds. It really helped shape my philosophy, and also directed me to Origin, so I wouldnt trade those for anything. Michael Episcope worked as a commodities trader for 15 years while investing passively before deciding to take things a step further and earn a master's degree in real estate. Michael Episcope - $1 Billion in Multifamily and Commercial Real Estate Transactions Ep #225 Michael Episcope - $1 Billion in Multifamily and Commercial Real Estate Transactions Watch Now Listen Now LIFETIME CASH FLOW THROUGH REAL ESTATE INVESTING LIFETIME CASH FLOW THROUGH REAL ESTATE INVESTING Any investments will only be made with proper disclosure and subscription documentation, and subject to all applicable laws. He is an accomplished French horn player, contemporary art collector and competitive recreational cyclist. During her time at White & Case, she represented institutional capital sources and developers in connection with acquisitions, dispositions, financings, leasing, and development of various classes of real property, including multifamily, office, retail, hotels, senior housing, mixed-use projects, and vacant land. She helps her husband . All of our deals have to work well together and in order for us to get paid cumulatively, a fund has to generate more than a 9% return. Rod Khleif: Welcome to another edition of How to Build Lifetime Cash Flow Through Real Estate Investing. Michael Dell's fortune surpassed $50 billion for the first time after his . Interesting. Advertisement In his will, MJ left 40 per cent of his assets to his three children, to be split equally. Isabela still enjoys playing soccer and staying active as well as volunteering, reading and traveling. She is an analytical, creative and strategic thinker who views marketing as the psychology of business. I dont remember why I did this or what happened, but I started doing some internet research. Youre coming in at 33%. If I were outside of this business, I would invest in a fund. Rod Khleif: Its not how much you make, its how much you dont lose. He previously worked at Mark Anthony Brewing where he was responsible for leading the accounts payable process for over 50 vendors relating to co-packers, raw materials and packaging for Mikes Hard and White Claw. Within her 5+ years of real estate paralegal experience, she assisted in maintaining communication with all parties involved within the transaction, contract negotiations, draft closing documents, clear title, prepare leases, complete any municipality and obtain necessary permits. Michael brings 25 years of investment and risk management experience to Origin. Rod Khleif: Guys, just so you heard that, hes in at the third equity instead of the typical agency debt. Rod Khleif: Just let me stop you for a second. For more resources or to connect with us further, please visit our website at rodkhleif.com. Geoff holds a Bachelors degree with a double major in Sociology and English from College of the Holy Cross and a Masters degree in Strategic Marketing and Communications from DePaul University. At the age of 19 years old I got a summer job down at the Chicago Mercantile Exchange and that was between my freshman and sophomore year of college at DePaul. There he coordinated, deployed, and measured lead-generating campaigns and promotions that led to YoY growth in core markets. Market. Its committed that ultimately reverts to invested equity and on the back end, we have a 20% performance fee. The company was founded in 2007 by real estate fund managers Michael Episcope and David Scherer to invest their own money in office buildings and apartment developments in secondary U.S. cities. I think theres a misnomer that funds are more expensive than individual deals, and thats just not true. Some went fine and some that didnt go so well. Michelle is a gamer and enjoys spending her free time playing online video games. We had a deal that we kind of We ended up buying a distressed pool of debt from a bank and it was one of these crazy days when the market was down 800 points, and you know, everything was down. Phil received a Bachelor of Science with a major in Finance from the Wharton School of Business at the University of Pennsylvania. In many ways, we found a deal that really spoke for itself, and we gave it a way, and it was a great market [overlap talk]. She currently resides on the near North side of Chicago, and in her free time she enjoys dropping into the occasional yoga class and lifting weights. Born and raised in Chicago, Ken enjoys traveling, cooking, and cheering on the Cubs, Bears, and Indiana Hoosiers. Additionally, Dave was a member of the Portfolio Management group that oversaw the investment management and strategic direction for two separate account pension fund clients that had a combined asset value of more than $2 billion and comprised over 10 million square foot of multifamily, office, retail and industrial assets throughout the U.S. Michael serves as Origin Investments in-house general counsel. Steve graduated from the University of Iowa in 2020, where he studied Business Administration, Economics, and International Relations. Michael Episcope: Rod, just to back your other point, we talked about fund advantage, one of the nice things, if you have an individual deal, and it goes bad, you cant borrow from another transaction to ride the ship in that deal, cause chances are you have different investors across. Thank you for listening to the Lifetime Cash Flow Through Real Estate Investing Podcast. Education + Add. I would caution people. Michael Episcope: I think thats where a lot of people make the mistake, its looking at, and comparing returns to one another. Michael Episcope: Yeah, especially in assets because were more of a buy-fix-sell strategy where were buying underperforming assets and if we lose a tenant or we have to backfill a tenant, we need to do that. I mean, with an Excel spreadsheet, you can make any deal look great. Her current net worth is $8 million. Michael Episcope: Yeah. . She received her BBA degree in Finance and Management from Florida International University. She was responsible for leading the graphics department with a team of 7, creating all marketing collaterals and unique packaging designs for products including sparkling wine, gin, rum, cognac, and tequila. Kate joined Origin in 2021 after a tenure at Ventas, a S&P 500 company and a leading healthcare REIT. I started hearing things through my friend, and some of the projects that he was involved. Bills experience includes a variety of product types, such as high-density wood frame and high-rise concrete products in markets throughout the country, such as Boston, Southern California, South Florida, the Mid-Atlantic, and the Midwest. We bought an asset in Naperville, Illinois. Prior to Centro, Geoff spent over a decade in marketing for higher education institutions, non-profits, and startups. Understanding capital commitment fees Tom currently resides in Denver with his wife and children, is a cyclist, skier and loves to travel. Before his current role, he served as Vice President of Asset Management for Origin Investments, overseeing the firms portfolio assets. Number 7: Kenneth Tuchman. He was awarded the MSU Evans scholarship for an outstanding caddie record and academic excellence; Graduating from Michigan State in 2019 with a Bachelor of Science and minor in international business. Specialist vs Generalist She managed daily web and monthly print publishing schedules, oversaw operations and interviewed owners and operators around the world. Preceding her most recent experience she was in the Mortgage Servicing Industry at Fay Servicing, Energy Monitoring & Consulting at Mad Dash, Inc. If you get that right, then thats who you really want to put your money with, whether its a syndicate or a fund. In whatever I do, even in my personal life, I only invest in with fund structures because maybe I know a little bit too much about that but if I was looking at individual deals, I would have no clue about how to ascertain one from the other cause its not what I do full-time in any business. But it was, I think, at that time when we were 60% leveraged. She graduated from Marquette University with a Bachelor of Business Administration in Real Estate and Finance and was a member of the Marquette Women's Soccer Team. In that role, Dan facilitated the internal and external movements of custodial accounts to other IRA custodians. Net Worth: Relationship: Kids: Edit this Information. Before his current role, he served as Senior Associate of Investment Management for Origin Investments, overseeing the execution and strategy of the firms assets, as well as an Associate in the Acquisitions group where he closed over $400 million of multifamily and office assets. In her free time, she enjoys cycling, playing sports and any other outdoor activity. Marc holds a Bachelor of Science in Business from the Kelley School of Business at Indiana University. Maria serves as a marketing associate at Origin, working with and supporting all marketing channel owners. Michael is a urologist, while his mom, Isabella, is an anesthesiologist. Dave is directly responsible for investment activities across the firms target markets and collaborating with the Investment Committee to shape the firms investment strategy. Aaron studied Political Science and Economics at Emory University in Atlanta, GA. A business plan generally takes anywhere from 18 to 36 months, and instead of generating 7%, a stabilized asset, maybe well generate 12% in two years and well get some level of appreciation. Victoria graduated from St. Olaf College where she received a Bachelor of Arts in Economics with an emphasis in Finance. He worked closely with the Acquisitions team to build the foundation of Origin Multilytics. Scott explains that with commercial real estate, the value is based upon the net operating income . The other thing that I learned is that its a heck of a lot more complex than what people realize. He also enjoys performing sketch and improv comedy at the Second City. Everybodys gonna look great in an interview, and this and that. He is a runner, frequent traveler, amateur tennis player, and beach/pool enthusiast. He received a Bachelor of Business Administration with a major in Real Estate and Urban Land Economics from the University of Wisconsin, Madison. Before his current role, he served as an acquisitions senior associate, overseeing the underwriting and due diligence of all deals being pursued, where he closed in excess of $500 million of multifamily and office assets. I saw the impact that a good real estate Proper real estate investing could make. 242 S. Washington Blvd Suite 319Sarasota, FL 34236. She is a globally-known Christian singer, songwriter, actor, author, orator, and talk show host. Some things he enjoys in his spare time are playing golf, spending time outdoors, skiing in the winter and heading to the lake in the summertime, as well as, cheering on Marquettes basketball team. Why funds vs syndications She joined Origin in early 2017 after spending nearly a decade at Morningstar, Inc., a leading provider of independent investment research. 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