Invest Florida - A Real Estate Podcast

EP. 224 San Eng: Central Florida Multifamily Market

50m · Published 22 Mar 09:00

It's no secret that the Florida real estate market is red hot. But how long can it last? And how will the $1.9T stimulus affect the market over the next 6 months - 2 years? Today we are joined by San Eng, CEO of Skytian Capital, who gives us his perspective on the central Florida multifamily market, with a focus on B and C class properties.

San Eng is a Wall Street Journal & USA Today best-selling author of "The Ten Commandments of Investing", which is a collection of guiding principles from the greatest investors in history.

EP. 223 Casey Siggins: Florida Debt Market Update

36m · Published 08 Mar 10:00

Over the last year there have been a lot of changes in the Florida debt market due to the COVID pandemic, and the distress in the market is having a real affect. Today we talk with Casey Siggins who gives an overview of the various asset classes and what the debt market is doing in each of these.

Key Discussion Points

[01:10] Opening remarks by Eric Odum and Steven Silverman

[04:42] About our guest: Casey Siggins

[06:27] Give us a high level view of the markets right now and the underwriting situation

[10:58] Give us an overview of the distress in the market right now (retail, hospitality, multifamily, industrial, office)

[18:29] Overview of the larger lendors and how they've changed over the last year

[22:28] Quick discussion of non-recourse loans

[23:14] What is going on in the equity markets?

[25:23] Give us an overview of some of the niche markets

[28:06] Are there any areas in Florida or asset classes where lenders are hesitant or won't touch

[30:43] Tell us about how your firm, Franklin Street Capital Advisory, can help investors/borrows find the capital they need

[33:14] How can folks contact you?

About Our Guest

Casey Siggins specializes in the origination and placement of debt and equity financing for all commercial real estate product types. Casey and his team have closed nearly 1 billion worth of debt and equity transactions. He is the co-head of Franklin Street's capital advisory vertical.

CONTACT INFO

Website: https://franklinst.com/

Email: [email protected]

EP. 222 Jeff Rosenfeld: Multifamily Construction Update

38m · Published 22 Feb 10:00

Today we get an update on Florida multifamily construction from our guest, Jeff Rosenfeld, Executive Vice President of Adivo Construction. Florida has had a lot of disruption in the last couple years with things such as tariffs and COVID. Recently, Florida has seen a mass influx of new residents looking for multifamily housing, but there is currently a shortage of skilled construction labor. We talk about how this is affecting multifamily construction costs and discuss how some investors are re-purposing various assets such as hostels and commercial loft space into multifamily housing (commonly called adaptive reuse).

Key Discussion Points

[01:07] Opening remarks by Eric Odum and Steven Silverman

[06:08] About our guest: Jeff Rosenfeld

[06:59] Give us an overview of Florida Multifamily market

[10:15] What's been going on with multifamily construction costs in the last few years and since COVID?

[11:53] What's the outlook on multifamily construction costs?

[13:26] With COVID as a disruptor, tell us about adaptive reuse (converting hotels / commercial loft space into multifamily)

[15:05] What areas of Florida are you seeing the most adpative reuse / repurposing of assets into multifamily?

[18:08] Is some of this asset repurposing going towards workforce housing?

[20:22] Tell us about the construction labor force situation in Florida

[25:08] How is construction adapting to low labor force?

[27:45] How would you compare the Florida markets vs the other markets around the country you work in?

[29:47] What types of value-add are you doing to improve your properties?

[35:48] How can folks contact you?

About Our Guest

Jeff Rosenfeld is Executive Vice President and founding partner of Adivo Construction based in Deer Field Beach, Florida.

CONTACT INFO

Website: https://www.adivoconstruction.com/

Toll Free Number: 833-825-2425

EP. 221 Charles Carillo: Multifamily Investing & Syndication

40m · Published 08 Feb 10:00

Today we talk with Charles Carillo, founder and managing partner of Harborside Partners Inc., about all things multifamily. This episode is packed with great information that both new and seasoned real estate investors will appreciate such as pitfalls to avoid when investing, advice for new multifamily investors, cap rates, and what the future holds for multifamily real estate. You won't want to miss this episode!

Key Discussion Points

[01:04] Opening remarks by Eric Odum and Steven Silverman

[03:51] About our guest: Charles Carillo

[04:22] Give us an overview of how and why you got into multifamily

[06:43] What are you seeing in Florida (such as cap rates) that might be affecting the market now and going foward?

[09:32] What cap rates are you seeing that people are willing to pay?

[13:38] What are some pitfals to avoid and advice for new multifamily investors?

[17:31] How do you manage your maintenance issues at your properties?

[26:48] For those thinking about investing in real estate, how can you help each other?

[28:40] How do you deal with debt? Traditional bank? Agency debt?

[30:38] How are you finding / sourcing your deals?

[33:23] What are you currently working on (i.e with investors, etc...)

[36:41] How can folks contact you?

[37:46] Closing comments by Eric & Steven

BIO

Charles Carillo is the founder and managing partner of Harborside Partners Inc., a real estate syndication firm based in St. Petersburg, FL. Charles has been actively investing in multifamily real estate since 2006. He also hosts the Global Investors Podcast, where he interviews professionals about investing in U.S. real estate.

CONTACT INFO

Website: schedulecharles.com
Note: All social media contact links are on schedulecharles.com

EP. 220 Jason Schaller: Multifamily Syndication

40m · Published 25 Jan 10:00

Today we talk with Jason Schaller, founder of the Schaller Group in Winter Park FL, about multifamily syndication in the central Florida market. Jason spent a lifetime learning construction, redevelopment, due diligence, inspection, marketing, and branding, and he has now put all that knowledge to work with his own company, The Schaller Group, which syndicates multifamily investments and provides outside consulting and advisory services for owners and investors nationally.

Key Discussion Points

[01:03] Opening remarks by Eric Odum and Steven Silverman
[05:24] About our guest: Jason Schaller
[11:44] For your syndications, are you looking specifically in the Winter Park Orlando market or are you looking anywhere?
[12:44] With multifamily being a tight market, how are you finding your deals?
[14:07] Are you still doing consulting on refits and remodels...people wanting to purchase?
[14:41] Do you do any ground-up development?
[15:43] Is it even possible to build Workforce Housing in this market?
[18:02] What does your financing look like on these development deals? Do you go through bank financing? Freddie Mac?
[18:58] How do you handle student housing vs workforce housing or traditional class B apartments
[21:32] Where do you see cap rates headed?
[27:24] How do you structure your syndications?
[29:38] Do you use someone locally to do your syndication packages?
[31:11] What is your strategy for branding and reworking properties to add value for investors?
[36:41] How can folks contact you?
[37:46] Closing comments by Eric & Steven

About our guest:

Jason Schaller is founder of the Schaller Group, based in Winter Park, FL. The Schaller Group is a forward-thinking design, construction and real estate company focused on the redevelopment of Multifamily, Hospitality and Commercial assets. The Schaller Group syndicates multifamily investments and provides outside consulting and advisory services relating to design, construction, due-diligence, marketing, branding, sales and asset management for owners and investors nationally.

CONTACT INFO

Phone number: 313.670.9020
Website: https://www.theschallergroup.com/
LinkedIn: Jason Schaller

EP. 219 Andrew LaSalla II: Multifamily Construction Loans

20m · Published 11 Jan 10:00

Even before the COVID crisis, Florida had a strong natural growth which as driven up real estate prices. Now during COVID, that growth is intensifying as people are fleeing intensely populated metropolitan areas from other states and flocking to Florida. Financing is therefore, playing a more and more important role, and with current rates so low, we can expect a lot of new construction to fill the demand.

Today we talk with Andrew LaSalla II, Principal with LSG Lending Advisors, about the process for someone to move forward on a multifamily construction deal, specifically the HUD 221(d)(4) new construction & substantial rehabilitation loan for multifamily properties.

Key Discussion Points
[01:05] Opening remarks by Eric Odum and Steven Silverman
[05:00] About our guest: Andrew LaSalla II
[05:54] Give us an overview of what's going on in the agency market right now
[07:21] What is the criteria to do one of these loans?
[08:38] What does the structure of the HUD 221 (d)(4) loan look like?
[09:36] What is the timeframe for these loan deals?
[10:04] How should people best position themselves to get one of these HUD construction loans?
[12:40] For a standard $15M loan on a multifamily investment, what does that structure look like (Fannie or Freddie)
[15:17] At what stage should someone get involved with you when they're looking to finance?
[16:28] How can folks contact you if they want to refinance or get inolved with new construction?
[17:39] Closing comments by Eric & Steven

BIO
Andrew LaSalla II is a Principal at LSG Lending Advisors. Andrew guides clients in navigating the loan process in a simple, transparent manner, so that the loans close at the lowest rates and the best terms.

CONTACT INFO
Cell: 216-645-9816
Email: [email protected]
Website: lsglendingadvisors.com

EP. 219 Andrew LaSalla II: Multifamily Construction Loans

20m · Published 11 Jan 10:00

Even before the COVID crisis, Florida had a strong natural growth which as driven up real estate prices. Now during COVID, that growth is intensifying as people are fleeing intensely populated metropolitan areas from other states and flocking to Florida. Financing is therefore, playing a more and more important role, and with current rates so low, we can expect a lot of new construction to fill the demand.

Today we talk with Andrew LaSalla II, Principal with LSG Lending Advisors, about the process for someone to move forward on a multifamily construction deal, specifically the HUD 221(d)(4) new construction & substantial rehabilitation loan for multifamily properties.

Key Discussion Points
[01:05] Opening remarks by Eric Odum and Steven Silverman
[05:00] About our guest: Andrew LaSalla II
[05:54] Give us an overview of what's going on in the agency market right now
[07:21] What is the criteria to do one of these loans?
[08:38] What does the structure of the HUD 221 (d)(4) loan look like?
[09:36] What is the timeframe for these loan deals?
[10:04] How should people best position themselves to get one of these HUD construction loans?
[12:40] For a standard $15M loan on a multifamily investment, what does that structure look like (Fannie or Freddie)
[15:17] At what stage should someone get involved with you when they're looking to finance?
[16:28] How can folks contact you if they want to refinance or get inolved with new construction?
[17:39] Closing comments by Eric & Steven

BIO
Andrew LaSalla II is a Principal at LSG Lending Advisors. Andrew guides clients in navigating the loan process in a simple, transparent manner, so that the loans close at the lowest rates and the best terms.

CONTACT INFO
Cell: 216-645-9816
Email: [email protected]
Website: lsglendingadvisors.com

EP. 218 David Drewett: Multifamily Shared Living Spaces

43m · Published 21 Dec 10:00

Today we talk with David Drewett, owner of Property Hero. David provides a great service to Sarasota, FL by providing affordable housing in a market that's not affordable. He does this by investing in distressed multifamily properties, fixing them up and adding rooms in the living spaces, and then he rents out the rooms. The tenants share the kitchen and bathroom, and they also do the cleaning and light maintenance. It's a win-win since the community is happy to see buildings getting painted and fixed up while helping people get affordable housing, and it's a great business for David.

Key Discussion Points
[01:05] Opening remarks by Eric Odum and Steven Silverman
[05:49] About our guest: David Drewett
[06:58] How did you get started in real estate investing?
[08:27] Why did you choose Sarasota to start your real estate business?
[11:29] At what point did you get into multifamily
[12:38] What type of multifamily properties are you targeting for investments?
[16:12] What is your ideal tenant for the rooms you rent out?
[17:46] Tell us about your tenants doing the maintenance and cleaning
[19:17] Do you do leases or month to month?
[20:17] What are some of the important tenant rules in maintaining your business model?
[24:25] Do yo have someone help you with the leasing, or do you show the spaces yourself?
[26:33] How do you manage your properties and tenant payment
[29:42] What advice would you give to new investors - knowing what you know now?
[33:59] How are you managing your crews?
[35:27] How can folks get in touch with you?
[40:40] Closing comments by Eric & Steven

BIO
David Drewett is the owner of Property Hero. He and his company have closed more than 500 real estate transactions in Florida. David is knowledgeable in most facets of real estate transactions and is known for paying top dollar for investment properties. David is an investor in multifamily, and most recently is buying distressed multifamily properties and rents out the rooms.

CONTACT INFO

Cell: 941.544.8873

Website: http://bradentonrooms.com/

EP. 217 Lauren A. Cohen: Foreign National Investment in U.S. Real Estate

41m · Published 07 Dec 10:00

Today we talk with Lauren A. Cohen, founder of eCouncilInc.com. Lauren is both an attorney and a realtor, and she uses this background to help foreign nationals find and secure U.S. real estate investment opportunities as well as obtain visas. For those foreign nationals looking to use real estate as a vehicle for obtaining a visa in the U.S., there is a way to do it, but you have to do it in the right way and use qualified professionals to help you. Lauren and her team can assist with all aspects of U.S. real estate investments and securing visas.

Key Discussion Points

[01:04] Opening remarks by Eric Odum and Steven Silverman

[05:53] About our guest: Lauren A. Cohen

[06:41] How did you get involved in real estate as an attorney and realtor?

[09:09] How can someone become a legal U.S. resident by investing in real estate?

[13:55] Which real estate scenarios are you seeing foreign investors best qualify for an E2 visa

[20:53] Discuss the implications of foreign investors purchasing U.S. real estate

[25:12] From a cash flow standpoint, what does it take to qualify for an E2 visa?

[26:20] Can foreign investors carry debt on real estate investments for an E2?

[27:03] Talk about foreign investors raising equity from friends and family in their home country

[29:23] What are the implications for foreign investors investing in land?

[31:04] Do you clients invest primarily in Florida or in other parts of the U.S.?

[32:32] How do you help your clients find the right real estate investments?

[34:04] What is the difference between the E2 visa and EB-5 visa?

[35:33] How can folks get in touch with you?

[38:16] Closing comments by Eric & Steven

Lauren A. Cohen is founder of ecouncilinc.com and is an international lawyer, realtor, and cross-border expert. Lauren is also a best-selling author and sought-after speaker, and a globally acclaimed legal and real estate business adviser. She has been featured in Inc. magazine, the Wall Street Journal, NPR, Working Mother, tv, and many podcast and radio shows. As a lawyer and realtor, Lauren is particularly well suited to guide investors in their cross-border investment pursuits.

CONTACT INFO

Website: https://ecouncilinc.com/

Facebook & Linkedin: Lauren A. Cohen