In today’s episode of The Untold Stories of Real Estate Investing, host Wayne Courreges III speaks with Mike Mannino II. Over the past 9 years, Mike has built a business that bought, fixed, and flipped over 80 homes and owns 60+ rentals by the age of 30. He has created multiple companies that generate over $1M per year in revenue.  He’s the founder of Real Estate Wealth Builders at REWBuilders.com, an educational company that helps real estate investors quickly scale their real estate business.     Topics on Today’s Episode:    Introduction to guest Mike Mannino II and his journey in real estate investing. Discussion of the critical importance of mindset.  Mike's early success, buying a house at 19 to renovate and house hack. He sold the house at 21 and chose to reinvest the equity in fix and flip homes.  Wayne relates discipline and going against the grain to invest in the future, during his time the Marine Corps.  Goal setting is important for both personal and business aspects. The feeling of achieving a goal feeds the next goal. Humans avoid pain more than seek pleasure, so the feeling of not achieving the goal is very motivating as well.  Mike's passion for retiring his father and already achieving a $100K/year goal for him.  Mike discusses his standardized pricing sheet and uniform set of decisions for each fix and flip property-same cabinets, floors, trim, paint color, etc. Defined process saves time and money for each flip.  Profiling key members of Mike's team, including his partner David and office manager Olivia and 3 construction crews. Mike’s goal to help others is manifested through helping them achieve higher income to support their families.  The inception of REWBuilders.com, Mike's real estate educational platform. Free resources and Facebook group are available on the website.  REWBuilders live event in Florida for networking and learning about various types of real estate investing.  Overview of Mike's nine years in real estate: flipping 80 houses and acquiring 60+ rentals.  Insights into flipping houses and the difference between being rich and being wealthy. Mike states that flipping single-family homes built cashflow, but multi-family helped him achieve financial freedom.  Leverage people that are in places you want to be. Learn from and partner with those who have done the thing you want to do, to reach your goals.  Mike and Wayne share the importance of focus and overcoming fears in real estate.  The conversation on building wealth over time and the significance of setting achievable goals.  Mike’s proudest moment was achieving his goal to retire his dad with $100k in income per year.  Wayne's gratitude for the conversation and a teaser for an upcoming podcast on entrepreneurial mindset.  Get more info from Mike through the free resources on REWBuilders.com and by joining his active Facebook group.    Links and Resources:    Mike Mannino II  https://www.rewbuilders.com/ 

In today’s episode of The Untold Stories of Real Estate Investing, host Wayne Courreges III speaks with Tom Dunkle about the secrets of self-storage investing. After building a business in the distressed mortgage market, Tom and his partner sought an opportunity with increased stability and growth. Investing in distressed self-storage facilities has provided an amazing opportunity.  Tom Dunkel is the Chief Investment Officer of Belrose Storage Group LLC and brings over 27 years of real estate, finance and investment experience to the table. Working alongside his world-class team of professionals, Tom makes it his mission to find great investment opportunities for his clients while helping them meet their wealth-building goals.  Tom manages the firm’s financial underwriting, playing a critical role in creating win-win deal structures that ensure achievable investor returns. In addition, he works closely with private investors to communicate about new acquisitions and investing opportunities, as well as report on the progress of current investments.    Topics on Today’s Episode:   Introduction to Tom Dunkel and his background in real estate investment.  The focus of Bellrose Storage Group is on acquiring underperforming self-storage facilities.  Overview of the self-storage industry and its stability over the years.  Discussing remote management and contracted call centers for self-storage facilities.  Factors that contribute to the demand for self-storage, including both good and bad times. Home sales can drive traffic for retail self-storage, so during this time of low residential turnover, Tom is shifting focus to more stable commercial clients.  Utilizing social media advertising, such as Facebook geo ads, to target specific demographics.  Value-add opportunities in self-storage investing, including renovations, security upgrades, and management efficiency.  Interest rates and exit cap rates in self-storage deals.  The potential increase in properties coming on the market, due to capital stack distress.  Targeting specific markets and customers in the self-storage business. Shifting focus to commercial customers offers a variety of benefits. People using storage units for their business are more likely to pay on time and be long term clients.  The process of dealing with non-payment of rent and virtual auctions in self-storage facilities. Delinquencies are much lower cost and easier to turnover than multifamily evictions.  Building relationships with neighbors and communities for goodwill and to understand the market and their needs.  Risks and challenges in the self-storage asset class, including market shifts and control over variables.  The importance of grit and overcoming challenges in real estate investing.  Tom’s proudest moment: Building a successful, self-sustaining team. Tom’s goal is closing a deal without direct involvement, showcasing team growth.     Links and Resources:    Tom Dunkel  Belrose Storage Group, LLC - Self Storage Investing  tom@belroseam.com  

In today’s episode of The Untold Stories of Real Estate Investing, host Wayne Courreges III chats with the legendary Joel Friedland. Joel is a seasoned industrial real estate professional with an impressive track record spanning over 40 years. Joel takes us on a journey through his vast experience in the Chicago area, where he has visited a staggering 15,000 out of 16,000 buildings. Throughout the conversation, we delve into Joel's unique investment approach, his strategies for mitigating risk, and his insights on the current real estate market.  With over four decades of experience in industrial real estate, Joel leverages extensive brokerage expertise to lead conservative yet profitable syndications. After co-founding and growing Epic/Savage Realty Partners, a 60+ professional firm to successful exit, he founded Brit Properties. Joel has brokered over $250 million in transactions through valued long-term relationships.   Joel’s syndication approach uniquely utilizes 0% debt for principal conservation while targeting 8%+ cash returns. Having navigated the Great Recession, he employs a cautious strategy informed by cycles. For his investors, Joel delivers reliable cashflow, upside potential, and mitigated risk through dedication to the asset class and prudent deal structuring. His investments draw on a proven track record of 2,000+ industrial leases and sales totaling hundreds of millions acquired. Joel continually refined his real estate acumen over decades to create wealth for partners.  Joel attended the University of Michigan. He enjoys playing golf and spending time with his family, particularly his 3 young grandchildren.    Topics on Today’s Episode:  Introducing Joel Friedland, an experienced Real Estate investor with extensive experience in Chicago.  Friedland's focus is on mitigating drastic loss for investors through diligent and debt-free operations.  He offers insights into his investment preferences, such as smaller, older manufacturing buildings over large warehouse buildings. Defining your niche helps focus your efforts.  Friedland shares an example of a lucrative investment in downtown Chicago.  He discusses his unique approach to finding an 8% return on investment.  Friedland recommends investors diversify their investments, capping at 5% of their net worth with him.  He reveals his acquisition strategy, which involves buying properties from families experiencing internal transitions.  Friedland and Wayne discuss the importance of strong partnerships in the brokerage and real estate business.  They highlight the necessity of having a well-organized back office with efficient bookkeeping/accounting and property management.  Outsourcing, specifically in property management, is advised for individuals more attuned to sales.  Friedland's unique real estate investment strategy involving seller financing is discussed in detail.  Target investors for Joel are described, focusing on affluent older individuals.  Friedland emphasizes the approach of minimizing risk in investments.  As an investor, evaluating your own risk tolerance can guide you toward investment decisions that fit your needs and goals best.  Friedland's investment successes are highlighted, with narratives from successful collaborations.

In today’s episode of The Untold Stories of Real Estate Investing, host Wayne Courreges III speaks with Susan Geist who shares her expertise and tips for investors. She details how to put money back into investor’s pockets using the tax bucket approach. As someone who has achieved incredible success in building a portfolio generating five figures in passive income, Susan has invaluable insights into using strategic investment deductions to optimize your taxes and maximize your wealth.  A few years ago, Susan was taken aback by a huge federal tax bill. In response, she developed a 'tax bucket' strategy to map out her future tax planning. This approach enabled her to effortlessly visualize her income and tax obligations, ultimately revealing remarkable opportunities for substantial tax savings. Today, she consistently saves over $100,000 annually on her taxes. In this presentation, we will delve into Susan's tax-saving secrets. We'll learn how to categorize income into the IRS's three distinct buckets and discover deductions tailor-made for each bucket. Prepare to unlock the potential for substantial tax savings that put money back into your own pockets!    Topics on Today’s Episode:  Overview of the importance of tax planning and optimization in real estate investing.  Explanation of the tax bucket formula and its divisions (active, portfolio, passive).  Discussion of a client example named Meredith, who has income from a W-2 job and stocks.  Discussion of tax-advantaged accounts and real estate as tax-saving strategies.  Explanation of how short-term rentals can be classified as active businesses for tax write-offs.  Case study of a client generating a $120,000 loss in the first year through depreciation and expenses.  Importance of tax-savvy savings and the long-term impact of saving on taxes.  Example of using a backdoor Roth IRA to add to the active bucket and reduce taxes.  Benefit of being in the 0% tax rate for dividends and long-term capital gains.  Comparison of previous and current tax burdens for a client, resulting in significant savings.  Mention of other income benefits related to the Affordable Care Act, FAFSA, and Medicare.  Discussion of the potential future wealth growth through compounding.    Links and Resources:  Susan Geist  https://www.risingfemmewealth.com/  risingfemmewealth@gmail.com  https://calendly.com/risingfemmewealth https://www.linkedin.com/in/susan-geist   CREI Partners   https://www.creipartners.com   https://www.meetup.com/texas-multi-family-inv...

In today’s episode of The Untold Stories of Real Estate Investing, host Wayne Courreges III speaks with Dr. Rob Scranton. Dr. Rob is an expert in the field of infinite banking, a concept that revolutionizes the way we think about insurance policies and real estate investing.  Dr. Rob Scranton uses accounting and finance expertise to teach the Infinite Banking Concept, or IBC, for wealth growth. He shows how to leverage debt and expenses with this little-known strategy instead of traditional scrimping and saving.  Infinite Banking predates the IRS so wealth accumulated through it is protected from government seizure. Dr. Rob has achieved financial success with this method without compromising lifestyle or going frugal. It's about staying wealthy by preserving and growing your money. The wealthy use this 200-year-old strategy to keep more money rather than working more or taking on more risk.  Dr. Rob is passionate about sharing these strategies from family traditions, like how private banking saved his great grandparents' farm in the Great Depression as public banks failed. He explains why personal banking is critical now. If you want true wealth, learn the Infinite Banking Concept - Dr. Rob can help.    Topics on Today’s Episode:  The benefits of using overfunded, cash-heavy whole life insurance policies that pay dividends through mutual companies, for loans, cash growth, accumulation, and compounding.  The importance of structuring insurance policies properly for the infinite banking concept.  The mistake of going to just any insurance agent without considering their knowledge of structuring policies for IBC.  The advantage is for the client rather than the agent in setting up policies properly for the banking concept, so be aware of what you need and read the policies.  The benefits of the death benefit attached to these policies and how it continues to grow when policies are set up properly for banking purposes.  An example of a long-standing policy showcasing significant returns on investment.  The concept of getting a return of premium in addition to the upside of an insurance policy.  The company's partnership with other companies that have designed policies specifically for infinite banking.  Dr. Rob Scranton’s personal experiences and success with their banking system.  The limitations and requirements for policies based on age and income.  The ability to continue earning interest on the cash value even after taking out loans.  The option of passive investing in real estate, using these accounts, and the benefits it can bring.  The differences between term life insurance policies and whole life insurance policies.  The challenges and misconceptions surrounding infinite banking.    Links and Resources:  Book Recommendation  Becoming Your Own Banker: Unlock the Infinite Banking Concept: R. Nelson Nash: 9780972631617: Amazon.com: Books    Rob Sc...

In today’s episode of The Untold Stories of Real Estate Investing, host Wayne Courreges III talks to Tom Zeeb about using his proven techniques to find profitable real estate wholesale deals. Tom shares his strategies for finding and negotiating real estate deals for any exit strategy.   Back in 2001, Tom was broke as a joke. A near-death experience while whitewater rafting pushed him to find a new way to break free of his 9-to-5 job. His first "deal" almost took him under as well, but real estate investing saved him in the end. Both personally and financially.  Hundreds of deals later, he is happy to share the same negotiation, marketing, and business techniques that set him free, so you can do the same. Simple, structured, and step-by-step techniques that take you from spinning your wheels to making profitable deals.  Investors of all levels struggle with their businesses. Newbies want to get started, but often keep hitting the wall of confusion and spinning their wheels. Intermediate and advanced investors often find that they made a wrong turn and built a business they aren’t actually happy with, but don't know how to fix and re-engineer it.  Tom Zeeb works with real estate investors of all levels to get their business built (or re-built) correctly, so that their personal goals and lifestyle stay at the center of everything they do, giving them more money, time, and freedom to spend as they please.    Topics on Today’s Episode:  Tom’s experience in real estate investing and how it saved them both personally and financially.  The role of networking and building relationships in finding good investment opportunities. Real Estate investing is a team sport.  The use of public records and other resources to identify potential investment opportunities. Divorce, death, being an out of state owner, etc, are all available in public record and may lead to owners that are trying to sell their homes quickly This allows targeting with direct mail or other outreach.  If the sellers are distressed and need to sell, helping them by wholesaling or buying as an investment is a helpful act of service.  Sellers may not have time or money to sell their property in a more traditional way. Wholesaling can be a service to “buy and hold” rental investors, or rehab investors, to help them find appropriate deals.  Be sure to understanding assignable contracts and options in in...

In today’s episode of the Untold Stories of Real Estate Investing, host Wayne Courreges III talks to Jack Krupey who has truly mastered the art of value-add investing. Jack is a firm believer in the power of strategic investing and the incredible opportunities that exist in the real estate market. He has been able to build wealth, achieve tax deferral, and help countless individuals reach their financial goals through his unique coaching program and investment partnerships.   Jack Krupey is the principal and founder of JKAM Investments. He has been investing in both real estate and distressed debt since 2001. He has built long-term relationships with experienced real estate developers, sponsors, and syndicators over his 20-year career. Jack leveraged the 2008 financial crisis as part of a private equity fund that yielded impressive returns off of distressed and restructured debt. He repositioned properties as well as modified and restructured loans for borrowers.  In 2014, Jack entered into a partnership with a large private equity fund and led the asset management arm of the firm that made over 3 billion dollars in purchases of non-performing and re-performing mortgage debt between 2015 and 2019. An entrepreneur by nature, Jack decided to launch JK Asset Management and the JKAM Diversified RE Fund to focus on alternative assets such as value-add multifamily real estate.   Prior to beginning his real estate investment career, Jack graduated from Rochester Institute of Technology with a bachelor's in information technology. Jack graduated with a dual MBA from Northwestern’s Kellogg School of Management and from Hong Kong University of Science and Technology.    Topics on Today’s Episode:  Jack’s journey from an IT consultant to real estate entrepreneur and financial freedom.   Missed opportunities in the rental market for investors who did not take advantage of recent rent surges.  Jack’s take on value-add strategy of renovating units and raising rents to increase net operating income and the value of the building.  The benefits of real estate investment in terms of generating positive cash flow, tax deferral, and building long-term wealth.  Many reasons to be bullish in today’s market, especially in Houston.  The number one metric to look at is still net operating income (NOI). Interest rates can move up and inflation can increase, but NOI is the one thing we can control and if you are hitting this metric, then you should be stable in the midst of any storm.  For individuals in high tax brackets, real estate investing can be a game-changer. Building long-term wealth and achieving tax deferral through real estate can be a powerful tool for retirement planning.  The importance of investing with good operators who have the financial means to execute projects effectively.  How concepts like depreciation, passive losses, and tax-deferred income, investors can strategically reduce their tax liability and generate positive cash flow.  Jack shares his insights and wealth of knowledge on evaluating distressed deals and investing in stabilized assets.  Today’s multifamily climate and potential risk with Class A assets.   The national housing shortage has opened huge investment opportunities in the class B multifamily market. Rents are still rising in today’s market at a rate of up to 10-15% per year.  The power of tax los...

In today’s landmark 50th episode of The Untold Stories of Real Estate Investing, host Wayne Courreges III is excited to learn about international perspectives in real estate investing with Igor Shaltanov. Igor is the founder and managing partner of Avista Fund and is a former professional athlete who transitioned into successful entrepreneurship and real estate investment.     Guided by discipline and a relentless drive for excellence, Igor has founded and managed thriving companies and businesses in Southern California. In 2015, Igor ventured into real estate and established Avista Fund in 2020. This privately held firm focuses on raising capital from investors and investing in income-generating, value-add multifamily properties. Their mission is to provide local as well as international investors with access to US real estate, safeguarding and growing their wealth amidst high inflation rates in their local countries and currencies. They are currently serving as a limited partner to 17 different real estate deals, 3,050+ multifamily units, with a cumulative value of over $483.5MM. They prioritize conservative underwriting and meticulous due diligence, ensuring a prudent approach to investing while delivering value to both investors and residents.     Igor's professional journey exemplifies a relentless pursuit of excellence, supported by his values driven approach to business and investment. Through Avista Fund, he not only empowers investors but also makes a positive impact on the lives of residents and communities    Topics on Today’s Episode:  Introduction to Igor Shaltanov and his perspective on ownership in real estate investing.  Comparison of different cultural perspectives on ownership and property rights.  Encouragement to ask questions about the legal framework and potential risks in real estate investing.  Discussion on the value proposition of converting currency to American dollars.  Analysis of the depreciation of other currencies and the potential long-term value of investing in the US dollar.  Exploration of the fear of losing what has been earned or gained as a potential reason for lack of investment interest among groups of people from various parts of the world.  Speculation on the number of investors like Igor who are purchasing apartments in Russia, Ukraine, or passive investing in the United States.  Personal experience of leasing a single-family home in California, including difficulties and frustrations.  Appreciation for the multifamily space and its ability to cover expenses even with vacant units.  Importance of taking pause and not letting emotions get involved in real estate investments  Personal background of Igor as part of the professional water polo team and his worldwide travels.  Meeting Igor's wife in Turkey and their journey to starting a family.  Roller coaster nature of a career in sports and the discipline required to navigate it.  Exploration of the potential for social media and the world to create division and conflict. Questions about personal experiences challenge negative expectations and stereotypes in South Africa and Russia.  Reflection on Igor's proudest moment: finding a real estate idea with high return and low risk.  Discussion...

In this episode of The Untold Stories of Real Estate Investing, host Wayne Courreges III invites Jeff Greenberg, the CEO of Synergetic Investment Group, to share his final thoughts on a fruitful real estate journey. Jeff Greenberg goes deep into transitioning from being a GP to focusing on raising funds and working with investors. He also discusses the customizable equity fund offered by SIG, its benefits, and its structure for passive investors.  Jeff Greenberg is the CEO and managing member of Synergetic Investment Group LLC, also known as SIG. With over 12 years of experience managing all aspects of commercial real estate ownership, including acquisitions, operations, value-add implementations, and dispositions, Jeff is a seasoned expert in the field. He's been involved in projects worth nearly $150M, consisting of over 2000 units, including student housing, and short-term rental and market-rate multifamily properties. Through the SIG Wealth Fund, Jeff provides high-net-worth individuals the opportunity to passively invest in commercial real estate. With his extensive experience and network, Jeff uses the best-in-class commercial deal syndicators to help investors discover and invest in high-quality alternative investments.     Topics on Today’s Episode:  Introducing Jeff Greenberg, CEO and managing member of Synergetic Investment Group, LLC (SIG).  Background and experience of Jeff Greenberg, highlighting projects worth nearly $150 million.  Discussion on recent changes in Jeff's investment strategy, including selling off assets and focusing on raising money and working with investors.  Introduction to SIG and its offering of a diversified and customizable equity fund for high-net-worth individuals.  Explanation of the private equity funds created by Jeff, allowing investors to decide whether or not to invest in each deal brought into the fund.  Insight into the benefits of the fund, including the ability for investors to self-diversify and choose deals based on their criteria and goals.  Details on the flexibility and customization of the fund, providing investors with the opportunity to have a say in their real estate investments.  Explanation of the one K-1 form issued to investors at the end of the year, regardless of the number of deals they are involved in.  Discussion on the advantages of a single K-1 form for investors, simplifying the tax reporting process.  Insights into Jeff's focus on transparency and communication with investors in the fund.  Highlight of the student housing property in Georgia that Jeff still owns as a testament to his ongoing investment success.  Examples of successful deals and projects that Jeff has been involved in, showcasing his expertise and track record.  Explanation of the opportunities for passive investors to grow wealth through real estate by investing in SIG's equity fund or with CREI Partners, LLC.    Links and Resources:  Jeff Greenberg jeff@synergeticig.com   https://www.synergeticig.com/   https://www.linkedin.com/in/jeff-greenbe...

In this episode of The Untold Stories of Real Estate Investing, host Wayne Courreges III speaks with William Quinton Hollis about wholesale real estate investing and short-term rentals. Hollis is the principal of 24 Capital Group, a real estate private equity firm based in Connecticut that specializes in helping real estate professionals take back their time and own their futures by investing passively in cash-flowing real estate deals.     Hollis’ passion for real estate began when he was a kid, watching his family’s landlord collect rents. As he got older, he became an expert in creating opportunities and finding deals, and is committed to staying at the forefront of the latest technologies.    Hollis is also dedicated to sharing his knowledge and expertise with others, regularly speaking at real estate conferences across the country.    After growing 24 Capital Group’s asset portfolio to over 80 properties in 2022, Hollis is excited to tackle new opportunities, and to continue making a positive impact on the real estate community.    Topics on Today’s Episode:  Introduction to William Quinton Hollis and his real estate journey, beginning with inspiration from Mr. Carter, their landlord in Queens, NY.  After initially believing that real estate investing was out of reach, he attended a real estate conference and learned about wholesaling. Wholesaling was different from Mr. Carter's approach.   Economies of scale lead to transitioning to larger real estate deals and the importance of partnering with others, which led to starting their firm, 24 Capital Group. Exploring specialized short-term rental companies. Emphasizing the importance of partnering when investing in short-term rentals. Partnering with individuals in different markets who are "boots on the ground."   Differentiating between hiring and partnering for a higher level of commitment and service.   Advice on finding a partner in a favorable short-term rental market. Discussing the concept of commoditization using the example of milk: Create a product or property that has no competition. There is less competition at the top, where similar amenities are rare. Below the 75th percentile of revenue, it’s a race to the bottom of price, it’s a commodity. Above that, there’s little competition and much greater price flexibility.  Highlighting the unique vacation experience provided by Airbnb and praising incredible homes created by Airbnb with various amenities. Involvement in a venture outside their portfolio partnering on smaller properties.   Importance of market analysis and attracting families or groups of friends to minimize risk.   Significance of design effort and amenities in distinguishing properties and charging premium rates.   Partnership with Techvestors on a short-term rental fund and its benefits. Valuing trust, personal relationships, and having uncomfortable conversations in real estate.    Links and Resources:  https://24capitalgroup.com/  https://www.instagram.com/reihol...

In this episode of The Untold Stories of Real Estate Investing, host Wayne Courreges III speaks with expert Matt Clark to dive into the details of how real estate investors can save thousands in taxes through cost segregation.   Matt Clark currently lives in Houston, TX, where he was born and raised and attended the University of Houston. His journey into the world of real estate was an exciting pivot from the software realm, where he honed his skills as a value-added seller.  Currently, Matt is part of the dynamic team at Madison SPECS, a company with over 15 years of experience in the field and an impressive track record of completing 10,000 studies nationwide. In his role, Matt specializes in offering Cost Segregation Studies, helping real estate investors unlock hidden value within their properties and optimize their financial returns.  With a passion for property and a commitment to delivering top-notch service, Matt is dedicated to helping clients achieve their real estate investment goals through the power of Cost Segregation.  Topics on Today’s Episode: Cost segregation study timeframe: Typically, the IRS has a seven-year cutoff. Workarounds and special scenarios can extend the timeframe to up to ten years  There are workarounds to potentially extend the timeline up to ten years.   Cost segregation (cost seg) calculated per property, not per investor  Savings pass down to individual investors if the property has multiple investors  Classification of properties. Multifamily properties are typically considered commercial and fall under a 39-year scale.   Residential properties with long-term leases qualify for residential tax breaks  Cost segregations break down each component of the property into different asset classes. This allows depreciation deductions to be taken on shorter time frames for components that qualify. Therefore, this accelerates the rate at which depreciation deductions can reduce taxes on the property's income. The depreciable basis is the property value minus the land value (around 15% in Texas)  Quicker tax savings are available by accelerating depreciation deductions  Bonus depreciation and carry-forward deduction: Upfront deduction of all five-year and fifteen-year assets. Rates are currently at 80% and phasing out in 20% increments. Deductions carry forward indefinitely  Eligibility and benefits of cost segregation: Anyone who invests in real estate and plans to hold the asset for more than a couple of years is eligible  Active investor status for real estate professionals with 750 hours of service in real estate activities.  Maximize tax savings with cost segregation: To meet this goal, it is important to add every little piece of the property for larger lump sum savings.  Cost segregation typically worth it for most investment properties  Depreciation schedules and savings: Multifamily properties are commercial, and residential properties can still save a significant amount  Investors will save on a 39-year schedule  Bonus depreciation phase-out and potential return. Last year was 100% bonus segregation, this year it's 80% and phasing out by 20% each year, but there is speculation on bonus depreciation potentially returning due to upcoming elections  In-person versus virtual property study: Depends on type of property and availability of online information. However, larger properties may require in-person study, while residential properties can be done virtually if extensive online information is available.    Links and Resources:  Matt Clar...

In this episode, we have an insightful conversation with our managing principal, Wayne Courreges III, as he dives into the fascinating world of real estate investment. Wayne takes us through some of the most important aspects of underwriting and vetting deals from a passive investor’s perspective. He also discusses the role multifamily investors should play behind the scenes of multifamily underwriting.  Wayne leads the investment lifecycle and investor relations for CREI Partners as the lead sponsor and general partner. For more than 15 years Wayne has worked with a Fortune 150 commercial real estate firm leading property management services of 4.5M+ square feet for both institutional and non-instructional clients over his career. Wayne has worked closely with dozens of real estate professionals executing building strategic plans of over $60M and assisted owners through their investment lifecycle. His background in commercial real estate, passion for leading teams, and desire to increase his investor’s and team’s wealth pushed him to start CREI Partners.     Topics on Today’s Episode:  Importance of understanding return rates and conducting sensitivity analyses  Assessing projected interest rate increases and exit cap rates  Emphasizing the importance of trust and relationships with the sponsor  Importance of timely communication and responsiveness from the sponsor  Goal of increasing net operating income, NOI  Increasing revenues through various avenues  Reducing shared property management expenses by managing multiple properties together  Building a strong team for investors  Importance of the rent roll in determining monthly rent and other charges  Evaluating financials for a specific time period (T-12, the prior 12 months of financials)  Calculation of net operating income by subtracting expenses from total rent revenue  Use of income statement for underwriting  Preference for multifamily investments due to cash flow potential and economies of scale  Explanation of multiclass waterfall structures for profit distribution  Importance of GP sensitivity analysis in investor presentations  Approach to finding on-market and off-market opportunities  Importance of rent roll and income statement in evaluating opportunities  Staying conservative and assessing achievability of business plan  Assessing competitors and listening to the company's story  Trusting instincts and passing on questionable opportunities  Benefits of interest-only payments for distressed properties  Adjusting the exit cap rate in investment analysis  Considering different scenarios for interest rates and cap rates  Analyzing cap rates to determine if they make sense for the deal  Explanation of property condition reports and working with trusted contractors  Commercial real estate can have variable hold times. We shoot for 5-7 years but that can change based on market factors.  Investors may have different preferences...

On this episode of The Untold Stories of Real Estate Investing, host Wayne Courreges welcomes guest Zachary Wilson, an IRA specialist from Quest Trust Company. With over 20,000 clients and $2.8 billion in assets under administration, Quest Trust Company is the largest self-directed IRA custodian in Texas.   Zach is originally from New Orleans, Louisiana. He began as a Chemical Engineer at LSU. After a couple of years, he realized that he wanted to take his life in a different direction. This led him to packing everything up and moving to Houston to pursue a degree in Finance at UH.   Even then, the traditional route of a normal Finance major didn’t seem like the right fit. That’s when he found Quest. He started his career at Quest over 4 years ago in Quest’s Internal Auditing team. This meant that he led a team that looked over every investment that came through Quest. He learned in detail how these investments are structured.   After that, he joined the IRA Specialist team which he is currently on. This allowed him to get a different perspective. Now not only does he know how most investments are structured at Quest, but he also now gets to take a deep dive into the networking and business development that make these deals possible. Quest has had a profound impact on his life and the way he views his own personal investments for the future.     Topics Covered on Today’s Episode:  Zach Wilson is an IRA specialist from Quest Trust Company. Quest Trust is the largest self-directed IRA custodian in Texas with over 20,000 clients and $2.8 billion in assets.  Importance of knowing and understanding retirement accounts.  Zach is happy to provide assistance and information to clients, not just Quest clients.  No negative implications for developers using SEP IRA funds from investors.  Must perform due diligence and ask questions.  Use the entity's information instead of personal information when investing with an IRA. The IRA is a separate entity with its own name, address, and EIN.  Reporting requirements: Value of assets held under administration reported to Texas Department of Banking and IRS annually.  Quest Trust YouTube channel has educational videos.  Taxable and non-taxable entities for investing: Differentiate between taxable entities (individuals, LLCs, corporations) and non-taxable entities (self-directed IRAs, nonprofits)  Benefits of self-directed IRAs: Allows individuals to invest in the same deals in a tax-advantaged account.  There are 3 main reasons why you should self-direct your IRA: 1. Diversify, 2. Tax Benefits and 3. Invest in what you know best.   Restrictions on investments with Self Direct IRA include, but are not limiteed to, yourself, spouse, immediate descendants and ascendants or any company that they are affiliated with. You cannot buy, sell or trade, loan, extend a service to or receive a benefit from IRA, whether direct or indirect. Investment restrictions include life insurance policies, and you cannot use your IRA to invest in collectibles.  Important considerations in investments in real estate syndications with self-directed IRA include UBIT (Unrelated Business Income Tax) and UDFI (Unrelated Debt Finance Income) refers specifically to the amount of unrelated business income that is subject to UBIT.   Links and Resourc...

In this episode of “The Untold Stories of Real Estate Investing” host Wayne Courreges III interviews Courtney Bhenderu about her experience in real estate asset management and investing. They discuss the current state of the market, investment opportunities, and the importance of making the numbers work. Additionally, Courtney shares her thoughts on entrepreneurship, parenting, and creating educational opportunities for children. This episode is a must-listen for anyone interested in real estate investing, syndication deals, or growing their wealth passively. Tune in now on your favorite podcast platform and let us know your thoughts in the comments! Courtney Bhenderu is a passionate learner who has been involved in the creation of newsletters, blogs, and social media posts for over a year now. Her craving for knowledge and inspiration has led her to delve into the world of passive investing and real estate syndication, which has recently seen a surge in popularity. As she continues to create content for others to learn from, she is also excited to get to know her audience on a more personal level. Her journey toward a more fulfilling career in finance has just begun, and she can’t wait to see where it takes her. Coming from 10 years serving on teams managing assets along the skyline of Houston’s Central Business District and Galleria submarkets, Courtney has deep knowledge and experience in every aspect of high-end commercial property management—from building countless Fortune 500 tenant relationships to helping manage multi-million dollar high-rise renovations. She firmly believes in the foundational principles of good old-fashioned service, transparency and teamwork—values that mesh perfectly with the pillars of CREI Partners.   TOPICS ON TODAY’S EPISODE: Teaching kids about money and investing to ensure future prosperity. Raising confident daughters with traditional values. Kids create business plans and launch lemonade stand to learn entrepreneurial skills. Flexibility in investment approach for profitability. CREI Partners launching investment into luxury storage for RVs, boats, and businesses. Prioritizing investment goals for syndication projects. Invest for long-term gains, not dividends. We are hands-on asset managers and prefer fewer, well managed, deals per year. Commercial investment advice and helpful resources available. Excellent property manager perseveres amidst turnover. Investing is better than saving money to offset inflation. As an investor, you have to know, like, and trust the deal sponsor, but avoid overthinking. We are always available for a chat or lunch to get to know if our goals align. LINKS AND RESOURCES: COURTNEY BHENDERU https://www.linkedin.com/in/courtneybhenderu/ https://www.creipartners.com/invest-with-us/ CREI PARTNERS LLC https://www.creipartners.com/ https://www.creipartners.com/podcasts/ https://www.creipartners.com/ebook/ https://www.youtube.com/@creipartnershttps://www.linkedin.com/company/creipartners/

In this episode of The Untold Stories of Real Estate Investing, Wayne Courreges III talks to Sandhya Seshadri, who has invested as a limited partner, key principal and general partner in over 3000 doors, holding 200 million in assets throughout the United States. She's been a leader in the equities markets for over 30 years and moved to commercial real estate due to the tax advantages and the ability to uniquely force appreciate each asset become her mission to help others capitalize on all the benefits of real estate investing. Sonya is based in Dallas. She focuses exclusively on the Dallas area. She will discuss how passive investors can save a deal and avoid potential train wrecks in the current environment, where rising interest rates, insurance costs, and property taxes are creating challenges. The conversation covers topics such as stress testing deals, communication and transparency, private placement memorandum, and evaluating distressed real estate opportunities. Seshadri shares her experiences dealing with a train wreck deal and offers advice on how limited partners can communicate concerns and take actions early to avoid potential pitfalls.   Topics on Today's Episode: Guest introduction: Sandhya Seshadri, an experienced real estate investor.  Discussion on the challenges faced by real estate investors due to rising interest rates and lack of rate caps.  Importance of stress testing deals and evaluating property management practices.  Analysis of failed real estate deals in Houston due to poor underwriting and troubled locations.  Importance of reading and understanding the Private Placement Memorandum (PPM) for investors.  Focus on the details of the PPM and operating agreement when a deal is in trouble.  The significance of transparent communication with the sponsor syndicator.  Availability of monthly financial reports for investors, providing full transparency.  Understanding the impact of additional capital raised through a capital call on the deal's recovery.  Importance of assessing risks and potential outcomes when evaluating a distressed investment.  Communicating concerns with the general partners and documenting questions in writing.  Involving other LPs to add their voice and request a meeting to discuss problems.  Seeking advice from the syndication lawyer and obtaining original copies of relevant documents.  Writing a demand letter and requesting a meeting or webinar to get clear answers.  Assessing the deal and making an informed decision on whether to hold on or exit.  Considering the runway and potential future distress deals in the decision-making process.  Sandhya Seshadri's successful real estate deals that outperformed the S&P 500.  Importance of being sophisticated and informed as a passive investor.  Encouragement to be prepared to invest in distressed real estate opportunities and remain vigilant in evaluating investments.  Links and Resources: Guest Sandhya Seshadri linkedin.com/in/engineered-capital engineered-capital.com  AcePassive.com 

In this episode, Wayne talks to Senate Eskridge, who is an expert real estate investor who currently owns a managed portfolio of single and multifamily homes. He owns or manages over 500 units across the country. Senate has over 10 years of experience in real estate investing, and more than 20 years of experience in business development, management, and sales.  Senate Eskridge is a multifamily coach that teaches students how to purchase multi-family properties. On this episode, he shares valuable insights and experiences. Listeners will learn about the advantages and risks involved in passive investing and multifamily vs single-family investing. The speaker discusses key questions to ask when considering a deal and warns against working with people who may not know what they're talking about. They share their journey from accidentally becoming a landlord, to becoming a coach and investor with 595 multifamily units. Listeners will also gain knowledge about diversification, valuations, mentorship, and a lot more that goes into investing in real estate.    Topics on Today’s Episode:  The speaker has been an entrepreneur most of his life, starting with selling things in school. He got into real estate by renting out a house he couldn't sell. He then discovered the BRRR strategy that involves buying, repairing, renting, and refinancing. He eventually moved into flipping houses and commercial multifamily apartment buildings. He sought mentorship and became a coach for investors in multifamily. Currently, he owns 595 multifamily units across twelve transactions.  Start with multifamily if that's your end goal, but starting smaller is okay. Single family isn't a necessary step.  Single-family houses are risky and not profitable. They generate around $100-200 per month, but require a lot of time, effort and carry significant risks for maintenance. Vacancy can lead to zero income and additional expenses. Investing in larger complexes spreads risk and is more profitable.  Real estate investing can either be active or passive. For passive investing, investors need to network with known people and invest money, then read property updates and cash checks. For active investing, hiring a coach is essential to find out what kind of investment to pursue and what goals to set.  The five buckets for active investing include deal finding, due diligence, risk capital, a key principle or deal sponsor, investor relations or capital raising, and asset management.  Elite performers have many coaches, while beginners are resistant to coaching. Coaches help compress time frames and achieve success faster.  Specialize in one thing, and get really good at it. Build a canyon of knowledge. Be a specialist in one thing and be the best and make a ton of money with that one thing and then use that money to diversify through other people that specialize in one thing.  Networking is key to finding real estate investment opportunities. Join online forums, attend conferences and investor clubs to meet potential partners and passive investments.  Investing in turbulent markets requires caution. But money can be made in any market if someone knows what they are doing.  As a passive investor, vet the people you work with and ensure they know what they are doing. Look for long-term fixed debt with a 3-year minimum. Ask about rent escalations and expense projections. It is important that the sponsor has confident and transparent answers to these questions and knows what they are talking abo...

In this episode, Wayne talks to Rob Beardsley. Rob oversees acquisitions and capital markets for Lone Star Capital and has acquired over $350M of multifamily properties. He has evaluated thousands of opportunities using proprietary underwriting models and sold over 10,000 copies of his book, The Definitive Guide to Underwriting Multifamily Acquisitions. He has written over 50 articles about underwriting, deal structures, and capital markets and hosts the Capital Spotlight podcast, which is focused on interviewing institutional investors.    Rob’s areas of expertise include:  Multifamily Underwriting: Basic overview, key metrics, sensitivity analyses, stress tests, comparables, cap rates  Partnership Structures: How to structure deals with investors, waterfalls, preferred equity, matching your strategy Raising Capital: How to partner with institutional investors, how to form joint ventures and co-GPs  Financing: Overview of debt options for multifamily, matching debt product to investment strategy, loan term nuance   Topics on Today’s Episode:  Rob got an early start in real estate through his parent’s brokage firm that focused primarily on construction and fix and flips. This led Rob to dive into multifamily as the best way to accumulate wealth and assets.   At 20 years old Rob, alongside his partner Kent Piotrkowski, started Loan Star Capital about 7 years ago. In that span of time, the firm has acquired close to $400M worth of multifamily properties.   Growing up around real estate and his father’s mature conversations contributed immensely to Rob’s entrepreneur mindset and his ability to lead and inspire others.   You really do not understand business until you are in business. Higher education is only textbook knowledge, real-life business is the best teacher.   Risk factors are so important when starting a business, however the stakes become higher when you have a family and other responsibilities. The best time to take a risk is early in life when liabilities are less.   Being Bullish on Houston makes sense because it's a diverse city. Houston is not only an oil city, but also the largest medical center in the world and the busiest port in the US in terms of foreign tonnage. It is often overlooked, making it one of the most accessible large markets to penetrate.   Insurance is one of the biggest obstacles in today’s Houston market. Not to mention that interest rates have affected all markets.   Rob and Wayne discuss the main factors behind high insurance premiums. The spike of property insurance in Houston has been caused by:   1. Many hurricanes have made landfall, and repetitive major losses have followed.  2. The number of carriers that are willing to insure in Houston has decreased.    Rob talks about what the risk is in today’s market. Being mindful of risk is key. Consider whether a value-add deal will yield the same return as a clean stabilized deal. If you are not getting paid for the risk, it's better not to take it. There are cycles in the market that will recenter prices and insurance costs.  Operational headwinds are likely to approach in the near term, such a recession which will impact collections, rents, occupancy. This makes it critical to be tighter on proforma rents, growth assumptions and wider exit cap rates. 

In this episode, Wayne talks to Virginia “Ginny” Bolling. Ginny has been in real estate for over 35 years working as a consultant expert in real estate acquisitions in the governmental arena.  She has extensive knowledge and ability to understand and work through land title, land use, zoning, valuation, contracting, litigation, permitting, and environmental issues, as well as closing complex transactions. She has:  Acquired or supervised the acquisition of over 600 properties  Earned the designation of Senior, Right of Way Associate (SR/WA)  Bought first foreclosure property in 1987  Real estate broker over 30 years  Residential (2-yr) and commercial real estate appraiser over six (6) years  Started first of five (5) businesses in 1984  Worked in highly litigious & contentious environments (eminent domain) 22+/- years  Fix & flip investor (4) years  Currently holds rentals in Central Florida and Jacksonville  Limited Partner in 544 units in Houston, TX  Ginny is known for her calm, collaborative style, zest for data, and communicating difficult concepts well.  She has a passion for community development and redevelopment and one of her businesses in the 1980s performed real estate research specializing in feasibility studies. She is known for having a considerable real estate network. She connects with, as well as follows, leaders in the industry closely.  She enjoys volunteering in the community and has served on many boards.  Ginny currently serves on the Board of Directors for Valhalla Villas, a nonprofit whose mission is to provide independent living facilities for people with autism.  Topics on Today’s Episode:  Ginny’s Journey into Real Estate began early in childhood with her parents being real estate investors involved in flipping and selling. After studying marketing, she entered the governmental arena, participating in real estate purchases for the state of Florida and negotiating complex settlements.   After leaving the governmental arena, Ginny moved into commercial real estate syndications. Covid presented a great opportunity to get into Syndication as renters were defaulting and sellers were looking to get rid of properties.   It is less important to time the market than to “buy right” with solid underwriting and have the 3-legged stool of commercial real estate syndications. 1. Location 2. Team 3. Business Plan The darling investment of the day is still multifamily, generally value-add. Ginny’s acquisition team is mostly focused on Multifamily because of a long-term housing shortish.  Additional opportunities in Commercial space include potential to build, medical office, mobile home park, self-storage, and assisted living.   The “Silver Tsunami” is coming and there will be opportunities to invest in assisted living facilities. There is potential to invest as an owner and hire complete management.  The 2 biggest factors to consider when underwriting are taxes and insurance  You should assume that the property will be appraised after purchase to 80-90% market value.   Insurance estimates can increase by 40-60% higher than initial underwriting in coastal cities. ...

In this episode, the managing principal of CREI Partners, Wayne Courreges III, explains how passive investors should vet real estate Investing deals. Wayne leads the investment lifecycle and investor relations for CREI Partners as the lead sponsor and general partner. For more than 15 years Wayne has worked with a Fortune 150 commercial real estate firm leading property management services of 4.5M+ square feet for both institutional and non-instructional clients over his career. Wayne has worked closely with dozens of real estate professionals executing building strategic plans of over $60M and assisted owners through their investment lifecycle. His background in commercial real estate, passion for leading teams, and desire to increase his investor’s and team’s wealth pushed him to start CREI Partners.  Today, Wayne delves deep into the following topics to help passive investors analyze real estate investment opportunities including:  What Is Passive Investing?  Determine Your Risk Tolerance and Investment Goals   Assessing the Sponsorship Team    Assessing the Financial Returns   Assess the Location and Market Demographics   Assess the Underwriting and Business Plan   Analyze The Risks  Review Tax Implications - Open Q & A    Topics on Today’s Episode: The Motley Fool definition: Passive real estate investing is when you give someone your money and they do all the work for you. A real estate investment trust (REIT) or real estate partnership where you do not play an active role are good examples. The key point is that a passive investment requires little work on your part.  Determining your risk tolerance will require that you identify where you fit in the risk versus tolerance spectrum. There are 4 levels to consider-Core, Core-Plus, Value-Add, Opportunistic. Each provides distinct levels of risk/benefit. Core is less risky with more cash flow, but less opportunity for equity growth. Opportunistic is the riskiest with potentially no cash flow, but the highest opportunity for equity growth.  Are you primarily looking for cash flow or equity growth? Click this link for a brief explanation of the difference. https://www.youtube.com/shorts/3WkyRnc_BBE  Assessing the partnership team requires that you also know who will be managing the property and executing the business plan.   Assessing the financial returns. Wayne discusses 3 common deal scenarios and the pros and cons of each. Your goals determine which deal structure makes the most sense for you.   Important metrics to consider include average annual returns, operation cash flow, equity multiple, and internal rate of return.  Assessing the market location and demographics. Google can be your best friend in searching out property reviews. Below are some additional tools that can be useful:  Google Earth https://earth.google.com/web/   Justice map https://www.justicemap.org/  FEMA Flood Maps https://www.fema.gov/flood-maps  Best Plac...

In this episode, Wayne talks to Susan Geist, PMP, who grew up in a lower-class family in rural Appalachia and began investing in real estate in 2008. Eventually, she achieved a portfolio that now generates over 5-figures in passive income each month. Using strategic investment deductions, she reduced her annual federal tax bill from $137k to $6k while increasing her W-2 and investment income. Her current multi-million-dollar real estate portfolio consists of both long- and short-term rentals, in addition to limited partnerships in apartments, car washes, self-storage, hotels, and mobile home parks nationwide.   Through her company Rising Femme Wealth, LLC, Susan provides financial education workshops and investment coaching to empower other women with the strategies and confidence to grow their wealth, reduce their tax bills, and achieve financial independence.     Topics on Today’s Episode: Susan introduces herself and provides a disclaimer. Susan is not a lawyer, CPA, or certified financial advisor, and does not offer legal or tax advice. The information she shares is only for educational purposes, and everyone should do their own due diligence.  How Susan went from a humble beginning in rural Appalachia to building a current portfolio that generates over 5 figures monthly passive income. She found inspiration to grow wealth and promote financial independence, through her mother’s experience. Susan also provides some details about her personal portfolio.  What is tax optimization and why you should do it? The 2 biggest wealth killers are taxes and inflation.  Tax laws were fundamentally put in place to shape the economy; tax shelters were put in place to promote housing and job creation. The government rewards investment into these sectors and not utilizing the tax deductions legally available to you is stealing from yourself and your family.  Most CPAs are not trained in real estate investment so they can only offer limited advice, it is up to each individual investor to become educated in real estate specific tax shelters. Knowledge is power over your personal tax situation.  “Tax buckets” and Depreciation. The IRS splits your income into 3 distinct buckets: active, portfolio, and passive. Gains and losses in each bucket are separated and typically cannot be combined.  Active income: W2 income, running a business or an LLC, or if you have Real Estate Professional status. Short-term rentals are considered an active business if self-managed, as is active house flipping as your primary job. Active income incurs income taxes as well as 15.3% self-employment tax.  If your AGI is below $100,000 per year, you can take up to $25k in passive real estate losses-One of the few places passive and active income might interact.  Portfolio income: Stock and bond sales, dividends, interest from accounts or owner financing interest, and sales of non-business assets such as a non-rental home. These are taxed as capital gains or losses.  Passive income: Rental income whether s...