I mentioned earlier in the podcast, I had done some passive investing even prior to Origin. Anthony parents have supported his career since the start, and the couple has never missed his home game. Spencer is responsible for underwriting prospective commercial real estate investments across all of our target markets. Ivette serves as a Paralegal here at Origin Investments. Theyre truly a trillion dollar funds these days; in the stock market, that is. Category: Richest Celebrities Actors Net Worth: $350 Million Date of Birth: Sep 25, 1944 (78 years old) Place of Birth: New Brunswick Gender: Male Height: 5 ft 10 in (1.78 m) Bill has 20 years of experience in all facets of multifamily development and construction totaling over four thousand units and $1.5 billion in project costs. Find Michael Episcope's email address, contact information, LinkedIn, Twitter, other social media and more. He enjoys keeping up with the local music scene and cheering on Minnesota sports. Stephanie's Voice career has been on and off, but fans think of her as a regular due to her . Tijana worked 4 years at Aon on the property and casualty insurance market for construction. Although I will say that going into fund for, one, a thing we always do is from for each fund, were sort of iterating. Yeah, Im just reading Ray Dalios book, Principles, all about decision making. Michael Episcope unpacks opportunity zone investing misconceptions and explores the potential benefits of adding alternative assets to a portfolio. Michael is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. Michael Episcope: Yeah. .. And also, once weve improved the asset and grown the top-line revenues, then we may hold it for a couple or more years to generate the cash flow, and increase the multiple on equity. Give us an idea of what sorts of things you might do to add value to a nicer asset like that. a private equity real estate firm serving nearly 3,000 high-net-worth individuals. Soon after graduating, he worked in the Transfers department at Millennium Trust. Origin builds, buys, and lends to class A multifamily real estate in tax and . - Michael Episcope "Our mission from day one was to help high net-worth investors, grow their wealth, generate tax-efficient passive income, and just bringing that institutional product to people like us, people who deserved a better way to invest." Following his time at MB and prior to joining Origin, Ken worked as a project manager for Landmark Building Group. Of that 16 years, I traded for about 10 years. Elena serves as Origin Investments assistant general counsel. 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. It was in the late 90s, early 2000s that I began passive investing. Were looking more at the B, B-plus, A-minus quality assets within those submarkets. Tijana received a Bachelor of Arts in Data Science and Global Business from Mount Holyoke College and is a licensed sales Broker in Illinois. Rod Khleif: Sure. 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. Were under contract for the very last unit, so its taken a while to buy the other 18, but I will say that the condo owners were really stuck as well because you cant sell a condo in a broken structure. We have lots of information about Edsel: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is currently a registered Other. The investments been going very well on that side. Rod Khleif: But you realize the long-term value of blowing these investors minds with these incredible returns. As of 2021, Michael B. Jordan's net worth is estimated to be around $25 million. Interesting. Retooled from that sense and that was a great experience. Seasons: 7, 9, 12, 17, 19, 22. Before Origin Investments, Aaron worked at Steadfast Management Company, an owner and investor in over 40k units nationwide. Adolfo Bermeo. It all is influenced by that notion of alignment, and where you sit. Even when it comes to things like understanding what investors want, I think were A lot of manager, they dont understand the importance of reporting, and communicating, and thats something that weve taken to heart. Previously she studied accounting as a undergrad at Capital University of Economic and Business in China. Heres some of what you will learn: Tom currently resides in Denver with his wife and children, is a cyclist, skier and loves to travel. Michael brings 25 years of investment and risk management experience to the company and believes that calculated risk-taking in inefficient markets is the key to building wealth. Thats anywhere between 1.5% and 3% on one time. Michael Episcope: Yeah. The more weve refined our strategy over the years, and actually narrow the focus, the more prolific and just more efficient weve become at finding deals. Michael Episcope: Yeah. We sort of stopped and said, Look, we can take this down with our own capital but what do we want to be when we grow up. And then within those submarkets, we focus more on the high-income demographic areas. In this role she led cross-functional project teams responsible for reorganization of legacy business functions within the firm. But we have adopted an institutional fee structure. In her current role, Priya oversees Origins fund and corporate-level financial operations, executes year-end audits, interfaces with the tax team, tracks corporate performance, and manages reporting requirements of lenders, general partners and other stakeholders. Rod Khleif: You have to be continually learning. In any deal, first of all, theres nothing more expensive than low cost real estate, so investors have to be careful about making determination based on fees alone. There is where she assisted in all real estate transactions including Residential, Commercial, and Real Estate Bank Owned properties. Its a different way of getting to the same place. Again, I came from the commodities trading world where they say being a good trader was more about risk management than trying to make money. On-going then its 1.5% on the fund on an annual basis. Rod Khleif: Exactly. The HVC all those things. 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. By the time the partners closed a $151 million fund raised from 450 investors last June, they'd transformed the company into something different: a real estate private equity fund that uses crowdfunding-like tactics to raise money from family offices and high-net-worth individuals. He is the co-CEO of Origin Investments, a private equity real estate firm that serves close to 3,000 high net worth individuals. Kate's true passion (outside of work) is investing and advising early-stage startups. 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. Rod Khleif: Awesome. His responsibilities include forecasting rent growth, automating ETL processes, and creating analytical models for the needs of our team. 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. A no big deal apartment building, but the individual who were investing with, he didnt have a tremendous amount of experience. I mean, theyre yours; they are your rabid fans. Thank you. Since its start in 2007, the firm has executed $1 billion in real estate transactions and has more. Michael Episcope: Yeah, management of cash flow. Rod Khleif: Those that dont know what hes talking about here, back when things were going fast and loose in 05, 06, 07, a lot of apartment owners were condo-mizing those apartment complexes and selling them off one at a time. There he coordinated, deployed, and measured lead-generating campaigns and promotions that led to YoY growth in core markets. 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. Michael brings 25 years of investment and risk management experience to the company and believes that calculat. Wedge Brands, an outdoor industry holdings company, got $1M from a group . When we walked into these units, the 264 that we did acquire It was like waking into a time warp. Thank you for listening to the Lifetime Cash Flow Through Real Estate Investing Podcast. Michael Episcope: I was just like, Oh my god, now thats just borderline fraud. Rod Khleif: Its a fantastic book about an effective decision making process. Why real estate? As one of Americas top real estate professionals Rod mentors business leaders and entrepreneurs through world-class speaking events, books, and training courses online and around the world. All of a sudden, I came across this website where it was a hard money lender where this sponsors name was involved, and what he had done is took our property which was fine, wasnt underwater, it had plenty of equity, and he pledged it for a loan for another property. Kyle lives in The Nations neighborhood of Nashville. Before joining Origin, he was the Digital Marketing Manager at Evolve Healthcare Marketing, which partnered with the nations leading private equity-backed healthcare businesses. [chuckles]. If you can build value and continue to build cash flow in the asset, we leverage two to one to equity. Bill is responsible for the performance of Origins multifamily projects and leads due diligence and pre-construction efforts. Prior to joining Origin, Suyen spent 8 years at BlackRock as a Vice President on the Portfolio Management team covering Residential Credit. He primarily oversees investor relations, marketing, and company operations. That was kinda the impetus of us starting together. I think that the smart investor is one who is humble and understands what he knows, and what he doesnt. Christopher enjoys playing basketball, board games and video games. Were very good at managing our contingent liabilities, looking at risk in individual asset level than the portfolio level as well. Michael Episcope Co-CEO Connect In 2007, Michael Episcope co-founded Origin Investments, a top-decile fund manager that helps high-net-worth investors, family offices and registered investment advisors grow and preserve wealth by providing best-in-class real estate solutions. We need to know that theres robust job market growth in there. In his free time, he enjoys playing basketball, traveling and spending time with his friends and family. Between my freshman and sophomore year, I got a job on the floor of the Chicago Mercantile Exchange, and decided I loved it, and that was the start of a 16-year career there. The importance of risk management Rod Khleif: Gives a diversification of risk, for sure. Number 7: Kenneth Tuchman. Regina received her Bachelors in Accounting from the University of Illinois at Chicago. He also assembles . Michael Episcope: Yeah. "We believe that investors deserve the most talented and disciplined team to actively manage their real estate investing portfolio. Kevin was a member of the development & acquisitions teams focused on large multifamily driven mixed-use developments in the Washington, DC area. Rod Khleif: Welcome to another edition of How to Build Lifetime Cash Flow Through Real Estate Investing. 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. What is the proper cap rate? Michael earned his undergraduate and masters degrees from DePaul University. Michael Episcope: Were in Chicago, Denver, Dallas, Austin, Houston, and then Charlotte, Raleigh, and Atlanta. Its the decision making that matters. I mean, these are Rod, youre really experienced in this area as well, but these are little mini companies that you have. Well its a combination of renovating units, raising rents, tapping in some of the other ancillary revenues. Thats not what happened here; what happened here was that he was an individual syndicator without a lot of money of his own. Intrigued by countries and cultures, she enjoys traveling, live music and spending time with friends. Rod Khleif: Its the most important parameters. Cody is a Senior Accounting Associate here at Origin Investments. She joined Origin in early 2017 after spending nearly a decade at Morningstar, Inc., a leading provider of independent investment research. Because sounds to me like that might be an asset that youd wanna keep, if it werent in that scenario. Michael Episcope: Well, we bought it at very low occupancy so [overlap talk]. There he led operations with his 11-years of experience in leasing & marketing, value-add construction management, property management technology, and training. I mean, everybody thinks this journey to success is easy. Prior to joining Origin, Spencer began his career as an Analyst at Blue Vista Capital Management. What are your thoughts about whats coming up and on the horizon? Michael Episcope says he found himself with over 20 hours a week of free time as a result of Chicago's shelter-in-place order, issued on March 20. . He had sold 19 out of 283 units so what we did is, we came in there and bought 264 apartment units with the idea that we were gonna buy the other 19 units, put Humpty-Dumpty back together again. And also by vintage as well, which is important because we will be investing over a period of two to three year and building that portfolio. Prior to joining PRG, she served as Financial Analyst for DBRS, a credit rating agency for commercial mortgage-backed securities, from 2015-2017. Kyle is responsible for sourcing, structuring, and execution of new acquisitions across Nashville and Central Florida. As Principal, David co-chairs the Investment Committee and oversees the analysis, acquisition, and asset management teams at Origin. Michael Episcope: I think its not that we believe in timing the market. Ep #183 Grant Cardone Controls Over 4,000 Apartments Worth Over a Half a Billion Dollars. Phil received a Bachelor of Science with a major in Finance from the Wharton School of Business at the University of Pennsylvania. Kate is a mentor at the Polsky Center for Entrepreneurship, a startup incubator at the University of Chicago, and serves on the board of BANC, a University of Chicago Booth School of Business nonprofit consulting organization. ", - David Scherer, Co-CEO of Origin Investments. I love it. But we talked about the buy-fix-sell, thats more of a buy-fix-hold and sell in about four years. You have to over communicate to give your investors comfort. Michael Episcope is a Principal at Origin Investments based in Chicago, Illinois. Michael Episcope: We have renovated 30 units. Victoria joined the firm in late 2021 and serves as an investor support specialist. Michael Episcope: Nobodys gonna buy it. Prior to Origin, Victoria worked at US Bank within the Wealth Management Division as a Portfolio Administrator II. Michael Episcope: Yeah. 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