Prior to joining PRG, she served as Financial Analyst for DBRS, a credit rating agency for commercial mortgage-backed securities, from 2015-2017. Michael is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. Jacob is responsible for underwriting prospective commercial real estate investments across all property types and target markets. If you got a homerun deal And so you actually limited their investments so you could have more people in it, have more people that experience s fantastic return on that particular deal, because Ill tell you guys, once you make someone some money, youve got them. The ones that didnt go so well, I learned quite a bit. Why to over communicate Preston received a Bachelor of Business Administration majoring in Real Estate and Urban Land Economics from the University of Wisconsin-Madison. Michael brings 25 years of investment and risk management experience to Origin. 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. Theyre truly a trillion dollar funds these days; in the stock market, that is. Steve is an Investor Relations Associate whose responsibilities include expanding the firms investor base and serving the needs of our high-net worth individual investors. Developers have enjoyed years of consistent, reliable rental rate growth, with the average rent growing 13.5% in 2021 and another 6.2% last year, according to Yardi Matrix. Any investment opportunities mentioned on this podcast are limited to accredited investors. Ut porttitor ligula eu elit ornare tincidunt. Cardone currently owns more than 4,000 multifamily units with a current portfolio value of $350,000,000. Well, I heard somebody else bring this up. Thats a big clue guys. Now, that money can be spread across 15 to 20 deals over asset class because we do multifamily and office by geography, cause were in eight different cities around the United States. 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. The investments been going very well on that side. A business plan generally takes anywhere from 18 to 36 months, and instead of generating 7%, a stabilized asset, maybe well generate 12% in two years and well get some level of appreciation. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. They had a matrix. Michael Episcope: Yeah. Michael Episcope: I was just like, Oh my god, now thats just borderline fraud. No. Tom currently resides in Denver with his wife and children, is a cyclist, skier and loves to travel. Therefore, American journalist Michael S. Schmidt has an estimated net worth of $2 million. So if things do happen, youll be able to ride the ship. Before Origin Investments, Aaron worked at Steadfast Management Company, an owner and investor in over 40k units nationwide. Dan graduated in 2019 from North Central College in Naperville with a Bachelor of the Arts with a major in Finance. I know you do multifamily and office but obviously our focus is multifamily, but talk about how you get going. Im glad you asked that too because in this business you learn a lot more from the deals that go wrong and the mistakes. Rod Khleif: But you realize the long-term value of blowing these investors minds with these incredible returns. Michael is joining us from Chicago, Illinois. Michael Episcope: It came to fruition in 08. Billionaire number 1,567. Vince joined Origin in 2017 and he leads Origins fundraising and investor relations department. It all is influenced by that notion of alignment, and where you sit. This was consistent with the thesis. Prior to Centro, Geoff spent over a decade in marketing for higher education institutions, non-profits, and startups. I saw the impact that a good real estate Proper real estate investing could make. Kate Khazin leads investor relations and is responsible for scaling internal processes to fuel Origins explosive growth. Some went fine and some that didnt go so well. And thats really where I built my wealth. Whether you're a first-time or seasoned investor, you've probably heard your peers discuss some of the great deals they've made by investing in distressed real Geoff joined Origin in the spring of 2021 after spending two years at Centro, an advertising technology firm headquartered in Chicago. Prior to joining Origin, Bill orchestrated due diligence, entitlements, pre-construction, self-perform construction, and owners representative duties at Core Spaces and Gables Residential. We actually just acquired an asset. Dan currently lives in Uptown, enjoys golf, and cheering for the Detroit Lions! Isabela was formerly a Senior Financial Analyst with Pritzker Realty Group where she was responsible for providing underwriting support and market research in relation to PRG's acquisition, disposition, financing and asset management activities. Michael Episcope: We have renovated 30 units. In his current role, Ken is responsible for the execution of asset-level strategies and business plans and oversight of development projects from the time of acquisition throughout the deal lifecycle to disposition. She currently resides in Evansville, Indiana USA. The 3 most important rules of real estate (No Ratings Yet) Im Rod Khleif and Im thrilled youre here. Webinar today at 11AM CT: Join Origin Co-CEO Michael Episcope and Managing Director of Acquisitions Dave Welk for our IncomePlus Fund webinar. I think that the risk is exponential when you start managing other peoples money. Rod Khleif: The lesson was, you looked at the asset and the asset looked great. She is an avid reader, traveler and concert-goer. Michael Episcope: You know where the value [overlap talk]. Yeah, Im just reading Ray Dalios book, Principles, all about decision making. We have a real powerhouse on the show today. 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. Its very unusual. The Estate of Michael Jackson is a legal entity established following the death of American singer Michael Jackson for the purpose of administering the property of Jackson, . During the summer, Grace enjoys biking along Lakeshore Drive and makes the most of the big city by exploring new places, museums, parks, restaurants and festivals. Priya is the controller of Origin Investments and joined the team in June 2009. We pulled our capital together, and we built a firm. Victoria graduated from St. Olaf College where she received a Bachelor of Arts in Economics with an emphasis in Finance. It has a ton. He enjoys traveling with his family, snowboarding, and frequents ski resorts all over North America. Michael Episcope: Well, we bought it at very low occupancy so [overlap talk]. Prior to Origin, Michael had a prolific trading career and twice was named one of the top 100 traders in the world by Trader Monthly Magazine. How about some seminars, or times you got your nose bloodied, or learning experiences? I was sort of the 35 years of age, I was the old guy in the class, which was kinda fun as well but I just believe in continuing education, learning and things like that. Michael Episcope: No, we dont. Any investments will only be made with proper disclosure and subscription documentation, and subject to all applicable laws. We talked a little bit about the fee structure, and the importance of that. Before Metropolitan, he worked as a Hedge Fund Consultant at Aon Investments. How you got to this incredible success that youre at right now? Michael Jordan is a retired American basketball player, team owner, product endorser and entrepreneur. Advertisement In his will, MJ left 40 per cent of his assets to his three children, to be split equally. He also enjoys performing sketch and improv comedy at the Second City. He earned an MBA with a concentration in Real Estate Finance & Investment from DePaul University and Bachelor of Science with a degree in Finance from The University of Central Florida. He worked closely with the Acquisitions team to build the foundation of Origin Multilytics. It really, funders charge differently. Before joining Origin Investments in 2015, Marc served as Vice President of Asset Strategy at Lightstone, a New York investment firm with $2 billion of assets under management. Origin builds, buys, and lends to class A multifamily real estate in tax and . Michael Episcope: As a passive investor, yes, it sort of getting my point. . Michael Episcope: Trading, and other backgrounds as well. I mean, theyre yours; they are your rabid fans. Jonathan is a Posse Scholar and received his Bachelors degree with a major in Media Studies from Pomona College in Claremont, California. Michael Episcope: Potentially, yeah, if it were an individual asset thats not the strategy. Before ELS, she worked at Lilis Energy in Dallas, Texas, as an analyst cross-specializing in investor relations and transaction work. Rod Khleif: Sure. A no big deal apartment building, but the individual who were investing with, he didnt have a tremendous amount of experience. Total assets under management, $2 billion. There he coordinated, deployed, and measured lead-generating campaigns and promotions that led to YoY growth in core markets. Michael Episcope: And I will tell you, Rod that is the common theme. Michael Episcope: While in a fund structure, if you have one deal that needs capital and the other deal is doing very well and spewing off cash flow, all of that cash flow rolls up to the fund. Christopher enjoys playing basketball, board games and video games. They will be clamoring to give you money, and to tell all their friends to give you money. He was an Evans Scholar recipient at Michigan State University and is still active in the community, being a part of the alumni leadership council and alumni mentorship programs. So many, I would say 50% of them, we were able to buy back in the first three months and people were so thankful to us even to come there to provide them with an exit strategy. Net Worth: Relationship: Kids: Edit this Information. His name is Michael Episcope, and Michael is the co-CEO of Origin Investments. When it all crashed and burned, there were a lot of broken ones where some of the units have been sold. I agree. Michael Episcope: Yeah, especially in assets because were more of a buy-fix-sell strategy where were buying underperforming assets and if we lose a tenant or we have to backfill a tenant, we need to do that. I mean, everybody thinks this journey to success is easy.
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