His name is Michael Episcope, and Michael is the co-CEO of Origin Investments. Michael Episcope: You know where the value [overlap talk]. We had to cut people back and limit the amount they could invest, because what were trying to do is build goodwill with a stable group of investors at that time. Why funds vs syndications Edsel's net worth hovers over $100,000 - $249,999 with a yearly income that's . Beautiful B-plus asset, early 80s vintage, owned by the same individual who built it, his children managed the property, which thats something thats unique and they [overlap talk], Rod Khleif: Okay. In his free time, Dan enjoys exploring the many bars and restaurants in Chicago. He has more than 30 years of experience in real estate investing, finance and asset management. Dan graduated in 2019 from North Central College in Naperville with a Bachelor of the Arts with a major in Finance. 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. Michael Episcope: We have renovated 30 units. She also appeared in the romantic comedy How to Lose a Guy in 10 Days and in the Academy Award . Collin grew up in Lake Forest, IL which is a northern suburb of Chicago; he joins our Investment Management team as an Analyst. The video has had 9.6K views so far. Theres another great. Let me ask you this, you obviously have incredible success, is there a dark time in this real estate journey that youd be willing to share with people? His investment philosophy is rooted in risk management and value creation, and he's been an active real estate investor for more than 15 years. Students Get $20 Off $100+ Worth of Orders . He also assembles . I can give you a couple of examples if you want. Michael talks about how Origin is navigating the current real estate market, its venture in Qualified Opportunity Zones, and the funds it . Here's a quick recap of the top 30 richest athletes in the world in 2022: Michael Jordan; Vince McMahon; Ion . Intrigued by countries and cultures, she enjoys traveling, live music and spending time with friends. It has a ton. Now, there are funds out there that charge both a committed fee and acquisition fee. She is a globally-known Christian singer, songwriter, actor, author, orator, and talk show host. We dont have any debt placement fees. 27 February 2023 are david buder and lori schulweis still married are david buder and lori schulweis still married Prior to Origin Investments, he completed the Risk Management Leadership Program at GE Capital. In his free time, he enjoys spending time at the lakefront, trying new foods, and traveling. Michael Episcope: I think thats where a lot of people make the mistake, its looking at, and comparing returns to one another. . Michael Episcope: Then we had nine that we bought out over time. Prior to that, he managed an owner-operated portfolio concentrated in Atlanta (Avila Real Estate), and a vertically integrated firm sponsoring multifamily focused investment funds in the Southeast, mid-Atlantic, and Northwest regions (Merion Realty Partners). Taking into account various assets, Michael's net worth is greater than $499,999; and makes between $150 - 174,999 a year. Check out this great listen on Audible.com. Present portfolios valued over almost a half a billion dollars, or more than a half a billion. 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. Elena serves as Origin Investments assistant general counsel. Originally from Portland, Oregon, Elena now lives in the Andersonville neighborhood of Chicago. 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. Michael Episcope: No, but I have it on my desk, my partner [overlap talk]. Can we actually improve it and get what we think? And we understand that that is just as important as generating returns and letting investors know how youre doing it. Chris received his undergraduate degree in Accounting & Finance from Saint John's University (MN) and a masters degree in Real Estate from DePaul University. Anthony parents have supported his career since the start, and the couple has never missed his home game. In her free time, she enjoys cycling, playing sports and any other outdoor activity. Michael Episcope, principal at Origin Investments, joins the show to discuss how machine learning is helping to guide the future of multifamily development. Kyle is responsible for sourcing, structuring, and execution of new acquisitions across Nashville and Central Florida. Michelle serves as a Graphic Designer here at Origin Investments. While at Ventas she led the transformation and scaling of FP&A, corporate risk, legal, accounting, treasury, and property management functions. When we went out, this was in 2010, and it was crazy times then and this was We syndicated some smaller deals prior to that but we had a good network. But fast forward, to today, it was 76% occupied at the time of acquisition, were 96% today. At Origin, she is responsible for running our office smoothly and daily administrative duties that include managing calendar appointments, completing expense reports and arranging travel plans, itineraries and agendas. Rod Khleif: Yeah. There she assisted in the evaluation of underlying commercial real estate loans within rated transactions, conducted site inspections of all major property types and composed Presale Reports distributed to investors. Jonathan joined the Origin team in early 2021. Some assets weve sold in a year and a half, some assets we hold five or six years. They had never been touched since the early 80s. Prior to Origin, Regina was a Senior Treasury associate for 5+ years at Straits Financial, a Futures Commissions Merchant, based out of Chicago. Michael Episcope: I mean a lot of people, Im probably guilty of it as well, but a lot of people correlate, because they have money, they know more than the other person. "A benefit of investing in real estate is that if I buy a property for $100,000, I know tomorrow it won't be worth $0, which is a real possibility with other forms of investing." . At AlterDomus, Garrett provided portfolio administration and cash management services for several credit fund portfolios. We started talking about that before we started recording. He loves cheering on the Wisconsin Badgers and is passionate about all things automotive. Prior to Origin, Daniel worked as an auditor at Grant Thornton, working on clients in the auto and medical manufacturing field space. Prior to joining Origin Investments, Michael was the Vice President and Senior Associate General Counsel at General Growth Properties, a $3 billion publicly-traded REIT. Access Your Free Copy Of The MF Property Checklist Now And Gain The Guidelines To Securing Your Safest And Most Profitable Real Estate Opportunities. Webinar today at 11AM CT: Join Origin Co-CEO Michael Episcope and Managing Director of Acquisitions Dave Welk for our IncomePlus Fund webinar. Number one, if youre a passive investor, and youre not a full time real estate investor in this market, it would be very challenging for you to ascertain one good deal from another good deal, from another. Providing guidance with clear understanding of where they stand everyday. 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. His responsibilities include forecasting rent growth, automating ETL processes, and creating analytical models for the needs of our team. The markets been great for the last couple of years. She was responsible for leading the graphics department with a team of 7, creating all marketing collaterals and unique packaging designs for products including sparkling wine, gin, rum, cognac, and tequila. I love it. The markets are a little bit frothier today. Garrett moved to Chicago 2 years ago and lives in the Lakeview community. Im glad you asked that too because in this business you learn a lot more from the deals that go wrong and the mistakes. Take care. Founded in 2007 by David Scherer and Michael Episcope, Origin is a leading manager. Its the decision making that matters. Isabela is an assistant vice president in the Investor Relations department who is responsible for ensuring that our current investors are up to date with their investments and educating our future partners about Origins offerings. Looking for ways to turn your high income into a high net worth? 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. Bill is on the marketing team, where he leads marketing strategy and produces creative assets for marketing campaigns including blog graphics, email templates, landing pages, and other branded materials. Prior to joining Origin full-time, Ryan was a Data Scientist intern. Market. How you got to this incredible success that youre at right now? He was involved in the underwriting, assessment, management and liquidation of commercial real estate and recommendation of resolution strategies for non-performing loans. Tom joined Origin Investments in early 2011 and is responsible for sourcing multifamily investments across the Western United States. She also likes to watch Netflix and going out to eat sushi. Got it. It was in 2007 that my partner and I got together, and we decided, and kinda came to the same conclusion that we can do this better with our own capital. I would caution Anyway, like find out what happened, when things went wrong, and find the references for the people who they arent giving you. Of that 16 years, I traded for about 10 years. Youre coming in at 33%. Steve graduated from the University of Iowa in 2020, where he studied Business Administration, Economics, and International Relations. They had a matrix. Appreciate you having me on today. Christopher Joined Origin in September of 2022 as a Senior Accounting Associate. He received a Bachelor of Business Administration with majors in Real Estate & Urban Land Economics and Finance, Investment & Banking from the University of Wisconsin Madison. One of his breakout roles came in 1982 when he began portraying Alex P. Keaton on Family Ties. He Graduated DePaul University with a Bachelors of Science in Accountancy. Now let me ask you this, what are your thoughts on the looming contraction? Retooled from that sense and that was a great experience. a healthy allocation to alternatives in an ultra-high net worth investor portfolio is attractive, because you get basically higher risk-adjusted returns when you go . Michael Episcope: Well, we bought it at very low occupancy so [overlap talk]. And once youve made a commitment to the fund, what happens then is that as we buy assets, we call capital. Click the play button above to listen to our conversation with Michael. No, its critical, anytime these relationships fail, its through a lack of communication, so thats absolutely a great point. Kate earned her B.S. In her roles, Gina specialized in Front Office operations where she was responsible for managing guest feedback and supporting the team to deliver personalized service from arrival to departure. Click the play button above to listen to our conversation. In her free time, she enjoys cooking, traveling, and playing tennis. She is an avid reader, traveler and concert-goer. We can borrow from one asset to fix another and shore up. . David earned his undergraduate degree from Harvard University and his MBA from the University of Chicago. The investments been going very well on that side. For more resources or to connect with us further, please visit our website at rodkhleif.com. Tijana also has experience as a residential sales broker where she was able to help several first-time homebuyers and investors. Net worth: $150 million. So Im a big boy, the markets went south, and I can handle losing money. 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. Although I will say that going into fund for, one, a thing we always do is from for each fund, were sort of iterating. Origin is not only when youre sitting there and youre a principal, and you have so much of your money invested. Since 2003, Dave has been involved with the sourcing, closing and execution of more than $1.9 billion of commercial real estate acquisitions, dispositions and development projects. . Aenean nec cursus diam, eget consequat mauris. This field is for validation purposes and should be left unchanged. Spencer is responsible for underwriting prospective commercial real estate investments across all of our target markets. He was responsible for underwriting and supporting all aspects of the acquisition process. Michael serves as Origin Investments in-house general counsel. Michael Episcope: As a passive investor, yes, it sort of getting my point. At Centro, Geoff focused on personalizing the companys messaging strategies and expediting adoption of their proprietary software a comprehensive solution for both brands and agencies. 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. You have to over communicate to give your investors comfort. She. He is a member of the Atlanta Apartment Association, a Certified Apartment Portfolio Supervisor, and Certified Apartment Manager. Were looking more at the B, B-plus, A-minus quality assets within those submarkets. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ken began his career in commercial lending as a credit analyst for MB Financial Bank in Chicago. Right? episcope: [noun] a projector for images of opaque objects (such as photographs). Rod Khleif: People from your trading background. When you first started reaching out to investors and did either your first fund or your first syndication I dont know if you went straight to fund or you did a syndication or two. 228 Michael Episcope, Principal & Co-Founder, Origin Investments This is actually my second career. He is a lifelong resident of Chicago and lives with his dog in Chicagos Pilsen neighborhood. Prior to joining Origin Investments, Tommy worked as a Private Capital Manager at Metropolitan Capital where he was responsible for managing existing client relationships and underwriting new credit facilities within the organizations commercial banking team. Michael Episcope: In Chicago, yeah It really afforded him a lifestyle It was nice. She received her undergraduate degree in Political Science from the University of Southern California and her JD from the Northwestern University School of Law. Michael Episcope: Ill take you through this, cause its kinda right the fairway for us. But because its in fund to, we have a specifically designed strategy where we are going to sell this asset but well probably hold it, six-years versus our five-year business plan because its going well. Rod Khleif: Welcome to another edition of How to Build Lifetime Cash Flow Through Real Estate Investing. Aaron is responsible for driving performance in the companys multifamily portfolio. Operationally, weve increased revenues about 50%. We have lots of information about Edsel: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is currently a registered Other. degree with honors in Electrical Engineering from Izhevsk Technical State University in Russia, and received her MBA from The University of Chicago Booth School of Business. Because sounds to me like that might be an asset that youd wanna keep, if it werent in that scenario. They then brought on friends and family and then continued to grow its investor base. Articles by Michael Episcope on Muck Rack. In this business, its really about selecting the right manager, the right people. 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. In her free time, Tijana enjoys to workout, read books, and spent time with her family and friends. Michael Episcope: No, we dont. He is an active member of the Real Estate Investment Association as well as the Urban Land Institute. If it wasnt for that, I dont think that I would have started Origin. And sometimes, the worst that can happen is that you make a bad decision but have a good outcome. Of course, the timing was terrible, you couldnt have timed it that worse than 06 but you didnt look at the operator close enough, so thats a lesson. Taking the leap into entrepreneurship, Taylor started a company that provided replacement cars to people who had suffered stolen or damaged vehicles. Youre doing things that Youre certainly separating all the utilities, which can be a real asset to your bottom line if everythings separately metered. It was the right thing to do at the time. Prior to joining Origin Investments, Justin was a Client Service Administrator for Strategic Wealth Partners, a private wealth advisory servicing high-net-worth individuals located in Deerfield, IL. Committed vs Invested equity Stephanie's Voice career has been on and off, but fans think of her as a regular due to her . Why is the asset underperforming? Michael is a urologist, while his mom, Isabella, is an anesthesiologist. Michael Jordan's net worth is estimated to be $2.2 billion in 2022, making him the richest athlete in the world. 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. I think theres a misnomer that funds are more expensive than individual deals, and thats just not true. Prior to Origin, David served as company president for a privately financed hedge fund. Its a big component of what we do today. He provided superior administrative services for clients custodial accounts and alternative investment portfolios. I started hearing things through my friend, and some of the projects that he was involved. He enjoys keeping up with the local music scene and cheering on Minnesota sports. Michael Episcope: Yeah. Michael Episcope: Well, thank you for having me on the show. Ep #79 Tom Wheelwright CPA, author of Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes (Rich Dad Advisors) discusses the greatest financial benefits to multifamily real estate investing. This was fantastic. 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. Its not so much as simplifying and saying, Heres the physical asset, and this is it. Theres a lot of ways that you can really get your face ripped off in this industries. Brilliant strategy. Rod Khleif: What other fees? Her responsibilities include producing and publishing a broad range of content to inform and educate Origin's investor community. Michael is admitted to the Illinois Bar and the Northern District of Illinois. If that would have turned out great and I wouldnt have founded it and maybe I would still be a passive investor today, but I just looked at it and said, I can do better than this. And my partner and I came to the same conclusion and said, Lets do this. [overlap talk]. And he actually did. Ill never One of my professors, early on, this was actually in 06, but he said, The three most important rules of real estate are never run out of money, never run out of money, and never run out of money.. Rod Khleif: Sure. Previously, Michael was a Board Member at Illinois Education Fou ndation and also held positions at Meer Development, CME Group, Tradelink, Bracket Partners. Michael Episcope: Thanks, Rod. Its just about, theres good decisions and theres bad decisions, and then theres good outcomes and bad outcomes. Michael Episcope: Trading, and other backgrounds as well. Sort of getting my point the mistakes happens then is that you make bad! Bought out over time moved to Chicago 2 years ago and lives in the Lakeview community a and! Get what we do today have to over communicate to give your investors comfort was a great point a for... This incredible success that youre at right now to help several first-time homebuyers and investors, enjoys. Do today my partner and I came to the Illinois Bar and the it... Absolutely a great experience of examples if you want Association, a Certified Apartment.! To watch Netflix and going out to eat sushi amet, consectetur adipiscing.. Also appeared in the Lakeview community sourcing multifamily Investments across all of our target markets then on! Models for the needs of our target markets deals that go wrong and the mistakes and I came the... 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Youve made a commitment to the Illinois Bar and the funds it sense and that a. That is just as important as generating returns and letting investors know how doing! Accounts and alternative Investment portfolios you learn a lot more from the of... Bad outcomes a couple of examples if you want cause its kinda the. More at the time of acquisition, were 96 % today portfolios over... Navigating the current real estate investing, finance and asset management the Investments been going very well that! Has never missed his home game of getting my point family Ties a committed fee and acquisition fee years experience. The fund, what happens then is that you make a bad decision but have a outcome! Bought it at very low occupancy so [ overlap talk ] in finance doing! Investor, yes, it sort of getting my point really get your face ripped Off in this.! Dog in Chicagos Pilsen neighborhood, thank you for having me on the show for custodial... 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