CRE Clarity

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have an amazing guest for you, one of the country’s top real estate trainers, Rod Khleif. Rod is a real estate investor, author, multifamily mentor, and podcast host who owned thousands of units in his career. In our conversation, we talk about how Rod built his insane portfolio, what is about to come in the near future in the real estate industry, and how to mitigate risks in your investments.

Learn more about Rod and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“Cashflow is everything.”

05:14

Rod moved to the United States from the Netherlands with his mother and brother when he was 6 years old. He had a humble upbringing, but his mom was very entrepreneurial and inspired him to invest his money from an early age. 

Rod chose not to attend college but go straight to get his real estate license. He became successful fast and built a huge portfolio. However, in the 2008 crash, he lost almost $50M in investments. This made him a more conservative investor, and over time created even bigger success for himself.

“There's going to be an incredible opportunity in the near future. Some people say it could be the greatest transfer of wealth we experienced in our lifetimes.”

12:36

Rod talks about some of the risks he sees in the current market, and how these can cause complications in the future.

• Operators are overleveraging debt and bridge debt became common which creates skinny deals.
• The United States printed so much money in the last few years that it’s increasing interest rates and inflation. This can cause a recession or even a depression in the upcoming years.

Rod shares his best pieces of advice on how to mitigate real estate risk in the current market.

• Be very conservative in your underwriting.
• Cash is king in a crisis so focus on cash-flowing deals.
• Your mindset is very important. Focus on your goals and learn as much about the current market as possible. 
• Be a specialist and not a generalist. Specialize in one asset class and become an expert in it.

About our Guest, Rod Khleif

Rod Khleif is an entrepreneur, real estate investor, multiple business owner, author, mentor, and community philanthropist who is passionate about business, life, success, and giving back. As one of the country’s top real estate trainers, Rod has personally owned and managed over 2,000 properties.

Rod is the Host of the Top-Ranked iTunes Real Estate Podcast which has been downloaded more than 13,000,000 times – “The Lifetime Cash Flow Through Real Estate Investing Podcast.” Rod is the author of the #1 best-selling book “How to Create Lifetime Cash Flow Through Multifamily Properties” considered to be an essential “textbook” for aspiring multifamily investors.

As an accomplished entrepreneur, Rod has built several successful multi-million dollar businesses. As a community philanthropist, Rod founded and directs The Tiny Hands Foundation, which has benefited more than 120,000 community children and families in need. Rod has combined his passion for real estate investing and business development coaching with his personal philosophy of goal setting, envisioning, and manifesting success to become one of America’s top real estate investment and business development trainers.

Mentioned in the show:

1. Multifamilybootcamp.com
2. rodslinks.com
3. His LinkedIn
4. Shineinsurance.com
5. www.shineinsurance.com/managing-commercial-real-estate-risk
6. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Rod Khleif for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 126: Private Lending & Cashflow, With Alex Breshears
• 125: Mindfulness & Professionalism, With Terrie Schauer
• 118: Elevate Your Operations

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Camilla Jeffs, a real estate investor, and educator. She had massive success investing in single-family homes and shares how she shifted to passive investing. We also talk about why the biggest risk is not taking risks, how to help your children to become investors, and the best ways to evaluate a deal.

Learn more about Camilla and her story at shineinsurance.com/managing-commercial-real-estate-risk!

“I didn't think we could afford a house. And then when we got into a house hack, it turned me on to the concept of real estate investing.”

03:54

Camilla first invested in real estate when she was just 22 years old. She did a house hack with her husband because she didn’t want to rent. She fell in love with real estate and started educating herself. 

Her strategy was to buy fixer-uppers, move into them and fix them up in 2 years, then hold on to them for another 3 years for tax purposes. She also bought some four-plexes and in 15 years, grew an impressive portfolio. 

Camilla has 5 children who grew up in this entrepreneurial environment. They are also very involved in real estate now.

“We have to take risks and we have to be okay with it.”

13:58

Camilla talks about what she sees as some of the biggest risks in REI. One of them is not buying the right deal at the right location, but an even bigger risk is not taking any investment risks.

She took another risk in 2019 and started investing in commercial real estate. She is on a journey to turn all her active investments into passive ones.

Camilla shares the top 3 things to focus on when evaluating a deal.

1. Team. Look for an experienced team in the actual type of investment that you’re going for.
2. Market. Find a growing market with job diversity.
3. Deal. Look for a solid business plan that fits your goals.

About our Guest, Camilla Jeffs

Camilla Jeffs is passionate about financial education, building wealth, and living a life by design. She is the Founder and CEO of Steady Stream Investments, a company focused on providing investment opportunities in large multifamily and senior housing communities. With 18 years of experience investing in real estate, she has done everything from live-in flips, single-family rentals, small multifamily, and now large multifamily and assisted living. She specializes in teaching the first-time investor how to achieve passive income and diversify their portfolio. Camilla believes in the investing trifecta, where one can achieve strong financial returns and create social and environmental impact by providing safe, clean, and affordable housing to entire communities. Camilla is a triathlete, an outdoor enthusiast, and a devoted mother to her five amazing children.

Mentioned in the show:

1. https://steadystreaminvestments.com/
2. https://camillajeffs.com/
3. Her LinkedIn
4. Shineinsurance.com
5. www.shineinsurance.com/managing-commercial-real-estate-risk
6. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Camilla Jeffs for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 126: Private Lending & Cashflow, With Alex Breshears
• 125: Mindfulness & Professionalism, With Terrie Schauer
• 118: Elevate Your Operations

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we talk about the risk of falling behind in real estate. Our guest, Gary Wilson, has been an investor for over 30 years and shares how he has stayed on top of the industry. We talk about the 4 ways to limit real estate risk, how to build your property management team, and how to keep up with rapid market changes. You definitely don’t want to miss out on this episode! 

Learn more about Gary and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“Many property management companies are used to traditional long-term rentals. They're not used to Airbnb and corporate housing, and that’s a risk.”

4:58

Gary has been investing in real estate for over 30 years. At the beginning of the conversation, he shares what he sees as the biggest risk in the current market. The world is changing and evolving rapidly and real estate investors have to keep up with all the changes in order to stay in business. One example of that is Airbnb as corporate housing which is a fairly new concept.

Another real estate risk is financing. There are new options for alternative financing for bigger properties, but investors need to be cautious and well-informed about them.

“Your lender, your insurance guy, your attorney, they're all partners. So select your partners wisely.”

10:20

Gary shares his risk management process. He has 4 key ways to limit his real estate risk.

1. Be a good landlord.
   Make sure your property is up to code, safe, clean, and reliable. This is not only beneficial to your tenants but good for your reputation in the industry as well.
   
   
2. Have solid property insurance.
   Avoid injury or death on your property by making it as safe as possible. However, make sure to properly insure yourself if something does happen despite all of your efforts.
   
   
3. Use an LLC for your real estate business.
   LLC gives you anonymity and one degree of separation from liability. Any lawsuit will go to the LLC first and not you personally. A good rule of thumb is to not have more than $1M in assets in any one LLC. On higher levels, you can use trusts instead of LLCs as well.
   
   
4. Have good property management.
   Many people self-manage their properties. However, there’s some risk in that because if you're the owner and the manager as well, you automatically tie yourself directly to the tangible asset. To avoid that, build a good property management team incorporated in a separate LLC. 

About our Guest, Gary Wilson

At age 40, retired as Corporate Vice-President, Mergers & Acquisitions in National Banking;

• In the first 6 months after earning a real estate license, created 6 figure income working with Investors
• Completed over 100 transactions per year consistently every year without a sales team or assistant, with virtually no marketing costs
• Traded over 3,000 Investment properties in less than 5 years
• Developed five real estate holding companies, owning more than 250 Rental Units
• Self-made multi-millionaire by building a real estate enterprise including: brokerage, rental management, investment services, settlement services, and appraisal services
• Award winner and accepted into Andron Apiphenon Order of Excellence for Real Estate
• Author of FIVE Real Estate Investment books: Rental Profits Without The Pain, Flipping For Profits Without The Risk, Turning Rental Problems into Real Estate Profits, Wholesaling For Profits so Everybody Wins, Investor Agent, Make More Money Not More Work
• Founder, Trainer and Coach of Path to Profit System, teaching more than 8,000 Agents and Investors;

Mentioned in the show:

1. https://globalinvestoragent.com/
2. https://www.myinvestmentservices.com/
3. His LinkedIn
4. Shineinsurance.com
5. www.shineinsurance.com/managing-commercial-real-estate-risk
6. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Gary Wilson for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 126: Private Lending & Cashflow, With Alex Breshears
• 125: Mindfulness & Professionalism, With Terrie Schauer
• 118: Elevate Your Operations

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have a great conversation for you about debt and cash flow. Our guest is Alex Breshears, private lender, LP investor, and author. We talk about how to limit your risk by understanding capital, how private lending differs from hard money lending, and how to build your capital stack.

Learn more about Alex and her story at shineinsurance.com/managing-commercial-real-estate-risk!

“That's actually one of the things I love about private lending is that it’s extremely flexible and you can make it anything you want.”

07:05

Alex is a private lender. At the beginning of the episode, she explains that private lending and hard money lending are two very different things. As a private lender, Alex and her business have a certain amount of capital that she lends out to people after underwriting their deals. However, hard money lenders’ funds generally come with strings attached. Borrowers have to fit certain standards in order to qualify for loans.

Alex's advice for people who are interested in becoming a private lender is to be very informed about their state’s laws because brokering has different laws in every state. It’s useful to find a specialized attorney for this process.

“If you'd have a private lender saying they lend in all 50 states then that is a hard money lender calling themselves a private lender.”

15:03

Alex shares some things to look out for as an investor when working with a private lender:

• No funds should change hands outside of closing.
• Most private lenders are hyper-local. Therefore, if they’ve done loans in that area, their deeds and trust, and mortgages are public records.
• Ask for references in your market.
• Be aware of people who say they lend in all 50 states, as they’re probably hard money lenders.

“The reason I invest passively is because I want to go out and live actively.”

28:20

Alex is an LP investor. She talks about the risks of the capital stack. LP investors are on the top of the capital stack, so if the deal goes wrong, their money is at risk first.

Alex breaks down passive investors into 2 categories - equity multiple investors and cash flow investors. She prefers cash flow investing as it is more reliable by running the numbers. It’s also less risky, as the properties are usually stabilized.

About our Guest, Alex Breshears

Alex Breshears is a private money lender, short-term rental owner, LP investor in syndications, and private lending fund manager. She is also a BiggerPockets published author, with her private lending book “ Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending” hitting shelves in August of 2022. She started an educational Facebook group called Lend2Live: Private Lending Lessons which offers educational lessons, daily posts for discussion, and opportunities to network with other investors about private lending, and various projects that may need funding. Alex is also passionate about financial education and independence for female investors. Alex is a military spouse, dog mom of 4, and seeks to educate others about investing to fit the design of your life. She was a chemistry professor, teaching for a four-year school for the past ten years, with a special focus on pharmacology.

Mentioned in the show:

1. Lend2Live: Private Lending Lessons Facebook Group
2. Her LinkedIn
3. Alex Breshears - Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending
4. Shineinsurance.com
5. www.shineinsurance.com/managing-commercial-real-estate-risk
6. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Alex Breshears for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 124: Being A Connector, With Yonah Weiss
• How To Escape Burn Out & Make Better Decisions, With AdaPia D’Errico
• 110: 3 Silos Of Risk

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we talk about how mindfulness can help you be a better property manager. Our guest is Terrie Schauer, investor, property manager, author, and coach. She shares some techniques for being more mindful in our work life, how to be professional in business relationships, and why real estate investing isn’t as risky as many of us think.

Learn more about Terrie and her story at shineinsurance.com/managing-commercial-real-estate-risk!

“Very often the things that people are afraid of are not the things that they should be afraid of.”

08:30

At the beginning of the conversation, Terrie shares what risk means to her. She is living and investing in Quebec, and according to her, real estate investing isn’t very risky overall. It can be hard and time-consuming, but there aren’t many events that can take down someone’s whole portfolio. The biggest risk is usually around the sale and not the operation of the property.

Terrie shares some ways to successfully mitigate real estate risk.

• Focus on creating solid contracts at the beginning of all your business partnerships.
• Have your systems and processes in place at the time of sale.
• Make sure to insure the property early on.

“The best diet plan in the world will not help you if you can't execute it in those micro-moments when you're choosing what to put into your mouth. And real estate is the exact same thing.“

16:18

Terrie wrote a book, Mindful Landlord, that focuses on becoming a successful and fulfilled landlord through mindfulness. She talks about some of the techniques that can help you train your mind to become more mindful in your business. 

• Learn how to meditate and cultivate pure presence.
• Instead of trying to replace anxious thoughts with positive thoughts, identify what’s underneath your thoughts.
• Always focus on the next step in your business plan to avoid being overwhelmed.
• Don’t be afraid to ask questions and ask for help from people.
• Be professional in your communication with tenants. Use polite language and don’t text with them.

About our Guest, Terrie Schauer

Terrie is an investor, a property manager, and a real estate broker. She spent twenty years getting income properties in three different cities to cash flow, both for her and for her clients. For Terrie, the ultimate goal of being a landlord isn’t a dollar sign, it’s a full, happy, and financially free existence.

Mentioned in the show:

1. https://terrieschauer.com/
2. Terrie Schauer - Mindful Landlord
3. Her LinkedIn
4. Shineinsurance.com
5. www.shineinsurance.com/managing-commercial-real-estate-risk
6. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Terrie Schauer for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 124: Being A Connector, With Yonah Weiss
• How To Escape Burn Out & Make Better Decisions, With AdaPia D’Errico
• 110: 3 Silos Of Risk

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we dive deep into networking and relationship building with our great returning guest, Yonah Weiss. Yonah is one of the best connectors in the CRE space and an expert in cost segregation. We talk about community building, mitigating risk, and the newest changes in cost segregation.

Learn more about Yonah and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“Platforms like LinkedIn are a great way to put yourself out there, create a brand that people recognize, and continuously add value.”

05:03

At the beginning of the conversation, we talk about building relationships and growing our network. Yonah has always been a good connector and enjoyed meeting people, so building community has always come to him naturally. He shares his best pieces of advice on how to be a good connector.

• Learn how to be a good listener because that is the most important skill in networking.
• Actively engage with other people’s content on social media, especially on LinkedIn.
• Provide value on your social media consistently. 

“Risk is very malleable because it changes based on your level of knowledge.”

17:09

Yonah talks about the biggest risk he took that changed his life. He moved from the United States to Israel 22 years ago, without knowinf anybody. He’s been working remotely ever since. 

This experience taught him to not be afraid of taking risks. According to him, risk can always be mitigated by learning more about the topic.

“The biggest risk for anyone in commercial real estate is the uncertainty of market changes.”

27:06

At the end of the episode, we talk about Yonah’s expertise - cost segregation. Cost segregation is a tax strategy for real estate investors that allows them to accelerate their depreciation deductions to a faster pace. 

Yonah talked more in-depth about cost segregation in a previous episode. A big change since then is that the “100% bonus depreciation” option ends in 2022 and will start to phase out by decreasing 20% each year for the next several years. What that means is you will no longer be able to take 100% of those accelerated deductions in the first year, you'll only be able to take 80% of them.

About our Guest, Yonah Weiss

Yonah is a powerhouse with property owners' tax savings. As Business Director at Madison SPECS, a national Cost Segregation leader, he has assisted clients in saving tens of millions of dollars on taxes through cost segregation. He has a background in teaching and a passion for real estate and helping others.

Mentioned in the show:

1. https://www.yonahweiss.com/
2. His LinkedIn
3. Shineinsurance.com
4. www.shineinsurance.com/managing-commercial-real-estate-risk
5. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Yonah Weiss for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• How To Build Your Network & Lower Your Taxes, With Yonah Weiss
• 112: Quadrant Of Risk
• 123: Infinite Banking, With Kofi Thompson

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Kofi Thompson, a financial advisor who helps people invest in many different asset types. In our conversation, we focus on the concept of infinite banking, a great way to create your own bank and make interest on your own money. We also learn how Kofi has mitigated real estate risks throughout his REI journey. Learn more about Kofi and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“I get up every single day thinking about who are the lives and people that I can impact that day?”

07:36

At the beginning of our conversation, we discuss 2 of the “Risky 6” questions. Kofi shares some risk-related stories from his journey that can help us understand and manage risk better. 

• What is a risk that you're comfortable with that maybe other people are not as comfortable with?
  Risking his money and cash flow. As opposed to many people, Kofi is comfortable investing most of his money and having a smaller amount of cash in hand. He invests in the stock market, in real estate, and into his business.

“One thing that I practice is to not have an emotional attachment to any one specific asset, even if it's been doing well for 5, 10, 15, 20 years, and continue to diversify.”

22:22

Kofi is an expert in infinite banking. Infinite banking is a personal finance strategy that leverages a whole life policy as a “personal bank.” This includes taking loans against the policy and growing cash flow through the insurance's dividends. This creates more liquidity and the investor’s money appreciates at a better rate than in a savings account. 

Infinite banking is a good option for someone who already has the financial capacity for their basic retirement needs and has a passive portfolio. It is a mid to long-term strategy.

Infinite banking has some risks as well. Kofi shares some ways to mitigate these risks.

• Choose a mutual company that’s not owned by stockholders. So company profits or dividends that are paid by that company will flow to the policyholders and benefit the policyholders.
• Go for a company that issues dividends because not every single company out there is a dividend-issuing company.
• Choose a highly rated, stable company.

About our Guest, Kofi Thompson

“My team and I help our clients meet their current financial needs while planning for their future. We work with high-net-worth individuals, business owners, and Real estate investors to address those issues such as reducing taxes and increasing capital through alternative ways of investing and infinite banking strategies.

If you are looking for ways to increase returns while taking on less risk that is something we help our clients with every day. The traditional ways of building wealth could work for most people but are they enough to help you reach your goals? 

If this is a question you asked before it may beneficial for us to connect to see how my team and I can help you get to your goals faster and more efficiently. Feel free to reach out and we'll make time for you to see how we may be able to help you as well.”

Mentioned in the show:

1. His LinkedIn
2. His Instagram
3. Shineinsurance.com
4. www.shineinsurance.com/managing-commercial-real-estate-risk
5. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Kofi Thompson for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 121: Capital Raising From Kuwait, With Keishia Kennedy
• 112: Quadrant Of Risk
• 122: Making Dreams Real, With Jerome Myers

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have a returning guest, Jerome Myers, one of our favorite people in the CRE space. Jerome is a commercial real estate and life coach who helps people realize and reach their investing dreams. In this episode, we talk about how Jerome manages risk in his businesses, how he makes decisions, and how to take the leap from a W2 job to your dream career.

Learn more about Jerome and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“I figured out how to allow my impact to drive income for me and I think most people think about it the other way.”

06:19

At the beginning of our conversation, we discuss our “Risky 6” questions. Jerome shares some risk-related stories from his journey that can help us understand and mitigate risk better. 

1. What's a risk that you took that changed your life?
   Leaving corporate America. Jerome started working in a consulting firm in 2009. He had the opportunity to grow a construction company to 175 people in a year. However, soon after he had to lay off half of the company’s workforce. Because of that, he decided to leave the corporate world and focus on his true passion, real estate. He wanted to combine service and impact with a profitable business.
   
   
2. What is a risk that you're comfortable with that maybe other people are not as comfortable with?
   He is comfortable with betting on himself and believing in himself. According to him, if you have a solid strategy, the right support system, and the commitment, you will reach your goals, however big they are.
   
   
3. As a kid, what were you scared of that would surprise us?
   Jerome didn’t like being alone because he was scared of being lonely. However, he had to go through a period in his life when he learned to embrace being alone and lonely. During this journey, he realized that if he became comfortable with himself, solitude isn't bad at all.
   
   
4. How would you describe yourself as a decision-maker?
   Jerome does the math first and then does an emotional check. If his emotions and the numbers match, then he moves forward with his decision. If there’s a disconnect between the two, he usually follows the math.
   
   
5. What's the biggest risk that you see commercial real estate investors take that concerns you?
   The way people over-leverage their property and how they service debt.
   
   
6. What is a risk to your portfolio that you worry about in the middle of the night?
   That he had delinquency during COVID with his property management agency. He had to change agencies and was able to raise the rent eventually.

“Many of us are told to be practical and realistic, and that our dreams are not reasonable. But being reasonable doesn't lead to an extraordinary life.”

38:33

Jerome is a CRE coach, helping people take the leap from their W2 jobs, become business owners, and reach financial freedom. At the end of the episode, he talks about how to take the leap and follow your dreams.

• Adjust your mindset and surround yourself with people who support you and lift you up.
• Understand that if you don’t follow your dreams, then you won’t be in the position to enable others to reach their dreams too.
• Have systems and processes in place before you take the leap to help you stay on track.

About Our Guest, Jerome Myers

Jerome Myers aka “J” is a developer of people and places. He is the founder and Chief Inspiration Officer of DreamCatchers and The Myers Development Group.

Through these entities, he gets to live out his childhood dreams of helping people manifest the things they imagine and create social proof that dreams should be real.

Since leaving corporate America after building a 20MM division at a Fortune 550 company, J has become one of the most sought-after thought leaders in the multifamily development space. His company, The Myers Development Group, built a multi-million-dollar portfolio following the principles of Myers Methods.

Unlike other coaching programs, we will go beyond strategy, assessments, and encouragement. Jerome pioneered Holistic Transformational Life Coaching more than 15 years ago. Up until about two years ago, it was only used with his closest friends and family. They repeatedly urged him to share his techniques with others and laid the foundation for introducing his methods to the world.

Mentioned in the show:

1. https://www.jeromemyers.co/
2. myersmethods.com
3. His LinkedIn
4. Shineinsurance.com
5. www.shineinsurance.com/managing-commercial-real-estate-risk
6. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Jerome Myers for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• Jump Into Multifamily With Jerome Myers
• 121: Capital Raising From Kuwait, With Keishia Kennedy
• 112: Quadrant Of Risk

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Keishia Kennedy, a thriving capital raiser living in Kuwait. Keishia is also a military veteran and fitness coach who loves a challenge. In our conversation, we talk about how to become motivated to find success, how to invest from afar, and how to be uncomfortable with getting comfortable. If you’re ready to step out of your comfort zone and challenge yourself, then this episode is a must for you.

Learn more about Keishia and her journey at shineinsurance.com/managing-commercial-real-estate-risk!

“I wanted to scale last year so I started investing in commercial assets all the way from Kuwait.”

03:31

Keishia is an American citizen who was born in Germany and had lived in many different places during her life. Her father was in the military, which inspired her to join the Army National Guard. She was deployed to Kuwait and kept going back as a military contractor. 

Keishia started investing in residential assets in 2011 and moved into commercial real estate last year.

“I want to ensure that my partners and I align on our core values, so we can build that relationship over time.”

06:25

Keishia shares her advice about how to mitigate risk when investing in the US from a foreign country.

• Leverage your team’s experience.
• Find a niche that you can do from afar. For Keishia, this is capital raising.
• Focus on networking online and building lasting relationships.

Keishia uses a “5 Fs Framework” to find partners and team members with similar core values to hers. The 5 Fs are Faith, Family, Fitness, Finances, and Freedom. Honesty and transparency are very important for her so she expects her team members to align with these values as well.

“I love a good challenge. I'm very active, very adventurous. We only live once, right? So why not?”

13:12

In the second half of the conversation, Jeremy asks Keisha 4 questions out of the “Risky 6” questions. These are some risk-related questions about her investing journey.

1. What's a risk that you took that changed your life?
   It was the first real estate property she bought in Richmond, Virginia. At the time, she had no idea about REI, but the property ended up being cheap and highly cash-flowing.
   
   
2. What is a risk that you're comfortable with that maybe other people are not as comfortable with?
   Investing outside of the US. According to her, if she can invest from another continent, anybody can invest in another state. As long as the numbers make sense, it‘s worth taking the risk.
   
   
3. As a kid, what were you scared of that would surprise us?
   She was scared to swim, however now she’s a certified scuba diver. Keishia loves a challenge and to overcome her fears so she looked at swimming the same way. She brings the same mentality to real estate investing.
   
   
4. How would you describe yourself as a decision-maker?
   Keishia is an executor. She makes her decision and continues to move forward until she reaches her goals.

About Our Guest, Keishia Kennedy

Keishia is an army veteran with six years of service in the Army National Guard. During her enlistment, she was a Human Resource Specialist and also deployed to Kuwait as part of Operation Enduring Freedom. She has also pursued education by earning a Bachelor of Science in Chemistry, a second Bachelor of Science in Exercise Science, and a Master of Arts in Homeland Security.

Following her enlistment, she began investing in real estate in 2011 and has been expanding and managing her portfolio of properties for the past 10 years. In April 2021, she decided to take the next step on her entrepreneurial journey by founding Kennedy Remedy Investments. Kennedy Remedy Investments will focus on investing in commercial multi-family properties in Virginia, with plans to expand to other southeastern states.

Mentioned in the show:

1. https://kennedyremedyinvestments.com/guide/
2. Her LinkedIn
3. https://kennedyremedyinvestments.com/
4. Shineinsurance.com
5. www.shineinsurance.com/managing-commercial-real-estate-risk
6. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Keishia Kennedy for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• How To Market Your Deal, With John Casmon
• 120: Taking Huge Action, With Ola Dantis
• 112: Quadrant Of Risk

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Ola Dantis, a multifamily investor and an absolute dream chaser and action taker. In our conversation, he shares how he moved 3 continents to make his dreams come true, and how to take significant risks and massive actions to succeed in the end. 

If you want to learn how to be a risk-taker and build a strong portfolio, this episode is a must for you!

Learn more about Ola and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“I've lived on 3 continents. North America is the best one.”

05:44

Ola grew up in Nigeria, West Africa. As a child, he never dreamed of owning a multifamily real estate business. He moved to the UK when he was 16 and 10 years ago ended up in the US with his wife. Here, he got interested in real estate investing.

According to Ola, the US is the best place to live because there are great opportunities and a capitalistic system that is easy to plug into.

“You're not a tree, you can move. This could be a mental move or geographical move, but you can move, and that will radically change your mind.“

15:11

Ola moved to Houston from Baltimore during the pandemic to further his career even more. This transition helped him grow his portfolio significantly. He is very comfortable with moving for different opportunities and this is what he recommends to everyone as well. True success only comes if we’re willing to take risks.

Ola shares his best pieces of advice on how to balance risk and reward while making a decision.

• Educate yourself and take calculated actions.
• Don’t be afraid of making quick decisions but keep evaluating the process as you go.
• Respect the asset that you’re working with and respect the business.
• Create a solid business plan that helps everyone involved in the business to know what to do.

“I'm a big believer that relationships are what really drive the business.”

26:05

Ola talks about how he builds his team. He prefers to have people on his team who are faster than him, so they can motivate him to make quick decisions. He likes to find team members through referrals.

At the end of the conversation, Ola talks about what he sees as the biggest risk investors face nowadays.

• We’re possibly entering a recession soon. This will affect investors negatively.
• The high inflation rate makes it harder to invest in real estate.
• The war in Ukraine is affecting the market as well.

About Our Guest, Ola Dantis

Ola, an entrepreneur at heart, brings his experience in owning and managing cash-flowing multifamily property in his personal real estate portfolio to larger multifamily investing with over $40,000,000M in deals. This foundational experience derived from the strategic acquisition, renovation, and repositioning has been instrumental in the apartment syndication space, resulting in a competitive edge in value add and equity creation. In addition, Ola draws from his leadership and analytic skills as a manager for a Fortune 10 company.

Mentioned in the show:

1. investwithola.com
2. His Instagram
3. Shineinsurance.com
4. www.shineinsurance.com/managing-commercial-real-estate-risk
5. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Ola Dantis for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 119: Why Relationships Matter, With Pili Yarusi
• 118: Elevate Your Operations
• 112: Quadrant Of Risk

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. On the show today we have another Titan in the commercial real estate world, Pili Yarusi, capital raiser and asset manager. We discuss how to build meaningful business relationships, attract capital on social media, and how to manage assets successfully at 1000 doors.

If you're struggling with taking advantage of these different social platforms, then this episode is for you!

Learn more about Pili and her journey at shineinsurance.com/managing-commercial-real-estate-risk!

“Real estate is a people business. So my biggest tip is to talk to people all the time.”

08:05

At the beginning of the show, Pili talks about how she finds good deals in the current tough market. She connects and talks to people every day on social media. She also takes calls from anyone because according to her, she never knows when a good off-market deal comes up. This attitude has helped her to find immense success and grow her portfolio to around 1000 doors in recent years.

Pili explains that the only risk she’s taking by networking is losing her time. However, she can gain countless business opportunities, great team members, and a good reputation in the industry through it.

“Life is all about relationships.“

19:17

Even though Pili loves engaging with people, she recommends that everyone find their own power. For some people, it’s networking, for others it’s crunching numbers, but everybody is good at something. Find people in your team with different superpowers.

Pili’s advice is to take action. Don’t wait until you become an expert in your field, take the risk and start taking action today!

“Make friends in those places where you don't think you could be of any service because I guarantee you that you can be.”

43:15

Pili is very active on social media. She engages with people on Facebook, LinkedIn, and Instagram, like many other investors, but she also likes to try unconventional platforms. Her newer favorites are Twitter Spaces and Clubhouse.

Pili’s advice is to try to be active on as many social platforms as possible and don’t be afraid to try new sites now and then.

About Our Guest, Pili Yarusi

Pili Yarusi loves to help people and “Lead with Aloha”. 

She runs the Investor and Client Relations branches of both Yarusi Holdings and Multifamily Live. Multifamily Live is an interactive education platform for investors to build a strong FOUNDATION buying Large Multifamily.  

Pili is the co-host of the Multifamily Live Podcast and trains others on the successful formula to buying apartment buildings at www.7FigureMultifamily.com.  

She is also the co-host of The Jason and Pili Project - a fun and interactive YouTube channel that features all the fun that she and Jason are working on. Look out for a new Project coming out in Q2 2022. Her goal is to help one person a day take one step closer to a Fit and Rich Life.

She and Jason have three awesome children, Luke, Lily, and Leo, and an English Bulldog, Jill. 

Pili has her NJ Real Estate License with EXP Commercial.

Mentioned in the show:

1. https://www.yarusiholdings.com/
2. Her LinkedIn
3. Shineinsurance.com
4. www.shineinsurance.com/managing-commercial-real-estate-risk
5. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Pili Yarusi for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 103: Should I Wait To Buy Apartments? With Jason Yarusi
• 107: Inside An $80M Exit, With Veena Jetti
• How To Work A 400 Unit Deal, With Veena Jetti

Welcome to the Managing CRE Risk podcast, where we believe that if you can identify, understand, and manage risk, you can take huge leaps in your CRE journey and find more success along the way. Today, Jeremy talks about our last episode with our great guest, Axel Ragnarsson. In that conversation, we discussed how to make sure that your operations process is as functional and well set up as possible. Now, we would like to share some of the key takeaways from the interview.

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“If you do things while you have control over them, even if it feels a little early, you're much better off than reacting to a crisis.”

Our last guest was Axel Ragnarsson, an investor with a lot of properties in New Hampshire, Indianapolis, and Florida. He's a property manager and an operator with over 300 doors in his portfolio.

In that conversation, we mostly talked about how to create functional and well-set-up operations, and now we’d like to share some of the key takeaways.

1. You have to have your reno budget and your CaPex figured out right from the beginning and stick with it as best you can.
   Be conservative with your underwriting and raise 15% more capital. The last thing you want to do is go back to your investors for more money.
   
   
2. Make sure you get your renovation done quickly.
   If you do all your renovation upfront you know the exact cost and don’t have to budget for it later. This way you can control the risk by controlling the environment.
   
   
3. Set  clear expectations and have good communication with your property managers.
   Look out for the red flags in a property manager. The 3 main red flags are using bad softwares, getting bad referrals, and unclear communication.
   Set your communication requirements with your property management company and set clear expectations from the very beginning. This is how you can mitigate the risk.

How do you manage your operations process? What makes it successful?

Share with us on social media!

Mentioned in the show:

1. Shineinsurance.com
2. Jeremy’s LinkedIn
3. www.shineinsurance.com/managing-commercial-real-estate-risk
4. The REI Clarity Framework

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 117: Tips For Better Multifamily Operations, With Axel Ragnarsson
• 115: Manage Risk Like A Large Business
• 112: Quadrant Of Risk

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Axel Ragnarsson, an investor from Boston, MA with over 300 doors in his portfolio. In this conversation, we go deep into how to elevate your operations and manage risks in the current market. Axel shares with us the key things to look out for while underwriting, how to find the best property managers, and how to become a stellar operator. If you’re into the multifamily market, then this episode is a must for you!

Learn more about Axel and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“There's so much fear in the market right now related to interest rates.”

01:39

At the beginning of our conversation, Axel explains what he sees as the biggest risk investors take nowadays. According to him, interest rates and cap rates are changing rapidly so it’s even harder to buy at the right price. Therefore, investors should be more conservative with their underwriting. 

However, there are still many opportunities in the current multifamily market as there is a lot of liquidity and rents are still going up.

“A really significant component that separates the exceptional investors from the average ones, is they have a tight handle on the CapEx process.”

12:04

Axel shares his advice on the key things to focus on as an operator for a successful property.

• Be conservative in your dept assumption, cap rate assumption, and rent assumption.
• Make sure you stay on your renovation budget and CapEx budget.
• Don’t just focus on your cash flow. 
• Have a clear plan for your expenses for the next few years.

“We've ended relationships with owners before and we can always trace it back to poor expectation setting and poor communication upfront.”

29:46

At the end of the episode, Axel talks about how to succeed in property management as an operator.

• Get on the same page with your property management company before closing on a property. Share your underwriting with them and see if they can hit the metrics.
• Set your communication requirements and stick to them.
• Ask what software they’re using. It should be one of the “Big 5”.
• Ask around for referrals from previous clients.

About Our Guest, Axel Ragnarsson

Axel is a New Hampshire native and has been a full-time real estate investor in the NH area for 5+ years. He purchased his first multifamily property during his sophomore year at the University of New Hampshire. Shortly after, he caught the real estate bug, leading to the founding of his real estate investment firm, Brickleaf Properties. Currently, Brickleaf Properties owns approximately $7M in multifamily real estate and has been a principal party in $20M+ worth of transactions.

Axel is also the Host of the Multifamily Wealth Podcast, where he interviews successful real estate investors (link at the bottom of the page). He is a huge New England sports fan, likes to golf, ski, and travel. 

Mentioned in the show:

1. http://alignedrep.com/
2. The Multifamily Wealth Podcast
3. His LinkedIn
4. Shineinsurance.com
5. www.shineinsurance.com/managing-commercial-real-estate-risk
6. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Axel Ragnarsson for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 116: The #1 Way To Manage Risk, With Brian Burke
• 115: Manage Risk Like A Large Business
• 114: Pivotal Partnerships, With Heather Ewing

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. On the show today, we have one of the behemoths in the CRE world, a returning guest, Brian Burke. Brian has been investing in real estate for 30+ years, he has tons of doors in his portfolio and he’s a contributing member to the Bigger Pockets community. In our conversation, he gives us insight into how risk works in his portfolio, how he thinks about it, and how he navigates it.

Learn more about Brian and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“Nothing gives you a better education than experience. And especially bad experiences.”

4:10

At the beginning of the show, Brian talks about how he gained experience in real estate investing. According to him, adversity and difficulty are the greatest education and through them, we can gain a lot of experience.

During his long career, Brian realized that the best way to mitigate real estate risk is to not have too much debt and not be over-leveraged. His advice for new investors to avoid over-leveraging is to slowly keep expanding their base of investors and always invest within their means.

“When you have a property that goes up in value as quickly as in this market, you have to sell it and cash in.”

14:44

Brian explains the most significant external pressures on investors in the current market. 

• The biggest risk is labor shortage. It’s difficult to find good people to manage properties.
• Intense demand for income real estate is causing prices to run up incredibly high.

According to Brian, in this market, it’s very easy to sell properties as everything is appreciating fast. His advice for buyers is to be thoughtful about the assets they buy. Some assets still make sense to acquire because the rents are also going up tremendously.

About Our Guest, Brian Burke

Brian has acquired over 800 million dollars worth of real estate over a 30-year career including over 4,000 multifamily units and more than 700 single-family homes, with the assistance of proprietary software that he wrote himself. Brian has subdivided land, built homes, and constructed self-storage, but he really prefers to reposition existing multifamily properties.

Brian is the author of The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications and is a frequent public speaker at real estate conferences and events nationwide.

Mentioned in the show:

1. https://praxcap.com/
2. Brian Burke - The Hands-Off Investor
3. His LinkedIn
4. Shineinsurance.com
5. www.shineinsurance.com/managing-commercial-real-estate-risk
6. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Brian Burke for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• How To Passively Invest In Real Estate, With Brian Burke
• Define & Achieve Your Desired Outcome, John Blanton
• 110: 3 Silos Of Risk

Welcome to the Managing CRE Risk podcast, where we believe that if you can identify, understand, and manage risk, you can take huge leaps in your CRE journey and find more success along the way. Today, we have an interesting topic to cover. We talk about what risk managers do in huge corporations, and how you can implement their processes into your own business. We guarantee that this episode will shift your concept of how risk works on your properties.

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“Whether you have a risk manager or not, these five steps should be happening in your business.”

Even if you have a small business, you can implement the processes that risk managers do in big corporations. Today, we share with you 5 steps that you should take when you're navigating the risk with your portfolio.

1. Risk identification.
   Look at your properties, contracts, and your relationships with other people and identify where are the weaknesses in your systems.
   
   
2. Risk impact.
   Review the physical, relationship, external, and system risks you just identified, and try to understand their impact on your business.
   
   
3. Prioritize.
   Find the biggest, most impactful issues in your business that need to be solved the fastest.
   
   
4. Manage the risk.
   Address the issues you prioritized and find the solution for them.
   
   
5. Monitor the situation.
   Now, that you solved the most impactful issues, make sure to monitor them over time.

Go through this cycle over and over again. In big corporations, risk managers go over this list at least once a year, but sometimes every quarter.

So now, we encourage you to go through these 5 steps to manage the risk in your business. Share your insights with us on social media!

Mentioned in the show:

1. Shineinsurance.com
2. Jeremy’s LinkedIn
3. www.shineinsurance.com/managing-commercial-real-estate-risk
4. The REI Clarity Framework

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 112: Quadrant Of Risk
• 110: 3 Silos Of Risk
• 108: Success Is Built On 3 Es

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have Heather Ewing, a seasoned CRE broker, on the show out of Madison, Wisconsin. Heather works primarily in retail and restaurant and she shares how to attract the best tenants and find the best deals in the triple net world. We also talk about how to properly structure leases and how the retail space is in the current market. You don’t want to miss out on this episode!

Learn more about Heather and her journey at shineinsurance.com/managing-commercial-real-estate-risk!

“I bet on people's wins, not losses. I want people to be successful.”

04:40

Heather has lived in Madison, Wisconsin for over 45 years, so she deeply understands the real estate scene. At the beginning of our conversation, she explains how the market works and why it’s an excellent place to invest in. Even though Madison is a tertiary market, it has a big university and it’s also the state capital city which brings in a lot of retailers and restaurants. 

Heather explains how to successfully mitigate the risk in the retail market as a new investor.

• Align yourself with a great lender. SBA loans have a much better interest rate.
• Find a good broker with a niche in retail.
• Look into different grants in your state or nationwide that can help with your business.
• Focus on how you structure the lease. A good broker relationship can help you figure out what the market rate is as this is usually not public knowledge.

“A lot of times you can gain the market knowledge by getting out, hitting the streets, and asking questions.”

19:13

Heather shares some mistakes she sees people make in the triple net space. Many new investors don’t get an attorney who is familiar with CRE to negotiate the lease, which can cause many problems in the long term. Another common mistake is not working with service providers who are niched in the investor’s specific asset class.

At the end of the conversation, Heather talks about a couple of entry points for new investors who want to come into the retail space.

• Go to different events in the area you are interested in and network with experts.
• Be active on LinkedIn and social media and make connections with brokers.

About Our Guest, Heather Ewing

Heather Ewing combined her expertise in Retail Brokerage in downtown Madison and Dane County with her creative capabilities to provide a unique and unparalleled service to Tenants, Owners, Developers and Commercial Investments. Utilizing this experience, Value-Added options for Clients and her role in $151M+ New and Redeveloped Mixed-Use.

Ewing utilizes her 40+ years of living in the Madison area to provide site selection beyond demographics adding the layering of areas history of various eclectic neighborhoods and suburbs and the shopping trends. Clients are guided through the entire brokerage process receiving referrals for attorneys, lenders, etc. as needed. Additionally, this extends into Developments, sharing methods for effective and efficient leasing, building suggestions, and various value-add marketing and branding options.

Mentioned in the show:

1. www.abstractcommercialrealestate.com
2. Her LinkedIn
3. Her Phone Number: (608)-239-4781
4. Shineinsurance.com
5. www.shineinsurance.com/managing-commercial-real-estate-risk
6. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Heather Ewing for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 113: 1031 Exchange In Kansas City, With Alex Olson
• 111: Answers To Inflation, With Hunter Thompson
• 112: Quadrant Of Risk

Welcome to the Managing CRE Risk podcast, where we believe that if you can identify, understand, and manage risk, you can take huge leaps in your CRE journey and find more success along the way. Our guest today is Brian Olson, a real estate broker who specializes in 1031 exchange. In this conversation, we dig into one particular market, Kansas City, and talk about how to find the best deals, create good relationships with brokers, and make sure that you're running your 1031 exchanges correctly. His great advice applies to any market in the country, so you don’t want to miss out on this insightful episode!

Learn more about Brian and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“There are a lot of the reasons why Kansas City's drawn a lot of investors here recently.”

04:04

At the beginning of our conversation, Brian explains how the Kansas City market works and why it’s a particularly good market to invest in. Kansas City is very landlord-friendly, has low taxes, and has many cash-flowing assets.

Currently, every market in the US has issues with the inventory of multifamily properties. The triple net assets are a bit easier to find and have better cap rates. Brian is specialized in 1031 exchange, which has great cashflow opportunities in Kansas City’s stable market.

“In real estate, the brokers are typically not like your used car salesman. They're there to help you and to build a long-term relationship with you.” 

14:19

For people who want to invest outside of their states, Brian has some great advice on how to lower their risk.

• Get referrals and find a good off-market broker by using your network.
• Be proactive. Have constant communication with your broker. Tell them why you like or don’t like a deal and what you’re looking for.
• Try to understand the market and have realistic expectations.

“Your Qualified Intermediary, broker, and lender are going to be key team members for you.”

24:54

Brian explains the biggest risk he sees people taking in commercial real estate that creates concern. They overpay 10-50% on smaller assets rather than finding off-market deals. The best way to reduce your risk is to build a relationship with a broker, especially in a 1031 scenario.

The biggest mistake people make around a 1031 exchange is closing out on a property but not putting their funds within a Qualified Intermediary. It’s also important to make sure to know and engage in a market that you're going to exchange into.

About Our Guest, Alex Olson

As a 1031 Exchange Real Estate Agent, Brian helps clients identify and close real estate transactions in the Kansas City market, St Louis Market; and the states of Kansas and Missouri. An expert in assisting buyers and sellers (in-state and out-of-state) looking for multifamily properties in Kansas City, St Louis, Kansas, and Missouri. 

Mentioned in the show:

1. https://xchangecre.com/
2. His LinkedIn
3. alex@xchangecre.com
4. Shineinsurance.com
5. www.shineinsurance.com/managing-commercial-real-estate-risk
6. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Alex Olson for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 109: Healthy Partnership Agreement, With Brian Adams
• 110: 3 Silos Of Risk
• The Future Of Commercial Real Estate, With Shannon Robnett

Welcome to the Managing Commercial Real Estate Risk Podcast with Jeremy Goodrich. This show is all about making great decisions and not being afraid to take big leaps. Today, we expand on our last episode about the 3 silos of risk and talk about the quadrants of risk. Think back at these quadrants when you make CRE decisions to be able to identify and manage the risk and you will exponentially increase the profits in your portfolio.

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“Systems are the foundation under how I mitigate the risk and how I find exponential growth in my journey.”

Today, we expand on our last episode and add one more significant risk factor.

1. Physical risk.
   This quadrant is related to the physical space in your CRE business. Focus on having a good insurance policy to quickly and effectively solve physical damage in your buildings.
   
   
2. Relationship risk.
   There's risks to the relationship with your team, tenants, and service provider. Make sure to have solid contracts at the beginning of all your business partnerships to mitigate the risk later.
   
   
3. External risk.
   These are the things that are external to your business but have the highest level of effect on it. Market risks, taxes, the political environment, or high prices can all affect your success in real estate.
   
   
   1. Marketing.
      Silence is death when it comes to business ownership so you have to be known in some way.
   2. Sales.
      Sales is the process of closing the deal.
   3. Delivery.
      If you’re not delivering on your promises then everything falls apart in your business.
4. Systems.
   Systems are the foundation under how we mitigate the risk. This quadrant has 3 equally important subcategories.

Create a strong business plan that contains all your systems and processes.

So as you look at your journey, what are the things that you feel the least confident in? What are the risks that seem the biggest when you look at that quadrant? Share it with us on our social media pages.

Mentioned in the show:

1. Shineinsurance.com
2. Jeremy’s LinkedIn
3. www.shineinsurance.com/managing-commercial-real-estate-risk
4. The REI Clarity Framework

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 110: 3 Silos Of Risk
• 108: Success Is Built On 3 Es
• 106: Avoiding Analysis Paralysis

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have a commercial real estate heavyweight on the show, Hunter Thompson, who has been in the CRE world for a long time as an investor and capital raiser. In our conversation, we talk about how inflation affects the market, how to raise and protect capital, and why this might be a great time to get into real estate investing. Join us and learn how to be a stellar capital raiser!

Learn more about Hunter and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“Interest rates are rising and it's really impacting deals right now.”

04:15

At the beginning of our conversation, Hunter explains what the word risk means to him.

According to him, the most important factor in protecting investor capital is debt. It’s the determining factor on whether or not investors can get their money back. So they must leverage their investments intelligently because they need to supercharge their returns.

Hunter shares the most common mistakes he sees people making around debt.

• Not thinking deeply enough about the loan to value ratio. What's that value based on? How different is the current value of that asset from that future value?
• Not having a big enough network, so if things go wrong there’s no help.

“I don't like the “rich get richer” game, but I'm certainly not going to be on the losing side of that discussion.”

11:59

Hunter talks about inflation as one of the biggest risks in the current market. However, for real estate investors, even though their expenses grow with inflation, their income could grow even more significantly.

People who are participating in the real estate market right now will get wealthier and people with fixed incomes will suffer from inflation. It’s important to educate people about passive investing.

“I built up a platform and the louder my voice got, the higher the caliber of people I could attract.“

26:53

Hunter is a seasoned capital raiser. He shares his best advice for new capital raisers coming into the current market.

• Find your role in someone’s business who's been doing it longer and has a bigger network.
• Use the “fund of funds” model and compile a small group of people into an LLC to be able to raise a more significant amount together.

Hunter has created a coaching program and a free summit called The 100k to Invest Summit where he shares his knowledge together with many real estate professionals.

About Our Guest, Hunter Thompson

Hunter is a full-time real estate investor and founder of Asym Capital (“AY-SIM). Since founding Asym, Hunter has helped more than 400 retail investors acquire over $150,000,000 of mobile home parks, self-storage, retail, office, ATM machines, and cryptocurrency assets.   

Hunter is also the host of the Cash Flow Connections Real Estate Podcast which has received over 1,000,000 downloads.  

He also wrote Raising Capital for Real Estate which hit #1 on Amazon in Real Estate Sales and Selling.  

Mentioned in the show:

1. https://100ktoinvest.com/register-free
2. https://asymcapital.com/
3. His LinkedIn
4. Hunter Thompson - Raising Capital for Real Estate
5. Shineinsurance.com
6. www.shineinsurance.com/managing-commercial-real-estate-risk
7. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

Special thanks to Hunter Thompson for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 109: Healthy Partnership Agreement, With Brian Adams
• 110: 3 Silos Of Risk
• The Future Of Commercial Real Estate, With Shannon Robnett

Welcome to the Managing Commercial Real Estate Risk Podcast, where we believe that if you identify, understand, and manage the risk in your journey, you will exponentially increase the profits in your portfolio. In today’s solo episode, we start to categorize risk and talk about the 3 silos of risk. This will help you understand risk more and make your decision-making faster and more efficient. 

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“The quicker we can silo information, the better we can understand it quickly.”

If you've been listening to the solo episodes, you're starting to experience a foundation under which the Managing Commercial Real Estate Risk process works. It's all about decision-making and mindset. 

So today, we share with you the 3 silos of risk to help you make decisions quicker and more effectively.

1. Physical.
   This silo is related to the physical space in your CRE business, such as your apartment complex, office, retail space, etc.
   Many things can damage these physical spaces from fires to floods, so you have to make a decision on how to manage these scenarios.
   Don’t just assume that nothing will happen, have a good insurance policy.
   
   
2. Contracts and relationships.
   If you think about the relationships you have in commercial real estate, they are almost all based on contracts.
   Contracts have power in a couple of ways. They establish healthy relationships and they can also solve the problem at the time something bad happens.
   Focus on creating solid contracts at the beginning of all your business partnerships to mitigate the risk later.
   
   
3. External.
   These are the things that are external to your business but affect it, such as inflation, taxes, the political environment, etc. You can't control these factors after the point of purchase.
   To mitigate external risk try to educate yourself about the market you’re in as much as possible.

Did we miss anything? Is there a silo that exists and we didn’t mention? Hit the socials, let us know about it, and we’ll be sure to address it in a future episode! 

Mentioned in the show:

1. Shineinsurance.com
2. Jeremy’s LinkedIn
3. www.shineinsurance.com/managing-commercial-real-estate-risk
4. The REI Clarity Framework

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 106: Avoiding Analysis Paralysis
• 107: Inside An $80M Exit, With Veena Jetti
• Rise By Lifting Others, With Nicole Pendergrass