We can borrow from one asset to fix another and shore up. Ken received a Bachelor of Science in Finance and International Business from Indiana University (Bloomington) and a Master of Business Administration with a concentration in Real Estate Finance and Investments from DePaul University. Got it. Jonathans responsibilities include expanding the firms investor base and serving the needs of our Registered Investment Advisor and high-net individual investors. As Head of Asset Management for the U.S. portfolio, he held responsibility for the investment performance of a 36-building national office, R&D, and industrial portfolio containing 7 million square feet. As of 2020, Wendy Osefo's net worth is $1.5 million. During her time at White & Case, she represented institutional capital sources and developers in connection with acquisitions, dispositions, financings, leasing, and development of various classes of real property, including multifamily, office, retail, hotels, senior housing, mixed-use projects, and vacant land. Welcome to the show, buddy. Stephanie's Voice career has been on and off, but fans think of her as a regular due to her . Im happy to talk about that a little bit. In his free time, he enjoys golfing, playing hockey, and making music. Garrett moved to Chicago 2 years ago and lives in the Lakeview community. Dell shares surged to a record high on Thursday, valuing its founder's net worth at $50.7 billion, according to . Prior to Stony Point, Kevin worked at KETTLER, a leading investor, developer and property manager based in Virginia. Were in those markets because in the strategy sense, the first thing we do is look at the macro view of the world and figure out where we want to invest. Geoff joined Origin in the spring of 2021 after spending two years at Centro, an advertising technology firm headquartered in Chicago. In her current role, Priya oversees Origins fund and corporate-level financial operations, executes year-end audits, interfaces with the tax team, tracks corporate performance, and manages reporting requirements of lenders, general partners and other stakeholders. Michael Episcope: I think thats where a lot of people make the mistake, its looking at, and comparing returns to one another. Webinar today at 11AM CT: Join Origin Co-CEO Michael Episcope and Managing Director of Acquisitions Dave Welk for our IncomePlus Fund webinar. He had five, six, seven deals that were all going south. Bills design practice emerged out of a fine arts background. While growing up, she worked as a bartender, and that is how Ashley met her husband, a real estate millionaire, Michael Darby, whose empire is worth $20 million. Michael Jordan's net worth is $2.2 billion. Tom currently resides in Denver with his wife and children, is a cyclist, skier and loves to travel. Michael Episcope unpacks opportunity zone investing misconceptions and explores the potential benefits of adding alternative assets to a portfolio. We talked a little bit about the fee structure, and the importance of that. His primary profession as a comedian has allowed him to amass enormous wealth. That can really eat-away the returns. Prior to joining Origin Investments in 2017, Chris served in various roles with NorthMarq Capitals loan production and loan servicing offices located in Chicago and Minneapolis. There is where she assisted in all real estate transactions including Residential, Commercial, and Real Estate Bank Owned properties. At Ventas Kate was responsible for business transformation and M&A integration and was a key player in the divestiture of Care Capital Partners as a standalone publicly-traded REIT in 2015. He's a great guy based in Chicago who started this company in 2007 after quite a successful year as a trader. Tijana received a Bachelor of Arts in Data Science and Global Business from Mount Holyoke College and is a licensed sales Broker in Illinois. He oversees the strategy and execution of property-level business plans. Tune in next week for our next show. With Michael's leadership, Origin has $1 billion in equity under management and has executed more than $2.6 billion in real estate transactions in fast-growing markets throughout the U.S. She helps her husband . Before Equity Office Properties, Tom worked as a commercial credit analyst at JP Morgan Chase. We started talking about that before we started recording. Prior to Origin, Victoria worked at US Bank within the Wealth Management Division as a Portfolio Administrator II. We do [overlap talk]. He is co-CEO, co-chairs the investment committee and oversees investor relations and capital raising. Thank you. Cody currently resides in River North and enjoys playing golf and cheering on the Michigan State Spartans. 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. Since moving here in 2003, He has taken the opportunity to enjoy a wide variety of food and activities that the city has to offer. Michael brings 25 years of investment and risk management experience to the company and believes that calculated risk-taking in inefficient markets is the k Jennifer went to Bradley University in Peoria, IL. He enjoys traveling with his family, snowboarding, and frequents ski resorts all over North America. ARTOGRAPH - Episcope Prism - projecteur de table 500W grossissement jusqu' 20 fois : 530,00 294,95 Voir l'offre: 2: Artograph 225-460 Projecteur et Agrandisseur d'art Opaque - Tracer : 150,00 127,00 Voir l'offre: 3: Artograph Prism 3D Projecteur Episcope Professionnel : 464,00 413,48 Its a very defined parameter, so not only do they know exactly what theyre doing everyday and where theyre hunting, but the brokerage community and the ownership community, and the management community knows what were looking for as well. Michael is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. Michael Episcope: Potentially, yeah, if it were an individual asset thats not the strategy. What did you do to get out there and meet people, and get them excited about what you were doing? They had to give it back to the bank, or they had to sell it. Prior to joining Origin full-time, Ryan was a Data Scientist intern. You should be comparing the people behind the returns. As you know, Rod, population centers, job growth, population growth, thats where you wanna position yourself. Can we actually improve it and get what we think? Michael Episcope: I think its not that we believe in timing the market. Ryan serves as a Data Scientist here at Origin Investments. How about some seminars, or times you got your nose bloodied, or learning experiences? He enjoys keeping up with the local music scene and cheering on Minnesota sports. Michael Episcope: Yeah. Justin currently resides in the Wicker Park neighborhood of Chicago and in his free time enjoys volleyball, strategy games, and cooking/eating with friends and family. Her net worth is an estimated $500,000, according to ScreenRant. He is a member of the Urban Land Institute. What is the proper debt to equity structure? The materials created by Michelle are essential to acquiring, nurturing, and converting leads, as well as engaging and retaining existing investors. Cody is a Senior Accounting Associate here at Origin Investments. Jonathan is an Assistant Vice President of Investor Relations at Origin Investments where he is responsible for fundraising and business development activities associated with the firms Private Real Estate offerings. Its not borderline at all. He received his Bachelor of Science Degree in Accounting from Michigan State University and a dual Master of Science in Accounting and Master of Business Administration Degree from Loyola University Chicago. Rod Khleif: Let me ask you this, you find an A-minus asset, or a B-plus asset, its not like the heavy reposition that you would do on a C-asset where youre going in and completely redoing the interior and all that. Grant Cardone Controls Over 4,000 Apartments Worth Over a Half a Billion Dollars. She received her BBA degree in Finance and Management from Florida International University. My first career was in commodities trading. At the age of 19 years old I got a summer job down at the Chicago Mercantile Exchange and that was between my freshman and sophomore year of college at DePaul. Understanding capital commitment fees . In this week's episode, hear how The-Dream started working with some of the biggest artists in music, decided to go independent as a musician, and jumped into the fashion world by enrolling in the. It really, funders charge differently. And you look at all the low hanging fruit that the management team wasnt charging for, and so Ill take it. Jennifer serves as Office Manager and Executive Assistant to the Co-CEOs Michael and David. Before ELS, she worked at Lilis Energy in Dallas, Texas, as an analyst cross-specializing in investor relations and transaction work. In order to finance his lifestyle, at one point Michael took a $380 million loan from Bank of. I think theres a misnomer that funds are more expensive than individual deals, and thats just not true. At Morningstar, Melissa set the marketing communications strategy to drive demand for an extensive line of products for financial advisors, including software, events and investment management services. Prior to Origin Investments, he completed the Risk Management Leadership Program at GE Capital. Michael Episcope: Yeah. In his free time, he enjoys spending time at the lakefront, trying new foods, and traveling. He also enjoys performing sketch and improv comedy at the Second City. Interesting. Rod Khleif: Sure. Seasons: 7, 9, 12, 17, 19, 22. The video has had 9.6K views so far. Two years later, she took a role as a Property Accountant at SLM Realty, LLC., where she was first exposed to the real estate industry. Spencer received a Bachelor of Science in Business majoring in Finance and Real Estate from Indiana University. Michael brings 25 years of investment and risk management experience to Origin. Click the play button above to listen to our conversation with Michael. During his tenure, he was involved with the acquisition of more than $500 million of multifamily, office, industrial and retail assets throughout the U.S. on behalf of the firms pension fund clients. Articles by Michael Episcope on Muck Rack. Kevin is responsible for driving performance of the companys multifamily development projects & partners. But we have adopted an institutional fee structure. Phil loves to travel, participate in sports leagues and cheer on the Cincinnati Reds and Bengals. That can also be a big negative. Fund will charge committed capital fees. Rod Khleif: What other fees? He provided superior administrative services for clients custodial accounts and alternative investment portfolios. The 3 most important rules of real estate Summary. That was kinda the impetus of us starting together. But it was, I think, at that time when we were 60% leveraged. I mean, theyre yours; they are your rabid fans. So even if youre reinvesting that capital, youre only reinvesting 75% of that profit rather than 100%. And then within those submarkets, we focus more on the high-income demographic areas. We have lots of information about Edsel: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is currently a registered Other. Cardone currently owns more than 4,000 multifamily units with a current portfolio value of $350,000,000. 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. I dont remember why I did this or what happened, but I started doing some internet research. He received his Bachelor degree in Chemistry from Hope College and his JD from Valparaiso University School of Law. He was raised in well-settled family background. Priya is a licensed CPA, Certified Internal Auditor and a Chartered Accountant. Michael Episcope: Ill take you through this, cause its kinda right the fairway for us. Gina serves as an Investor Relations Support Specialist. As Managing Director of Investment Management at Origin, Marc is accountable for the performance of Fund investments and execution of property-level business plans. And thats what I was talking about. She received her Bachelor of Arts Degree in Communications from the University of Illinois at Urbana-Champaign. In 2020, Schmidt penned the book - "Inside the Struggle to Stop a President.". We both had a lot of good friends; high net worth. So if things do happen, youll be able to ride the ship. Prior to joining Origin, Vince worked at Duff & Phelps where he conducted business enterprise and intellectual property valuations for use in the corporate acquisition process. Michael Episcope: Yeah. The markets are a little bit frothier today. It was a phenomenal time, a great experience. Prior to joining Origin Investments, Kevin worked at Stony Point Development Group, a developer and investor focused on direct developments, limited partner investments and core acquisitions in Virginia and the Carolinas. I could barely get my head through a door cause I thought I was a real estate god and you know. Investors who are locked into real estate assets are spared from the temptation of panic selling that ruins so many stock portfolios. 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. She joined Origin in early 2017 after spending nearly a decade at Morningstar, Inc., a leading provider of independent investment research. They will discuss Origin's first closed deal in. Rod Khleif: Let me ask you this, maybe its just because of the way the fund is structured but if its a quality asset like that, and youve raised the value obviously significantly, you could probably refinance and cash out Well, I get it. No. You shouldnt be comparing returns. Ken joined Origin in 2018 as an Associate on the Investment Management team. Kyle lives in The Nations neighborhood of Nashville. Students Get $20 Off $100+ Worth of Orders . He has been a Vistage member for more than six years and lives in Chicago with his wife and three children. Prior to joining Origin, Barbara was the managing editor of HOTELS, a Chicago-based publication covering the global hotel business. I mean, everybody thinks this journey to success is easy. Risk management is one of the things we do well, and its also We talk about and we meet investors, its something we talk about incessantly, and something maybe we obsess about a little bit here; about what our growth rates gonna be? Tom has worked with the Origin team for over ten years and has fifteen years experience in the commercial real estate sector. But one in particular that comes to mind is, I got pulled into a deal by a friend of mine, it was in Austin, Texas. Theres no financing available. Top line. There she assisted in all real estate transactions, including Residential and Commercial properties. Rod Khleif: Just let me stop you for a second. Prior to Evolve, he was the Marketing Specialist at Cappex.com, which connects high school students to colleges and universities. She lives in the Lincoln Square neighborhood of Chicago and enjoys travel, container gardening and all kinds of art. Michael Episcope Principal at Origin Investments Published Aug 17, 2017 + Follow This article was . Her career at Morningstar began as a marketing associate for the companys most widely-used financial advisor software system and, prior to that, she worked in marketing at Merrill Lynch Capital. Michael Episcope: And its definitely helped kind of launch, and propel the firm. Originally from Wisconsin, he is an avid Green Bay Packers and Wisconsin Badgers fan. While there, he completed the banks Leadership Development Program and was promoted to commercial banking officer, responsible for the development of new business relationships and the management of credit risk within a roughly $100 million loan portfolio consisting of both revolving industrial debt and real estate term facilities. Theyre truly a trillion dollar funds these days; in the stock market, that is. David earned his undergraduate degree from Harvard University and his MBA from the University of Chicago. Prior to joining Origin Investments, Steve was an Analyst at Link Logistics, where he was responsible for assisting in the leasing and asset management of industrial buildings throughout the Midwest. Id love to get your insights and your thoughts on Obviously, real estate goes though cycles. We dont have any debt placement fees. Guys, if you wanna reach out to Michael, hes at OriginInvestments.com. Victoria joined the firm in late 2021 and serves as an investor support specialist. But fast forward, to today, it was 76% occupied at the time of acquisition, were 96% today. Thats a great strategy. All of a sudden, I came across this website where it was a hard money lender where this sponsors name was involved, and what he had done is took our property which was fine, wasnt underwater, it had plenty of equity, and he pledged it for a loan for another property. Dave is directly responsible for investment activities across the firms target markets and collaborating with the Investment Committee to shape the firms investment strategy. Michael is a urologist, while his mom, Isabella, is an anesthesiologist. She received her undergraduate degree in Political Science from the University of Southern California and her JD from the Northwestern University School of Law. Youre pretty much locked in to that structure. Prior to Origin, Michael had a prolific trading career and twice was named one of the top 100 traders in the world by Trader Monthly Magazine. Michael Episcope: Yeah. 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. Michael Episcope worked as a commodities trader for 15 years while investing passively before deciding to take things a step further and earn a master's degree in real estate. During the unpredictable Chicago winters, she tries to stay active and has found skiing and skating in the park to be her favorite wintertime activities. Rod Khleif: Yeah. The ones that didnt go so well, I learned quite a bit. Some things he enjoys in his spare time are playing golf, spending time outdoors, skiing in the winter and heading to the lake in the summertime, as well as, cheering on Marquettes basketball team. By the time the partners closed a $151 million fund raised from 450 investors last June, they'd transformed the company into something different: a real estate private equity fund that uses crowdfunding-like tactics to raise money from family offices and high-net-worth individuals. We try to make it better and look at the things we do well, things that we can improve on and things, and things like that. 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 look at it today, and its worth two to three times more than what they sold it for. Preceding her most recent experience she was in the Mortgage Servicing Industry at Fay Servicing, Energy Monitoring & Consulting at Mad Dash, Inc. Episode Highlights Trends High Net Worth investors should consider as they begin to allocate more funds to alternative investments. Then in April 2016, she joined the Origin family. . Before his current role, he served as Vice President of Asset Management for Origin Investments, overseeing the firms portfolio assets. 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. What are your thoughts about whats coming up and on the horizon? Rod Khleif: Welcome to another edition of How to Build Lifetime Cash Flow Through Real Estate Investing. Rod Khleif: Thats the key Michael, youve added tremendous value today. Bill received his BFA from the School of the Museum of Fine Arts, Boston in partnership with Tufts University (SMFA at Tufts). Michael Episcope: And I will tell you, Rod that is the common theme. A business plan generally takes anywhere from 18 to 36 months, and instead of generating 7%, a stabilized asset, maybe well generate 12% in two years and well get some level of appreciation. All of our deals have to work well together and in order for us to get paid cumulatively, a fund has to generate more than a 9% return. Origin builds, buys, and lends to class A multifamily real estate in tax and . 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. He earned an MBA with a concentration in Real Estate Finance & Investment from DePaul University and Bachelor of Science with a degree in Finance from The University of Central Florida. . 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. Michael Episcope: Some of the thing we do is were positioning ourselves in really high quality assets. Michael Episcope: Thats a little bit on the equity amount. I know you do multifamily and office but obviously our focus is multifamily, but talk about how you get going. My experience in real estate actually extends back to kinda when I was 11, 12, 13, working for my grandfather in the summers. He remains active in the community and alumni Programs for both MSU and the Evans Scholarship House. Rod Khleif: Its the most important parameters. She currently resides on the near North side of Chicago, and in her free time she enjoys dropping into the occasional yoga class and lifting weights. Michael is co-CEO of Origin Investments, co-chairs the Investment Committee, and oversees investor relations, marketing and company operations. Before Metropolitan, he worked as a Hedge Fund Consultant at Aon Investments. What were trying to do is really take, what we call, core plus risk and deliver value add returns. Cause you touched on it with me offline, Id like my listeners to hear that. Originally from China, Grace came to the U.S. in 2011 to pursue a Master of Science in Accounting degree, which she received in 2013 from the University of Illinois at Chicago. I saw the impact that a good real estate Proper real estate investing could make. In today's show, I am joined by Michael Episcope. Marc has 27 years of experience in asset management, acquisition, disposition, underwriting and valuation, leasing, debt structuring, risk management and due diligence for both public and private real estate investments. Give us an idea of what sorts of things you might do to add value to a nicer asset like that. Rod Khleif: But you realize the long-term value of blowing these investors minds with these incredible returns. Rod Khleif: You have to be continually learning. Michael Episcope: Then we had nine that we bought out over time. Youre doing things that Youre certainly separating all the utilities, which can be a real asset to your bottom line if everythings separately metered. Chris received his undergraduate degree in Accounting & Finance from Saint John's University (MN) and a masters degree in Real Estate from DePaul University. Cardones average ROI has exceeded 200% on 22, Chris Voss Author of Never Split The Difference Former FBI Hostage Negotiator. Ep #183 Grant Cardone Controls Over 4,000 Apartments Worth Over a Half a Billion Dollars. 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. He and his partner started the company to invest their own capital into real estate. Michael Michele (born August 30, 1966) is famous for being movie actress. With Daves leadership, Origin has executed more than $2.6 billion in real estate transactions. He received a Bachelor of Business Administration with a major in Real Estate and Urban Land Economics from the University of Wisconsin, Madison. Michael Dell's fortune surpassed $50 billion for the first time after his . Previously, Michael was a Board Member at Illinois Education Fou ndation and also held positions at Meer Development, CME Group, Tradelink, Bracket Partners. Tijana also has experience as a residential sales broker where she was able to help several first-time homebuyers and investors. A life-long Chicagoan, Geoff enjoys music, traveling, learning new skills, and spending time with his wife and son. Michael Episcope: When an investor commits to a fund, they start paying fees on their entire commitment on the day they commit. We started out in a much different position as most managers, where we were investing our own capital. Prior to joining the Origin team in November of 2021, she worked as a Real Estate Executive Assistant/Office Manager at Realty Of Chicago.
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