Collin grew up in Lake Forest, IL which is a northern suburb of Chicago; he joins our Investment Management team as an Analyst. What markets are growing? Michael Episcope: Yeah. Michael Episcope: Well, in our vehicle, what we do is we have a one time upfront fee that basically covers our technology, our funds syndication costs, our marketing, everything. Prior to Origin, David served as company president for a privately financed hedge fund. She currently resides in Evansville, Indiana USA. I said, Oh my god, this looks like a homerun. And you dont know what you dont know, and at that time, I didnt have a tremendous amount of real estate experience. Welcome to the show, buddy. They will discuss Origin's first closed deal in. 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. Rod Khleif: Guys, just so you heard that, hes in at the third equity instead of the typical agency debt. I agree. a healthy allocation to alternatives in an ultra-high net worth investor portfolio is attractive, because you get basically higher risk-adjusted returns when you go . Her net worth is an estimated $500,000, according to ScreenRant. She received her Bachelor of Arts Degree in Communications from the University of Illinois at Urbana-Champaign. Prior to Evolve, he was the Marketing Specialist at Cappex.com, which connects high school students to colleges and universities. Im very grateful for your valuable time on the show. You should be comparing the people behind the returns. Suyen Fernandez is part of the Investor Relations team at Origin Investments where she is responsible for capital raising and maintaining relationships with Registered Investment Advisors and Institutional clients. Interesting. Michael Michele (born August 30, 1966) is famous for being movie actress. He is co-CEO, co-chairs the investment committee and oversees investor relations and capital raising. You think you know what youre doing so you get comfortable or lackadaisical, and you dont keep your eye on the ball, and boom! Before ELS, she worked at Lilis Energy in Dallas, Texas, as an analyst cross-specializing in investor relations and transaction work. Before Joining Origin, Christopher previously worked at Northern Trust and AlterDomus. The point is, in a fund, you make that one choice of who do you want to invest with, whats their strategy, so you have one point of due diligence. 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? He was raised in well-settled family background. Michael Episcope Principal, Origin Capital Partners Michael Episcope is principal and co-founder of Origin Capital Partners, a Chicago-based real estate investment firm that invests in. The materials created by Michelle are essential to acquiring, nurturing, and converting leads, as well as engaging and retaining existing investors. Michael Episcope: Its a capital commitment fee. As of 2021, Michael B. Jordan's net worth is estimated to be around $25 million. Why to over communicate This was consistent with the thesis. Tijana also has experience as a residential sales broker where she was able to help several first-time homebuyers and investors. Investors who are locked into real estate assets are spared from the temptation of panic selling that ruins so many stock portfolios. He also worked at MSNBC and NBC News. Since 2003, Dave has been involved with the sourcing, closing and execution of more than $1.9 billion of commercial real estate acquisitions, dispositions and development projects. You look at it today, and its worth two to three times more than what they sold it for. He received a Bachelor of Business Administration with a major in Real Estate and Urban Land Economics from the University of Wisconsin, Madison. Click the play button above to listen to our conversation. Thats a great strategy. Cause you touched on it with me offline, Id like my listeners to hear that. Advertisement In his will, MJ left 40 per cent of his assets to his three children, to be split equally. Find Michael Episcope's email address, contact information, LinkedIn, Twitter, other social media and more. In that role, he was responsible for budgeting, scheduling, and executing the construction of custom-built single-family homes in Chicagos suburbs. One of his breakout roles came in 1982 when he began portraying Alex P. Keaton on Family Ties. So Im a big boy, the markets went south, and I can handle losing money. The ones that didnt go so well, I learned quite a bit. And so the very first deal we took out to a group. I started hearing things through my friend, and some of the projects that he was involved. Michael Jordan is a retired American basketball player, team owner, product endorser and entrepreneur. The additional shot of funds from these investors helped complete deals that otherwise may not have happened, Landes added. It was very challenging to find good quality deals, good quality managers. Number 7: Kenneth Tuchman. 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. And thats exactly what were talking about here. Before Equity Office Properties, Tom worked as a commercial credit analyst at JP Morgan Chase. Dave is married, has three sons and lives in the Cotswold neighborhood of Charlotte. In fact, he became the first billionaire player in NBA history when his net worth crossed the billion-dollar mark in 2014. Isabela is an assistant vice president in the Investor Relations department who is responsible for ensuring that our current investors are up to date with their investments and educating our future partners about Origins offerings. Wedge Brands, an outdoor industry holdings company, got $1M from a group . Michael Episcope: Where I kick myself, as I look back, is I cant believe I didnt do more due diligence, and invested with this guy. Kevin resides in Charlottesville, VA, where he enjoys golf, traveling, and cheering on DC sports. Now, there are funds out there that charge both a committed fee and acquisition fee. Jonathans responsibilities include expanding the firms investor base and serving the needs of our Registered Investment Advisor and high-net individual investors. Michael is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. Why is the asset underperforming? I would caution people. The investments been going very well on that side. 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. If fund for, look for changes coming up in that strategy, and more of a hybrid evergreen to buy-fix-sell to more of a buy-fix-hold. Theyre fairly sophisticated but Id like you to break down why you like a fund versus individual syndications for specific properties. Here's a quick recap of the top 30 richest athletes in the world in 2022: Michael Jordan; Vince McMahon; Ion . Horacio spoke with Michael Episcope, the co-CEO at Origin Investments. They had a matrix. Ill never One of my professors, early on, this was actually in 06, but he said, The three most important rules of real estate are never run out of money, never run out of money, and never run out of money.. Michael Episcope: Well, we bought it at very low occupancy so [overlap talk]. Michael Episcope: On a syndicator deal, what they will do is that they dont charge on committed capital, they charge on acquisition fee because for every deal that they do end up finding, theres probably 20 deals that they didnt find that they had to pay their expenses. 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. If 10 do well and 10 dont do well, youre paying a performance fee on the 10 that do well in that structure because your performance fees arent cross-collateralized at the fund level. Kate's true passion (outside of work) is investing and advising early-stage startups. We can borrow from one asset to fix another and shore up. For more resources or to connect with us further, please visit our website at rodkhleif.com. Prior to joining Origin Investments, he underwrote and transacted commercial real estate investments at Equity Office Properties. Currently, he is pursuing a Masters in Real Estate from DePaul's Kellstadt Graduate School of Business, and will be graduating in the Fall of 2022. They had never been touched since the early 80s. Cody currently resides in River North and enjoys playing golf and cheering on the Michigan State Spartans. In May 2021, a judge ruled that Michael's estate was worth US$111 million. She is an analytical, creative and strategic thinker who views marketing as the psychology of business. If you get that right, then thats who you really want to put your money with, whether its a syndicate or a fund. Grant Cardone is an award winning author, sales guru, motivational speaker and success coach. Edelisa Episcope. He has over 17 years of experience in real estate investing, finance, development and asset management. He provided superior administrative services for clients custodial accounts and alternative investment portfolios. . legal firm chicago deaths legal firm chicago deaths. Additionally, Dave was a member of the Portfolio Management group that oversaw the investment management and strategic direction for two separate account pension fund clients that had a combined asset value of more than $2 billion and comprised over 10 million square foot of multifamily, office, retail and industrial assets throughout the U.S. . 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. Rod Khleif: Sure. Now, that money can be spread across 15 to 20 deals over asset class because we do multifamily and office by geography, cause were in eight different cities around the United States. Rod Khleif: Okay. Kevin received his undergraduate degree in Civil Engineering from Virginia Tech, and an MBA from the Darden School of Business at the University of Virginia. If we make $100,000 commitment to fund, we dont take it all upfront because we dont have a portfolio of assets. Michael Episcope: Then we had nine that we bought out over time. Prior to joining the Origin team in late 2021, she worked as a Real Estate Paralegal at the Segel Law Group, Inc. How about some seminars, or times you got your nose bloodied, or learning experiences? 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. Michael Episcope: It came to fruition in 08. This field is for validation purposes and should be left unchanged. With a fund manager, if we have 20 properties in the fund, in order for us to make a performance fee at the end of the day, and the performance fee is what happens at the end when things go well we get a percentage of the profits. This is anywhere from 20 to 25%. We do [overlap talk]. We got this thing for a song. Therefore, American journalist Michael S. Schmidt has an estimated net worth of $2 million. Bills experience includes a variety of product types, such as high-density wood frame and high-rise concrete products in markets throughout the country, such as Boston, Southern California, South Florida, the Mid-Atlantic, and the Midwest. 242 S. Washington Blvd Suite 319Sarasota, FL 34236. Why the particular asset classes that you focused on. [chuckles]. At Origin, she is responsible for running our office smoothly and daily administrative duties that include managing calendar appointments, completing expense reports and arranging travel plans, itineraries and agendas. Michael Episcope: Yeah. Bill received his BFA from the School of the Museum of Fine Arts, Boston in partnership with Tufts University (SMFA at Tufts). Rod Khleif: As a passive investor in other deals. Rod Khleif: Sure. Phil received a Bachelor of Science with a major in Finance from the Wharton School of Business at the University of Pennsylvania. At Evolve, he led the strategy, execution, and analysis of multi-channel, lead-generating campaigns for more than 30 clients across specialties. Billionaire number 1,567. In her roles, Gina specialized in Front Office operations where she was responsible for managing guest feedback and supporting the team to deliver personalized service from arrival to departure. Appreciate you having me on today. We both had a lot of good friends; high net worth. An affluent community[overlap talk}. Michael earned his undergraduate and masters degrees from DePaul University. There are deals to be had but not as easy. Marc lives with his wife Carey and two daughters, Rachel and Hailey, in a north suburb of Chicago. We started out in a much different position as most managers, where we were investing our own capital. Michael Episcope: Were in Chicago, Denver, Dallas, Austin, Houston, and then Charlotte, Raleigh, and Atlanta. In 2020, Schmidt penned the book - "Inside the Struggle to Stop a President.". . Of course, the timing was terrible, you couldnt have timed it that worse than 06 but you didnt look at the operator close enough, so thats a lesson. Watch On YouTube. Vinces responsibilities include expanding the firms investor base and serving the needs of our Registered Investment Advisor and high-net worth individual investors. Ep #183 Grant Cardone Controls Over 4,000 Apartments Worth Over a Half a Billion Dollars. At Centro, Geoff focused on personalizing the companys messaging strategies and expediting adoption of their proprietary software a comprehensive solution for both brands and agencies. The Michael Kors Holding Company made headlines in 2018 when it announced . He had five, six, seven deals that were all going south. Sure. 11. In her free time, Tijana enjoys to workout, read books, and spent time with her family and friends. Give us an idea of what sorts of things you might do to add value to a nicer asset like that. Tom has worked with the Origin team for over ten years and has fifteen years experience in the commercial real estate sector. Priya is the controller of Origin Investments and joined the team in June 2009. North Hills, CA. Prior to that, he managed an owner-operated portfolio concentrated in Atlanta (Avila Real Estate), and a vertically integrated firm sponsoring multifamily focused investment funds in the Southeast, mid-Atlantic, and Northwest regions (Merion Realty Partners). Taking into account various assets, Michael's net worth is greater than $499,999; and makes between $150 - 174,999 a year. She received her undergraduate degree in Political Science from the University of Southern California and her JD from the Northwestern University School of Law. Rod Khleif: What other fees? During the summer, Grace enjoys biking along Lakeshore Drive and makes the most of the big city by exploring new places, museums, parks, restaurants and festivals. 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. Born and raised in Chicago, Ken enjoys traveling, cooking, and cheering on the Cubs, Bears, and Indiana Hoosiers. Kyle lives in The Nations neighborhood of Nashville. Phil loves to travel, participate in sports leagues and cheer on the Cincinnati Reds and Bengals. 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. And again, we feel that that is an institutional pricing standard in the business. Michael Episcope: I mean a lot of people, Im probably guilty of it as well, but a lot of people correlate, because they have money, they know more than the other person. Michael Episcope: I think what I fell for was the deal itself. Rod Khleif: People from your trading background. Rod Khleif: Its a fantastic book about an effective decision making process. He facilitated multiple events for Be The Match, a nonprofit organization founded to fight leukemia and other blood-related diseases. Upon graduating from Marquette he then took a job at CIBC Bank in Chicago on the Corporate Real Estate team. Michael is the former president of the DePaul Real Estate Alumni Alliance and a sustaining sponsor of the DePaul Real Estate Center. Any investment opportunities mentioned on this podcast are limited to accredited investors. The company was founded in 2007 by real estate fund managers Michael Episcope and David Scherer to invest their own money in office buildings and apartment developments in secondary U.S. cities. What I learned through that experience was that A couple of things, number one, real estate, especially in the private market sometimes is not so friendly for the individual investor. In this business, its really about selecting the right manager, the right people. They then brought on friends and family and then continued to grow its investor base. Tommy graduated from Northwestern University in 2018 with a Bachelor Communications and Business Institutions. Bill lives in Andersonville. Photo: @Bennett Raglin Source: Getty Images Age: 52 years He had sold 19 out of 283 units so what we did is, we came in there and bought 264 apartment units with the idea that we were gonna buy the other 19 units, put Humpty-Dumpty back together again. 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