Access Your Free Copy Of The MF Property Checklist Now And Gain The Guidelines To Securing Your Safest And Most Profitable Real Estate Opportunities. There is where she assisted in all real estate transactions including Residential, Commercial, and Real Estate Bank Owned properties. Michael Episcope: Thats a little bit on the equity amount. Before Joining Origin, Christopher previously worked at Northern Trust and AlterDomus. Why real estate? Find Michael Episcope's email address, contact information, LinkedIn, Twitter, other social media and more. 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. He received his Bachelor degree in Finance from The University of Connecticut. On March 21, 2017, Michael launched his YouTube channel with the video "It's SO HARD being a WHITE person.". Prior to Evolve, he was the Marketing Specialist at Cappex.com, which connects high school students to colleges and universities. Isabela was formerly a Senior Financial Analyst with Pritzker Realty Group where she was responsible for providing underwriting support and market research in relation to PRG's acquisition, disposition, financing and asset management activities. Michael is a urologist, while his mom, Isabella, is an anesthesiologist. I know you do multifamily and office but obviously our focus is multifamily, but talk about how you get going. Michael Episcope: Yeah. . He currently resides in the Lincoln Park neighborhood of Chicago and enjoys traveling, cooking, and spending time with family & friends. This was fantastic. The HVC all those things. Rod Khleif: So youre a buy-fix-sell investor. Michael has an estimated net worth of $65 million, according to Celebrity Net Worth. His responsibilities include forecasting rent growth, automating ETL processes, and creating analytical models for the needs of our team. Michael Episcope: It came to fruition in 08. What are the eight markets that youre in? When I transitioned out of commodities trading in 05, I went back and I went and got a Masters in real estate at DePaul University as well. I dont really think about this, right? You shouldnt be comparing returns. We dont have any debt placement fees. This was consistent with the thesis. Rod Khleif: As a passive investor in other deals. The 3 most important rules of real estate 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. Its not borderline at all. 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. If I were outside of this business, I would invest in a fund. Originally from Portland, Oregon, Elena now lives in the Andersonville neighborhood of Chicago. What is the proper cap rate? Id love to get your insights and your thoughts on Obviously, real estate goes though cycles. He provided superior administrative services for clients custodial accounts and alternative investment portfolios. Prior to joining Origin, Barbara was the managing editor of HOTELS, a Chicago-based publication covering the global hotel business. In many ways, we found a deal that really spoke for itself, and we gave it a way, and it was a great market [overlap talk]. An affluent community[overlap talk}. I just wrote an article on this. 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. For more resources or to connect with us further, please visit our website at rodkhleif.com. If that would have turned out great and I wouldnt have founded it and maybe I would still be a passive investor today, but I just looked at it and said, I can do better than this. And my partner and I came to the same conclusion and said, Lets do this. [overlap talk]. When I exited that area in 2005, it was really about taking the next stage, which is how do I protect and preserve, and grow my wealth, and beyond stocks and bonds. "We believe that investors deserve the most talented and disciplined team to actively manage their real estate investing portfolio. He also worked at MSNBC and NBC News. If you got a homerun deal And so you actually limited their investments so you could have more people in it, have more people that experience s fantastic return on that particular deal, because Ill tell you guys, once you make someone some money, youve got them. I think that the smart investor is one who is humble and understands what he knows, and what he doesnt. Prior to joining PRG, she served as Financial Analyst for DBRS, a credit rating agency for commercial mortgage-backed securities, from 2015-2017. Give us an idea of what sorts of things you might do to add value to a nicer asset like that. At Northwestern, Tommy played on the baseball team and was a member of the Leadership Council Institute. Committed vs Invested equity That can also be a big negative. Dan currently lives in Uptown, enjoys golf, and cheering for the Detroit Lions! They had never been touched since the early 80s. 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 Episcope is the Principal and Co-Founder of Origin Investments, a private equity real estate firm that serves high net worth individuals, family offices, and wealth management firms. Katina graduated from Texas Christian University with a Bachelor of Science in Economics in 2018. Prior to Centro, Geoff spent over a decade in marketing for higher education institutions, non-profits, and startups. The company acquires, owns and operates office and multifamily properties in eight U.S. markets. They then brought on friends and family and then continued to grow its investor base. Prior to joining Origin in 2020, Jonathan worked at Lakeside Bank where he provided financing solutions for commercial real estate projects throughout Chicago. While there, she was responsible for analyzing insurance risks across the different lines of business, such as Builders Risk, Commercial General Liability and Auto insurance for several owners, general contractors, and subcontractors. That was kinda the impetus of us starting together. Barbara is the content strategist in Origins marketing department. Geoff holds a Bachelors degree with a double major in Sociology and English from College of the Holy Cross and a Masters degree in Strategic Marketing and Communications from DePaul University. Michael Episcope: Its a capital commitment fee. Prior to Origin, David served as company president for a privately financed hedge fund. We both had a lot of good friends; high net worth. I would caution people. Prior to joining Origin, Priya was the controller of a privately financed real estate development company where she managed a team of accountants, and was responsible for building and managing accounting systems, internal controls and overseeing the financial reporting and operations of the firm. With Michaels 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. He loves cheering on the Wisconsin Badgers and is passionate about all things automotive. Before joining Origin Investments in 2015, Marc served as Vice President of Asset Strategy at Lightstone, a New York investment firm with $2 billion of assets under management. Its interesting. Michael Episcope: In our fund, we charge a 1.5% annual management fee on committed capital that ultimately reverts to invested capital. Were looking more at the B, B-plus, A-minus quality assets within those submarkets. Rod Khleif: Yeah. Its very unusual. Theyre fairly sophisticated but Id like you to break down why you like a fund versus individual syndications for specific properties. He enjoys spending time with family, trying to keep up with the ever-changing restaurant scene, travel, golf, fly fishing, an occasional bird hunt and Iowa Hawkeyes athletics. What does this mean for the high net worth individual (HNWI) trying to create wealth? Take care. He made sure the tennis courts were great. Maybe youre putting in washers and dryers. Tune in next week for our next show. It also had a broken condo structure, and what was interesting about that is that the previous owner, because he was embarking on a condo structure, he actually upgraded all of, what well call, the non-revenue generating components of the property. Michael is admitted to the Illinois Bar and the Northern District of Illinois. 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. Based on the stats for Michael Alan Singer's Youtube channel, the total number of video views is around 0, which means Michael Alan Singer has roughly made $0.00~$0.00 US dollars on Youtube already . On-going then its 1.5% on the fund on an annual basis. Elena serves as Origin Investments assistant general counsel. Youre pretty much locked in to that structure. Prior to joining the Origin team, Jacob worked at KPMG as a Real Estate EVS Senior Associate where he performed over $15.0 B in property and portfolio level valuations across all asset classes. Prior to Origin, Victoria worked at US Bank within the Wealth Management Division as a Portfolio Administrator II. Jonathans responsibilities include expanding the firms investor base and serving the needs of our Registered Investment Advisor and high-net individual investors. 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. We have a real powerhouse on the show today. Rod Khleif: But you realize the long-term value of blowing these investors minds with these incredible returns. Michael and his husband have been residents of the city of Chicago for over twenty-five years. 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. Origin builds, buys, and lends to class A multifamily real estate in tax and . Michaels done pushing a billion dollars worth of transactions, with a B. I dont remember why I did this or what happened, but I started doing some internet research. 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. In preparation for the Jan. 31 date, Origin Managing Directors of Liked by. Number one, if youre a passive investor, and youre not a full time real estate investor in this market, it would be very challenging for you to ascertain one good deal from another good deal, from another. Prior to joining Origin, Suyen spent 8 years at BlackRock as a Vice President on the Portfolio Management team covering Residential Credit. She enjoys creating bold, minimal styles by focusing her layout skills using typography and grids. Again, I came from the commodities trading world where they say being a good trader was more about risk management than trying to make money. Michael Episcope: When an investor commits to a fund, they start paying fees on their entire commitment on the day they commit. Michael talks about how Origin is navigating the current real estate market, its venture in Qualified Opportunity Zones, and the funds it . Preceding her most recent experience she was in the Mortgage Servicing Industry at Fay Servicing, Energy Monitoring & Consulting at Mad Dash, Inc. It was in 2007 that my partner and I got together, and we decided, and kinda came to the same conclusion that we can do this better with our own capital. Youve done several funds. Michael Episcope: And I will tell you, Rod that is the common theme. My first career was in commodities trading. As Managing Director of Investment Management at Origin, Marc is accountable for the performance of Fund investments and execution of property-level business plans. The materials created by Michelle are essential to acquiring, nurturing, and converting leads, as well as engaging and retaining existing investors. So even if youre reinvesting that capital, youre only reinvesting 75% of that profit rather than 100%. Prior to joining Origin Investments, Katina worked as an analyst at Equity Lifestyle Properties (ELS) where she focused on underwriting RV & MH developments and capital improvement opportunities. Priya is a licensed CPA, Certified Internal Auditor and a Chartered Accountant. He is an avid outdoor hobbyist and ultramarathon runner. Rod Khleif: Its a fantastic book about an effective decision making process. She is a life-long resident of Chicago and lives with her husband, daughter, and dog in Forest Glen. Justin graduated from DePaul University in 2019 and earned his Bachelor of Science in Finance. Thats a great strategy. Investors who are locked into real estate assets are spared from the temptation of panic selling that ruins so many stock portfolios. The Estate of Michael Jackson is a legal entity established following the death of American singer Michael Jackson for the purpose of administering the property of Jackson, . You look at it but there was some people who had some great real estate out there who over-leveraged and ran out of money. Its a big component of what we do today. He was responsible for evaluating, analyzing, and reconciling mutual funds, separately managed funds, and Real Estate funds to determine the Net Asset Value daily and to produce client month-end reports. 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. An individual syndicator they charge acquisition fees where fund doesnt. When it all crashed and burned, there were a lot of broken ones where some of the units have been sold. Regina received her Bachelors in Accounting from the University of Illinois at Chicago. Naperville is the third largest city in Illinois. a healthy allocation to alternatives in an ultra-high net worth investor portfolio is attractive, because you get basically higher risk-adjusted returns when you go . Michael Episcope: Well, youre not alone. It was in the late 90s, early 2000s that I began passive investing. Kate earned her B.S. Gwen Stefani. Dan joined the team at Origin in 2022 as an Investor Relations Support Specialist. Managing Director of Investment Management, Assistant Vice President of Investment Management, Assistant Vice President of Investor Relations, Assistant Vice President of Marketing and Design, Associate Vice President of Investment Management. Ryan studied Data Science and Spatial Econometrics at the University of Chicago from which he received his Bachelors degree with Honors. If you can build value and continue to build cash flow in the asset, we leverage two to one to equity. But we have adopted an institutional fee structure. Prior to Ventas, Kate served as a manager of the LEAN consulting group at Discover Financial Services. Michael Episcope: We have renovated 30 units. Check out this great listen on Audible.com. In May 2021, a judge ruled that Michael's estate was worth US$111 million. Geoff joined Origin in the spring of 2021 after spending two years at Centro, an advertising technology firm headquartered in Chicago. Ken joined Origin in 2018 as an Associate on the Investment Management team. If we make $100,000 commitment to fund, we dont take it all upfront because we dont have a portfolio of assets. 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