Michael brings 25 years of investment and risk management experience to the company and believes that calculated risk-taking in inefficient markets is the key to building wealth. The Michael Kors Holding Company made headlines in 2018 when it announced . Dave joined Origin in 2011, and, over that time, has completed over $1.1 billion of direct and joint-venture investments comprising of a host of physical and operational repositioning strategies and ground-up development of multifamily and office assets throughout Chicago and the Southeastern U.S. Taking the leap into entrepreneurship, Taylor started a company that provided replacement cars to people who had suffered stolen or damaged vehicles. Its very unusual. Prior to joining PRG, she served as Financial Analyst for DBRS, a credit rating agency for commercial mortgage-backed securities, from 2015-2017. Vinces responsibilities include expanding the firms investor base and serving the needs of our Registered Investment Advisor and high-net worth individual investors. Regina joined the firm in late 2021 as an Accounting Associate. 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. I mean, everybody thinks this journey to success is easy. Youre doing things that Youre certainly separating all the utilities, which can be a real asset to your bottom line if everythings separately metered. If youve enjoyed the show, please take a minute to visit iTunes and leave your comments. 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). Rod Khleif: Welcome to another edition of How to Build Lifetime Cash Flow Through Real Estate Investing. The investments been going very well on that side. Before ELS, she worked at Lilis Energy in Dallas, Texas, as an analyst cross-specializing in investor relations and transaction work. In 2007, Michael Episcope co-founded Origin Investments, a top-decile fund manager that helps high-net-worth investors, family offices and clients of registered investment advisors grow and preserve wealth by providing best-in-class real estate solutions. Scott explains that with commercial real estate, the value is based upon the net operating income . And also by vintage as well, which is important because we will be investing over a period of two to three year and building that portfolio. 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. Fund will charge committed capital fees. Gina graduated from DePaul University with a Bachelor of Science in Business with a major in Hospitality Leadership. Maria serves as a marketing associate at Origin, working with and supporting all marketing channel owners. He remains active in the community and alumni Programs for both MSU and the Evans Scholarship House. 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]. He has more than 30 years of investment and risk management experience and has been an integral contributor to Origins innovative practices and investment success. 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. Kors reached billionaire status in 2014, but most recent estimates put him closer to a net worth of $600 million today. Theres another great. In May 2021, a judge ruled that Michael's estate was worth US$111 million. 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. Why real estate? Im very grateful for your valuable time on the show. Michael serves as Origin Investments in-house general counsel. Interesting. Dave is married, has three sons and lives in the Cotswold neighborhood of Charlotte. 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. 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. legal firm chicago deaths legal firm chicago deaths. Youve done several funds. 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. He actually managed, and owned a lot of Class C workforce housing. Im glad you asked that too because in this business you learn a lot more from the deals that go wrong and the mistakes. 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. in 2007, Jackson had a net worth of $236.6 million: $567.6 million in assets, which included Neverland Ranch and his 50% share of Sony/ATV Music Publishing' catalogue, . Spencer received a Bachelor of Science in Business majoring in Finance and Real Estate from Indiana University. Top line. At AlterDomus, Garrett provided portfolio administration and cash management services for several credit fund portfolios. There she assisted in all real estate transactions, including Residential and Commercial properties. Rod Khleif: Or you could get lucky on a deal and have a homerun, and youre touting that success, and it was just luck, sometimes. On-going then its 1.5% on the fund on an annual basis. "A benefit of investing in real estate is that if I buy a property for $100,000, I know tomorrow it won't be worth $0, which is a real possibility with other forms of investing." . Michael Episcope - $1 Billion in Multifamily and Commercial Real Estate Transactions Ep #225 Michael Episcope - $1 Billion in Multifamily and Commercial Real Estate Transactions Watch Now Listen Now LIFETIME CASH FLOW THROUGH REAL ESTATE INVESTING LIFETIME CASH FLOW THROUGH REAL ESTATE INVESTING How to build good will for future deals, Book Recommendation: Principles by Ray Dalio, To learn more about our guest, click here, Join us at a Multifamily Bootcamp, visit MultifamilyBootcamp.com, Ep #225 Michael Episcope 1 Billion in Real Estate Transactions. I could barely get my head through a door cause I thought I was a real estate god and you know. Rod Khleif: Yeah. Kate's true passion (outside of work) is investing and advising early-stage startups. You shouldnt be comparing returns. She lives with her husband and son in Hinsdale. 6. Michael earned his undergraduate and masters degrees from DePaul University. 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. He was able to leverage data mining and machine learning techniques to build statistical models for internal use. In his free time, he enjoys playing basketball, traveling and spending time with his friends and family. Michael Episcope: It came to fruition in 08. With Daves leadership, Origin has executed more than $2.6 billion in real estate transactions. I just wrote an article on this. Rod Khleif: Gives a diversification of risk, for sure. . Within her years of real estate Executive assistant experience, she helped maintain communication with all parties. He was twice named a top 100 trader by trader monthly magazine. I went to school in Chicago. Michael received a Bachelor of Arts degree from Depaul University. She graduated from Marquette University with a Bachelor of Business Administration in Real Estate and Finance and was a member of the Marquette Women's Soccer Team. Michael Episcope: When an investor commits to a fund, they start paying fees on their entire commitment on the day they commit. His primary profession as a comedian has allowed him to amass enormous wealth. My experience in real estate actually extends back to kinda when I was 11, 12, 13, working for my grandfather in the summers. He was raised in well-settled family background. He primarily oversees investor relations, marketing, and company operations. Click the play button above to listen to our conversation with Michael. I mean, theyre yours; they are your rabid fans. And thats what I was talking about. As you know, Rod, population centers, job growth, population growth, thats where you wanna position yourself. Rod Khleif: As a passive investor in other deals. What we try to do here, risk management is a huge component of what we do. 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. With Michael's leadership, Origin has more than $1.3 billion in equity under management . Geoff joined Origin in the spring of 2021 after spending two years at Centro, an advertising technology firm headquartered in Chicago. 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. He received his Bachelor degree in Finance from The University of Connecticut. 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. Jordan's success in the entertainment industry has led to significant wealth, which has enabled him to live a comfortable lifestyle and invest in real estate. Frank McKinney: Real Estate Artist, 5-time International Bestselling Author, superhero meets Robin Hood, Philanthro-Capitalist, Ultramarathoner, Actor, and Visionary who sees opportunities and creates markets where none existed before. At Northwestern, Tommy played on the baseball team and was a member of the Leadership Council Institute. He worked closely with the Acquisitions team to build the foundation of Origin Multilytics. When we walked into these units, the 264 that we did acquire It was like waking into a time warp. Were under contract for the very last unit, so its taken a while to buy the other 18, but I will say that the condo owners were really stuck as well because you cant sell a condo in a broken structure. In preparation for the Jan. 31 date, Origin Managing Directors of Liked by. Jonathan joined the Origin team in early 2021. Net Worth: $6.5 Billion This college dropout and World War II Veteran was working for St. Louis Cadillac when he had his billion dollar idea. . If you get that right, then thats who you really want to put your money with, whether its a syndicate or a fund. I think that the risk is exponential when you start managing other peoples money. David Scherer formed Origin Investments in 2007, along with co-founder Michael Episcope. 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. I think that the smart investor is one who is humble and understands what he knows, and what he doesnt. 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. Kyle lives in The Nations neighborhood of Nashville. 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. Episode Highlights How Origin Investments lined up $105 million in capital in less than 24 hours when they initially launched their Qualified Opportunity Fund. Rod Khleif: But you realize the long-term value of blowing these investors minds with these incredible returns. David is co-CEO, co-chairs the investment committee and oversees acquisitions and asset management. In any deal, first of all, theres nothing more expensive than low cost real estate, so investors have to be careful about making determination based on fees alone. Present portfolios valued over almost a half a billion dollars, or more than a half a billion. We need to know that theres robust job market growth in there. Michael Episcope: Theres probably a lot of investors out there who have invested passively, and done things wrong. 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. I mean, for the quality of that management [overlap talk]. 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. Michael Blaustein's net worth or income range is between $1 million and $5 million. Priya is a licensed CPA, Certified Internal Auditor and a Chartered Accountant. Then in April 2016, she joined the Origin family. He Graduated DePaul University with a Bachelors of Science in Accountancy. This is anywhere from 20 to 25%. Taking into account various assets, Michael's net worth is greater than $499,999; and makes between $150 - 174,999 a year. Rod Khleif: Right. Prior to joining Origin, Gina worked for some of the leading luxury hotel brands, including the Peninsula Chicago and Fairmont Grand Del Mar, San Diego. 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. Ivette serves as a Paralegal here at Origin Investments. Youre hiring us to build your portfolio. Michael Jordan's net worth is estimated to be $2.2 billion in 2022, making him the richest athlete in the world. Billionaire number 1,567. Twenty per. The HVC all those things. His name is Michael Episcope, and Michael is the co-CEO of Origin Investments. Watch On YouTube. 242 S. Washington Blvd Suite 319Sarasota, FL 34236. In our case, our earlier Funds I and II had projected returns of 17-19 percent, however Fund I is on track to generate a 28 percent net return and Fund II is on track to deliver a 26 percent return. In her free time, she enjoys spending time with her family, traveling, and trying new restaurants. Jonathan is a Posse Scholar and received his Bachelors degree with a major in Media Studies from Pomona College in Claremont, California. He was an Evans Scholar recipient at Michigan State University and is still active in the community, being a part of the alumni leadership council and alumni mentorship programs. Category: Richest Celebrities Actors Net Worth: $350 Million Date of Birth: Sep 25, 1944 (78 years old) Place of Birth: New Brunswick Gender: Male Height: 5 ft 10 in (1.78 m) We just wanted to build a firm around our capital that would represent us as individual investors, in a way where we could take advantage of the market and take advantage of real estate investing and realize its true benefits. We dont have any acquisition fees in our fund. As one of Americas top real estate professionals Rod mentors business leaders and entrepreneurs through world-class speaking events, books, and training courses online and around the world. He and his wife reside in Northern Illinois with their three children, spending time watching their kids sports and walking the familys Chesapeake Bay Retriever. Michael Episcope: I think what I fell for was the deal itself. 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. We started out in a much different position as most managers, where we were investing our own capital. Ill take you back a little bit farther maybe than you wanna go Born and raised in the Chicago area. I went to DePaul University as an undergrad. Rod Khleif: Oh, gotcha. 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. Origin builds, buys, and lends to class A multifamily real estate in tax and . Rod Khleif: Guys, just so you heard that, hes in at the third equity instead of the typical agency debt. View Background Details. Horacio spoke with Michael Episcope, the co-CEO at Origin Investments. As most managers, where we were investing our own capital we.! 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