When we walked into these units, the 264 that we did acquire It was like waking into a time warp. Thanks to the . Previously, Michael was a Board Member at Illinois Education Fou ndation and also held positions at Meer Development, CME Group, Tradelink, Bracket Partners. With Michael's leadership, Origin has more than $1.3 billion in equity under management . She is instrumental in executing marketing campaigns to drive new investors for our private real estate funds. When we went out, this was in 2010, and it was crazy times then and this was We syndicated some smaller deals prior to that but we had a good network. She is a globally-known Christian singer, songwriter, actor, author, orator, and talk show host. 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. Id be happy to. In fact, he became the first billionaire player in NBA history when his net worth crossed the billion-dollar mark in 2014. What did you do to get out there and meet people, and get them excited about what you were doing? Gwen Stefani. 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. How about some seminars, or times you got your nose bloodied, or learning experiences? He was raised in well-settled family background. Originally from Wisconsin, he is an avid Green Bay Packers and Wisconsin Badgers fan. Thats a big clue guys. 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: Yeah. Founded in 2007 by David Scherer and Michael Episcope, Origin is a leading manager. Kevin was a member of the development & acquisitions teams focused on large multifamily driven mixed-use developments in the Washington, DC area. Check out this great listen on Audible.com. Im glad you asked that too because in this business you learn a lot more from the deals that go wrong and the mistakes. Grant Cardone Controls Over 4,000 Apartments Worth Over a Half a Billion Dollars. Michael Episcope: No, but I have it on my desk, my partner [overlap talk]. He was twice named a top 100 trader by trader monthly magazine. Tijana joined our team as an Investment Management Analyst. Rod Khleif: Okay. Before Link, he worked as an Analyst on the Capital Markets Research team at JLL. Market. An affluent community[overlap talk}. Why to over communicate Theres no financing available. He paved the parking lot. Specialist vs Generalist Lorem ipsum dolor sit amet, consectetur adipiscing elit. Preston is responsible for underwriting prospective commercial real estate investments across all of our target markets. He has been a Vistage member for more than six years and lives in Chicago with his wife and three children. She also likes to watch Netflix and going out to eat sushi. Michael Episcope: Potentially, yeah, if it were an individual asset thats not the strategy. Webinar today at 11AM CT: Join Origin Co-CEO Michael Episcope and Managing Director of Acquisitions Dave Welk for our IncomePlus Fund webinar. Its really Its everything we look for but its a good quality asset. Kevin resides in Charlottesville, VA, where he enjoys golf, traveling, and cheering on DC sports. He received his Bachelor degree in Chemistry from Hope College and his JD from Valparaiso University School of Law. In her free time, Tijana enjoys to workout, read books, and spent time with her family and friends. It was the right thing to do at the time. In his free time, he enjoys cooking, listening to music, and traveling. In today's show, I am joined by Michael Episcope. I mean, everybody thinks this journey to success is easy. We have lots of information about Edsel: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is currently a registered Other. During his decade long tenure at Equity Office, Marc performed underwriting and valuation analysis on corporate acquisitions with a total value in excess of $15 billion and developed and executed investment strategy for assets with an aggregate value over $2 billion. Lastly, Kevin began his career working for Clark Construction as a project engineer in the Washington D.C. metro area. 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. 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. Michael Episcope: Yeah. Priya is the controller of Origin Investments and joined the team in June 2009. Prior to joining Origin, Suyen spent 8 years at BlackRock as a Vice President on the Portfolio Management team covering Residential Credit. Theyre fairly sophisticated but Id like you to break down why you like a fund versus individual syndications for specific properties. Michael Episcope: I was probably 40 years old then. Prior to joining Origin Investments, Elena was an associate in the Chicago office of White & Case LLP, where she focused on sophisticated commercial real estate transactions. Thats very different if youre buying 20 individual deals. I started hearing things through my friend, and some of the projects that he was involved. She is a life-long resident of Chicago and lives with her husband, daughter, and dog in Forest Glen. Kyle is responsible for sourcing, structuring, and execution of new acquisitions across Nashville and Central Florida. 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. REAL TIME NET WORTH as of 3/21/17: $1.34 B. He is an avid outdoor hobbyist and ultramarathon runner. Victoria graduated from St. Olaf College where she received a Bachelor of Arts in Economics with an emphasis in Finance. You should be comparing the people behind the returns. Prior to joining Origin full-time, Ryan was a Data Scientist intern. We started talking about that before we started recording. 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. It has a ton. Christopher Joined Origin in September of 2022 as a Senior Accounting Associate. Why real estate? Daniel is responsible for fund level accounting and monthly reconciliations across all funds. Origin builds, buys and lends to class A multifamily real estate, in a tax and climate-friendly state. 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. 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. Michael Episcope: And I will tell you, Rod that is the common theme. We think were positioned for more growth in the future out in Naperville. My first career was in commodities trading. In his free time, he enjoys spending time at the lakefront, trying new foods, and traveling. We started out in a much different position as most managers, where we were investing our own capital. Prior to Stony Point, Kevin worked at KETTLER, a leading investor, developer and property manager based in Virginia. They will be clamoring to give you money, and to tell all their friends to give you money. What were trying to do is really take, what we call, core plus risk and deliver value add returns. 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. 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. Michelle serves as a Graphic Designer here at Origin Investments. In May 2021, a judge ruled that Michael's estate was worth US$111 million. 2017 BILLIONAIRES NET WORTH as of 3/20/17: $1.3 B. Tuchman's wealth is based on his gigs as . Its interesting. Twenty per. I would caution Anyway, like find out what happened, when things went wrong, and find the references for the people who they arent giving you. He currently resides in the Lincoln Park neighborhood of Chicago and enjoys traveling, cooking, and spending time with family & friends. But I can't accept not trying." - Michael Jordan . Vince joined Origin in 2017 and he leads Origins fundraising and investor relations department. No, its critical, anytime these relationships fail, its through a lack of communication, so thats absolutely a great point. I think that the risk is exponential when you start managing other peoples money. Prior to Origin, Daniel worked as an auditor at Grant Thornton, working on clients in the auto and medical manufacturing field space. Priya is a licensed CPA, Certified Internal Auditor and a Chartered Accountant. Rod Khleif: The lesson was, you looked at the asset and the asset looked great. Jennifer went to Bradley University in Peoria, IL. We just dont believe that so as weve seen this rent gap between urban and suburban just widen, one of our thesis is that we wanna be in suburban multifamily, so when this swings, and these Millennials start moving out there that we can position ourselves for that. Worked at the Chicago Merc Exchange. And even more importantly to that, the debt has to match the business plan of the asset and making sure If were buying an office building, theres a risk that one of the larger tenants may vacate over the next two years, then our debt today has to be matched to the potential exit of that tenant. And also, once weve improved the asset and grown the top-line revenues, then we may hold it for a couple or more years to generate the cash flow, and increase the multiple on equity. Michael Jordan is a retired American basketball player, team owner, product endorser and entrepreneur. He previously worked at Mark Anthony Brewing where he was responsible for leading the accounts payable process for over 50 vendors relating to co-packers, raw materials and packaging for Mikes Hard and White Claw. Bill is on the marketing team, where he leads marketing strategy and produces creative assets for marketing campaigns including blog graphics, email templates, landing pages, and other branded materials. Naperville is the third largest city in Illinois. When I look back, I could look at a deal, and I was trying to evaluate people, and he was vouched for by a good friend of mine, but you fast-forward a couple of years and we went into very bad times. . 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. She. Prior to Origin, Regina was a Senior Treasury associate for 5+ years at Straits Financial, a Futures Commissions Merchant, based out of Chicago. Kors reached billionaire status in 2014, but most recent estimates put him closer to a net worth of $600 million today. He received his Bachelor degree in Finance from The University of Connecticut. He actually managed, and owned a lot of Class C workforce housing. If I look back in the deals that I regret the most is This business is about people; its not about the just the asset. We had to cut people back and limit the amount they could invest, because what were trying to do is build goodwill with a stable group of investors at that time. Kevin is responsible for driving performance of the companys multifamily development projects & partners. Youre pretty much locked in to that structure. Maria serves as a marketing associate at Origin, working with and supporting all marketing channel owners. Youre coming in at 33%. Therefore, American journalist Michael S. Schmidt has an estimated net worth of $2 million. She enjoys creating bold, minimal styles by focusing her layout skills using typography and grids. Originally from Portland, Oregon, Elena now lives in the Andersonville neighborhood of Chicago. So if things do happen, youll be able to ride the ship. The Michael Kors Holding Company made headlines in 2018 when it announced . 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. Very interesting. Ut porttitor ligula eu elit ornare tincidunt. 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. What does this mean for the high net worth individual (HNWI) trying to create wealth? Previously she studied accounting as a undergrad at Capital University of Economic and Business in China. I really wanna flag that for you, guys. Let me ask you this, you obviously have incredible success, is there a dark time in this real estate journey that youd be willing to share with people? Well have that for probably another four years. Vestibulum in sem nunc. 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. Maybe youre putting in washers and dryers. 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. With his co-founder David Scherer, he created Origin to provide the same caliber of service, terms, and results that were exclusive to only large . I think theres a misnomer that funds are more expensive than individual deals, and thats just not true. Which actually add some complexity because youve got a homeowner; youve got an association associated with those units so its kinda a complex thing to get into. Michael Episcope: Yeah. 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]. 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) Vinces responsibilities include expanding the firms investor base and serving the needs of our Registered Investment Advisor and high-net worth individual investors. Looking for ways to turn your high income into a high net worth? Its certainly not as easy today as it was a couple of years ago when the capital had so much more leverage. Michael Episcope: Yeah. 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 . 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. (No Ratings Yet) Committed vs Invested equity Jacob is responsible for underwriting prospective commercial real estate investments across all property types and target markets. As it stands today, we are buy-fix-sell, so typically the average hold-period is probably three and a half years. He is a lifelong resident of Chicago and lives with his dog in Chicagos Pilsen neighborhood. Why is the asset underperforming? I saw the impact that a good real estate Proper real estate investing could make. Collin grew up in Lake Forest, IL which is a northern suburb of Chicago; he joins our Investment Management team as an Analyst. 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 If we make $100,000 commitment to fund, we dont take it all upfront because we dont have a portfolio of assets. . legal firm chicago deaths legal firm chicago deaths. Before his current role, he served as Senior Associate of Investment Management for Origin Investments, overseeing the execution and strategy of the firms assets, as well as an Associate in the Acquisitions group where he closed over $400 million of multifamily and office assets. Thats one of the distinct advantages but it comes down to creating structures that we want to invest in. He has more than 25 years of investment and risk management experience. As of 2021, Michael B. Jordan's net worth is estimated to be around $25 million. Articles by Michael Episcope on Muck Rack. 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. There she assisted in all real estate transactions, including Residential and Commercial properties. Prior to Evolve, he was the Marketing Specialist at Cappex.com, which connects high school students to colleges and universities. And again, we feel that that is an institutional pricing standard in the business. 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. At Stony Point, Kevin grew to lead the day-to-day management of the firm and was responsible for the entire life cycle of the firms investments & developments. 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. Michael Episcope: No, we dont. Michael Episcope: I think its not that we believe in timing the market. Michael is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. Rod Khleif: Exactly. Michael Episcope: Rod, just to back your other point, we talked about fund advantage, one of the nice things, if you have an individual deal, and it goes bad, you cant borrow from another transaction to ride the ship in that deal, cause chances are you have different investors across. Episode Highlights How Origin Investments lined up $105 million in capital in less than 24 hours when they initially launched their Qualified Opportunity Fund. Earlier in his career, Marc directed various acquisition and asset management roles at Equity Office Properties Trust, previously the nation's largest publicly traded office building owner and REIT. Rod Khleif: This has been a real high-level conversation and some of you guys heads are probably spinning from this but lets go back to when you first And I know you invested your own equity to get started. Michael Episcope: We have renovated 30 units. Ivette received her Bachelor Degree in Law Enforcement and Justice Administration in 2015 and obtained her Paralegal Certificate from an ABA Approved Program at the College of Lake County in 2021. We dont have any debt placement fees. Prior to joining Origin Investments, Tommy worked as a Private Capital Manager at Metropolitan Capital where he was responsible for managing existing client relationships and underwriting new credit facilities within the organizations commercial banking team. Born and raised in Chicago, Ken enjoys traveling, cooking, and cheering on the Cubs, Bears, and Indiana Hoosiers. She has over 12 years of accounting and financial experience in commercial real estate with a portfolio of assets totaling over $900 million. We dont have any acquisition fees in our fund. Victoria joined the firm in late 2021 and serves as an investor support specialist. Im not gonna do his bio or history any justice, so were gonna go right to you, Michael. Advertisement In his will, MJ left 40 per cent of his assets to his three children, to be split equally. 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. He is a runner, frequent traveler, amateur tennis player, and beach/pool enthusiast. She helps her husband . Regina joined the firm in late 2021 as an Accounting Associate. Cody previously worked as an accountant for the Pritzker Family Office where he was responsible for managing the accounting duties for a number of different investment entities. Join Origin Principal Michael Episcope and Dr. James M. Dahle, M.D., editor, author, and owner of White Coat Investor, on May 20th at. North Hills, CA. 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. Reputation Score: 2.59 - 3.76. In his free time, he enjoys playing basketball, traveling and spending time with his friends and family. We bought an asset in Naperville, Illinois. Chris received his undergraduate degree in Accounting & Finance from Saint John's University (MN) and a masters degree in Real Estate from DePaul University. 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. Rod Khleif: Its a fantastic book about an effective decision making process. Rod Khleif: Thats the key Michael, youve added tremendous value today. Theres another great. Upon graduating from Marquette he then took a job at CIBC Bank in Chicago on the Corporate Real Estate team. Bill has 20 years of experience in all facets of multifamily development and construction totaling over four thousand units and $1.5 billion in project costs. I went to school in Chicago. In that role, he was responsible for budgeting, scheduling, and executing the construction of custom-built single-family homes in Chicagos suburbs. 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. - Michael Episcope "Our mission from day one was to help high net-worth investors, grow their wealth, generate tax-efficient passive income, and just bringing that institutional product to people like us, people who deserved a better way to invest." Prior to joining the Origin team in December 2022, she worked as a content marketing coordinator at EveryDose, a niche startup centered on medication adherence. What we try to do here, risk management is a huge component of what we do. Prior to joining PRG, she served as Financial Analyst for DBRS, a credit rating agency for commercial mortgage-backed securities, from 2015-2017. Michael brings 25 years of investment and risk management experience to Origin. Michael Episcope: Yeah. He was responsible for underwriting and supporting all aspects of the acquisition process. In preparation for the Jan. 31 date, Origin Managing Directors of Liked by. Rod Khleif: You have to be continually learning. David Scherer co-founded Origin Investments in 2007, a top decile fund manager with expertise in building, buying, and operating institutional-class multifamily real estate across the country. 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. My experience in real estate actually extends back to kinda when I was 11, 12, 13, working for my grandfather in the summers. 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. I has some okay experiences, I had some not so great experiences, as well. 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. 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. She is an analytical, creative and strategic thinker who views marketing as the psychology of business. Michael brings 25 years of investment and risk management experience to the company and believes that calculat. 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. Its a big component of what we do today. Jonathan is a Posse Scholar and received his Bachelors degree with a major in Media Studies from Pomona College in Claremont, California. Well, I heard somebody else bring this up. Elena serves as Origin Investments assistant general counsel. Yeah, Im just reading Ray Dalios book, Principles, all about decision making. Scott explains that with commercial real estate, the value is based upon the net operating income . Thank you. Id love to get your insights and your thoughts on Obviously, real estate goes though cycles. PublicPrivate Court, Arrest or Criminal Records Michael Episcope: Trading, and other backgrounds as well. 242 S. Washington Blvd Suite 319Sarasota, FL 34236. And thats really where I built my wealth. Tommy is an Associate on the Investor Relations team whose responsibilities include serving the needs of our individual investment partners both before and after the investment process. No. I mean, with an Excel spreadsheet, you can make any deal look great. She was responsible for reporting segregated funds to the CME, managing account holders funds, & overseeing accounts payable for the organization. Yeah, and it was our second asset in Naperville. 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. Michael earned his undergraduate and masters degrees from DePaul University. But going forward, were actually, as much as I love the strategy of that buy-fix-sell, it also has its limitations, which is real estate is incredibly tax efficient, but when you sell, you have to pay long term capital gains. Tune in next week for our next show. Ep #79 Tom Wheelwright CPA, author of Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes (Rich Dad Advisors) discusses the greatest financial benefits to multifamily real estate investing. Rod Khleif: Awesome. Michael and his husband have been residents of the city of Chicago for over twenty-five years. Of that 16 years, I traded for about 10 years. Michael Episcope cofounded Origin Capital to create access to real estate investments and management expertise that were previously only available to institutions. Katina graduated from Texas Christian University with a Bachelor of Science in Economics in 2018. Aenean nec cursus diam, eget consequat mauris. Thats a brilliant strategy, Michael. 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