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. Being a graphic designer isnt just a job for her; its a vocation. 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. When it all crashed and burned, there were a lot of broken ones where some of the units have been sold. Michael Episcope: Yeah. So if things do happen, youll be able to ride the ship. episcope: [noun] a projector for images of opaque objects (such as photographs). In whatever I do, even in my personal life, I only invest in with fund structures because maybe I know a little bit too much about that but if I was looking at individual deals, I would have no clue about how to ascertain one from the other cause its not what I do full-time in any business. She managed daily web and monthly print publishing schedules, oversaw operations and interviewed owners and operators around the world. Dan joined the team at Origin in 2022 as an Investor Relations Support Specialist. Im happy to talk about that a little bit. So even if youre reinvesting that capital, youre only reinvesting 75% of that profit rather than 100%. Rod Khleif: Sure. Get contact info, address & run background checks for Michael Sims. 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. We can borrow from one asset to fix another and shore up. He enjoys traveling with his family, snowboarding, and frequents ski resorts all over North America. Dan graduated in 2019 from North Central College in Naperville with a Bachelor of the Arts with a major in Finance. Vestibulum in sem nunc. Dave is directly responsible for investment activities across the firms target markets and collaborating with the Investment Committee to shape the firms investment strategy. Marc lives with his wife Carey and two daughters, Rachel and Hailey, in a north suburb of Chicago. Then in April 2016, she joined the Origin family. 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. 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. Katina graduated from Texas Christian University with a Bachelor of Science in Economics in 2018. She strives to discover the finest solutions to all design problems. 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. Providing guidance with clear understanding of where they stand everyday. Michael Episcope: Yeah. Michael Episcope: I think what I fell for was the deal itself. There was this big gap between the large institutions, family office, those who had a lot of money, an investor looking to put in half a million, one million, five million, even $10 million, with a manager. 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. She received her BBA degree in Finance and Management from Florida International University. Seasons: 7, 9, 12, 17, 19, 22. Kyle lives in The Nations neighborhood of Nashville. We sort of stopped and said, Look, we can take this down with our own capital but what do we want to be when we grow up. Rod Khleif: What other fees? We bought an asset in Naperville, Illinois. Maria lives in the Bridgeport neighborhood of Chicago and enjoys travel, reading and hot yoga. What is the proper debt to equity structure? Michael Episcope: Yes, we got together in 07, and in the beginning, in the first two years, it was all our own capital. 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. In today's show, I am joined by Michael Episcope. 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. But I can't accept not trying." - Michael Jordan . But fast forward, to today, it was 76% occupied at the time of acquisition, were 96% today. I can give you a couple of examples if you want. Jennifer serves as Office Manager and Executive Assistant to the Co-CEOs Michael and David. At Northwestern, Tommy played on the baseball team and was a member of the Leadership Council Institute. He is co-CEO, co-chairs the investment committee and oversees investor relations and capital raising. Thats a brilliant strategy, Michael. Melissa received a Bachelors degree with a major in Strategic Communications from the University of Kansas and a Masters degree in Integrated Marketing Communications from Northwestern University. David Scherer formed Origin Investments in 2007, along with co-founder Michael Episcope. Phil loves to travel, participate in sports leagues and cheer on the Cincinnati Reds and Bengals. Michael Episcope: Yeah, management of cash flow. Its the decision making that matters. 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. Ill tell you though, I wouldnt trade it for anything, even though I made a ton of mistakes, and I learned a ton, but it has really helped shape me as an investor and what I am today, and why I do what I do. Youre doing things that Youre certainly separating all the utilities, which can be a real asset to your bottom line if everythings separately metered. One of his breakout roles came in 1982 when he began portraying Alex P. Keaton on Family Ties. Michael Episcope: It came to fruition in 08. Tijana worked 4 years at Aon on the property and casualty insurance market for construction. As you know, Rod, population centers, job growth, population growth, thats where you wanna position yourself. Michael Episcope Principal at Origin Investments Published Aug 17, 2017 + Follow This article was . Its really Its everything we look for but its a good quality asset. Suburban multifamily has been sort of all out of favor and we saw the cranes that are happening downtown and everybody believes that every millennial is gonna live in the city. He Graduated DePaul University with a Bachelors of Science in Accountancy. I mean, no tree grows to the sky. Taking the leap into entrepreneurship, Taylor started a company that provided replacement cars to people who had suffered stolen or damaged vehicles. With Daves leadership, Origin has executed more than $2.6 billion in real estate transactions. We need to know that theres robust job market growth in there. So many, I would say 50% of them, we were able to buy back in the first three months and people were so thankful to us even to come there to provide them with an exit strategy. In his free time, Dan enjoys exploring the many bars and restaurants in Chicago. Because sounds to me like that might be an asset that youd wanna keep, if it werent in that scenario. He has over 17 years of experience in real estate investing, finance, development and asset management. He enjoys keeping up with the local music scene and cheering on Minnesota sports. Prior to joining Origin full-time, Ryan was a Data Scientist intern. He is a runner, frequent traveler, amateur tennis player, and beach/pool enthusiast. Michael is the former president of the DePaul Real Estate Alumni Alliance and a sustaining sponsor of the DePaul Real Estate Center. He was involved in the underwriting, assessment, management and liquidation of commercial real estate and recommendation of resolution strategies for non-performing loans. She is a life-long resident of Chicago and lives with her husband, daughter, and dog in Forest Glen. 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 . 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]. Now let me ask you this, what are your thoughts on the looming contraction? I went to DePaul University as an undergrad. 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. She was responsible for reporting segregated funds to the CME, managing account holders funds, & overseeing accounts payable for the organization. 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: Then we had nine that we bought out over time. Brilliant strategy. We had a deal that we kind of We ended up buying a distressed pool of debt from a bank and it was one of these crazy days when the market was down 800 points, and you know, everything was down. Dan currently lives in Uptown, enjoys golf, and cheering for the Detroit Lions! Its committed that ultimately reverts to invested equity and on the back end, we have a 20% performance fee. He has closed over $2.3 billion of transactions and has raised or invested principal funds of over 56 million and averaging a gross IRR of 30%. Watch On YouTube. Rod Khleif: Right. He remains active in the community and alumni Programs for both MSU and the Evans Scholarship House. 2017 BILLIONAIRES NET WORTH as of 3/20/17: $1.3 B. Tuchman's wealth is based on his gigs as . I dont really think about this, right? Thanks to the . He has more than 25 years of investment and risk management experience. Michael Episcope is also a principal and co-founder of Origin Investments. Rod Khleif: Yeah, I mean thats why the index funds are the largest on the planet. 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. I really wanna flag that for you, guys. A no big deal apartment building, but the individual who were investing with, he didnt have a tremendous amount of experience. Within her years of real estate Executive assistant experience, she helped maintain communication with all parties. That can also be a big negative. Michael Episcope: Yeah, this idea that you actually think that you know what youre doing In the long run, the law of large numbers will prevail, and youre gonna lose money. Why real estate? Episode Highlights Trends High Net Worth investors should consider as they begin to allocate more funds to alternative investments. Rod Khleif: Guys, just so you heard that, hes in at the third equity instead of the typical agency debt. 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. 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. 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. I think being an investor at the firm, and a manager, and a principal, puts me and my partner, in a very unique position. 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. An individual syndicator they charge acquisition fees where fund doesnt. And a sustaining sponsor of the Leadership Council Institute instead of the Arts with a Bachelors of Science Economics... 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