Michael Episcope is a Principal at Origin Investments based in Chicago, Illinois. In this business, its really about selecting the right manager, the right people. Prior to Origin, Daniel worked as an auditor at Grant Thornton, working on clients in the auto and medical manufacturing field space. I can give you a couple of examples if you want. Market. As Managing Director of Investment Management at Origin, Marc is accountable for the performance of Fund investments and execution of property-level business plans. Check out this great listen on Audible.com. In his free time, he enjoys cooking, listening to music, and traveling. 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 worked closely with the Acquisitions team to build the foundation of Origin Multilytics. It has a ton. This was consistent with the thesis. Michael is co-CEO of Origin Investments, co-chairs the Investment Committee, and oversees investor relations, marketing and company operations. Rod Khleif: Gives a diversification of risk, for sure. With Michael's 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. She strives to discover the finest solutions to all design problems. Prior to Ventas, Kate served as a manager of the LEAN consulting group at Discover Financial Services. 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. Ill take you back a little bit farther maybe than you wanna go Born and raised in the Chicago area. Michael Episcope is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. . Prior to joining Origin Investments, Dave spent six years at Deutsche Banks global commercial real estate investment and advisory division known as RREEF. .. Michael Episcope: Well, youre not alone. Then in April 2016, she joined the Origin family. You shouldnt be comparing returns. 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. Her responsibilities include producing and publishing a broad range of content to inform and educate Origin's investor community. There he led operations with his 11-years of experience in leasing & marketing, value-add construction management, property management technology, and training. 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. Dr. Dahle's conversation with Origin Investments about what all high-income earners need to consider when investing to grow their net worth.The White Coat In. She lives with her husband and son in Hinsdale. Two years later, she took a role as a Property Accountant at SLM Realty, LLC., where she was first exposed to the real estate industry. Michael Jordan is still, quite possibly,. 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. 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. 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.. Michaels done pushing a billion dollars worth of transactions, with a B. Vince joined Origin in 2017 and he leads Origins fundraising and investor relations department. (No Ratings Yet) 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. And thats exactly what were talking about here. Michael Episcope is Co-CEO of Origin Investments in Chicago founded in 2007. Aenean nec cursus diam, eget consequat mauris. Michael Episcope: And I will tell you, Rod that is the common theme. In 2020, Schmidt penned the book - "Inside the Struggle to Stop a President.". Im Rod Khleif and Im thrilled youre here. In that role, Dan facilitated the internal and external movements of custodial accounts to other IRA custodians. I mean, with an Excel spreadsheet, you can make any deal look great. I mean, for the quality of that management [overlap talk]. Understanding capital commitment fees Tom currently resides in Denver with his wife and children, is a cyclist, skier and loves to travel. Within her years of real estate Executive assistant experience, she helped maintain communication with all parties. 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. He was twice named a top 100 trader by trader monthly magazine. Maria graduated from Loyola University Chicago in 2021, receiving her bachelor of science in psychology and a minor in sociology. Developers have enjoyed years of consistent, reliable rental rate growth, with the average rent growing 13.5% in 2021 and another 6.2% last year, according to Yardi Matrix. Garrett moved to Chicago 2 years ago and lives in the Lakeview community. Its fantastic. Rod Khleif: Okay. Give us an idea of what sorts of things you might do to add value to a nicer asset like that. Dave is directly responsible for investment activities across the firms target markets and collaborating with the Investment Committee to shape the firms investment strategy. They had a matrix. Kirk Franklin - $8.5 million Recording artist Kirk Franklin attends the BET Inauguration Ball in Washington, DC. It wasnt rent raise, it was just your Yeah. Before his current role, he served as Vice President of Asset Management for Origin Investments, overseeing the firms portfolio assets. 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. This was fantastic. Michael Episcope: Yeah. Although I will say that going into fund for, one, a thing we always do is from for each fund, were sort of iterating. She is an avid reader, traveler and concert-goer. Origin builds, buys and lends to class A multifamily real estate, in a tax and climate-friendly state. 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. Jennifer serves as Office Manager and Executive Assistant to the Co-CEOs Michael and David. We got this thing for a song. Rod Khleif: Right. But I can't accept not trying." - Michael Jordan . . While growing up, she worked as a bartender, and that is how Ashley met her husband, a real estate millionaire, Michael Darby, whose empire is worth $20 million. Grace enjoys cooking, singing, painting and traveling. Michael talks about how Origin is navigating the current real estate market, its venture in Qualified Opportunity Zones, and the funds it . Michael Episcope: In Chicago, yeah It really afforded him a lifestyle It was nice. Give us some examples. Rod Khleif: Yeah. Michael earned his undergraduate and masters degrees from DePaul University. 27 February 2023 are david buder and lori schulweis still married are david buder and lori schulweis still married It was the right thing to do at the time. Origin builds, buys, and lends to class A multifamily real estate in tax and . And we understand that that is just as important as generating returns and letting investors know how youre doing it. Rod Khleif: Right. Katina is a Senior Associate on the Investor Relations team. 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. At AlterDomus, Garrett provided portfolio administration and cash management services for several credit fund portfolios. I dont remember why I did this or what happened, but I started doing some internet research. Michael Episcope: Yeah. 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. We both had a lot of good friends; high net worth. She was responsible for leading the graphics department with a team of 7, creating all marketing collaterals and unique packaging designs for products including sparkling wine, gin, rum, cognac, and tequila. I was sort of the 35 years of age, I was the old guy in the class, which was kinda fun as well but I just believe in continuing education, learning and things like that. 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. At the age of 19 years old I got a summer job down at the Chicago Mercantile Exchange and that was between my freshman and sophomore year of college at DePaul. 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. . 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 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. 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. Everybody knows my $50 million seminar in 08, and Ive been through other cycles as well that were equally impactful, negatively impactful. Michael Episcope: I think thats where a lot of people make the mistake, its looking at, and comparing returns to one another. Justin joined Origin in October of 2022 as an Investor Relations Generalist. Michael has an estimated net worth of $65 million, according to Celebrity Net Worth. Those of you that are doing your own syndications, do not short-circuit that process. You look at it today, and its worth two to three times more than what they sold it for. He enjoys traveling with his family, snowboarding, and frequents ski resorts all over North America. A year later, we started our first fund, if you will, and all of those investors came onto that fund [overlap talk]. 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. Wedge Brands, an outdoor industry holdings company, got $1M from a group . Cause you touched on it with me offline, Id like my listeners to hear that. He has over 17 years of experience in real estate investing, finance, development and asset management. His clients included agencies, startups, non-profit organizations in the arts, higher education, healthcare, social welfare, as well as entrepreneurial individuals. 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. In bibendum elit libero, at sollicitudin purus placerat ac. Education + Add. 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. So if things do happen, youll be able to ride the ship. Michael is joining us from Chicago, Illinois. We started out in a much different position as most managers, where we were investing our own capital. Before Link, he worked as an Analyst on the Capital Markets Research team at JLL. Why to over communicate I assume theres an asset management fee What other sorts of fees can a person expect in a vehicle like yours? 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. Cardone currently owns more than 4,000 multifamily units with a current portfolio value of $350,000,000. And thats what I was talking about. 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, . In his free time, he enjoys golfing, playing hockey, and making music. Christopher Joined Origin in September of 2022 as a Senior Accounting Associate. She also appeared in the romantic comedy How to Lose a Guy in 10 Days and in the Academy Award . Yeah, Im just reading Ray Dalios book, Principles, all about decision making. Grant Cardone is an award winning author, sales guru, motivational speaker and success coach. Aaron is responsible for driving performance in the companys multifamily portfolio. Michael Michele (born August 30, 1966) is famous for being movie actress. What does this mean for the high net worth individual (HNWI) trying to create wealth? It really, funders charge differently. Dave is married, has three sons and lives in the Cotswold neighborhood of Charlotte. Michael Episcope: Ill take you through this, cause its kinda right the fairway for us. Spencer is responsible for underwriting prospective commercial real estate investments across all of our target markets. Adolfo Bermeo. Before joining Origin in the Fall of 2018, Bill worked as an independent graphic designer. Marc lives with his wife Carey and two daughters, Rachel and Hailey, in a north suburb of Chicago. Tijana also has experience as a residential sales broker where she was able to help several first-time homebuyers and investors. Rod Khleif: Sure. It was a phenomenal time, a great experience. Michael Episcope: Yeah. 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. 11. She is an analytical, creative and strategic thinker who views marketing as the psychology of business. You dont hold properties for legacy or long-term cash flow. Rod Khleif: Exactly. Yeah, and it was our second asset in Naperville. Prior to joining Origin, Spencer began his career as an Analyst at Blue Vista Capital Management. Michael Episcope: In our fund, we charge a 1.5% annual management fee on committed capital that ultimately reverts to invested capital. Currently, he is pursuing a Masters in Information and Data Science at the University of California, Berkeley. On-going then its 1.5% on the fund on an annual basis. It peaked at #3 on The New York Times Best Seller list. Its really Its everything we look for but its a good quality asset. He was responsible for underwriting and supporting all aspects of the acquisition process. Priya is a licensed CPA, Certified Internal Auditor and a Chartered Accountant. Jennifer is a huge Disney enthusiast. Rod Khleif: Just let me stop you for a second. Summary. Regina joined the firm in late 2021 as an Accounting Associate. In this assignment, he was able to capitalize on investments made in three REITs and ensure beneficial results. Rod Khleif: Sure And their friends, and their relatives. In preparation for the Jan. 31 date, Origin Managing Directors of Liked by. If youve enjoyed the show, please take a minute to visit iTunes and leave your comments. Michael Episcope: Thanks, Rod. Youre doing things that Youre certainly separating all the utilities, which can be a real asset to your bottom line if everythings separately metered. Rod Khleif: People from your trading background. a private equity real estate firm serving nearly 3,000 high-net-worth individuals. Ut porttitor ligula eu elit ornare tincidunt. The markets been great for the last couple of years. Marc holds a Bachelor of Science in Business from the Kelley School of Business at Indiana University. Got it. And again, we feel that that is an institutional pricing standard in the business. "We believe that investors deserve the most talented and disciplined team to actively manage their real estate investing portfolio. 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. Rod Khleif: Its a fantastic book about an effective decision making process. Michael Episcope: Were in Chicago, Denver, Dallas, Austin, Houston, and then Charlotte, Raleigh, and Atlanta. Robyn Dixon - $3 million. Its interesting. They had to give it back to the bank, or they had to sell it. Its for our acquisition team who are in their markets. He has more than 25 years of investment and risk management experience. North Hills, CA. They will discuss Origin's first closed deal in. Michael Episcope: That was a lesson. So Im a big boy, the markets went south, and I can handle losing money. But one in particular that comes to mind is, I got pulled into a deal by a friend of mine, it was in Austin, Texas. 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. 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. Prior to joining the Origin team, Phil began his career as a development associate for General Growth Properties. Michael Episcope: Yeah. 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. . "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." . Its in a fund, so never mind. 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. Tijana joined our team as an Investment Management Analyst. What were the decisions? +1-941-225-8477. In his current role, Ken is responsible for the execution of asset-level strategies and business plans and oversight of development projects from the time of acquisition throughout the deal lifecycle to disposition. She helps her husband . 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. Her current net worth is $8 million. 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. Daniel is responsible for fund level accounting and monthly reconciliations across all funds. 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: Sure. Thats a brilliant strategy, Michael. He currently resides in the Lincoln Park neighborhood of Chicago and enjoys traveling, cooking, and spending time with family & friends. Michael is admitted to the Illinois Bar and the Northern District of Illinois. Horacio spoke with Michael Episcope, the co-CEO at Origin Investments. Michael Episcope: Yeah. 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. He is a member of the Atlanta Apartment Association, a Certified Apartment Portfolio Supervisor, and Certified Apartment Manager. Maria lives in the Bridgeport neighborhood of Chicago and enjoys travel, reading and hot yoga. I mean, everybody thinks this journey to success is easy. Rod Khleif: The lesson was, you looked at the asset and the asset looked great. Michael Episcope: I used to spend my summers with him, and I really. It all is influenced by that notion of alignment, and where you sit. 242 S. Washington Blvd Suite 319Sarasota, FL 34236. Im happy to talk about that a little bit. She lives in the Gold Coast neighborhood of Chicago and in her spare time enjoys cooking, Pilates, and teaching youth dance classes. Welcome to the show, buddy. 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%. The value of continuing education Michael has helped build Origin Investments from a small real estate investment company, to one of the best-performing companies with more than $1 billion of assets under management. He also assembles . What are the eight markets that youre in? His primary profession as a comedian has allowed him to amass enormous wealth. He received his Bachelor degree in Finance from The University of Connecticut. Top line. Isabela still enjoys playing soccer and staying active as well as volunteering, reading and traveling. 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. There she assisted in all real estate transactions, including Residential and Commercial properties. Theyre truly a trillion dollar funds these days; in the stock market, that is. Tune in next week for our next show. Aaron lives with his wife and daughter in Alpharetta, GA. As it stands today, we are buy-fix-sell, so typically the average hold-period is probably three and a half years. RELATED: 15 Times Seinfeld Was Hilariously Accurate About Life It certainly will turn around at some point, and I believe that you buy good real estate, you add value to it, you appropriately capitalize it and youll have some dry powder on the side. We started talking about that before we started recording. We actually just acquired an asset. He was awarded the MSU Evans scholarship for an outstanding caddie record and academic excellence; Graduating from Michigan State in 2019 with a Bachelor of Science and minor in international business. How about some seminars, or times you got your nose bloodied, or learning experiences? His investment philosophy is rooted in risk management and value creation, and he's been an active real estate investor for more than 15 years. Theyre fairly sophisticated but Id like you to break down why you like a fund versus individual syndications for specific properties. Jonathans responsibilities include expanding the firms investor base and serving the needs of our Registered Investment Advisor and high-net individual investors. Youre coming in at 33%. Justin graduated from DePaul University in 2019 and earned his Bachelor of Science in Finance. As of 2020, Wendy Osefo's net worth is $1.5 million. In fact, he became the first billionaire player in NBA history when his net worth crossed the billion-dollar mark in 2014. Michael Episcope: We have renovated 30 units. Dan joined the team at Origin in 2022 as an Investor Relations Support Specialist. Guys, if you wanna reach out to Michael, hes at OriginInvestments.com. 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. What markets are growing? I think Class C might be generous in some of that stuff. Scott explains that with commercial real estate, the value is based upon the net operating income . Awesome. 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 paved the parking lot. Jimmy serves as an accounting associate here at Origin Investments. 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. Following his time at MB and prior to joining Origin, Ken worked as a project manager for Landmark Building Group. Prior to joining PRG, she served as Financial Analyst for DBRS, a credit rating agency for commercial mortgage-backed securities, from 2015-2017. Kate's true passion (outside of work) is investing and advising early-stage startups. Prior to joining Origin, Barbara was the managing editor of HOTELS, a Chicago-based publication covering the global hotel business. Michael Episcope: No, we dont. Michael Episcope: And its definitely helped kind of launch, and propel the firm. A life-long Chicagoan, Geoff enjoys music, traveling, learning new skills, and spending time with his wife and son. 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. Kate joined Origin in 2021 after a tenure at Ventas, a S&P 500 company and a leading healthcare REIT. We have lots of information about Edsel: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is currently a registered Other. 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. Michael Episcope: Potentially, yeah, if it were an individual asset thats not the strategy. Michael Episcope: Well, thank you for having me on the show. Michelle is a gamer and enjoys spending her free time playing online video games. Of that 16 years, I traded for about 10 years. That was kinda the impetus of us starting together. Rod Khleif: Welcome to another edition of How to Build Lifetime Cash Flow Through Real Estate Investing. Douglas Bibby, President of the National Multifamily Housing Council tells us the multi-family industry needs 300,000-400,000 units delivered to the US market each year to meet demand. 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].