Michael is admitted to the Illinois Bar and the Northern District of Illinois. But what well do is well forego cash flow in the first two years. I dont really think about this, right? Michael Episcope: We have renovated 30 units. Prior to joining Origin, Spencer began his career as an Analyst at Blue Vista Capital Management. I would caution people. North Hills, CA. Born and raised in Chicago, Ken enjoys traveling, cooking, and cheering on the Cubs, Bears, and Indiana Hoosiers. Kyle is responsible for sourcing, structuring, and execution of new acquisitions across Nashville and Central Florida. She helps her husband . "We believe that investors deserve the most talented and disciplined team to actively manage their real estate investing portfolio. Phil loves to travel, participate in sports leagues and cheer on the Cincinnati Reds and Bengals. 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. He is co-CEO, co-chairs the investment committee and oversees investor relations and capital raising. Aaron lives with his wife and daughter in Alpharetta, GA. 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. Isabela is an assistant vice president in the Investor Relations department who is responsible for ensuring that our current investors are up to date with their investments and educating our future partners about Origins offerings. Those of you that are doing your own syndications, do not short-circuit that process. She is on the Young Adult Board for Horizons for Youth, a Chicago non-profit, and is a member of CREW's Network Liaison Committee. Rod Khleif: Its a fantastic book about an effective decision making process. 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 I think theres a misnomer that funds are more expensive than individual deals, and thats just not true. Michael Episcope: And its definitely helped kind of launch, and propel the firm. What we try to do here, risk management is a huge component of what we do. Michael Episcope: Yeah. He is an active member of the Real Estate Investment Association as well as the Urban Land Institute. Michael Episcope: Then we had nine that we bought out over time. 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. Rod Khleif: Yeah, I mean thats why the index funds are the largest on the planet. No. 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. During the unpredictable Chicago winters, she tries to stay active and has found skiing and skating in the park to be her favorite wintertime activities. Then in April 2016, she joined the Origin family. Marc lives with his wife Carey and two daughters, Rachel and Hailey, in a north suburb of Chicago. He has been a Vistage member for more than six years and lives in Chicago with his wife and three children. Steve is an Investor Relations Associate whose responsibilities include expanding the firms investor base and serving the needs of our high-net worth individual investors. Check BackgroundGet Contact InfoThis Is Me - Edit Court & Arrest Records View All This section can be locked, requiring permission to view. Michael Episcope: I think its not that we believe in timing the market. 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. Rod Khleif: Right. In order to finance his lifestyle, at one point Michael took a $380 million loan from Bank of. 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. 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. Preceding her most recent experience she was in the Mortgage Servicing Industry at Fay Servicing, Energy Monitoring & Consulting at Mad Dash, Inc. Some went fine and some that didnt go so well. Actress best known for her role as Dr. Cleo Finch on TV's ER. Real estate's role in the Yale portfolio is to hedge against . Michael Episcope: No, we dont. . With a fund manager, if we have 20 properties in the fund, in order for us to make a performance fee at the end of the day, and the performance fee is what happens at the end when things go well we get a percentage of the profits. Michael Episcope: Yeah. Click the play button below to listen to my conversation with Michael. At AlterDomus, Garrett provided portfolio administration and cash management services for several credit fund portfolios. . 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. David earned his undergraduate degree from Harvard University and his MBA from the University of Chicago. Reputation Score: 2.59 - 3.76. She also likes to watch Netflix and going out to eat sushi. Well its a combination of renovating units, raising rents, tapping in some of the other ancillary revenues. This is anywhere from 20 to 25%. Take care. Its certainly not as easy today as it was a couple of years ago when the capital had so much more leverage. You shouldnt be comparing returns. Jonathans responsibilities include expanding the firms investor base and serving the needs of our Registered Investment Advisor and high-net individual investors. Michael Episcope: Yeah. 5 Michael Richards (Cosmo Kramer) - $45 Million Though he delighted audiences everywhere as Kramer in Seinfeld, Michael Richards has had a few hiccups in his career along the way that have affected him for years after they occurred. So even if youre reinvesting that capital, youre only reinvesting 75% of that profit rather than 100%. We have a real powerhouse on the show today. Theyre truly a trillion dollar funds these days; in the stock market, that is. Garrett moved to Chicago 2 years ago and lives in the Lakeview community. - 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." There are deals to be had but not as easy. Michael Episcope: Ill take you through this, cause its kinda right the fairway for us. Earlier in his career, he worked the Associate General Counsel and Assistant Secretary at APAC Customer Services. I went to DePaul University as an undergrad. Michael Episcope: Yeah. Ep #183 Grant Cardone Controls Over 4,000 Apartments Worth Over a Half a Billion Dollars. There is where she assisted in all real estate transactions including Residential, Commercial, and Real Estate Bank Owned properties. He is a go-to as it relates to individual investing from the likes of Forbes and Huffington Post, a frequent speaker on the circuit. Number 7: Kenneth Tuchman. Origin builds, buys and lends to class A multifamily real estate, in a tax and climate-friendly state. Kate joined Origin in 2021 after a tenure at Ventas, a S&P 500 company and a leading healthcare REIT. 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. Rod Khleif: Thats the key Michael, youve added tremendous value today. Risk management is one of the things we do well, and its also We talk about and we meet investors, its something we talk about incessantly, and something maybe we obsess about a little bit here; about what our growth rates gonna be? 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. Prior to joining the Origin team in November of 2021, she worked as a Real Estate Executive Assistant/Office Manager at Realty Of Chicago. Theyre fairly sophisticated but Id like you to break down why you like a fund versus individual syndications for specific properties. 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. Rod Khleif: Gives a diversification of risk, for sure. She also appeared in the romantic comedy How to Lose a Guy in 10 Days and in the Academy Award . Origin is not only when youre sitting there and youre a principal, and you have so much of your money invested. Jimmy serves as an accounting associate here at Origin Investments. 2017 BILLIONAIRES NET WORTH as of 3/20/17: $1.3 B. Tuchman's wealth is based on his gigs as . RELATED: 15 Times Seinfeld Was Hilariously Accurate About Life The decisions you make around the investments, you select the team you select and put around you as well. Michael Episcope: Yeah. Michael Episcope: Yeah. 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. 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. I think that the risk is exponential when you start managing other peoples money. It all is influenced by that notion of alignment, and where you sit. 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. 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 serves as Origin Investments in-house general counsel. 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