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Ep 63 - Multifamily and Industrial Real Estate: Strategic Investments with Jarred Elmar
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We’re back with another exciting episode that you surely won’t want to miss! This week, we had the honor of hosting Jarred Elmar, CEO and President of The Geneva Group, for the third time. Jarred, with his sharp insights and unbeatable experience, shared a treasure trove of knowledge about the current market conditions for office spaces, industrial properties, and so much more. Trust me, you’ll want to grab a notebook for this one!
Here are 5 key takeaways from this episode that you won't want to miss:
- Office Market Challenges: Discover why 75% of office buildings are considered obsolete and what this means for future investments.
- Banking Woes: Learn how banks are dealing with low occupancy rates and bad loans, using a real example of a struggling building in Orlando.
- Remote Work Dynamics: Jared delves into the pros and cons of remote work versus traditional office spaces and what this could mean for productivity.
- Industrial Success Stories: Hear about Jared’s thriving ventures in industrial warehouses and what makes these deals tick, especially his joint venture in Jacksonville.
- Dealing with Tenant Diversity: Find out how Jared manages a diverse tenant base, from big names like Boeing to local businesses like Johnny's Automotive.
Episode Highlights:
00:00 Jared Elmar returns; discusses multifamily industry reentry.
04:50 Syndicators shut distributions off due to financial challenges.
09:04 Flipper or hold strategy for syndicators' success?
10:00 Fund model suits high-volume fee-based business better.
15:23 Unwilling to invest in average deals, difficult training.
18:54 Self-managed initially to understand and scale efficiently.
22:09 Social media crucial for effective property investments.
25:55 When will economic pain from extend end?
29:46 Four joint ventures with different structures, outcomes.
32:35 Anchor tenant buying own building saves deal.
34:30 Reunderwriting increased return from 16% to 20%.
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