We dont have any acquisition fees in our fund. 11. As of 2021, Michael B. Jordan's net worth is estimated to be around $25 million. I can give you a couple of examples if you want. Phil loves to travel, participate in sports leagues and cheer on the Cincinnati Reds and Bengals. Click the play button above to listen to our conversation with Michael. But we talked about the buy-fix-sell, thats more of a buy-fix-hold and sell in about four years. Then in April 2016, she joined the Origin family. Those of you that are doing your own syndications, do not short-circuit that process. 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. Net worth: $150 million. He currently resides in the Lincoln Park neighborhood of Chicago and in his spare time enjoys golfing, skiing, and spending time at the lake in the summer. Wedge Brands, an outdoor industry holdings company, got $1M from a group . The value of continuing education Can we actually improve it and get what we think? But were excited about the asset so were actually putting that under longer term financing. It feels like yesterday that See, its very different. And sometimes, the worst that can happen is that you make a bad decision but have a good outcome. What I learned through that experience was that A couple of things, number one, real estate, especially in the private market sometimes is not so friendly for the individual investor. It wasnt rent raise, it was just your Yeah. I could barely get my head through a door cause I thought I was a real estate god and you know. Tom currently resides in Denver with his wife and children, is a cyclist, skier and loves to travel. 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. Check out this great listen on Audible.com. In bibendum elit libero, at sollicitudin purus placerat ac. With Michael's leadership, Origin has more than $1.3 billion in equity under management . 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. Prior to Lightstone, he performed as a trusted advisor to the HSBC Amanah Global Properties Income Fund ("GPIF"). Webinar today at 11AM CT: Join Origin Co-CEO Michael Episcope and Managing Director of Acquisitions Dave Welk for our IncomePlus Fund webinar. She lives with her husband and son in Hinsdale. Youre pretty much locked in to that structure. 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. They had never been touched since the early 80s. By the time the partners closed a $151 million fund raised from 450 investors last June, they'd transformed the company into something different: a real estate private equity fund that uses crowdfunding-like tactics to raise money from family offices and high-net-worth individuals. How to Achieve Massive Success in Business & in Life, How to Recover From Any Failure or Setback, How to Create Any Level of Success you Want, The Lifetime CashFlow Through Real Estate Podcast, By providing your number, you consent to receive marketing call or texts. He currently resides in the Lincoln Park neighborhood of Chicago and enjoys traveling, cooking, and spending time with family & friends. Prior to joining Origin Investments, Justin was a Client Service Administrator for Strategic Wealth Partners, a private wealth advisory servicing high-net-worth individuals located in Deerfield, IL. Operationally, weve increased revenues about 50%. 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. Id love to get your insights and your thoughts on Obviously, real estate goes though cycles. Kate joined Origin in 2021 after a tenure at Ventas, a S&P 500 company and a leading healthcare REIT. Jennifer serves as Office Manager and Executive Assistant to the Co-CEOs Michael and David. Thats a brilliant strategy, Michael. I started hearing things through my friend, and some of the projects that he was involved. Join Origin Principal Michael Episcope and Dr. James M. Dahle, M.D., editor, author, and owner of White Coat Investor, on May 20th at. She. He's a great guy based in Chicago who started this company in 2007 after quite a successful year as a trader. David Scherer formed Origin Investments in 2007, along with co-founder Michael Episcope. I know you do multifamily and office but obviously our focus is multifamily, but talk about how you get going. Origin builds, buys, and lends to class A multifamily real estate in tax and . Chris is responsible for the development oversight, lease-up execution, and operational and financial performance of the firms multifamily properties across Nashville and the state of Texas. He earned an MBA with a concentration in Real Estate Finance & Investment from DePaul University and Bachelor of Science with a degree in Finance from The University of Central Florida. Im not If everything wouldnt have gone well and I wouldnt have lost money because of the crisis thats under, you know Okay, the big [bad audio]. - 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." - Michael Episcope - If fund for, look for changes coming up in that strategy, and more of a hybrid evergreen to buy-fix-sell to more of a buy-fix-hold. 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. Of that 16 years, I traded for about 10 years. Cause you touched on it with me offline, Id like my listeners to hear that. Michael Episcope: Yeah. Here's a quick recap of the top 30 richest athletes in the world in 2022: Michael Jordan; Vince McMahon; Ion . 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. 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. It peaked at #3 on The New York Times Best Seller list. Michael Jordan's net worth is $2.2 billion. His primary profession as a comedian has allowed him to amass enormous wealth. . Everybody knows my $50 million seminar in 08, and Ive been through other cycles as well that were equally impactful, negatively impactful. Katina is a Senior Associate on the Investor Relations team. In his free time, Dan enjoys exploring the many bars and restaurants in Chicago. They will discuss Origin's first closed deal in. 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. Retooled from that sense and that was a great experience. Michael Episcope: When an investor commits to a fund, they start paying fees on their entire commitment on the day they commit. 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. Thats not what happened here; what happened here was that he was an individual syndicator without a lot of money of his own. Prior to joining Origin, Spencer began his career as an Analyst at Blue Vista Capital Management. Since moving here in 2003, He has taken the opportunity to enjoy a wide variety of food and activities that the city has to offer. We can borrow from one asset to fix another and shore up. Jimmy is responsible for managing and coding employee expense reimbursements, vendor invoices, preparing corresponding ACHs and tracking monthly timesheets of team members for allocation to various Origin funds. Marc holds a Bachelor of Science in Business from the Kelley School of Business at Indiana University. Within her years of real estate Executive assistant experience, she helped maintain communication with all parties. We know that. Michael Episcope Principal at Origin Investments Published Aug 17, 2017 + Follow This article was . He was responsible for evaluating, analyzing, and reconciling mutual funds, separately managed funds, and Real Estate funds to determine the Net Asset Value daily and to produce client month-end reports. Michael Episcope: Yeah. 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. 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. I always look at the decision that was madewhy did you get into the deal? . She currently resides in Evansville, Indiana USA. She is an analytical, creative and strategic thinker who views marketing as the psychology of business. Cause this is, its a little new to me. Bills design practice emerged out of a fine arts background. Michael Episcope: I used to spend my summers with him, and I really. Prior to Origin Investments, he completed the Risk Management Leadership Program at GE Capital. Rod Khleif: Its the most important parameters. Give us some examples. 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. 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. He was formally trained as a multi-disciplinary artist with an emphasis on conceptual thinking at the School of the Museum of Fine Arts, Boston. Before Equity Office Properties, Tom worked as a commercial credit analyst at JP Morgan Chase. While at Ventas she led the transformation and scaling of FP&A, corporate risk, legal, accounting, treasury, and property management functions. 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, . He facilitated multiple events for Be The Match, a nonprofit organization founded to fight leukemia and other blood-related diseases. Michael has an estimated net worth of $65 million, according to Celebrity Net Worth. Why is the asset underperforming? I mentioned earlier in the podcast, I had done some passive investing even prior to Origin. Regina joined the firm in late 2021 as an Accounting Associate. Gina graduated from DePaul University with a Bachelor of Science in Business with a major in Hospitality Leadership. Edsel's net worth hovers over $100,000 - $249,999 with a yearly income that's . Michael is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. Rod Khleif: Let me ask you this, you find an A-minus asset, or a B-plus asset, its not like the heavy reposition that you would do on a C-asset where youre going in and completely redoing the interior and all that. He has more than 30 years of investment and risk management experience and has been an integral contributor to Origins innovative practices and investment success. 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: I mean a lot of people, Im probably guilty of it as well, but a lot of people correlate, because they have money, they know more than the other person. If we make $100,000 commitment to fund, we dont take it all upfront because we dont have a portfolio of assets. It was the right thing to do at the time. Origin is not only when youre sitting there and youre a principal, and you have so much of your money invested. My experience in real estate actually extends back to kinda when I was 11, 12, 13, working for my grandfather in the summers. Prior to joining Origin, Vince worked at Duff & Phelps where he conducted business enterprise and intellectual property valuations for use in the corporate acquisition process. Its the decision making that matters. On-going then its 1.5% on the fund on an annual basis. He put on a new roof. As a fund manager, we look at it more as a portfolio. Theres no financing available. Katina graduated from Texas Christian University with a Bachelor of Science in Economics in 2018. Tijana received a Bachelor of Arts in Data Science and Global Business from Mount Holyoke College and is a licensed sales Broker in Illinois. Daniel is responsible for fund level accounting and monthly reconciliations across all funds. Thats very different if youre buying 20 individual deals. During his education at DePaul University, he served as Treasurer and President of his fraternal organization. Jacob is responsible for underwriting prospective commercial real estate investments across all property types and target markets. He has been a Vistage member for more than six years and lives in Chicago with his wife and three children. 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. 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. Heres some of what you will learn: He loves cheering on the Wisconsin Badgers and is passionate about all things automotive. It was in the late 90s, early 2000s that I began passive investing. Founded in 2007 by David Scherer and Michael Episcope, Origin is a leading manager. Prior to joining PRG, she served as Financial Analyst for DBRS, a credit rating agency for commercial mortgage-backed securities, from 2015-2017. And so you have even[overlap talk]. In this role she led cross-functional project teams responsible for reorganization of legacy business functions within the firm. We both had a lot of good friends; high net worth. But what well do is well forego cash flow in the first two years. Interesting. Prior to joining the Origin team in late 2021, she worked as a Real Estate Paralegal at the Segel Law Group, Inc. Its really Its everything we look for but its a good quality asset. +1-941-225-8477. 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. Well its a combination of renovating units, raising rents, tapping in some of the other ancillary revenues. Rod Khleif: Sure. He is an accomplished French horn player, contemporary art collector and competitive recreational cyclist. Rod Khleif: Awesome. . Michael is a urologist, while his mom, Isabella, is an anesthesiologist. Theres nuances behind here but what it comes down to is this notion of alignment. I believe that value add is a way to protect yourself from future downturns. What does this mean for the high net worth individual (HNWI) trying to create wealth? Prior to joining Origin, Barbara was the managing editor of HOTELS, a Chicago-based publication covering the global hotel business. Michael earned his undergraduate and masters degrees from DePaul University. We have a real powerhouse on the show today. Before his current role, he served as an acquisitions senior associate, overseeing the underwriting and due diligence of all deals being pursued, where he closed in excess of $500 million of multifamily and office assets. My first career was in commodities trading. Thats a big clue guys. Its a different way of getting to the same place. Jonathan is an Assistant Vice President of Investor Relations at Origin Investments where he is responsible for fundraising and business development activities associated with the firms Private Real Estate offerings. He is co-CEO, co-chairs the investment committee and oversees investor relations and capital raising. Jennifer went to Bradley University in Peoria, IL. . That trend is . Reputation Score: 2.59 - 3.76. Students Get $20 Off $100+ Worth of Orders . 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]. Within her 5+ years of real estate paralegal experience, she assisted in maintaining communication with all parties involved within the transaction, contract negotiations, draft closing documents, clear title, prepare leases, complete any municipality and obtain necessary permits. 228 Michael Episcope, Principal & Co-Founder, Origin Investments This is actually my second career. Between my freshman and sophomore year, I got a job on the floor of the Chicago Mercantile Exchange, and decided I loved it, and that was the start of a 16-year career there. Horacio spoke with Michael Episcope, the co-CEO at Origin Investments. If you try to be a generalist, frankly in any business In fact, I just preached about this in my live event, How to Think and Grow Rich Napoleon Hill said, The key to success is specialized knowledge. You have to be a specialist. We do [overlap talk]. Taking the leap into entrepreneurship, Taylor started a company that provided replacement cars to people who had suffered stolen or damaged vehicles. [chuckles]. I dont really think about this, right? Check BackgroundGet Contact InfoThis Is Me - Edit Court & Arrest Records View All This section can be locked, requiring permission to view. Michael Episcope: Yeah. David earned his undergraduate degree from Harvard University and his MBA from the University of Chicago. What markets are growing? Parking revenue was a big one there Just fixing everything that weve identified from day one. She is an avid reader, traveler and concert-goer. . He also assembles . The investments been going very well on that side. Michael Episcope: No, but I have it on my desk, my partner [overlap talk]. Cody currently resides in River North and enjoys playing golf and cheering on the Michigan State Spartans. . Edelisa Episcope. 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. 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. She enjoys creating bold, minimal styles by focusing her layout skills using typography and grids. Any investments will only be made with proper disclosure and subscription documentation, and subject to all applicable laws. In many ways, we found a deal that really spoke for itself, and we gave it a way, and it was a great market [overlap talk]. Actress best known for her role as Dr. Cleo Finch on TV's ER. Maybe youre putting in washers and dryers. At Evolve, he led the strategy, execution, and analysis of multi-channel, lead-generating campaigns for more than 30 clients across specialties. If youve enjoyed the show, please take a minute to visit iTunes and leave your comments. In fact, he became the first billionaire player in NBA history when his net worth crossed the billion-dollar mark in 2014. Tijana also has experience as a residential sales broker where she was able to help several first-time homebuyers and investors. Michael Episcope: Thats a little bit on the equity amount. Michael Episcope: Yeah. 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. He is a lifelong resident of Chicago and lives with his dog in Chicagos Pilsen neighborhood. Im glad you asked that too because in this business you learn a lot more from the deals that go wrong and the mistakes. Michael Episcope cofounded Origin Capital to create access to real estate investments and management expertise that were previously only available to institutions. Any investment opportunities mentioned on this podcast are limited to accredited investors. It was in 2007 that my partner and I got together, and we decided, and kinda came to the same conclusion that we can do this better with our own capital. 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. In her role as part of the Trustee department, she provided cash reconciliation and portfolio services on a variety of corporate debt securities for clients. Got it. The markets are a little bit frothier today. Michael Jordan is still, quite possibly,. Rod Khleif: You have to be continually learning. 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. Before his current role, he served as Vice President of Asset Management for Origin Investments, overseeing the firms portfolio assets. 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. Fund will charge committed capital fees. 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. Aaron is responsible for driving performance in the companys multifamily portfolio. 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. If 10 do well and 10 dont do well, youre paying a performance fee on the 10 that do well in that structure because your performance fees arent cross-collateralized at the fund level. Michael Episcope is a Principal at Origin Investments based in Chicago, Illinois. In her free time, she enjoys cooking, traveling, and playing tennis. Michael Episcope: You know where the value [overlap talk]. We talked a little bit about the fee structure, and the importance of that. Michael Episcope: Were in Chicago, Denver, Dallas, Austin, Houston, and then Charlotte, Raleigh, and Atlanta. The HVC all those things. Number 7: Kenneth Tuchman. Michael Episcope: On a syndicator deal, what they will do is that they dont charge on committed capital, they charge on acquisition fee because for every deal that they do end up finding, theres probably 20 deals that they didnt find that they had to pay their expenses. Although I will say that going into fund for, one, a thing we always do is from for each fund, were sort of iterating. Very interesting. . 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. As you know, Rod, population centers, job growth, population growth, thats where you wanna position yourself. a healthy allocation to alternatives in an ultra-high net worth investor portfolio is attractive, because you get basically higher risk-adjusted returns when you go . In his free time, he enjoys spending time at the lakefront, trying new foods, and traveling. Real estate's role in the Yale portfolio is to hedge against . 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. Prior to Origin, Daniel worked as an auditor at Grant Thornton, working on clients in the auto and medical manufacturing field space. He worked closely with the Acquisitions team to build the foundation of Origin Multilytics. It was a phenomenal time, a great experience. In 2018 he graduated from Marquette University with a degree in Commercial Real Estate. Michael received a Bachelor of Arts degree from Depaul University. Yeah, and it was our second asset in Naperville. Ken joined Origin in 2018 as an Associate on the Investment Management team. Michael Episcope: Yeah. Rod Khleif: What other fees? Steve graduated from the University of Iowa in 2020, where he studied Business Administration, Economics, and International Relations. Michael is co-CEO of Origin Investments, co-chairs the Investment Committee, and oversees investor relations, marketing and company operations. We actually just acquired an asset. 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. Its certainly not as easy today as it was a couple of years ago when the capital had so much more leverage. I dont remember why I did this or what happened, but I started doing some internet research. Vince joined Origin in 2017 and he leads Origins fundraising and investor relations department. So thats been great. Bill received his BFA from the School of the Museum of Fine Arts, Boston in partnership with Tufts University (SMFA at Tufts). Ken began his career in commercial lending as a credit analyst for MB Financial Bank in Chicago. 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. Im very grateful for your valuable time on the show. Appreciate you having me on today. Michael Episcope: And I will tell you, Rod that is the common theme. Prior to joining the Origin team, Phil began his career as a development associate for General Growth Properties. We got this thing for a song. Awesome. Id be happy to. In preparation for the Jan. 31 date, Origin Managing Directors of Liked by. Regina received her Bachelors in Accounting from the University of Illinois at Chicago. 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. It has a ton. Michael Episcope: I think thats where a lot of people make the mistake, its looking at, and comparing returns to one another. episcope: [noun] a projector for images of opaque objects (such as photographs). Because sounds to me like that might be an asset that youd wanna keep, if it werent in that scenario. Michael Episcope: Yeah. Michael Episcope Co-CEO Connect 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. , tom worked as a residential sales Broker in Illinois to get your insights and your thoughts on Obviously real... Economics in 2018 he graduated from Marquette University with a degree in commercial real estate Investments across funds..., traveler and concert-goer build the foundation of Origin Investments this is actually my second.. Led the strategy, execution, and International relations lot of money of his fraternal organization he cheering! Actress Best known for her role as Dr. Cleo Finch on TV #..., he served as Vice President of asset Management for Origin Investments based in Chicago with his wife children! Population growth, thats more of a fine Arts background and sell in about four.. Fees in our fund enjoyed the show began his career as an Associate on Wisconsin... Homebuyers and investors Economics, and the importance of that 16 years, I for. Taking the leap into entrepreneurship, Taylor started a company that provided replacement cars people. I did this or what happened here was that he was an individual without... Studied Business Administration, Economics, and traveling, but I have on. ; high net worth is $ 2.2 billion 1.5 % on the investor relations, marketing and company operations to... And loves to travel licensed sales Broker in Illinois date, Origin Investments based in Chicago degrees. 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And subscription documentation, and the importance of that well do is well forego cash flow in the podcast I... Build the foundation of Origin Investments, overseeing the firms portfolio assets more from the School., Dave spent six years at Deutsche Banks Global commercial real estate Executive to... Here but what it comes down to is this notion of alignment well forego cash flow the. Youve enjoyed the show today at Indiana University dont remember why I did or. Putting that under longer term financing to spend my summers with him, and was... Its 1.5 % on the day they commit, at sollicitudin purus placerat ac leading REIT... Ventas, a great experience, cooking, and it was a experience! Passive investing to protect yourself from future downturns thoughts on Obviously, real estate firm founded in 2007,... She led cross-functional project teams responsible for reorganization of legacy Business functions within the firm equity estate! 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