In this episode of the Peak Profits podcast, Bryan Morris interviews Nick Grazicki, a successful real estate broker who has sold over $130 million in real estate deals in South Florida. Nick shares his journey from aspiring dentist to real estate entrepreneur, detailing the challenges he faced and the strategies he employed to build a successful career in a competitive market. He emphasizes the importance of mentorship, networking, and the need to adapt to market changes. Nick also discusses his transition into investment syndication, highlighting the differences between brokerage and commercial property investment. In this conversation, Nicholas Grodzicki shares his journey in real estate investment, focusing on the lessons learned from his first deal, the importance of building trust with investors, and his shift from single-tenant to multi-tenant properties. He discusses the challenges faced in the market, particularly with family dollar store closures, and emphasizes the significance of buying right. Nicholas also explores new opportunities in debt and equity investments, highlighting his passion for real estate and the importance of continuous learning through books and mentorship.

Chapters

00:00
From Dentistry to Real Estate: A Journey Begins

05:53
Building a Network in a New Market

11:19
The Importance of Mentorship in Real Estate

17:25
Navigating Challenges and Seizing Opportunities

23:44
Scaling Up: Transitioning to Investment Syndication

32:02
Navigating Single Tenant Risks

39:15
Building Trust with Investors

44:26
Shifting Focus: From Single Tenant to Multi-Tenant

49:29
Exploring New Opportunities in Debt and Equity Investments

52:04
Book Recommendations and Personal Growth

Takeaways

• Nick transitioned from dentistry to entrepreneurship after discovering his passion for real estate.
• He reached out to successful real estate professionals on LinkedIn to learn about the industry.
• Building a network in a new market requires persistence and strategic outreach.
• Mentorship played a crucial role in Nick's early success in real estate.
• Nick's first year in real estate resulted in 18 listings and $8 million in sales.
• He learned the importance of paying it forward in mentorship relationships.
• Nick's success was driven by hard work and a willingness to take risks.
• The pandemic forced Nick to pivot his focus towards investment syndication.
• Nick's first syndication deal yielded a 30% return on investment.
• He aims to build a scalable real estate business through investment opportunities. Family Dollar's closure taught me the risks of single tenant investments.
• Building trust with investors is crucial for success.
• Buying right is essential to protect investments.
• Investors appreciated consistent monthly distributions.
• Management of single tenant properties can be less intensive.
• I shifted focus to multi-tenant properties for better returns.
• Debt fund investments offer quicker turnarounds for investors.
• Continuous learning through books is vital for growth.
• Networking and partnerships can lead to new opportunities.
• Real estate is a passion that drives my career.

Connect with Nick Grodzicki

🔍 LinkedIn

In this episode of the Peak Profits Podcast, Bryan Morris interviews Elijah Brown, founder of Goldhawk Capital. Elijah shares his journey from a college student interested in banking to a successful entrepreneur in multifamily real estate. He discusses the challenges and lessons learned from his early investments, the differences between investing in REITs and private placements, and the strategies behind Goldhawk Capital. The conversation also delves into underwriting principles, key metrics for investment decisions, and the importance of a comprehensive due diligence process. In this conversation, Elijah Brown from GoldHawk discusses the importance of transparency in investment, the challenges of capital raising in the current market, and the outlook for multifamily investments. He emphasizes the need for a comprehensive investment checklist and shares insights on geographic diversification in real estate. Brown also outlines the future direction of GoldHawk and offers valuable advice for new operators and capital raisers.

Chapters

00:00
Elijah Brown's Journey in Real Estate

03:01
Scaling from Single Family to Multifamily Investments

06:02
Lessons Learned from Early Deals

09:02
Transitioning from REITs to Private Investments

12:07
Understanding the Differences: REITs vs. Private Placements

15:02
The Birth and Strategy of Goldhawk Capital

18:06
Underwriting Principles and Deal Flow Management

20:50
Key Metrics for Investment Decisions

24:06
Creating a Comprehensive Due Diligence Questionnaire

25:30
Investment Checklist and Transparency

31:02
Challenges in Capital Raising

34:27
Market Outlook and Investment Opportunities

40:26
Geographic Diversification in Investments

44:58
Future of GoldHawk and Strategic Growth

46:30
Advice for New Operators and Capital Raisers

Takeaways

• Elijah transitioned from banking to real estate after realizing his passion for rental property investing.
• He started investing in single-family homes while in college with friends.
• Scaling from single-family to multifamily required partnerships and a focus on strengths.
• Lessons from early deals included the importance of thorough due diligence and managing expectations.
• Working at a REIT provided valuable experience but was different from his current investment strategy.
• Investing in REITs offers less control and different tax implications compared to private placements.
• Goldhawk Capital was formalized as a brand after Elijah's initial investments.
• Elijah's team now handles underwriting, allowing him to focus on strategic decisions.
• Key metrics for investment include operator experience, purchase price, and cash flow.
• A comprehensive due diligence questionnaire helps manage risk in investment decisions. Elijah created a comprehensive investment checklist with 230 questions.
• Transparency in data rooms is crucial for investor trust.
• 95% of investors rely on the manager's judgment rather than documents.
• Raising capital has become increasingly challenging post-COVID.
• Effective LinkedIn engagement can lead to capital raising success.
• Building a strong network of operators is essential for deal flow.
• The current market presents unique opportunities for multifamily investments.
• Geographic diversification allows for better investment strategies.
• GoldHawk aims to evolve into a boutique real estate investment bank.
• New operators should partner with experienced ones to build credibility.

Connect with Elijah Brown

🔍 LinkedIn

🌐 Website

📧 Email

In this episode, Ben Weiner from CoStar discusses the pivotal role of data in commercial real estate. He explains how CoStar supports clients through the entire deal lifecycle, from acquisition to asset management and disposition. The conversation highlights the importance of strategic planning, market analysis, and the diverse applications of CoStar's data for investors and operators. Real-world success stories illustrate the platform's effectiveness, showcasing how clients leverage CoStar to identify opportunities and make informed decisions in the competitive real estate market. In this engaging conversation, Ben Weiner shares his passion for building relationships in the real estate industry and the power of data analysis through CoStar. He discusses the joy of connecting with new people, the creative use of data for insights, and the underutilized features of CoStar that can enhance investment strategies. The conversation also touches on market trends, demographics, and how to effectively utilize CoStar for real estate investments. Ben emphasizes the importance of continuous learning and gratitude towards his clients for their role in his professional growth.

Chapters

00:00
Introduction to CoStar and Its Impact

04:20
Understanding CoStar's Role in the Deal Lifecycle

10:55
Strategic Planning and Market Analysis with CoStar

13:49
Custom Analytics and Use Cases for Investors

19:18
Real-World Success Stories and Client Experiences

23:52
Diverse Asset Classes and CoStar's Comprehensive Data

26:03
The Joy of Connection: Building Relationships in Business

28:36
Data-Driven Insights: The Power of CoStar

32:20
Unlocking CoStar: Underutilized Features and Tools

34:44
Strategic Deal-Making: Utilizing CoStar for Investments

42:42
Market Trends and Demographics: Understanding Growth Patterns

45:17
Connecting with Ben: How to Reach Out

Takeaways

• CoStar is the industry leader in commercial real estate data and analytics.
• The platform supports clients through every stage of the deal lifecycle: acquisition, management, and disposition.
• CoStar provides access to both on-market and off-market properties, enhancing strategic planning.
• The platform's extensive data allows for detailed market analysis and custom analytics.
• Clients can quickly access critical information, enabling faster decision-making.
• CoStar's mobile app empowers brokers to act swiftly in the field.
• The platform is essential for identifying equity partners and market share reports.
• CoStar tracks a wide range of asset classes, including multifamily, retail, and industrial.
• The data is verified regularly, ensuring accuracy and reliability.
• Unlimited training and support are available to help clients navigate the platform. I love meeting new people and understanding who they are.
• Using data creatively can lead to exciting insights.
• CoStar has features that go beyond leasing.
• The directory feature helps find the right brokers.
• Understanding market trends is crucial for investment success.
• Continuous learning is key in the real estate industry.
• Building relationships is essential for business growth.
• CoStar can track demographic changes over time.
• Networking can lead to unexpected opportunities.
• Gratitude towards clients fosters professional development.

Connect with Ben Weiner

🔍 LinkedIn

🌐 Website