Real Estate Addicts

In this episode we are joined by Josh Brandt, co-found of Stack + Co. and discus how Stack + Co has grown to becoming a best in class Design Build Firm in New England. Josh walks us through the founding of the company through growing the business to the $20mm per year mark. We also discus Josh's first foray leveraging his design/construction background into real estate development. The conversation was interesting and engaging throughout. We hope you get a chance to listen and please e-mail us with your feedback to TheRealEstateAddicts@gmail.com

Mike Costello has served as Director of Recruiting and Talent Acquisition for major companies like Suffolk Construction and American Tower where he currently leads corporate recruiting efforts and is responsible for overseeing 300-400 new hires per year! We discuss tips and tricks for recruiters and job candidates alike so they can make the best hires and career decisions. Some of the highlights of our conversation include; how to formally structure an interview, how to ask behavior and situational based questions as well as the best strategies to answer them. We hope you enjoy the Podcast and please e-mail us with your feedback or questions to TheRealEstateAddicts@gmail.com

Had a lot of fun recording this episode with the hosts of the Cash Flow Kings out of Providence, RI. In this episode we compare the Providence, RI and Boston, MA markets. We compare and contrast buying strategies and compare notes on the challenges and opportunities inherent in each.

Patrick Mahoney of Boston Zoning Strategies offers REA listeners a diversity of experience as a zoning attorney, local developer and former building official. We begin by clarifying and explaining the nuances of some commonly misunderstood zoning terms such as building height, number of stories & FAR. We discus the difference between a story and a “mezzanine”, how to measure grade if the property is built on a hill & when a basement contributes as a “story” on a building? We also dive into the notion of “grandfather status” and when a non-conforming feature can actually be considered “exiting to remain” (hint: statue of limitations).

In this episode we are delighted to be joined by Bruce Percelay, founder and Chairman of the The Mount Vernon Company. Bruce brings us through his career starting in the mailroom of an advertising company to founding a real estate investment firm considered among the leading apartment landlords in Massachusetts. The company has grown over the past 30 years to include approximately 1,600 apartments, 5 hotels, as well as select commercial and vacation properties. This was one of our favorite episodes and truly one you don’t want to miss! We’d love to hear your feedback! Please e-mail us at therealestateaddicts@gmail.com!

REA is joined by Michael DiMella & P.T. Vineburgh, co-founders of Charlesgate Realty Group to discuss how they’ve organically built an incredibly successful boutique real estate brokerage firm which specializes in the marketing of new construction for multi-unit residential. The guys share how they’ve persevered in an industry where large national brands seem to be eating up more and more market share. We candidly discus topics like off market “pocket” listings, Realtors who pay to be featured in “Who’s Who” publications and whether print ads really work or if they just make sellers feel special? What does it mean to be a “closer” and should they be remanded to used car dealerships? Finally, we discus the innovative strategies Charlesgate has pioneered in selling new construction. Enjoy the episode and thanks for your reviews on iTunes and for sharing!

Anne Amagrande, founder of Grande AMA & Associates LLC has created a system of acquiring single family homes in blue-collar neighborhoods in AZ & TX by re-positioning them and executing a planned exit using a “lease option” often targeted to buyers who may have more difficult time qualifying for a conventional purchase. Anne’s system and her private equity firm provides investors with cash flow, equity growth and preferable tax treatments. We discuss the nuances of “lease to own” and some of the regulatory pitfalls, how Anne has successfully scaled this business, what improvements Anne prioritizes in a “Rentovation” as well as Anne’s preferred investment structure for investors. E-mail us your feedback at TheRealEstateAddicts@gmail.com

In this episode, The Real Estate Addicts throw it back to their roots as they are joined by Professor Jonathan Keefe of the BU Program for Real Estate Studies. REA co-host, Marc Savatsky met Jonathan in 2011 when he began exploring a career transition from construction to real estate development and enrolled in Jonathan’s evening course, Fundamentals of Investment Analysis. Aside from helping to run the BU program, Jonathan is also the Managing Director of Strategic Services at Cushman and Wakefield where he provides a unique blend of executive and consulting experience to help clients optimize their real estate organization, strategies, portfolios, transactions, projects, and operations. In our conversation, we revisit some of the same the same analytical techniques covered in Jonathan’s course which each aim to help developers make effective decisions about the acquisition, development, financing, and disposition of investment properties. Topics discussed include: Time value of money; aftertax discoun

Aaron Galvin, Founder & CEO of Luxury Living Chicago Realty (LLCR) joins the Pod to discuss how LLCR is transforming the way luxury apartments are being leased. Aaron works closely with the nation’s top development firms consulting on everything from apartment pricing to finishes to amenity programming. Galvin oversees a pipeline of exclusively listed multifamily developments including new Class-A lease-ups, ongoing leasing, and condo deconversions. He manages a team of Realtors responsible for over $500 million in rental volume and over $100 million in sales volume in downtown Chicago. Our conversation was wide ranging and interesting throughout touching on topics including: Macro trends favoring renting and why a once perceived stigma is quickly disappearing Implementing an ideal marketing program consisting of an awareness phase, nurturing campaigns, & pre-launch phase What is a VIP launch strategy and how has LLCR has used this in part to pre-lease at least 25% of a building before it opens Pri

We had the pleasure to chat with Bryan Lee, one of the three founding principles at Transom Real Estate on his career in real estate development. Bryan and his partners each hail from Related Beal where they gained experience working on a variety of large-scale projects in various sectors of development. The very first project Transom took on was 212 Stuart St., a major undertaking consisting of 126 residential, 19 stories and 146,0000-square-foot ground-out development in Bay Village, one of Boston’s most desirable neighborhoods. We discus construction pricing, compare the pros and cons of developing apartments versus condos, how Transom filters opportunities, the merits of debt brokerage, how Transom uses opportunity funds to finance their deals, what makes for good design and why Bryan and his partners are firm believers in spending on design to distinguish their projects. We had a ton of fun recording this episode and hope you will enjoy it too! Thanks for your reviews on iTunes, your feedback and as

Anthony Fava of Sun Property Group joins the guys to share his path from practicing Civil Engineer to Developer and co-owner of Sun Property Group. Anthony discusses how he and his business partner, Ryan Hunt have built a diversified real estate business which specializes in real estate sales, property management, construction and development. We talk in particular about how Anthony manages his construction staff and has grown his company in terms of its systems and procedures and where they hope to go next.

We had the pleasure of chatting with Devon Wegman, founder of Devon Grace Interiors about how her work as an interior designer interplays with real estate development. We discussed the latest trends in interior design, debated where the best places to spend design dollars are, weather you can find acceptable finishes at big box stores like home depot and how to vet out an interior designer before you hire them. Are subway tiles played out? Should you panel your appliances? Give this episode a listen before you pick finish specifications for you next project!

In this episode of REA Willie Mandrell of the Mandrell Companies explains how he started investing in real estate with a small loan from a cousin and built a rental portfolio of over 25 properties! In the time since, he’s also built a successful real estate brokerage and has continued to grow into development. Willie touches on rehab costs, property management, and buying section 8 / low-income rental housing. We had a ton of fun recording this episode & we hope you enjoy it too!

In this episode Marc, Dan & Ray get some things off their chest and implore “the community” to insist on zoning contingencies. They discus the mechanics of a zoning contingency and then walk listeners step-by-step with #’s through a recent Choose Boston deal that was permitted and flipped

Ted Tye, Managing Partner & Co-Founder at National Development joins REA for a wide ranging discussion on what it takes to become a successful developer and how he’s helped to build National Development into one of the most respected development firms in New England. Ted brings us back to the firms first deal in 1983 and tells us how he got started in the industry. He shares his outlook on the market, tips on building a resilient business in a cyclical industry and offers his best advice for those looking to get into real estate development. This episode is a must listen!

#19 Michael Procopio, VP Development at the Procopio Companies on Developing in Gateway Cities by Marc Savatsky, Ray Hurteau, Dan Rubin

The Real Estate Addicts are joined by Attorney Nick Nardone, Partner at Touchstone Closing for an in-depth conversation about the myriad of important legal considerations a developer should be mindful of. We cover topics ranging from: •Title – Do you need title insurance and is there a way to buy it more inexpensively? • Understanding the process for condominium conversion. What is a master deed? • Condominium disputes and what is a Condominium Super-Lien? • Co-Op versus Condos and why does Marc HATE Co-Ops • Advice on buying a building with tenants? • What are notification requirements prior to converting to condos? • Why chasing foreclosure sales is often a waste of time. • What special considerations go into buying a property via an estate sale? Does it have to be advertised on MLS?

Ross Trethewey, founder and lead engineer for TE2 Engineering and Home Technology Expert on “This Old House” joins REA to talk mechanical engineering and smart home tech. We begin with a discussion on sustainability and identify the easiest and most effective ways to make your buildings more cost efficient to run and environmentally friendly to operate. Next, we dive into a discussion on basic options with regard to home heating and cooling systems from gas fired furnaces, to “combi units”, electric heat pumps and VRF units and how they each compare with regard to upfront installation costs and operational costs. From there we jump into a discussion on the best smart home features. Other topics covered include: Why is the temperature on a thermostat alone often a poor indicator of comfort? Why are so few people satisfied with the thermal comfort in their home? What is indoor air-quality? Why is it critical for buildings need to “breath”? How can I measure indoor air quality in my home? What are the

Michael Olson, Managing Principal at Rhino Capital Advisors LLC joins hosts Dan, Ray & Marc to talk about developing office product and the unique features of that sector. Mike explains how he got started in real estate and how Rhino Capital sources their deals from. Mike tries to avoid heavily marketed deals and tells us that most of his deals start with a simple question, “Would you have any interest in selling?” Mike explains one of Rhinos core principals which is ensuring that the real estate meets the business needs of the users, rather than the other way around. We go over some common commercial real estate acronyms, discus typical lease terms, tenant-fit outs and we compare the metro office market to suburban market. Finally, Mike talks about the pros and cons of starting a fund and what it takes to attract institutional capital.

Brian Gregory is a talented architect who specializes in Urban Planning and practices at Gamble Associates. His firm was recently engaged by the BPDA and the City of Boston to help spearhead the City’s new masterplanning effort, PLAN: East Boston. The conversation was wide ranging and interesting throughout. Topics covered include: Why is Boston’s City Hall so ugly? What does an urban planner do? Why are triple deckers are so prevalent in Boston? What is form based code? What does performing a re-zoning and new master plan entail? Does more parking encourage more cars? What are Maisonettes and how do they support street level activation? What happened to Wall St. when plannners loosens the zoning reigns? Was the development of Bostons Seaport a missed opportunity for urban planners? Is Air BNB good for cities?