Three things for you this week:

1. Starting My Search for 2025 Investment Opportunities
   ​With the new administration in office and the investing landscape beginning to take shape, I'm launching my journey to uncover the most promising deals and share the top three criteria I look for.
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2. Episode 1, Season 7: The Allocator, a new way to finance CRE​
   Tune in to my YouTube/Podcast show as I speak with the founder of a central platform in this emerging industry and learn what it means for investors and sponsors alike.
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3. Exclusive Access to My Book​
   ​Eat a Frog for Breakfast compiles lessons from interviews with 30+ CRE leaders. They share the hardest lessons they've learned and actionable advice for investors navigating the market.

Plus, this year, I’m launching three initiatives:

• Investors: ​
  ​Follow my investing journey, sign up here to stay updated.​
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• Sponsors:
  Learn the strategies we use to help private clients raise capital in my upcoming Investor Acquisition Mastermind.
  ​Join the waitlist here.​
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• LinkedIn Mastermind: ​
  Discover how to leverage LinkedIn, the most effective platform for networking and scaling in real estate.
  ​Join the waitlist for that, here.​

As always, please do not hesitate to email me directly if you have any questions.
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Best,
Adam

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Starting My Search for 2025 Investment Opportunities​
​3 Factors I Look for When Investing in CRE

Now that the new administration is in office, it’s time to closely monitor the rollout of new policies and adapt accordingly to capitalize on what is likely to be a favorable climate for real estate investing - at least in the short term.

Throughout my career, I’ve developed some valuable principles about real estate investing, and as I plan my personal investments for 2025, I’ll be applying those as I shape my own strategy.

Here are three of the guiding principles:

1. Strong sponsor experience. I look for 'pedigreed' sponsors to invest with. This terms refers to having a multi-cycle track record, how they align their interests with their investors, clear, transparent communications, effective risk management i.e. underwriting to worst case scenarios and multiple exit strategies, and being 'known' and well spoken of by their peers.
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2. Debt is a killer. Joel Friedland at Brit Properties in Chicago talks about how he learned the hard way about taking on too much debt and who, today, invests in class B and C industrial buildings with no debt. As I look at deals, I'm going to be looking for those with low debt (though maybe not zero) that is carefully underwritten to worst case scenarios. Put another way; deals that can survive downturns as bad as any we've seen before - even at the expense of outsized IRRs, the most manipulable of all real estate metrics.
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3. Path of progress. Look for locations in the 'path of progress,' a term I first heard articulated in conversations with Paul Daneshrad CEO at Starpoint Properties. The concept is to identify areas growing as employment and population centers, driven by outsized macro-economic factors. These include sizeable metropolitan areas with rising populations and household formations, a robust, diversified and growing job market in resilient industries (e.g. healthcare, tech), and a competitive cost of living.

​Join me in my journey to find more syndications to invest in, here.​

Podcast/YouTube Show:
​The Allocator: A New Way to Invest in Real Estate

Guest: Badri Malynur, co-Founder, Avestor

In the first episode of Season 7, Badri Malynur shares how the platform he co-founded, Avestor, reshapes real estate capital formation by providing a new way to create and manage funds.

What is an Allocator?

An allocator negotiates preferential terms (e.g., higher preferred returns or better promote splits) with a sponsor by committing significant investment. They pool funds from individual investors to meet thresholds, either sharing the preferential terms or keeping the difference as compensation.

How Avestor Stands Out

Unlike platforms like Juniper Square or IMS that focus on document management, Avestor integrates these functions with a customizable fund model. It lets sponsors and allocators pool offerings from multiple sponsors, allowing investors to allocate their capital across various deals within one fund.

Simplifying Fund Management

Avestor streamlines fund creation with a single Private Placement Memorandum (PPM) covering all deals and consolidated year-end K1s. This reduces legal fees and administrative work, benefiting sponsors, allocators, and investors.

Comprehensive Resources

Avestor also provides legal templates, accounting support, marketing partnerships, educational tools, and mastermind groups - offering a full suite of resources for their 'fund managers'.
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Quote:

"We go to different sponsors in all the top-tier categories... and we negotiate on behalf of several hundred capital allocators to get preferred terms for our Avestor fund managers."

Badri Malynur, co-Founder, Avestor

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​Link to the full episode here >>​

​​If this is your first time seeing this newsletter, please click here to subscribe.​

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