JF3540: Converting Commercial to Residential, Adapting to Change, and Why Fixed Rate Debt is Key ft. Nick Stageberg

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7 • 996 Ratings

🗓️ 14 May 2024

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nick Stageberg, founder of Black Swan Real Estate, manages $330 million in assets, focusing on value-add repositions. Their GPLP model splits profits 50-50, with LPs getting their capital back first. He advises starting small, scaling up, and adapting quickly. Nick Stageberg | Real Estate Background Black Swan Real Estate Portfolio: 1400 units, both single family and large multifamily, $330 AUM Based in: Rochester MN and Tacoma WA Say hi to him at: meetblackswan.com thestagebergs.com https://www.facebook.com/blackswanrealestateteam https://www.facebook.com/groups/realestateatscale https://www.instagram.com/blackswanliving/ Best Ever Book: Principles by Ray Dalio Sponsors: SyndicationAttorneys Baselane InvestHER Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Quick disclaimer the views and opinions expressed in this podcast are provided for
0:04.2	informational purposes only and should not be construed as an offer to buy or
0:08.3	sell any securities or to make or consider any investment or course of action.
0:13.7	For more information go to best ever show.com.
0:17.0	If you do what everyone else does, you get what everyone else got.
0:20.0	And you have to find the unique advantage that you have in any deal that another prospective buyer isn't willing to commit to.
0:26.7	Welcome to the best ever show, the world's longest running daily commercial real estate podcast.
0:32.1	Our hosts Interview Commercial Real Estate Podcast. Our hosts interview commercial real estate experts every day to get you the best advice ever with none of the fluffy stuff.
0:39.0	Best of our listeners.
0:40.0	Welcome to the Best Real Estate and Best In Best estate investing advice ever show I'm
0:43.3	Slocum Reed and today we are rejoined by Nick Zagobird. I interviewed him in
0:48.7	an episode 3051 that episode on January 1st, 2023,
0:53.8	Putting Your Investors Needs First.
0:56.6	It was the title of that episode.
0:58.5	Nick is based in Rochester, Minnesota and Tacoma, Washington. His firm is Black Swan Real Estate, which is a vertically integrated investment and property management firm with 330 million in assets under management from single family homes to large multi- and
1:14.2	$30 million in assets under management from single family homes
1:14.1	to large multifamily communities.
1:16.6	They have a fairly unique ownership structure
1:21.4	or a GPLP model that I'm sure he will share.
1:25.0	The 330 million AUM consists of 1,400 units from single family to large multifamily, two-thirds of it in surrounding Rochester,
1:36.5	Minnesota and a third of it in Tacoma, Washington.
1:40.0	Nick, can you get us caught up on the last year and a half and tell us what your current focus is?
	...

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