JF3719: From MLB to 6,500 Units, Navigating California's Market, and Tackling Insurance Hikes ft. Josh Satin

The Best Ever CRE Show

Best Ever CRE

Investing, Entrepreneurship, Business

4.7 • 996 Ratings

🗓️ 9 November 2024

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

Slocomb Reed interviews Josh Satin, managing partner of Gelt Venture Partners, who shares insights into his journey from professional baseball to real estate investment. Josh discusses his recent acquisition of a multifamily property in San Diego, detailing the business plan, value-add strategy, and the operational challenges faced in the current market. He emphasizes the importance of market knowledge over asset quality, shares lessons learned from past mistakes, and explains how he manages rising insurance costs. Josh Satin | Real Estate Background Partner and Chief Investment Officer at Gelt Venture Partners Based in: Los Angeles, CA Say hi to him at: LinkedIn Sponsors: Altra Running 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 informational
0:04.8	purposes only and should not be construed as an offer to buy or sell any securities or to make
0:10.6	or consider any investment or course of action. For more information, go to bestever show.com.
0:17.0	The market is more important than asset. So do not go to a market because of an asset. Find an asset because of a market.
0:24.6	Welcome to the best ever CRE show, the world longest running daily commercial real estate podcast.
0:30.0	If you want real stories behind the good, the bad, and the worst ever deals, plus insights into what really goes on in the commercial real estate investing, you're in the right place.
0:37.8	Our host interview commercial real estate experts every day to uncover secrets and
0:41.2	strategies you can use to become a better, more informed investor. This is the best ever
0:46.5	CRE show. Best ever listeners. Welcome to the best ever CRE show. I'm your host,
0:51.8	Slocum Reed, and today we are joined by Josh Satin. Josh is joining us from
0:56.3	Los Angeles, California. He's the managing partner of Gelt Venture Partners who own and
1:01.6	operate multifamily properties. Josh oversees acquisitions, asset management, insurance, and
1:07.3	construction. The current portfolio includes 24 properties and a total of over 6,500 units. Josh,
1:14.2	can you tell us a little bit more about your background and what you're currently focused on?
1:17.7	Yeah. Thanks, look. I appreciate you having me on. So my background is, I'm from L.A. I was a former
1:24.1	professional baseball player. So I spent 10 years playing professional baseball from 2007 to
1:29.5	2016, most of which was with the New York Mets, spent a handful of years in the major leagues.
1:35.0	And my career fell apart, just trying to figure out what to do with the rest of my life.
1:39.8	And really took a liking to real estate, read a bunch of books, listened to a bunch of podcasts,
1:44.8	and then joined a company in 2016, Gelt.
1:48.7	At the time, we owned about 3,000 units, give or take.
1:51.9	And I've been there ever since climbing up the ranks until about 18 months ago,
	...

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