Property Profits Real Estate Podcast

Drones overhead, tenants on the phone. George Alviter ran his rental portfolio from a bunker in the Middle East.
 
George is an Army National Guard captain, a licensed Realtor and an investor in Metro Atlanta. He owns duplexes, single family homes and a co-living property, and he has done over 1,000 broker price opinions.
 
He tells Dave how a property manager and simple systems kept his business going through a six month deployment. He shares how he keeps his life in buckets, why he thinks more Realtors should own rentals, and how he bought his first duplex with saved up commissions.
 
Now George is moving into multifamily as a co GP, bringing deal flow and a lot of grit.
 
Key topics:
Running a portfolio while deployed overseas
Juggling military, family and business
Why Realtors should invest
First duplex, cash out refinance, repeat
Moving from small deals into multifamily
 
About George Alviter:
George Alviter is a real estate investor, Realtor and Army National Guard captain based in Marietta, Georgia. He invests in Metro Atlanta and is now scaling into multifamily with Alviter Capital.
 
Connect with George: https://alvitercapital.com
Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate
Want to be a guest on the show? https://www.daveinterviewsyou.com

"My expenses are equal to 10 residents. We run all 16 bedroom mansions. And so the last 6 residents are profit."
 
Brett Chotkevys got tired of doing multiple fix and flips a month. He wanted one big deal a year that could cash flow and build a million plus in equity. With his own grandma in her early 90s, he jumped into assisted living in 2019, with no medical background.
 
Today he builds 10,000 square foot assisted living mansions with 16 private rooms and a private chef. Brett explains why he gave up on home conversions, why he builds on the affluent edge of town, and how he rolls equity from one building into the next.
 
Key topics:
Why residential zoning caps home conversions at 6 to 10 residents
The 16 bed model and why the last 6 residents are profit
Winning customers from big corporate facilities
Why assisted living is non medical
SBA loans, new construction appraisals and rolling equity
How his JV partnerships work
 
About the guest:
Brett Chotkevys runs Assisted Living Mansion out of Austin, Texas. He has operated assisted living homes since 2019 and builds 16 bed mansions, including a 7.6 acre project in Georgetown, Texas. He also hosts the Assisted Living Investing podcast.
 
Connect with Brett:
https://assistedlivingmansion.com/
 
Prefer to watch on YouTube?
https://www.youtube.com/@propertyprofitsrealestate
 
Want to be a guest on the show? https://www.daveinterviewsyou.com

TJ Burns found a wallet on the street, gave it back, and gained his first real estate partner. Today he runs a private lending fund that grows by serving loan brokers.
 
TJ spent 7 years as an engineer at Amazon. He was doing well by every measure, but he felt stuck. He calls it stagnation.
 
He moved into real estate, did over $20 million in deals with that first partner, then became a fund manager and finally an operator. He chose private lending because it scales across markets in a way multifamily does not.
 
TJ breaks down the three kinds of fix and flip lenders, and why his fund sits in the middle. He shares how loan brokers became the lifeblood of his deal flow, how he finds new investors on InvestClearly, and the order he builds a lending business in.
 
Key topics:
Leaving Amazon and the golden handcuffs
Why private lending scales
The local lender, the big institutions and the missing middle
White labeling a fund for loan brokers
Finding new investors through InvestClearly
Ops first, deal flow second, capital third
 
About the guest:
TJ Burns is a former Amazon engineer from Long Island, New York. He runs a private lending fund that lends to real estate operators, mostly in the Northeast, and is a GP in multifamily in New Hampshire.
 
Connect with TJ Burns: https://www.linkedin.com/in/thburns42/
Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate
Want to be a guest on the show? https://www.daveinterviewsyou.com

What if you could buy land without lowballing the seller, and the seller paid no tax on it?
 
Jeff Niemeier builds build to rent townhomes in Cedar Rapids, Iowa. His fund is building about 226 units across four parcels.
 
Jeff explains the 721 exchange. A landowner trades title to the land for partnership shares in the fund. Jeff pays part up front, the rest once the property is stable, and the owner keeps about a 5% share. It is not a sale, so the gain is tax deferred.
 
He also shares the $20 million deal he lost in 2014 because he could not raise his part in time, and why he now raises capital 365 days a year.
 
Key topics:
Why renters want townhomes, not apartments
Building new to hit the 1% rule
How a 721 exchange works for landowners
Losing a $20M deal and what changed
Raising money where the money is
 
About the guest:
Jeff Niemeier is the founder of JB Capital, a real estate private equity and construction company in Cedar Rapids, Iowa. He has been in and around real estate for about 25 years, starting in student housing. Today he focuses on build to rent townhomes and land development.
 
Connect with Jeff:  https://www.jbcapitalfund.com
Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate
Want to be a guest on the show? https://www.daveinterviewsyou.com

In 2017, Sergio Altomare could not make a single multifamily deal work. So he looked back at the Great Recession and found the one real estate asset class that still made money.
 
Sergio spent years at the Federal Reserve in bank supervision, watching boom and bust cycles up close. When the market felt overheated, he and his wife pitched a new plan to their investors, slowly sold their multifamily, and moved into self-storage.
 
They learned the business living in an RV parked outside their first property. Today they have 26 properties in 10 states, managed by CubeSmart and Extra Space, with a big focus on building from the ground up.
 
Sergio shares the 8 square foot rule he uses to find markets that need more storage, why new storage sits close to Costco and big box stores, and why he says commercial real estate has been in a quiet recession for years.
 
Key topics:
Why self-storage held up in the Great Recession
Buying, expanding and building storage from the ground up
The 8 square foot per person rule
The four D's that drive storage demand
How the slow housing market hit storage, and the 4 to 5 year exit plan
 
About Sergio Altomare:
Sergio is the co-founder of Hearthfire Holdings, a self-storage company based in Philadelphia. Before real estate, he worked at the Federal Reserve in bank supervision and regulation. Today his team buys, expands and builds self-storage across 10 states.
 
Connect with Sergio: https://hfirecapital.com/
Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate
Want to be a guest on the show? https://www.daveinterviewsyou.com

"There's a lot of pride in ownership, and there's not much pride when you don't own something."
 
Luke Kramer and his dad run Freed by Real Estate, a family owned company in Omaha, Nebraska. They started with direct mail and house flips. Today they have around 800 units, with a focus on multifamily buildings from 20 to 150 units.
 
Luke explains why they only buy where they have first party management, meaning the manager owns part of the deal. He shares why direct mail stopped working for multifamily, how pocket listings and broker relationships now bring most of their deals, and why he sends handwritten letters with a $5 coffee card.
 
He also talks about raising capital, why every investment has a job, and how today's interest rates change the way they buy and sell.
 
Key topics:
First party management and why partners need ownership
Why Omaha and the Midwest work for value add multifamily
From direct mail to pocket listings and referrals
Handwritten letters, AI data scraping and a $5 coffee card
Every investment has a job: understanding your investors
Buying and selling with higher interest rates
 
About Luke Kramer:
Luke Kramer is a real estate entrepreneur with Freed by Real Estate, a family owned and operated, vertically integrated company based in Omaha. The company buys value add Class C and B multifamily in Nebraska, Iowa and South Dakota and manages its own assets.
 
Connect with Luke Kramer: https://freedbyrealestate.com
Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate
Want to be a guest on the show? https://www.daveinterviewsyou.com