33. Student housing acquisitions with Mark Weinstein

Westside Investors Network

ABOUT MARK WEINSTEIN

Mark Weinstein is the President and Founder of MJW Investments. After beginning his career as an attorney, he founded MJW Investments in 1983 when he discovered the potential of real estate investment and development through several successful ventures. Since then, he has acquired over $1,500,000,000 of student housing, apartment, commercial, industrial, and self-storage buildings. MJW currently owns a portfolio worth 1,000,000,000 MJW was rated 7th largest Commercial Developer by LABJ and Mark was voted one 500 most influential people in LA for 6th straight year.

THIS TOPIC IN A NUTSHELL:

[01:16] How he got into real estate

[03:10] Acquiring student housing properties during college days

[06:10] Challenges or hurdles in the development sector

[07:36] Value-add projects

[10:30] Opportunity cost from first few deals

[11:45] Insights learned on drifting away from your niche

[14:00] How to analyze deals to increase NOI

[16:45] Ways they add value to properties

[19:00] Organizational groups joined for networking

[21:00] Seasonal arena on student housing

[21:28] Difference between Student housing from Multifamily

[22:30] How the pandemic affected the student housing industry

[22:51] Why student housing is more difficult to manage?

[24:27] Student housing renovations

[28:00] Advice to investors

[30:00] Starting a coaching program

[31:07] Philanthropy activities and mentorship program

[33:48] Co-GP platform

[38:04] Advice to his 25-year-old self

[39:15] First Entrepreneurial endeavor

[39:48] His Formal and Informal training that shaped his journey

[41:08] The Deal that got away

[42:57] How to reach out to Mark

KEY QUOTES:

[10:30] I tell people that the loss of money there wasn’t a big deal, it was the opportunity cost. What people tend to not focus on is not that you lose money on a particular deal, but that I lost the opportunity to do all the things that were really making me a lot of money, which is much simpler, much more on my core competency and much more controllable.

[29:59] When you do good things, great things come back. Just do good in the community, be a good person, it's infectious and it gets others to do things. I do a lot of philanthropy with other real estate people, so those people that I’ve mentored over the years want to partner with us. So that platform also helped us see more great deals and great sponsors.

[42:27] I’d say some of the best deals that you do are the ones that you don’t do because often you don’t make a mistake, you made the right decision, you didn’t do it and that freezes you up to do so many other great things. Your time is a commodity and getting involved in a bad deal can make you go sideways, you worry about it, you’ll get engrossed in that bad deal and you’ll miss all the good deals around you.

KEYWORDS:

NOI (Net of Income) - is the amount an individual earns after subtracting taxes and other deductions from gross income.

Cost segregation - is a commonly used strategic tax planning tool that allows companies and individuals who have constructed, purchased, expanded, or remodeled any kind of real estate to increase cash flow by accelerating depreciation deductions and deferring federal and state income taxes.

SUMMARY OF BUSINESS

MJW Investments specializes in the acquisition, development, and asset management across a diverse portfolio. Our successful emphasis on revitalizing and repositioning multifamily and student housing properties has grown our current portfolio to nearly 1,000 multifamily units and 6,500 student housing beds across eight states.

Throughout its more than 35-year history, MJW Investments maintains its passionate vision to stimulate economic prosperity, build communities and enrich individual lifestyles by pioneering intelligent urban redevelopment projects. MJW’s unrelenting effort to achieve success for its partners and investors is responsible in part for the company being named one of the largest developers in Southern California by the Los Angeles Business Journal.

ABOUT THE WESTSIDE INVESTORS NETWORK

The Westside Investors Network, is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.

The Westside Investors Network strives to bring knowledge and education to the real estate professional that is seeking to gain more freedom in their life. The host's AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.

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YOU MAY CONTACT MARK WEINSTEIN VIA:

Email: [e-mail]

Website:https://mjwinvestments.com/

LinkedIn: @MarkWeinstein, @MJW_Investments

Social media:

Facebook: https://www.facebook.com/mjwinvestmentsinc/?ref=hl

Twitter: