A retail store is no longer just a place where someone walks in and buys something. Jeff Rosenberg explains why physical locations can also support online sales and help retailers reach customers in several different ways.

Jeff is part of the third generation of an 80 year family business focused on retail real estate. Big V owns and operates open air shopping centers across the United States, with an approximately $2.5 billion portfolio and roughly 55 to 60 assets.

Jeff explains what open air retail looks like today, including large centers such as The Rim in San Antonio. He also talks about new construction in Anna, Texas, where Big V is developing projects that include Kroger and Target.

A big part of the conversation focuses on how retail has changed. Jeff describes how stores now work as part of a larger system that includes online ordering, delivery, store pickup, and curbside pickup.

He also explains why Big V recently opened its business to accredited investors through Big V Direct.

• What Big V means by open air retail
• How Big V manages acquisitions, leasing, construction, property management, legal work, and capital markets in house
• Why limited new retail construction has created development opportunities
• How Target combines physical stores with online ordering and fulfillment
• Why Jeff says physical stores can support online sales and customer acquisition
• How accredited investors can learn about and invest in Big V opportunities through Big V Direct

Jeffrey Rosenberg is a third generation leader at Big V, a retail real estate company with more than 80 years of history.

Big V Direct:

BigVDirect.com

Company information and properties:

BigV.com

Visit BigVDirect.com to learn more about the company, view educational material, and sign up for the newsletter.

You can also visit BigV.com for more information about Big V, its properties, and its retail real estate business.

Getting through a tough multifamily cycle has not been about buying more for Candice Muldrow. It has been about tightening operations, building repeatable systems, and leading the people responsible for carrying those systems out.

Candice and her husband, Corey, are the cofounders of MGroup Capital and MGroup Residential. Their portfolio includes more than 700 units across Dallas Fort Worth, with most properties around the 200 unit range.

During the last couple of years, they slowed acquisitions and focused heavily on operations. Candice explains how that work helped them build repeatable systems and create a management company that she says is now largely scaled and running without them.

She also explains why they chose to bring management in house. For Candice, it came down to execution, speed, and control over the business plan.

The conversation also looks at current acquisition opportunities. Candice shares that they bought their first 18 unit property in 2017 for about $70,000 per unit. Today, she says they are seeing some similar B and C multifamily assets priced in the $60,000 per unit range. But she warns that today's expenses are also much higher, so lower pricing alone does not make a deal work.

KEY TOPICS

• Why Candice focused on operations instead of buying more properties
• The two sides of operating a company: systems and people
• Why MGroup moved away from third party property management
• Why lower multifamily prices still require careful expense underwriting
• How Candice and Corey built their investor network over about 10 years
• Why MGroup plans to bring even more operational services in house

A single hard money loan made with unused fund cash helped change the direction of Will Harvey’s business.

Will originally started his first fund to invest in private real estate syndications. After completing one hard money loan, then a few more, he looked at the returns and risk profile and decided to put much more of his attention into private lending.

Today, his business has two sides. He needs good borrowers who need capital, and he needs investors who can help fund those loans.

Will describes that challenge as a seesaw. At different times, he has had more deals than money or more money than deals. Over time, he has learned to work on both sides at once.

He also explains why his ideal borrowers are often experienced BRRR investors doing around 5 to 20 deals per year. He looks for people with experience, cash reserves, and a balance sheet that can handle problems when they come up.

Key topics and takeaways:

• How Will moved from mortgage lending and rental properties into private lending
• Why his first hard money loan happened almost by accident
• The seesaw between finding borrowers and raising capital
• Why relationships have been his strongest source of repeat borrowers
• How Google Ads have also produced leads and closed loans
• Why many of his borrowers are BRRR investors instead of only flippers
• How loan participations can return capital while keeping exposure to a loan
• Why speed, technology, and AI are part of his borrower experience