98. Deal Deep Dive - Adaptive Reuse: Investing in Distressed Assets with Jake Harris

Westside Investors Network

ABOUT JAKE HARRIS

A sought-after expert, speaker, & gifted storyteller, Jake inspires those around him with his contagious energy & encyclopedic knowledge. His decades of experience influenced his #1 best-selling book, Catching Knives, featured in the NY Times & Yahoo Finance.

Jake is the founder and managing partner of an award-winning commercial real estate firm. To date, he has purchased & sold 1200+ properties in 23 states & amassed a portfolio of iconic properties. Jake has a Master’s in International Real Estate, sits on the FIU Real Estate Board, is an accredited Congress of New Urbanism city builder, is a member of CCIM, Urban Land Institute (ULI) & holds a CA real estate broker's license.

THIS TOPIC IN A NUTSHELL:

Jake’s Journey to real estate

Writing his first book: Catching Knives

Getting into Single family homes and House Flipping

Not giving up the golden goose

Doing something sustainable

Putting systems into place

What is Adaptive Reuse

About the Deal

Investment Thesis

Market criteria that they are looking for

How they got the deal

Condition of the property

Pros and Cons of doing Adaptive Reuse

Opportunity zone Investment

Returns for Adaptive Reuse Compared to Value-add Deals

Underwriting and Refinance

Adaptive Reuse vs. Newly Constructed Buildings

Jake’s thoughts on the current market and how to combat that

Quantitative tightening and effect or FED raising rates

Connect with Jake Harris

KEY QUOTE:

“The reality is when you start anything new, you're likely to get mistakes from that, so if you go give up the golden goose, there are times that you need to infuse more capital into that.”

SUMMARY OF BUSINESS:

Harris Bay is a US-based private equity real estate firm that focuses on commercial real estate development and investments. We believe in a collaborative work environment and use data analytics and sophisticated due diligence to make informed decisions. Our team is made up of pioneers, visionaries, and rebels who are passionate about innovative design and urban living. We partner with bold architects, designers, and artists to create unique, experiential projects in growing secondary and tertiary markets. Our approach to commercial real estate is fresh and forward-thinking, and we are always pushing the boundaries to redefine urban infill and historic preservation.

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 real estate professional that is seeking to gain more freedom in their life. The host 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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CONNECT WITH JAKE HARRIS:

Website: https://catchknives.com

LinkedIn: https://www.linkedin.com/in/jakeharrisrealestate

Instagram: https://www.instagram.com/jake.realestate

Facebook: https://www.facebook.com/harrisbayiconic

YouTube: @Jake Harris

TikTok: @jake.realestate

Check out his podcast: https://passivewealthpodcast.com

CONNECT WITH US

For more information about investing with AJ and Chris:

· Uptown Syndication | https://www.uptownsyndication.com/

· LinkedIn | https://www.linkedin.com/company/71673294/admin/

For information on Portland Property Management:

· Uptown Properties | http://www.uptownpm.com

· Youtube | @UptownProperties

Westside Investors Network

· Website | https://www.westsideinvestorsnetwork.com/

· Twitter | https://twitter.com/WIN_pdx

· Instagram | @westsideinvestorsnetwork

· LinkedIn | https://www.linkedin.com/groups/13949165/

· Facebook | @WestsideInvestorsNetwork

· Youtube | @WestsideInvestorsNetwork