Today, Michael Quarles interviews Jerry Fink, co-founder and Managing Partner of The Bascom Group, LLC. Jerry specializes in value-added and distressed multifamily and commercial properties, non-performing loans, executive suites, office, industrial, commercial, joint venture equity, and apartment. Join the conversation as Michael and Jerry talk about adding value to and refurbishing distressed properties, making buildings more energy efficient or ‘ green’ , technological trends, determining modern standards, and more!
Covered in This Episode
- 01:00 – Who is Jerry Fink?
- 01:00 – What does Jerry mean by ‘ distressed properties’ ?
- 03:27 – After what period of time is a building too old and needs to be refurbished?
- 04:27 – How does Jerry revitalize/modernize an apartment building?
- 06:41 – How does one add value to rental units? What is the typical cost per unit associated with this type
- 10:28 – What does Jerry do to the buildings to make them more energy efficient? What incentives may be offer
- 13:14 – Thank you to our sponsor, YellowLetters.com.
- 13:51 – How did Jerry get into the real estate business?
- 16:04 – How do you determine what modern standards are when refurbishing a building?
- 17:29 – What does Jerry see as the next trend in multifamily, from a technology perspective?
- 22:03 – What’s’ the typical turn over on Jerry’ s properties?
- 23:08 – What’ s the cost of a new tenant and how do you attract one towards your complexes?
- 25:19 – What type of candidates/opportunities is Jerry interested in?
- 26:37 – Are properties vacant while Jerry is in the process of rehabbing them?
- 27:23 – Where does Jerry see his business in the next 5 years?
- 29:49 – What aspect of this business is rewarding for Jerry, beyond making money?
- 32:45 – Jerry shares his final thoughts on the interview.
- 33:19 – Michael shares his thoughts after his conversation with Jerry.
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