Real Estate Revealed

#12 - Pamela Bardhi, Commercial Development & Brokerage

Eric Wilson
January 14, 2021

SUMMARY KEYWORDS

real estate,pam, people, dave, invest, boston, property, north shore, buy, years,commercial real estate, investors, absolutely, assets, investment, mentor,revealed, opportunity, talk, relationships

SPEAKERS

Pamela Bardhi,Dave Seymour, Intro Voice Over

 

00:36

back. Hey,it's

 

Dave Seymour 00:37

DaveSeymour. It's 11 o'clock. It's not known. It's a new time right here realestate revealed 104 point nine FM Northshore radio. Welcome to our regularlisteners. I hope you're cool. At this new time. We didn't throw a wrench intothe party as we say. And for those of you joining us for the very first time,welcome. Welcome to real estate revealed where every week I interviewentrepreneurs, really entrepreneurs and operators movers and shakers in thereal estate world but but not maybe what you're familiar with. When you thinkabout real estate. I said every week we're not the home and garden. HGTV paintcarpet tick. Pamela Stop laughing I haven't introduced you yet. We're not thepaint. We're not the paint and carpet. You know, run of the mill HGTV you know,let's put up a new light Oh my God, my house is worth $20,000 more because Igot a new outside light. There's no what we're doing here. Okay. There's a guysaid to me one time he said, David, take off the short pants put on the longpants and grow up a little bit. So we're going to look at real estate from froma maturity standpoint, we're going to look at real estate every week. From aninvestment standpoint. Now you may recognize my my dulcet tones, as they seemore of the star of the hit TV show, flipping Boston the aired on a and e forfor many seasons right here in in our marketplace. But I'm also the CEO andfounder of a company called freedom venture investments. Freedom ventureinvestments is a commercial real estate investment company. And we investcapital invest the capital, in commercial real estate opportunities, verysimilar to like the hedge funds and the retirement companies do only we're ableto bring those same kind of quality investments to what we call retailinvestors. And we'll talk about that towards the end of the show today. Butenough about me i'm gonna i'm going to introduce a woman who, who's become avery dear friend of mine. Over the past, I would say 678 months. You know,COVID was a was a terrible scenario that we've been in that we continue toface, even in this new year of 2021. I know we still have a lot of COVIDchallenges, but you know to we will talk about it on the call a little bit butbut this lady came into my sphere of influence through actually LinkedIn. Weconnected to do a podcast. She's been a podcaster for quite a while now she hasa show. It's called the underdog talks about entrepreneurs who kind of startedwith the bootstrap mentality and work their way to success. Pam is also a realestate entrepreneur in her own right. She immigrated to this country when shewas very young, a lot younger than I was when I immigrated to this country.She's been highlighted in Time Magazine, Forbes, other major media outlets. Sheis the CEO of the moesha Group, which is a real estate development group righthere in Boston. She's got the energy of the Energizer Bunny times 10. She's abeautiful woman, I talk about beautiful, dignified women of industry. And thisthis lady absolutely fits that bill. I'm excited to have her come on to theshow early in the year because it sets the tone for everything that we're goingto do this year with real estate revealed. So without any further ado, ladiesand gentlemen, boys and girls a drumroll please for my very dear friend andentrepreneurial Nemesis in the Boston marketplace. Pamela barty. Pam, pleasesay hi there.

 

Pamela Bardhi 04:20

DaveSeymour, that was the most fabulous introduction ever. Thank you so so much forthe awesome introduction. God, I gotta say it I just love you. You're awesome.I

 

Dave Seymour 04:32

do. Ido. I genuinely I said to I was talking about Mary Beth, my wife, who you metat a live event that we did right here in Peabody, over at polana Steakhouse.And you and Mary Beth got to hang out and get to know each other a little bit.And I said, Great show this week. She said who's coming on? I said, Pam, shewent

 

04:51

all Pam

 

Dave Seymour 04:52

and Ithink you had on your red jumpsuit. It's almost like your like your you know,like your uniform to go to work and, and I said, Yeah, Pam, she said, greatlady great energy. So yeah, it's it's an honor to have you on the show. Um,look, there's so much that we could talk about when it comes to your journey,Pam. But give me give me the lowdown. I know you're a real estate mogul todayin the Boston marketplace in development and stuff. But you didn't start outthat way. This is my chance to stop talking and to listen. So share a littlebit about the journey from Yeah, like coming to the states very early. Tell meall about that.

 

Pamela Bardhi 05:32

Absolutely.Dave, thank you so much, again, for the wonderful introduction. I lovemarriage, you just make sure you tell her that? Well, for me, so my parentscame to the United States when I was five years old, right? They werecompletely unprepared because my grandmother actually was the one who put theirnames in the visa lottery. So they had no idea named got chosen, they dropped,everything came here. I was five, my little brother was six months old. So afew years after being here, you know, my dad developed some mentors, butespecially one in the restaurant business. And what he told them was critical.He said, SoCal, you know, in the United States, the way that you build wealthis if you own something, whether it be real estate, or that be a business. Sohe invested, he gave my father his downpayment, for his very first business,which was a restaurant, when which he bought in the year 2000. So I startedworking there when I was 10 years old, mostly because I was a daddy's girl, andjust wanted to hang out with my dad. And so basically, you know, I just startedthere, and I just, you know, I started working cashier, you know, meeting thecustomers. And basically, by the time I was 18, I was running my father's storecompletely back end, like, you know, front end, you know, being there forcustomers and all that, but also doing operations, websites, social media, likeall of that stuff. And then by the time I was 21, I had to have my own restaurants.And then shortly thereafter, I was like, you know, I don't know how I gotbored, but it did. And I've somehow wasn't fulfilled. So I was, like, you know,I've been putting all my eggs in one basket in the restaurant world, like, Ineed to diversify. And then of course, you know, the one industry that came tomind that everybody talks about real estate, right. And uncle who's a was ageneral contractor in the Riviera, North Shore area, he, you know, he was likeinvesting in properties up in Linn and my dad invested in a few properties withhim. And that was when you can get things and Lin for, you know, singlefamilies for like, 100 k 80. k, you know, I

 

Dave Seymour 07:33

rememberthose days passed with a good old day.

 

Pamela Bardhi 07:38

So mydad, he was like investing in these projects. And literally all he was doingwas like signing paperwork. I was like, okay, and he was making some prettygood return. So I was like, you know, I want to learn how to do this. And I waslike, Dad, would you invest in in me if I tried this out? And he was like,Yeah, let's do it. So I hired a mentor, which was very important, hired amentor, because I knew nothing about real estate, nothing about construction.And all I wanted to do was flip. That was my goal was like, I learned how toYep. And so I hired a mentor. And then about like, two months into thementorship, I actually bought my first single family flip in Stoughton, Mass.And shortly thereafter, I was like, you know, I should probably get my real estatelicense. So I know what I'm investing in, you know, the numbers are mostimportant, as you know, Dave, like, the number actually, what you buy it for,what you put into it, and what you can sell it for, those are the threeelements of flipping down to down to a tee. And so what that what happened withthat was, you know, people started saying, hey, Pam, can you help me with this?Hey, Pam, can you help me with that? And what that turned into is like thiswhole networking, thing and brokerage that I never anticipated, because all Iwas thinking about was flipping right? And so to to date, in the last eightyears, I've been in real estate I've sold developed or acquired over 100million in real estate assets in and around the Boston Market. And that's all happenedthrough relationships, honestly. Sure.

 

09:04

Sure.

 

Dave Seymour 09:06

I gettake notes quick enough, lady, like you drop, you drop these these bombs ofstatistics about this journey. So I'm doing some math. So in 2000, you're fiveyears old and you work in the restaurant, right. Okay, so so we could we canfigure out roughly because you never asked a woman how old she is. But forthose of you listening, do some simple mathematics and figure out how much hasbeen achieved by this. This is fantastic woman in such a short amount of timenumber one, but I think Pam, what's important to know, right so that the icethe icing on the cake of that story you just told is $100 million worth of realestate transactions, you know, either as a broker or as an investor in the pasteight years, but when you when you peel back the onion, right when you peel itback What I got in there was is, you saw that signing paperwork and passingcontracts around was one way to make money. You also mentioned a couple of times,hire an expert. Talk, you talk about mentorship in your restaurant, yourfather's restaurant business, you talk about, you know, you talk about hiringexperts to help you along the journey. What Why do you think it's so important?Because you also said relationships, like the 100 million in transactions isdue to relationships. Why is that that part of it's so important the mentorshippiece in the relationship building? What's your, you know, what's your, your,your fine print when you when you mentioned that stuff?

 

Pamela Bardhi 10:43

Absolutely.So mentorship, I mean, it's in invaluable, it's priceless, right? The fact thatyou can hire someone, you know, like a consultant, a mentor, a coach, whateveryou may call it. These are individuals who have been through it. been theredone that kind of situations? Yeah, their experiences have outlived mine. So atthat time, I was 21 years old. I was like, I am not I cannot afford to makemistakes when I have other people's money invested in what I'm doing.

 

Dave Seymour 11:12

So thatagain, say that again. Yep. As I read that sentence again. Yes.

 

Pamela Bardhi 11:19

So I,you cannot afford to make mistakes, when other people are investing in yourprojects, you cannot afford it. So having a mentor who's been there done that,that can teach you of what not to do, and what to do to be successful that islike, in valuable, absolutely invaluable. And not just that, you know, like,and you also mentioned, I mean, like the mentorship is absolutely, absolutelyhuge. Like that. That's everything. That's absolutely everything,

 

Dave Seymour 11:50

right. Iremember I remember early in my journey and tell me if you resonate with this,I remember early in my journey, a guy said to me said, Look, you can make yourown mistakes, right? You're paying for your own mistakes out in finance, hesaid, or you can pay somebody else for their mistakes. Yeah, and I can't right.And I kind of looked at that. And he said to me, what's the common denominator?I said mistakes? You said, yeah. He said, You do have to do it all yourself.Right? That is that old adage from my generation? Not so much yours. I know,you know the answer to this. But it's like, I was always told, if you wantsomething done, right, you had to do it yourself. Right? I'm 54 years old. Iheard that from, you know, from the age of 10 on and it was a lie. It wasn't.If you want something done, right, find somebody who's already done it rightand pay them to do it for you. And I was like, Oh, right. So it was thatcontrol piece of it going forward? What about the relationship side of it?Because I always talk about there's no such thing as a self made. millionaireor millionaire s right. If they say I did it all myself, if they're not tellingyou the truth. Tell me about some of you know what we're gonna go to a quickbreak. I'm on a roll already. Pam, you did it to me. We're gonna go to a quickbreak. When we come back from the break. I'd love for you to share just acouple of the key relationships that you would say are absolutely critical,like the roles that they played, be it finance or construction, or you know,just just guidance and mentorship like we've talked about, but just identify acouple of those those key people in your life and what they brought to thetable to accelerate your success and then in return the success of the folksthat that invested alongside you can we can we peel that back a little bit whenwe come back from the break? Yeah,

 

13:34

absolutely.Awesome.

 

Dave Seymour 13:36

We'regoing to a quick break. Don't go away. You're listening to Dave Sema, and he'svery dear friend Pam party from the motor development group out of Boston.Talking everything real estate and everything money, we're gonna be right back.

 

Intro Voice Over  13:50

RealEstate revealed We'll be right back. Today, the real estate market is booming.mortgage rates just hit historic 30 year lows and the New York Times recentlyreported that investors are snapping up real estate at rock bottom prices. Andnow savvy investors are buying real estate using their IRA that allows them toaccess their retirement funds to buy properties without paying any penalties orearly withdrawal fees. If you have funds in your retirement account and you areinterested to learn more call horizon for us today at 866-712-2007. That's866-712-2007 unlock the power of your retirement account and take advantage ofone of the most profound opportunities in real estate since the housing crisis15 years ago, call horizon trust retirement specialist at 866-712-2007. And fora limited time, get our free Ultimate Guide to buying real estate with your IRAthat's 866-712-2007 or visit horizon plus.com slash date. Horizon Trust Companyis an independent passive custodian and is not associated or affiliated withand does not recommend promotional On any specific investment, investmentopportunity investment sponsor, investment company or investment promoter orany agents, employees, representatives or other such firms or entity horizontrust is not providing investment advice, advocating or endorsing real estate.These options may or may not be a fit for individual investors investments arenot FDIC insured, offer no bank guarantee and may lose value horizon trustdoesn't receive any commissions or fees if I invest with any other sponsor.

 

Dave Seymour 15:19

You everwondered how to create cash flow outside of your job income or retirement plan?Have you considered large commercial real estate assets? Do you know what analternative investment strategy is? With tune in for all the answers on my showreal estate revealed this is they see my might recognize me from the hit TVshow flipping Boston's. I'm also the CEO and co founder of freedom ventureinvestments to smarten up your real estate now by tuning in every Saturday. Forall investment details, visit us at info at freedom ventures.com slash 104point nine call my team at 781-922-4418

 

Intro Voice Over  15:51

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Dave Seymour 16:30

Allright, you're back. Welcome back. I hope you didn't go anywhere. I know we're alittle earlier today than we have been in the past. But maybe you're stillmaking the kitty some lunch. You know, you got that project for the weekend.Maybe you're working out with the new year's resolution? What's your financialNew Year's resolution? Ooh, there's a question for you. Is this the year that Ialways remember people say, Pam, you appreciate this. This year, I'm going tobe rich. And we're like now riches and a number right putting a number on itgoing forward. But we're talking everything real estate, we're talkingeverything finance, we're not talking about paint and carpet, like I said,we're delving a little deeper into how real estate has been the vehicle forwealth creation. For an elite group of people for a very, very, very long time.Like they've already laid out a business plan or a route, if you will, ablueprint of how to do that. Some people follow that blueprint. Some peopledon't. Pam is a young lady who has followed the blueprint of success when itcomes to creating wealth in real estate not only for herself and her family.But for the people that invest alongside it very similar to the same way weoperate here at freedom venture investments. So before the break, we weretalking about relationships Paramount, and like some of the key people in yourcareer that have made a dramatic difference in in, you know the velocity of yoursuccess. Tell me about a couple of those folks, you don't have to go too deepon it. But who were they and what was it that they did for you that reallyhelped you propel forward?

 

Pamela Bardhi 18:00

Absolutely.So I would say, you know, in my career, I would definitely say my mentor, whenI first started out, he was fantastic in helping me, you know, basically learnthe logistics of the game, right? And how to avoid these pitfalls. And youknow, how to make sure that I'm properly estimating all the construction costson a project and all these different things. So he was huge. My uncle was alsohuge and influential in this because when I would call him for constructionquestions, you know, I'd be like, Hey, I'll go, you know, I have a quick question.Who would you recommend for this? And he's like, Oh, don't say that. I'll bringyou a guy. You know,

 

Dave Seymour 18:38

I know aguy, right. I know, I got I got a guy. I know a guy. I'll call my guy now.Yeah, he got kicked off.

 

Pamela Bardhi 18:46

Andthen, you know, attorneys, you know, that that I've met throughout the years,you know, to like Sonia salami. I mean, she's been outstanding, and in helpingme in every single transaction that I've done both personally and all of theclients that I've referred to her, and then also another one of my attorneysAngel. I mean, she, you know, she's in the company. She's a commercial realestate attorney, and she taught me so much about the commercial real estategame and just put to try to put together every single contact that would helpme in this game. And I mean, it just, it's been so many people that have beeninstrumental to, to where I am today, and I give all the credit to them. Andthen I'm also gonna say this Dave is like, people that I was inspired by, likeyou, you know, I was, I was following you for years before I reached out to youbecause, like, I just, you know, I was still in the game of like, hustle doingthis. And I was like, You know what, with this podcast, I just, I just want toreach out to him like, I just think he's so awesome. So like seeing somebodylike you go out there, go out there and do it and knowing that, yes, it ispossible dreams can come true like that. That is what drove me. And really justbuilding these relationships authentically and figuring out ways how I cangenuinely add value and not just bigger right? Just like Go into it and bringsomething to the table. Right? I've always been told, you know, if, if you havenothing to bring to the table like don't sit there. Right,

 

Dave Seymour 20:08

right.Right. Right. And I mean, and if you're and if you're the smartest person inthe room, you're in the wrong room. Remember that one? Absolutely.

 

Pamela Bardhi 20:16

Sure. SoI'm always learning. You know, I'm always learning at Harvard Business School,I was the youngest female in the room. You know, when I was there, I had, youknow, international, colleagues, classmates, if you will. And you know, one ofthem is like a Saudi Prince. And just like incredible, like all God, stop,

 

20:34

timeout,

 

Dave Seymour 20:34

timeout,all you name dropper, oh, listen to you. So the app just said, when I was atHarvard, have it Business School. Tell me about that experience? Because I knowyou, you'll gloss over it. But tell me about that experience at HarvardBusiness School, because you went there, and you did real estate developmentand financing, and all of those kinds of really smart things that people don'thave a business goal, correct?

 

Pamela Bardhi 21:02

Yes,correct. So that that program was really outstanding, and I met people from allover the world, and that I have lifelong relationships with so I gotta give thecredit to my relationships, also to my financial institution. I mean, thefinancial, educational institutions that I've been involved with, and financialinstitutions have helped me to, like my lenders have helped me leverage certainthings that I just never thought were possible. Like, I didn't know what abridge loan was, you know, when I first started, you know, and all thesedifferent things you could play with lending and real estate. So the financialinstitutions with educational like, I also went to Babson. And I also went tostone Hill. So within all of those networks, I have just had the amazing fortuneof having the most incredible teachers, and incredible mentors come out ofthat, who are always just like, willing to help, right? And just be like, hey,PM, like, what what are you looking for? Let me help you. And it was alwaysvice versa. So relationships are the reason why I am where I am today. And Ialways credit that $100

 

Dave Seymour 22:04

I loveit. So I you know, takeaway notes? Again, I'm learning from you as Yeah, firstof all, thanks. Thanks for, you know, thanks for the nod, like the inspiration.I mean, you know, for those who don't know, you know, I was a firefighter inthe city of Lynn for for 16 years, and transitioned into, you know, into the,into the pants that I wear today in the real estate world. And you know, thatthat story has been an inspiration for some folks, I think humility isimportant when we achieve good things. And that's something I love about youlike, the the humility you bring to it, because that humility is also whatpeople identify with, when they invest with us, right? You know, the big, thebig ego, and the big swing in attitude, etc, etc, doesn't doesn't generate orattract, you know, the types of investors that we tend to bring to our deals,you know, the, the, the retail investor with the retirement accounts aresomebody who's, who's got money sitting in a savings account, or a 401k, that'sunderperforming, etc. So, you know, I like I like the humility of what youbring, but at the same time, you know, education, you're talking about thateducation piece, and you tell me if you've experienced this, I know a lot ofpeople, Pam that are highly educated in certain areas. And yet educationknowledge is only powerful if it's implemented, right. And there are somepeople who just have a lot of collegiate background and expertise, if you will,and yet don't reach their financial goals, because they really don't put thatknowledge to work. I mean, you're a perfect example of not only learning butobviously also doing Correct,

 

Pamela Bardhi 23:49

correct,I always like to say I'm a mix of old school mixed in with new school, becausemy parents taught me the old school side of the hustle of sacrifice. And thenthe new school is everything I learned in the educational systems and plus,like, you know, this era of doing business and with technology and all that. So

 

Dave Seymour 24:05

I wasI've been talking a lot recently to representatives from family offices, okay.family offices, all those high net worth families that have a track record, inbusiness, you know, they've got themselves so a family offices, you know, Pam,and I'm going through this to for the listeners to understand, but you justbrought up a point, which is really important is that these family offices havebeen generationally, you know, creating wealth for their families. And that oldschool mentality, the hustle the ground up, combined with the new generationsof, you know, the millennial mindset around, you know, systems and operationsand education and implementation is what I would, here's where I'm going withthis. I know I talk in circles, and I apologize, but here's where going withthis. I know, like, I know, like, I know that the bardi family is only going togrow financially and be that family office, that institution, you know, maybe two,three generations down, because of all of the work and the hustle that you putin now, and the service that you're given to the people around you.

 

Pamela Bardhi 25:22

Doesthat make sense? Thank you, Dave. Yes, that that's my, that's my dream. And that's,that's my goal. Honestly, it's all for the future and the family and, you know,and, and for making my parents understand, you know, what they did when theydropped everything, and just came here without preparing a single thing intheir life, that I would make the sacrifice worth it. That's all I knew. That'sall. Like, that's my number one motivation. And that always will be,

 

Dave Seymour 25:45

yougotta you gotta love the immigrant story, you know, this whole country, thinkabout it, right, Ellis Island, give me your boy, you're hungry. We came here,you know, 150 years ago, 100 years ago, you know, you you when you were fiveyears old, me when I was 20 years old, we still came to that to the greatestcountry in the world where the hustle is rewarded when it is to be of serviceto other people. there's a there's a saying on my wall here. And it's actuallya zig ziglar quote, and you'll appreciate this poem, it says, if you can have ayou can have everything in your life that you want, if you just figure out away to get everybody else in your life what they want, right? be of servicefirst. And that and that allows people to to, you know, to meet their owngoals, and we've been able to do that with with real estate investing. So we'rekicking butt and taking names here, which is awesome. But let's let's talk alittle bit. We've got a couple of minutes before we go to a break. But let'stalk a little bit about this COVID crisis. What do you what did you see inMarch, April, May June? What did you do in your business to adjust? And to kindof like look at the landscape. And you know, the ultimate word is pivot. Whatdid you do in your business plan? What did you see in Boston?

 

Pamela Bardhi 27:10

Yeah, soCOVID I mean, 2020 has been a year of reflection, actually, it's it's sort ofbrought me back to understand what's important, what do I really want to focuson, and really my strategy, and it was crazy for me, because I didn't feel muchof an impact in my world. Because for one reason or another, like I've haddiversified revenue streams. So for me, it was always like, Okay, well, ifdevelopment is delayed, then I've got brokerage to fall back to fall back on inwhich brokerage was crazy this year, it was absolutely nuts. So it's likehaving the diversified streams of revenue, helped me big time during duringCOVID. But, you know, there's been a lot of pivoting of a lot of individualsthat I know, in their businesses, and I and some of them are bad, some of themare good. You know, I know people who've been absolutely killing it this yearmore than ever. And then there's others who have shut their doors, you know, soI've been fortunate enough to not have any financial impact from it. But youknow, and the businesses in real estate, everything just keeps booming, which,you know, who knows what's coming, what's coming in 2021 I have an idea afterthe break of what's going to happen, but you know, what are your thoughts Dave?

 

Dave Seymour 28:22

I can'tI can't go into that one. Because that's such a perfect segue we're gonna go towe're gonna go to another break here. And then I want you to share yourthoughts on what you believe 2021 landscapes going to look like? residentialbecause I know you're in that world as well but also in the commercial world. 338,000people left New York City the rents in Boston right now are at a 10 year low.landlords are actually given away months of free rent to try and get tenants inyou know, new new administration, new tax laws, new strategies, new regulationsare on the on the on the horizon. 2021 is going to be a year I think, wherepeople will either kill it and knock it out of the park, or unfortunately somepeople are going to experience some of the pain that we did in 2008 910. Don'tgo away. Pam Baggio share a secrets with you. We're gonna take a quick break.

 

Intro Voice Over  29:26

RealEstate revealed and we'll be right back.

 

29:31

SteveAlexis of Solaris realty has intimate knowledge of the North Shore market. Withover a decade of experience and record of 300 real estate transactions. Whenit's time to buy or sell property. Give Steve a call directly at 617-763-1001that's 617-763-1001

 

Dave Seymour 30:00

Haven'twondered how to create cash flow outside of your job income or retirement plan?Have you considered large commercial real estate assets? Do you know what analternative investment strategy is worth? Tune in for all the answers on myshow real estate revealed this is they see my might recognize me from the hitTV show flipping Boston. I'm also the CEO and co founder of freedom ventureinvestments to smarten up your real estate now by tuning in every Saturday. Forall investment details, visit us at info at freedom ventures.com slash 104point nine call my team at 781-922-4418.

 

Intro Voice Over  30:29

Todaythe real estate market is booming mortgage rates just at historic 30 year lowsand the New York Times recently reported that investors are snapping up realestate at rock bottom prices. And now savvy investors are buying real estateusing their IRAs that allows them to access their retirement funds to buyproperties without paying any penalties or early withdrawal fees. If you havefunds in your retirement account and you are interested to learn more callhorizon for us today at 866-712-2007. That's 866-712-2007 unlock the power ofyour retirement account and take advantage of one of the most profoundopportunities in real estate since the housing crisis 15 years ago, callhorizon trusts retirement specialist at 866-712-2007. And for a limited time,get our free Ultimate Guide to buying real estate with your IRA that's866-712-2007 or visit horizon trust calm slash date. Horizon Trust Company isan independent passive custodian and it's not associated or affiliated with anddoes not recommend promote or revise any specific investment investmentopportunity investment sponsor investment company or investment promoter or anyagents employees representatives or other such firms or entities arising fromthis not providing investment advice, advocating or endorsing real estate.These options may or may not be a fit for individual investors investments arenot FDIC insured, offer no back guarantee and may lose value or rising trustdoesn't receive any commissions or fees. If I invest with any other sponsor.You're listening to real estate revealed with Dave see more from Amy's flippingBoston. All right, welcome

 

Dave Seymour 32:01

back. Soyou heard from some of our sponsors they look you're looking for for a solidrealtor, somebody who can you know really identify what it is that you and yourfamily need for an acquisition they give my man Stevie palesa buzz he's workedfor me for many years, not for me, but with me as as our as our realtor ofchoice. 617-763-1001 you need a mortgage, you know where to go, George kudos978-777-4663 and retirement account self directed retirement accounts. What ifyou could take a portion of a retirement fund that that's available to you andgive it some velocity, you could do that by setting up an account with myfriends over at horizon trust 866712 to 007. It's not all or nothing in life,you can invest a portion of something in a real estate arena, rather than youknow, everything being in a stock market arena, which is as we know, has beenkicking butt recently. But the volatility keeps some people awake at night. Soanyway, I'm with my friend Pam bardy. Real Estate entrepreneur, underdogpodcast host Future Shock. Forbes real estate Council. I mean your HarvardBusiness School, been in Time magazine boston globe. Your footprint is is allover this landscape here in here in New England. But before we went to break,we were talking about COVID. So you shared some good stats at the break. Whydon't you open with that? What do you see is going to happen with with theCOVID landscape in real estate in 2021. Pam, what do you what do you think?

 

Pamela Bardhi 33:44

Thankyou, Dave. Yes, so so I was doing some research on this because I'm you know,strategically planning for my own, you know, what do I What should I focus onin the next three to five years? Right heavily? The brokerages is a developmentand here's what I found on the statistics. So did you know that $430 billionworth of commercial mortgages are due to mature in 2021? Did you know that?

 

Dave Seymour 34:09

I did notbillion 430 billion?

 

Pamela Bardhi 34:13

Yes.Wow. In the United States?

 

Dave Seymour 34:16

That's alot of opportunity. For sure. For sure.

 

Pamela Bardhi 34:21

Yes. Andthen would and then this is another stat that really shocked me 34% of Americanworkers are scared of not knowing who to turn to for investing advice.

 

Dave Seymour 34:32

That'sover really as much as a third of the country more than more than a third isconcerned and doesn't know where to go for investment. But why why can't theyjust go to the cookie cutter run of the mill certified financial planner isthat is that not an option or I you know, I've got I've got my own take onthat. You know, the financial planning world is a fantastic arena for for, youknow, average Try. It's It's, it's, it's the same. It's what my father did, andhis father did. So I'm gonna do it. And you know, it's that generationalinformation that's passed on. And that's where most people go. But really, it'sthat high harm more than a third of the nation doesn't know where to get goodinvestment advice.

 

35:20

That's,

 

Dave Seymour 35:21

that'spretty interesting. That's pretty interesting, that 430 billion in commercialloans. Is that is that across all asset classes, or is that what what's whatare the stats showing us on that?

 

Pamela Bardhi 35:35

So it'sacross all asset classes right now that they they looked at the totality of allof the mortgages, and it's like, you know, banks are in a very strict positionright now. So what's going to be happening to those assets? For example, youknow, COVID, the segue straight from the COVID conversation that COVID caused alot of these shifts. So industrial and multifamily are the two asset classesthat are continuing to appreciate almost at the same level industrials, alittle bit higher than then multifamily, and driven mostly by COVID, and thesuccess of Amazon, of course, and online, online e commerce, but you know, theother the other thing is multifamily, you know, multifamily is stayedconsistent, just consistently appreciating, and then you look at the officesector and the retail sector which are declining. So these commercial realestate portfolio holders in the office and retail arena have got to reinventthemselves, ASAP, because they're it's already not looking good for them. And,you know, with these loans, maturing this year, I don't know what's going tohappen to them, you know, with having empty storefronts, you know, without theproper cash flow, the proper reserves, I mean, I'm just you know, there's oneand Dave, you you know, this location? Well, because it's up in North Shore.But did you know that the revere movie theater showcase cinemas is turning intoan Amazon distribution facility?

 

Dave Seymour 36:56

No, Ididn't know that. I'm focused in Florida. That's, that's interesting. Yeah. Andwhat a large space that is. They were talking about the necco building overthere in revere for a while as well, the New England confection building overthere, and revere that was that was highlighted for an Amazon space as well. Isthat a done deal over at the cinema?

 

Pamela Bardhi 37:17

at thecinema? This is what I'm hearing that it's pretty confirmed, because if youthink about it, the parking is more than adequate. And, you know, all of the manytheaters inside the movie theater, you know, serves perfectly for warehousing.

 

Dave Seymour 37:29

So Iwonder, I wonder what the value of three decades six is 1224 hours, it's gonnalook like, right. And within a one mile, one and a half, two mile radius ofthat movie theater, you're already looking for deals in that marketplace,aren't you? I know you are.

 

Pamela Bardhi 37:48

Oh,absolutely. And now I'm looking at all these maturities. And I'm like, wow, alot of landlords are gonna be in trouble. You know, especially in an office andretail. But, you know, this has affected multifamily, not too much, but but forthe smaller landlords, they're hurting the model.

 

Dave Seymour 38:06

That'sit, you're hitting it the mom and pops, right. We talk about this regularly,you know, there are amateur real estate investors and professional real estateinvestors. And that's not a moral judgment. It's a business oversight, right.It's a, it's just a factual thing. You know, a lot of folks own real estate,especially up here in New England, you know, three, six is 12. And it's justokay, I bought that, because that's what we're supposed to do, they bought it20 years ago, or whatever the case may be, they refinanced it. And they'venever really managed it professionally. And that mom and pop is an opportunitythat you know, like you and I, we look for on a small scale on a large scale,to be able to help them when they can't make mortgage payments, help them whenthey've got tenant issues, help them when there's bad management that's rippingthem off. And we go in there and reposition these assets, we buy them at thenumbers that they're valued at, on the day of their cash flow, if you will,right, we buy on actual numbers we don't buy on pro formas. And then we're ableto go in there and help these folks get out of some of these, these prettyrough situations. Are you doing any specific marketing for those kinds ofproperties? Now, Pam? Or are you just using your regular outreach and your ownrealtors working, you know, working the streets, as to say, what are you doingto find these potential sellers?

 

Pamela Bardhi 39:28

Absolutely.So I actually just hired two people full time to this is all they're doing islead generation, because that's going to be critical in the next three to fiveyears. Because what I'm seeing, especially with these loans maturing and thenalso, you know, residential, you know, the mom and pops right, who arestruggling right now, because of they've got a large mortgage and they don'thave that many tenants and the tenants don't pay then they're pretty muchscrewed. So, you know, so basically, we got a whole lead generation team goingon that and you know, we're gonna be utilizing digital marketing, big time. Tocapture the most because social media is so huge, so we're actually going to bedoing lead generation through social media. And, and basically take it fromthere. I mean, the the, the biggest thing is to get the first meeting, right?That's that's the best thing course.

 

40:13

Of course,yeah,

 

Pamela Bardhi 40:14

70% of,of owners, they do business with the first person that they deal with in thereal estate world. Did you know that?

 

Dave Seymour 40:21

I didknow it. It's been a long time since I, since I sat down at a kitchen table orat that initial conversation, I kind of kind of miss it. But yeah, yeah, it'strue that it's the same old saying, usually, your first offer is your bestoffer. It's kind of under along that those lines. Yeah,

 

Pamela Bardhi 40:39

yeah.And I think what's really exciting Dave about, like, you know, freedomventures, and sort of what's coming is, you know, your fund has specialized ina specific asset class for a very long time and proven success rates, right.And I think that, you know, the classes that you target is really clearing,even with the pandemic, haven't really been a hard hit for you. But I thinkmore than ever, now, anyone who has the cash to do so should be investing itvery wisely, because of all the opportunity that's coming. You know, if youhave an asset that's underperforming for you and has a lot of equity in it, youknow, or even just something that you just should get off your books, becauseit's not performing the way that you want it. Like I would encourage everyoneto just sell right now keep your cash and get ready for what's coming. That'smy take. What do you think Dave?

 

Dave Seymour 41:26

No, I'mwith you. 100%, everybody that I speak to either at an institutional level or,you know, family office level, all the way down to the retail investor investwith us with their, you know, their self directed retirement accounts or their401 K's. Everybody I talked to says there's an immense amount of capital on thesidelines. And you know, the following you know, the the advice that you justgave, the real estate market is at its, its probably its highest point. Youknow, everybody says that the bubble burst, when you look over your shoulder,you don't know when it's happening, or when it's about to happen. But you know,without prices in the commercial and also in the in the residential arena,single family homes right now, you know, equity sitting in a property is is isa loser's bath, it's dead equity. Everybody says, you know, my house is worththis. So I've got all this equity with equity doesn't pay the bills, equitydoesn't help you sleep at night equity is dead capital. So you know, to be ableto get that capital out of real estate, because it's really the value is to thebank, it's the bank's home, it's not ours, we think we're homeowners, but thebank, you know, runs the show with it. But to be able to, for example, with us,and I know you're kind of similar in what you do with your investors, you know,in our fund, and we're able to take capital in like that, and we put it to workat what we call velocity, right? double digit targeted returns anywherebetween, you know, 810 12, sometimes even 14%, on some of the the assets thatwe put together. So, you know, it's it's always it's always interesting to seethe, the steps that an investor will take and and I know you've experienced it,well, as well, Pam, the steps that an investor will take to go across thatline, to go full circle with that conversation to then be able to hire theexperts to work their money for them. And you and I are the experts in the realestate world that we work that capital for our investors at a high rate ofreturn putting them in a position where they're either on a one deal wherethey're, you know, their ownership in the actual physical asset, or in our fundstructure, they own shares in the company, and the company owns the assets. Soso we got about a minute left before we get to another break, Pam, and I wantto wrap it up a little bit. But what are you working on right now? what'swhat's on your horizon? What are you doing when you go into the office today orworking from home? what's what's on your plate right now?

 

Pamela Bardhi 44:04

Absolutely.So right now, I've got two new construction projects that that I'm working on.So I'm going through the permitting process in Boston, which is always brutal.I, but I finished 10 units this year, which was huge. It was my highest year inthe development world condo conversions, single families, things like that. Sothat's been, you know, it's been a record breaking year for me on thedevelopment front as well as brokerage. So now for 2021. I'm really focusingand I'm saying you know, I don't want to get into risky investments, and youknow, on the development front, and unless I know, you know, sort of what'shappening with the market and that kind of thing. So I've only stick stuck tothese two new constructions because it's something I've already committed to soI've got that goal on the development front. And then also now just reallyramping up on the brokerage end of things. That's a huge thing for me isgetting this lead generation set up getting As the team building out the teambecause I know, you know, with these loans maturing and all this, you know, theaftermath of COVID it's going to be a pretty heavy hit to real estate ownersand you know, we just want to be ready so that that's what I'm gearing up for,

 

Dave Seymour 45:16

in myAllah bardi in the house, dropping the knowledge sharing the energy, Pam, ifsomebody wants to reach out to you, I know that you you have some, you know,consulting type work that you do you, you work with homeowners, you work withother real estate investors, if somebody wants to get a hold of Pam and and,you know, strike up a conversation in a relationship with you, how can they Howcan they connect with your Pam?

 

Pamela Bardhi 45:45

Absolutely.I would say LinkedIn is the best resource because you can see everything aboutme sort of before you even meet me, which is super fun. And then you canconnect with me directly on there. So my name on LinkedIn Pamela barty. Yay mela and last name, Bharti rhymes a party can't forget it. Ba r da.

 

Dave Seymour 46:05

thrhymes with party. You can't forget it. Pam, I really, really appreciate youdoing this with me. I think we need to schedule up another one of these radiospots sooner rather than later. I know there's so much more we could talkabout. Again. Thank you. I'll see you in Florida in a couple of weeks. Pambardy Moshe development group. And just Thank you. I appreciate you.

 

Pamela Bardhi 46:32

Thankyou, Dave, so much for having me. It was such an honor.

 

Dave Seymour 46:36

Allright, take care. All right.

 

Intro Voice Over  46:41

RealEstate revealed We'll be right back. Thinking of purchasing a new home secondhome or investment property or maybe refinancing to get a lower rate,consolidate debts dropped PMI or need to cash out to do home improvements.George kudos mortgage Officer of cross country mortgage and Danvers is just aloan officer you will need as Essex County's top loan officer with more than8000 past happy clients in over 30 years experience. George and his team willbe happy to assist you with rates the lowest in history Don't hesitate act nowyou may be able to save 1000s of dollars call George at 978-777-4663

 

Dave Seymour 47:20

you everwondered how to create cash flow outside of your job income or retirement plan?Have you considered large commercial real estate assets? Do you know what analternative investment strategy is with tune in for all the answers on my showreal estate revealed this is Dave siemer might recognize me from the hit TVshow flipping Boston. I'm also the CEO and co founder of freedom ventureinvestments to smarten up your real estate now by tuning in every Saturday forall investment details, visit us at info at freedom venture.com slash 104 pointnine call my team at 781-922-4418 Steve molestus

 

47:52

ofSolaris realty has intimate knowledge of the North Shore market with over adecade of experience and record of 300 real estate transactions when it's timeto buy or sell property. Give Steve a call directly at 617-763-1001 that's617-763-1001

 

Intro Voice Over  48:21

you'relistening to real estate revealed with Dave Seymour from flipping Boston realestate revealed this is the

 

Dave Seymour 48:28

theother side of real estate it's important to keep your house beautiful I get itit's a it's an investment of one nature or another but you know, real estaterevealed was designed to to bring the financial components of this business toyou the listener, you know a Saturday afternoon 2021. And you can see that it'sfunny. I'm a I am the direct correlation or I am the the common denominator ofthe five people I hang around with the most I learned that a long time ago is almostlike a personal development journey that I went on. And I think about theguests that I'm blessed to have on this show. Last week we had Matt Matt theRochus one of the one of the top short sale pre foreclosure loan modification.You know, bankruptcy attorneys right here on the North Shore. And this week, Imean Pamela Bharti is is an as an energy source and inspiration. And I thinkabout the people that I'm blessed to say our friends and mentors and you know,business associates with me today and it's an it's, it's a blessing to have tohave that in my life. And look, I bring that up for a couple of reasons. It'slike guy said to me one time he said Dave, you know if you if you want to ifyou want to soar with the Eagles, my friend, you might want to stop hanging outwith the turkeys. And you know, I kind of took it personal in the beginning.And then I thought about it and he said, Look, man, he said, Show me whosomebody gets their financial advice from. And I'll tell you what theirfinancial future looks like. And I never forgot those two those two sayingsright there and my challenge is always this a new year's resolution, you know,what are you going to do different is what this person said to me and I'll passthat along, you know, are you ecstatic with you know what the financiallandscape looks like for 2021 2345 I heard the the 25% rule from a financialadvisor this week and they said you know, to retire comfortably 25% of annualincome at the time of retirement is what most people would need to retire on.So you do the math, it averages out anywhere between four to $6 million dollarsand that's not even taking into consideration you know, the the rate ofinflation which as we know is redonkulous due to the amount of debt that we nowcarry in our nation so that there's there's challenges out there you know,challenges can be looked at one or two ways they can be looked at a point ofdevastation you know, and bury bury your head in the sand and Oh, my Oh myheavens, it's it's all over the skies falling Chicken Little or they are theycan be looked at as opportunities. And, you know, here at freedom ventureinvestments, we look at the the real estate landscape in conjunction with thefinancial landscape. And we see nothing but opportunities and Pam was was, shementioned a couple of things which are very pertinent to what we do. We buylarge commercial real estate assets, but we don't buy them in Boston. And thereason we don't buy them in Boston is because they're their value pays less ina cash flow structure than it does in other parts of the country. As we know,real estate up here in Boston is extremely expensive. I went into a into athree unit property two days ago with some some guys that I'm mentoring, andhelping out. And it was an absolute horror show of a property. It reminded meof some of the, you know, some of the drug infested areas that I dealt with inmy career as a firefighter, it was unpleasant to say the least it had beenabandoned. There have been squatters in there. And it was it was extremelychallenging. But it was a three unit property and revere, and it was $950,000for an uninhabited property that needed probably a half a million to 600,000 inrepairs to bring it up to standard to be a rental asset. So I'll let you in ona little secret for that 950,000, we're closing on an eight unit, a propertymeaning top draw high, high quality property eight unit for the same amount ofmoney in the Tampa market this month, that property is projected to offeranywhere between a 12 and a 13% quarterly distribution on the capital investedby our investors. It'll project over a five year to give what's called aninternal rate of return the value of money working over a five to seven yearhold anywhere between 20 and 22%. So my challenge for 2021 is, you know, do youhave lazy capital out there? Right? Could you maybe do something different bysimply picking up the phone and making an inquiry and talking to somebody hereat freedom venture investments, talk to one of our members, ask them what is whatdoes it look like? What do you What's that guy talking about on the radio, he'sgot a funny accent. But I kind of like what he's saying, you know, explore,explore, you know, if we keep on doing what we've been doing, we keep gettingwhat we've been getting, we know that. So I always go with that challenge. Andespecially now, especially now in 2021. You know, new governments with newregulations, attacking as retirement accounts that 401 K's at taxes are notgoing to go down. Ladies and gentlemen, I promise you, they will not go down, Ipromise you, they will go up. Every stimulus package that our government hasput out has changed the landscape for for inflation. every dollar we printreduces the value of the dollar and its buying capacity. And yet, you know, hishis retirement money, his investment opportunities, outpacing inflation. Sosome people say inflation is three and a half percent, some incredibly smartpeople from Harvard Business School. And economics might say that inflation isseven and a half up to 9%. Because some of the statistics that we read, don'tinclude the cost of food, you know, and it's not doom and gloom. It'sopportunity. It's choices. So we look at the buying power in the Florida marketwhere we are in Tampa. And we look at these these opportunities, and what theydo is they allow us to put our investors in the very, very best positionpossible. So here's how it works. Our investors are accredited investors only.accredited investor is determined by the Securities and Exchange Commission asan individual that earns $200,000 a year or more a family at 300,000 or amillion dollars in net worth. Now, that includes retirement accounts. So don'tdiscount yourself with that information. And an accredited investor that getsto look at what's called a ppm. And that's a private placement memorandum.Think of it as a as an intense business plan that talks about how we useinvestor capital, how we deploy on these various assets, and then how wereposition these properties to make them more valuable to any friend of mine inmy neighborhood here in Danvers, I was talking with him one day, and he said tome, Dave, dammit, down willya. And I said, we take we reposition assets, andthen I'm explaining and all of a sudden, you see the light go off, and Kevin'sKevin's brain. And he says to me, basically, what you're doing is the samething you did on the TV show flipping single family houses, only now you do itwith, you know, 40 to 150. unit apartment complexes, I sit Yeah, that's whatwe're doing. Because we don't over leverage, we only use 35% of investorcapital and our capital because we invest alongside our investors. And then 65%of the bank's money, that always puts us in a very, very strong cash flowposition. So my challenge to you is this is, is your cash flow scenario goingto improve this year? Or will it stagnate? Or will it decrease? And if it canapprove a targeted double digit returns? Well, who's responsible for that,right? We own everything in life, we own it all. we own our good decisions, weown our lots of good decisions. You know, that haircut you got in high school,you owned it, you chose it. So we own these decisions that we make. So we thinka lot about that, in everything that we do going forward. You can reach us atfreedom venture.com, I would prefer you go there first. Do some research on us.Take a look at some of the education that's there. There's copies of the of theradio show, a lot of the podcasts that I've done, the interviews that I'vedone, you can take a look at the deals in the pipeline, you can look at ourunderwriting, you can look at our targeted returns. If you like what you seethere, you can you know, just put in your information and one of our teammembers will reach out to you. If you're old school like me and you like topick up the phone and call us at 781-922-4418 tell the folks that answer thephone. Hey, I heard Dave and Pam on the radio show real estate revealed. I'dlike to learn more. I'd like to build a relationship have a conversation, see whatit looks like. A make 21 the best year for you and your family. 2020 has, asPam said caused a lot of reflection for a lot of people for a lot of differentreasons. I wonder how those restaurants are doing now. It's so sad to see whatwhat happened to as small businesses. If you have challenges in the real estateworld around finance, we can help you but you got to ask for that help. Soreach out to us 78192224418 freedom venture.com WWE dot freedom venture.com andwe're here to help we're here to help. I say this every week before we wrap uptake care of each other make those new year's resolutions let's stick to them.Right whether it's losing a couple of the Christmas pounds a friend of minesick COVID creates one of three things either a hunk a chunk or a drunk so Idon't drink so I was okay there. I put out a few pounds so i you know i iprobably fit under the under the chunk rather than the hunk category. Butcommit to something different this year. Look after yourself with coffee afamily take good care of the people around you. You've been listening to realestate reveal with Dave see more freedom venture investments. And next weekwe're bringing on as CIO and Chief Investment Officer at Walton Vicki to talkabout the latest property that I know we now have under contract are excited toshare that with you going forward take care and I look forward to sharing withyou next week.

 

Intro Voice Over  59:37

Anysecurities being offered are under an exemption provided by sec regulation Drule 506 c only accredited investors who meet the SEC regulation d 501.accredited investor accreditation standard form provides suitable verificationof accredited status may invest into these offers. Any historical performancedata represents past or past performance does not guarantee future results.Tune in again next Saturday at noon for real estate revealed hosted by DaveSeymour, the star of age loving Boston and CEO of freedom venture investmentsin Denver. The prior show was a paid program that does not express the views,opinions or beliefs of North Shore 1049 the station management its employees orstaff