On Episode 39 of the Profits Over Wages Podcast we sit down with Emil Khodorkovsky. Emil immigrated from Russia to the US at the age of 10. He started at an entry-level position at a mortgage company, quickly advanced, and ultimately became a partner at the firm. During that time, he began investing in real estate through private trust deeds as well as the acquisition of performing and non-performing notes. In 2011 he started Forbix - establishing a commercial mortgage bank, a direct lending platform for private debt, and an acquisition and development arm - all under one roof.
He has vast knowledge in the areas of real estate finance, asset management, construction, and has acted as a court-appointed receiver for real estate properties in California. Clients value his advice in real estate related matters including 1031 exchanges, multi-family developments, CMBS financing, and FHA apartment and construction financing. It is his unique background in both lending and real estate investment that has proven to be invaluable to his clients.
On the lending side, Forbix has collectively been involved in over $3 billion of debt funding, providing permanent, bridge, construction, mezzanine, private debt financing, agency, CMBS, portfolio loans, and 35-40 year fixed loans for existing and new construction of multifamily properties. On the investment side, Forbix focuses on value-add deals, with ownership of over 1,000 units nationwide, 500 units under development, and another 400 units starting construction in the next couple years, with a total aggregate value of $250 million. Emil also founded a non-profit organization to foster entrepreneurship among kids.
On this episode we go in-depth about financing real estate projects, both commercial and residential, Emil talks about the growing pains of starting and growing a company and from a lenders perspective, Emil shares his thoughts on the current state of the real estate market.
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