Ignite GP: Building Funds and Vetting Operators in Real Estate with Eric Silverman | Ep180

Описание: Eric Silverman is the Managing Partner at Eastham Capital and a veteran investor with decades of experience across real estate, banking, and early-stage ventures. With six successful funds under his belt—and a seventh underway—Eric brings unmatched insight into distressed multifamily investments and a sharp eye for identifying high-performing operating partners across the country. His disciplined, value-driven approach has made Eastham a standout in the world of private real estate investing.

With a unique origin story rooted in family real estate, a contrarian outlook shaped by cycles of financial upheaval, and a hands-on understanding of property operations, Eric shares what it takes to navigate today’s evolving real estate landscape. In this episode, he discusses the art of timing a market without trying to time it, how Eastham builds alignment across LPs and operators, and why skin in the game matters more than ever.

In Today's Episode We Discuss:
00:01 – Intro to Eric Silverman & Eastham Capital
00:51 – Growing up in real estate and founding story
02:46 – Launching Fund I in 2007 before the financial crisis
03:43 – Fund I mechanics, size, and investor returns
05:03 – GP commitment and skin in the game
06:24 – Fund structure: Why Eastham chose LP over REIT
08:43 – Strategy evolution and staying in their lane
10:31 – Vetting operators and sourcing 300+ deals per quarter
12:12 – Fund life cycle and exit timing
13:26 – Renovation strategy and adding property value
14:23 – Current market conditions and deal flow slowdown
15:35 – Interest rate impacts and upcoming loan maturities
16:59 – Distress in the market and timing opportunities
17:40 – Opportunity vs. risk in Fund VII
18:38 – Aligning LPs, GPs, and operating partners
20:02 – Lessons from the RentGrow exit and investment timing
22:47 – Board insights from banking and cross-sector experience
23:50 – Common mistakes real estate operators make
25:15 – What keeps Eric motivated in the industry
27:21 – A surprising talent: memorizing digits of pi
28:07 – What’s ahead for Eastham Capital and Fund VII
29:35 – Economic indicators Eric watches closely
29:47 – LP misconceptions about real estate private equity
31:17 – A recent deal surprise (Chicago suburbs case study)
33:38 – Rising evictions and post-COVID rent challenges
34:43 – Markets Eastham avoids (California and West Coast)
35:50 – Underrated markets Eric likes now
37:16 – What makes a great property manager
38:13 – Book and thoughts on U.S.-China and AI risks
38:44 – Wrap-up and where to find Eric online

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