20. Analyzing Deal Metrics & Unique Asset Classes with Left Field Investors Founder, Steve Suh
Steve Suh is one of the Founders of Left Field Investors. He is an ophthalmologist and the host of the Healthy Eyes 101 Podcast. Steve has invested in a broad range of passive syndications including multifamily and self-storage as well as some more unique assets like underperforming resorts, coffee farms and a Broadway show. In this episode, Steve talks about how he got started in real estate and syndications, what metrics are important to him when analyzing a deal and some of the unique asset classes he invests in.
Steve talks about his first syndication in an oil and gas well that didn’t work out. He then got into turnkey investing but had multiple property managers for one property and it was not passive enough for him. After he had a loan called through the due on sale clause, he decided that active investing was not for him and he made the change to passive syndications beginning with an investment in Puerto Rico.
Steve discusses the seminars he went to and how they helped him confirm that investing passively was his future. From there, he went on to invest in multifamily, self-storage, underperforming resorts, a wellness resort, coffee farm, ATM’s, a Broadway show and more. Steve talks about his desire to invest in interesting investments as a way to keep himself motivated and involved.
Steve talks about the LFI Deal Analyzer and how it helps him evaluate the risk in a syndication. Some of his favorite metrics are debt service coverage ratio, break even occupancy, rent growth, and exit cap rate. He also dives deep into IRR and IRR Partitioning - what it is and why it is important in analyzing a deal.
Steve also discusses investing in a Broadway show and how it’s been a good performer for him and an enjoyable investment to follow and how he expects the show to bounce back after the pandemic shut down Broadway.
Steve ends with his podcast recommendations and an inspiring take on investing and the quest to build wealth.
Podcasts he recommends:
The Real Estate Guys Radio Show
To connect with Steve you can email him at steve@leftfieldinvestors.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
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