Working with Private Equity Partners with Mark Purtell and Joe Harriman, Ep. 508

Joe Harriman joined CTC in April 2006 as Operations Manager and Head of Investor Relations for CTC Alternative Strategies, Ltd. Prior to CTC, he spent several years in Institutional Client Services at Calyon Financial, and the Chicago Board of Trade. Since 2006 at CTC, he managed the operations of a multi-strategy proprietary trading company focused on global trading in equities, fixed income, and various derivatives. From 2017 to present, he served as COO of the Manager. In this capacity, he successfully formed two real estate funds acquiring over $500 million in multi-family real estate.  Mark Purtell joined CTC in June 2001 as a trading assistant and worked on the trading side of CTC until transitioning to Head of Real Estate Acquisitions and Development in 2020.  He split his time between trading and real estate with CTC since 2018. He expanded the network of operators to increase deal flow. He created the proprietary real estate model and is responsible for tracking existing deals in the portfolio and assisting in quarterly reporting. Since 2002, he has been active in the Chicago market for his own account with a focus on multifamily investments. He received a B.S in Finance from the University of Illinois in 2001. He holds Series 4, 7, 24 and 57 licenses. In our conversation with Joe and Mark we talked about their company “CTC Wealth Management”, the co-gp model, what to look for in a deal, how to prepare yourself for the future based on the economic changes, pref equity, and how to approach your deal structures. Announcement: Download Our Sample Deal and Join Our Mailing List Wealth Management 00:00 CTC Wealth Management | The Co-GP model; 06:31 What to look for in a deal and an operator to partner up with; 08:19 How to prepare yourself for the future based on the economic changes; 10:18 Pref equity; 14:27 How to approach your deal structures; 16:47 The fear of losing control & protecting yourself as an operator; 21:52 Key decisions - expectations.     23:54 Round of Insights Apparent Failure: Having longer-term debt in projects Digital Resource: Excel Most Recommended Book: Life 3.0 Daily Habit: Daily meetings #1 Insight for deciding which multifamily deals to invest in:  Find the project that works for you. Best Place to Grab a Bite in Chicago:  Pequod's Pizza and Portillo's     Contact Mark & Joe: To learn more go to ctcwealthmanagement.com     Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW,  and be sure to hit that subscribe button so you do not miss an episode.