Ep78: Joe Hepp: The Critical Difference Between Operators and Syndicators

Your Business – Your Next Level

In this episode of Your Business Your Next Level, I sit down with Joe Hepp, a seasoned commercial real estate professional with over $1 billion in transaction experience across income-producing properties like retail centers, apartments, industrial facilities, and offices. Joe brings two decades of real-world insight into how commercial real estate can serve as a smart alternative investment—when you know what to look for.

We discuss why understanding the difference between operators and syndicators matters, why many financial advisors steer clients away from real estate, and how to think critically before diving into opportunities. Joe also shares candid advice on evaluating operators, weathering market cycles, and why working with seasoned experts is essential to minimizing risk. Whether you’re new to alternative investments or looking to sharpen your portfolio strategy, this conversation is packed with clarity and actionable insights.

Key Takeaways:

Commercial Real Estate is a Powerful Alternative Asset: Direct ownership provides income, appreciation, tax benefits, and a hedge against inflation—when done correctly.

Operators vs. Syndicators Matters: True operators have skin in the game and operational expertise; syndicators often do not. Understand the difference before investing.

Cycles Separate the Professionals: It’s easy to look good in a boom. Real expertise is proven by surviving and thriving through market downturns.

Due Diligence is Non-Negotiable: Don’t let fear of missing out (FOMO) drive your investments. Take the time to understand the asset, the people, and the risks.

Financial Advisors Often Aren't Real Estate Experts: Many advisors discourage direct real estate investment simply because it falls outside their control or compensation model.

Timeline Summary:

[00:00] - Joe’s journey from finance and insurance into commercial real estate

[02:00] - Moving from Florida to Charlotte and joining Medalist Capital

[04:00] - State of the commercial real estate market today

[06:00] - Why uncertainty is causing many investors to sit on the sidelines

[08:00] - The importance of choosing seasoned operators—not chasing hype

[10:00] - Understanding syndications vs. true operators

[12:00] - Why direct real estate ownership outperforms REITs for some investors

[14:00] - The mindset shift needed around alternative investments

[16:00] - How Joe and his firm help investors access better capital structures

[19:00] - What Joe would tell his younger self about becoming a developer

[22:00] - Advice for anyone considering a future in commercial real estate

[25:00] - Closing thoughts: take the time to learn and align with your goals

Links & Resources:

https://www.linkedin.com/in/joseph-hepp-76464a6/