Episode 146 – Investing in Musicals w/ Matt “Broadway” Picheny

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Matt, and I met a few years back when we were starting to invest in apartments. Having the right network is critical and its important to grow with people. Make no mistake this type of investing is high risk high reward but it’s a whole lot of fun. When I build my base of cashflowing Class B and C apartments I will look to trophy assets like these.

You can invest as a partner in on all kinds of things… even Broadway shows!

Capitulation budget to produce the show (staff costs, set costs, etc)

$8-$10 million for a lower budget but this can go up to $20 million.
Recoupment schedule (assumptions on ticket prices and demand) – Hoping to get back money in 6 months and hoping to tour for a few years.
500-800k costs per week.
Leverage is low in comparison to real estate investing but this is a high risk!
4/5 shows don’t make it past initial run
Do it for fun and because you love the art!
But…
If a show is very popular you could be involved in the tour. Think of it of a phase 3 portion of some past assisted living and RV Park developments.
http://mjppg.com/about-us/

Erica Lynn Schwartz
Erica Lynn Schwartz is a Tony-nominated performing arts professional with a wide
variety of theatrical development and production experience.

Erica has over 15 years of experience in Live Entertainment including producing
Broadway shows.  Her Broadway producing debut was Neil LaBute’s Reasons To Be
Pretty (TONY, Drama Desk & Outer Critics Circle Nominations for Best Play) and she
is currently a co-Producer on Moulin Rouge! The Musical.  Erica has invested in several
shows including the smash-hit Hamilton and an international tour of Wicked.
Erica has worked on several Broadway shows including Wicked, The 25th Annual
Putnam County Spelling Bee, I Love You, You're Perfect, Now Change, Movin'
Out, Doubt, and Hairspray. She ran the licensing, booking and touring division of
Daryl Roth Theatrical Licensing, lead a $25.5 million capital campaign for MCC
Theater's newest complex and managed the reopening of Lincoln Center’s Alice Tully
Hall.
Erica is a graduate of Northwestern University where she holds the honor of being named
a Distinguished Alumnus in 2008. She is currently the General Manager for the Emerson
Colonial Theatre in Boston, Massachusetts, where she resides with her husband and their
two daughters.
For more information about Erica and Avalon Road Productions, please visit
www.avalonroad.net

Matt Picheny, PMP
Matt Picheny is the Managing Partner at MJP Property Group, a real estate investment
company. He has been involved in single family, multifamily & vacation rentals for over
13 years.

Matt has experience in property valuation, acquisition, new construction, rehab projects,
property leasing, management, financing and is a Fannie Mae approved buyer. With an
investment portfolio of over 1,350 units, he is primarily focused on acquiring and
repositioning multifamily communities.

As a PMI certified Project Management Professional, Matt has a proven track record of
delivering projects on budget, on schedule and at the highest quality standards. He is a
marketing veteran whose 20-year New York City career spanned several of the world’s
largest advertising agencies, producing award-winning projects for Fortune 500 clients
including Verizon, IBM, and Coca-Cola.
For more information about Matt and MJP Property Group, please visit www.mjppg.com

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