Podcast appearances and mentions of ben fraser

A very special episode – Bob Fraser, co-founder of Aspen Funds (and father of Ben Fraser) is in the hot seat. Bob tells the story of how he has won it all, lost it all, and built it back up again. We go inside Bob's portfolio to hear what asset classes he's most excited about today, and what lessons he has learned from his decades of investing that are preparing him to weather the storms of the future.Find out more at https://www.thebillionairepodcast.com/Check out Ben & Bob's company and invest along at https://aspenfunds.us/

You built the business. You cashed out. Now what?Most founders think they need to “reinvest everything” or go chase the next big thing. But in this episode of Beyond 8 Figures, I sit down with Ben Fraser of Aspen Funds to break down how to invest after selling a business — the right way.Ben's been inside this game since the last recession. He watched his father build Aspen Funds from scratch after the 2008 crash, and he's since helped scale it into a multi-million-dollar platform that helps entrepreneurs invest passively (and intelligently).We talk about why entrepreneurs make terrible investors, how billionaires actually diversify, and the overlooked tax strategy that could save you six figures. If you're still betting everything on your business — or worse, sitting on cash and hoping for the best — this episode will shift your mindset.Guest Introduction:Ben Fraser is the Chief Investment Officer at Aspen Funds and co-host of the Invest Like a Billionaire podcast, where he helps high-performing entrepreneurs grow and protect their wealth through smarter, passive investments. With a background in commercial lending and institutional asset management, Ben has overseen $125M+ in real estate and business loans. Today, he specializes in guiding business owners toward alternative investment strategies that prioritize stability, cash flow, and long-term growth—without adding complexity to their lives.Key Takeaways & Timestamps:[05:37] The One-Liner That Changes Everything – “Wealth is created through concentration, but preserved through diversification.”[06:38] How Billionaires Really Diversify – Ben reveals the Tiger 21 portfolio breakdown and how to use it.[14:35] Unlocking Tax Loopholes Most Entrepreneurs Miss – What happens when your spouse qualifies as a real estate professional.[15:36] Why One Founder Quit a 6-Figure Job to Save More – Ben shares a story that'll make you rethink W-2s.[19:47] Where the Smart Money Is Moving in 2025 – Ben's macro-driven view of real estate (and what KKR just did).The next big move in your business might start with a conversation.If you've been thinking about leveling up, shifting directions, or preparing for a future exit, A.J. offers strategic support for entrepreneurs at a crossroads. No pitch—just a chance to explore what's possible. 

On this week's episode of Inside Athletic Training, we sat down with tPadres' assistant athletic trainer Ben Fraser to talk about his career in baseball, Opening Day in Major League Baseball, the grind of Spring Training, building a successful sports medicine staff, career moves throughout baseball, advice for younger athletic trainers, and much more. For more information about PBATS and athletic training, visit pbats.com.

In this episode of the Addict II Athlete podcast, Coach Blu Robinson speaks with father, athlete, and coach of the Speed Freaks Ben Fraser, who shares his inspiring journey from addiction to recovery. Ben discusses the importance of community, the power of positive self-affirmations, and the transformative effects of movement and running. He reflects on the challenges of leaving behind old relationships and the significance of finding a supportive network in recovery. The conversation emphasizes the importance of self-identity and the journey of personal growth through connection and action. In this conversation, Ben Fraser and Coach Blu explore the transformative journey of recovery through community engagement, the power of gratitude, and the importance of visibility in addiction recovery. They discuss personal milestones in running, the significance of fatherhood, and the balance between pursuing personal goals and being present for loved ones. The dialogue emphasizes the strength of vulnerability and connection, showcasing how shared experiences can inspire hope and change in individuals and communities. Takeaways The 'I am' statements we use shape our identity. Finding a supportive community is crucial in recovery. Movement can be a powerful tool for healing. Small, achievable goals can lead to significant change. Isolation can be a significant barrier to recovery. Building new relationships can be challenging but rewarding. Reflecting on past struggles helps recognize progress. Recovery is a journey that involves both giving and receiving support. Positive self-talk can transform one's outlook on life. Choosing oneself is essential for personal growth.  Consistency is key to recovery and personal growth. Gratitude evolves from external to internal appreciation. Community support can transform perceptions of addiction. Visibility in recovery helps break down stigma. Personal milestones in the running can symbolize broader achievements. Fatherhood brings a new perspective on recovery and legacy. Chasing achievable goals fosters a balanced life. Vulnerability fosters deeper connections and understanding. Everyone has a unique story that can inspire others. Recovery is a journey best shared with others. Follow Ben: https://www.instagram.com/benny_b_fraser/profilecard/?igsh=a3A3Mm11OWk2a3Bt Follow the Speed Freaks: https://www.instagram.com/the_speed_freaks?igsh=MTBtb3c5dWd1dzBzeQ== Please join Addict to Athlete's Patreon support page and help us turn the mess of addiction into the message of sobriety! https://www.patreon.com/addicttoathlete Please visit our website for more information on Team Addict to Athlete and Addiction Recovery Podcasts. https://www.AddictToAthlete.org Join the Team! Circle, our new social support event, along with the team and athlete communication platform, is designed to help us break free from doom scrolling and shadow banning and foster stronger connections among us. Follow the link, download the app, and start this new chapter of Team AIIA! Join Circle https://a2a.circle.so/join?invitation_token=16daaa0d9ecd7421d384dd05a461464ce149cc9e-63d4aa30-1a67-4120-ae12-124791dfb519

In this episode, Thomas and Ryan are joined by Ben Fraser, Chief Investment Officer of Aspen Funds and host of the Invest Like a Billionaire podcast, to explore strategies of the ultra-wealthy and how they invest differently. They cover: - The difference between ultra-high-net-worth investors and retail investors - Why private markets, including real estate and private equity, are the cornerstone of billionaire investment strategies - The trade-offs between active and passive real estate investing - Key insights on evaluating sponsors and deals to avoid common pitfalls - Emerging trends in the alternative investment space - And much more! If you're curious about how the wealthiest individuals protect and grow their capital—and how you can apply those strategies—this episode is full of actionable insights. To become a client, request a consultation from Hall CPA, PLLC at go.therealestatecpa.com/3KSEev6 Join the Tax Smart Insiders Community: go.therealestatecpa.com/3Xx1Cpd Visit PURE at: www.rentpure.com Check out Thomas's new YouTube channel: www.youtube.com/@thomascastelli The Tax Smart Real Estate Investors podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

Mark Kohler and Ben Fraser discuss tax strategies, asset protection, and the political landscape's impact on small businesses. They also touch on efficient business structures like the S corporation, the importance of revocable living trusts in estate planning, and the power of Roth IRAs for building tax-free wealth. Mark is the founder and board member at Direct IRA and Senior Partner at KKOS Lawyers. This podcast is sponsored by Aspen Funds. Alternative investments in Private Credit, Industrial Real Estate, and Oil and Gas: ⁠⁠⁠https://aspenfunds.us/⁠⁠⁠ Check out our latest offering in industrial real estate: ⁠⁠⁠https://app.junipersquare.com/i/aspenfunds/offering/1bdbcf6a-da16-4e65-a675-31909415300a⁠⁠⁠ Explore our Private Credit fund: ⁠⁠⁠https://aspenfunds.us/private-credit-fund/⁠⁠⁠ Get in touch: ⁠⁠⁠https://meetings.hubspot.com/mike-sullivant/ilab-speak-to-aspen-representative-⁠⁠⁠ Download our FREE 2024 Economic Forecast: ⁠⁠⁠https://www.investwithaspen.com/free-economic-report⁠⁠⁠ Follow Aspen Funds LinkedIn: ⁠⁠⁠https://www.linkedin.com/company/aspen-funds/⁠⁠⁠ ⁠⁠ Instagram: ⁠⁠⁠https://www.instagram.com/aspenfunds/⁠⁠⁠ Facebook: ⁠⁠⁠https://www.facebook.com/aspenfunds/⁠⁠⁠ Connect with Ben Fraser ⁠⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠⁠ Connect with Mark Kohler https://www.linkedin.com/in/markjkohler/

Steven Pesavento, Principal at Von Finch Capital, shares his journey in real estate, emphasizing mindset, financial strategy, and self-investment. We explore current market opportunities in multifamily real estate and private credit amidst economic shifts. This podcast is sponsored by Aspen Funds. Alternative investments in Private Credit, Industrial Real Estate, and Oil and Gas: ⁠⁠https://aspenfunds.us/⁠⁠ Check out our latest offering in industrial real estate: ⁠⁠https://app.junipersquare.com/i/aspenfunds/offering/1bdbcf6a-da16-4e65-a675-31909415300a⁠⁠ Explore our Private Credit fund: ⁠⁠https://aspenfunds.us/private-credit-fund/⁠⁠ Get in touch: ⁠⁠https://meetings.hubspot.com/mike-sullivant/ilab-speak-to-aspen-representative-⁠⁠ Download our FREE 2024 Economic Forecast: ⁠⁠https://www.investwithaspen.com/free-economic-report⁠⁠ Follow Aspen Funds LinkedIn: ⁠⁠https://www.linkedin.com/company/aspen-funds/⁠⁠ ⁠⁠ Instagram: ⁠⁠https://www.instagram.com/aspenfunds/⁠⁠ Facebook: ⁠⁠https://www.facebook.com/aspenfunds/⁠⁠ Connect with Ben Fraser ⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠ Connect with Steven Pesavento https://www.linkedin.com/in/stevenpesavento/

This conversation with Brett Swarts explores the numerous benefits of DSTs, their role in deferring capital gains taxes beyond real estate transactions, and practical examples of people who have successfully applied this strategy. This podcast is sponsored by Aspen Funds. Alternative investments in Private Credit, Industrial Real Estate, and Oil and Gas: ⁠https://aspenfunds.us/⁠ Check out our latest offering in industrial real estate: ⁠https://app.junipersquare.com/i/aspenfunds/offering/1bdbcf6a-da16-4e65-a675-31909415300a⁠ Explore our Private Credit fund: ⁠https://aspenfunds.us/private-credit-fund/⁠ Get in touch: ⁠https://meetings.hubspot.com/mike-sullivant/ilab-speak-to-aspen-representative-⁠ Download our FREE 2024 Economic Forecast: ⁠https://www.investwithaspen.com/free-economic-report⁠ Follow Aspen Funds LinkedIn: ⁠https://www.linkedin.com/company/aspen-funds/⁠ ⁠⁠ Instagram: ⁠https://www.instagram.com/aspenfunds/⁠ Facebook: ⁠https://www.facebook.com/aspenfunds/⁠ Connect with Ben Fraser ⁠https://www.linkedin.com/in/benwfraser/⁠ Connect with Brett Swarts https://www.linkedin.com/in/brett-swarts/

We discuss how Ownify's model allows first-time buyers to gradually purchase homes through fractional ownership, bypassing traditional mortgage hurdles. This podcast is sponsored by Aspen Funds. Alternative investments in Private Credit, Industrial Real Estate, and Oil and Gas: https://aspenfunds.us/ Check out our latest offering in industrial real estate: https://app.junipersquare.com/i/aspenfunds/offering/1bdbcf6a-da16-4e65-a675-31909415300a Explore our Private Credit fund: https://aspenfunds.us/private-credit-fund/ Get in touch: https://meetings.hubspot.com/mike-sullivant/ilab-speak-to-aspen-representative- Download our FREE 2024 Economic Forecast: https://www.investwithaspen.com/free-economic-report Follow Aspen Funds LinkedIn: https://www.linkedin.com/company/aspen-funds/ ⁠⁠ Instagram: https://www.instagram.com/aspenfunds/ Facebook: https://www.facebook.com/aspenfunds/ Connect with Ben Fraser https://www.linkedin.com/in/benwfraser/ Connect with Frank Rohde https://www.linkedin.com/in/frankrohde/

Ryan Carriere, co-host of the Tax Smart REI podcast and a Real Estate Tax Strategist at Hall CPA, explains the advantages and intricacies of real estate professional status and the short-term rental 'loophole,' highlighting strategies for both active and passive investors to optimize tax efficiency. This podcast is sponsored by Aspen Funds. Alternative investments in Private Credit, Industrial Real Estate, and Oil and Gas: ⁠⁠https://aspenfunds.us/⁠⁠   Check out our latest offering in industrial real estate: ⁠⁠https://app.junipersquare.com/i/aspenfunds/offering/1bdbcf6a-da16-4e65-a675-31909415300a⁠⁠   Explore our Private Credit fund: ⁠⁠https://aspenfunds.us/private-credit-fund/⁠⁠  Get in touch: ⁠⁠https://meetings.hubspot.com/mike-sullivant/ilab-speak-to-aspen-representative-⁠⁠  Download our FREE 2024 Economic Forecast: ⁠⁠https://www.investwithaspen.com/free-economic-report⁠⁠ Follow Aspen Funds LinkedIn: ⁠⁠https://www.linkedin.com/company/aspen-funds/⁠ ⁠ ⁠⁠ Instagram: ⁠⁠https://www.instagram.com/aspenfunds/⁠⁠  Facebook: ⁠⁠https://www.facebook.com/aspenfunds/⁠ ⁠ Connect with Ben Fraser ⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠  Connect with Mark Miller https://www.linkedin.com/in/ryancarriere/

Mark Miller, President and CEO of Hilton Tax and Wealth Advisors, shares insights on the wealth management strategies employed by the ultra-wealthy, including the famous Hilton family. He explains how these strategies can be now adopted by average investors. This podcast is sponsored by Aspen Funds. Alternative investments in Private Credit, Industrial Real Estate, and Oil and Gas: ⁠https://aspenfunds.us/⁠   Check out our latest offering in industrial real estate: ⁠https://app.junipersquare.com/i/aspenfunds/offering/1bdbcf6a-da16-4e65-a675-31909415300a⁠   Explore our Private Credit fund: ⁠https://aspenfunds.us/private-credit-fund/⁠  Get in touch: ⁠https://meetings.hubspot.com/mike-sullivant/ilab-speak-to-aspen-representative-⁠  Download our FREE 2024 Economic Forecast: ⁠https://www.investwithaspen.com/free-economic-report⁠ Follow Aspen Funds LinkedIn: ⁠https://www.linkedin.com/company/aspen-funds/ ⁠ ⁠⁠ Instagram: ⁠https://www.instagram.com/aspenfunds/⁠  Facebook: ⁠https://www.facebook.com/aspenfunds/ ⁠ Connect with Ben Fraser ⁠https://www.linkedin.com/in/benwfraser/⁠  Connect with Mark Miller ⁠https://www.linkedin.com/in/markmiller-hiltonfo/⁠

Welcome back to another episode of The Richer Geek Podcast. Today, we have Ben Fraser, CIO of Aspen Funds, discussing their unique approach to investing. Aspen Funds focuses on "Macro-Driven Alternative Investments," leveraging macro trends to identify opportunities across various asset classes. In this episode, we're discussing... Aspen Funds leverages macro trends: They analyze the big picture to identify long-term tailwinds and invest in asset classes positioned to benefit. Investment diversification: They invest in a variety of asset classes including real estate debt, private credit, industrial development, and oil & gas. Oil & Gas as an Opportunity: While the current administration prioritizes renewable energy, Ben Fraser argues that limited supply and increasing demand will drive oil prices higher in the coming years. Impact of Inflation & Interest Rates: Ben discusses the potential for higher interest rates for longer and the implications for commercial real estate. Investing During Uncertain Times: While the market may be volatile, downturns can present opportunities for investors with a long-term perspective. Resources from Ben LinkedIn | Aspen Funds | Invest Like A Billionaire Podcast Resources from Mike and Nichole Gateway Private Equity Group |  Nic's guide  

Have you ever wondered how billionaires are investing to grow their wealth in 2024? In this episode, Russ and Joey are joined by Ben Fraser of Aspen Funds to explore the world of alternative investments and the strategies that the ultra-wealthy use to stay ahead. From little-known opportunities to smart, risk-adjusted moves, this conversation will open your eyes to how the wealthy think and invest differently. If you want to elevate your financial game and tap into strategies beyond the traditional, today's episode is packed with insights that could transform your approach.Tune in to discover the secrets to growing wealth like the ultra-rich!Top three things you will learn: -Alternative investment opportunities to build passive income-The top two indicators that a deal is not as good as it seems-How the election can affect market trendsAbout Our Guest:Ben Fraser is the Chief Investment Officer at Aspen Funds, where he combines his analytical nature with a passion for delivering outstanding client service and strong returns through out-of-the-box investments. With a professional background that spans over a decade, Ben has become an expert in the field of investment management and has worked for several reputable financial institutions.Ben is the co-host of the Invest Like a Billionaire podcast, where he joins his father, Robert, co-founder and CFO of Aspen Funds, and co-founder Jim Maffuccio to discuss economic trends and best practices for alternative investing.Connect with Ben Fraser:-Website - https://aspenfunds.us/Wealth Without Wall Street New Book:https://wealthwithoutwallstreet.com/newbookFree IBCA or Financial Freedom Discovery Calls:https://wealthwithoutwallstreet.com/freecallJoin Our Next Inner Circle Live Event:https://www.wealthwithoutwallstreet.com/livePromo Code: PODCASTIBC Webinar:https://wealthwithoutwallstreet.com/ibcApply to Join the Passive Income Mastermind:https://wealthwithoutwallstreet.com/wwws-passive-income-mastermindJoin the Community:https://wealthwithoutwallstreet.com/communityTurn Active Income Into Passive Income:https://wealthwithoutwallstreet.com/pios Take the Financial Freedom Analyzer:https://wealthwithoutwallstreet.com/quizDiscover Your Path to Financial Freedom:

We discuss why you should strongly consider self-insuring your business by leveraging the often-overlooked 831(b) tax code. Van Carlson, a risk management expert with 30 years of experience and Founder of SRA 831(b) Admin. This podcast is sponsored by Aspen Funds. Alternative investments in Private Credit, Industrial Real Estate, and Oil and Gas: https://aspenfunds.us/   Check out our latest offering in industrial real estate: https://app.junipersquare.com/i/aspenfunds/offering/1bdbcf6a-da16-4e65-a675-31909415300a   Explore our Private Credit fund: https://aspenfunds.us/private-credit-fund/  Get in touch: https://meetings.hubspot.com/mike-sullivant/ilab-speak-to-aspen-representative-  Download our FREE 2024 Economic Forecast: https://www.investwithaspen.com/free-economic-report Follow Aspen Funds LinkedIn: https://www.linkedin.com/company/aspen-funds/  ⁠⁠ Instagram: https://www.instagram.com/aspenfunds/  Facebook: https://www.facebook.com/aspenfunds/  Connect with Ben Fraser https://www.linkedin.com/in/benwfraser/  Connect with Van Carlson https://www.linkedin.com/in/vancarlson/

Schedule a call with us: ⁠https://meetings.hubspot.com/mike-sullivant/ilab-speak-to-aspen-representative-⁠ Paul Svensen, CEO and Founder of UberJets, a platform designed to democratize private aviation access, explains how Uber Jets leverages advanced technology and empty-leg flights to offer a pay-as-you-fly model. This approach makes private jets more accessible to a wider audience. Paul discusses the business model, the benefits for aircraft owners, and how the platform is challenging traditional fractional ownership models. This podcast is sponsored by Aspen Funds, focusing on Private Credit, Industrial Real Estate, and Oil and Gas offerings for accredited investors: ⁠https://aspenfunds.us/⁠ Explore our latest investment opportunity in industrial real estate: ⁠https://app.junipersquare.com/i/aspenfunds/offering/1bdbcf6a-da16-4e65-a675-31909415300a⁠  Explore our latest investment opportunity in Private Credit: ⁠https://aspenfunds.us/private-credit-fund/⁠ ⁠⁠Get our FREE 2024 Economic Forecast: ⁠https://www.investwithaspen.com/free-economic-report⁠ Follow Aspen Funds LinkedIn: ⁠https://www.linkedin.com/company/aspen-funds/⁠  ⁠⁠ Instagram: ⁠https://www.instagram.com/aspenfunds/⁠  Facebook: ⁠https://www.facebook.com/aspenfunds/⁠  Connect with Ben Fraser on LinkedIn ⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠ Connect with Paul Svensen on LinkedIn ⁠https://www.linkedin.com/in/paul-a-s-55b5008/

Schedule a call with us: https://meetings.hubspot.com/mike-sullivant/ilab-speak-to-aspen-representative- Joey Mure, Co-Founder of Wealth Without Wall Street, discusses his journey from the corporate world to achieving financial freedom through passive income. He shares insights on the limitations of traditional investment strategies like 401(k)s and the benefits of creating cash flow through alternative investments. This podcast is sponsored by Aspen Funds, focusing on Private Credit, Industrial Real Estate, and Oil and Gas offerings for accredited investors: https://aspenfunds.us/ Explore our latest investment opportunity in industrial real estate: https://app.junipersquare.com/i/aspenfunds/offering/1bdbcf6a-da16-4e65-a675-31909415300a  Explore our latest investment opportunity in Private Credit: https://aspenfunds.us/private-credit-fund/ Get our FREE 2024 Economic Forecast: https://www.investwithaspen.com/free-economic-report Follow Aspen Funds LinkedIn: https://www.linkedin.com/company/aspen-funds/  ⁠⁠ Instagram: https://www.instagram.com/aspenfunds/  Facebook: https://www.facebook.com/aspenfunds/  Connect with Ben Fraser on LinkedIn ⁠https://www.linkedin.com/in/benwfraser/⁠Connect with Joey Mure on LinkedIn https://www.linkedin.com/in/joey-mure-b376824/⁠

Schedule a call with us: ⁠https://meetings.hubspot.com/mike-sullivant/ilab-speak-to-aspen-representative-⁠ Bob and Ben present compelling data from Newmark Zimmer showing significant increases in construction and job announcements in the US. They discuss the long-term mega trends affecting industrial assets, the shift towards secondary and tertiary markets, and the upcoming opportunities for investors. Get our FREE 2024 Economic Forecast: ⁠https://www.investwithaspen.com/free-economic-report⁠ Interested in our upcoming industrial real estate offering? Get notified first: ⁠https://share.hsforms.com/1JdTr6KMMR0-YKumCXZEa4Adir9h⁠ Explore our latest investment opportunity in Private Credit: ⁠https://aspenfunds.us/private-credit-fund/⁠ This podcast is sponsored by Aspen Funds which focuses on Private Credit, Industrial Real Estate, and Oil and Gas offerings for accredited investors: ⁠https://aspenfunds.us/⁠  Follow Aspen Funds LinkedIn: ⁠https://www.linkedin.com/company/aspen-funds/⁠  ⁠⁠ Instagram: ⁠https://www.instagram.com/aspenfunds/⁠  Facebook: ⁠https://www.facebook.com/aspenfunds/⁠  Connect with Bob Fraser on LinkedIn ⁠https://www.linkedin.com/in/bobfraser10/ Connect with Ben Fraser on LinkedIn ⁠https://www.linkedin.com/in/benwfraser/⁠

Schedule a call with us: https://meetings.hubspot.com/mike-sullivant/ilab-speak-to-aspen-representative- Pat Zingarella, a former corporate tech business consultant and startup advisor and Founder of Invest Clearly, recounts his transition from corporate America to entrepreneurship, inspired by his own investment challenges. He discusses the key features of Invest Clearly, how it serves both LPs and GPs, and its mission to foster transparency and trust in the investment world. Get our FREE 2024 Economic Forecast: https://www.investwithaspen.com/free-economic-report Interested in our upcoming industrial real estate offering? Get notified first: https://share.hsforms.com/1JdTr6KMMR0-YKumCXZEa4Adir9h Explore our latest investment opportunity in Private Credit: https://aspenfunds.us/private-credit-fund/ This podcast is sponsored by Aspen Funds which focuses on Private Credit, Industrial Real Estate, and Oil and Gas offerings for accredited investors: https://aspenfunds.us/  Follow Aspen Funds LinkedIn: https://www.linkedin.com/company/aspen-funds/  ⁠⁠ Instagram: https://www.instagram.com/aspenfunds/  Facebook: https://www.facebook.com/aspenfunds/  Connect with Ben Fraser on LinkedIn https://www.linkedin.com/in/benwfraser/ Connect with Pat Zingarella on LinkedIn https://www.linkedin.com/in/pasqualezingarella/

Mike "C-Roc" engages in a fascinating conversation with Ben Fraser, the Chief Investment Officer at Aspen Funds and co-host of the renowned podcast Invest Like a Billionaire. Ben delves into his journey from commercial banking to leading a successful investment firm, highlighting the critical role of personal branding in the financial industry. He sheds light on the challenges associated with raising capital, including overcoming trust barriers and navigating the complexities of traditional financial advising. Listeners will gain valuable insights into alternative investment opportunities and learn how Ben's experiences in commercial real estate, credit lending, and oil and gas have shaped his approach to investing. Ben emphasizes the significance of persistence and grit, offering practical advice on how to take control of one's financial future. With a robust background in commercial banking and asset management, Ben is dedicated to helping investors navigate the intricate world of finance. Website- https://aspenfunds.us/ Social Media Links/Handles- https://www.facebook.com/aspenfunds/ https://www.instagram.com/aspenfunds/ https://www.linkedin.com/company/aspen-funds/ https://www.youtube.com/@aspenfunds https://www.youtube.com/@investlikeabillionairepodcast

Investor, get notified first when our industrial deal launches: https://share.hsforms.com/1JdTr6KMMR0-YKumCXZEa4Adir9h This is not a commitment, just a way to give you exclusivity once we launch. This episode is a masterclass on industrial real estate with Ben Fraser, CIO of Aspen Funds and Brent Peterson, VP - Director of Industrial Brokerage at AREA. We discuss how to find the best industrial real estate investments in 2024, and much more. Interested in our upcoming industrial real estate deal? Get notified first: https://share.hsforms.com/1JdTr6KMMR0-YKumCXZEa4Adir9h Get our FREE 2024 Economic Forecast: https://www.investwithaspen.com/free-economic-report This podcast is sponsored by Aspen Funds which focuses on Private Credit, Industrial Real Estate, and Oil and Gas offerings for accredited investors: https://aspenfunds.us/ Follow Aspen Funds LinkedIn: https://www.linkedin.com/company/aspen-funds/ ⁠⁠ Instagram: https://www.instagram.com/aspenfunds/ Facebook: https://www.facebook.com/aspenfunds/ Connect with Ben Fraser on LinkedIn ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Connect with Brent Peterson on LinkedIn https://www.linkedin.com/in/brent-peterson-6944a510/

Kathy Fettke, a renowned real estate investment expert and co-founder of the Real Wealth Network, shares her inspiring journey from being a housewife to becoming a successful investor. She highlights the crucial role of asset ownership, macroeconomic trends, the housing market, and the Federal Reserve's interest rate policies. Explore our latest investment opportunity in Private Credit: ⁠⁠https://aspenfunds.us/private-credit-fund/⁠⁠ Access our FREE Economic Report: ⁠⁠⁠⁠⁠https://www.investwithaspen.com/free-economic-report⁠⁠⁠⁠⁠ This podcast is sponsored by Aspen Funds which focuses on Private Credit, Industrial Real Estate, and Oil and Gas offerings for accredited investors: ⁠⁠⁠⁠⁠https://aspenfunds.us/⁠⁠⁠⁠⁠ Follow Aspen Funds LinkedIn: https://www.linkedin.com/company/aspen-funds/ ⁠⁠ Instagram: https://www.instagram.com/aspenfunds/ Facebook: https://www.facebook.com/aspenfunds/ Connect with Ben Fraser on LinkedIn ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Connect with Kathy Fettke on LinkedIn https://www.linkedin.com/in/kathyfettke/

Travis Watts, an experienced full-time passive investor and the Director of Investor Development at Ashcroft Capital, discusses his path from single-family investments to syndications. With over 50 deals since 2015, he shares his expertise and key insights from his new book 'Passive Investor Tips'. Connect with Ben Fraser on LinkedIn ⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠⁠⁠⁠⁠⁠⁠ Connect with Travis Watts on LinkedIn https://www.linkedin.com/in/traviswatts1234/ Explore our latest investment opportunity in Private Credit: ⁠https://aspenfunds.us/private-credit-fund/⁠ Access our FREE Economic Report: ⁠⁠⁠⁠https://www.investwithaspen.com/free-economic-report⁠⁠⁠⁠ This podcast is sponsored by Aspen Funds which focuses on Private Credit, Industrial Real Estate, and Oil and Gas offerings for accredited investors: ⁠⁠⁠⁠https://aspenfunds.us/⁠⁠⁠⁠ Follow Aspen Funds LinkedIn: ⁠⁠⁠https://www.linkedin.com/company/aspen-funds/⁠⁠⁠ Instagram: ⁠⁠⁠⁠https://www.instagram.com/aspenfunds/⁠⁠⁠

The real estate business is not entirely about the housing market. In this episode, we talk about industrial real estate, oil and gas, bringing US companies back home, or what's known as “reshoring,” and of course, the housing market. But the conversation goes beyond that with talk of economic trends, investment strategies, and our recent RealWealth property tour in San Antonio where investors can get a 4.25% interest rate from the builder. In this episode, you'll hear from investor and commercial lender Ben Fraser. He has more than a decade of experience in the mortgage business and is the Chief Investment Officer at Aspen Funds, which was co-founded by his father. Before that, Ben served as a commercial lender at First Business Bank and a commercial credit underwriter for Crossfirst Bank. He's also a seasoned podcaster, and co-hosts the show “Invest Like a Billionaire” with his Dad and his Dad's Aspen co-founder. ~~~~ JOIN RealWealth® FOR FREE

With 15 years of experience in private syndications, Steve Suh, Founding Member of Left Field Investors, reveals lessons in his book, "Avoiding Rookie Errors as a Left Field Investor." He highlights the value of operator communication, thorough due diligence, and investing in reliable asset classes, providing essential tips for all investors. Connect with Ben Fraser on LinkedIn ⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠⁠⁠⁠⁠⁠ Connect with Steve Suh on LinkedIn https://www.linkedin.com/in/steven-suh-m-d-77668347/ Explore our latest investment opportunity in Private Credit: https://aspenfunds.us/private-credit-fund/ Access our FREE Economic Report: ⁠⁠⁠https://www.investwithaspen.com/free-economic-report⁠⁠⁠ This podcast is sponsored by Aspen Funds which focuses on Private Credit, Industrial Real Estate, and Oil and Gas offerings for accredited investors: ⁠⁠⁠https://aspenfunds.us/⁠⁠⁠ Follow Aspen Funds LinkedIn: ⁠⁠https://www.linkedin.com/company/aspen-funds/⁠⁠ Instagram: ⁠⁠⁠https://www.instagram.com/aspenfunds/⁠⁠⁠

Angelo Robles, the Founder & CEO of SFO Continuity, shares insights on the mindsets, investment strategies, and alternative investments favored by the ultra-wealthy and family offices. We also discuss the potential high-reward opportunities that billionaires are excited about in 2024. Connect with Ben Fraser on LinkedIn ⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠⁠⁠⁠⁠ Connect with Steve Woodruff on LinkedIn https://www.linkedin.com/in/steve-woodruff-cfp%C2%AE-9871288/ Connect with Angelo Robles on LinkedIn https://www.linkedin.com/in/angelorobles/ Access our FREE training on How to Invest in Private Credit: ⁠⁠https://www.privatecreditmasterclass.com/sign-up⁠⁠ Access our FREE Economic Report: ⁠⁠https://www.investwithaspen.com/free-economic-report⁠⁠ This podcast is sponsored by Aspen Funds which focuses on Private Credit, Industrial Real Estate, and Oil and Gas offerings for accredited investors: ⁠⁠https://aspenfunds.us/⁠⁠ Follow Aspen Funds LinkedIn: ⁠https://www.linkedin.com/company/aspen-funds/⁠ Instagram: ⁠⁠https://www.instagram.com/aspenfunds/⁠⁠⁠

The more experience I have in being an entrepreneur, the more I see the importance of diversification in my investment strategies. It's not just about spreading your money across different stocks or sectors; it's about creating a safety net that can withstand market volatility and support your entrepreneurial efforts. My latest conversation with Ben Fraser from Aspen Funds is exactly about how spreading investments across different sectors can really protect your wealth and help you build a resilient portfolio. About Ben FraserBen Fraser is the Chief Investment Officer at Aspen Funds, where he helps investors diversify investments beyond Wall Street. To date, Ben's firm has managed over $150 million in investor capital and achieved a strong track record of delivering outstanding client service and impressive returns through out-of-the-box investments. Ben is also the host of the popular podcast "Invest Like a Billionaire," where he shares valuable insights on building and preserving wealth. He emphasizes the importance of diversification, leveraging expertise, and understanding macroeconomic trends. One of his unique approaches includes offering tax benefits through real estate investments, which can significantly reduce taxable income for entrepreneurs.Key Insights:What are your investment goals? Think long and hard about what you want to do with your investments. Understanding what you want and need beforehand allows you to build for the long term and not scattershot your investments. Consider macro trends. Don't ignore larger economic trends. Identifying growing markets and macro-driven opportunities can help you make smarter investments and find unexpected opportunities.Diversify your investments. Instead of reinvesting all profits into the business, create diversified investments and income streams. This will build more external stability and preserve your wealth​ but also help you reduce stress if something goes wrong with your business. Educate yourself. Spend time learning how to grow, preserve, and invest money effectively. DIY investing is becoming more popular, and understanding investment basics can lead to better financial control and decision-making​.Leverage other people's expertise. When entering new investment areas like real estate, consider partnering with or investing through experienced firms to avoid a steep learning curve and mitigate risks​.Plan for the future. Teach financial principles and investment strategies to your children. Help them understand the importance of creating value and contributing to the economy rather than just consuming resources.Ben's best advice for entrepreneurs:“We believe that understanding the macro picture, the bigger term trends that are going on, is way more important in identifying your investment strategy than the actual deal itself.”Connect with Ben Fraser:LinkedInInstagramWebsiteInvest Like a Billionaire PodcastFollow Beyond 8 Figures:LinkedInXWebsite

Join host Ben Fraser as he sits down with Dr. Christopher H. Loo, MD-PhD, founder, CEO, and host of the Financial Freedom Podcast. In this compelling episode, Dr. Loo shares his remarkable journey from practicing medicine to achieving early retirement and financial independence through strategic real estate investments. Discover the key decisions and mindsets that propelled Dr. Loo to financial freedom, learn about his current investment portfolio, and explore the opportunities he sees in today's market. Whether you're a physician or an aspiring investor, this episode offers valuable insights and inspiration from Dr. Christopher Loo's transformative path to financial success. Tune in to uncover the secrets to financial freedom and strategic investing! Note: Reproduced with permission. For original source link, visit: https://aspenfunds.us/podcast/passive-investor-spotlight-10-from-md-to-financial-freedom-feat-dr-christopher-loo/ Disclaimer: Not advice. Educational purposes only. Not an endorsement for or against. Results not vetted. Views of the guests do not represent those of the host or show. Do your due diligence. Click here to join PodMatch (the "AirBNB" of Podcasting): https://www.joinpodmatch.com/drchrisloomdphd We couldn't do it without the support of our listeners. To help support the show: CashApp- https://cash.app/$drchrisloomdphd Venmo- https://account.venmo.com/u/Chris-Loo-4 Buy Me a Coffee- https://www.buymeacoffee.com/chrisJx Click here to schedule a 1-on-1 private coaching call: https://www.drchrisloomdphd.com/book-online Click here to purchase my books on Amazon: https://amzn.to/2PaQn4p Follow our YouTube channel: https://www.youtube.com/chL1357 Follow us on Twitter: https://www.twitter.com/drchrisloomdphd Follow us on Instagram: https://www.instagram.com/thereal_drchrisloo Follow us on Threads: https://www.threads.net/@thereal_drchrisloo Follow us on TikTok: https://www.tiktok.com/@drchrisloomddphd Follow the podcast on Spotify: https://open.spotify.com/show/3NkM6US7cjsiAYTBjWGdx6?si=1da9d0a17be14d18 Subscribe to our Substack newsletter: https://substack.com/@drchrisloomdphd1 Subscribe to our Medium newsletter: https://medium.com/@drchrisloomdphd Subscribe to our email newsletter: ⁠https://financial-freedom-for-physicians.ck.page/b4622e816d⁠ Subscribe to our LinkedIn newsletter: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=6992935013231071233 Join our Patreon Community: https://www.patreon.com/user?u=87512799 Join our Spotify Community: ⁠https://podcasters.spotify.com/pod/show/christopher-loo/subscribe⁠ Thank you to our advertisers on Spotify. Financial Freedom for Physicians, Copyright 2024

Neal Bawa, CEO & Founder of UGro and Grocapitus, explores the latest market trends, the repercussions of recent economic changes, and the future landscape and opportunities of multifamily investing. Connect with Ben Fraser on LinkedIn ⁠⁠⁠⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠⁠⁠⁠ Connect with Neal Bawa on LinkedIn https://www.linkedin.com/in/neal-bawa/⁠ Access our FREE training on How to Invest in Private Credit: ⁠https://www.privatecreditmasterclass.com/sign-up⁠ Access our FREE Economic Report: ⁠https://www.investwithaspen.com/free-economic-report⁠ This podcast is sponsored by Aspen Funds which focuses on Private Credit, Industrial Real Estate, and Oil and Gas offerings for accredited investors: ⁠https://aspenfunds.us/⁠ Follow Aspen Funds LinkedIn: https://www.linkedin.com/company/aspen-funds/ Instagram: ⁠https://www.instagram.com/aspenfunds/⁠⁠⁠

Jeremy Hill, Founder and Managing Partner of JB Capital, shares his journey in the alternative investment space, focusing on private credit and corporate credit. This conversation with Ben Fraser covers the broader landscape of private credit, the shift from banks to private funding, and the growing opportunities in real estate and corporate lending. Connect with Ben Fraser on LinkedIn ⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠ Connect with Jeremy Hill on LinkedIn https://www.linkedin.com/in/jeremy-b-hill-a0350a3/ This podcast is sponsored by Aspen Funds which focuses on Private Credit, Industrial Real Estate, and Oil and Gas offerings for accredited investors: www.aspenfunds.us Explore our newest offering in Private Credit: https://www.privatecreditmasterclass.com/fund Follow Aspen Funds Instagram: ⁠https://www.instagram.com/aspenfunds/⁠ LinkedIn: ⁠https://www.linkedin.com/company/aspen-funds/

Walker Deibel, Founder of Acquisition Lab and Wall Street Journal bestselling author of 'Buy Then Build', joins to discuss the world of entrepreneurship through acquisition, sharing insights on buying and growing small businesses. Discover his mastermind coaching program, Acquisition Lab, designed to help budding entrepreneurs succeed. Connect with Ben Fraser on LinkedIn ⁠https://www.linkedin.com/in/benwfraser/⁠ Connect with Walker Deibel on LinkedIn https://www.linkedin.com/in/walkerdeibel/ Explore macro-driven alternative investments for accredited investors www.aspenfunds.us Follow Aspen Funds Instagram: https://www.instagram.com/aspenfunds/ LinkedIn: https://www.linkedin.com/company/aspen-funds/

Welcome to this recap of our top 5 episodes of the first half of the year. Watch the full episodes below. 1. Replicating Hedge Funds Using Machine Learning feat. Bob Elliott https://www.youtube.com/watch?v=U26-EZnV_7M 2. Private Credit Masterclass - Part 1 feat. Anton Mattli: https://www.youtube.com/watch?v=eRDGuxR76-Y 3. The Billion Dollar Mind feat. Rick Macci and Nivedita Uberoi Jerath: https://www.youtube.com/watch?v=pydzGwfy6Lk 4. Niche Assets: Tax Receivable Agreements feat. Andy Lee https://www.youtube.com/watch?v=PCRDJNnPv6E 5. How to Build and Protect Generational Wealth feat. Whitney Elkins-Hutten https://www.youtube.com/watch?v=7cJ2AZNfkvE Connect with Ben Fraser on LinkedIn ⁠https://www.linkedin.com/in/benwfraser/⁠ Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors.⁠ ⁠⁠⁠⁠⁠https://aspenfunds.us/

Enjoy our Father's Day Special Celebration with Bob and Ben Fraser. Co-leaders of Aspen Funds, they are first and foremost a devoted Dad and Son.  Hear this authentic conversation between two guys who deeply appreciate each other. You will hear their lessons and love. Happy Father's Day to all Dads. For those that are miles apart from their offspring, may you experience forgiveness this year. Become a supporter of this podcast: https://www.spreaker.com/podcast/success-made-to-last-legends--4302039/support.

Dr. Belinda Román, St. Mary's University associate professor, joins to discuss what led to her optimistic forecasts in 2023 and her outlook for 2024 & 2025. Connect with Bob Fraser on LinkedIn https://www.linkedin.com/in/bobfraser10/ Connect with Ben Fraser on LinkedIn https://www.linkedin.com/in/benwfraser/ Connect with Belinda Roman on LinkedIn https://www.linkedin.com/in/belinda-roman-19726150/ Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors.⁠ ⁠⁠⁠⁠https://aspenfunds.us/

Stay updated about the current trends and future opportunities in real estate in this episode with Ben Fraser!Ben walks us through his career, from the financing and lending side to investing and capital raising. He also provides some strategies for building trust with potential investors, data-driven market insights, and thriving amidst rising interest rates. Key Points & Relevant TopicsBen's background in the commercial space specifically as a Commercial Credit Underwriter and Commercial LenderBen's journey to the investing side and raising capital, his thought process, and mindset shiftHow to attract investors and gain their trustCurrent trends and opportunities in today's real estate marketBen's perspectives on what to expect in the market and the impact of interest rates on the current trendsInvestors' sentiments and how their decision is impacted by the distress in the marketResources & LinksApartment Syndication Due Diligence Checklist for Passive InvestorAbout Ben FraserBen Fraser is the Chief Investment Officer at Aspen Funds, where he combines his analytical nature with a passion for delivering outstanding client service and strong returns through out-of-the-box investments. With a professional background that spans over a decade, Ben has become an expert in the field of investment management and has worked for several reputable financial institutions. Ben is the co-host of the Invest Like a Billionaire podcast, where he joins his father, Robert, co-founder and CFO of Aspen Funds, along with co-founder Jim Maffuccio, to discuss economic trends and best practices for alternative investing. Prior to joining Aspen, Ben served as a Commercial Lender at First Business Bank, one of the top SBA lenders in the nation. There, he specialized in government-backed loan originations, specifically SBA and USDA loans. Before that, he worked as a Commercial Credit Underwriter for Crossfirst Bank, where he personally underwrote over $125MM in C&I and CRE loans across various industries. Ben also has experience working in the asset management industry, having served as a key member of the team at Tortoise Capital Advisors. At Tortoise, he helped grow institutional managed accounts from ~$3BN AUM to ~$7BN AUM. Ben holds an MBA from Azusa Pacific University and a Bachelor of Science in Finance from the University of Kansas, where he graduated magna cum laude. Ben's commitment to excellence and his ability to deliver strong returns for clients make him an invaluable asset to the Aspen Funds team.Get in Touch with BenWebsite: https://aspenfunds.us/ Podcast: https://aspenfunds.us/podcast/ To Connect With UsPlease visit our website www.bonavestcapital.com and click here to leave a rating and written review!

Can intuition make you a better investor? Hosted by Ben Fraser, guest Sunil Godse reveals how experiential, relational, situational, and creative intuition shape smart decisions and prevent costly mistakes. Tune in for practical insights on intuitive investing. Connect with Ben Fraser on LinkedIn ⁠⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠⁠ Connect with Sunil Godse on LinkedIn https://www.linkedin.com/in/sunilgodse/ Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors.⁠ ⁠⁠⁠https://aspenfunds.us/

In this episode we discuss strategies for buying and growing businesses, how to choose the best sell-side advisors, and actionable insights for all business owners and investors. Connect with Ben Fraser on LinkedIn ⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠ Connect with Nick McLean on LinkedIn https://www.linkedin.com/in/nickmcleanfpi/ Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors.⁠ ⁠⁠https://aspenfunds.us/

Today's special episode isn't just about giving advice. It offers valuable insights into life's journey, including the highs and lows, shared by top professionals in private equity and investment banking. We've put together a video showcasing college photos of our speakers, linking their past experiences to the present. Join us as we explore their paths and discover what it takes to fulfill your dreams. Featured guests: Chris Sznewajs, Pacific Avenue Capital (4:57) Marc J. Leder, Sun Capital Partners (9:52) Neha Markle, Morgan Stanley (14:31) Michael Bego, Kline Hill Partners (17:54) Christiaan van der Kam, Schroders Capital (24:47) Mark Sotir, Equity Group Investments (26:27) Jeff Collins, Cloverlay (29:10) Chris Burbach, Fundamental Income (33:08) Rami Cassis, Parabellum Investments (34:40) Christopher Merrill, Harrison Street (36:50) Ross Jones, Berkshire Partners (39:58) Jeffrey Stevenson, VSS Capital Partners (44:34) Pardis Nasseri, Palm Tree LLC (46:40) Michael Butler, Cascadia Capital (49:12) Drew Maloney, American Investment Council (50:45) Ben Fraser, Aspen Funds (52:21) Anthony Maniscalco, Investcorp (54:43) John Garcia - Solyco Capital (59:33) John Block - Unity Partners (1:00:44) Jesse Serventi - Renovus Capital (1:01:47) Nate Wasson - Halbar Partners (1:03:20) Scott Reed, HighVista Strategies (1:06:19) Gregory Bondick - Windjammer Capital (1:07:28) Jeffrey Miehe - Windjammer Capital (1:11:16)      

Explore horse racing's new frontier with Jeff Seder of EQB. Discover his groundbreaking Moneyball-inspired tactics, challenging pedigree norms for investment success in this dynamic industry. Connect with Ben Fraser on LinkedIn ⁠https://www.linkedin.com/in/benwfraser/⁠ Connect with Jeff Seder on LinkedIn https://www.linkedin.com/in/jseder/ Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors.⁠ ⁠https://aspenfunds.us/

We discuss the use of machine learning to create products that replicate the index returns of alternative investments. We talk about the impact on hedge funds, venture capital, and private equity. Bob Elliott is the Co-founder and CIO of Unlimited Funds, a company dedicated to creating an Indexing revolution in the Alternative Investments space. Connect with Ben Fraser on LinkedIn https://www.linkedin.com/in/benwfraser/ Connect with Bob Elliott on LinkedIn https://www.linkedin.com/in/ttoillebob/ Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors.⁠ https://aspenfunds.us/

Legendary tennis coach Rick Macci and co-author Nivedita Uberoi Jerath discuss the mindset that separates regular individuals from world champions. From coaching Serena and Venus Williams, discover their winning strategies in this insightful episode. Connect with Rick Macci on LinkedIn https://www.linkedin.com/company/rick-macci-tennis-academy/ Connect with Nivedita Uberoi Jerath on LinkedIn https://www.linkedin.com/in/nivedita-jerath-7097b044/ Connect with Ben Fraser on LinkedIn ⁠⁠⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠⁠⁠ Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors. Get started and download your free economic report today at ⁠⁠⁠⁠⁠https://aspenfunds.us/report⁠⁠⁠⁠⁠ Join the Investor Club to get early access to exclusive deals. ⁠⁠⁠⁠⁠https://www.aspenfunds.us/investorclub⁠⁠⁠⁠⁠ Subscribe on your favorite podcast app, so you never miss an episode. ⁠⁠⁠⁠⁠https://www.thebillionairepodcast.com/subscribe⁠⁠⁠⁠

Explore advanced investment strategies with Ben Fraser as he shares his expertise in high-level investments. Understand how macroeconomic factors influence investment choices and uncover the unique opportunities presented by mezzanine debt and oil and gas investments in today's economic landscape.     Key Takeaways To Listen For Basics of underwriting and key risk factors in commercial banking Common denominators of wealth observed in successful investors Advantages of mezzanine debt in real estate investments Insights into investing in oil and gas and the strategic benefits of existing assets Infill drilling: What it is and its impact on enhancing asset value     Resources/Links Mentioned In This Episode 10x Is Easier Than 2x by Dan Sullivan and Dr. Benjamin Hardy | Paperback     About Ben Fraser Ben is the Chief Investment Officer at Aspen Funds, where he combines his analytical nature with a passion for delivering outstanding client service and strong returns through out-of-the-box investments. With a professional background that spans over a decade, Ben has become an expert in the field of investment management and has worked for several reputable financial institutions.   Ben is the co-host of the Invest Like a Billionaire podcast, where he joins his father, Robert, co-founder and CFO of Aspen Funds, along with co-founder Jim Maffuccio, to discuss economic trends and best practices for alternative investing.   Ben holds an MBA from Azusa Pacific University and a Bachelor of Science in Finance from the University of Kansas, where he graduated magna cum laude. Ben's commitment to excellence and his ability to deliver strong returns for clients make him an invaluable asset to the Aspen Funds team.     Connect with Ben  Website: Aspen Funds Podcast: Invest Like a Billionaire LinkedIn: Ben Fraser     Connect With Us If you're looking to invest your hard-earned money into cash-flowing, value-added assets, reach out to us at https://bobocapitalventures.com/.     Follow Keith's social media pages LinkedIn: Keith Borie Investor Club: Secret Passive Cashflow Investors Club Facebook: Keith Borie X: @BoboLlc80554

We discuss a niche in the alternative market, interval funds & closed-end funds. Kimberly Ann Flynn, Founder of XA Investments and a seasoned MBA from Harvard, shares her expertise in this market. We talk about her journey, how private credit and real estate interact with interval funds generating yields north of 10%, and the growing access for non-accredited investors. Connect with Kimberly Ann Flynn on LinkedIn https://www.linkedin.com/in/kimberlyannflynn/ Connect with Ben Fraser on LinkedIn ⁠⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠⁠ Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors. Get started and download your free economic report today at ⁠⁠⁠⁠https://aspenfunds.us/report⁠⁠⁠⁠ Join the Investor Club to get early access to exclusive deals. ⁠⁠⁠⁠https://www.aspenfunds.us/investorclub⁠⁠⁠⁠ Subscribe on your favorite podcast app, so you never miss an episode. ⁠⁠⁠⁠https://www.thebillionairepodcast.com/subscribe⁠⁠⁠

In this episode, we have a very insight conversation on wealth-building and preservation with financial expert Whitney Elkins-Hutten. She shares invaluable tips and strategies honed from over 20 years of private investing, consulting, and leading companies. Connect with Whitney Elkins-Hutten on LinkedIn https://www.linkedin.com/in/whitneyelkinshutten/ Connect with Ben Fraser on LinkedIn ⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠ Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors. Get started and download your free economic report today at ⁠⁠⁠https://aspenfunds.us/report⁠⁠⁠ Join the Investor Club to get early access to exclusive deals. ⁠⁠⁠https://www.aspenfunds.us/investorclub⁠⁠⁠ Subscribe on your favorite podcast app, so you never miss an episode. ⁠⁠⁠https://www.thebillionairepodcast.com/subscribe⁠⁠

In this episode, we have a fascinating conversation with Seth Bradley who is the Chief Legal Officer at TribeVest. We dive deep into the insights from someone who's seen both sides of the investment world - from passive strategies to active capital raising. We also discuss the red and yellow flags in legal documents, the skills required for syndications, and much more. Connect with Seth Bradley on LinkedIn ⁠https://www.linkedin.com/in/sethpaulbradley/⁠ Connect with Ben Fraser on LinkedIn ⁠https://www.linkedin.com/in/benwfraser/⁠ Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors. Get started and download your free economic report today at ⁠⁠https://aspenfunds.us/report⁠⁠ Join the Investor Club to get early access to exclusive deals. ⁠⁠https://www.aspenfunds.us/investorclub⁠⁠ Subscribe on your favorite podcast app, so you never miss an episode. ⁠⁠https://www.thebillionairepodcast.com/subscribe⁠

Dive into the world of strategic capital raising with Ben Fraser, an expert in building momentum in the challenging arena of fundraising. Ben shares his journey from the initial struggles to mastering the art of attraction and trust. Discover the pivotal role of authenticity in forming meaningful connections and how shifting to a digital strategy revolutionized his approach. Gain insights on the power of podcasts in establishing credibility, the critical importance of testimonials, and the art of content creation and promotion, guided by principles from Gary Vaynerchuk. Ben also unveils his successful funnel strategy, focusing on expanding investor networks, increasing investment sizes, and nurturing existing relationships for sustainable growth. Tune in to transform your approach and achieve success in the art of fundraising.Key Takeaways to Listen ForAuthenticity is Key: Building genuine relationships is crucial in attracting like-minded individuals and establishing trust in the fundraising sector.Digital Strategy Success: Transitioning to a digital model can significantly enhance efficiency and scale in capital raising efforts.Podcasts as Credibility Tools: Featuring on podcasts can leverage host credibility, fostering trust and authority among potential investors.The Power of Testimonials: Utilizing third-party testimonials effectively validates claims and builds confidence in an investor's decision-making process.Effective Funnel Utilization: Essential for consistent capital raising, it involves expanding investor networks and nurturing existing relationships.About Tim MaiTim Mai is a real estate investor, fund manager, mentor, and founder of HERO Mastermind for REI coaches. He has helped many real estate investors and coaches become millionaires. Tim continues to help busy professionals earn income and build wealth through passive investing. He is also a creative marketer and promoter with incredible knowledge and experience, which he freely shares. He has lifted himself from the aftermath of war, achieving technical expertise in computers, followed by investment success in real estate, management skills, and a lofty position among real estate educators and internet marketers. Tim is an industry leader who has acquired and exited well over $50 million worth of real estate and is currently an investor in over 2700 units of multifamily apartments.Connect with TimWebsite: Capital Raising PartyFacebook: Tim Mai | Capital Raising Nation Instagram: @timmaicomTwitter: @timmaiLinkedin: Tim MaiYouTube: Tim MaiConnect with UsTo learn more about partnering with us, visit our website at https://javierhinojo.com/ and www.allstatescapitalgroup.com, or send an email to admin@allstateseg.com. Sign up to get our Free Apartment Due Diligence Checklist Template and Multifamily Calculator by visiting https://javierhinojo.com/free-tools/.To join Javier's Mastermind, go to https://javierhinojo.com/mastermind/ and to apply to his BDB Mastermind, see https://javierhinojo.com/mastermind/#apply_form and answer the form.

Discover helicopter financing with Thora Capital CEO, Matt Rothschild. Learn about its origins, mechanics, markets served, financial structures, risks, benefits, tax advantages, and future trends. Connect with Matt Rothschild on LinkedIn https://www.linkedin.com/in/mattrothschild/ Connect with Ben Fraser on LinkedIn https://www.linkedin.com/in/benwfraser/ Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors.Get started and download your free economic report today at https://aspenfunds.us/reportJoin the Investor Club to get early access to exclusive deals. https://www.aspenfunds.us/investorclubSubscribe on your favorite podcast app, so you never miss an episode. https://www.thebillionairepodcast.com/subscribe

Join us for Part 2 of our Private Credit Masterclass podcast series, where we dive deeper into seizing unique opportunities in private credit investing. In this episode, we continue our discussion with special guest Anton Mattli, CEO of PEAK Financing, exploring strategies like bridge financing and loan assumptions. Discover key underwriting factors for assessing risk, understanding sponsor strength, and ensuring financial stability. Download the slides and watch the full Private Credit Masterclass - ⁠https://www.privatecreditmasterclass.com/sign-up⁠ Connect with Anton Mattli on LinkedIn ⁠https://www.linkedin.com/in/antonmattli/⁠ Connect with Bob Fraser on LinkedIn ⁠https://www.linkedin.com/in/bobfraser10/⁠ Connect with Ben Fraser on LinkedIn ⁠https://www.linkedin.com/in/benwfraser/⁠   Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors. Get started and download your free economic report today at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://aspenfunds.us/report⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Join the Investor Club to get early access to exclusive deals. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.aspenfunds.us/investorclub⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Subscribe on your favorite podcast app, so you never miss an episode. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.thebillionairepodcast.com/subscribe⁠⁠⁠

Whitney Elkins-Hutten of PassiveInvesting.com interviews Ben Fraser. Ben is the Chief Investment Officer at Aspen Funds, and he unravels the story behind the acquisition of a 200-unit property in Overland Park, Kansas. From navigating loan assumptions to raising capital during the holiday season, discover the strategic decisions and partnership dynamics that propelled this deal to success. Gain valuable insights into due diligence, financial structuring, and overcoming unexpected challenges. Whether you're a seasoned investor or new to multifamily real estate, this episode offers a wealth of knowledge and inspiration for your investment journey.

We discuss the latest insights on the Fed's rate sentiment and its impact on the market. Are investors prepared for potential rate changes? Tune in as we break down market reactions and investor strategies. Wall Street Journal Articles https://www.wsj.com/economy/central-banking/the-feds-conundrum-interest-rates-are-both-too-highand-too-low-f05a9d3a https://www.wsj.com/livecoverage/fed-meeting-fomc-interest-rate-decision-march-2024/card/why-the-fed-s-dots-are-the-center-of-attention-this-week-7crEXy9sPrMvklO7CZSD Connect with Bob Fraser on LinkedIn ⁠https://www.linkedin.com/in/bobfraser10/⁠ Connect with Ben Fraser on LinkedIn ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/benwfraser/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠   Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors. Get started and download your free economic report today at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://aspenfunds.us/report⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Join the Investor Club to get early access to exclusive deals. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.aspenfunds.us/investorclub⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Subscribe on your favorite podcast app, so you never miss an episode. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.thebillionairepodcast.com/subscribe⁠⁠

Today's guest is Ben Fraser    Ben Fraser is the Managing Director and Chief Investment Officer at Aspen Funds, where he combines his analytical nature with a passion for delivering outstanding client service and strong returns through out-of-the-box investments.   Show summary:  In this episode, Sam speaks with Ben Frazier from Aspen Funds. They delve into the complexities of raising capital and the strategic shifts Aspen Funds has made to adapt to the evolving market. Ben outlines three common scenarios they encounter: providing gap funding for urgent capital needs, facilitating loan assumptions to improve leverage, and offering rescue capital in distressed situations. He explains the intricacies of negotiating with senior lenders, emphasizing the importance of understanding their motivations and the power of being the last money in. Ben also candidly discusses the current challenges in the commercial real estate market, including rising interest rates and an influx of new supply, suggesting that survival through the next few years will be key for investors.   -------------------------------------------------------------- Intro (00:00:00)   Ben's Career Journey (00:01:14)   Evolution of Aspen Funds (00:02:00)   Challenges in Raising Capital (00:03:42)   Adapting to Market Changes (00:04:55)   Navigating Risks in Real Estate Investments (00:05:13)   Building Trust with Investors (00:07:13)   Attracting Capital through Thought Leadership (00:10:52)   Timeline for Capital Attraction (00:12:13)   Current State of Commercial Real Estate Market (00:14:05)   Future Opportunities in Real Estate Investments (00:17:57)   Conclusion of the Show (00:17:57)   Gap Funding (00:18:24)   Loan Assumption (00:19:56)   Distressed Rescue Capital (00:20:52)   Hope for Sponsors (00:23:32)   Negotiating with Lenders (00:26:15)   Conclusion and Contact Information (00:28:52)   -------------------------------------------------------------- Connect with Ben:    LikedIn: https://www.linkedin.com/in/benwfraser https://www.linkedin.com/company/aspen-funds   Web: aspenfunds.us   Connect with Sam: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.     Facebook: https://www.facebook.com/HowtoscaleCRE/ LinkedIn: https://www.linkedin.com/in/samwilsonhowtoscalecre/ Email me → sam@brickeninvestmentgroup.com   SUBSCRIBE and LEAVE A RATING. Listen to How To Scale Commercial Real Estate Investing with Sam Wilson Apple Podcasts: https://podcasts.apple.com/us/podcast/how-to-scale-commercial-real-estate/id1539979234 Spotify: https://open.spotify.com/show/4m0NWYzSvznEIjRBFtCgEL?si=e10d8e039b99475f -------------------------------------------------------------- Want to read the full show notes of the episode? Check it out below: Ben Fraser (00:00:00) - There's something like 9 million accredited investors just in the US, right? For any one of us to be successful, I only need like a couple hundred investors. You know, if I want to go big, a couple thousand investors, that's not that many in the sea of accredited investors. And so my mindset started to shift. We started to position ourselves as thought leaders,, to attract capital to us as authorities in our space, doing a lot more content,, getting in front of audiences virtual and in person and starting to kind of build a,, an attraction mechanism to bring capital to us.   Intro (00:00:36) - Welcome to the how to scale commercial real estate show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big.   Sam Wilson (00:00:49) - Ben Frazier is the chief investment officer at Aspen Funds. They're an inc 5000 company, and he's responsible for sourcing, vetting and capital formation of investments. He has prior experience as a commercial banker and underwriter, as well as working in a boutique asset management group.   Sam Wilson (00:01:05) - He's also the co-host of the Invest Like a Billionaire podcast. So if you haven't checked that out, go check that out as well. Ben, welcome to the show.   Ben Fraser (00:01:12) - Hey, thanks for having me, Sam. Absolutely.   Sam Wilson (00:01:14) - The pleasure's mine. Been there. Three questions. I ask every guest who comes on the show in 90s or less. Can you tell me where did you start? Where are you now? And how did you get there?   Ben Fraser (00:01:22) - Yeah. So you kind of said a little bit. I was,, spent some time in banking as a commercial banker, underwriter. Learned a lot. Got to look under the hood of ultra wealthy borrowers of the bank. And my favorite thing was going to look at their personal financial statements and tax returns. Learned a whole lot. Two biggest takeaways were the most wealthy,, borrowers were business owners and real estate investors. And I thought, hey, that's what I want to do. So an opportunity to join Aspen Funds about six years ago now, I've become a partner and,, helping scale and grow the business,, and running running my team.   Ben Fraser (00:01:55) - So it's it's been an amazing ride. And,, just kind of getting started to.   Sam Wilson (00:02:00) - That's really cool. What was the opportunity that you saw when you joined Aspen Funds? Like, what was the gap that you said, hey, man, this is something I can fill and this is the direction we can take the company.   Ben Fraser (00:02:09) - Yeah, well, I kind of got bait and switch that I like to say in a in a certain way, because I was coming on to be the VP of finance. So as a banker, you know, finance MBA. So I was like, I'm going to go kind of the CFO route, kind of help with the the finance side of the business. So I joined, you know, they'd been going about five years at that point, had only raised about 10 million bucks. So it was pretty small at that point. But so opportunity to help scale and grow something. But then very quickly they said, hey, you know, we actually need help raising capital because that's, you know, really we need to scale.   Ben Fraser (00:02:43) - And I'm like, okay, that's not what I really signed up to do. But hey, I want to just help out where I can and, and the and grow. So learned very quickly., I had no idea what I was doing and,, tried all the wrong things. Made a lot of mistakes., wasted a lot of money,, trying to do different campaigns. But fast forward to six years later. We've raised over $200 million in equity from investors. And,, continue doing to to scale up. So it's it's been a fun thing. I have an amazing team. It's not all me. I have about,, six different people that are on my marketing and investor relations team. So we just continue to be able to invest in good people. And I don't do any calls anymore. But still, you know, run that team, right?   Sam Wilson (00:03:27) - No, that's really cool. I'd love to hear a little bit more about those kind of mistakes and things that you say maybe you did wrong early on, but before we get there, let's talk maybe about what Aspen was doing then and maybe what it's doing now.   Sam Wilson (00:03:40) - Like, how has that changed?   Ben Fraser (00:03:42) - Yeah. You know, I think it's important to have an agile business model, especially in real estate and investing, because the tides can change. Right. And what you were doing before,, may not be a good place to be now. And what was really cool at the genesis of Aspen, it was really an opportunistic thing that our, our founders saw, and it was buying discounted distressed mortgages on, on homes. Right. And at that point, coming out of the great financial,, crisis, they saw this opportunity was a great opportunity., but it really launched us. We continue to operate those funds that continue to perform very well, but it's just not the same level of growth that we've seen in the past. And so several years ago, we started to take the same approach that we use to identify really good opportunity sets, really good, what we call macro driven themes. So we're looking at the macro economic picture, trying to find where we think these long term trends are going to kind of carry the next wave and, invest in those verticals.   Ben Fraser (00:04:45) - And so we have a few different verticals we kind of focus on and have expanded into a lot of different,, kind of asset classes from there. And, continue to, to grow those.   Sam Wilson (00:04:55) - Got it. What about the distressed mortgage business? What's that? I mean, what's that look like today? If you guys were I asked this this is kind of a leading question because I'm, I'm an investor in a distressed mortgage fund that is basically gone belly up at this point.   Ben Fraser (00:05:13) - Oh, no. Yeah.   Sam Wilson (00:05:14) - It's not good, man. It's not good. I could I got a front row seat on telling you the wrong things to invest in., but it's gone belly up and I'm looking at it going, and they made some mistakes, I think maybe 3 or 4 years ago where they ended up doing. They took these loans and they did worker work workouts. Work around.   Ben Fraser (00:05:29) - Workouts. Yeah. Workouts.   Sam Wilson (00:05:30) - Yep. Workout. Okay. I'm not in that business. You can tell,, with the borrowers, but they were resetting then, you know, the interest rates at that point in time, like, hey, Ben, cool, man.   Sam Wilson (00:05:40) - We can rework your loan. I know you had 100 grand. We bought the loan for 20 grand., you know, we'll reset it for 70, and you can,, you know, you can take the well and we'll, you know, set it at 3 or 4%. Well, now, nobody wants those. They can't resell them. Like the value of those loans is declined to almost nothing because nobody wants to take a 4% or 3% loan on their books because they're not worth anything, because now it's, what, 7% that's going rate something like that? How did how did you guys get around not getting caught holding the bag like that?   Ben Fraser (00:06:08) - Yeah. You know, again, being agile not both in a macro sense, but also a micro sense. So as the market kind of matured we had to shift strategy. And so, you know, we we saw that one of the biggest risks would be rising interest rates. And at that point we thought it was a pretty, pretty minimal risk because we'd have low rates for a long time.   Ben Fraser (00:06:28) - , but we always risk adjusted our pricing. And we just kind of held to that and, you know, missed out on some opportunities, but just felt like that's, you know, we're taking more risk working with a borrower that is,, you know, not as good credit quality as, you know, you or I. And so we risk price those to,, you know, much higher interest rates. So our yields, our gross yields are generally in the 13 to 15% range., and so we've been able to stay right sized in that fund and still pay our investors their full return and haven't missed in 11 years. And,, have, you know, still pretty good healthy portfolio. So it's, you know, call it some luck, call it a little bit of foresight and just good discipline. Throughout changing, changing times.   Sam Wilson (00:07:13) - Right. And I think a lot of people are afraid of that. One of the things that we hear a lot of people say is, you know, don't don't fall prey to shiny object syndrome, which is a real thing.   Sam Wilson (00:07:22) - You know, we're investors, they get involved. I'm I'm one of them. I'll be honest. It's, you know, early on, you're like, oh, hey, what about this? What about that? That's really cool. That's really cool. But yet at the same time, there's a right time and place to be like, no, we're pivoting. We're not doing that anymore. Because as you said, very at the beginning that, you know, times change and you got to have to have a, have to have an agile business model in order to adapt with the times. So really cool. Thank you for sharing that. Let's talk a little bit about the early on days of raising capital. You said you spent a lot of money and made a lot of mistakes, did some wrong things. Give us some insight there.   Ben Fraser (00:07:52) - Yeah. You know, so I came in with pretty much no network. We didn't have a website that worked,, and no background and raising capital. I'd done some like sales jobs before, so I knew how to like, talk to people.   Ben Fraser (00:08:03) - But, you know, that was about it. So my initial thought was, hey, if I just. Go into rooms where there's wealthy people. We have a compelling product, compelling offer. I can convince them to invest with me, right? I mean, it's that simple. Money needs a place to land. We got a good place for it. You know, easy as pie. So we started doing. I mean, it's kind of funny because we go to this this,, conference, and there was this,, kind of service provider that mostly worked with financial advisors, which this is a very common lead generation tool where they go do dinner events, they send out mailers, they bring people to a fancy steakhouse. They do a whole, you know, dog and pony show and convert people to a,, an appointment where you kind of talk one on one and then you, you know, get the assets. So they tried to apply this to,, fundraising. And,, so we tried this and, you know, I went to like a whole week long training of how you do these seminars.   Ben Fraser (00:09:03) - And,, we went all all in on it and spend a lot of money and had a lot of success from people coming to their and people that were interested. And then we had a really high conversion rate to appointment. So I'm like, man, this is working. So we just keep doing this while we're working through the the lead pipeline. And then at the end of the day, we did, I think, 3 or 4 of these events, and they're costing us 15, 20 grand a pop. So, you know, we're dropping some change. And at the end of the day, I raised a big fat goose egg and I was like, what just happened? Because people came, they were interested, they wanted to learn more and I couldn't close them. And what was so interesting to me, you know, there's different reasons why people decide not to invest, but the ultimate one was they just didn't have enough trust in us. They didn't. There wasn't enough of a,, comfort level, knowing who we are, what we're doing.   Ben Fraser (00:09:57) - And, you know, we had a little bit of a track record, but, you know, this was these were called audience. And so very quickly learned, you know, the kind of idea of, of funnel,, marketing, but also in capital raising, building that trust is so important. And finding ways to shortcut that trust curve is like kind of really became my, my passion of learning how to do that. And so what really shifted was we instead of like my approach at that point was begging and groveling and just any dollar I could get I would take. But, you know, it created this scarcity mindset to where it was like, if I don't close this investor on the phone right now, I don't know when my next investor is going to come and I need the money to, you know, invest in this deal to an abundance mindset of, you know, I think I forget the number that changes all the time, but there's something like 9 million accredited investors just in the US, right? For any one of us to be successful, I only need like a couple hundred investors.   Ben Fraser (00:10:52) - You know, if I want to go big, a couple thousand investors, that's not that many in the sea of accredited investors. And so my mindset started to shift. We started to position ourselves as thought leaders,, to attract capital to us as authorities in our space, doing a lot more content,, getting in front of audiences virtual and in person and starting to kind of build a,, an attraction mechanism to bring capital to us. And,, then you build on momentum right where you, you find where the momentum's rolling and you just double down, triple down and,, and just keep, keep going. So it's fast forward. Now, we've raised, raised a lot of money and it's I'm not working any harder. Not necessarily any smarter is just doing the right things. Right.   Sam Wilson (00:11:36) - No, I love that. Thank you for sharing that. That's,, that's that's time intensive on the front end. I think putting in those, positioning yourself as thought leaders, putting out content, I mean, what was the,, it's like,.   Sam Wilson (00:11:50) - You know, Google ads or something like that. You know, they say on the front end, like you're going to spend the first 4 or 6 months and you're pouring in tons of money in an ad campaign in the first 4 to 6 months of that. There's just very little happening. You don't think, and then eventually, you know, you start to get traction with it. What would you say the timeline is for you? Or you said, hey, man, we put in the hard work that 12 months, 24 months, what was how long do you feel like before you start to really get your feet underneath you?   Ben Fraser (00:12:13) - Yeah. You know, I think it's just it has to be a mindset shift where we all want a silver bullet that if I just do X and I invest Y into it, I get out Z and I make all this money. Right. And it's it's never as simple as that. And I think I spent so long trying to find the formula that we could just pour money into that would just give us, you know, new capital.   Ben Fraser (00:12:34) - , but it's like the quick fix, right? And it's so much of what we're doing, you have to play the long game. And when you're doing content, when you're building a,, an audience, when you're building a platform, whatever mechanism you choose, whether that's, you know, blogs, whether that's YouTube, whether that's a podcast,, whatever it is, it takes time. And so for us, we started with SEO,, we had some skills internally of being able to,, rank high in Google. And so we started doing that, writing articles and, ranking high in Google for certain keywords and then doing layering on advertising on top of that. And then, you know, that became kind of the first,,, flywheel that we could kind of build off of into other, other things. And so it took some time. It's hard to say exactly when it really kicked off, but I would say we spent. Probably a good portion of a year or two, like with this mindset of we're just going to go hard.   Ben Fraser (00:13:25) - We're going to, you know, build this thought leadership platform with results along the way. But I would say at about that kind of 18 to 24 month mark. Everything. Just start taking off, right? Because you get a couple wins, you get on a couple stages and all of a sudden, you know, you just start to attract more and then it's,, this kind of snowball that picks up steam and just gets bigger and bigger and bigger and bigger. And, you know, you just kind of roll with it, right?   Sam Wilson (00:13:49) - I love it, love it. Thank you for sharing that. Certainly appreciate it. We've got about nine minutes left here on the show. I want to get cover. Two things. One, I want to get your thoughts on what the current,, commercial real estate market looks like. And then what you guys are really going along in right now.   Ben Fraser (00:14:05) - Yeah. You know, it's it's interesting as we stand today, beginning of 2024,, we're sitting on the back end of the fastest,, rate increases in history.   Ben Fraser (00:14:15) - And,, the market is still digesting. What does that mean? You know, how how long is this going to be? When can we get our first rate cut, please? Jerome Powell and it's from my perspective, caused a,, a misalignment of expectations to reality. And I think a lot of people are just wanting to go back to the old normal. Right? What we're used to really low interest rates, really cheap money. And I think we're entering into a new normal. And,, I think we're going to have rates higher for longer. What does that mean? I mean, anyone that knows, you know, some basic math and you have smart listeners, but, you know, higher interest rates put a lot of pressure on higher cap rates, which really puts, you know, downward pressure on value. So I think we're seeing,, values being taking a hit in the short term. But we also see a lot of capital on the sidelines looking for places to invest.   Ben Fraser (00:15:08) - Right. So I don't think we're going to see the next oh eight., you know, part of that was driven by a banking crisis. And we're not seeing the same level of a banking crisis. It's more idiosyncratic across different types of of lenders that have maturing portfolios., but what I do know is that, you know, coming from a banking background, when when the credit markets tighten and when investors get spooked, it's very difficult to form capital. It's very difficult to go get debt, very difficult to go get raises, raise equity. And investors, they see maybe opportunity or the kind of beginning stages of it as the market kind of resets and goes into another bull run. But I think we're still very early in that. I don't think we have fully reset number one. And number two, it's going to take some time for investors to have confidence coming back into, well, what is the new exit cap rate that we're projecting? You know, what is the economy going to do.   Ben Fraser (00:15:59) - And right now what we're seeing from a risk adjusted standpoint is kind of the private credit boom. Right? This is this is the time of the market when private credit, it goes through a really big,, boom cycle because senior lenders are pulling back., a lot of times if it's like agency or CMBS loans that you have on existing portfolios or acquiring new interest rate,, or not interest rate, interest reserves,, that you got to bolster your, your cash reserves that maybe you don't have enough capital to finish your business plan, you know. And so there's credit tightening there. It's difficult to raise capital from a capital call of investors. So you can kind of come in and preferred equity mezzanine debt lower part of the capital stack lower risk. You don't have the same exposure to cap rates continuing to go up or values to drop because you're usually cap out at, say, 70, 75% loan to value. And then on new acquisitions, we're seeing a lot of this loan assumptions are the hot thing right now, right where you can go and assume an agency loan,, at, you know, low rates of yesteryear and,, be able to ride out whatever maturity is left on there.   Ben Fraser (00:17:08) - But generally those are very low leveraged loans, especially, you know, at the values a couple of years later. So,, you can kind of come in at that part of the, of the capital stack. You can generally get really strong risk adjusted returns., you know, not quite equity like returns, but low double digits and,, on a net basis and you're way lower in the capital stack. So it's, it's from our standpoint, a very attractive place to be. We think it's going to be an opportunity for at least the next several years., as a lot of these maturing loans start to hit and,, the market has to digest an enormous amount of supply of new,, mostly housing and multifamily,, so there's going to be a lot of turbulence in the market for the next 24 months, and we want to be positioned to take advantage of that.   Sam Wilson (00:17:57) - So how does that work? Let's let's assume, I don't know, we're going to make up some fictional situation.   Sam Wilson (00:18:02) - Or maybe you can make up a,, change the names for,, identity. You know, no one knows who they are. But what's a situation that you guys have encountered where someone has come to you and kind of walk us through how you guys look at the opportunity, and then kind of how you help the borrower out in that situation, then how you protect your investors. Give me give me kind of some nitty gritty if you can, without obviously telling your stories.   Ben Fraser (00:18:24) - Yeah. So I mean, there's probably three situations that we generally see. One is gap funding. So I had a,, a borrower just the other day. They're closing on a deal., they, you know, leverages downs, have to raise more equity. It's really hard to raise equity right now. He had a big investor drop out there going to the closing table. And like 3 to 4 weeks I need a million bucks., so we're coming in. This is a 90 day loan. And, you know, we're charging high interest for this because it's, you know,, it's money that he needs, and we're coming quick.   Ben Fraser (00:18:57) - And it's an asset based loan. But in the course of the whole project, it's a very, very minimal cost versus not closing. So we kind of come and help gap fund., and then we get paid off in 90 days that that happens fairly regularly. Another case I mentioned is the loan assumption. And generally loan assumptions like what we're looking at right now, they have a 2.9% assumed rate with another I think it's 6 or 7 years and a really good submarket. You know, it's a I think a 90s vintage property. So it's just it's a great asset. But it's at like 45% leverage., so it's difficult to get your, their equity investors returns. They want at that leverage point. So we come in. We're more expensive than the senior debt. You know we're in the kind of mid double digits total cost standpoint. But it's still a creative to their equity investors who get all the upside. And we kind of get a contractual rate of return. And we bring the leverage up to a, a more normal scenario.   Ben Fraser (00:19:56) - , while they can still, you know, manage that a really good loan assumption., and the kind of third scenario is probably the more distressed rescue capital situation. This is,, these are a lot more challenging because a lot of times basis dictates the future, right? If you just bought it at the peak and you levered it up to 80%, and we've seen a lot of deals recently, there's there's there's just no way you're not going to sell it at a loss. I mean, I'm sorry I can't put any more money down at this deal because you're already at today's value. You're over over 100% leverage, right. So those are difficult situations. But there are situations where we're seeing where a lot of these senior lenders and bridge debt lenders are very, very desperate because they have a lot of issues in the portfolio. They get very aggressive. So we can actually go lower in the capital stack. They actually subordinate portions of their senior loan behind us. So they actually stand to lose significant amounts.   Ben Fraser (00:20:52) - , if,, you know, if there's a loss in the property before we ever get hit, even below the senior, not all the way below, but somewhere kind of in the, in the,, behind them. So those are kind of different situations we see,, in kind of the needs for the capital.   Sam Wilson (00:21:07) - Right. So just and I want to, I want to kind of pick that last deal apart a little bit and see if you can clarify some things on this. What you're finding is that there are bridge lenders out there because obviously a loan is a lender's asset. So they have a loan on a on a deal. And that for whatever that that deal is now in distress. And you guys come to them along with the borrower and say, hey, look, we can help bridge this gap. Yep. Or whatever. Not. I guess you use gap funding on the first deal, but we can we can come in and you in the, in the initial, senior debt holder will now subordinate part of their debt to what you guys are bringing to the table.   Sam Wilson (00:21:45) - So you guys are now in position one in order to keep this deal moving forward. Okay. Yeah. For those of you who are listening, he's shaking his head. Yes.   Ben Fraser (00:21:54) - I know that's the question.   Sam Wilson (00:21:57) - I am just yeah.   Ben Fraser (00:21:58) - So, so so the idea on this, this deal in particular, it's,, they. We're doing the renovation plan that a bad property manager drove. Occupancy was low, aided to a lot of cash reserves. They ran out of money to finish renovation plan. They're stuck at like 70% occupancy because they don't have the capital to finish renovation plan. They hit the business plan. They're hitting the market rents. They have a path to stabilization. They don't have any money to do it. The senior lender is saying, we're not putting any more money out because we're out. We're our whole portfolio is, you know, in trouble. And,, we're, you know, they don't want to take it back because they have other deals are taking back. And, you know, that's the last thing they want to do.   Ben Fraser (00:22:37) - So we could come in and say, hey, we'll provide the, the, the, the funding to finish the business plan. But lender we need you to subordinate to us in this scenario. It's, it's a almost a 2 to 1. So if we put $3 million out they're going to subordinate $6 million of their senior portion of their loan behind us. So they have to lose $6 million before we even lose a dime of our capital. And that's, you know, last money in dictate terms. Right. And that's just the reality is you can write the ticket and we have all the leverage, because if we don't like the deal, we just won't invest in it. We won't put the money out. And so that's that's where you get a lot of you know getting to cherry pick.   Sam Wilson (00:23:16) - Got it. That's really cool Ben I love that I mean that's that's I mean that's amazing one that you get to dictate those terms and come in in that position. I guess there's there's two further thoughts on that though is that what is the hope from the sponsors position.   Sam Wilson (00:23:32) - Like what's the hope for them as it pertains to their equity investors? Are they eventually just hoping to just not lose the farm on this deal and make their investors whole as kind of that? This is their this is their their Hail Mary to get out of the deal alive 100%.   Ben Fraser (00:23:47) - I think a lot of sponsors in these situations have realized, wow,, we're going to be lucky if we can get our capital back, because a lot of these deals were purchased at historically low cap rates. And when the interest rates have reset and they're higher now, you I mean, they can't even refinance because the refinance would require a huge capital injection rate. We all have cash out refinance, right. Most deals right now are cash in refinances. That's not the direction you want to see cash going. And so it's it's difficult because values have come down. We're kind of I think at the beginning stages of the worst part of this cycle. Right. I think it's over the next 20 or 12 months, it's going to get pretty, pretty gnarly and then hopefully kind of start to rebound up.   Ben Fraser (00:24:30) - But if you can just make it through the next couple of years, right, to where a lot of this,, distress of maturing loans is hit the market. I mean, the other kind of big wave that were they're fighting right now is new supply, especially in the Sunbelt markets. We're seeing record number of deliveries of new units because these were all started in the cheap money, you know, part of the end of the last cycle. And it's now all being delivered. And so we have 60% more new supply than the previous record hitting over the next two years. And so you're now competing not only with high interest rates, but now with a new tons of new properties. And they're getting very aggressive and leasing these up. So you just if you can make it through the next couple of years, you can hope to ride out the storm and hopefully values recover a little bit. Hopefully we do have some lower interest rates and all those factors that you can't control, but probably in a better position a couple of years down the road can hopefully at least return capital.   Ben Fraser (00:25:27) - And maybe you can squeeze out some profits too.   Sam Wilson (00:25:30) - Right? Right. And I think that's, that's I mean, one, I don't wish that on anybody, but it's also just an economic reality. I think a lot of sponsors probably need to take to heart, which is that, you know, the days of yester year of doubling our money in 18 months, which I was,, you know, part and parcel I was a participant in had lots of fun doing it. But I think those days are behind us for the foreseeable future., so, you know, getting being honest with your investors and saying, hey, look, if we do our, the best we might do here is get out alive. So if we can return your capital to you, I feel like we've hit a home run at that point. So that's that's a humbling conversation. But it's something I think we're just going to see more of. The last question I have for you on this, what's that conversation like with the,, bridge debt lender, the, the, the senior lien holder saying, hey guys, we're going to come in as rescue.   Sam Wilson (00:26:15) - Like, how do you even start that? I mean, I, I would imagine that that conversation I'm just projecting here. So tell me if I'm right or wrong or how it actually works, I guess is the real question. But that, I mean, it's going to begin with a lot of like no answers in the beginning because like, no, we're not subordinating our debt and like, why? Like, how does that even work out? Like, how do you work your way through the legal and technical challenges of getting this whole sort of a deal done?   Ben Fraser (00:26:39) - Yeah, attorneys definitely get get rich in this scenario. So there's a lot of negotiations, a lot of, you know, redlining of agreements. But,, yeah, I mean, it really starts with, you know, knowing where where our box is and knowing what we're not willing to capitulate on. And so it's really a matter of here's your options. I mean, one of the options of the sponsor is. If they don't get the scalpel, they give the keys back to the property.   Ben Fraser (00:27:05) - But from the lender's standpoint. What's their motivation. Right. And if there's like we're actually targeting certain bridge debt lenders, I'm not gonna say the names because it's proprietary knowledge. Right. But they have struggling portfolios and we know they they don't want to take back all their properties. Right. And so if they have a certain number of properties or a portfolio that's just struggling, they just want to kick the can down purely from an operational standpoint. Right. They can't take back as many properties because they're going to probably take losses in their capital. So it's understanding what their motivations are and the position they're in. Because in some deals we've seen with this lender, they're actually not in a negative equity position. There actually is a little bit of equity they sold right now. Now the sponsor would lose capital. And so but we don't have as much leverage to work with the the senior lender. And so you know we have to kind of understand the position. And then we've actually just walked away from the negotiating table like two times already on this one deal.   Ben Fraser (00:28:04) - And I'm not even sure if we're going to get there. Then just we're talking about a deal. In my head that's, you know, an act of negotiations., but. It's understanding what their motivations are. And because I, I write the last check, I have all the power and all the leverage because I just walk away if I don't, because there's a lot of other deals out there that are looking for capital. And so it's it's you kind of have all leverage in that position, right?   Sam Wilson (00:28:29) - No, that's really, really interesting. Ben, thank you for coming on the show today and kind of breaking down what it is you guys are doing currently where you've been in the past. You've given us all sorts of insight, everything from kind of the mistakes you made early on raising capital to,, you know, what you guys are doing now on the private credit side of things, where you guys see the market and just how you guys are positioning yourself for the foreseeable future. So certainly appreciated you coming on today and sharing your insights with us.   Sam Wilson (00:28:52) - If our listeners want to get in touch with you and learn more about you, what is the best way to do that?   Ben Fraser (00:28:57) - Yeah, you can check out our podcast, Invest Like a Billionaire., and then our private equity firm is Aspen funds at Aspen Funds us.   Sam Wilson (00:29:04) - Aspen funds us. We'll make sure we include that there in the show notes. Ben, thank you again for your time today. I do appreciate it.   Intro (00:29:10) - Thank you. Sam. Hey, thanks.   Sam Wilson (00:29:12) - For listening to the How to Scale Commercial Real Estate podcast. If you can do.   Intro (00:29:15) - Me a favor.   Sam Wilson (00:29:16) - And subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen. If you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories. So appreciate you listening. Thanks so much and hope to catch you on the next episode.