Podcasts about Hud

Joe discusses the backlash facing the Kerrville city manager after a controversial text message involving Secretary Noem, and the online outrage targeting actress Sydney Sweeney over her American Eagle jeans ad—some even absurdly labeling her a white supremacist. Joe also covers VP JD Vance's remarks on the escalating situation in Cincinnati. PLUS, HUD Secretary Scott Turner joins Joe to talk about his visit to Kerrville, Texas and how HUD is stepping in to support Texans impacted by the recent floods. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of Multifamily Mastery, John Casmon interviews Cary Clarke, a seasoned developer who shares his journey from working in his father's multifamily business to launching a 351-unit ground-up apartment development in the DFW metro. Cary discusses how the 2008 financial crisis reshaped his approach to real estate, why he pivoted back into multifamily after decades of homebuilding, and the power of mentorship and community through programs like Apartment Addicts. He also unpacks how he secured land in a booming submarket near Fort Worth and structured a HUD 221(d)(4) loan for long-term, fixed-rate financing. Cary Clarke Current Role: Founder, Founders Development Company Based in: Dallas-Fort Worth, Texas Say hi to them at: www.foundersdevelopmentcompany.com or cary@foundersdevelopmentcompany.com Post your job for free at https://www.linkedin.com/BRE. Terms and conditions apply. Join the Best Ever Community  The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It's free to join, but you must apply and meet the criteria.  Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at ⁠www.bestevercommunity.com⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Title: Why the W-2 Grind Will Never Make You Wealthy with Jamie Bateman Summary In this engaging podcast episode, Jamie shares his journey from being a competitive athlete and military officer to becoming a successful entrepreneur in the field of real estate and mortgage note investing. He emphasizes the importance of discipline, teamwork, and taking ownership of one's financial situation in achieving success. Jamie discusses his transition from a W2 job to entrepreneurship, highlighting how he leveraged his experiences and strengths to build multiple streams of income. He shares insights about his current business model centered around mortgage note investing, explaining the differences between performing and non-performing notes, and elucidates the challenges and opportunities present in this field. The discussion also emphasizes the importance of long-term planning and learning continuously, making the case that discipline ultimately leads to freedom and flexibility in life. Links to Listen and Subscribe: https://podcasts.apple.com/us/podcast/from-military-officer-to-mortgage-note-master-one-mans/id1618672867?i=1000643495099 Links to Watch and Subscribe: https://www.youtube.com/watch?v=t6nU0TtMAFc Bullet Point Highlights: Athlete to Entrepreneur: Jamie shares how his background in competitive sports instilled a sense of discipline and teamwork. Financial Ownership: Jamie discusses the importance of taking ownership of your financial situation and actively seeking improvement. W2 Quitter: The transition from a stable government job to entrepreneurship reflects Jamie's journey of self-discovery and ambition. Mortgage Note Investing: Jamie provides insights into both performing and non-performing notes, illustrating how to generate passive income through debt investing. Value of Networking: He emphasizes the necessity of building a strong network for finding investment opportunities in mortgage notes. Continuous Learning: Jamie advocates for lifelong learning, suggesting that successful people always seek new knowledge and skills. Long-Term Vision: He stresses the importance of setting long-term goals and reverse planning to maintain focus on achieving one's aspirations. Transcript: Jamie what's going on brother welcome to the show thanks Seth this is this is awesome um I'm excited to be here and I'm hoping to add some value absolutely man third time's a charm we've been trying to get this scheduled after I was on your show which was fantastic had a really good time uh on that show and I think it turned out pretty good so I know we're gonna absolutely we're gonna deliver on this one as well yeah we're GNA try to try to I'll try to do as good a job as you did so yeah that was that   was uh yeah no I that was a very very good episode from adversity to abundance I would highly recommend your your listeners check that one out to your episode on that show so thanks for thanks for doing that absolutely man you're an incredible interviewer I've I've that's the only uh I've been on dozens of podcasts and you know you pulled out a lot of things for me that I've I've never talked about on the air so it's pretty pretty awesome pretty awesome show man appreciate that cool man well let's just jump right into your   background man what's your story um take it back as far as you'd like to brother yeah um man uh I'd like to think that life has phases so I've had a few different phases in in my life um you I come from a a large uh family I'm I'm the oldest of seven kids and we always had a competitive uh background as far as team sports and things like that so um I played lacrosse in college that was always a foundational piece of of uh my life and just kind of I think from there learned how to be a part of something   bigger than myself and how to work toward a common goal with a with a team so that's been something that's been a a kind of a thread through my life and then um got married and uh joined the military and um actually joined the military technically before I got married but seemed like I got married and then ran off and and uh ran away from my wife but it's not exactly what happened but uh joined the military was an officer in the in the US Army did I did miss my first three wedding anniversaries through deployment and   things like that um and again it was a matter of trying to be plugged into something you know to serve and be a part of something bigger than myself and trying to trying to add value like I think we all we all want to do um I've obviously glossed over a lot of lot of details but those were uh a couple of inflection points I guess if you will um like you like to talk about I know um and so my military career transitioned into uh a a career with the Department of Defense as a civilian and um did 14   years as a civilian with DOD at Fort me and the first half so the first seven for all you math whizzes out there uh was full-time and then the second half the second seven years was part-time and that seven years is when I was really building my businesses which are largely um real estate investing and mortgage node investing Focus so we can get into the details there and then in 2022 I ended up quitting my job and and um now I have a few different small businesses that I run and like you Seth I've got a got a   lot of different things that I'm juggling and uh you know so but yeah I love talking about taking ownership of of your financial situation and taking ownership of your your life really and um I know that you and I have that comment so yeah that's a that's a high level overview of my background awesome man I appreciate that that there's a lot to unpack there you know going back to you know playing sports all the way up to the Collegiate level that's incredible I always like to to think even playing like poporn or football   back in the day you need a way to instill discipline in yourself and I I that's kind of the the oldest memory I can think of where it was hard right like it was like you've got a coach screaming at you like back in the day it's like you know they wouldn't give you water unless you like you know for like an hour which I don't think they do that anymore now but you know you had to earn that drink of water and and all those sorts of things but you you really learned what it's like to to work hard and you really learned what discipline   was all about and I would say that and you can you can expand on this but yeah I would say that you know being in the military yourself that takes it to a whole new level right it's like you you you got that from Sports you got that from the military yeah definitely I mean obviously they're very different in a lot of ways but that is certainly a common theme is is being disciplined and um and people people shy away from that word um because it just sounds like work or or no fun and no flexibility but I found that having   discipline in your life ends up adding more freedom in a sense um because you kind of have your foundational pieces set in stone you don't have to think about those and so um yeah regarding team sports it's it's really a matter of um you know everyone doing their part right and so there's a level of individual discipline and um and then just and then also just kind of putting the putting the group ahead of yourself um obviously the you know you want individual there's nothing wrong with individual accolades and I I was   certainly uh chasing you know those individual accolades it's not something I shied away from I was you know I definitely was wrapped up in trying to be an All-American and um that kind of thing and and did get that a couple of times you know but it at the end of the day nobody really cares about that and um the way I viewed it was if I was doing my part and I got those you know if I was scoring goals in Lacrosse as an example that means I'm contributing to you know to the team right and so there's obviously a fine   line there but of going too far either way um but yeah that discipline is critical you know even C I played at a high level in college and and there was year round you're training you're you're uh you're into it it was a division three school but it but the reality was we worked just as hard as any any D1 program and um yeah it's it's a these are skills that have paid off and are absolutely transferable to the rest of of life for sure yeah I think you've got to get those those intangible things you've got to develop   them somewhere along the way whatever whatever that is if that's Sports the military or you know from your parents I mean you can get it from different places but you definitely need it I mean you know we're in different stages of our life at this point we're talking about a lot we like talk about freedom and flexibility and fun um to try to get away from kind of the W2 uh mindset but in order to achieve Freedom flexibility and fun in a successful way you had you have to be disciplined to be able to get   there you you had to have done something successfully to be able to get there or maybe what separates you from you know the guy living in a van down by the river right like that guy that guy has Freedom flexibility um I don't know about fun maybe fun but yeah but you know it's it's a different obviously it's a it's a different outcome yeah and I I I still I think I still need you know I still use a lot of discipline today it's still still required but it's I guess I guess it's self-imposed and um you know I just love   love having that flexibility and that freedom um that comes along with being an entrepreneur so yeah it's been a central piece to my success for sure um but I I I still I don't think it ever you know goes away I just get to pick and choose what you know what discipline I want to kind of enforce on myself I guess um so yeah absolutely and and and as you said I the military was a huge part of that for me as well I mean that's a different kind of different kind of discipline and different kind of teamwork and different you know if you   lose a lacrosse game okay you lost the lacrosse game but military the stakes are a little higher um so maybe certain things are more important attention to detail are crit is critical and um but at the end of the day it's yeah it's that the same principles apply across both I I guess sectors if you will for sure for sure so let's dive into that that transition you started working kind of part-time there for seven years so that seems like a transitional period how are you able to progress from you   know that W2 and what what I've heard you say is call yourself a W2 quitter and I love that um you know how were you able to progress from a W2 person to a W2 quitter what enabled you to do that and what that transition looked like I mean you know I do remember in 2015 probably a little bit maybe maybe say 2014 but I just you get you know I had a wife and two kids and I had the commute the long commute that I I know a lot of people can identify with so um it it just was Groundhog Day it was the same   thing over and over and over and that's not me sitting here complaining about my family or having a having the opportunity to work um but after a while it gets old let's just be real right so it's like you're sitting in traffic and I just you start looking at you know I was I worked for the government and you look around you say who okay who's sort of ahead of me on this like you like I I think you probably mentioned on our on your your show on my my show your episode um you look around to the people   who are more kind of Al further along the path than you you say do you want to be that person is that the life you want and man I did not want that and um it just just having that just super long-term just you know the pot at the end of the rainbow I guess uh nothing driving me in the in the interum man it was it was just it was brutal so I probably did a little woes me for a little bit there a little victim mentality for a bit but then you start to realize like okay if you don't take ownership of your own life no one's   going to right so no one's going to come in and do this for you so I'm not sure what truly you know created the change in my mindset but my mindset absolutely started to change and I just made a shift and I and I stopped watching cable news I stopped uh just you know stopped paying attention to all the things that I can't control and I couldn't control back then and and started saying no what do I have what are my strengths who is in my who's back to the team thing who's on my team who's you know who's in my   network that I can add value to and who can add value to me so I started looking around and um you know my father was a realtor for many years my brother was a loan officer I we had uh one rental property at the time and so and IID worked at a I didn't mention I worked at a title company and I worked for a mortgage broker before as well briefly so I had this experience that a lot of people don't have and that's you know that that doesn't mean I'm better than anyone it just means these are my strengths so let's point to that and   let's use that so I started really being intentional about focusing on my strengths and my assets that I had in my life right and then another asset that I used to see as a liability was the time in the car so I started listening to podcasts oh you know and and then it turned into wait I don't even want to go into work yet because this this podcast episode is amazing and I'm learning so much you know Bigger Pockets and all the other real estate podcasts and different investing podcasts and um started using   that mental bandwidth instead of focusing on National media stories that I have zero influence over uh here's something that I can actually take action on and so um in mid 2015 uh I I I went part-time and and just so happens that at uh DOD it's one of the few agencies in the in the federal government where you can go part-time and still keep your benefits so I still had health insurance for my family you know most people don't have that option necessarily but oh oh well I did so that's what I did and and um you   know that's uh again decided decided to start building my my other streams of income outside of my W2 um had my circumstances been different if I was single I probably would have just quit the whole thing right but I was able to have that kind of laded approach I guess or tiered approach to kind of ripping off the Band-Aid yeah yeah no that that that's awesome I love just the idea of of taking ownership of your your life right like everybody has those moments where they're feeling sorry fors um but but the successful people they   don't sit there and stay in that that mindset they they move on they you're going to be there sometimes but you've got to get out of and you got to say okay what what can I control what can I change and you don't say you don't give other people the power to control you and your mindset and how you feel about your life right like that's that's that's the thing like if if you if you're constantly blaming someone else or saying this happened to me rather what can I do to get myself out of it then you're going to be stuck there   forever you're you're going to be you're going to be spinning your wheels forever um and a lot of that I think helps because you said you don't listen you don't watch the news I don't either it's a waste of time what control what does that do for us it's if I do watch it I literally do it for entertainment and you look at it as an entertain I look at it like I'm watching sports almost absolutely I I look at it like this is funny like I can you know what I mean you kind of analyze like this is funny   this guyy saying this in a debate this guy's saying that it's not taking it as fact and news and this is how I should live my life because of what they're saying absolutely and it's not to say that none of these topics are you know important right I mean right Glo Global you know war or I mean politics poverty global warming whatever that's all very important but I have zero control over it almost zero right and then um you know the other thing is fear sells and that's that's what they're selling and so doesn't mean that every   story is invented and it's all fake fake news but it it just doesn't serve me and so I'd rather focus on you know go ground up and kind of uh you just I see it in people maybe older people in my own life now who maybe are retired and and they watch the news all day and it's like they won't travel because they saw a news story that the airports are packed or something and you know it's I'm sure that story was was accurate right but it but the but the news can filter out and and you end up only focusing on the negative really and   it just didn't serve me so yeah um during that La the second seven years I was able to build out my wife and I were doing single family real estate investing and doing a lot of the Burr method that maybe some of your your audience is familiar with uh um and so kind of putting that Capital back into the the rental property um machine and expanding our portfolio um and then eventually last year Well in in 2018 I made the pivot I kept the rental properties but made a pivot to also add on mortgage not   investing and that's been my primary focus as of late um and uh if you want I can tell the story quickly about how I actually quit my job in 2022 I I think it's kind of kind of a funny one absolutely let's do it all right so um I uh so two years ago uh I was playing bad mitton and um I'd been doing now mind you I used to be like tough you know athlete and like I did you know did Jiu-Jitsu for three years right up before this and you know used to lift Waits a lot and still do it here and there but you know I think I'm tough   right and uh ruptured my achilles playing bad mitton so that's an ego blow uh to add on to the physical pain that you know especially with the recovery so I ruptured my achilles a little over two years ago today and um I was out of work it was my right right foot and the reason I bring this up is not for sympathy but um to say you know I couldn't drive for three months so I actually yeah and I had tons of leave from from work and by this time I was tired really tired of my I was pretty much checked out like I think you you   might have been at your uh your big law uh job but um that's right I was I was checked out I mean I I wasn't the best employee at this point and so I took as much leave as I as I could you know reasonably right and so but couldn't drive and so I was out for three months and I come back so come back into work and I'd had discussions with my wife about about leaving it was just a matter of of when not if um I can tell you truthfully had no idea that I was going to quit this day but I came back in from   having been out for three months mind you no one gave me a call no one from work no one from my management gave me a call the entire three months I was out other than to say to ask me are you vaccinated because you have to be vaccinated to be to get inside the building now I don't want this to turn into some controversial vaccine discussion or get your your podcast banned from something but um yes I'd been vaccinated to to answer the question but no one asked me how's your how's your recovery going like how what   do you you know how's your life you know what's it's just are you vaccinated you need to get that shot before you come in okay great thanks I really feel welcome here so I'm already just you know you know what screw this place right um come back in and just go to my desk and this is this is an office space kind of thing where I go to my desk and there's some there's an a force kid at my desk and long story short they' kind of move me somewhere else without telling me I can't find my desk I finally find it   it's got a box with my name on it with you know monitors sideways and all and clearly not a functioning uh desk and um you know office space so I literally quit that day and I just say that it's just like I knew 100% I was done I my wife didn't know I was I quit but I I quit that day still worked for another month or two but I I was there was no question zero question in my mind I'm done with this place so uh that was March of 2022 and ever since then I've just focused on building out my businesses and having   looked back that's awesome sometimes you just know right like sometimes it's time you just knew I I love that story man for me it was a little bit you already know the story but you know for me it was a little bit more of someone else's decision I got fired I mean and men that you know you you weren't the best employee at that point correct you know I knew the same thing and it's great to have awareness and perspective and kind of looking back now you're like I would have done the same thing like this guy   doesn't want to be here his output isn't what it should be like nope he's got he's got to go I mean he's not he's not the best employee and and as a you know as a business owner now I can you know I have really good perspective of that and and seeing that and they did they were doing me a favor by being like hey like your heart's not in it is it and I'm like no it's not it's not yeah yeah the reality is for me it's really hard to work you know when once you go part-time I mean I knew I was casting a vote   against my career progression there so as soon as I went part-time in 2015 I wasn't saying I'm in this for the Long Haul guys this is this is my focus you know it's the writing's somewhat on the wall looking back it's almost surprising I lasted as long as I did um but so yeah uh haven't looked back and just love love the entrepreneurial you know day-to-day and freedom that you alluded to and and just the multiple streams of income and certainly has its challenges I I probably work harder now than ever   than I ever have um but it's by choice right so I love it exactly same here man I mean it's you know my my days are long I mean I I get up way before I used to get up when I when I had a 95 I worked past when I would have worked a 9 to-5 and it definitely more hours but when you're doing it for yourself and you're doing it because you're working towards something that you believe in yeah it doesn't feel like it's you're putting that much time in definitely I I wake up early a lot of days it's not not on   purpose it's because I'm just excited to get Kracken so yeah yeah absolutely yeah well let's let's kind of get into your current business I know you you had mentioned that you focused on your strengths and your assets um and you know I think it's important I'll just I'll just say it's important to take an inventory of what your strengths are when you're kind of considering going into something else um because a lot of our listeners are attorneys they're doctors folks like that they kind of feel like maybe they're they're pigeon   hold right like well if I'm not an attorney what the hell else can I do right like I don't know anything about real estate investing or node investing or starting a business or anything like that but if you really take a step back you you probably have a lot of skills that you've learned and honed in your career that you can use for something else moving forward and that was that's what you were able to do definitely and one thing I'd say is that um you know one thing that's always comforting for   me is nobody knows everything right so you can always find somebody who knows more than you in a certain area um you know there's one quote about every man is my Superior in in in something right so um basically it gets me a lot of comfort to know like just because an attorney listening to your show knows way more than I do about a particular topic and probably many many other topics that doesn't mean I'm less of a person or you know I don't know more than that attorney does in another area so it's   okay I'm never going to know everything there are other people who've already figured it out so um you know that's that's always comforting to me is and when I say look to your strength it's also looking to the people in your network who know and can help you get to where you want to go um so yeah I mean so many things we take for granted that we do know and um you know example when I started working at a title company fresh out of college because it was my first real job and it paid you know a a   salary um I realized quickly how little I knew about title insurance settlements you know just just basic stuff now looking back pretty basic stuff but you don't know that unless you work for a title company or you're heavily involved in this you don't you're not trained in that in school typically right so you know you forget and so your your listener out there the the attorney the doctor I guarantee they have a lot of life experience not just from their professional world but just life experience that that they shouldn't take   for granted and the fact that you can go through law school and then be you know Be an Effective attorney or go through medical school and Be an Effective doctor that that means you you can learn things right and so again I go back to life has Seasons I mean you've shown that in your own story Seth like you know um it's uh it doesn't mean just because I started a certain business doesn't mean that's going to be what I'm going to be doing for the next 20 years or just because I'm an attorney now   doesn't mean that's what I have to do for the rest of my life so we always have options I mean you might look back and wish you'd done something differently or something but you only have one chance at this and so you know you just make the most of it and and just keep I think keep learning constantly um is critical I I just hired a business coach we've had one call um but one of his motos is um you know one of his sayings is that he's always he's in permanent beta so he's always changing always improving he's always   growing so I'm trying to trying to implement that as well yeah I love that permanent beta I haven't heard that before but I like that I like that phrase like that phrase um so tell me about your current business tell me about mortgage node investing start with the basics um sure what is it yeah so and and I'll try to keep it uh there's so much to it but again none of it is difficult it's just a lot of moving parts and you've got to you know it takes time to learn um we buy debt so we buy a mortgage note   and that could be performing or non-performing the the real highlevel version is is um a performing note is kind of like a a long-term Buy and Hold rental property but you're buying the debt and becoming the lender becoming the bank if you will um and so you're buying that performing note for cash flow so I buy a performing note the barer now pays me through a loan servicer and I get monthly payments so that's a great way to go the the problem with that is you can't really add value to that asset very well you're kind of   it is what it is and in fact with mortgage notes the value actually goes down over time generally speaking because the principal balance goes down so it's just it's worth less than you know than uh you know than it would than it was when you bought it then on the other side the non-performing side of things we buy those uh as well and those are more like a Fix and Flip property so um although we're still buying the debt we're not buying the property but there's a chance to add value There's an opportunity to buy distressed asset and   add value to that asset and then sell that that non-performing note either well I should say sell that asset whether that's as a rep performing note or as uh through the the real estate itself there there are a few different ways you can exit a non-performing uh note deal and but but back to your kind of one of the the themes um thus far one of the reasons I got into specifically that space was that I understood the real estate space so I understood the single family residential real estate space so it wasn't a huge   leap for me to go from owning the property to now owning the debt on that property whereas it would have been a lot bigger leap for me to say oh I want to start buying distressed you know multif family debt um which I know you could probably help me understand better but that you know it's like incremental progress and and and change isn't that scary so I kind of expanded my um you know toolbox if you will and got into the mortgage note space so we have a couple of note funds one is open um currently and they're they're they're   all for accredited investors um and uh the the income fund that's open pays a monthly uh aims to pay a a monthly uh per referred return I know you and a lot of your listeners are attorneys so I got to hold the line here and uh so the fund is structured to pay uh to aim to pay a a monthly return uh of 8% it's not a there's no growth in that fund it's literally a cash flow play and um diversification play you're putting your your capital in we buy assets across the country we we've bought notes in in probably 25 States at this point   um and so the investment is Diversified across Geographic areas across borrower types and um you know we buy for a certain yield we take a small management fee and then we um ideally uh pay a pay the preferred return that we're aiming for to our to our investors yeah nice 506c you're able to talk about it it's uh ACC credit investors only just want to throw that out there um so yeah I mean so just going back to the basics a little bit and we'll get back into the fund like how do you how do you even   find these things I mean how do you get started how do you find these things so I mean that is an ongoing challenge I'm not going to lie to you that's one of the the things that truthfully a a passive investor who doesn't have time to to develop the network to go find these assets they're just not going to have success um you know they might here and there but it takes time it's a it's a word of mouth industry just like real estate itself is and um so we've built out a network of of Sellers and you know that could   be quite honestly I I've never had luck buying directly from Banks it's really either a larger uh mortgage note fund that's closing so it might be a three-year fund and then they've got to they've got to liquidate they've got to figure out how to sell off what to do with these assets um and so that's a great opportunity to buy is just a fund that's closing or somebody a note investor who's getting out of note investing or they've had a life change or something um you know where they just uh there's an opportunity to buy from   them as well um and so there there are other you know I guess we buy from hedge funds note investors other note funds um those are there are also note Brokers as well out there um there are also some online exchanges like paper stack and a couple of others that you can go and I've bought and sold on on paper stack and other exchanges as well um and you know you can you can find assets there um but at the end of the day we have our list that we list of people that we work with regularly and I would say one thing   is that doing due diligence on a note seller is just as important as uh due diligence on the assets that they're selling and so it's it's taken some work and it's it's a work in progress always um but it is the million-dollar question is where do you where do you find these assets yeah so that's that's the hard part right that finding these assets is the hard part um have you ever had to foreclose on on any of these notes and actually acquire the property and I guess a followup question is do you ever   look at a non-performing note like hey I actually want to own that property great questions yeah great questions um to be clear we're not trying to kick people you know Grandma out on onto the street or anything like that um you know that's not our our goal typically well that's never our goal but we're never trying to kick someone out of their home um but the reality is some people honestly need a little bit of a kick in the pants and often times that's not really the best them staying in the house is not often   The best scenario for them I know that might sound sound harsh but at the end of the day if someone can't afford to live somewhere sometimes these people are living in squal and they really need a change of of environment um to answer your question about do we target the property yes sometimes we do in fact we just closed on two they're called uh heckum loans or reverse mortgages where the borrowers are deceased the property is underwater meaning you know the the loan amount is high greater than the   property value and it should be a quick exit through the property so HUD will sell off these uh big pool of of reverse mortgages and we were able to purchase two of them very recently it's a vacant property you're not doing an eviction borrower is deceased you've got to work through the airs or or foreclosure um and get and exit the property that way um if your listener wants to go to my website I've got a really good um it's a Jacksonville blog post I've got a couple of blog posts about this deal I still hold this rental   today and it was a non-performing note that we purchased a few years ago and um I had no intention of exiting through the property or holding holding the the property as a rental property but uh running the numbers it just was too good to to let go and so long story but we we uh you know ended up doing a deed in Lee of foreclosure actually in this case and got the property back and now it's a long-term Buy and Hold property for my own rental uh portfolio yeah that makes sense that makes sense there's there's always   multiple ways to look at an investment right um but it does sound you know is not something that that I've executed on myself but it sounds like this is an active business right and that's why you've put together an income fund for people that want to get involved passively um because as as everybody knows there's active Investments there's passive Investments if you're going to do something active maybe your returns are going to be a little bit better but you're going to give up a lot of time and effort to to get those returns   um so if you want to go to the passive side if you if you're still full-time in your career you're you're a full-time doctor or lawyer or or whatever you are you know these passive Investments are the way to go without having to know every single detail about a new business yeah and I don't know if you can see this but I I wore this specifically for your for this show there it is there it is passive income um you're absolutely right you know these gurus some of the some of the node investing gurus out   there will try to sell you know notes as passive um we have another blog post that talks about uh just the it's a spectrum there's active and passive on either end but at the end of the day if you're gonna node investing in my world is very very active and we have a non-performing note fund that's considerably more active than the Performing note fund so um you're dealing with foreclosures bankruptcies deed and L tracking delinquent property taxes do I have to physically go anywhere no but it is not passive um but   that's why we offer the passive investment to for you know people who like you said have maybe more Capital than time or energy and they want to put that Capital to work that's right there there are certain gurus out there that you know whatever it is that they are pitching it's they they tend to always pitch it as as passive even though it is an active business whether that's ma money yeah whether that's a mortgage note or I mean people pitch Airbnb short-term rentals as passive they're like well you can delegate this and you   can you know you can automate that and there's software for all these things but you still got to put all that stuff together you've still got to monitor all those things you you've still got to you still got to oversee all these different aspects of a business and that's what it is it's a business that you're running and it's not passive like it's not it's not and and it is on a spectrum some things are more passive than others but when you're inves in you know as a passive investor into some sort of a   fund or a syndication that's really leaning really far into the the passive side absolutely 100% and I and I'm as you are Seth I'm I'm I'm I I assume you are I know you're an active investor but I I do have passive Investments myself in other other funds other note funds and and my own my own note funds as well and so nothing wrong with doing both but I would say you need to be careful about you know you got to make a decision at some point do you want to scale this thing and and make this really a   business or do you do you are you satisfied with potentially a little bit lower return and you are giving up some control but much you know much fewer headaches and just a lot less work right right yeah and a lot of you know a lot of the listeners are high income earning professionals so they've already dedic put a lot of time and effort into being able ble to earn this much money from their W2 and absolutely that's probably your best bet to be honest with you I've been there I was in those shoes you're   probably better off putting your head down like let's grind for a few years let's let's not spend every single dollar that we make on all the new stuff on a on a new car every two years or every year in a bigger house that you don't need like let's set aside some of that and invest it passively and then maybe one of those will stick maybe one of those passive investments will be a mortgage note fund where you're like man I kind like this business like I like the sound of it I've learned about it   and then you start maybe progressing on the active side and maybe that takes over and and you want to get into that as a as a business as an entrepreneur but um a great way to kind of dip your toe in the water is to become a passive investor um that's the way that I did it into you know multif family syndications I invested passively in a number of deals first and kind of learned about it learned the ropes and I'm like I can do this and then that's when I made the transition yeah definitely it's it   really comes down to what you what your goals are and what your situation is for sure I I'll say I was too passive initially when I went into notes um because personally I just don't you're you're you were probably a little better student Seth not that I was a bad student but you know I I invest unless I'm actively in investing you know I'm just not going to learn a lot so the reality is yeah it's fine to learn about the asset class you definitely should learn about the operator for sure if you're putting Capital with them but   you're not going to once you're getting your checks and your dispersements you're not going to probably learn a whole lot about how to do that on the active side and so that's what we're here for yeah yeah it's more of like a spark of an interest right like may you already have that spark and then you invest passively then you're like okay well now I'm invested like let me learn about this you have to you have to actively go out there and educate yourself and network and talk to people that are in the business definitely 100   per. all right man before we jump into the Freedom Four you have one last gold nugget for our listeners oh man um I would say within when it comes to investing um you know take the long-term view um don't chase immediate returns um you know I do think just yeah it's certainly we all want to make a million dollars tomorrow but I think it's it's play the long game when it comes to investing I think that's critical love that man all right let's jump into the Freedom Four what's the best thing you do to keep your mind body   healthy yeah I mean one thing that I instituted this year actually um is breath work and it's um you know it's so it takes 10 minutes um and per day for me at least and it's been phenomenal and it's something that quite honestly as a as a you know athlete back in the day or even in the military I would have scoffed at something like this to be honest with you because it's just you know it's not manly or whatever it's like it is phenomenal so uh breath work I mean I do other things for sure but that's certainly this year it's been a   game Cher for me I just feel like it resets my central nervous system and it just gets me focused and uh I know there are other physiological benefits that you can ask uh Dr Andrew huberman or somebody else about cool I have to look into that actually have I mean obviously everybody talks about it's a Hot Topic I haven't gotten into it I haven't gotten into that plus like the cold plunges and that sort of thing um but I really want to explore that a little bit I don't know how much you can cut this out if we   don't have time but I had a I'm just going to be be open about this I just had a you know in late December I got a viral infection like a neuro virus and then I had I had a what I think was a pretty severe panic attack and it was super scary and so that's why I started uh doing this and somebody on my team actually sent me a a I guess we'll call it an implement or a tool that uh I use for the breath work it's BL there's a Bluetooth connection to your phone and it's pretty cool so it's structured and   back to that discipline right but um yeah so it's there was a reason I started doing it and um it's it's so accessible five to 10 minutes a day you can start doing it so yeah very cool highly recommend cool thanks for sharing that man um with all your success what is one limiting belief that you've crushed along the way and how did you get past it um I think just uh you know being afraid to you know that you have to be perfect right so um I used to be an editor back in the day and so many things would just not get done   or not get completed within our team our organization um because it had to be perfect and and it's like I think as I've progressed into more of the entrepreneurial lifestyle and and uh it's just it's not a it's not an option anymore um so um yeah I think just taking action has kind of overcome that limiting belief of of of chasing Perfection yeah yeah I can I can I can agree with you there done not perfect um as you know my background as an attorney I mean we're we're paid to be perfect like we can't make mistakes especially   in contracts and the way that we write things but when you kind of make that transition over to being an entrepreneur there's too much there's too much to to be to be perfect you got you just got to get it done good enough absolutely good enough has to you have to be open um willing to accept that for sure y what's one actionable step our listeners can do right now to start creating more freedom so I'll use the military here you can um which is where I learned U kind of reverse backwards planning reverse   planning so literally just and I'm not going to tell you I'm perfect at this um but you know think about what create a vivid vision for your life in in the next three to five years pick a pick three years out from today and what do you want your life to look like and then backwards plan and now I'm not saying you need to plan every minute of every day but you can be that will that will increase the urgency uh sense of urgency in your life and the intentionality of every every hour and every day because you realize this is   doable but I got to take ownership of of my current situation if I want this to be the reality in three years so I would say create a vivid vision and and kind of reverse or backwards plan to get there perfect perfect last but not least how has passive income made your life better yeah I mean I think in multiple ways but a big one that stands out is is giving me I guess we'll call it margin um to take some more risks on the entrepreneurial side and because I do have alternative sources of income   passive income um it's allowed me that kind of mental and financial bandwidth or margin to maybe invest in a company that even if it doesn't per go perfectly it doesn't go well it's not profitable that's okay I still have that cushion um for for me and my family so that's yeah it's a huge it's been a huge factor in that regard yeah absolutely Game Changer man it just changes your mindset changes your life in so many ways uh Jamie this has been incredible dude you've got so much great content to to share in your   brain man you got to get it out there um I know you've got an awesome podcast that I was on adversity to abundance everybody should check that out um other than that Jamie where else can people find out more about you yeah just two things I'll mention very quickly uh literally got my book delivered today like an hour before I hopped on here it's uh from adversity to abundance it is based on the podcast so I encourage your listener to check that out from adversity to abundance is the book that's out and then Labrador   lending.com l b r a d o r.com is where you can check us out all right man awesome I'll drop all that in the show notes thanks again for coming on brother thanks for having me Seth this has been great Links from the Show and Guest Info and Links: https://www.youtube.com/watch?v=t6nU0TtMAFc https://www.instagram.com/p/C2sKtrAPX50/ https://www.facebook.com/permalink.php?story_fbid=pfbid029mGsZgw2DFvrvFV6QPkwf2U2ewUxCGoRmnjGvuBicaWmM9oHWbemP7NCVFFXz8jxl&id=100089126144055   Seth Bradley's Links: https://x.com/sethbradleyesq https://www.youtube.com/@sethbradleyesq www.facebook.com/sethbradleyesq https://www.threads.com/@sethbradleyesq https://www.instagram.com/sethbradleyesq/ https://www.linkedin.com/in/sethbradleyesq/ https://passiveincomeattorney.com/seth-bradley/ https://www.biggerpockets.com/users/sethbradleyesq https://medium.com/@sethbradleyesq https://www.tiktok.com/@sethbradleyesq?lang=en   Jamie Bateman's Links: https://x.com/batemanjames https://www.facebook.com/batemanjames https://www.threads.com/@batemanjames11? https://www.instagram.com/batemanjames11/ https://www.linkedin.com/in/jamie-bateman-5359a811/ https://labradorlending.com/about/

Title: Why the W-2 Grind Will Never Make You Wealthy with Jamie Bateman Summary In this engaging podcast episode, Jamie shares his journey from being a competitive athlete and military officer to becoming a successful entrepreneur in the field of real estate and mortgage note investing. He emphasizes the importance of discipline, teamwork, and taking ownership of one's financial situation in achieving success. Jamie discusses his transition from a W2 job to entrepreneurship, highlighting how he leveraged his experiences and strengths to build multiple streams of income. He shares insights about his current business model centered around mortgage note investing, explaining the differences between performing and non-performing notes, and elucidates the challenges and opportunities present in this field. The discussion also emphasizes the importance of long-term planning and learning continuously, making the case that discipline ultimately leads to freedom and flexibility in life. Links to Listen and Subscribe: https://podcasts.apple.com/us/podcast/from-military-officer-to-mortgage-note-master-one-mans/id1618672867?i=1000643495099 Links to Watch and Subscribe: https://www.youtube.com/watch?v=t6nU0TtMAFc Bullet Point Highlights: Athlete to Entrepreneur: Jamie shares how his background in competitive sports instilled a sense of discipline and teamwork. Financial Ownership: Jamie discusses the importance of taking ownership of your financial situation and actively seeking improvement. W2 Quitter: The transition from a stable government job to entrepreneurship reflects Jamie's journey of self-discovery and ambition. Mortgage Note Investing: Jamie provides insights into both performing and non-performing notes, illustrating how to generate passive income through debt investing. Value of Networking: He emphasizes the necessity of building a strong network for finding investment opportunities in mortgage notes. Continuous Learning: Jamie advocates for lifelong learning, suggesting that successful people always seek new knowledge and skills. Long-Term Vision: He stresses the importance of setting long-term goals and reverse planning to maintain focus on achieving one's aspirations. Transcript: Jamie what's going on brother welcome to the show thanks Seth this is this is awesome um I'm excited to be here and I'm hoping to add some value absolutely man third time's a charm we've been trying to get this scheduled after I was on your show which was fantastic had a really good time uh on that show and I think it turned out pretty good so I know we're gonna absolutely we're gonna deliver on this one as well yeah we're GNA try to try to I'll try to do as good a job as you did so yeah that was that   was uh yeah no I that was a very very good episode from adversity to abundance I would highly recommend your your listeners check that one out to your episode on that show so thanks for thanks for doing that absolutely man you're an incredible interviewer I've I've that's the only uh I've been on dozens of podcasts and you know you pulled out a lot of things for me that I've I've never talked about on the air so it's pretty pretty awesome pretty awesome show man appreciate that cool man well let's just jump right into your   background man what's your story um take it back as far as you'd like to brother yeah um man uh I'd like to think that life has phases so I've had a few different phases in in my life um you I come from a a large uh family I'm I'm the oldest of seven kids and we always had a competitive uh background as far as team sports and things like that so um I played lacrosse in college that was always a foundational piece of of uh my life and just kind of I think from there learned how to be a part of something   bigger than myself and how to work toward a common goal with a with a team so that's been something that's been a a kind of a thread through my life and then um got married and uh joined the military and um actually joined the military technically before I got married but seemed like I got married and then ran off and and uh ran away from my wife but it's not exactly what happened but uh joined the military was an officer in the in the US Army did I did miss my first three wedding anniversaries through deployment and   things like that um and again it was a matter of trying to be plugged into something you know to serve and be a part of something bigger than myself and trying to trying to add value like I think we all we all want to do um I've obviously glossed over a lot of lot of details but those were uh a couple of inflection points I guess if you will um like you like to talk about I know um and so my military career transitioned into uh a a career with the Department of Defense as a civilian and um did 14   years as a civilian with DOD at Fort me and the first half so the first seven for all you math whizzes out there uh was full-time and then the second half the second seven years was part-time and that seven years is when I was really building my businesses which are largely um real estate investing and mortgage node investing Focus so we can get into the details there and then in 2022 I ended up quitting my job and and um now I have a few different small businesses that I run and like you Seth I've got a got a   lot of different things that I'm juggling and uh you know so but yeah I love talking about taking ownership of of your financial situation and taking ownership of your your life really and um I know that you and I have that comment so yeah that's a that's a high level overview of my background awesome man I appreciate that that there's a lot to unpack there you know going back to you know playing sports all the way up to the Collegiate level that's incredible I always like to to think even playing like poporn or football   back in the day you need a way to instill discipline in yourself and I I that's kind of the the oldest memory I can think of where it was hard right like it was like you've got a coach screaming at you like back in the day it's like you know they wouldn't give you water unless you like you know for like an hour which I don't think they do that anymore now but you know you had to earn that drink of water and and all those sorts of things but you you really learned what it's like to to work hard and you really learned what discipline   was all about and I would say that and you can you can expand on this but yeah I would say that you know being in the military yourself that takes it to a whole new level right it's like you you you got that from Sports you got that from the military yeah definitely I mean obviously they're very different in a lot of ways but that is certainly a common theme is is being disciplined and um and people people shy away from that word um because it just sounds like work or or no fun and no flexibility but I found that having   discipline in your life ends up adding more freedom in a sense um because you kind of have your foundational pieces set in stone you don't have to think about those and so um yeah regarding team sports it's it's really a matter of um you know everyone doing their part right and so there's a level of individual discipline and um and then just and then also just kind of putting the putting the group ahead of yourself um obviously the you know you want individual there's nothing wrong with individual accolades and I I was   certainly uh chasing you know those individual accolades it's not something I shied away from I was you know I definitely was wrapped up in trying to be an All-American and um that kind of thing and and did get that a couple of times you know but it at the end of the day nobody really cares about that and um the way I viewed it was if I was doing my part and I got those you know if I was scoring goals in Lacrosse as an example that means I'm contributing to you know to the team right and so there's obviously a fine   line there but of going too far either way um but yeah that discipline is critical you know even C I played at a high level in college and and there was year round you're training you're you're uh you're into it it was a division three school but it but the reality was we worked just as hard as any any D1 program and um yeah it's it's a these are skills that have paid off and are absolutely transferable to the rest of of life for sure yeah I think you've got to get those those intangible things you've got to develop   them somewhere along the way whatever whatever that is if that's Sports the military or you know from your parents I mean you can get it from different places but you definitely need it I mean you know we're in different stages of our life at this point we're talking about a lot we like talk about freedom and flexibility and fun um to try to get away from kind of the W2 uh mindset but in order to achieve Freedom flexibility and fun in a successful way you had you have to be disciplined to be able to get   there you you had to have done something successfully to be able to get there or maybe what separates you from you know the guy living in a van down by the river right like that guy that guy has Freedom flexibility um I don't know about fun maybe fun but yeah but you know it's it's a different obviously it's a it's a different outcome yeah and I I I still I think I still need you know I still use a lot of discipline today it's still still required but it's I guess I guess it's self-imposed and um you know I just love   love having that flexibility and that freedom um that comes along with being an entrepreneur so yeah it's been a central piece to my success for sure um but I I I still I don't think it ever you know goes away I just get to pick and choose what you know what discipline I want to kind of enforce on myself I guess um so yeah absolutely and and and as you said I the military was a huge part of that for me as well I mean that's a different kind of different kind of discipline and different kind of teamwork and different you know if you   lose a lacrosse game okay you lost the lacrosse game but military the stakes are a little higher um so maybe certain things are more important attention to detail are crit is critical and um but at the end of the day it's yeah it's that the same principles apply across both I I guess sectors if you will for sure for sure so let's dive into that that transition you started working kind of part-time there for seven years so that seems like a transitional period how are you able to progress from you   know that W2 and what what I've heard you say is call yourself a W2 quitter and I love that um you know how were you able to progress from a W2 person to a W2 quitter what enabled you to do that and what that transition looked like I mean you know I do remember in 2015 probably a little bit maybe maybe say 2014 but I just you get you know I had a wife and two kids and I had the commute the long commute that I I know a lot of people can identify with so um it it just was Groundhog Day it was the same   thing over and over and over and that's not me sitting here complaining about my family or having a having the opportunity to work um but after a while it gets old let's just be real right so it's like you're sitting in traffic and I just you start looking at you know I was I worked for the government and you look around you say who okay who's sort of ahead of me on this like you like I I think you probably mentioned on our on your your show on my my show your episode um you look around to the people   who are more kind of Al further along the path than you you say do you want to be that person is that the life you want and man I did not want that and um it just just having that just super long-term just you know the pot at the end of the rainbow I guess uh nothing driving me in the in the interum man it was it was just it was brutal so I probably did a little woes me for a little bit there a little victim mentality for a bit but then you start to realize like okay if you don't take ownership of your own life no one's   going to right so no one's going to come in and do this for you so I'm not sure what truly you know created the change in my mindset but my mindset absolutely started to change and I just made a shift and I and I stopped watching cable news I stopped uh just you know stopped paying attention to all the things that I can't control and I couldn't control back then and and started saying no what do I have what are my strengths who is in my who's back to the team thing who's on my team who's you know who's in my   network that I can add value to and who can add value to me so I started looking around and um you know my father was a realtor for many years my brother was a loan officer I we had uh one rental property at the time and so and IID worked at a I didn't mention I worked at a title company and I worked for a mortgage broker before as well briefly so I had this experience that a lot of people don't have and that's you know that that doesn't mean I'm better than anyone it just means these are my strengths so let's point to that and   let's use that so I started really being intentional about focusing on my strengths and my assets that I had in my life right and then another asset that I used to see as a liability was the time in the car so I started listening to podcasts oh you know and and then it turned into wait I don't even want to go into work yet because this this podcast episode is amazing and I'm learning so much you know Bigger Pockets and all the other real estate podcasts and different investing podcasts and um started using   that mental bandwidth instead of focusing on National media stories that I have zero influence over uh here's something that I can actually take action on and so um in mid 2015 uh I I I went part-time and and just so happens that at uh DOD it's one of the few agencies in the in the federal government where you can go part-time and still keep your benefits so I still had health insurance for my family you know most people don't have that option necessarily but oh oh well I did so that's what I did and and um you   know that's uh again decided decided to start building my my other streams of income outside of my W2 um had my circumstances been different if I was single I probably would have just quit the whole thing right but I was able to have that kind of laded approach I guess or tiered approach to kind of ripping off the Band-Aid yeah yeah no that that that's awesome I love just the idea of of taking ownership of your your life right like everybody has those moments where they're feeling sorry fors um but but the successful people they   don't sit there and stay in that that mindset they they move on they you're going to be there sometimes but you've got to get out of and you got to say okay what what can I control what can I change and you don't say you don't give other people the power to control you and your mindset and how you feel about your life right like that's that's that's the thing like if if you if you're constantly blaming someone else or saying this happened to me rather what can I do to get myself out of it then you're going to be stuck there   forever you're you're going to be you're going to be spinning your wheels forever um and a lot of that I think helps because you said you don't listen you don't watch the news I don't either it's a waste of time what control what does that do for us it's if I do watch it I literally do it for entertainment and you look at it as an entertain I look at it like I'm watching sports almost absolutely I I look at it like this is funny like I can you know what I mean you kind of analyze like this is funny   this guyy saying this in a debate this guy's saying that it's not taking it as fact and news and this is how I should live my life because of what they're saying absolutely and it's not to say that none of these topics are you know important right I mean right Glo Global you know war or I mean politics poverty global warming whatever that's all very important but I have zero control over it almost zero right and then um you know the other thing is fear sells and that's that's what they're selling and so doesn't mean that every   story is invented and it's all fake fake news but it it just doesn't serve me and so I'd rather focus on you know go ground up and kind of uh you just I see it in people maybe older people in my own life now who maybe are retired and and they watch the news all day and it's like they won't travel because they saw a news story that the airports are packed or something and you know it's I'm sure that story was was accurate right but it but the but the news can filter out and and you end up only focusing on the negative really and   it just didn't serve me so yeah um during that La the second seven years I was able to build out my wife and I were doing single family real estate investing and doing a lot of the Burr method that maybe some of your your audience is familiar with uh um and so kind of putting that Capital back into the the rental property um machine and expanding our portfolio um and then eventually last year Well in in 2018 I made the pivot I kept the rental properties but made a pivot to also add on mortgage not   investing and that's been my primary focus as of late um and uh if you want I can tell the story quickly about how I actually quit my job in 2022 I I think it's kind of kind of a funny one absolutely let's do it all right so um I uh so two years ago uh I was playing bad mitton and um I'd been doing now mind you I used to be like tough you know athlete and like I did you know did Jiu-Jitsu for three years right up before this and you know used to lift Waits a lot and still do it here and there but you know I think I'm tough   right and uh ruptured my achilles playing bad mitton so that's an ego blow uh to add on to the physical pain that you know especially with the recovery so I ruptured my achilles a little over two years ago today and um I was out of work it was my right right foot and the reason I bring this up is not for sympathy but um to say you know I couldn't drive for three months so I actually yeah and I had tons of leave from from work and by this time I was tired really tired of my I was pretty much checked out like I think you you   might have been at your uh your big law uh job but um that's right I was I was checked out I mean I I wasn't the best employee at this point and so I took as much leave as I as I could you know reasonably right and so but couldn't drive and so I was out for three months and I come back so come back into work and I'd had discussions with my wife about about leaving it was just a matter of of when not if um I can tell you truthfully had no idea that I was going to quit this day but I came back in from   having been out for three months mind you no one gave me a call no one from work no one from my management gave me a call the entire three months I was out other than to say to ask me are you vaccinated because you have to be vaccinated to be to get inside the building now I don't want this to turn into some controversial vaccine discussion or get your your podcast banned from something but um yes I'd been vaccinated to to answer the question but no one asked me how's your how's your recovery going like how what   do you you know how's your life you know what's it's just are you vaccinated you need to get that shot before you come in okay great thanks I really feel welcome here so I'm already just you know you know what screw this place right um come back in and just go to my desk and this is this is an office space kind of thing where I go to my desk and there's some there's an a force kid at my desk and long story short they' kind of move me somewhere else without telling me I can't find my desk I finally find it   it's got a box with my name on it with you know monitors sideways and all and clearly not a functioning uh desk and um you know office space so I literally quit that day and I just say that it's just like I knew 100% I was done I my wife didn't know I was I quit but I I quit that day still worked for another month or two but I I was there was no question zero question in my mind I'm done with this place so uh that was March of 2022 and ever since then I've just focused on building out my businesses and having   looked back that's awesome sometimes you just know right like sometimes it's time you just knew I I love that story man for me it was a little bit you already know the story but you know for me it was a little bit more of someone else's decision I got fired I mean and men that you know you you weren't the best employee at that point correct you know I knew the same thing and it's great to have awareness and perspective and kind of looking back now you're like I would have done the same thing like this guy   doesn't want to be here his output isn't what it should be like nope he's got he's got to go I mean he's not he's not the best employee and and as a you know as a business owner now I can you know I have really good perspective of that and and seeing that and they did they were doing me a favor by being like hey like your heart's not in it is it and I'm like no it's not it's not yeah yeah the reality is for me it's really hard to work you know when once you go part-time I mean I knew I was casting a vote   against my career progression there so as soon as I went part-time in 2015 I wasn't saying I'm in this for the Long Haul guys this is this is my focus you know it's the writing's somewhat on the wall looking back it's almost surprising I lasted as long as I did um but so yeah uh haven't looked back and just love love the entrepreneurial you know day-to-day and freedom that you alluded to and and just the multiple streams of income and certainly has its challenges I I probably work harder now than ever   than I ever have um but it's by choice right so I love it exactly same here man I mean it's you know my my days are long I mean I I get up way before I used to get up when I when I had a 95 I worked past when I would have worked a 9 to-5 and it definitely more hours but when you're doing it for yourself and you're doing it because you're working towards something that you believe in yeah it doesn't feel like it's you're putting that much time in definitely I I wake up early a lot of days it's not not on   purpose it's because I'm just excited to get Kracken so yeah yeah absolutely yeah well let's let's kind of get into your current business I know you you had mentioned that you focused on your strengths and your assets um and you know I think it's important I'll just I'll just say it's important to take an inventory of what your strengths are when you're kind of considering going into something else um because a lot of our listeners are attorneys they're doctors folks like that they kind of feel like maybe they're they're pigeon   hold right like well if I'm not an attorney what the hell else can I do right like I don't know anything about real estate investing or node investing or starting a business or anything like that but if you really take a step back you you probably have a lot of skills that you've learned and honed in your career that you can use for something else moving forward and that was that's what you were able to do definitely and one thing I'd say is that um you know one thing that's always comforting for   me is nobody knows everything right so you can always find somebody who knows more than you in a certain area um you know there's one quote about every man is my Superior in in in something right so um basically it gets me a lot of comfort to know like just because an attorney listening to your show knows way more than I do about a particular topic and probably many many other topics that doesn't mean I'm less of a person or you know I don't know more than that attorney does in another area so it's   okay I'm never going to know everything there are other people who've already figured it out so um you know that's that's always comforting to me is and when I say look to your strength it's also looking to the people in your network who know and can help you get to where you want to go um so yeah I mean so many things we take for granted that we do know and um you know example when I started working at a title company fresh out of college because it was my first real job and it paid you know a a   salary um I realized quickly how little I knew about title insurance settlements you know just just basic stuff now looking back pretty basic stuff but you don't know that unless you work for a title company or you're heavily involved in this you don't you're not trained in that in school typically right so you know you forget and so your your listener out there the the attorney the doctor I guarantee they have a lot of life experience not just from their professional world but just life experience that that they shouldn't take   for granted and the fact that you can go through law school and then be you know Be an Effective attorney or go through medical school and Be an Effective doctor that that means you you can learn things right and so again I go back to life has Seasons I mean you've shown that in your own story Seth like you know um it's uh it doesn't mean just because I started a certain business doesn't mean that's going to be what I'm going to be doing for the next 20 years or just because I'm an attorney now   doesn't mean that's what I have to do for the rest of my life so we always have options I mean you might look back and wish you'd done something differently or something but you only have one chance at this and so you know you just make the most of it and and just keep I think keep learning constantly um is critical I I just hired a business coach we've had one call um but one of his motos is um you know one of his sayings is that he's always he's in permanent beta so he's always changing always improving he's always   growing so I'm trying to trying to implement that as well yeah I love that permanent beta I haven't heard that before but I like that I like that phrase like that phrase um so tell me about your current business tell me about mortgage node investing start with the basics um sure what is it yeah so and and I'll try to keep it uh there's so much to it but again none of it is difficult it's just a lot of moving parts and you've got to you know it takes time to learn um we buy debt so we buy a mortgage note   and that could be performing or non-performing the the real highlevel version is is um a performing note is kind of like a a long-term Buy and Hold rental property but you're buying the debt and becoming the lender becoming the bank if you will um and so you're buying that performing note for cash flow so I buy a performing note the barer now pays me through a loan servicer and I get monthly payments so that's a great way to go the the problem with that is you can't really add value to that asset very well you're kind of   it is what it is and in fact with mortgage notes the value actually goes down over time generally speaking because the principal balance goes down so it's just it's worth less than you know than uh you know than it would than it was when you bought it then on the other side the non-performing side of things we buy those uh as well and those are more like a Fix and Flip property so um although we're still buying the debt we're not buying the property but there's a chance to add value There's an opportunity to buy distressed asset and   add value to that asset and then sell that that non-performing note either well I should say sell that asset whether that's as a rep performing note or as uh through the the real estate itself there there are a few different ways you can exit a non-performing uh note deal and but but back to your kind of one of the the themes um thus far one of the reasons I got into specifically that space was that I understood the real estate space so I understood the single family residential real estate space so it wasn't a huge   leap for me to go from owning the property to now owning the debt on that property whereas it would have been a lot bigger leap for me to say oh I want to start buying distressed you know multif family debt um which I know you could probably help me understand better but that you know it's like incremental progress and and and change isn't that scary so I kind of expanded my um you know toolbox if you will and got into the mortgage note space so we have a couple of note funds one is open um currently and they're they're they're   all for accredited investors um and uh the the income fund that's open pays a monthly uh aims to pay a a monthly uh per referred return I know you and a lot of your listeners are attorneys so I got to hold the line here and uh so the fund is structured to pay uh to aim to pay a a monthly return uh of 8% it's not a there's no growth in that fund it's literally a cash flow play and um diversification play you're putting your your capital in we buy assets across the country we we've bought notes in in probably 25 States at this point   um and so the investment is Diversified across Geographic areas across borrower types and um you know we buy for a certain yield we take a small management fee and then we um ideally uh pay a pay the preferred return that we're aiming for to our to our investors yeah nice 506c you're able to talk about it it's uh ACC credit investors only just want to throw that out there um so yeah I mean so just going back to the basics a little bit and we'll get back into the fund like how do you how do you even   find these things I mean how do you get started how do you find these things so I mean that is an ongoing challenge I'm not going to lie to you that's one of the the things that truthfully a a passive investor who doesn't have time to to develop the network to go find these assets they're just not going to have success um you know they might here and there but it takes time it's a it's a word of mouth industry just like real estate itself is and um so we've built out a network of of Sellers and you know that could   be quite honestly I I've never had luck buying directly from Banks it's really either a larger uh mortgage note fund that's closing so it might be a three-year fund and then they've got to they've got to liquidate they've got to figure out how to sell off what to do with these assets um and so that's a great opportunity to buy is just a fund that's closing or somebody a note investor who's getting out of note investing or they've had a life change or something um you know where they just uh there's an opportunity to buy from   them as well um and so there there are other you know I guess we buy from hedge funds note investors other note funds um those are there are also note Brokers as well out there um there are also some online exchanges like paper stack and a couple of others that you can go and I've bought and sold on on paper stack and other exchanges as well um and you know you can you can find assets there um but at the end of the day we have our list that we list of people that we work with regularly and I would say one thing   is that doing due diligence on a note seller is just as important as uh due diligence on the assets that they're selling and so it's it's taken some work and it's it's a work in progress always um but it is the million-dollar question is where do you where do you find these assets yeah so that's that's the hard part right that finding these assets is the hard part um have you ever had to foreclose on on any of these notes and actually acquire the property and I guess a followup question is do you ever   look at a non-performing note like hey I actually want to own that property great questions yeah great questions um to be clear we're not trying to kick people you know Grandma out on onto the street or anything like that um you know that's not our our goal typically well that's never our goal but we're never trying to kick someone out of their home um but the reality is some people honestly need a little bit of a kick in the pants and often times that's not really the best them staying in the house is not often   The best scenario for them I know that might sound sound harsh but at the end of the day if someone can't afford to live somewhere sometimes these people are living in squal and they really need a change of of environment um to answer your question about do we target the property yes sometimes we do in fact we just closed on two they're called uh heckum loans or reverse mortgages where the borrowers are deceased the property is underwater meaning you know the the loan amount is high greater than the   property value and it should be a quick exit through the property so HUD will sell off these uh big pool of of reverse mortgages and we were able to purchase two of them very recently it's a vacant property you're not doing an eviction borrower is deceased you've got to work through the airs or or foreclosure um and get and exit the property that way um if your listener wants to go to my website I've got a really good um it's a Jacksonville blog post I've got a couple of blog posts about this deal I still hold this rental   today and it was a non-performing note that we purchased a few years ago and um I had no intention of exiting through the property or holding holding the the property as a rental property but uh running the numbers it just was too good to to let go and so long story but we we uh you know ended up doing a deed in Lee of foreclosure actually in this case and got the property back and now it's a long-term Buy and Hold property for my own rental uh portfolio yeah that makes sense that makes sense there's there's always   multiple ways to look at an investment right um but it does sound you know is not something that that I've executed on myself but it sounds like this is an active business right and that's why you've put together an income fund for people that want to get involved passively um because as as everybody knows there's active Investments there's passive Investments if you're going to do something active maybe your returns are going to be a little bit better but you're going to give up a lot of time and effort to to get those returns   um so if you want to go to the passive side if you if you're still full-time in your career you're you're a full-time doctor or lawyer or or whatever you are you know these passive Investments are the way to go without having to know every single detail about a new business yeah and I don't know if you can see this but I I wore this specifically for your for this show there it is there it is passive income um you're absolutely right you know these gurus some of the some of the node investing gurus out   there will try to sell you know notes as passive um we have another blog post that talks about uh just the it's a spectrum there's active and passive on either end but at the end of the day if you're gonna node investing in my world is very very active and we have a non-performing note fund that's considerably more active than the Performing note fund so um you're dealing with foreclosures bankruptcies deed and L tracking delinquent property taxes do I have to physically go anywhere no but it is not passive um but   that's why we offer the passive investment to for you know people who like you said have maybe more Capital than time or energy and they want to put that Capital to work that's right there there are certain gurus out there that you know whatever it is that they are pitching it's they they tend to always pitch it as as passive even though it is an active business whether that's ma money yeah whether that's a mortgage note or I mean people pitch Airbnb short-term rentals as passive they're like well you can delegate this and you   can you know you can automate that and there's software for all these things but you still got to put all that stuff together you've still got to monitor all those things you you've still got to you still got to oversee all these different aspects of a business and that's what it is it's a business that you're running and it's not passive like it's not it's not and and it is on a spectrum some things are more passive than others but when you're inves in you know as a passive investor into some sort of a   fund or a syndication that's really leaning really far into the the passive side absolutely 100% and I and I'm as you are Seth I'm I'm I'm I I assume you are I know you're an active investor but I I do have passive Investments myself in other other funds other note funds and and my own my own note funds as well and so nothing wrong with doing both but I would say you need to be careful about you know you got to make a decision at some point do you want to scale this thing and and make this really a   business or do you do you are you satisfied with potentially a little bit lower return and you are giving up some control but much you know much fewer headaches and just a lot less work right right yeah and a lot of you know a lot of the listeners are high income earning professionals so they've already dedic put a lot of time and effort into being able ble to earn this much money from their W2 and absolutely that's probably your best bet to be honest with you I've been there I was in those shoes you're   probably better off putting your head down like let's grind for a few years let's let's not spend every single dollar that we make on all the new stuff on a on a new car every two years or every year in a bigger house that you don't need like let's set aside some of that and invest it passively and then maybe one of those will stick maybe one of those passive investments will be a mortgage note fund where you're like man I kind like this business like I like the sound of it I've learned about it   and then you start maybe progressing on the active side and maybe that takes over and and you want to get into that as a as a business as an entrepreneur but um a great way to kind of dip your toe in the water is to become a passive investor um that's the way that I did it into you know multif family syndications I invested passively in a number of deals first and kind of learned about it learned the ropes and I'm like I can do this and then that's when I made the transition yeah definitely it's it   really comes down to what you what your goals are and what your situation is for sure I I'll say I was too passive initially when I went into notes um because personally I just don't you're you're you were probably a little better student Seth not that I was a bad student but you know I I invest unless I'm actively in investing you know I'm just not going to learn a lot so the reality is yeah it's fine to learn about the asset class you definitely should learn about the operator for sure if you're putting Capital with them but   you're not going to once you're getting your checks and your dispersements you're not going to probably learn a whole lot about how to do that on the active side and so that's what we're here for yeah yeah it's more of like a spark of an interest right like may you already have that spark and then you invest passively then you're like okay well now I'm invested like let me learn about this you have to you have to actively go out there and educate yourself and network and talk to people that are in the business definitely 100   per. all right man before we jump into the Freedom Four you have one last gold nugget for our listeners oh man um I would say within when it comes to investing um you know take the long-term view um don't chase immediate returns um you know I do think just yeah it's certainly we all want to make a million dollars tomorrow but I think it's it's play the long game when it comes to investing I think that's critical love that man all right let's jump into the Freedom Four what's the best thing you do to keep your mind body   healthy yeah I mean one thing that I instituted this year actually um is breath work and it's um you know it's so it takes 10 minutes um and per day for me at least and it's been phenomenal and it's something that quite honestly as a as a you know athlete back in the day or even in the military I would have scoffed at something like this to be honest with you because it's just you know it's not manly or whatever it's like it is phenomenal so uh breath work I mean I do other things for sure but that's certainly this year it's been a   game Cher for me I just feel like it resets my central nervous system and it just gets me focused and uh I know there are other physiological benefits that you can ask uh Dr Andrew huberman or somebody else about cool I have to look into that actually have I mean obviously everybody talks about it's a Hot Topic I haven't gotten into it I haven't gotten into that plus like the cold plunges and that sort of thing um but I really want to explore that a little bit I don't know how much you can cut this out if we   don't have time but I had a I'm just going to be be open about this I just had a you know in late December I got a viral infection like a neuro virus and then I had I had a what I think was a pretty severe panic attack and it was super scary and so that's why I started uh doing this and somebody on my team actually sent me a a I guess we'll call it an implement or a tool that uh I use for the breath work it's BL there's a Bluetooth connection to your phone and it's pretty cool so it's structured and   back to that discipline right but um yeah so it's there was a reason I started doing it and um it's it's so accessible five to 10 minutes a day you can start doing it so yeah very cool highly recommend cool thanks for sharing that man um with all your success what is one limiting belief that you've crushed along the way and how did you get past it um I think just uh you know being afraid to you know that you have to be perfect right so um I used to be an editor back in the day and so many things would just not get done   or not get completed within our team our organization um because it had to be perfect and and it's like I think as I've progressed into more of the entrepreneurial lifestyle and and uh it's just it's not a it's not an option anymore um so um yeah I think just taking action has kind of overcome that limiting belief of of of chasing Perfection yeah yeah I can I can I can agree with you there done not perfect um as you know my background as an attorney I mean we're we're paid to be perfect like we can't make mistakes especially   in contracts and the way that we write things but when you kind of make that transition over to being an entrepreneur there's too much there's too much to to be to be perfect you got you just got to get it done good enough absolutely good enough has to you have to be open um willing to accept that for sure y what's one actionable step our listeners can do right now to start creating more freedom so I'll use the military here you can um which is where I learned U kind of reverse backwards planning reverse   planning so literally just and I'm not going to tell you I'm perfect at this um but you know think about what create a vivid vision for your life in in the next three to five years pick a pick three years out from today and what do you want your life to look like and then backwards plan and now I'm not saying you need to plan every minute of every day but you can be that will that will increase the urgency uh sense of urgency in your life and the intentionality of every every hour and every day because you realize this is   doable but I got to take ownership of of my current situation if I want this to be the reality in three years so I would say create a vivid vision and and kind of reverse or backwards plan to get there perfect perfect last but not least how has passive income made your life better yeah I mean I think in multiple ways but a big one that stands out is is giving me I guess we'll call it margin um to take some more risks on the entrepreneurial side and because I do have alternative sources of income   passive income um it's allowed me that kind of mental and financial bandwidth or margin to maybe invest in a company that even if it doesn't per go perfectly it doesn't go well it's not profitable that's okay I still have that cushion um for for me and my family so that's yeah it's a huge it's been a huge factor in that regard yeah absolutely Game Changer man it just changes your mindset changes your life in so many ways uh Jamie this has been incredible dude you've got so much great content to to share in your   brain man you got to get it out there um I know you've got an awesome podcast that I was on adversity to abundance everybody should check that out um other than that Jamie where else can people find out more about you yeah just two things I'll mention very quickly uh literally got my book delivered today like an hour before I hopped on here it's uh from adversity to abundance it is based on the podcast so I encourage your listener to check that out from adversity to abundance is the book that's out and then Labrador   lending.com l b r a d o r.com is where you can check us out all right man awesome I'll drop all that in the show notes thanks again for coming on brother thanks for having me Seth this has been great Links from the Show and Guest Info and Links: https://www.youtube.com/watch?v=t6nU0TtMAFc https://www.instagram.com/p/C2sKtrAPX50/ https://www.facebook.com/permalink.php?story_fbid=pfbid029mGsZgw2DFvrvFV6QPkwf2U2ewUxCGoRmnjGvuBicaWmM9oHWbemP7NCVFFXz8jxl&id=100089126144055   Seth Bradley's Links: https://x.com/sethbradleyesq https://www.youtube.com/@sethbradleyesq www.facebook.com/sethbradleyesq https://www.threads.com/@sethbradleyesq https://www.instagram.com/sethbradleyesq/ https://www.linkedin.com/in/sethbradleyesq/ https://passiveincomeattorney.com/seth-bradley/ https://www.biggerpockets.com/users/sethbradleyesq https://medium.com/@sethbradleyesq https://www.tiktok.com/@sethbradleyesq?lang=en   Jamie Bateman's Links: https://x.com/batemanjames https://www.facebook.com/batemanjames https://www.threads.com/@batemanjames11? https://www.instagram.com/batemanjames11/ https://www.linkedin.com/in/jamie-bateman-5359a811/ https://labradorlending.com/about/

In this episode of Real Estate Lowdown, I sit down with Melissa Justice, broker-owner of Exit Justice Realty, to unpack the reality of the new rules of today's real estate market—from the ground floor to the institutional lens. Melissa brings decades of frontline experience in REO investment, HUD home sales, and residential real estate to a timely conversation that cuts through the noise.We explore how rising interest rates, inflationary pressures, and the recent NAR settlement are accelerating a market evolution that agents and investors alike can't ignore. Melissa offers valuable insights into adapting to new systems, shifting regulations, and the increasing need for short sale and loss mitigation strategies—especially in the face of growing underwater mortgage scenarios.Together, we reflect on the lessons learned from 2008 and how they inform today's approach to financial hardship and distressed assets. And we examine the decline in agent retention and the widening gap between those who innovate and those who fall behind. Agents, this is a wake-up call to evolve with the market—by embracing new strategies, expanding financial literacy, and becoming a trusted guide for clients, beyond opening the door. Reinvention isn't just survival—it's your edge in the next era of real estate.Investors, this is a moment to understand the human side of real estate disruption and position capital wisely in communities undergoing transformation.Connect further with Melissa Justice on LinkedIn https://www.linkedin.com/in/melissa-justice-a5326938/ or https://melissajustice.com.First Lien Capital is your trusted investment partner. First Lien Resolutions is your trusted Special Assets Group partner. Schedule a consultation with Bill to ELEVATE (https://billbymel.com/investor/) or REVIVE (https://billbymel.com/advisor/) your portfolio today.To learn more, visit:https://billbymel.com/Listen to more episodes on Mission Matters:https://missionmatters.com/author/bill-bymel/

What if the biggest slumlord in the U.S. isn't who you think it is? In this eye-opening episode, Dave Dubeau sits down with Sam Sells, a real estate investor and impact-driven entrepreneur, to expose a surprising truth: the U.S. government—through its aging public housing—is the country's largest slumlord. Sam shares how his team is creating a real estate revolution by partnering with public housing authorities to tear down outdated, low-quality housing and replace it with vibrant, mixed-income communities. Sam walks us through the complexities of public-private partnerships, HUD regulations, grant structuring, and how these challenging but rewarding projects offer life-changing opportunities for residents and investors alike. From securing bond funding to implementing on-site childcare, job training, and even AI-powered success tools, Sam's mission is bold—help one million people out of poverty, and do it sustainably. Key Takeaways: The shocking scale of public housing problems in the U.S. How Sam's team navigates complex government funding to redevelop slum properties The power of mixed-use, mixed-income developments to create generational change Why investors are drawn to these projects—and how they yield 3x returns How AI and hands-on support services help residents build a path out of poverty Sam's own show, Disruptive Capitalist, and his mission to create wealth while making a difference   - Get Interviewed on the Show! - ================================== Are you a real estate investor with some 'tales from the trenches' you'd like to share with our audience? Want to get great exposure and be seen as a bonafide real estate pro by your friends? Would you like to inspire other people to take action with real estate investing? Then we'd love to interview you! Find out more and pick the date here: http://daveinterviewsyou.com/

ChangeMaker Yvonda A. Bean, CEO of the Indianapolis Housing Agency (IHA), joins Katie Goar to share her transformative journey as a national leader in affordable housing.  With 25 years of experience turning around crisis-stricken housing authorities, Bean reveals her core philosophy: investing holistically in people—residents, staff, and community partners—is foundational to success. She discusses innovative solutions she's pioneered, from housing formerly incarcerated individuals in Louisiana to partnering with mental health services, proving that creative collaboration can overcome resource limitations and systemic challenges.Now leading IHA's recovery from receivership, Bean details her 12-month action plan, "A New Day and Better IHA," which prioritizes five pillars: people, finances, operations, properties, and partnerships. She highlights the unique support from HUD, city leaders, and local philanthropies—a rare advantage in turnaround scenarios—and explains strategic decisions like selling aging properties to address deferred maintenance. Bean also shares her leadership approach during crises: running toward problems with calm confidence, radical transparency, and an unwavering commitment to residents' dignity.Throughout the conversation, Bean reflects on housing "choosing her" despite early career dreams, and how her lived experience fuels her mission. She emphasizes that progress hinges on remembering "it's not about me"—service to vulnerable families is what sustains hope amid daunting challenges like the industry's $70 billion maintenance backlog. For housing professionals and changemakers alike, this episode offers a masterclass in resilient, resident-centered leadership.

Keith highlights the decline in college town real estate due to demographic changes and reduced international student enrollment.  The national housing market is moving towards balance, with 4.6 months of resale supply and 9.8 months of new build supply.  Commercial real expert and fellow podcast host, Hannah Hammond, joins Keith to discuss how the state of the real estate market is facing a $1 trillion debt reset in 2025, potentially causing distress and foreclosures, particularly in the Sun Belt states.  Resources: Follow Hannah on Instagram  Show Notes: GetRichEducation.com/563 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation   Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, are college towns doomed. There's a noticeably higher supply of real estate on the market. Today is get rich education. America's number one real estate investing show. Then how much worse will the Apartment Building Loan implosions get today? On get rich education.   Speaker 1  0:27   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads in 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Corey Coates  1:12   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:28   Welcome to GRE from Orchard Park, New York to port orchard, Washington and across 188 nations worldwide. I'm Keith Weinhold, and you're listening to get rich education. How most people set up their life is that they have a job or an income producing activity, and they put that first, then they try to build whatever life they have left around that job. Instead, you are in control of your life when you first ask yourself, what kind of lifestyle Am I trying to build? And then you determine your job based on that. That is lifestyle design, and that is financial freedom, most people, including me, at one time. And probably you get that wrong and put the job first. And then we need to reverse it once you realize that, you discover that you found yourself so far out of position that you try to find your way back by putting your own freedom, autonomy and free agency first. There you are lying on the ground, supine, feeling overwhelmed, asking yourself why you didn't put yourself first. Then what I'm helping you do here is get up and change that by moving your active income over to relatively passive income, and doing it through the most generationally proven vehicle of them all, real estate investing for income. We are not talking about a strategy that didn't exist three years ago and won't exist three years from now. It is proven over time, and there's nothing avant garde or esoteric here, and you can find yourself in a financially free position within five years of starting to gradually shift that active income over to passive income.    Keith Weinhold  3:29   Now, when it comes to today's era of long term real estate investing, we are in the midst of a real estate market that I would describe as slow and flat. Both home price appreciation and rent growth are slow. Overall real estate sales volume is still suppressed. It that sales volume had its recent peak of six and a half million homes moved in 2021 which was a wild market, it was too brisk and annual sales volume is down to just 4 million. Today, more inventory is accumulating, which is both a good news and a bad news story. I'm going to get to this state of the overall market shortly. First, let's discuss real estate market niches, a particular niche, because two weeks ago, I discussed the short term rental arms race. Last week, beach towns and this week, in the third of three installments of real estate market niches are college towns doomed? Does it still make sense to invest in college town real estate? Perhaps a year ago on the show, you'll remember that I informed you that a college closes every single week in the United States. Gosh, universities face an increasingly tough demographic backdrop ahead. We know more and more people get a free education. Education online. Up until now, universities have tapped a growing high school age population in this seemingly bottomless well of international students wanting to study in the US. But America's largest ever birth cohort, which was 4.3 million in 2007 is now waning. Yeah, that's how many Americans were born in 2007 and that was the all time record birth year. Well, all those people turn 18 years old this year. This, therefore, is an unavoidable decline in the pool of potential incoming college freshmen from the United States. And on top of that, the real potential of fewer international students coming to the US to study adds to the concern for colleges. This is due to the effects and the wishes of the Trump administration. It already feels like a depression in some college towns now among metro areas that are especially reliant on higher education, three quarters of them suffered weaker economic growth over the past 12 years than the US has as a whole. That's according to a study at Brookings Metro. They're a non profit think tank in DC, all right, and in the prior decade, all right, previous to that, most of those same metros grew faster than the nation did. If this was really interesting, a recent Wall Street Journal article focused on Western Illinois University in McComb Illinois as being symbolic of this trend, where an empty dorm that once held 800 students has now been converted to a police training ground, it's totally different, where there are active shooter drills and all this overturned furniture rubber tipped bullets and paintball casings, you've got to repurpose some of these old dorms. Nearby dorms have been flattened and they're now weedy fields. Two more dorms are set to close this summer. Frat houses and homes once filled with student renters are now empty lots city streets used to be so crowded during the semester that cars moved at a crawl. That's not happening anymore. It's almost like you're watching the town die, said a resident who was born in Macomb and worked 28 years for the Western Illinois Campus Police Department. Macomb, Illinois is at the heart of a new rust belt across the US colleges are faltering, and so are the once booming towns and economies around them. Enrollment is down at a lot of the nation's public colleges and universities starting next year due to demographics like I mentioned, there will be fewer high school graduates for the foreseeable future, and the fallout extends to downtown McComb. It's punishing local businesses. There's this multiplier effect that's diminishing. It's not multiplying for generations. Colleges around the US fueled local economies, created jobs and brought in students and their visiting families to shop and spend and growing student enrollment fattened school budgets, and that used to free universities from having to worry about inefficiencies or cutting costs. But the student boom has ended, and college towns are suffering. And what are some of the other reasons for these doomed college towns? Well, first, a lot of Americans stopped having babies after the global financial crisis, you've got a strong dollar and an anti foreigner administration that's likely to push international student numbers down on top of this, and then, thirdly, US students are more skeptical of incurring these large amounts of debt for college and then, universities have been increasing administrative costs and tuition above the rate of inflation, and they've been doing that for decades. Tuition and operating costs are detached from reality, and in some places, student housing is still being built like the gravy train is not going to end. I don't see how this ends well for many of these universities or for student housing, so you've really got to think deeply about investing in college town housing anymore. Where I went to college, in Pennsylvania, that university is still open, but their enrollment numbers are down, and they've already closed and consolidated a number of their outlying branch campuses. Now it's important notice that I'm focused on college towns, okay, I'm talking about generally, these small. Smaller, outlying places that are highly dependent on colleges for their vibrancy. By the way, Pennsylvania has a ton of them, all these little colleges, where it seems like every highway exit has the name of some university on it. That is starting to change now.    Keith Weinhold  10:21   Conversely, take a big city like Philadelphia that has a ton of colleges, Temple University, Penn, which is the Ivy League school, St Joseph's, Drexel LaSalle, Bryn Mawr, Thomas Jefferson, Villanova. All these colleges are in the Philly Metro, and some of them are pretty big. Well, you can be better off investing in a Philly because Philly is huge, 6 million people in the metro, and there's plenty of other activity there that can absorb any decline in college enrollment. So understand it's the smaller college town that's in big trouble. And I do like to answer the question directly, are college towns doomed? Yes, some are. And perhaps a better overall answer than saying that college towns are doomed, is college towns have peaked. They've hit their peak and are going down.    Keith Weinhold  11:23   Let's talk about the direction of the overall housing market now, including some lessons where, even if you're listening 10 years from now, you're going to gain some key learning. So we look at the national housing market. There is finally some buyer selection again, resale housing supply is growing. I'm talking overall now, not about the college towns. Back in 2022, nearly every major metro could be considered not just a seller's market, but a strong seller's market. And it was too much. It was wild. Three years ago, buyers had to, oftentimes offer more than the asking price, pay all cash. Buyers had to waive contingencies, forgo inspections, and they had to compete with dozens of bidders. I mean, even if you got a home inspection, you pray that the home inspector didn't find anything worse than like charming vintage wiring, because you might have been afraid to ask for some repairs of the seller, and that's because the market was so hot and competitive that you might lose the deal. Fast forward to today, and fewer markets Hold that strong seller's market status. More metros have adequate inventory. And if you're one of our newsletter subscribers, you saw that last week, I sent you a great set of maps that show this. As you probably know, six months of housing supply is deemed as the balance point between buyers and sellers over six months favors buyers under six favors sellers. All right, so let's see where we are now. And by the way, months of housing supply, that phrase is also known as the absorption rate nationally, 4.6 months of resale supply exists. That's the current level, 4.6 months per the NAR now it bottomed out at a frighteningly low one and a half months of supply back in 2022 and it peaked at 12 full months of supply during the global financial crisis, back in 2010 All right, so these are the amounts of resale housing supply available for sale, and we overbuilt homes back in the global financial crisis, everyday people owned multiple homes 15 years ago because virtually anyone could qualify for a loan with those irresponsible lending standards that existed back in that era. I mean, back then, buyers defaulted on payments and walked away from homes and because they had zero down payment in the home. Well, they had zero skin in the game to protect and again, that peaked at 12 months of supply. Now today, Texas and Florida have temporarily overbuilt pockets that are higher than this 4.6 month national number and of course, we have a lot of markets in the Northeast and Midwest that have less than this supply. But note that 4.6 months is still under six months of supply, still favoring sellers just a little, but today's 4.6 months. I mean, that's getting pretty close to historic norms, close to balance. All right, so where is the best buyer opportunity today? Well, understand that. So far, have you picked up on. This we've looked at existing housing supply levels here, also known as resale homes. The opportunity is in new build homes. What's the supply of new construction homes in the US? And understand for perspective that right now, new build homes comprise about 1/3 of the available housing supply. And this might surprise you, we are now up to 9.8 months of new build housing supply, and that's a number that's risen for two years. That's per the Census Bureau and HUD. A lot of builders, therefore, are getting desperate right now, builders have got to sell. The reason that they're willing to cut you a deal is that, see, builders are paying interest costs and maintenance costs every single day on these nice, brand new homes that are just languishing, just sitting there. Understand something builders don't get the benefit of using a home. Unlike the seller family of a resale or existing home, see that family that has a resale home on the market, they get the benefit of living in it while it's on the market. This 9.8 months of new build supply is why buyers are willing to cut you a deal right now, including builders that we work with here at GRE marketplace.    Keith Weinhold  16:30   And we're going to talk to a builder on the show next week and get them to tell us how desperate they are. In fact, it's a Florida builder, and we'll learn about the incentives that they're willing to cut you they're building in one of these oversupplied pockets. So bottom line is that overall, an increasing US housing supply should keep home prices moderating. They're currently up just one to 2% nationally, and more supply means better options for you. Hey, let's talk about this very show that you're listening to, the get rich education podcast. What do you like to do while you're listening to the show? In fact, what are you doing right now while you're listening to the show? Well, in a recent Instagram poll, we asked our audience that very question you told us while listening to the show, 50% of you are commuting, 20% are exercising, 20% are at work, and 10% are doing home chores like cleaning or dishes. Now is this show the number one real estate investing podcast in the United States, we asked chatgpt that very question, and here's how they answered. They said, Excellent question. Real estate investing podcasts have exploded over the past 10 to 12 years, but only a handful have true long term staying power. Here's a list of some of the longest running, consistently active real estate investing podcasts that have built serious legacies. And you know something, we are not number one based on those criteria. This show is ranked number two in the nation. Number one are our friends at the real estate guys radio show hosted by Robert Helms. How many times have I recommended that you go ahead and give them a listen? Of course, I'm just freshly coming off spending nine days with them as one of the faculty members on their summit at sea. Their show started in 1997Yes, on actual radio, before podcasts even existed, and chat GPT goes on to say that they're one of the OGS in the space. It focuses on market cycles, investing strategies and wealth building principles known for its international investor perspective and high profile guests like Robert Kiyosaki. All right, that's what it says about that show. And then rank number two is get rich. Education with me started in 2014 and it goes on to say that this is what the show's about. It says it's real estate centric with a macroeconomic and financial freedom philosophy. It focuses on buy and hold investing, inflation, debt strategy and wealth building. Yeah, that's what it says. And I'd say that's about right? And this next thing is interesting. It describes the host of the show, me as communicating with you in a way that's clear, calm and slightly academic. That's what it says. And yeah, you've got to be clear. Today. There's so much competing for your attention that if I'm not clear with you, then I'm not able to help you calm. Okay? I guess I remain calm. And then finally, slightly academic. I. Hadn't thought about that before. Do you think that I'm slightly academic in my delivery? I guess that's possible. It's appropriate for a show with the word education in our name. I guess it makes sense that I'd be slightly academic. So that fits. I wouldn't want to be heavily academic or just academic, because that could get unrelatable. So there's your answer. The number two show in the nation for real estate investing.    Keith Weinhold  20:29   How are things going with your rental properties? Anyway, I had something interesting happen to me here these past few months. Now I have a property manager in one market that manages quite a few of my properties, all these single family homes and I had five perfect months consecutively as a real estate investor. A perfect month means when you have 100% occupancy, 100% rent collection, and zero maintenance or repair costs. Well, this condition went on for five months with every property that they managed. For me, which is great, profitable news, but that's so unusual to have a streak like that, it kind of makes you wonder if something's going wrong. But the streak just ended. Finally, there was a $400 expense on one of these single family homes. Well, this morning, the manager emailed me about something else. One of my tenants leases expires at the end of next month. I mean, that's typical. This is happening all the time with some property, but they suggested raising the rent from $1,700 up to 1725, and I rarely object to what the property manager suggests. I mean, after all, they are the expert in that local market. That's only about a one and a half percent rent increase, kind of slow there. But again, we're in this era where neither home price growth nor rent growth have been exceptional.    Keith Weinhold  22:02   I am in upstate Pennsylvania today. This is where I'm from. I'm here for my high school class reunion. And, you know, it's funny, the most interesting people to talk to are usually the people that have moved away from this tiny town in Appalachia, counter sport, Pennsylvania, it's not the classmates that stayed and stuck around there in general are less interesting. And yes, this means I am sleeping in my parents home all week. I know I've shared with you before that Curt and Penny Weinhold have lived in the same home and have had the same phone number since 1974 and I sleep in the same bedroom that I've slept in since I was an infant every time that I visit them. Kind of heartwarming. In a few days, I'm going to do a tour of America's first and oldest pretzel bakery in Lititz, Pennsylvania with my aunts and uncles to review what you've learned so far today, put your life first and then build your income producing activity around that. Many college towns are demographically doomed, and even more, have peaked and are on their way down. Overall American residential real estate supply is up. We're now closer to a balanced market than a seller's market. We've discussed the distress in the five plus unit apartment building space owners and syndicators started having their deals blow up, beginning in 2022 when interest rates spiked on those short term and balloon loans that are synonymous with apartment buildings. When we talked to Ken McElroy about it a few weeks ago on the show, he said that the pain still is not over for apartment building owners.   Keith Weinhold  23:51   coming up next, we'll talk about it from a different side, as I'll interview a commercial real estate lender and get her insights. I'll ask her just how bad it will get. And this guest is rather interesting. She's just 29 years old, really bright and articulate, and she founded her own commercial real estate lending firm. She and I recorded this on a cruise ship while we're on the real estate guys Investor Summit at sea a few weeks ago. So you will hear some background noise, you'll get to meet her next I'm Keith Weinhold. There will only ever be one. Get rich education podcast episode 563 and you're listening to it.    Keith Weinhold  24:31   The same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS 42056, they provided our listeners with more loans than anyone because they specialize in income properties, they help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President Caeli Ridge personally, while it's on your mind, start at Ridge lendinggroup.com that. Ridge lendinggroup.com, you know what's crazy?    Keith Weinhold  25:03   Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing, check it out. Text family to 66 866, to learn about freedom family investments, liquidity fund, again, text family to 66866   Caeli Ridge  26:13   this is Ridge lending group's president, Caeli Ridge. Listen to get rich education with key blind holes. And remember, don't quit your Daydream.   Keith Weinhold  26:31   Hey, Governor, education nation, Keith Weinhold, here we're on a summit for real estate on a cruise ship, and I'm with Hannah Hammond. She's the founder of HB capital, a commercial real estate lending firm, and the effervescent host of the Hannah Hammond show. Hey, it's great to chat   Hannah Hammond  26:48   you too. It's been so great to get to know you on this ship, and it's been a lot of fun,    Keith Weinhold  26:51   and we just met at this conference for the first time. Hannah just gave a great, well received presentation on the state of the commercial real estate market. And the most interesting thing, and the thing everyone really wants to know since she lends for five plus unit apartment buildings as well, is about the commercial real estate interest rate resets. Apartment Building values have fallen about 30% nationwide, and that is due to these resetting loans. So tell us about that.   Hannah Hammond  27:19   Yeah, so there is a tidal wave of commercial real estate debt coming due in 2025 some of that has already come due, and we've been seeing a lot of the distressed assets start to hit the market in various asset classes, from multifamily, industrial, retail and beyond. And then, as we continue through 2025 more of that title, weight of debt is going to continue to come due, which is estimated to be around $1 trillion of debt.    Keith Weinhold  27:44   That's huge. I mean, that is a true tidal wave. So just to pull back really simply, we're talking about maybe an apartment building owner that almost five years ago might have gotten an interest rate at, say, 4% and in today's higher interest rate environment that's due to reset to a higher rate and kill their cash flow and take them out of business. Tell us about that.   Hannah Hammond  28:03   Yeah. So a lot of investors got caught up a few years ago when rates were really low, and they bought these assets at very low cap rates, which means very high prices, and they projected, maybe over projected, continuous rent growth, like double digit rent growth, which many markets were seeing a few years back, and that rent growth has actually slowed down tremendously. And so much supply hit the market at the same time, because so much construction was developed a few years back. And so now there's a challenge, because rents have actually dropped. There's an overage of supply. Rates have doubled. You know, people were getting apartment complexes and other assets in the two or 3% interest rate range. Now it's closer to the six to 7% interest rate range, which we all know it just doesn't really make numbers work. Every 1% increase in interest you'd have to have about a 10% drop in value for that monthly payment to be the same. So that's why we're seeing a lot of distress in this market right now, which is bad for the people that are caught up on it, but it's good for those who can have the capital to re enter the market at a lower basis and be able to weather this storm and ride the wave back up   Keith Weinhold  29:08   income down, expenses up. Not a very profitable formula. Let's talk more about from this point. How bad can it get? We talked about 1 trillion in loans coming due this calendar year tell us about how bad it might be.    Hannah Hammond  29:23   So it's estimated that potentially 25% of that $1 trillion could be in potential distress. And of course, if two $50 billion of commercial real estate hit foreclosure all at the same time, that would be pretty catastrophic, and there would be a massive supply hitting the market, and therefore a massive reduction in property values and prices. And so a lot of lenders have been trying to mitigate the risk of this happening, and all of this distress debt hit the market at one time. And so lenders have been doing loan modifications and loan extensions and the extend and pretend, quote. Has been in play since back in 2025 but a lot of those extensions are coming due. That's why we're feeling a little bit more of a slower bleed in the commercial market. But you know, in the residential market, we're not seeing as much distress, because so many people have those fixed 30 year rates. But in commercial real estate, rates are generally not fixed for that long. They're more they could be floating get or they might only be fixed for five years, and then they've reset. And that's what we're seeing now, is a lot of those assets that were bought within the last five years have those rate caps expiring, and then the rates are jacking it up to six to 7% and the numbers just don't make sense anymore.   Keith Weinhold  30:36   That one to four unit space single family homes up fourplexes has stayed relatively stable. We're talking about that distress and the five plus unit multi family apartment space. So Hannah, when we pull back and we look at the lender risk appetite and the propensity to lend and to want to make loans, of course, that environment changes over time. I know that all of us here at the summit, we learn from you in your presentation that that can vary by region in the loan to value ratio and the other terms that they're talking about giving. So tell us about some of the regional variation. Where do people want to lend and where do people want to avoid making loans   Hannah Hammond  31:11   Exactly? And we were talking about this is every single region is so different, and there's even micro markets within certain cities and metropolitan areas, and the growth corridors could have a very different outlook and performance than even in the overexposed metro areas. So lenders really pay attention to where the capital is flowing to. And right now, if you look at u haul reports and cell phone data, capital is flowing mostly to the Sun Belt states, and it's leaving the Rust Belt states. So this is your southeast states, your Texas, Florida, Arizona, and these types of regions where a lot of people are leaving some of the Rust Belt states like San Francisco, Chicago, New York, where those markets are being really dragged down by all this office drag from all the default rates in these office buildings that have continued to accumulate post COVID. So the lender appetite is going to shift Market to Market, and they really pay attention to the asset class and also the region in which that asset class is located. And this can affect the LTV, the amount of money that they're going to lend based on the value of the property, also the interest rate and the DSCR ratios, which is how much above the debt coverage the income has to be for the lender to lend on that asset.    Keith Weinhold  32:26   So we're talking about lenders more willing to make loans in places where the population is moving to Florida, other markets in the Southeast Texas, Arizona. Is that what we're talking about here.   Hannah Hammond  32:37   exactly, and even on the equity side, because we help with equity, like JV equity or CO GP equity, on these development projects or value add projects. And a lot of my equity investors, they're like, Nah, not interested in that state. But if it's in a really good Sunbelt type market, then they have a better appetite to lend in those markets.   Keith Weinhold  32:56   Was there any last thing that we should know about the lending environment? Something that impacts the viewers here, maybe something I didn't think about asking you?   Hannah Hammond  33:04   I mean, credit is tight, but there's tons of opportunity. Deals are still happening. Cre originations are actually up in 2025 and projected to land quite a bit higher in 2025 at about 660, 5 billion in originations, versus 539 billion in 2024 so the good news is, deals are happening, movements are happening, purchases and sales are happening. And we need movement to have this market continue to be strong and take place, even though, unfortunately, some investors are going to be stuck in that default debt and they might lose on these properties, it's going to give an opportunity for a lot of other investors who have been kind of sitting on the sidelines, saving up capital and aligning their capital to be able to take advantage of these great deals. Because honestly, we all know it's been really hard to make deals pencil over the past few years, and now with some of this reset, it's going to be a little bit easier to make them pencil.    Keith Weinhold  33:04   This is great. Loans are leverage, compound leverage, trunks, compound interest, leverage and loans are really key to you making more of yourself. Anna, if someone wants to learn more about following you and what you do, what's the best way for them to do that?    Hannah Hammond  33:42   At Hannah B Hammond on Instagram, my show, the Hannah Hammond show, is also on all platforms, YouTube, Instagram, Spotify, Apple, and if you shoot me a follow and a message on Instagram, I will personally respond to and would love to stay connected and help with any questions you have in the commercial real estate market.    Keith Weinhold  34:27   Hannah's got a great presence, and she's great in person too. Go ahead and be sure to give her a follow. We'll see you next time. Thank you.   Keith Weinhold  34:40   Yeah. Sharp insight from Hannah Hammond, there $1 trillion in commercial real estate debt comes due this year. A quarter of that amount, $250 billion is estimated to be in distress or default. This could keep the values of larger apartment buildings suppressed. Even longer, as far as where today's opportunity is, next week on the show, we'll talk to a home builder in Florida, ground zero for an overbuilt market, and we'll see if we can sense the palpable desperation that they have to move their properties and what kind of deals they're giving buyers. Now until next week, I'm your host, Keith Weinhold, do the right thing before you do things right out there, and don't quit your Daydream.   Speaker 3  35:33   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC exclusively.   Keith Weinhold  35:56   You know, whenever you want the best written real estate and finance info. Oh, geez, today's experience limits your free articles access and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you'll also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre 266, 866, while it's on your mind, take a moment to do it right now. Text, gre 266, 866,   Keith Weinhold  37:12   The preceding program was brought to you by your home for wealth, building, getricheducation.com.  

Join Tony Michas and John Mathews along with very special guest, Co-Host of the Podcasts CineJourneys and Criterion Now and the author of the upcoming book A24: The New Wave, Aaron West discuss the July 2025 Film BundlesThe July film bundles includes Dune: Limited Edition Sandbox Edition, Malcolm X, In the Heat of the Night, Midnight Cowboy, Blue, Fade In, Hud, This Property is Condemned, Track of the Cat, You Only Live Once, The Juggler and Jet Storm.

Advocates worry cuts to some federal benefits could impact how many people receive WIC benefits. Congresswoman Ashley Hinson says she trusts the Trump administration to handle the Jeffrey Epstein controversy. And a new regional administrator for HUD went to Cedar Rapids.

After Andrew Cuomo announced he's running for mayor as an independent candidate, the former governor spoke with NY1's Errol Louis about what went wrong with his Democratic primary campaign while also heavily criticizing the man who beat him, Zohran Mamdani. Cuomo also reflected on past initiatives during his tenure as HUD secretary under Bill Clinton, emphasizing the cultural impact of home ownership and the challenges of affordable housing in New York City. He advocated for massive construction efforts, city control of the subways and ways to tackle homelessness.

What happens when a well-known multifamily operator shifts focus to a completely different asset class? In this episode, Jim Pfeifer and Paul Shannon are joined by real estate investor and Praxis Capital founder Brian Burke to explore his pivot into assisted living, memory care, and skilled nursing facilities. Brian shares why he's stepped away from multifamily, for now, and what signals led him to target the senior housing sector. He explains why this niche is coming out of a bottom, how it differs from traditional real estate, and what makes triple-net lease investments in this space both stable and lucrative. The discussion covers risk, underwriting operators, HUD financing, and exit strategies, offering passive investors a crash course in how to assess and potentially capitalize on a misunderstood asset class. Key Takeaways: Why Brian Burke is “done with multifamily for now” What made assisted living a timely pivot How triple-net lease structures reduce landlord risk The importance of operator selection and lease coverage How HUD financing boosts returns and mitigates risk Exit strategies ranging from lease buybacks to portfolio sales Where this strategy fits on the broader risk spectrum What passive investors should ask before investing in senior housing Disclaimer The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Remember that past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any of the advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

Our host, LUL President & CEO Lyndon Pryor, is joined by Bridgette Johnson, President & CEO of New Directions Housing Corporation. Johnson was recently appointed to the role, having 20+ years of experience with the agency. She has a depth of knowledge in the affordable housing sector, including real estate and market assessments, marketing and leasing, construction management, project accounting, and project redevelopment. We also introduce our new co-host, Ramona Dallum, an inclusive leader in the field of philanthropy and the arts, committed to equity-centered design and innovation for healthy communities.The trio discusses what affordable housing really means, who affordable housing is for, potential Section 8 and HUD budget cuts, and what the community can do to make a difference. Johnson graduated from Indiana Wesleyan University with a BS in Business Management and from the University of Louisville with an MBA. She was selected for the Neighbor Works Achieving Excellence Program at Harvard Kennedy School in 2022.

Send us a textSummary: Emila and I discuss housing and homelessness at the City level.________________________________________________________Sponsor: This show is supported by the Top Five Newsletter. If you want a simple and to-the-point update on Raleigh commercial development, you can subscribe to the Top Five. It's free if you want it to be!________________________________________________________Big Takeaways:- When it comes to homelessness, it costs more to do nothing than it costs to do something.- The definition of functional zero homelessness.- As housing affordability decreases, homelessness tends to increase.________________________________________________________About Emila: Sutton currently serves as the Housing & Neighborhoods Director for the City of Raleigh, overseeing initiatives in affordable housing, homelessness, small business development, and code enforcement programs. The department's goal is to increase the supply of safe, decent, and affordable housing, and overall enhance the lives of Raleigh residents. Key programs include affordable housing rental development, homeownership assistance, small business development, home rehabilitation, and several homelessness-related initiatives.Sutton holds a Bachelor's degree in Political Science, a Master's degree in History, and a Juris Doctor (JD).Connect with Emila: Website | LinkedInMentioned in the show:- The cost of homelessness in Dallas & Collin Counties- Ending Chronic Homelessness Saves Taxpayers Money- Raleigh Resources for Housing Crises and Homelessness- [Book] Homelessness is a Housing Problem- 2017 HUD and National Alliance to End Homelessness - cost of homelessnessAdditional Resources:- [Video] Can luxury housing do anything for homelessness?- [Podcast] Episode 66: Chronic Homelessness and Housing First with Tim Aubry (Pathways Home pt. 6)________________________________________________________Sponsor: This show is supported by the Top Five Newsletter. If you want a simple and to-the-point update on Raleigh commercial development, you can subscribe to the Top Five. It's free if you want it to be!Show Notes: Welcome to Dirt NC, where we talk all about the places and spaces of North Carolina and the people who make them awesome. I am your host, Jed Byrne.Throughout my career in engineering, construction, finance, and development, I have worked on nearly every aspect of the land use ecosystem. This show provides an opportunity for me to share what I've learned with you, as well as introduce you to some of my friends, both ne

On this episode of the Ruff Talk VR podcast we have a packed agenda to discuss including our early impressions of both Prison Boss Prohibition and Requisition VR. We also talk some graphical updates to Green Hell VR as well as some updates to Dorp Dead The Cabin (Including a flat screen version!), The Phoenix Gene, and Bootstrap Island. We also talk some upcoming games such as DrakkenRidge, Laser Matrix, Fruit Golf, and Piano Cafe. As well we also discuss some rumors regarding Meta's upcoming HUD glasses rumored to be named "Celeste", and more! Big thank you to all of our Patreon supporters! Become a supporter of the show today at  https://www.patreon.com/rufftalkvrDiscord: https://discord.gg/9JTdCccucSPatreon: https://www.patreon.com/rufftalkvrIf you enjoy the podcast be sure to rate us 5 stars and subscribe! Join our official subreddit at https://www.reddit.com/r/RuffTalkVR/0:00 - Episode start2:00 - Prison Boss Prohibition early impressions21:25 - Requisition VR early impressions45:00 - Green Hell VR Quest 3 Upgrade54:45 - Drop Dead: The Cabin update, flatscreen, and PCVR58:00 - DrakkenRidge1:03:15 - Laser Matrix1:09:00 - Fruit Golf1:11:00 - Piano Cafe1:16:00 - Waltz of the Wizard iOS and Vision Pro1:18:00 - Meta HUD glasses leak1:24:00 - Bootstrap island update1:25:30 - The Phoenix Gene updateSend us a text to the Ruff Talk VR fan mail line!Support the show

On this episode Matt & Geoff are joined by Brian Riggsbee of Retro Game Books to discuss video game maps. Physical pack-in maps, HUD mini maps, and all the little points of interest. A map can help you know where to go next in your quest, what you could find along the way, or dream about where your journey may take you. Maps in video games have been doing this since games were more than one screen. You can check out the Video Game Maps series and other great game books on Retro Game Books. You can also find Retro Game Books on Bluesky We have a Patreon! Gain access to episode shout outs, bonus content, early downloads of regular episodes, an exclusive rss feed and more! Click here! You can find the show on Bluesky, Instagram and YouTube! Please rate and review us on Apple Podcasts! Rate us on Spotify! Wanna join the Certain POV Discord? Click here!  

Lesley and Brad recap Lesley's informative conversation with Matthew Lesko, the iconic question-mark-suit-wearing advocate for free government resources. Learn how to get support for your business or personal goals, shift your mindset around asking for help, and tap into programs that already exist to empower you. This episode breaks down key takeaways, including how Lesko's mission began and the tools you can use to take action today. If you have any questions about this episode or want to get some of the resources we mentioned, head over to LesleyLogan.co/podcast https://lesleylogan.co/podcast/. If you have any comments or questions about the Be It pod shoot us a message at beit@lesleylogan.co mailto:beit@lesleylogan.co. And as always, if you're enjoying the show please share it with someone who you think would enjoy it as well. It is your continued support that will help us continue to help others. Thank you so much! Never miss another show by subscribing at LesleyLogan.co/subscribe https://lesleylogan.co/podcast/#follow-subscribe-free.In this episode you will learn about:How to modify a Reformer with a stationary headrest for safer workouts.How Matthew Lesko redefines success by staying true to his heart.Why injecting fun into your work creates motivation and momentum.The types of government resources most people overlook—and how to find them.Why booking a real appointment beats filling out forms online.Episode References/Links:eLevate Workout and Q&A - https://lesleylogan.co/elevatewaitlistAgency Mini - https://prfit.biz/miniOPC Summer Tour - https://opc.me/tourUK Mullet Tour - https://opc.me/ukCambodia October 2025 Waitlist - https://crowsnestretreats.comSubmit your questions - https://beitpod.com/questionsYouTube: How to Choose a Reformer - https://beitpod.com/choosingareformerBook: Big Magic by Elizabeth Gilbert - https://a.co/d/9qFidcWMatthew Lesko's - https://beitpod.com/leskohelpEp. 400: Gay Hendricks - https://beitpod.com/gayhendricksEp. 196: Beate Chelette - https://beitpod.com/beatecheletteFind Local Help for Basic Needs – https://www.findhelp.orgGovernment Contracting Support (Apex Accelerators) – www.apexaccelerators.usSmall Business Support (SBA Local Assistance) – www.sba.gov/local-assistance If you enjoyed this episode, make sure and give us a five star rating and leave us a review on iTunes, Podcast Addict, Podchaser or Castbox. https://lovethepodcast.com/BITYSIDEALS! DEALS! DEALS! DEALS! https://onlinepilatesclasses.com/memberships/perks/#equipmentCheck out all our Preferred Vendors & Special Deals from Clair Sparrow, Sensate, Lyfefuel BeeKeeper's Naturals, Sauna Space, HigherDose, AG1 and ToeSox https://onlinepilatesclasses.com/memberships/perks/#equipmentBe in the know with all the workshops at OPC https://workshops.onlinepilatesclasses.com/lp-workshop-waitlistBe It Till You See It Podcast Survey https://pod.lesleylogan.co/be-it-podcasts-surveyBe a part of Lesley's Pilates Mentorship https://lesleylogan.co/elevate/FREE Ditching Busy Webinar https://ditchingbusy.com/ Resources:Watch the Be It Till You See It podcast on YouTube! https://www.youtube.com/channel/UCq08HES7xLMvVa3Fy5DR8-gLesley Logan website https://lesleylogan.co/Be It Till You See It Podcast https://lesleylogan.co/podcast/Online Pilates Classes by Lesley Logan https://onlinepilatesclasses.com/Online Pilates Classes by Lesley Logan on YouTube https://www.youtube.com/channel/UCjogqXLnfyhS5VlU4rdzlnQProfitable Pilates https://profitablepilates.com/about/Follow Us on Social Media:Instagram https://www.instagram.com/lesley.logan/The Be It Till You See It Podcast YouTube channel https://www.youtube.com/channel/UCq08HES7xLMvVa3Fy5DR8-gFacebook https://www.facebook.com/llogan.pilatesLinkedIn https://www.linkedin.com/in/lesley-logan/The OPC YouTube Channel https://www.youtube.com/@OnlinePilatesClasses Episode Transcript:Lesley Logan 0:00  Whatever you are setting yourself up to do, to go through the struggles, to go through the obstacles, to go through the failures, you have to actually want to do it. You're gonna have to care about the problem that you're solving. Lesley Logan 0:12  Welcome to the Be It Till You See It podcast where we talk about taking messy action, knowing that perfect is boring. I'm Lesley Logan, Pilates instructor and fitness business coach. I've trained thousands of people around the world and the number one thing I see stopping people from achieving anything is self-doubt. My friends, action brings clarity and it's the antidote to fear. Each week, my guest will bring bold, executable, intrinsic and targeted steps that you can use to put yourself first and Be It Till You See It. It's a practice, not a perfect. Let's get started. Lesley Logan 0:51  Welcome back to the Be It Till You See It interview recap where my co-host in life, Brad, and I are going to dig into the endearingly fun convo I had with Matthew Lesko in our last episode. If you haven't yet listened to that interview, feel free to pause us now, go back and listen to that one, because you've missed out. Brad Crowell 1:09  So you could also have said the wise, happy old man convo I had, who drops a lot of F bombs. Lesley Logan 1:14  And also, when we say old, I just want to say, like, there's nothing. He is not like slow.Brad Crowell 1:20  No, he does not come across that old. And he said PSM 81. I was like, what? Really?Lesley Logan 1:26  Yeah, yeah, he's feisty and fun, and. Brad Crowell 1:29  Heck yeah. Lesley Logan 1:29  And like, working so hard for everyone. And I was just so excited. And then when we I was like, I had just interviewed him that day, and our friend Michael and Brogan was here at the house, and I was like, oh my God, I just interviewed someone. You should have him on your show. And I just started describing him and our friend Michael was like, Matthew Lesko? And he was like, he's like, the guy with a question mark suit. And I'm like, yeah, that's him. And he's like, stop right now. I want him on my show. So anyways, super, super fun. We'll get into that episode in just a second. But today is July 3rd 2025 and it's National Compliment Your Mirror Day. National Compliment Your Mirror Day is on July 3rd. We live in an image-driven world. Sometimes this can cause us to not notice and compliment a very important person in our lives, ourselves. This day motivates us to look in the mirror and recognize all those things that make us exceptional, inside and out. So go look yourself in the mirror and give yourself a compliment. Brad Crowell 2:25  Go do it. Lesley Logan 2:25  Do it now. You can use your phone as a camera if , as a mirror, if you want. But sometimes I do that. Okay, literally, next week. Is it next week? I guess it's July 3rd, so maybe a little after a week. Brad Crowell 2:38  Well, Happy July 4th for those in the United States. Lesley Logan 2:41  Those who celebrate. Brad Crowell 2:42  The independence that we are on the brink of not having. Lesley Logan 2:47  You guys, I'm just going to be really honest, we're recording this while L.A. is being taken over by people. A lot of misleading information, a lot of bad stuff. Make sure always, always, always, always get news from the people who are on the ground, because people like to spend things. And so anyways, if you're celebrating the Fourth of July, Happy Fourth of July. But, in exciting news, on July 9th, I'm hosting a free workout for those people who are interested in eLevate, my mentorship program. And we'll have a Q&A, we'll have eLevate grads on there who will tell you why they love it so much. And you just want to go to lesleylogan.co/elevatewaitlist to get on, get the invitation, and come to that. We have, like, I don't know, at the time we're recording this, like, eight spots left, I think, which is not a lot of spots at all. Brad Crowell 2:47  It's not a lot of spots, y'all. Lesley Logan 3:27  No, and we're actually, like, gonna be, you know, pretty soon, starting to work out who has what time slot. Brad Crowell 3:40  I mean, there are hundreds of people on the waitlist. Lesley Logan 3:43  Yeah, like, like, several hundreds. Like, for eight people. Brad Crowell 3:47  Eight spots, right? Because we started.Lesley Logan 3:49  But don't let that deter you. That means you should go be one of those eight people. Brad Crowell 3:53  100%Lesley Logan 3:54  Yeah. Brad Crowell 3:54  Yeah. And you're welcome to reach out, you know now, so, but yeah, July 9th, it's gonna be a super good time. We're going to have a free class, answer questions, have some alumni on there, but guess what I'm really excited about, too.Lesley Logan 4:07  Yeah, we're doing Agency Mini, our coaching program that we do, where we. Brad Crowell 4:12  Bringing it back. Lesley Logan 4:12  We help as many people as possible. Brad Crowell 4:12  Bring it back to me. Lesley Logan 4:13  Yeah, and we're doing it in three days, so you don't have to be overwhelmed by a week-long situation with like, the Facebook, none of that stuff. So if you've heard of Mini before, this is a new Mini. Brad Crowell 4:28  If you've done Mini before, you should come back and do that. Lesley Logan 4:31  Yeah, we used to have a rule that you couldn't and now you can. Brad Crowell 4:34  Yeah, we're, this is a special invite. Special invite because it's different. You know. We're, we're taking the concept and we made it better, we made it shorter, we made it easier, we made it faster, all the things. And so, you know, you really can learn a lot in just three days with us. And then, you know, there's also opportunities for coaching calls, which we never offer outside of our coaching group. Or you can book a coaching call with either Lesley or with me. It's a Round Robin. So you'll be surprised at who you get, because it's just based on our availability. But basically.Lesley Logan 4:58  Oh, that's cool. So they're just booking it and, like. Brad Crowell 5:07  They're just booking a call and getting aside. Lesley Logan 5:08  Cool. It's like speed dating.Brad Crowell 5:10  Kind of, but it's gonna be great because, you know, we, we don't have, we don't set aside the time to coach people who are not in our coaching group, because it's already a lot, right? And so what we've done differently this time is we're creating that space that time we actually are leaving, you know, time during six days where you can book a call with us. And you do that when you register for Agency Mini, so when you're going through and it says, like, oh, do you want to join Agency? Say yes. And then during the checkout, you'll say, oh yeah, and yes, I would like to add a coaching call and so, you know, we'll, we'll be able to chat. It's gonna be awesome. I'm looking forward to it. I'm looking forward to meeting everybody. I love hearing all the different things that are going on. I just had a coaching call with a new Agency member, and she's opening up a bigger space, like a much bigger space than her current space. Lesley Logan 5:56  Oh, is it, who I think it is? Brad Crowell 6:03  No, not at all. So, you know, and they, they were, they're trying to figure out, like, you know, all the mechanics behind that. And what's so fun is that Lesley and I've been able to be there for this conversation many, many, many, many times over the years, plus we've done it ourselves, right? So anyway, come join us. Go to Agency Mini, prfit.biz/mini P-R-F-I-T dot biz, that's profit without the O dot biz slash mini. Then, we're hitting the road.Lesley Logan 6:33  Yeah, after Mini, we literally pack up the van and we're gonna go on tour, you guys, 15 cities and like, 20-something days. Our tour is powered by Balanced Body, and many of the events are sold out, like a lot of them are sold out and so but also on this one, there is an opportunity to join a virtual so if I've never come to a city near you, you've never had the time to drive a half hour across town, all that stuff, you can actually get tickets to the virtual events we're doing in Calgary. So go to opc.me/tour to see the lineup, the cities. I can name them for you. We're doing Phoenix, San Diego, Los Angeles, Santa Barbara, San Francisco, Sacramento, Eureka, Portland, Seattle, Vancouver, Kamloops, Calgary, McCall, Idaho, Salt Lake in Las Vegas.Brad Crowell 7:18  That's right, I'm impressed you just rattled that off I think that's 16, right? Something like that. 15?Lesley Logan 7:22  Some people keep saying 15, whenever I counted. It feels like 16, so I don't know. Brad Crowell 7:28  Yeah. Well, anyway, it's a bunch. It's exciting. We've got a lot going on, and we can't wait to meet you in person. So come join us. Go to opc dot me slash T-O-U-R that's opc.me/tour. And then.Lesley Logan 7:41  We had a lot of people in the U.K. jealous of this tour. And I'm like, hold on, we're coming your way in September. So we come home, we acclimate, then we go into the U.K. We have two city locations in the U.K. for our Mullet Tour, which means business in the front Pilates in the back. Don't worry, the business is also like life skills. So.Brad Crowell 7:59  It's not like super deep business in a studio. So you can.Lesley Logan 8:02  No, you can be a non-teacher. Brad Crowell 8:04  One of them is about scheduling, and you can apply that to any element of life, like. Lesley Logan 8:14  One of them is about habits. Brad Crowell 8:14  And the other's about habits. That's right. So. So anyway, it's gonna be awesome. Go to opc.me/uk.Lesley Logan 8:15  We'll do Leeds and we'll do Essex. And right now we have three spots left in Leeds. No, they're not days passes yet available for Leeds. There's only three weekend passes left, so we're not breaking those up. In Essex, we have day passes because it's during the week. Or you can save money by getting two day pass. So go to opc.me/uk you can come to both. There's only, like, two workshops that cross over. So.Brad Crowell 8:37  You could come to Leeds and then to Essex, yeah, you totally could do that, and then you can continue the conversation. Because often, when you do a workshop and you leave, how often do you immediately revisit that content? Imagine being able to revisit it right away and just take it even deeper, hear it again and, like, really dial it in. So that's also an option. Then, in October, guess where we're going? Lesley Logan 9:01  Back to Cambodia. Brad Crowell 9:02  That's what we're doing. We can't wait. Obviously, we love Cambodia. We love going there. We love helping people experience another world altogether. It is just the coolest place.Lesley Logan 9:13  I love just like getting some time away from the life and chaos that's going on that you like, absorb all the time, and you're dealing with all the time to just like, to just fill your cup up and be amazed about what community can look like in a village, and what it can look like to see temples that took hundreds, if not thousands of people over, you know, several years working together. And sometimes when I just feel like there's just no way we're going to solve this problem, that I go there and I'm like, well, they did this, and if they did this, I can solve a problem. So, like, I just it's always very, It's humbling, but also grounding, and then it really allows you to step away from what's going on and get a bigger, get a better understanding and come back into it.Brad Crowell 9:57  I love it. Well, you're not wrong. It is mind-blowing it is one of those trips that will change your perspective of life in general. It's amazing. So you should join us. Go to crowsnestretreats.com crowsnestretreats.com. Come join us. There are still spots for this October, and it's not too late to get the plane tickets. I think Lesley and I just basically bought ours recently. Lesley Logan 10:18  We have haven't bought them yet. No. Brad Crowell 10:19  We've been looking at them. Lesley Logan 10:19  We're looking at them. Brad Crowell 10:19  So we haven't bought them yet, right? So don't worry, there's room, okay, there's time. So come join us. But, before we get into the Matthew Lesko question mark jacket, he didn't wear it in the interview. But he. Lesley Logan 10:33  Yes, he did. Brad Crowell 10:34  He wore his question mark jacket? Lesley Logan 10:36  Oh, yeah, you didn't watch? Brad Crowell 10:37  No, I did watch, but I kept looking at his epic blue glasses.Lesley Logan 10:41  No, there was question marks on that suit that clearly-fitted-to-him suit. Brad Crowell 10:46  He's a badass. Lesley Logan 10:47  Wonderfully fitted to him. Brad Crowell 10:48  Well. Anyway, before we get into that, we have an audience question @MarleneBroek on YouTube says, I wish I could do a Scottish accent, because I think her last name is Scottish, but I'm not going to try. She said hello, I already have a Reformer, but my head rest is stationary. Any recommendation for a separate headrest, such as the kind that forms to one's neck, interesting, or one that is flat to go on top of it. Thank you so much for your time. All right, Marlene, get ready, because I already know what's coming.Lesley Logan 11:22  So unfortunately, you all, many, many people are now making Reformers who've never done Pilates before, and they don't know that these things make a difference. So I'm super, super glad you're curious, because your headrest is not supposed to be stationary. So what I don't know from this is, if your headrest is stationary up or stationary down. My hope is that it's stationary down, because then we can get like a wedge pillow of some kind that will mimic a head rest being up. But then you could take that, that insert away, and then you could actually still do overhead exercises. If it is stationary up, you cannot do any overhead exercises. No, there's nothing we can do. I don't even know that what you can do, because I don't have a picture of your Reformer, don't know if it has hinges, if you could add anything. Unclear. So what I will say is, I'm just going to assume your headrest is stationary down for the rest of this conversation. You don't want a pillow or headrest that forms to your neck, because we're not actually trying to support the neck in that way we're, actually, when we have the headrest up, it's meant to tilt your head in just a way, so your neck can relax, but your upper abs can engage without us even telling you. That's why the headrest is up for footwork, for frogs and circles, for running, for pelvic lift, that your headrest is up so that your you just have this nice little support to help you engage your upper abs without you using your neck. It's really quite cool. He's very fast. So anyways, and it's down when you're not using that. So you can do overhead exercises. You get your box on top, things like that. So I would look into, Marlene, some sort of like foam wedge that you can cut to the size of your headrest. Brad Crowell 13:00  And firm foam. Lesley Logan 13:01  I would definitely say something firm. You don't want to be like a pillow.Brad Crowell 13:05  Right. So, so, like, I'm thinking about your baby chair and that little funny wedge that you have for the baby chair. Kind of would be like that. So, like, and that wedge, you're sitting on it, and it doesn't move, like, it doesn't give, it, literally, is intended to level out the baby chair. So in this case, you would want something that's firm like that as well. Lesley Logan 13:23  Yeah, very firm, like, you can even.Brad Crowell 13:26  Like, you basically just taking it on and off.Lesley Logan 13:27  I mean, I would imagine, like, if you have someone handy in your life with, like, a really cool saw that could, like, take a yoga block and, like, slice it from. Brad Crowell 13:37  That's a good texture, yoga block. I bet you could modify a yoga block to make your own wedge. Lesley Logan 13:42  Yeah. And I think that some yoga blocks even come like that. So, like you, I mean, like, there's a lot of things out there, but that's what I would do. Brad Crowell 13:50  What kind of angle are we talking about here?Lesley Logan 13:52  Let me just get my protractor out. It's, it's not as.Brad Crowell 13:59  If there's a right angle, is it halfway? Lesley Logan 14:01  No. Brad Crowell 14:02  No. It's 1/3 of the way? Lesley Logan 14:03  One-third, maybe. Your eyes are still able to look at the ceiling. You're not looking at your toes. Brad Crowell 14:09  Got it. Lesley Logan 14:10  Yeah. Brad Crowell 14:10  Cool. Lesley Logan 14:11  Yeah. So Marlene, I hope this helps you. This is why I did the Reformer, you know, how to choose a reformer video. And this is why these are things we have to think about when it comes to what, what changes did an engineer make when making your rReformer, you know, like, did they change the springs for bungee cords? Did they change the foot bar that moves to a fixed vertical foot bar? Did they change that there's no head the headrest doesn't go down or doesn't go up? Did they change the shoulder rest so that they're round and not actually something that like allows your shoulders to be wide, or your foot to be against something that like fills their foot out like the Contrology shoulder blocks actually fit the shape of your foot. That's why they're (inaudible). That's why they're made the way they're made. So.Brad Crowell 14:53  I was like, what?Lesley Logan 14:55  So anyways, I don't think you have to go buy a whole other Reformer, Marlene, but I would do this, and then I would have a little savings account for the another, the next Reformer. And trust me, someone will buy this off you for the same thing you paid for it, because everything goes up in price and they're not paying tax on shipping.Brad Crowell 15:10  No doubt. Well, and then when you're ready to go shopping, reach back out to us and we'll connect you with Balanced Body, where we've got a discount code for you there. So yeah, all right. If you have a question.Lesley Logan 15:21  Send it to the beitpod.com/questions. Brad Crowell 15:24  That's right. Send it to beitpod.com/questions beitpod.com/questions. If you have a win, and you want us to cover that win on the FYFs on Friday, you can also submit it right there as well. So thanks for asking that. Stick around. We'll be right back. We're going to dig into the question mark-filled convo with Matthew Lesko. Actually, it's more like mind-blowing convo. He has said wealth of information and exuberance for life. I really enjoyed it. So we'll be right back. Brad Crowell 15:50  Okay, welcome back. Let's talk about Mr. Matthew Lesko. At the age of 81, Matthew is still rocking those question mark suits and has spent four decades helping people find free resources that they did not know existed, which I kind of think is amazing. He has written over 100 books, y'all, he's written 100 books. He has appeared on shows like Oprah, Larry King, The Good Morning America, and built a thriving online community that connects people to grants, businesses and funding and overlooked financial support. PS, I did math while I was listening, his, his community is like 5000 plus people. Yeah, that's crazy. From a string of failed businesses to becoming a recognizable voice for everyday people, Matthew has made it his mission to make support accessible. And it proves it's not about luck. It's about knowing where to look. So we're fired up about that. That was amazing. Tell me one of your favorite things about this convo. Lesley Logan 16:47  Okay. How many things can I talk about? But first I want to just like he emphasized, there's no single formula for success. He talks about how life and starting anything new, this is important, means dealing with failure, struggle and a lot of guesswork. My perfectionist, here it is from someone who's written 100 books and is 81 years old and seen it all. You know, it come like success actually comes from dealing with failure, struggling, a lot of guesswork. And he believes success doesn't come from knowing everything, but from possessing the energy and willingness to keep trying and learn from failures. Hold on. I have to, I have to say this. He strongly advocates that you follow your heart. Stated, he says the way to get anything done is your heart has to be in it. He also said your heart is smarter than your brain, and to trust that more than anything. And I love this, because I think, like a lot of people, like, well, what's specifically when we coach people on their Pilates business, I'm like, oh, you know, who do you want to help? Well, that's, I want to help everyone. Brad Crowell 17:45  Me, too. Lesley Logan 17:45  Right. But like, who do you want to help? Because if your heart's not in it, you're gonna really be annoyed helping the person that you don't want to help. And then you're if your heart's not in it, you're gonna start resenting them and, like, start going, oh, this becomes another job, right? Like, your heart has to be in what you're doing.Brad Crowell 18:01  Yeah, definitely. You know, it's so funny. We were just talking about this recently, where I feel like there's the two extremes, like I'll do anything for money. I'll only do it if I love it. And, you know, I know I kind of flip flopped over this, you know, during my life. And he has a very compelling argument to follow your heart, and I think also too, you know, he's very savvy. He's very business savvy. So he's been able to figure out how, by following his heart, can he also make money. And he's turned it into like a mission, and that mission has attracted other people who are like-minded. And, I mean, that is like the ideal scenario. Lesley Logan 18:45  Well, and also, if you realize, like, you know, first of all, you know, Big Magic is a great book for everyone to read. And some of your things that you love to do, that you're like, are creative, aren't meant for making money on. So that's, we're not. I don't think that Matthew or us are advocating that you like if you love pottery, that you go or you only make pots, and that's how you make money. That whatever you are setting yourself up to do, to go through the struggles, to go through the obstacles, to go through the failures, you'll, you have to actually want to do it. You can have to care about the problem that you're solving. If you don't care, you're not gonna be able to handle those obstacles. You're not gonna be able to go through it. You're gonna, you'll get, you'll get a door slam on your face and just go, okay, well, I'm not into it, right? So I think that's what he means, that your heart has to be in it. Like not everything you love doing will be a thing you make money on, but you gotta care about what you're doing. Gotta have care for it to be successful.Brad Crowell 19:40  Yeah, and I think there was something he said that just went right out of my mind. But he, he, he was talking about the when his, when he first, he actually, first off, I had no idea, he was in the military, but apparently he was in the military after he got out, he started.Lesley Logan 20:02  81 (inaudible). I don't think you get to be 81 and you weren't, unless you're an asshole, draft dodger dickhead. Anyway.Brad Crowell 20:02  That's fair. So he, he said he started a bunch of businesses and they failed. He started another business and they failed, and then he became a consultant, and that somehow, you know, was working, but then he was making millionaires billionaires. And he was like, that sucks. You know, he's like, these people don't care about anybody except for themselves. And he was not and he was not really enjoying it. And you know, he said he had this moment though, where he's showing up for the job, and he's like, uh, someday it's gonna be better and more fun, and then hopefully when I'm retired, I'll be able to go enjoy life. And he said, wait a minute. Why? Why should I keep doing something that I hate just hoping that someday it'll make it'll be better, it'll I will enjoy it more, or it's gonna pay me what I want to pay. He's like, I only have one life to live, and I'm better. I should start enjoying what I'm doing now. How do I do that? How do I do that? You know? So he said he flipped the script and decided to prioritize having fun. And he said having fun is contagious. He said it's a little contagious. In fact, you know, just his approach to the podcast was contagious and fun and joyful, you know. And he said it's also when you're doing something that feels fun, you are naturally motivated to work harder, right? So, you know, instead of like, kicking yourself to go get the thing done, that you have to do, what if you could do something that is fun, you know, you're gonna do it well, because you love doing it?Lesley Logan 21:37  Yeah. Yeah. It made me think a little bit about Gay Hendricks is, like, zone of genius kind of a thing. Like, I feel like. Brad Crowell 21:44  Sure.Lesley Logan 21:44  I feel like they're very similar, except for this one is, like, except for Matthew is teaching us how to get the money we need to go do the thing we love.Brad Crowell 21:54  Yeah, it's, it's very true, and he's encyclopedic with that, as well. He was very impressive. Lesley Logan 21:58  I will say. Like, if you listen to episode 400, Gay Hendricks will help you figure out what your zone of genius is. And then Matthew Lesko will give you all the websites for where you can get paid to do your zone of genius. I think that these are two must listen tos.Brad Crowell 22:12  Who knew that kind of a thing, just, mind-blowing. Lesley Logan 22:12  And I think that each state has that. You have to figure out, like, how does your state, how does your state make money? Right? Because every state's a little different. How they tax, what they tax. So like, obviously Nevada is not excited to help us unless we are a casino. So since we are not one of those things, we're not getting that. But at the same time, there's still going to be things we can reach out to figure like, find ways, because this, they do have local people who need.Brad Crowell 22:40  Yeah, gambling and tourism, that's how Nevada makes money.Lesley Logan 22:43  Yeah. So that's how that makes money. So, like, but we can figure out, like, okay, well, how, what does the city need, right? Because we actually don't live for, the strip is not part of Las Vegas, surprising. It's technically paradise, but, but, but you can figure out what your city needs to get, what your county needs to get, what state needs, and then go, oh, well, what are they? They're paying for that, they're giving out grants for that. Like, yeah, you do the paperwork. But like, not many people are. Brad Crowell 23:06  Not many people are. Lesley Logan 23:07  Remember, I forget her name, B-D B-D. Brad Crowell 23:12  B-E-A-T-Y? Lesley Logan 23:14  Yeah. No, no, B-E-A-T-T-E. She was on our on an episode of The Be It Pod, and she got a, she got an SBA grant because she filled out the fucking paperwork.Brad Crowell 23:26  Yeah, I. Lesley Logan 23:27  B-D Brad Crowell 23:28  Don't have her name there.Lesley Logan 23:30  Well, she's in the two hundreds. Let's see how.Brad Crowell 23:35  Oh, B-E-A-T-E Chalet, Chalet. She was, she,her interview was 196. I'm very proud.Lesley Logan 23:43  Ah, I was so close. And I was thinking, Beate Chelette, but I was like, no, I was confusing her with Aletta Rochat. And I was like, no, but actually, I should have said it out loud, because I was right. Anyway, so close, so close. Yeah, but she, if you guys listen to her episode 196 she actually got an SBA grant for her business idea. You know? Brad Crowell 24:05  I love that. Lesley Logan 24:05  Because she did the thing that Matthew said to do, make the appointment, sit down with the people like, fill out the thing. Anyways.Brad Crowell 24:13  Impressive. All right. Well, anyway, stick around. We'll be right back. We're going to dig into that amazing convo you had with him about the Be It Action Items, which y'all literally, you have to take notes like, it is, it's 100% you have to go back. You slow it down, listen to it twice, write down all the things he said. But we're gonna talk about it so. Lesley Logan 24:31  And it's also in the transcripts. Brad Crowell 24:33  Oh yeah, we'll put the links in the transcripts, but stick around. We'll be right back. Brad Crowell 24:37  Okay. Finally, let's talk about those Be It Action Items. Say it with me Mindi. What bold, executable, intrinsic or targeted action items can we take away from your convo with Matthew Lesko. He shared an abundance of untapped government resources, both state and federal. By the way, it's not just the federal.Lesley Logan 25:00  And I guess for the people who live internationally, I imagine these things probably exist in a lot of places you live. Brad Crowell 25:05  I'm 100% sure about Canada. In fact, I have a lot of musician friends who would get grants in Canada where the Canadian government was willing to sponsor. Lesley Logan 25:14  Yes. We have had guests who do that. That is amazing. Brad Crowell 25:16  Yeah. And that that like, I don't even maybe that's available here too. I have no idea, but I'll tell you. You know, that was seemed to me like, like my college friends were like, I want to make an album. And they literally applied to the Canadian federal government, and they got like, 10 grand to make an album. And I was in college going, how the hell, why can't I get 10 grand? Lesley Logan 25:36  I mean, they were Canadian, obviously. Brad Crowell 25:38  Yeah, they were, they were obviously Canadian. So anyway, he shared a bunch of untapped resources. He said that 40% of everything in our economy are organizations that give you free money to solve a problem. I don't really understand that statistic, and I can't actually validate that, but he's been doing this for four decades, y'all, so he knows all these things. He emphasized that these programs are already paid for with our tax dollars. So it's on us to take advantage of them, or the money just sits there, it doesn't get used, right? And also, it might not be the kind of thing that they get to they don't just hoard it and pile it. It might be like, hey, you can give up to $2 million away, but if they don't, they don't get to keep it, right? So basically, it's on us to go take advantage of what is available to us. And it was fascinating to listen to him talk about the different reasons that someone might want to go get a talk to these organizations and go through the process. He emphasized that, well, yeah, there, and this stuff is already funded. It's already paid for. He advised the to seek out free government and nonprofit resources directly, rather than relying on standard search engines like Google, specifically, because they don't actually do SEO, or they're gated searches, you can't actually search them with outside search engines like Google. Right? And so basically, he gave us examples like findhelp.org which is amazing. It's about local finding local help for things like food, housing, health, money.Lesley Logan 27:04  That, right there is so amazing how many people are struggling to afford groceries right now. Like, maybe, maybe you're not someone who is it, but maybe someone you know is. You can send them that information. Brad Crowell 27:15  findhelp.org you know, and there will be links in the show notes. So there's more links in the show notes. Lesley Logan 27:22  So many. Brad Crowell 27:22  Yeah. He talked about the SBA. He talked about Apex Accelerators, which I've never heard of before. He talked about career and job training. Lesley Logan 27:30  Oh, and turn your VPNs off, y'all. Brad Crowell 27:31  Yeah, yeah. They're, you know, if they're a government side, it might have trouble if you have a VPN on. He talked about HUD, which is like another United States government, housing urban development, and he said, there's free financial and debt counseling, right? And they can help you get out of debt.Lesley Logan 27:48  I mean, I had no idea, because, like so many of my friends and everyone had, like, use those companies that can, like, you know, supposedly help, but it could affect your credit at the same time. Like, who? Who knew if you use the government agency, maybe it would have been different.Brad Crowell 28:02  I wish I had known when I when I had a failed business. It would have been really helpful. Wish I had known. So anyway, what about you? I mean, all those things and there's still more. Lesley Logan 28:11  Okay, so we said it already. We're gonna say it again, because it's a Be It Action Item. Once you find a resource, book an appointment, okay? Matthew said, everybody just wants to fill out on application online, and wait for the money. You can't do that, he said, because you don't know. Brad Crowell 28:23  What did everybody wants to say what? Lesley Logan 28:23  Everybody wants to just fill out the applications online. Like, you know, like, oh, let me just do it online. It's just copy paste, copy paste. And he's saying, don't do that, because you don't know how the application should be filled out. And, like, there's always the little nuances, right? Like, we're currently working with lawyers who are filling out legal forms for us to go to Canada. So if we had done it ourselves, we wouldn't know the insight and the nuances to like, oh, actually, put this instead of that, because this will get you across. And that is actually going to be like, we have enough of those. So like, you want to make sure that you're working with someone who's like, fighting for you to fill it out correctly will tell you what certain things mean. I mean, sometimes I don't even know. It's like, you're like, oh, I think that's where I put my business name, and it's not, it's where you put your account number or something like that. So, you know, just work with the people. They're in the office I'm talking, I'm sure it'll brighten their day to hear what you're working on, right, what you need help with. Also, they often know the other people in the area, the community, the other resources to help you, right, like, oh, if I'm not the right resource, this person is, if you're starting a business or a nonprofit or side hustle, the smartest move is to call your local SBA office and speak with a counselor. Again, not something online, not a chatGPT. You gotta go and talk to someone. And then he also said, talk to experts who.Brad Crowell 29:42  SBA stands for Small Business Administration, right? So that's a federal government thing, but they have local offices around the country, so you can actually go in and make an appointment to to their office. In fact, also too, not that I'm like, a huge fan of the big banks, but big banks actually often have training programs for business owners, too.Lesley Logan 30:02  Yes, but we're not fans of big banks because they won't help you get an SBA.Brad Crowell 30:05  Almost never will they help you get a loan. But, you know, there are resources available there too, but the SBA is actually, like, trying to help you get the money. Lesley Logan 30:13  Yeah, I would fuck the big banks.Brad Crowell 30:17  If the big banks, like, honestly, the SBA doesn't let you apply for SBA funding directly through the SBA. You have to apply through a bank. You don't necessarily need to apply through a big bank, though. So that's the difference there.Lesley Logan 30:30  Right. So, and then also make sure you have the experts who can help you, help people like you, guide you to the right programs and the paperwork, and they usually do this for free. And you know, he's someone who loves to help people. So, like, there's, there's things out there. You're not on your own. Your friends and family might not be the best people to ask, but, you know what? Go to these offices and go, oh, they can't help you. Do you know who? Do you know who will, who can? Like, what else should I search? What should I be searching? Because I get the right thing. Like, they'll, they'll even, even at the DMV people help me, if you just ask the right questions and you're really nice. So trust me, people want to help people. Brad Crowell 30:34  Yeah, it's true. It's true. Well, what a wealth of information. Also, he has like, here's like, books that are like, $20 so, like, even if you're, you know, look, if you're looking for more and you, you know, want to check out his resources. He has that community. The community he built is like people trying to help people find the right stuff. So, I mean, it's just curious. It's just fascinating.Lesley Logan 31:29  Sounds super positive. Brad Crowell 31:30  It sounds really positive, yeah. Lesley Logan 31:31  Yeah. Who doesn't need that in their life? Anyways, share this with a friend who needs to hear it. Brad Crowell 31:36  Share it. Send it.Lesley Logan 31:37  This is the episode to share. There's so much in there for people, everybody.Brad Crowell 31:41  Episode 545, y'all, share it. Lesley Logan 31:43  545Brad Crowell 31:44  545Lesley Logan 31:44  I'm Lesley Logan. Brad Crowell 31:45  And I'm Brad Crowell. Thanks so much for being here. Lesley Logan 31:48  Oh, okay, you totally did. Show. We already said to share this. So now, go Be It Till You See It. Brad Crowell 31:55  Bye for now.Lesley Logan 31:57  That's all I got for this episode of the Be It Till You See It Podcast. One thing that would help both myself and future listeners is for you to rate the show and leave a review and follow or subscribe for free wherever you listen to your podcast. Also, make sure to introduce yourself over at the Be It Pod on Instagram. I would love to know more about you. Share this episode with whoever you think needs to hear it. Help us and others Be It Till You See It. Have an awesome day. Be It Till You See It is a production of The Bloom Podcast Network. If you want to leave us a message or a question that we might read on another episode, you can text us at +1-310-905-5534 or send a DM on Instagram @BeItPod.Brad Crowell 32:39  It's written, filmed, and recorded by your host, Lesley Logan, and me, Brad Crowell. Lesley Logan 32:44  It is transcribed, produced and edited by the epic team at Disenyo.co. Brad Crowell 32:49  Our theme music is by Ali at Apex Production Music and our branding by designer and artist, Gianfranco Cioffi. Lesley Logan 32:55  Special thanks to Melissa Solomon for creating our visuals. Brad Crowell 32:59  Also to Angelina Herico for adding all of our content to our website. And finally to Meridith Root for keeping us all on point and on time.Support this podcast at — https://redcircle.com/be-it-till-you-see-it/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Sam Sells is a retired U.S. Air Force officer turned impact investor and entrepreneur who has led the acquisition and management of over $200 million in commercial real estate assets. As co-founder of Impact Growth Capital and host of the Disruptive Capitalists podcast, Sam specializes in building wealth by solving critical housing challenges—especially in America's most neglected communities. His approach combines military discipline, systems thinking, and a passion for making a difference at scale. On this episode we talk about: – How Sam made his first dollar as a kid selling whatever he could—and why his last name “Sells” fits his entrepreneurial journey – Lessons from a global military career, building sustainable healthcare systems, and learning to create repeatable, high-impact outcomes – The moment in Chad, Africa, that sparked his mission to pursue financial freedom and help others achieve it – Why real estate became Sam's vehicle for impact and wealth, starting with mobile home parks and scaling to national projects – The realities of flipping homes, the misleading nature of TV real estate shows, and the importance of understanding the real numbers – How Sam used creative strategies like master lease agreements to acquire and improve properties with limited capital – The risks and pitfalls of real estate investing—over-leverage, mismanagement, and the brutal lessons of recent market cycles – Why America is the country's largest “slumlord,” and how Sam is tackling public housing's massive problems through public-private partnerships – How Impact Growth Capital works with HUD and local housing authorities to renovate or rebuild thousands of government-owned units, using government funding and innovative systems to guarantee returns and create real social mobility – The unique, vertically integrated model that combines real estate development, nonprofit resident support, and measurable poverty reduction – The challenges and rewards of scaling a national impact business, and why entrepreneurship—not bureaucracy—is the key to solving America's toughest problems – How others can get involved as investors or partners in this mission Top 3 Takeaways 1. Impact and Profit Can Coexist: You can build wealth and make a real difference by solving urgent problems—like America's public housing crisis—at scale. 2. Creative Structures Unlock Opportunity: Master leases, public-private partnerships, and government-backed funding can open doors for investors willing to learn and innovate. 3. Entrepreneurship Drives Change: Lean, mission-driven entrepreneurs are better equipped than government alone to tackle complex social issues and deliver lasting results. Notable Quotes – “No matter how hard he works, he's never going to become free. What do I need to do to become free—and how can I help as many other people become free as possible?” – “The number one slumlord in America is America. Public housing authorities own nearly 900,000 units—seven times the size of Blackstone.” – “We can do good and do well at the same time. Our intent is to help millions get out of poverty and help our investors make a great return in the process.” Connect with Sam Sells: Email: sam@impactgrowthcap.com Website: impactgrowthcap.com Podcast: Disruptive Capitalists LinkedIn: Search “Sam Sells Impact Growth Capital”

The GovNavigators prepare for Independence Day weekend in this special pop-up episode of the GovNavigators Show. Unfortunately, leadership in Congress likely won't be enjoying the fireworks, as the administration insists everyone stay in town until the "Big, Beautiful Bill" is on the President's desk. Meanwhile, Russ Vought calls for a shakeup in federal auditing, and HUD gets a new headquarters.

In this episode of "Kent Hance: The Best Storyteller in Texas," host Kent Hance  shares personal stories and insights on leadership, history, and politics. The discussion covers the Falklands War, the swearing-in of Andrew Hughes as deputy secretary of HUD, and the complexities of U.S. political negotiations. The episode blends thoughtful reflections on historical events with anecdotes and humor, highlighting the importance of resilience and recognizing potential in young leaders. Listeners gain perspective on both past and current events through engaging storytelling and informed commentary.

Trump Just Changed EVERYTHING for Disabled Veterans! Hosted by: David Pere Episode Type: VA Policy Breakdown, Commentary Length: ~10 minutes Watch on YouTube: Trump Just Changed EVERYTHING for Disabled Veterans!

The Department of Housing and Urban Development will soon transfer employees from its downtown DC office into the National Science Foundation's headquarters in Alexandria, Virginia. HUD's move is expected to entirely displace close to 2000 NSF employees already working there. But so far, there's no plan on when the move will happen or where NSF will go next Here with more on this developing story is Federal News Network's Drew Friedman, See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Thursday, June 26th, 2025Today, Republicans capitulated to the lies that spewed forth from the mouth of Emil Bove in his confirmation hearing before the Senate Judiciary Wednesday; Zohran Mamdani defeated Cuomo in the New York City mayoral primary sending another message that people power is strong than the political money machine; the Trump administration is kicking the National Science Foundation out of its offices as HUD moves in; a suspect linked to a Palm Springs fertility clinic bombing has died in federal custody; Representative LaMonica McIver has pled not guilty to the ridiculous charges brought against her by parking lot lawyer Alina Habba; a federal judge has halted Trump's bid to end collective bargaining rights for federal workers; a judge holds a hearing over bail conditions for Kilmar Abrego Garcia; and Allison and Dana deliver your Good News.Thank You, Naked WinesTo get 6 bottles of wine for $39.99, head to nakedwines.com/DAILYBEANS and use code DAILYBEANS for both the code and password.Thank You, Native PathGet up to 66% Off, free shipping, and a 365-Day Money Back Guarantee at nativekrill.com/dailybeansCheck out Dana's social media campaign highlighting LGBTQ+ heroes every day during Pride Month - IG|dgcomedy, Dana Goldberg (@dgcomedy.bsky.social)Protected Whistleblower Disclosure of Erez Reuveni - Free Bonus Episode of UnJustified Guest: Nick SchwellenbachStephen Miller's Financial Stake in ICE Contractor PalantirProject On Government Oversight (POGO)@schwellenbach - Blue Sky StoriesAaron Rupar: "SCHIFF: Did you suggest telling the courts 'fuck you' in any manner? BOVE: I don't recall SCHIFF: You just don't remember that" — BlueskyRep. McIver pleads not guilty to assault charges following immigration center visit - ABC NewsTrump Administration Ousts National Science Foundation from Headquarters Building | Scientific AmericanFederal judge halts Trump's order to end collective bargaining rights for many federal workers | CNN PoliticsDaniel Park, suspect linked to Palm Springs fertility clinic bombing, dies in federal custody, Bureau of Prisons says | CBS NewsGood Trouble: The new Battle Buddies program asks veterans to sign up to attend public immigration court hearings, escort Afghan allies into and out of court and “show silent support” for individuals involved. Battle Buddies — #AfghanEvacAdvocates recruit vets to attend Afghan allies' immigration hearings | Military Times From The Good NewsZohran Mamdani pledged millions to trans health care if elected NYC mayor. He just won a key victory. - LGBTQ NationLA County Overdose PreventionLA Community Health Project - Los AngelesTexas Equal Access FundTEA Fund Become A GEM - YouTubeCurative ConnectionsRabbit.orgWaffles, a Netherland Dwarf & Bunny Rabbit Mix in Baltimore, MD | PetfinderReminder - you can see the pod pics if you become a Patron. The good news pics are at the bottom of the show notes of each Patreon episode! That's just one of the perks of subscribing! patreon.com/muellershewrote Federal workers - feel free to email me at fedoath@pm.me and let me know what you're going to do, or just vent. I'm always here to listen.Share your Good News or Good TroubleMSW Good News and Good Trouble Check out other MSW Media podcastshttps://mswmedia.com/shows/Subscribe for free to MuellerSheWrote on Substackhttps://muellershewrote.substack.comFollow AG and Dana on Social MediaDr. Allison Gill Substack|Muellershewrote, BlueSky|@muellershewrote , Threads|@muellershewrote, TikTok|@muellershewrote, IG|muellershewrote, Twitter|@MuellerSheWrote,Dana GoldbergTwitter|@DGComedy, IG|dgcomedy, facebook|dgcomedy, IG|dgcomedy, danagoldberg.com, BlueSky|@dgcomedyHave some good news; a confession; or a correction to share?Good News & Confessions - The Daily Beanshttps://www.dailybeanspod.com/confessional/ Listener Survey:http://survey.podtrac.com/start-survey.aspx?pubid=BffJOlI7qQcF&ver=shortFollow the Podcast on Apple:The Daily Beans on Apple PodcastsWant to support the show and get it ad-free and early?Supercasthttps://dailybeans.supercast.com/Patreon https://patreon.com/thedailybeansOr subscribe on Apple Podcasts with our affiliate linkThe Daily Beans on Apple Podcasts

On today's show we are reporting on a change to financing rules in the US that stand to improve the numbers for multi family apartment projects. We are talking about the HUD financing. This is more difficult financing to get than agency debt like Fannie Mae or Freddie Mac. But it is superior financing. There are several different loan types. I'm going to focus on the HUD 223F loan, but everything I'm about to say also applies to the HUD 221D4 which is a construction loan combined with a permanent loan. The reason we are talking about it now is the result of a new policy change is part of a new announcement .Under the existing rules you can save up to 0.35% on your annual MIP with the Green MIP Reduction program for HUD 223(f) loans. This also applies to new construction loans like the 221d4.  The policy change eliminates the distinction for Green loans and normalizes the mortgage insurance premium at 0.25% for all multi-family loans. This reduction in rate means that all other things being equal, you could borrow 4% more in loan principal for the same monthly loan payment. -------------**Real Estate Espresso Podcast:** Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)   iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)   Website: [www.victorjm.com](http://www.victorjm.com)   LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)   YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)   Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)   Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)  **Y Street Capital:** Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)   Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)   Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)  

We are releasing today on our podcast show a repurposed webinar that we produced on June 11, 2025 entitled “What is happening at the federal agencies that is relevant to the residential mortgage and settlement service industries.” During this podcast, we will inform you about recent developments at federal agencies, including the CFPB, HUD/FHA, OCC, FDIC, FRB and USDA (collectively, the “Agencies”), as well as Congress, the White House, states and the courts. Some of the issues we consider are:   •     Changes in leadership and priorities at the CFPB, as well as efforts to significantly reduce the funding and staffing at the CFPB and related lawsuits. •     House Republican criticism of various CFPB actions under former Director Chopra. •     The rescission and revisiting of CFPB final rules, proposed rules and informal guidance, including the Nonbank Enforcement Order Registry final rule, Residential Property Assessed Clean Energy (PACE) Financing final rule, Residential Mortgage Servicing proposed rule, and FCRA “Data Broker” proposed rule. •     The termination of CFPB enforcement efforts and revisiting of CFPB redlining consent orders. •     The rescission of Community Reinvestment Act rule amendments. •     The White House directive for the federal government to eliminate the use of disparate-impact liability. •     The status of the HUD disparate impact rule under the Fair Housing Act. •     HUD's reversal of various FHA policies adopted during the Biden Administration, including guidance regarding appraisal bias and reconsideration of value. •     Trigger leads bills. •     White House firings of independent agency board/commission members and efforts to exert control over independent agencies. •     State efforts to fill the void left by the actions at the CFPB.   John Socknat, co-head of our Consumer Financial Services Group, moderated and participated in the presentation, along with the following other members of the Consumer Financial Services and Mortgage Banking Groups: Richard Andreano, Jr., John Culhane and Matthew Morr.

Welcome to Dev Game Club, where this week we finish our series on 2004 indie classic Cave Story. We talk a lot about difficulty, a bit about story, and also just what a miracle a game like this is from one person. Dev Game Club looks at classic video games and plays through them over several episodes, providing commentary. Sections played: Finished (Brett), to dragons (Tim) Issues covered: killing baby dragons, the boss rush, being exhausted beating your head against the wall, drinking a potion maybe too early, what is easy when you play a game every day, the hardcore game underneath, the punishing weapon system, depth of weapon strategy, bad patterns, save points as a balancing mechanism, the charm offensive, story depth and characters, motivating the player, having the music stop to introduce a character, the jetpack weapon, finding the map really late, keys that aren't keys, a HUD on top of level information, parallax, designing for player scalability, macro difficulty and player choice, linearity, having a choice at the end, committing to make a game more difficult or easier for yourself, the music options.  Games, people, and influences mentioned or discussed: League of Legends, Nintendo Treehouse, Hollow Knight/Silksong, From Software, Bayonetta, Nintendo Switch, Calamity Nolan, Resident Evil 4, Jamie Fristrom, MegaMan, Kaeon, Earthbound, Mario (series), Metroid, Castlevania, God of War, Celeste, Zelda: Ocarina of Time, Dark Souls, KyleAndError, Metal Gear Solid (series), Fez, Spelunky, Derek Yu, Outer Wilds, LostLake, Kirk Hamilton, Aaron Evers, Mark Garcia.  Next time: Spelunky! Links: Music for Podcasting!  Twitch: timlongojr  Discord  DevGameClub@gmail.com 

David Waldman and Greg Dworkin are back with the latest in KITM and KITM accessories. You might not know that Dennis Kucinich was mayor of Cleveland, or that Jerry Springer was mayor of Cincinnati, yet you probably know every mayor of New York City over your entire life, maybe earlier. They NYC mayoral race is like no other, and Zohran Mamdani's Democratic primary win is a win like no other. The establishment fears him; the political class has been trying to stop him, and with good reason. Zohran is a populist who seems to actually be a man of the people! Not many saw him coming, because no one would bet that voters could find someone with genuine merit. Credit should go to ranked choice voting's ability to sift out the individual voter's judgement away from the rankest choice, Andrew Cuomo. As Donald K. Trump famously said of his bombing of Iran, “I came, I saw, I conquered”. Lately though, Trump's been quoted, “Whether 'tis nobler in the mind to suffer the slings and arrows of outrageous fortune, or to take arms against a sea of troubles and by opposing end them?” (He might have picked up that quote elsewhere.) Is Emil Bove the most unethical judicial nominee in modern history? Or is the real sinner the whistleblower who snitched on him? If Trump is infallible, perceiving his actions as failures is heresy, and threatening him is blasphemy, and the whole idea of ethics and morality is open to discussion. HUD likes the National Science Foundation headquarters, so they are throwing out 1,800 employees. Maybe they'll locate affordable housing for them. At least you won't see Big Balls hanging out around DC… unless you mistake him for JD Vance.

In this inspiring episode of Investing with Purpose, we sit down with Russell Hughes, a humble IHG member, creative force in the game development world, and faith-driven real estate investor. From a childhood shaped by a "starving artist" father and hard life lessons, to building successful gaming companies and getting his hands dirty flipping HUD homes, Russell's journey is anything but conventional.We explore how faith pulled him back from wayward paths, how he brings purpose into the work he does today, and how he's navigating the early stages of real estate investing with spiritual clarity. This episode is a powerful testament to aligning your calling with your career, and how ethical investing is not just possible—but purposeful.TakeawaysInvesting should reflect personal beliefs and values.Many Christians consider the ethical implications of their investments.Financial advisors play a crucial role in aligning investments with faith.Return and safety are important, but not the only factors.Ethical investments can lead to better alignment with core beliefs.Navigating ethical dilemmas is essential for faith-based investing.Investors should seek advisors who understand their values.Values-based investing can enhance personal fulfillment.Financial planning should incorporate ethical considerations.Investing wisely involves a holistic view of one's beliefs.TitlesFaith Meets Finance: A New Approach to InvestingInvesting with Integrity: Aligning Values and WealthChapters00:00 Introduction to Faith-Driven Investing01:21 Early Influences and Family Background03:02 Turning Points and Lessons Learned05:34 Faith and Values in Financial Decisions07:14 Purposeful Investments and Impact08:08 Navigating Profits vs. Principles10:29 Legacy and Wealth Transfer13:51 Community and Mentorship in Investing16:05 Dream Investments and Future Aspirations26:59 New ChapterRussell was born Texas to a loving mom and Starving Artist father who passed away when he was a young teen. After years of wayward living, Russell worked his way into the Game Development Industry and worked on several number 1 titles as well as helped start several game companies. Early on, he started buying HUD homes to do the slow flip while living in them. Russell notes that, along the way, God was not letting him slip away, He has always called him back into discipline no matter how much he strayed. He is amazing.Email: russsssman@gmail.comLinkedIn: linkedin.com/in/russellhughesIG: @russelllhughesConnect with UsAre you interested in joining a community of like-minded individuals who aspire to build true wealth through real estate passive investing? Go to IHG Investor Club to learn more!

In today's episode of Uncontested Investing, we dig into one of the most powerful tools at your disposal as a real estate investor: data. It's not just about crunching numbers, it's about making smarter, faster, more strategic decisions in a market where the margin for error is razor-thin.   We break down how investors can use both free and paid data tools to spot trends, find deals, set optimal rental rates, and avoid costly mistakes. From migration patterns to ZIP-code-based labor rates, they share real-world ways to let data guide your portfolio growth.    If you're still relying on your gut, this episode is your wake-up call.   Key Talking Points of the Episode   00:00 Introduction 01:16 What patterns tell us (vacancy, rent shifts, migration) 02:34 How market influences can change your buy box and strategies 04:03 Property-type trends and market adaptability 05:35 Free tools: Zillow, Redfin, Rentometer, Census.gov, HUD 07:20 Paid tools: CoStar, PropStream, Roofstock, AirDNA, Dwelling 09:22 Local tools: Agents, REIAs, county offices 11:02 How data can help you identify emerging markets 12:01 Avoiding emotional buying with consistent criteria 13:03 The cost of ignoring data: overpaying for properties 15:06 Analysis paralysis: when too much data kills the deal 17:00 Why you need to use data alerts as an investor 18:14 Weekly rent comps and rent optimization 19:31 Balancing rental increases with tenant retention 20:23 Manual tracking: using spreadsheets for micro-market analysis   Quotables   “Use the data to take emotion out of it. You'll never get a wrong answer when math is leading the way.”   “Census.gov will smack you in the face with the truth. It's not customizable—it's real.”   “One bad deal early can drive a new investor right out of the game. Data helps you avoid that.”   Links   RCN Capital https://www.rcncapital.com/podcast https://www.instagram.com/rcn_capital/ info@rcncapital.com   REI INK https://rei-ink.com/

"EDITH HEAD: OLD HOLLYWOOD'S QUEEN OF FASHION" (093) EPISODE 93 -  6/23/25 With eight Academy Awards to her name — more than any other woman in history — EDITH HEAD wasn't just a costume designer; she was a storyteller in fabric, silhouette, and sparkle. From BETTE DAVIS to GRACE KELLY to AUDREY HEPBURN, she dressed the biggest stars of the silver screen, leaving an indelible mark on both fashion and film. In this episode, we explore how a shy schoolteacher became the most powerful woman in Hollywood wardrobes, her collaborations with iconic directors like Alfred Hitchcock, and how her designs helped shape characters, define eras, and influence fashion far beyond the studio lot. So, slip into something fabulous, and let's step behind the curtain into the life and legacy of the great Edith Head. SHOW NOTES:  Sources: Dressing Up The Stars: The Story of Movie Costume Designer Edith Head (12022), by Jeanne Walker Harvey;  Edith Head: The 50 Year Career of Hollywood's Greatest Costume Designer (2010), by Jay Jorgensen; Edith Head: The Life and Times of Hollywood's Celebrated Costume Designer (2003), by David Chierichetti; Edith Head's Hollywood (1983), by Edith Head; The Dress Doctor (1959), by Edith Head; “How To Dress For the Oscars,” February 11, 2015, ⁠www.oscars.com⁠; Wikipedia.com; TCM.com; IBDB.com; IMDBPro.com; Movies Mentioned:  Wings (1927); The Saturday Night Kid (1929); Love Me Tonight (1932); She Done Him Wrong (1933); Little Miss Marker (1934); Rhythm on the Range (1936); College Holiday (1936); The Jungle Princess (1936); Internes Can't Take Money (1937); The Big Broadcast of 1938 (1938); Thanks for the Memories (1938); Mad about Music (1938); Dangerous To Know (1938);  Beau Geste (1939); Remember the Night (1939); The Cat and the Canary (1939);  The Lady Eve (1941); Sullivan's Travels (1941); The Glass Key (1942); I Married a Witch (1942); Star Spangled Rhythm (1942); Hold That Blonde (1945); The Blue Dahlia (1946); Holiday Inn (1942); The Uninvited (1944); Double Indemnity (1944); Incendiary Blonde (1945); To Each His Own (1946); The Strange Love of Martha Ivers (1946); A Connecticut Yankee in King Arthur's Court (1949); The Great Gatsby (1949);  Notorious (1946); The Emperor's Waltz (1948); The Heiress (1949); All About Eve (1950); Sunset Boulevard (1950); Samson & Delilah (1949); A Place in the Sun (1951); Roman Holiday (1953); Sabrina (1954);  Funny Face (1957); Rear Window (1954); To Catch a Thief (1955); The Trouble With Harry (1955); The Man Who Knew Too Much (1956); Vertigo (1958); Ace In the Hole (1951); The Greatest Show on Earth (1952); Shane (1953); White Christmas (1954);  The Rose Tattoo (1955); The Rainmaker (1956); The Ten Commandments (1957); Loving You (1958); The Pink Panther (1963); A Shot In the Dark (1964); The Man Who Shot Liberty Valance (1963); Love With the Proper Stranger (1963); Sex and the Single Girl (1964); Inside Daisy Clover (1965); The Great Race (1965);  Penelope (1966); This Property is Condemned (1966); G.I. Blues (1960);  Blue Hawaii (1961);  Girls! Girls! Girls! (1962);  Fun In Acapulco (1963);  Roustabout (1964); Paradise Hawaiian Style (1966); What a Way to Go! (1964); Sweet Charity (1969); Summer and Smoke (1961);  Hud (1963); The Birds (1963); Harlow (1965); Barefoot in the Park (1967); Butch Cassidy & the Sundance Kid (1969); Topaz (1969); Airport (1970); Airport ‘75 (1974); Airport ‘77 (1977); Myra Breckenridge (1970); Lady Sings The Blues (1972); The Sting (1974); The Great Waldo Pepper (1975);,  The Man Who Would Be King (1976);  Family Plot (1976); Gable and Lombard (1976); W.C. Fields and Me (1976); Rooster Cogburn (1975); Sextette (1978); Dead Men Don't Wear Plaid (1982); --------------------------------- ⁠http://www.airwavemedia.com⁠ Please contact ⁠sales@advertisecast.com⁠ if you would like to advertise on our podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices

Beyond the Resume Podcast with Sheri Thompson (Stumbling into Real Estate Executive)

On Friday's show: After last May's derecho and then Hurricane Beryl in July, it seemed reasonable to expect some disaster aid from the federal government. So, why has the way the city spends these particular funds been controversial?Also this hour: Saturday is Make Music Day here in Houston and in more 2,000 cities worldwide. In anticipation, we talk with some folks behind some performances around the city, including a free concert from Dacamera at the Menil Collection inspired by the works of artist Rene Magritte. Flutist Hunter O'Brien gives us a preview.Then, from Fort Bend County Judge KP George announcing he's running for a third term — but this time as a Republican -- to a mongoose that escaped from a wildlife park being safety captured after he turned up at a local pub, we break down The Good, The Bad, and The Ugly of the week.And just when you thought it was safe to go back in the water, we explore the cultural impact of the movie Jaws 50 years after its release and offer a glimpse at what life was like along the coast in Galveston at the time.

In this episode, Laura Desiree joins Seggs Talk Radio to discuss her multifaceted career in sex work, burlesque performance, and erotic writing. She shares her journey from being a Naked News anchor to becoming an intimacy coordinator for film and television. The conversation delves into topics such as the societal stigma surrounding sex work, the impact of erotic content in movies, and the challenges of maintaining sexual authenticity. Desiree also talks about her show 'Aero Unbound,' where she invites writers and the audience to share their intimate stories. The discussion touches on the importance of embracing both the highs and lows of life, the dynamics of hookup culture, and the nuances of male vulnerability. Throughout, Desiree emphasizes the need to break free from traditional taboos and explore sexual expression openly and authentically.EPISODE THEMES

[HECMWorld] Do digital newsletters generate reverse mortgage leads? [Santa Monica Daily Press] California's $100 Million Mortgage Relief Program Includes Reverse Mortgages. [The Federal Reserve] Projected 2026 HUD layoffs, and the Trump administration is scrambling to rehire federal workers despite plans for further layoffs in 2026. Watch our video podcast here!

In episode 231 of America Adapts, host Doug Parsons speaks with Robin Keegan, a nationally recognized leader in disaster recovery, resilience, and climate adaptation. With senior roles at FEMA and HUD during the Biden-Harris Administration—and a pivotal role in Louisiana's post-Katrina recovery—Robin brings unmatched insight into how federal recovery systems work, and more importantly, how they fail. As the current administration actively undermines the government's ability to prepare for and respond to climate disasters, Robin offers a frank assessment of what's at stake and what a truly equitable, climate-ready recovery system should look like. She also shares lessons from her time on the frontlines and how she's now helping communities adapt before the next crisis hits. It's a great episode focusing on community adaptation! Check out the America Adapts Media Kit here! Subscribe to the America Adapts newsletter here. Donate to America Adapts Listen to America Adapts on your favorite app here! Facebook, Linkedin and Twitter: https://www.facebook.com/americaadapts/ @usaadapts https://www.linkedin.com/in/doug-parsons-america-adapts/ Links in this episode: President Trump appoints new members to FEMA Review Councilhttps://www.ems1.com/disaster-management/president-trump-appoints-new-members-to-fema-review-council Doug Parsons and Speaking Opportunities: If you are interested in having Doug speak at corporate and conference events, sharing his unique, expert perspective on adaptation in an entertaining and informative way, more information can be found here! Facebook, Linkedin and Twitter: https://www.facebook.com/americaadapts/ @usaadapts https://www.linkedin.com/in/doug-parsons-america-adapts/ Donate to America Adapts   Follow on Apple PodcastsFollow on Android Now on Spotify! List of Previous Guests on America Adapts Follow/listen to podcast on Apple Podcasts. Donate to America Adapts, we are now a tax deductible charitable organization! The 10 Best Sustainability Podcasts for Environmental Business Leadershttps://us.anteagroup.com/news-events/blog/10-best-sustainability-podcasts-environmental-business-leaders Join the climate change adaptation movement by supporting America Adapts!  Please consider supporting this podcast by donating through America Adapts fiscal sponsor, the Social Good Fund. All donations are now tax deductible! For more information on this podcast, visit the website at http://www.americaadapts.org and don't forget to subscribe to this podcast on Apple Podcasts.   Podcast Music produce by Richard Haitz Productions Write a review on Apple Podcasts ! America Adapts on Facebook!   Join the America Adapts Facebook Community Group. Check us out, we're also on YouTube! Executive Producer Dr. Jesse Keenan Subscribe to America Adapts on Apple Podcasts Doug can be contacted at americaadapts @ g mail . com

Today, Sun editor David Krause talks about the rental market in Colorado with HUD certified housing counselor Pat Noonan, who was on our Colorado SunFest panel talking about the challenges across the state, including a record level of evictions.See omnystudio.com/listener for privacy information.

CR has purchased a 2025 Audi Q6 e-tron Quattro Premium+ for our test program. The first of Audi's EVs to use their new Premium Platform Electric (PPE) architecture, the Q6 is designed to compete with the Lexus RZ, BMW iX, Genesis Electrified GV70, Rivian R1S, and Tesla Model Y. We share our first impressions on how the Q6 drives, its abundant safety features, range, and many, many, MANY controls, including its polarizing HUD display. We also discuss the most efficient way to drive a vehicle that can switch between EV and hybrid modes, how horsepower is calculated in a hybrid car, and a good replacement for a Mazda CX-5 for a family with many large dogs! Test results here: https://www.consumerreports.org/cars/?EXTKEY=YSOCIAL_YT Exclusive CR discount for Talking Cars viewers: https://www.cr.org/jointalkingcars?EXTKEY=YSOCIAL_YT

CR has purchased a 2025 Audi Q6 e-tron Quattro Premium+ for our test program. The first of Audi's EVs to use their new Premium Platform Electric (PPE) architecture, the Q6 is designed to compete with the Lexus RZ, BMW iX, Genesis Electrified GV70, Rivian R1S, and Tesla Model Y. We share our first impressions on how the Q6 drives, its abundant safety features, range, and many, many, MANY controls, including its polarizing HUD display. We also discuss the most efficient way to drive a vehicle that can switch between EV and hybrid modes, how horsepower is calculated in a hybrid car, and a good replacement for a Mazda CX-5 for a family with many large dogs! Test results here: https://www.consumerreports.org/cars/?EXTKEY=YSOCIAL_YT Exclusive CR discount for Talking Cars viewers: https://www.cr.org/jointalkingcars?EXTKEY=YSOCIAL_YT

CR has purchased a 2025 Audi Q6 e-tron Quattro Premium+ for our test program. The first of Audi's EVs to use their new Premium Platform Electric (PPE) architecture, the Q6 is designed to compete with the Lexus RZ, BMW iX, Genesis Electrified GV70, Rivian R1S, and Tesla Model Y. We share our first impressions on how the Q6 drives, its abundant safety features, range, and many, many, MANY controls, including its polarizing HUD display. We also discuss the most efficient way to drive a vehicle that can switch between EV and hybrid modes, how horsepower is calculated in a hybrid car, and a good replacement for a Mazda CX-5 for a family with many large dogs! Test results here: https://www.consumerreports.org/cars/?EXTKEY=YSOCIAL_YT Exclusive CR discount for Talking Cars viewers: https://www.cr.org/jointalkingcars?EXTKEY=YSOCIAL_YT

Hey, Note Closers! In this episode of The Note Closer Show, Scott Carson dives deep into the world of reverse mortgages and how to potentially profit from them! Scott walks through the process of evaluating a tape of 52 reverse mortgages, offering insights into identifying deals, assessing property values, and understanding the foreclosure process in different states. Learn how to analyze potential profits, estimate rehab costs, and navigate the complexities of HUD and BPOs. Whether you're a seasoned note investor or just starting out, this episode is packed with actionable information to help you make informed decisions.Here's What You'll Discover:Reverse Mortgage Overview: Understand the basics of reverse mortgages, including how they work, why they default, and the potential equity involved.Tape Analysis: Learn how to analyze a tape of reverse mortgages, including key data points like BPO, estimated full payoff, and foreclosure status.State-Specific Foreclosure Processes: Discover the differences in foreclosure timelines between states like Oklahoma and North Carolina and how that impacts your investment strategy.Valuation & Rehab: Strategies for evaluating property values, estimating rehab costs, and determining if a property is worth foreclosing on vs. selling as-is.BPO & Due Diligence: The importance of obtaining Broker Price Opinions (BPOs) and conducting thorough due diligence, including title reports and interior inspections.Profit Calculation: Walk through calculating potential profits, considering factors like money costs, closing costs, and potential returns at foreclosure auctions.Property Examples: Review of real property examples, including analysis of estimated values and rehab estimatesThe 8-9 reverse mortgages that look attractive.Don't forget to like, subscribe, and hit the notification bell so that you are the first to know about new episodes and note investing strategies!Conclusion:Evaluating reverse mortgages can be overwhelming. In this episode, Scott breaks it all down to make it manageable. Make sure to perform the due diligence to determine a property's real potential!Map of the NotesWatch the Original VIDEO HERE!Book a Call With Scott HERE!Sign up for the next FREE One-Day Note Class HERE!Sign up for the WCN Membership HERE!Sign up for the next Note Buying For Dummies Workshop HERE!Love the show? Subscribe, rate, review, and share!Here's How »Join the Note Closers Show community today:WeCloseNotes.comThe Note Closers Show FacebookThe Note Closers Show TwitterScott Carson LinkedInThe Note Closers Show YouTubeThe Note Closers Show VimeoThe Note Closers Show InstagramWe Close Notes Pinterest

In this powerhouse episode of Lifetime Cash Flow through Real Estate Investing, Rod sits down with long-time friend and SEC attorney Merrill Kaliser for a wide-ranging conversation packed with legal insights, market trends, and real-world investing wisdom. From navigating SEC scrutiny and avoiding legal pitfalls to seizing massive opportunities in senior housing and Texas development, Merrill shares his journey from bankruptcy law to building over 9,000 units. They dive into HUD financing myths, the critical role of operators, and why success boils down to people, systems, processes, and data. This episode is a must-listen for serious investors who want to scale smart and stay protected. Here's some of the topics we covered: Merrill's Background In Real Estate & Being an Attorney Behind the Scenes of Merrill's Most Profitable Property Deals What Really Happens Inside a Top SEC Law Firm What Every Investor Needs to Know About SEC Legal Protection Recourse vs Nonrecourse Loans and Why It Could Make or Break You How Interest Rates Are Shaking Up the Real Estate Game Merrill's Unfiltered Breakdown of Today's Economic Landscape Why Senior Living Could Be the Sleeper Asset Class of the Decade   To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com    For more about Rod and his real estate investing journey go to www.rodkhleif.com   Please Review and Subscribe  

In this episode of Seggs Talk Radio, host Thea welcomes Nicholas Velotta, a relationship scientist, to discuss the interplay between academia, technology, and modern dating dynamics. They explore the seasonality of divorce, the importance of rituals in relationships, and the challenges of translating academic research into actionable insights. Nicholas shares personal experiences about growing up queer, the impact of mentorship, and the challenges and strategies of navigating intimacy. The conversation also delves into the influence of technology on Gen Z's approach to intimacy, dating app fatigue, and the psychological aspects of attachment styles and dating preferences.EPISODE THEMES

HUD is working on a proposed rule that would let more housing authorities cut off federal rental aid after two years and require recipients to work—without Congress passing a new law. In today's episode, we break down what's in the rule, why housing advocates are alarmed, and how HUD might legally justify this move under the federal rulemaking process. We'll also explore how similar past efforts failed and what this could mean for renters, landlords, and developers alike. If this rule goes through, it could fundamentally alter how Section 8 operates—and reshape the affordable housing landscape across the U.S. Read the NPR report here: https://www.npr.org/2025/06/04/nx-s1-5422410/housing-rent-assistance-time-limits-work-requirements-hud Subscribe to the BiggerPockets Channel for the best real estate investing education online! Become a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Je to možno najšikovnejšia ukrajinská operácia vojny s Ruskom, dokonca ju prirovnávajú k prekvapivému japonskému útoku na Pearl Harbor.Pár dní pred začiatkom mierových rokovaní v Istanbule sa totiž Ukrajincom podarilo zničiť možno až tretinu ruských strategických bombardérov.Tomáš Prokopčák sa v podcaste Dobré ráno rozpráva s Matúšom Halásom z českého Ústavu medzinárodných vzťahov v Prahe.Zdroj zvukov: ABC NEWSOdporúčanieŠtátne aj súkromné médiá čelia tlakom, politikov aj biznisu. Kedy teda bojovať a kedy odísť? A ako sa médiám vlastne darí? O zodpovednosti, slobode a médiách bude Zuzana Kovačič Hanzelová diskutovať už najbližší pondelok 9. júna v bratislavskom Kácečku s novinárkou Gabrielou Kajtárovou a komikom a bývalým novinárom Tomášom Hudákom. Dnes teda odporúčam ísť si to pozrieť.–Všetky podcasty denníka SME nájdete na⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ sme.sk/podcasty⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠–Odoberajte aj audio verziu denného newslettra⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ SME.sk⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ s najdôležitejšími správami na⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ sme.sk/brifing⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Episode 387 Show Notes Topic of the show: Staying On Your Toes, Sponsored by Patron DF On this week's show, RH and AG discuss staying current and expanding your horizons in aviation.  How do you gain proficiency and confidence?  Why is this so important in your aviation story?   We also discuss a popular EFB routing issue, base entry reporting, and more of your awesome aviation questions.  This week's show is packed with aviation gold!  Enjoy! Links: https://asrs.arc.nasa.gov/publications/callback.html Timely Feedback: 1. Patron 1dullgeek responds to EFB routing issues 2. The CA has words for RH 3. Army IP DS shows us what a view through the HUD looks like 4. Anonymous from ForeFlight explains the EFB error issue 5. Anonymous from ForeFlight also explains the issue 6. Patron SD sent audio on pronunciation of French chain restaurants in the UK   Feedback 1. Patron SLS asks an IFR routing question 2. Patron ES asks about pattern entry instructions 3. Patron DS shares a Class C story 4. Patron TGS, MD talks “Callback” and penguin consumption for survival Have a great week and thanks for listening!  Visit our website at OpposingBases.com You can support our show using Patreon or visiting our support page on the website.  Keep the feedback coming, it drives the show! Don't be shy, use the “Send Audio to AG and RH” button on the website and record an audio message. Or you can send us comments or questions to feedback@opposingbases.com.  Music bumpers by audionautix.com.  Third party audio provided by liveatc.net.  Legal Notice The views and opinions expressed on Opposing Bases Air Traffic Talk are for entertainment purposes only and do not represent the views, opinions, or official positions of the FAA, Penguin Airlines, or the United States Army.  Episodes shall not be recorded or transcribed without express written consent. For official guidance on laws, rules, and regulations, consult an aviation attorney or certified flight instructor. 

Author and financial expert, Chris Whelan, joins Keith as they explore the intricacies of the housing market's potential future. Chris drops an intriguing prediction of a possible 20% price correction. They dive deep into the complex world of real estate, examining the pandemic's significant impact on mortgages and economic trends. The conversation reveals the behind-the-scenes challenges of the housing market, from government interventions to the nuanced effects of interest rates and forbearance programs. They unpack the struggles in commercial real estate, particularly highlighting the unique challenges in markets like New York's rent-controlled properties. Chris's new book "Inflated: Money, Debt, and the American Dream" promises an insightful journey through America's economic transformation, tracing how the nation evolved from an agrarian society to a global economic powerhouse. Show Notes: GetRichEducation.com/556 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, what's the state of the housing market for the next five years, and could what's happening in the foreclosure market affect it? I see relative housing market price stability. My guest sees cracks. This could be somewhat of a debate today, then two great new cash flow and real estate markets in the same state that we're helping your portfolio with on get rich education, mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider. Their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with the Better Business Bureau and now over 5000 houses renovated. There's zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter, remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com.   Corey Coates  1:56   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:12   Welcome to GRE from Edison, New Jersey to Edinburgh, Scotland, where I am today, and across 188 nations worldwide, I'm Keith Weinhold, and you are back for another wealth building week on get rich education. Today's guest came to me recommended. It came from a guest that we've had on the show here before, Jim Rickards and his daughter Ally Rickards. His name is Christopher Whelan. He has a distinguished background. Comes from a prominent family, and he's the author of a new book that just published a few weeks ago. His father, Richard Whelan, was the biographer of Joe Kennedy, and was advisor to presidents and Fed chairman and today's guest, his son there, Chris. He has done a lot of work in DC. He lives just north of New York City today. So I guess coming recommended from Jim Rickards and learning a few things about today's guest helped me want to host him on the show. So though I'm just meeting him for the first time right here on the show, as it turns out, I learned that he has mentioned on other channels that real estate prices could correct down 20% and fall back to 2020 levels. I absolutely don't see how that's possible in any way. I'm going to bring that up with him, so we'll see. This could turn into somewhat of a debate. Like I said last week, I believe that significantly falling housing prices. That's about as likely as grocery store prices falling back to 2020 levels. Yes, I am in Edinburgh, Scotland today. It's my first time here. My mom, dad and also my brother's entire family came over from the US to meet up. It's been great. We're taking in all the best sites, Edinburgh Castle, other castles, the Scottish Highlands, Loch Ness, though I don't believe in any Loch Ness monster at all. I mean, come on, what a hoax. And we're seeing some other sites, though it didn't really interest the others, which I could understand. I visited the home where Adam Smith once resided, and I might put my video about that on our get rich education YouTube channel, so you could check that out over there. Of course, Adam Smith is considered the father of modern day economics for his work on supply versus demand and the GDP concept, the invisible hand, concept, much of that work conveyed in his magnum opus, The Wealth of Nations, published in 1776 as for the present day, let's meet this week's guest, including me, meeting him for the first time.     I'd like to welcome in a first time guest. He's the author of a widely acclaimed new book. It's named inflated money, debt and the American dream. It just released, and the book couldn't be more timely with the multitude of challenges related to inflation, many involving the housing market in his earlier books, he's been known, frankly, for just telling his readers the truth. He's worked at the Federal Reserve Bank of New York in politics and as an investment banker for more than 30 years. Today, he runs Whalen Global Advisors. You've seen him on CNBC in the Wall Street Journal, and now you're hearing him on GRE Welcome to the show. Chris Whalen.   Chris Whalen  5:43   Thank you, Keith, appreciate your invitation.    Keith Weinhold  5:45   Whalen is spelled W, H, A, l, e, n, if you're listening in the audio only, Hey, Chris, we're in a really interesting time in the economic cycle. We all know the Fed has a dual mandate, high employment and stable prices. What's interesting to me is, late last year, they cut rates by a full 1% and this is despite inflation being above target. Makes me wonder if they care more about high employment and they're rather willing to let inflation float higher. What are your thoughts?    Chris Whalen  6:18   I think historically, that's been the case. You know, the dual mandate Humphrey Hawkins, that drives the Fed's actions today was a largely socialist compromise between the Republicans and the Democrats. The Democrats wanted to guarantee everybody a job after World War Two, the legislation was really about soldiers and people who had served their country in many, you know, places around the world, for a long time, and then you would have the depression. So you had a whole generation or more of people that were looking for help when they came home. And that's what this was. But today, you know, there's another mandate, which is called keeping the treasury bond market open. We saw it was during COVID in 2020 President Trump got up, declared that people didn't have to pay their rent or their mortgages, and then didn't do anything. There was no follow up. At the time, folks in mortgage industry kind of looked at each other funny for about 60 days and said, What's going to happen? Because they have to advance principal, interest, taxes and insurance to protect the house. The first rule in mortgage finances protect the asset. But it all worked because the Fed dropped interest rates to zero and we had a boom. We refinanced two thirds of every mortgage in the United States, and that cash flow allowed the finance forbearance for millions of Americans. Now the unfortunate part, of course, was home prices went up double digits for six years. So why we had no affordability today? So, you know, it helped, but it certainly didn't help in some ways,   Keith Weinhold  7:48   mortgage loan forbearance back in the COVID era about five years ago, where you could basically just skip your mortgage payment and then they increase the overall duration of your loan period.   Chris Whalen  8:00   That's right. So you know, your government market, your conforming market, were falling. They also had various schemes, state forbearance for non agency loans. Nobody thought at all about the multifamily sector and the developers that didn't get paid for two years. And we're feeling the impact of that. Of course, today, that's probably the biggest pain point in US economy today is commercial real estate and multi family real estate, and neither one of them involves a consumer. So it gets no attention at all. You read about it in the specialty press, but that's about it.    Keith Weinhold  8:34   And by talking about multi family not affecting the consumer, you're just talking about who's on the owner side there?   Chris Whalen  8:40   precisely if all of the consumers have problems, you'd hear about it, and you do, especially in some of the blue states. I live in New York, so we have some of the more aggressive rent stabilization, rent control laws in the country. And they go back to World War Two. They go back almost a century,   Keith Weinhold  8:58   right? It's those people in the one to four unit space in residential real estate investing that really got the help there.    Chris Whalen  9:06   Well, at least, you know, the world didn't end. Imagine if all of those people had gone to foreclosure. The industry wouldn't have done that. Of course, they would have thrown up their hands and cried for help. But the point is, they made it work. But the cost of making it work that zero interest rate regime that the Fed put in place is still being felt today. If you look at banks which typically have prime large mortgages on their books, the loss given default is zero. Home prices are so high that if somebody actually goes to foreclosure, they sell the house, they pay off the loan easily, and there's usually a large residual left, which would go to the homeowner. So today, you know, if somebody gets in trouble, we do a short sale, we do a deed in lieu, and off they go. And that's why the stats don't show you the pain that many American families are feeling today, because about 60% of all payoffs of one to four family mortgages are people who. Are exiting the market, they're not going to buy another house. So what that means is that the cost of home ownership, or whatever other factors are involved, has made them make the decision not to go to another home mortgage.    Keith Weinhold  10:13   Yes, we have this historically low affordability that's beginning to be reflected in the home ownership rate. It's trended down from about 66 to 65% recently, we continue to be in this environment here, Chris in the one to four unit space, where those existing homeowners are in really good shape. They have record high equity levels of over 300k A lot of them have their home paid off. About 40% of American homeowners own their home free and clear, and of the remainder, those borrowers, 82% still have a mortgage rate of under 5% and of course, that principal and interest payment stays fixed. So even if there's economic hardship, it's pretty easy for people to make their payments and stay in their homes.   Chris Whalen  11:02   Well, it certainly is for most of the marketplace. If you look at the bottom 20% the FHA market, also the VA market, there's a little more stress there. There's still an awful lot of people who are in various types of forbearance in that market. That's going to end in October. So the Trump administration is pushing most of the rules back to pre COVID approaches for delinquency, for example, what we call the waterfall. And what that basically means is that if an FHA borrower gets in trouble, they'll have one shot at a modification where they lower the loan cost and stick part of the loan out the back to be paid off when the house is sold. If that doesn't take, if they don't re perform, then they're going to go to a foreclosure. We just ended another program for veterans. You know, they had three weeks notice, so now you're going to see a lot of veterans going to foreclosure. Unfortunately.   Keith Weinhold  11:56   yes, this administration is basically making sure that people are responsible or resume their payments. We've seen that student loan repayments needing to resume as well. Most foreclosure rate types are still pretty low, but yes, FHA foreclosure rates are higher than those for conventional loans.    Chris Whalen  12:15   Yeah, the interesting thing is, the veterans delinquency rate is half of the FHA rate, and even though people in uniform don't make a lot of money, they pay their bills. Yeah, it's quite striking.   Keith Weinhold  12:25   Why don't you talk to us more about areas where you see distress in the housing market before we talk about more inflation? Chris, the   Chris Whalen  12:34   key areas of housing stress at the moment are commercial real estate that has become underutilized. COVID drove a lot of this, but also the fact that industries could change their work practices. It could have people work from home. Look at housing. We sent everybody home in 2020 while we increased headcount by a third to address a surge in lending volume. It was insane. I gotta tell you, we were hiring people that we didn't see for months that changed the business model assumptions for a lot of industries. A lot of them moved out of blue states and went down to Florida and Texas. In the mortgage industry particularly, and so we have a lot of older real estate particularly, that is suffering. It has dropped in terms of appraised values. You also have higher interest rates and higher cap rates, that is to say the assumption of returns on the part of investors. So that hurdle has made a lot of these properties impaired, essentially. And then the other subclass is older multifamily properties. Think about those beautiful old apartments in the middle block up on the east side or the west side of Manhattan. They're not big enough to be viable, and so they have become this kind of subprime asset class, much in the way if you recall the signature bank failure, they typically bank these sorts of real estate properties, and now there's nobody that wants them. I think you're going to see some very specific pain coming out of HUD, and also Fannie Mae and Freddie Mac because they bank some of these smaller properties that really aren't bankable by commercial banks. That's what it comes down to. If you're going to read about this and hear about it a lot in the commercial market over next several years. And again, you know, the losses on bank owned multifamily properties today are averaging 100% so that means that there are a lot that have more expenses than simply losing the full loan amount. And you know, if you want to have a bank loan, they're not taking these properties. They don't want them, right? So the bank, REO rate, if you look at the data from the FDIC, is zero. And what that tells you is that they can't sell the properties they don't want them, because if they take ownership, the city's not going to let them abandon the property. They'll have to keep it and maintain it. It's a tough situation. This is. Has evolved over the last 20 years or so, because consumer incomes have been kind of stagnant in real terms. But the cost of operating a property in New York City is not going down. It's going up quite a lot, and the legislation we've seen from Albany doesn't allow owners to recapture expenses, doesn't allow them to renovate apartments. So if I have a rent stabilized apartment, I'll use a real example, in a beautiful building on Central Park South right, to renovate a unit that's been occupied for 20 years, new kitchen, new bathroom, sir, everything services. That's $150,000 so if I'm the owner and I can't recapture that cost. What do I do? I lock the door, I gut the apartment, and I lock the door, and I hope that the laws will change in the future, because I can't rent it, my insurance underwriter will not allow me to rent out an apartment that's not brought up to code. That's New York law, but the folks in Albany don't care about that. We have some really unreasonable people in positions of authority, unfortunately, in some of these states, and you talk to them about these issues, and they don't care. They just pander to consumers, regardless of whether or not it makes sense or not. And that's just the way it is.   Keith Weinhold  16:15   Those evil landlords, quote, unquote, most right evil. They're just mom and pop investors that are trying to beat inflation with real assets, and they have real expenses. Rent Stabilization basically just being a genteel term for rent control, which gives no one an incentive to improve a property for sure   Chris Whalen  16:35   and it reduces the availability of housing ultimately, because nobody builds. You see that in New York right now the home market is pretty tight, up to the conforming limit for Fannie Mae and Freddie Mac so you figure a million, 1,000,002 here in New York. But above that, it's quieted down quite a lot. There's compression in some of the higher end homes. And you know, if you go down south, you see a different problem, which is over building. They didn't want to build here, so they went down to the Carolinas and Texas and Florida. There's a huge amount of both multi family condo type developments and single family homes too. But above that average price level way above half a million dollars.   Keith Weinhold  17:15   Sure, it's made this dynamic where things have been flip flopped in the Northeast and Midwest, where the populations aren't growing very fast, those markets have been appreciating more than those in the high growth southeast, all coming back to supply. They're not bringing on enough new supply in the Northeast and Midwest, Chris has just laid out a few reasons for that, due to this high regulation. And then in the southeast, a high growth area, even though that's where people are moving, we're not getting much appreciation there, because you're able to build and that supply is able to keep up with demand. Well, Chris and I are going to talk more about the housing market and about inflation. When we come back, you're listening to get rich education. Our guest is Chris Whelan, the author of a great new book. I'm your host. Keith Weinhold.   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Caeli Ridge personally. While it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    You know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. 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We're talking with the author of a great new book, Chris Whelan, it's called inflated money, debt and the American dream. Chris, I see the residential housing market and their price points as being resilient. I'm kind of looking around and seeing if you have any places where you think that there are any cracks in that? I've heard you talk elsewhere about a housing price correction. Were you talking in the one to four unit space? And how do you think that could happen?   Chris Whalen  20:31   I didn't come up with that idea. I did a biography of my good friend Stan middleman, who's the founder of freedom mortgage. It's a real rags to riches story of a successful entrepreneur, a great guy, by the way, is a beloved man in the mortgage industry. And so what he believes is that cycles are about a decade in terms of human behavior. And he says misery on the eights, which is kind of a cute way of saying it. And what Stan is basically saying is you eventually see so much price appreciation that affordability goes to zero. You run out of buyers, is another way to put it. And then once the Fed gooses it, he thinks we see an interest rate decline this year next year, perhaps you get rates to run a little bit. You get volumes to jump the way they did last summer. You remember, in the third quarter, we had great volumes in the mortgage industry, carried everybody through to the end of the year, and then after that, he says, we get a price correction, maybe back down to 2020 21 levels. So we're talking about a 20% price correction, and we're talking about the loans that have been made in the last few years being underwater. That's something we haven't talked about in a long time. We haven't talked about that since 2008 so I think that Americans inevitably have to see some kind of a correction. What the Fed did was wrong, what they did was excessive. I write about that in the end of my book, but unfortunately, the result is home prices that have galloped along, and eventually you got to reset it. Part of its supply coming online. Part of it is simply, like, I say, you run out of buyers, and when it's simply that purchase buyer who is either all cash or happens to have the deposit, and that's all you have. And there's no flexibility for people that want to get into the market. You know, that's tough. I could recall Paul Volcker years ago, we were talking about that in the book too. He ratcheted down home prices. He raised interest rates so much that home prices went down, and a lot of builders went out of business who had had a lot of snls go out of business, and, you know, the previous decade. So that was a tough time. We didn't even start to do that this time around, because they were afraid to the Fed is worried about keeping the Treasury market open, so they are afraid of deflation, which unfortunately means you don't get those opportunities to get into the market. I remember my parents, when I was very young, they would buy busted homes in Washington, DC. It was a great way to make a lot of money, and in five years, the House would double. That's the kind of market Washington was   Keith Weinhold  23:05   in my opinion, I don't see how there could be any substantial residential home price correction. Historically that happens when there's a wide swath of homeowners that get into financial trouble, like I was talking about earlier, the homeowner is in great financial shape today. In fact, since World War Two, we've only seen home prices drop substantially during one period. That was that period around 2008 and that's when we had conditions that are opposite of what they are today. We had loans underwritten with liar loans. We had an over supply of homes, like I was saying earlier, inflation can't touch one's principal and interest payment. We're still under supplied with homes. Most experts don't think we'll get that into balance for at least five years. I really don't see how home prices could fall substantially. I also don't see how they could rise substantially, like, say, 10% due to that low affordability, but I expect continued stability in prices?    Chris Whalen  24:02   Well, we'll see. I'm not as sanguine about that, because a lot of people feel house rich on paper, but when the bottom of the stack is really hurting as it is now, FHA delinquency rates really are in probably the mid teens. You don't see that yet in the middle with the 727, 40 FICO type borrowers. But I think over time you could, and if, again, it depends on the economy and some other factors, but I'll tell you right now, you're already seeing a correction in the hyad the bottom half, no. And there's a supply problem here, which I agree with you on. It's going to keep those home price is pretty firm. And even where I am in New York, for God's sake, Keith, there's no construction here. So we just had a house across the street from me go from million one. I live in Sleepy, hollow New York, and you know, this is typically around the conforming limit for prices for most of these homes, and it went for 150 $1,000 over the ask, it was crazy. Went in two weeks now, during COVID, we saw this sort of behavior, and we thought, Well, okay, you had zero interest rates. I got a 3% mortgage, by the way, awesome. But here we have a situation when markets cooled down a lot, and yet the lack of availability is really the driver. So in that sense, I agree with you, but I do think the high end could correct rather substantially.   Keith Weinhold  25:24    And of course, in multi family apartments, that's different. That's where values in a lot of markets have been depressed by more than 30% they were subject to those interest rates being jacked up, and we're still going to see balloon loans mature and people default on those in apartments. The pain is not over with air, but at some point that's going to bottom out, and that'll be a buyer opportunity in apartments.   Chris Whalen  25:47    Well, the thing is, new stuff is going fine. It's what happens is when the new gets built, the older assets down the road get discounted. That's really what's going on. People love new as you know, these kids love a new house, as opposed to an older house.   Keith Weinhold  26:02   Yes, that'll help reset the prices in the new market when you can compare those to what existing values are. Well, Chris, talk to us more about your new book and what the overall thesis of the book is in these critical times.    Chris Whalen  26:16   Inflated is meant to help people understand how our country went from agrarian, sleepy, isolationist America in the 1900s to being the dominant economy in the world and the provider of global money. We talk about how we got here. We talk about Abraham Lincoln and Franklin Roosevelt and many other characters. Obviously, we had to talk about Andrew Jackson, who is now embodied in our president, Donald Trump. We try and frame how this is all going to evolve in the future. And my thesis is basically the global currency role is something you get during or after a war. We took the baton from Great Britain after the First World War, and then by the end of World War Two, everybody in the world was broke, except for us. It was last man standing. And so rebuilt the world. We let everybody take advantage of us, and now President, who's saying, Nope, we got to change this. I think if it wasn't Trump, it would be somebody else. To be honest with you, Americans are tired of high inflation. They're tired of some of the other costs that come along with being the global reserve currency, so we try and frame all of this in an understandable way. And I particularly talk about housing during COVID and how that all really, I think, changed things for many Americans. Home ownership has been one of the basic ways we create wealth in this country, and the fact that we didn't have an opportunity for people to get in cheap with a fixer upper or a house that was foreclosed. You know, I think it's unfortunate, but the system just can't tolerate it. We've gone in 2008 and then in 2020 through two very significant crises when the government bond market stopped working. So we talk about that as well.   Keith Weinhold  28:03   I don't predict interest rates. I think it is really difficult to do you mentioned earlier about the prospect for lower interest rates coming. Everyone wants to know about coming. What's your outlook for the future of interest rates and inflation for just say the next five years? Chris,    Chris Whalen  28:19   I think interest rates will drop. That is to say what the Fed controls, which is short term interest rates. In the next year or so, we'll have a little bit of a boom as a result. But I think the concern about the federal deficit and US debt, the volatility caused by President Trump's trade strategy, and just general I think a sense of uncertainty among investors is going to keep long term interest rates higher than we saw during COVID And really the whole period since 2008 the Fed bought a lot of duration and took it out of the market, so they kept rates low. They're not going to do that as much in the future. I don't think they'll buy mortgage securities again, they are very chastened by that experience. So if they don't buy mortgage backed securities, and if the banks don't become more aggressive buyers, and I don't think they will, then you know, the marginal demand that would drive mortgage rates down is just not going to be there. Banks have been holding fewer and fewer mortgages and mortgage backed securities on their books for 35 years. If you look at the growth in the industry, the dollar amount of one to four family mortgages hasn't changed very much. So when you look at it that way, it's like, you know what's wrong? Two things. They want to only make mortgages to affluent households. They want to avoid headline risk and litigation and fines and all of that. And I think also, too some of the Basel capital rules for banks discourage them from holding mortgages and mortgage servicing rights, which is an area I work in quite a lot.   Keith Weinhold  29:55   It seems to me, like increasingly, the powers. It be the United States government just won't let the homeowner fail. They want to do so much to promote home ownership over the long term, we see relative ease with getting a mortgage. We've seen lower down payment requirements during other times, including COVID. We see the government jump in with things like mortgage loan forbearance and an eviction moratorium for renters. They just don't want to let people lose their homes. It just seems like there's more propensity to give homeowners a greater safety net than ever. Well,   Chris Whalen  30:29   we've turned it into an entitlement. Yeah, and Trump is changing that at the federal level. The states, the blue states, are going to continue to play that game at the state level, and they can even have state moratoria. But what's going to happen, and I think sooner rather than later, is you may see the federal agencies start to tier the states in terms of servicing fees, simply to reflect the cost. It takes over 1400 days to do a foreclosure in New York. Gosh, that is a big problem. You can lose the lien in New York now, it takes so long. So I think that, you know, from an investor perspective, from a developer perspective, it's not an attractive venue. That's just the reality. Then you even California is as progressive and as activists as it is, you can still get a foreclosure done very quickly using the trustees. It's just a totally different situation. If there are complications, you can get into a judicial foreclosure, which will take longer. But still, California works. New York is deliberately dysfunctional. We have people in the state legislature who are in foreclosure themselves, and they keep passing these laws. So, you know, I think at the federal level, you're going to see it roll back to pre COVID, but I will say that forbearance, both with respect to the agency and conventional market and private loans, is kind of the rule. Now we work with the borrower much more than we would in the past. It's it is really night and day.   Keith Weinhold  32:00   Chris, your new book has gotten a lot of acclaim. Let us know anything else that we should know about this book, and then if we can get it in all the usual places   Chris Whalen  32:10   you can buy it at Barnes and Noble Amazon. I have a page on my website, RC, waylon.com, with all the relevant links. But the online is the best way to get it. Most of the sales are on Kindle anyway, but well over 90% are online, so we don't have to worry about physical books. I think we'll be doing some book signings in the New York area. So we'll definitely let you know about that.   Keith Weinhold  32:33   One last thought is that the rate of inflation means more to a real estate investor than it does to a layperson, maybe five times as much or more, because when we borrow for an income property, our asset floats up with inflation. That part's really just a hedge on inflation. Our debt gets debased by inflation, which is really a mechanism for profiting from inflation over time. And then, thirdly, our cash flow tends to go up even faster than the rate of inflation, since our principal and interest stays fixed, so real estate investors can often be the beneficiary of inflation. It's sort of strange to go root for a force like inflation that can impoverish so many people. But what are your thoughts with respect to real estate investors and inflation?   Chris Whalen  33:19   Well, you know, it's funny when Jerome Powell at the Fed says that they have a 2% inflation target, my response is, well, we better have at least 2% inflation if we're going to make commercial real estate work. Commercial real estate went up for 75 years after World War Two. I can remember when I was in the rating business at Crowell bond ratings going to see some of the banks here in New York, their multifamily books had only seen the equity underneath the asset go up and up and up. In other words, the land ended up being 90% of the value, you know, 1520, years after the purchase and the improvements were almost worthless simply because the land appreciated so much. Now that has changed since COVID. A lot of commercial real estate, particularly has gotten under a bit of a cloud. You've seen falling prices. However, in parts of the country that are growing where you have a positive political environment, positive economic environment, you're still seeing fantastic growth in both commercial and multifamily markets. So I think being very careful and patient in doing your homework in terms of picking venues is more important now than ever before. You know, I'll give you an example. Down in Florida, we're building new malls every day. The mall down the road that's 15 years old. There's nothing wrong with it, but it's 15 years old. And so the price discounts that you're seeing for existing assets are rather striking. Same thing down in the Carolinas, down in, you know, Atlanta, and going down to the Texas growth spectacle, I'm always astounded by what's going on in Texas. They built so much in that whole area around South Lake, out by the airport. It, they're going to basically subsume used it. So, you know, in those markets, you have great opportunities, but you also have over building. And so we're going to see some cycles where they're going to be deals out there for projects that maybe were a little too ambitious have to get restructured, and astute investors can come in and do very well on that   Keith Weinhold  35:20   like we often say around here, in real estate investing, the market is typically even more important than the property itself. The name of Chris's new book, again, is inflated money, debt and the American dream. It has an awful lot of intersections with real estate investors and how they can play inflation. Uh, Chris has been a terrific conversation about the real estate market and larger market forces. It's been great having you here on the show.   Chris Whalen  35:47   Thank you, Keith. Let's do it again.   Keith Weinhold  35:49   Yeah, some good insights from Chris, a smart guy. And gosh, what a really sad state for rent stabilized apartments in New York City, where landlords of some of those properties, they would have to spend sometimes hundreds of 1000s of dollars in order to bring them up to code, but then they couldn't charge enough rent to offset those expenses due to government intervention and price fixing, so landlords just lock up the property vacant. And this sort of harkens back to when we were talking about some of this last year, when we had documentary film maker jen siderova on the show with her film called shopification, and it was about how rent control slowly makes neighborhoods fall into disrepair. All right, Chris and I had some difference of opinion there on the prospects for a home price correction. I think I made most of my points. He did, though, talk about running out of home buyers. If I have him back, maybe I'll pick up right there. More buyers are baked into the demographics, like I think I shared with you one time the US had its highest ever birth rate years between 1990 and 2010 more than 4 million births per year for a lot of those years. Just to review this with you, you might remember that 2007 was the US is peak birth year. Add 38 years to that for the average first time homebuyer age, and that housing demand won't even peak until 2045 and it will continue to stay high for a few years after that. So that's where the demand is just going to keep coming from, just piling on. And when I say that loan conditions have eased for American homeowners, like I did there during the interview, of course, what I'm talking about is the long term. I mean, lending conditions got more rigid after 2008 and with the adoption of Dodd Frank. What I'm talking about is, before the Great Depression, it was most common to have to make 50% to 60% down payments on property, and you had to repay the entire note in five to 10 years. I mean, can you imagine how that would hurt affordability today and then later, by 1950, 15, year loans were the common one. I mean, even that would impair affordability today. Today, 30 year loans are the common one, and you can put as little as 3% down on a primary residence. A lot of people don't know that either. It does not take 20% on a primary residence. So that's what I mean about the relative ease of credit flow today. Now, Chris has knowledge about other parts of the real estate market that I don't for his work inside DC and in other places like the foreclosure market. We talked about some of that right after the interview. For example, He was letting acronyms like NPL roll off his tongue, and I had to ask him what that meant. That's a non performing loan. Check out Chris's new book. Again, it's called inflated money debt in the American dream. And again, his website is RCwhalen.com and Chris also has a great sense of history, which we didn't get into, longtime real estate guys radio show co host Russell gray and I will discuss monetary history here on the show soon. Like I said, I'm coming to you from Edinburgh, Scotland this week, even if you don't see great sites, you know, it's interesting just walking the historic streets here, if you're an American that's visited here before, you surely know what I mean. And I told you that I'd let you know, the current real estate transaction I'm involved in is paying $650 a night for the hotel here in Edinburgh. Yes, that's a lot. I've actually paid less for fancier places in Dubai, but this hotel here is on the Royal Mile. Of course, I could have found less expensive accommodations elsewhere.    Speaking of less expensive, here's an announcement. And we have new investment property providers at GRE marketplace, two of them, the markets are both in Oklahoma, and they are Oklahoma City and Tulsa, Oklahoma as a state, is known for landlord friendly eviction processes and legal systems, kind of the opposite of New York. So this makes your property management more predictable. Now, when we look at this city, OKC has the lowest priced new single family rentals. I can think of it under 160k Yes, that really puts the exclamation point on inexpensive and favorable rent to price ratios often exceeding 1% which is obviously attractive for cash flow, meaning a 150k single family rental could yield over $1,500 in rent. There's high rental demand in certain sub markets. We have scouted out those exact places for you in the OKC metro, like Edmond Moore spelled M, O, O, R, E, and Midwest City, all supporting consistent rent income, though it was once really oil dependent, OKC has diversified economically, reducing your risk tied to commodity cycles and ok sees local economy that's supported by industries including aerospace, energy, health care and logistics. Then there's Tulsa. Tulsa has the highest cash flowing new build duplexes, perhaps anywhere in the US that I know about. On the single family rental side, a lot of Tulsa investors can find properties under 150k with monthly rents again exceeding 1% of the purchase price, clearly ideal. So yes, both Oklahoma City and Tulsa are now on GRE marketplace. You can either visit the pages and see them there, or one of our qualified, experienced GRE investment coaches. Meet with them. They can help guide you to the very best deals and show you the specific property addresses available right at this time for whatever best meets your needs. If you're looking to either start or expand to another market and you seek cash flow, you really need to consider Oklahoma. Yes, it is free to have a strategy session with an investment coach, whether that's for Oklahoma or other investor advantage regions. I often like to leave you with something actionable. You can start at GREinvestment coach.com start book a meeting for a free strategy session remotely. That's at GREinvestment coach.com, until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Dolf Deroos  42:51   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Advice, opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC exclusively.   Keith Weinhold  43:14   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters, and I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you'll also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre to 66866. While it's on your mind, take a moment to do it right now. Text, gre to 66866.   The preceding program was brought to you by your home for wealth, building, getricheducation.com.

Serial entrepreneur Dom Williams sits down with the Blue-Collar Twins to reveal how a kid running county-wide candy routes now leads a 200-employee cleaning company, owns drive-thru “drink barns,” flips HUD rentals, and is launching a lounge—while coaching other service-business owners past the six- and seven-figure ceiling. You'll hear: Early Hustle → Corporate Wake-Up – the Wall Street layoff that pushed Dom full time and helped CNC Cleaning hit $1 M in six months.Play Business for Life – treating strategy like a game and using daily “pulse meetings” to keep the scorecard honest.Systems over Self – Sears-inspired SOPs that let a 200-person team run without him on site.Numbers that Matter – cash-flow detective work, margin targets (25 % residential; 15 % commercial), and the bank-balance myth.Diversifying the Right Way – acquiring Lexi's Drink Barn, scaling HUD duplexes, and threading Indiana's liquor-law maze to open Demure Lounge.Coaching Corner – the common blind spots for $500 k–$1 M service firms and Dom's framework for moving owners from operator to architect. Stick around for a quick CTA to Paul Giannamore's Private-Equity Masterclass playlist—and start “playing business” on a bigger board. From PE Teachers to Pest Control Owners: The Julio Twins Share Their POTOMAC Experience https://youtu.be/HAx9noqsqTo https://www.linkedin.com/in/paulgiannamore www.potomaccompany.com https://bluecollartwins.com Produced by: www.verbell.ltd Timestamps (podcast.co-ready) 00:00 – Cold-open: Dom on systems that let owners step away 00:35 – Jason & Jeremy introduce Dom, the serial entrepreneur 01:40 – Fast rundown of CNC Cleaning, Lexi's Drink Barn, real estate & Demure Lounge 02:30 – Candy-bar syndicate at 12: first taste of leverage 03:50 – High-school expansion: five schools selling for him 05:00 – Dropping a clothing line; choosing cleaning for low entry & recurring revenue 06:50 – Year-one grind: two day jobs + night QC on homes 08:50 – Cash-flow crises and selling his way out 11:00 – Corporate layoff → full-time leap; $1 M revenue in six months 14:00 – Chrysler-300 moment: “I'll never work for anyone again” 15:30 – SOPs inspired by Sears, Avis & Verizon 17:30 – Power of industry conferences and peer networks 18:50 – Manifestation & mindset: believing before scaling 19:50 – Coaching clients: testing belief, fixing data first 20:25 – Reading P&Ls correctly; COGS-to-revenue benchmarks 21:30 – Buying a duplex (the “dupy”) and house-hacking advice 24:00 – HUD rentals, vetting tenants, and guaranteed checks 25:30 – Cleaning margins: 25 % residential vs 15 % commercial 26:50 – Acquiring Lexi's Drink Barn; lifting average ticket size 28:10 – Launching Demure Lounge under Indiana's beer-and-wine rules 29:50 – Economic headwinds: residential leads dip, commercial steady 30:30 – Monday pulse meetings: KPIs, accountability, real-time fixes 31:20 – Future vision: build, exit, repeat—never stop “playing business” 32:00 – New coaching program: from in-the-business to on-the-business 32:50 – Contact Dom at domwilliams.com; socials 33:20 – Outro & Masterclass CTA

Lumber prices surged 23% year-over-year in April, reviving cost pressures that rattled builders earlier in the pandemic. The spike, driven by sawmill closures and fears of higher tariffs on Canadian imports, is squeezing margins for major developers like Lennar, D.R. Horton, and Toll Brothers. The U.S. currently imposes a 14.5% duty on Canadian softwood lumber—accounting for 85% of American imports—but that rate could more than double following a regulatory review expected by August. The volatility comes as HUD Secretary Scott Turner outlines a bold deregulation agenda. Speaking at the T3 Leadership Summit, Turner pledged to ease red tape, open underused federal lands for construction, and eliminate the Affirmatively Furthering Fair Housing rule. Turner says the goal is to unlock new supply by empowering local governments and encouraging self-sufficiency. Meanwhile, HUD faces proposed budget cuts of $33.6 billion, raising questions about how effectively the agency can stimulate new building while federal funding shrinks. Together, rising material costs and shifting federal policy are setting the stage for a turbulent second half of 2025 in the housing sector. Subscribe to the BiggerPockets Channel for the best real estate investing education online! Become a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Owen Li is a first-generation immigrant who came to the U.S. with $6,000 in debt and earned a Ph.D. from Harvard. After 12 years in a W-2 role, he started investing in real estate with a $32K house and now manages $90 million in assets, including 600+ multifamily units, 900+ self-storage units, and 205 acres of land. He joined Rod's Warrior Group in November 2024 and closed a 133-unit deal in Hattiesburg, MS the following month for $9.2 million, assuming a $5.75 million HUD loan at 2.45% and raising $4.45 million in equity. Based in Chicago with his wife and three kids, real estate has given his family financial freedom and educational choices.   Here's some of the topics we covered:   From Immigrant Struggles to Earning a Harvard PhD Why Multifamily Beats Burnout from Labor-Intensive Startups How Buying Foreclosures and Fourplexes Built Owen's Foundation Passive Investing vs. Going All In on Multifamily Investing in Other People's Projects Vs. Multifamily Why Scaling in Multifamily Is a Total Game-Changer Build Trust Fast by Building a Proven Track Record Raising 4.45 Million Dollars With His Team Should You Still Be Buying Multifamily Right Now? How Joining the Warrior Group Fast-Tracks Growth   If you'd like to apply to the warrior program and do deals with other rockstars in this business: Text crush to 72345 and we'll be speaking soon.  

In part two of Red Eye Radio with Gary McNamara and Eric Harley, making time for the "Big Beautiful Bill" with audio from Ron Johnson and the HUD director on how to make it beautiful. Also the impeachment attempt, audio from the President on returning home from his first trip abroad in his second term and seeing his new Grandchild, audio from SCOTUS on birthright citizenship and much more. For more talk on the issues that matter to you, listen on radio stations across America Monday-Friday 12am-5am CT (1am-6am ET and 10pm-3am PT), download the RED EYE RADIO SHOW app, asking your smart speaker, or listening at RedEyeRadioShow.com. Learn more about your ad choices. Visit podcastchoices.com/adchoices