Podcasts about leases

H.W. Brands describes how, in early 1941, Roosevelt introduced the Lend-Lease Act (HR 1776), a bill that ironically shared its name with the year of American independence but intended to "marry America's future to Britain's future." Because Britain was running out of cash, Roosevelt argued that the U.S. should lend or lease weaponry to ensure they didn't go down for lack of funds. He was aided by a sentimental shift in American public opinion, driven by Edward R. Murrow's broadcasts which portrayed the "stubborn British" as heroic underdogs fighting for democracy. Simultaneously, a covert information war was being waged by William Stephenson, the director of British propaganda in America, who worked with William "Wild Bill" Donovan to manipulate U.S. opinion with the administration's blessing. While Roosevelt publicly complained about German propaganda, his own administration used unacknowledged stories and rumors to move Americans toward war. Lindbergh called out this hypocrisy, arguing that aiding Churchill—an "unreconstructed" imperialist—was not a defense of democracy but a defense of British rule in places like India. Roosevelt even utilized a forged map, allegedly showing a German plan to reorganize Latin America and replace the Bible with Mein Kampf, to stir fear. Lindbergh's diary reveals his deep intuition that every step away from neutrality was a calculated move toward war, regardless of the president's stated desire for peace. (5)1941

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at:⁠ OLDPodcast.com⁠. Episode 2084: Dr. James M. Dahle explains why owning a vehicle is usually the better long-term financial decision than leasing, even when lease payments are tax-deductible. He breaks down depreciation, lease-back arrangements, and business-use deductions, showing why tax benefits rarely outweigh the higher costs of leasing while offering practical guidance for high-income professionals seeking to minimize unnecessary expenses. Read along with the original article(s) here:⁠ https://www.whitecoatinvestor.com/should-your-business-lease-a-car/⁠ Quotes to ponder: "Renting can obviously work out better in the short term (there's a reason we all rent a car when we go to Hawaii), but the longer you have and use the car, the better owning works out." "It seems exotic. It seems like a cool thing to drop at a party as a genius idea. But in the end, it might not be all that. But looking smart can be better than being smart." "If you must spend the money, then try to make the spending deductible. But don't spend extra (on a lease or car loan interest) just because it is deductible." Episode references: Internal Revenue Service (IRS) – Topic No. 510 Business Use of Car:⁠ https://www.irs.gov/taxtopics/tc510⁠ Dave Ramsey:⁠ https://www.ramseysolutions.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

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Welcome to the CanadianSME Small Business Podcast, hosted by Kripa Anand. Today, we explore how flexibility, lean operations, and virtual infrastructure are redefining what it means to build a modern business in 2026. Joining us is Lucas Seyhun, founder and CEO of The Farm Soho. Lucas shares how coworking, virtual operations, and adaptable workspaces are helping entrepreneurs scale without the burden of traditional overhead. Key Highlights The Evolution of Workspace: Lucas explains how coworking has transformed in the modern economy. Scaling with Lean Infrastructure: Lucas shares how startups can grow without expensive office commitments. The Rise of Virtual Operations: Lucas explains how virtual mailbox services support remote businesses. Lessons from Entrepreneurship: Lucas highlights common startup mistakes and key leadership lessons. The Future of Hybrid Work: Lucas shares how The Farm Soho is adapting to changing business needs. Special Thanks to Our Partners: UPS: https://solutions.ups.com/ca-beunstoppable.html?WT.mc_id=BUSMEWA ADP Canada: https://www.adp.ca/en.aspx For more expert insights, visit www.canadiansme.ca and subscribe to the CanadianSME Small Business Magazine. Stay innovative, stay informed, and thrive in the digital age! To learn more about how we are supporting the ecosystem, please visit the CanadianSME Small Business Foundation at smbfoundation.ca. Disclaimer: The information shared in this podcast is for general informational purposes only and should not be considered as direct financial or business advice. Always consult with a qualified professional for advice specific to your situation.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2083: Dr. James M. Dahle breaks down a commonly misunderstood tax strategy and explains why having your business lease or own your vehicle is often less advantageous than many professionals assume. He clarifies how vehicle deductions actually work, highlights common audit risks, and offers practical guidance for simplifying tax reporting while staying compliant. Read along with the original article(s) here: https://www.whitecoatinvestor.com/should-your-business-lease-a-car/ Quotes to ponder: "Any expense in your life that can be taken as a business expense should be taken as a business expense." "The most important thing for you to realize here is that ONLY business mileage is deductible. Personal miles are NOT deductible." "My general recommendation is to own the car personally and just take a business mileage deduction (or, for an S Corp, reimburse yourself) for those business miles so long as your insurance will cover that business use." Episode references: Uber: https://www.uber.com Turo: https://turo.com USAA: https://www.usaa.com Learn more about your ad choices. Visit megaphone.fm/adchoices

The Rundown: The World Cup, NBA Finals, Freedom 250, College World Series; Anthony Sain on the Duncan Williams Quotes on the Grizzlies' Lease!

We look at lease agreements with Walgreens stores in Milwaukee. We learn about Milwaukee's last elected socialist mayor Frank Zeidler. Plus, we tell you about Brillantes, a soccer club for young Latinas.

What Will We Be Talking About on Monday? News on the Grizzlies' Lease at the FedEx Forum, Draft/Trade Intel Around the NBA Finals, Will We See Another Dumbest Moment from the Spurs?; Lawrence Dockery on why Tyler Adams isn't the USMNT Captain? USA Kicks Off Their World Cup Campaign Tonight!

Matt Becker, founder of Gym Lawyers and former 11-year CrossFit affiliate owner, joins Mateo to break down the legal gaps most gym owners don't know they have. They get into why compliance directly affects your gym's value, what buyers look for during due diligence, how market value opinions work, and the roll-up trend quietly reshaping the boutique fitness market.P.S. If you like the show, then you'll love the Gym World newsletter. Every Friday, John Franklin breaks down the possibilities of making money in the fitness industry. Subscribe here, so you don't miss out.

Send us Fan MailFor this episode, Sarah Canning and Deenie Lee sit down with Debra Yudolph, CEO of SAY Property Consultants and Esme Webb, Director of hereSAY to unpack the UK's first PBSA Mystery Shopping Benchmark report and to discuss why measuring the lead to lease journey is the most powerful metric operators and investors can unleash.This is a must-listen conversation for anyone working in PBSA operations, marketing, leasing, customer experience or investment as we explore;- What students really experience in the leasing journey.- Where teams shine on friendliness and knowledge.- Where bookings are being lost.- How small behaviours shifts can create big conversion gain- How findings from the mystery shopping service can inform and improve sales and marketing training.Download the full report.The hereSAY PBSA Mystery Shopping Service is in partnership with The Property Marketing Strategists Find out more about the PBSA Mystery Shopping Service by filling in this form.The views and opinions expressed in this podcast are those of the hosts and guests alone and do not necessarily reflect the views of their employers, organisations, clients, or partners. This podcast is for general discussion and informational purposes only. Nothing said should be taken as professional, legal, financial, or investment advice. While we aim to be accurate, we make no guarantees and accept no liability for decisions made based on the content of this podcast. 

AI companies are scooping up office space in Manhattan at a pace that is reminiscent of the dot-com boom in the late 90s. Wall Street Journal reporter Isabelle Bousquette talks about what the office leases mean for the job market, plus weighs in on other related issues.   Photo: Large group of programmers working on computers in the office. Focus is on three women from the back. Credit: skynesher   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

"Virtual Reali-Tea" co-hosts Danny Murphy and Evan Real are recapping season one, episode four of "In The City." Amanda Batula reveals to Lindsay Hubbard that she signed a one-year lease in a new building without Kyle Cooke. Kenny Martin's openness about his relationship with Whitney Fransway backfires when some castmates begin using the term "murky" to describe it. "In The City" airs Tuesdays at 9 p.m. ET on Bravo and is available to stream the next day on Peacock. Follow us on Instagram! Sign up for our newsletter! Check us out on YouTube! Head to our show page for more tea! Learn more about your ad choices. Visit megaphone.fm/adchoices

Saturday marks the final game of the 2026 season for the United Football League. The UFL’s United Bowl III kicks off at 2PM CDT Saturday on ABC. Spring professional football’s championship game will take place in Washington, DC at Audi Stadium.  The hometown DC Defenders (7-4) defend their 2025 UFL title against the upstart expansion Louisville Kings (also 7-4). Abundant sunshine and a steamy 90 degrees will greet the players and fans at Saturday’s championship game to end the UFL’s third season. There will likely be a good crowd of more than 15,000 in the stands (the stadium holds 20,000) and a television audience of more than 1 million watching on ABC. At some point soon, the UFL owners will meet to review the season and make decisions about the future. Let’s give a preview of what I think that meeting will entail. A review of the 2026 UFL season – the OK, the “Meh”, and the downright ugly The third year for any new business should show its owners that the venture is making positive strides.  If the business is not already profitable, the annual losses should be getting smaller by the year as the business gains favor with the buying public. For the UFL, those primary measures are home team attendance (and revenues) and national television ratings. Let’s start with the Ugly. Home attendance dropped again in 2026 Each of the eight UFL teams played five home games in the 10-game regular season. The St. Louis Battlehawks (playing in a 60,000 domed football stadium) drew more than 23,000 per game to lead the UFL in home attendance once again in 2026.  Despite the positive attendance, the cost for the lease at the Dome at America’s Center (formerly known as the Edward Jones Dome) in St. Louis is also likely the highest paid by the UFL. The expansion Louisville Kings came in second with more than 11,000 fans per home opener. Another expansion franchise, the Columbus Aviators finished third with 10,362 paying customers per home game in 2026. The other five UFL franchises failed to average 10,000 fans per game with the two Texas teams (Dallas and Houston) coming in last with 6,185 and 5,683 per game respectively. Birmingham (which plays in UAB’s home football stadium) and St. Louis played their home games in traditional football stadiums. The other six UFL franchises played the 2026 season in smaller soccer venues.  Lease costs for these soccer stadiums are lower than the cost of most traditional football stadiums.  Home television viewers are less likely to be turned-off by seeing small crowds if played in a 20,000 seat soccer stadium. The UFL home team attendance figures have declined in each of the league’s three seasons. The 2024 season produced an average of 12,800 fans. In 2025, the UFL dropped to 12,168 per game. This year’s 10,500 average marked a 14% decline from 2025. Ouch. It means that the public (even with affordable ticket prices of $20-30 available) simply is not very excited about the UFL’s on-field product. Now for the “Meh” – Television ratings in 2026 were relatively flat vs. 2025 I remember reading an article a few years ago which claimed that the UFL needed to draw more than one million television viewers per game in order to have a chance to turn a profit. Well, that didn’t happen again this year, either. The Friday night prime time game on FOX produced consistent numbers. The ratings showed a reliable audience of 600-700,000 viewers on Friday nights during the 7PM to 10PM Central time period. That may sound good until you know the rest of the story.  The FOX Friday night audience for UFL games was mired in last place all season when compared to programming on competitors CBS, NBC, and ABC. FOX Sports (a part-owner of the UFL) cannot be pleased with their investment after three seasons. Ditto for Disney’s ESPN brand. The sports giant also owns a piece of the UFL.  They televised one or more weekly UFL games via ESPN and/or corporate affiliate, ABC. The 2026 ratings for the Saturday and Sunday UFL games on ABC continue to show the highest viewership.  At least four regular season games on ABC topped the one million mark during the first nine weeks of the UFL season. That meant only 11% of the first nine weeks of UFL games in 2026 produced a television audience of one million or more. If the league’s original goal was to reach one million viewers per televised game, the UFL continues to fall woefully short of that target. The “OK” – the spring football league continues to innovate and try harder UFL ownership includes the aforementioned FOX Sports and ESPN along with Dwayne “The Rock” Johnson, his ex-wife Dany Garcia, Redbird Capital Partners, and billionaire Mike Repole. Repole bought his way into the UFL following the 2025 season.  His ownership percentage and who he purchased it from have yet to be disclosed. It has been new owner Mike Repole who pushed to move UFL teams into smaller soccer venues in 2026. He also gave the green light to relocate UFL franchises away from San Antonio, Memphis, and Detroit in favor of Columbus (OH), Louisville, and Orlando for this season. Those three non-NFL cities produced slightly improved attendance figures and saved money with significantly lower lease costs.  However, none of the three teams turned a profit based on their gate receipts. Despite his personal energy, Mike Repole’s promotional skills and tinkering with the UFL simply hasn’t paid off.  League attendance went down in 2026 while television ratings were flat. The effort is commendable. The UFL’s massive annual losses, though, continue. What should the UFL owners do at their next meeting following the 2026 season? Let’s make an assumption that the UFL loses (just my guess here) $50 million in 2026.  That would mark the third consecutive year of significant losses for the latest spring football experiment. Non-corporate UFL owners such as Dwayne Johnson and his ex-wife, Dany Garcia, should be ready to exit as owners by now. They cannot be pleased with losing millions of their own money every year.  The cash losses by the UFL show no sign of abatement should the league continue into 2027.  Johnson and Garcia lost big bucks with the XFL, too.  They have now been losing even more money with the UFL for three seasons. Why should they stick around? Redbird Capital Partners might fly away at the next owner’s meeting, too. The private equity investor claims over $10 billion in managed assets.  Redbird’s website currently displays the UFL as one of 36 different major investments for the company.  The UFL’s continuing annual losses are a negative.  Don’t be surprised if they, too, wish to move on at the next UFL owners meeting. FOX Sports may have a different perspective on the UFL. The NFL on FOX could end within the next five years at the end of the network’s latest contract. FOX Sports could, perhaps, envision the UFL becoming a potential future fall competitor for the NFL.  The fledgling American Football League of the 1960’s did it.  However, it took ten years for the NFL to eventually gobble-up their competitor. Let’s say that I’m wrong about FOX Sports’ long-term thinking on the UFL.  They really don’t need the UFL for programming and might be ready to pull the plug at the next owners meeting. How are ESPN and ABC feeling about the UFL right now? Mounting annual losses by the UFL are (effectively) petty cash for Disney.  The current spring positioning of the UFL season fills a major weekend programming need for ESPN and ABC.  There aren’t a lot of major sports events available to fill air time on ESPN from April through June. An important item to remember is that the NFL sold its NFL Network to ESPN earlier in 2026 in return for a 10% ownership stake in ESPN.  ESPN and ABC must now seriously consider doing whatever the NFL wants with respect to the UFL.  They could vote to stick with the UFL or decide to shut it down for good this summer. That leaves the enthusiastic billionaire UFL investor Mike Repole. Repole jumped into the UFL dumpster fire with both feet last year.  Most billionaires get rich by being very shrewd in business. I suspect that Mike Repole (if he sticks around for another year or more) sees the UFL eventually becoming a partner with the NFL down the road.  He appears to be a risk-taker willing to swing for the fences. Should the NFL ever decide to invest in the UFL as a spring football partner, Mike Repole’s investment gamble could pay off handsomely. Than again, the NFL has plenty of its own billionaire owners, too.  Their luxury cruise liner isn’t likely to throw a life preserver to Mike Repole or any of his other UFL ownership partners anytime soon. The UFL’s third year financial condition reminds me of a 1977 Harry Chapin song. “The Dance Band on the Titanic” featured some rather clever lyrics and an upbeat melody.  In the musical version, the ship’s band was trying to create a musical diversion just as the massive boat began to sink. One line of the song says,“The iceberg’s on the starboard bow – Won’t you dance with me?” This next meeting of the UFL owners is likely to be a dandy. The post Previewing the upcoming UFL Owners Meeting appeared first on SwampSwamiSports.com.

June 9, 1898. Following the Opium Wars, Britain signs an agreement to lease Hong Kong from China for 99 years. Support the show! Join Into History for ad-free listening and more. History Daily is a co-production of Airship and Noiser.Go to HistoryDaily.com for more history, daily.

Nog een kleine maand en dan gaat de Tour de France 2026 van start. Zo langzaamaan begint ook de voorpret richting de grootste wielerwedstrijd op de kalender. Maar niet voordat we nog even terugblikken op een sensationele ontknoping van de Giro d'Italia Women én de nieuwe diskwalificatie van Jan-Willem van Schip. Je hoort het in de nieuwste Wielerflits Podcast!AD| MNSTRY & Philips OneBladeDeze podcast is mede mogelijk gemaakt door de voedingssupplementen van MNSTRY en de scheermessen van Philips OneBlade.Hoofdredacteur Maxim Horssels ontvangt deze week vaste co-host en verslaggever Youri IJnsen. Ze kijken terug op een fantastisch einde van de Ronde van Italië voor vrouwen, waar Demi Vollering met een coup alsnog de eindzege naar zich toetrok. Ze trekken de parallel met de Tour de France Femmes, waar we waarschijnlijk ook een meer dan getergde Lorena Wiebes zullen terugzien. Zij werd immers vorige week uit koers gehaald vanwege een te lichte fiets. Al snel verschuift het onderwerp dan naar Jan-Willem van Schip, die weer werd gediskwalificeerd.Dit keer vanwege een bidon onder zijn shirt. De gendarmerie moest er zelfs aan te pas komen. Heel veel heisa, maar wel eentje die pijnlijk duidelijk maakt hoe onduidelijk de UCI-regels in sommige gevallen zijn. Maxim en Youri pellen deze gehele situatie laag voor laag af. Daarna gaan ze over tot de orde van de dag en beginnen ze langzaam toe te werken naar de Tour de France. De eerste honderd renners zijn toegevoegd aan het Wielerflits Ploegleider-spel en momenteel is de Tour Auvergne-Rhône-Alpes bezig. Opvallend: de Tour-favorieten ontlopen elkaar dit jaar.In het laatste deel van de podcast ontleden onze mannen drie selecties van mogelijke Tour-teams. Ze beginnen met Decathlon CMA CGM. Daar ligt beoogd kopman Olav Kooij na zijn langdurige afwezigheid in de weegschaal door de stormachtige ontwikkeling van supertalent Paul Seixas. Hoe gaan ze dat oplossen? Waar de Franse equipe een luxeprobleem heeft, heeft Picnic PostNL kopzorgen. Onze mannen komen tot tien gegadigden, maar het houdt niet over. En wie vervangt Christophe Laporte bij Visma | Lease a Bike? Je hoort het in de nieuwste Wielerflits Podcast!

Keith talks with data-driven investor Neal Bawa, the "mad scientist of multifamily," about why apartment values have dropped 20%–30% while single-family prices have stayed resilient.  They break down how interest rate shocks, the homeowner lock-in effect, and a wave of new multifamily supply are reshaping returns for today's investors.  Keith and Neal also dissect the build-to-rent model—who it really serves, how apartment oversupply is pressuring its rents, and why pending legislation could upend the space.  Neal closes with a specific, data-backed timeline for when multifamily rents and values may finally turn the corner, giving listeners a concrete roadmap instead of vague market guesses. Resources: Grocapitus Website - https://www.grocapitus.com Multifamily U's Free eBook: Location Magic - https://multifamilyu.com/lp/location-magic-ebook/ Multifamily U's Investor Club – https://multifamilyu.com/club Episode Page: GetRichEducation.com/609 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.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  FAMILY to 66866  Unlock truly passive real estate income—visit flockhomes.com/GRE today to see if your properties qualify for a 721 exchange with Flock Homes. To get in the best physical, mental, and professional shape of your life, go to DanielThomasHind.com and apply for Daniel's intensive 1-on-1 coaching for burnt-out entrepreneurs and executives. 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— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:00   Keith, welcome to GRE. I'm your host, Keith Weinhold. The single-family real estate market is steady, but with apartment building values down 20 to 30% since 2022 when will the multifamily Armageddon end? We ask our qualified guest, and how will slowing birth rates in immigration affect real estate? And more today on Get Rich Education. You know, Mid South Home Buyers, that top Memphis turnkey provider. I learned that a secret weapon behind their explosive growth is more than just you buying their properties, it's an executive coach for nine years now, their CEO, Terry Kerr, and his COO, Pat Nix, have worked privately with a coach who I've now learned from too, and he doesn't market himself online anywhere. After 12 years behind the scenes, that coach is now making himself available exclusively for GRE listeners. His name is Daniel Thomas Hind. If you're a hard-charging business owner or investor who wants to get in the best shape of your life, physically, mentally, and professionally, you can fill out an application for a free consult. This is private one on one coaching for those willing to go to uncommon lengths to achieve uncommon results. Thanks to Daniel, we've all become better leaders, better operators, and better men. It started by showing up for ourselves. Now it's your turn. Go to Daniel Thomas hind.com H I N D, that's Daniel Thomas hind.com and sign up before Spotsville Flock homes helps multifamily owners exit the operator grind, whether it's your six plex or a 50 unit apartment, through a 721 exchange. This defers your capital gains tax. It's a strategy long used by institutions. Now you can swap tenants and toilets for passive income and zero management. Request your initial valuations. See if your property qualifies at flockhomes.com/gre That's F L O C K homes dot com slash G R E.   Neal Bawa  2:13   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  2:29   Welcome to GRE from Valencia, Spain to Valencia, California, and across 188 nations worldwide. America's favorite shaved mammal on a microphone is back with you for another wealth building week. I'm Keith Weinhold, and you're listening to Get Rich Education. The world's biggest problems are the world's biggest businesses. That's not a coincidence, and that's why we discuss housing here. And there's been a chronic shortage of affordable housing last month at a commencement speech, Harrison Ford, yes, the guy that played both Han Solo and Indiana Jones, talked about how a fulfilling life has both passion and purpose. Passion is what gets you out of bed in the morning, purpose is what helps you sleep at night, you and I. We can bring this mindset to our lifestyle, to the business we do, and to our investing. Treating tenants well is what helps real estate investors sleep well at night. While we're doing well, we can be doing good too. Multifamily syndicators keep failing, going out of business, and losing all of their investors' money due to mortgage rate resets. It just keeps happening. What this really means, that these groups that pooled together investor money to buy apartment buildings, largely that were set up in 2022 and earlier keep blowing up almost fully due to the fact that interest rates reset higher. Some of them had a fixed rate for five years. Well, rates spiked four years ago, and that's why a lot of them have yet to blow up, and these apartments have lost so much value that no one will refinance them, you know. Even if that apartment operator increased the net operating income over the years, even if rents went up, it doesn't matter. So, you still haven't heard the last of it. Do you remember a couple years ago, when a lot of people in the apartment space, they were saying just stay alive till 25 and that nonsense, like if you keep your head above water until 2025 oh well, then rates are certainly going to fall, and everyone's going to be okay. Well, 2025 is long gone.    Keith Weinhold  5:01   Mortgage rates haven't fallen in any significant way, so that survive until 25 thing or whatever mantra derivative people used that was a farce, like I've said on the show here for years. You cannot predict interest rates, so I didn't make the call that they were going to go up or down at all, because you can't predict them, but so many people said, oh, rates will fall substantially by now, no way, you just can't make that assumption, you've got to take history over hunches, and all of that, a lot of those multifamily deals 100% depended. depended on refinancing at favorable rates, and that's exactly why they failed. A surefire way to look foolish is to predict interest rates. We'll talk more about the multifamily Armageddon with today's guest. I also want to get into what's called the 21st century road to housing act, because that became one of the most hotly debated housing policy provisions this year. And what this is, is a Senate bill, and it would require certain large institutional investors that develop these bills to rent single family communities. It would force them to sell those homes to individual buyers within seven years. So, in other words, what a big firm could do is build a neighborhood of rental homes, lease them for up to seven years, but they couldn't hold on to them any longer than that. They couldn't hold them indefinitely as rentals, this bill is not aimed at you, the individual investor. It is aimed at big institutions, and what I mean by that is that's generally defined as owning 350 or more homes. That's what we're talking about here. Small landlords and mom and pop investors are not the target, it targets corporate portfolios, and this means groups whose names you've probably heard of, like Blackstone, First Key Homes, Progress Residential, and Invitation Homes. They are some of the heavyweights that the government is looking to clamp down on, so whenever you hear someone talk about big Wall Street landlords, that is who they're talking about. Now, some groups are pretty worried about the 21st Century Road to Housing Act, like the NHB, that's the National Association of Home Builders, and a lot of multifamily groups are concerned, and why is that? Well, the effect is it could dramatically reduce new housing production.   Keith Weinhold  7:44   See, a big institution like First Key Homes or Blackstone, they wouldn't want to even get into this business anymore. They wouldn't want to build big build to rent communities anymore if they have to sell them all within seven years. See, they want to buy and hold for the long term, kind of like what you and I are doing, because you and I know that owning a group of selective buy and hold single family rentals is a really profitable place to be, but so if they don't want to build, then that creates a reduction in supply, which could make prices go up, and then obviously hurt those trying to afford their own home. Well, that would defeat the purpose of this whole thing. I mean, my gosh, this always seems to happen when government gets involved. So, the 21st Century Road to Housing Act could limit supply, which is the exact opposite of its intent to get first-time home buyers into their first home, and if this passes, it does have bipartisan support. This lower supply, then yes, indeed puts upward pressure on prices. Just amazing. So then it could actually go on to help the everyday mom and pop investor, like you and I, that already owns property, the individual at last check, though they're looking to pass a version that still restricts some of these giant institutions from getting into build to rents, but yet it does not have that seven year sale requirement. What's really important to remember here is that Washington, they're looking to stifle big Wall Street players from the rental market, which could reduce supply. They're not targeting individual investors. The context that's important is that these groups, they own 10s of 1000s of homes, they don't own hundreds of 1000s, and they don't own a million, so it's a really small percentage of the housing market, whatever direction policy breaks, then the headlines that it creates are just greater in magnitude than the effect on the market is. It's an important frame of reference here. Let's meet this week's guest. This week we're welcoming back a guest that we haven't heard from in a year or two in real estate circles. He is popularly known as the mad scientist of multifamily. He's quite an in-demand speaker. He has a $500 million multifamily portfolio that he essentially shares with over 1300 investors. He's sharp, a good educator, and a straight shooter. That's why he's here. It's a warm welcome back to Neal Bawa.   Neal Bawa  10:32   Thanks for having me on the show again. It's delightful to be here, and so many interesting things to talk about in the world these days.   Keith Weinhold  10:38   There really are.. I don't know if we can get it all in, Bawa is spelled B A W A. Neal, I want to get to your future housing market outlook later. How you think the future looks, including when multi families quasi Armageddon might end. But first, you're known as a data driven real estate guy. Tell us about that, and how being data driven makes you profitable.   Neal Bawa  11:03   I see concern, and I'll tell you why. The single family and multifamily market have been atrociously incredibly divergent since the first quarter of 2022 They have not tracked yet each other at all, even though if you look at the last 50 years, they tend to track each other. So you know, 2008 was a Armageddon for single family, Armageddon for multifamily, and they both sort of came up in 2012 2013 and then they had a really good time until Covid.   Keith Weinhold  11:30   Yeah,   Neal Bawa  11:31   but the second quarter of 2022 is when Fed started raising rates, and since then we've sort of slid - multifamily has gone down in terms of pricing between 20 and 30% depending upon the metro, you know, and depending upon whether it's new construction, new construction assets have gone down more than 30% and existing assets that are filled up have gone down by 20 to 30% depending upon the metro. So, metros that have a large amount of supply, closer to 30% decline in value, the metros that have less supply probably closer to 20% decline in value, right.   Keith Weinhold  12:03   Demand demand has been pretty resilient. It's more of a supply story.   Neal Bawa  12:06   It's a huge supply story, right. So, if you look at, you know, occupancy, essentially what's happened is there was so much supply that came in that really people started on those projects in 2022 maybe they didn't start a construction until 2023 they didn't finish construction until 2025 so they started leasing up in 2025 They had to give offer concessions two months, sometimes three months free, and so that pushed down the rents in 2025. And they're not done, because you typically can't rent an apartment in six months. If it's brand new, it's going to take you about 18 months to rent it, and sometimes 24 months, and so it's affected our rents in 2025 it's affecting our rents in 2026. Now it's unlikely to affect it in 2027 but we'll go there, you know, at a later stage. But at the moment, we, what we've seen is negative rent growth in the United States for multifamily for the last 12 to 15 months, and what I think is going to be negative rent growth in Q of this year and Q2 of this year, so Q1 was negative, Q2, which we are in now, is likely to be negative or flat now. Single family, on the other hand, has gone in a different direction, which has been very difficult to understand, and I believe it's taken me a while to really understand this, but I think I've finally figured it out. Single family prices are not down since 2022 which makes no sense at all, because the average mortgage in the United States today is almost double, almost double, not quite double, but almost double of what it was in at the beginning of 2022 when interest rates were about 3.3 3.4% Right now we're sitting around, you know, six and a half percent interest rates, so not quite doubled interest rates, but they've obviously gone up a fair bit, and as a result, your average, you know, mortgage has almost doubled, but home prices haven't dropped, which makes no sense if you really think about it, because home prices are a factor of demand, and they're also a factor of people's ability to pay, so if all of a sudden within four years you're paying, the mortgage is doubled, then less people are going to be able to buy, but it stayed up, the market has stayed up, and the biggest reason it stayed up is because of what is known as the lock-in effect. So, the US market typically has a million new homes every year, and there's more than a million existing homes that are transacted, right? So, it's an open market, it's a perfect competition market, but it hasn't been perfect competition for the last four years, because so many people locked in ridiculously low interest rates.    Neal Bawa  14:28   Perfect example, in 2021 and 2022 I have a 15 year mortgage at 1.75% If I sell my house back to myself, my mortgage quadruples, quadruples, right, because it goes from 1.75% to six and a half percent, so I can't even imagine even think about leaving my home, right, because it's just such a perfect loan. Most people don't have anywhere near 1.75% but there's lots of people with more mortgages in the 3% three and a half percent, and 4% range that basically can't go anywhere, and because those homes are not coming into the market. The last three years the market has had this unusual not enough supply factor, and that's been keeping prices up. That is ending. That is ending, because what we've been tracking is the percentage of homes in the United States that have low mortgages. Low is simply defined as anything under four and a half percent, and that percentage is going down each quarter, because you know divorces happen, deaths happen, you know people move for jobs, and so every time that happens, that locked in rate goes away, because you sell your home and move on, and so for a while that lock in effect was predominant, it was controlling everything, but as time has gone on, interest rates were higher in 2324 2526 For also almost four years have passed since the rate started going up. So each quarter the percentage of homes in the US that have these low interest rates has slowly moved down, and we're almost back to a normal timeframe.   Neal Bawa  15:53   And this is causing the single family market to not have a conniption, but we're starting to see a balancing of the market, where it's not just a buyer's market anymore, in some places it's actually seller's market, some places it's a buyer's market. So we're now starting to see home prices drop in number of markets in the United States. I can't say that they've dropped in super majors, but we're seeing a flattening out effect of home prices in most metros in the US, and there should be a flattening effect. Just to be blunt, I mean, obviously I own a bunch of single-family homes, so I just wanted them to keep going up for selfish reasons. But if you think about it, we had huge home price growth in like 30 plus percent in number of years, 2021 22 and even 23 and during those years, salaries only went up by two to 3% a year. In one year, they went up by 4% and rents also went up like crazy. There was a 2021 was 15% rent growth year. So, at some point, there had to be an adjustment, and we are in that period of adjustment where single family prices are basically flat on a national basis. Yes, going up in the San Francisco Bay Area because of AI, and going up in a couple other technology-heavy metros because of AI, but otherwise fairly flat, and I don't expect that to change for the next year. So, my forecast is next 12 to 18 months, home prices in the US are going to be flat on a nominal basis, they're going to be down on an inflation-adjusted basis, but you know, because of the Iran, more inflation's three and a half percent, so home prices should go up three and a half percent. So, if they stay where they are, well, they're really dropping three and a half percent.   Keith Weinhold  17:29   Yeah, before this year began, I released our forecast, it was for 2% nominal home price appreciation in the one to four unit space for the US this year, and I still like how that looks. There's so much to unpack with what you just talked about. In my view, there's nothing unusual at all that when mortgage rates rose sharply a few years ago, that home prices rose as well. Why? Because actually, that's what usually happens, which is counterintuitive to most people. In all of our lifetimes, residential real estate prices have only fallen significantly one time, that was around 2008 due to a number of unusual circumstances. The only thing that's a bit different this time is, of course, how fast rates increased in 2022 and 2023 and people wondering if residential real estate prices could still keep up, and they certainly have, but yeah, you brought up this dichotomy, this bifurcation about how the apartment market and the one to four unit space kind of separated from each other in 2022 or 2023 That's what's so interesting.   Neal Bawa  18:36   I do want to point out a couple things, though, and I don't want to be a Pollyanna here and talk about negative stuff, but I think that there's big difference between 2008 and that timeframe and where we are today, and that difference is, and it has multiple parts. Not all of your audience is aware of this. Until about 2012 the United States had very reasonable birth rates. You know, we were one of those countries that had avoided the debacle that Japan, Korea, China, and a number of other countries are seeing South Korea being the absolute worst, where basically they were producing one baby per generation, where you need about 2.2 babies just to kind of keep your population where it is, right, and the US was unusually high in that, and that we were still above that threshold, which meant that our population would continue to grow and not fall. Now, there was two reasons our population was growing: One, we had more than 2.2 babies per household, and second, we had a very significant amount of legal and a very significant amount of illegal or undocumented immigration. Right, so we had both of those pipelines today. All three of those have flipped, so the United States now basically looks like Korea or China or Japan in that every household is producing about one and a half babies, which means that our population growth, which hasn't stopped yet, because it takes a while for these things to catch. Up is likely to stop, like it's, and at some point decline again. Luckily, we're not there yet. The US is a fairly young population, unlike Japan, which is one of the oldest populations in the world. So, it'll, we'll still continue to see population growth, but there is no doubt. And you can ask Chat GPT, right? How has population growth in the United States slowed over the last 20 years.    Neal Bawa  19:22   Make me a graph, and it will make you a very nice graph, and you'll very clearly see there's a slowdown in population growth. The second part is both documented and undocumented immigration. It's my estimate that since this administration took over, somewhere between half 1,000,001 million people have left the United States. Now it's very difficult to get an actual number, as you can imagine. A number of these people were undocumented, so we didn't really know how many there were to begin with. And a number of them, when they left, they also left by an undocumented rate, that you know, path. So we've lost a bunch of those people, and also the people that have stayed in the country, we've lost a number of them in the workforce. Here's a perfect anecdote, Keith. About 33% of the construction workforce in the United States was undocumented, one in three. In Texas, as much as 40%   Keith Weinhold  19:45   Yeah, that's huge.   Neal Bawa  19:45   It's very significant. Number of those people don't show up for work anymore. I don't think they've left the US, at least I don't think so. But they don't show up for work anymore, because that's how they get caught, right. So, what we've seen is that the construction workforce in the United States has become been decimated over the last 12 months, and the impact is much greater in the second half of 2025 than the first half. Why? Because even though they wanted to do ICE enforcement, they just simply didn't have enough agents, enough facilities, enough judges. When the second half of last year, they sort of started catching up on that, hiring more agents, getting more facilities, getting more judges, and so we started to see a real challenge there. I have properties in 10 markets in the US, and what I can say is about seven of those markets, mostly Southern markets, I am beginning to see dropping occupancy related to this phenomenon. I'm seeing a reduction, and so markets like Georgia and Texas, Florida are more hit than my northern markets like Idaho. I haven't seen any impact at all, but these southern markets, multiple properties, multiple metros, I'm seeing this - people, mostly of Spanish, Mexican origin, not renewing leases. I don't know what they're doing. I don't know if they're sleeping in their cars. I don't know if they're basically just, you know, staying with mom or staying with, you know, some other family. But I'm seeing a very, very big pullback in my leases tied to this, and occupancy is dropping in those markets that are heavily Hispanic. And so I'm seeing the impact of that on landlords, but I also know that there's an impact on the US at all, and overall demand on rentals, whether it's single family or multifamily. This is a significant impact, because I don't think that the Republicans are going to make a U-turn on this. I don't want to get political, but you know, stating the obvious.   Keith Weinhold  19:45   Yes, United States had its biggest birth year in 2007 when there were more than 4 million babies born. The average age of the first time homebuyer today is 40 years old. If that holds true, that peak would take place in 2047 And then, yes, to your point about changes in immigration, yes, it sounds like a potentially a reduction in demand with what you're talking about, with some vacancies, and also maybe a reduction in supply when you have fewer construction workers to build these places as well, we're talking about building properties. Neal, I want to talk to you about the build to rent space. Somewhat is build to rent better than traditional real estate? I think that's what we really want to know. And for those that don't know, build to rent means when you construct a property where from day one that construction project is built for a tenant, not an owner occupant. I see a lot of pros and cons there. Can you talk to us about the trade-offs between build to rent and traditional real estate?   Neal Bawa  19:52   Yeah, if you think about it, it's a really terrible word, built to rent, because if you think about the word built to rent should be apartments, right, but actually doesn't mean apartments, right? So, built to rent actually means single family or town homes that were built to rent out, right? And then you're like, why don't they just said built to rent apartments and town homes? Well, you know, was too long an acronym, and we suck at acronyms anyway. But BTR, or built to rent, is essentially building single family or town homes, but specifically building them to rent, and it doesn't include any apartments at all, right? And the reason why the BTR market was growing in the last five or six years is that roughly 18 million American families can no longer afford to buy starter single family homes, you know, and by starter I mean, small old single-family homes. That's how Americans usually started, you know, in their 20s and 30s. They would buy these homes, some of them, but they would fix up, and then they over time, in their 30s, late 30s and 40s and 50s, they would upgrade, and then at starting the 50s, it would flatten out, and then the 60s, they would start to downgrade, right? That's been a typical thing that's happened in America for 56 5070, years. Well, that is, cannot happen anymore. And it broke in 2022 until 2022 It was a normal cycle beyond 2022 because interest rates almost doubled, and the mortgages almost doubled, but the incomes only increased by 10 to 20% There became this orphaned generation of Americans, roughly 18 million families, that simply cannot afford to buy that starter home, and they are now forever renters. They don't know it. They think that they're going to catch up at some point, but five minutes with an Excel spreadsheet, I could prove it to them that they're not going to catch up.    Neal Bawa  25:35   Maybe one in 100 families would see a very large increase in income, and that would result in them catching up, but for the most part, as a group, these 18 million families, they're forever enters as a group that didn't exist before 2021 right. It's entirely because of this outrageous increase in mortgages, while not seeing a drop in home prices, that led to this, and so those orphan families, they actually earn pretty well, so these are families that make 70, 80, $90,000 in mid markets. They make over $100,000 if they're living on the coasts or in expensive markets, and they still can't buy that, you know, starter home. And so they don't want to live in apartments. I have lots of apartments, old ones, new ones, and I want these people to live there, but they don't want to live there, and so they've been looking for an option, and that option has been developers like me building communities of 200 300 townhomes or single family homes with a small little yard, and then basically from day one, instead of selling them, renting them out, and then once you're done renting out the whole community with 200 tenants, then you sell that to an apartment company. You know, there's lots of apartment companies in the US that have 100,000 units. Well, they want to buy these because the turnover is lower. So, what happens is most of these town homes and single-family homes for rent. Families come in, and they typically rent for three to five years before they move, whereas in on my apartments I lose 40% of my tenants each year. So, if I have 200 tenants, I lose 80 of them every year, and I have to basically go back, clean up those units, deal with the vacancy. But when I have townhome communities like my Idaho Falls townhome community. I lose a tenant at roughly every four years, and so, as you can imagine, profitability goes up when turnover goes down, right?   Neal Bawa  27:31   Because you don't have that cost of turnover and vacancy, and so eventually those large landlords that are holding 100,000 units figured out, I like this, what Neal Bawa is doing, he's building these 200 townhomes, I want to buy these from him when they're rented. I don't want to build them, I don't want to lease them up, I just want to buy them when they're stabilized. And so BTR became that name for that marketplace where developers would build townhomes and single families, rent them out, and then sell them to institutional, and it was some—   Keith Weinhold  27:56   People think of fabulous institutionalization of the starter home.   Neal Bawa  28:00   And in many ways it is, because what happened is, for a while, these institutional players, like Blackstone and BlackRock, they were like, we are just going to go out and buy 50,000 single-family homes, and that's going to be the institutionalized. Well, that worked really well if you bought in 2008 2009 2010 2011 because you got them bought them at a discount, but when they started buying them in 2015, 16, 17, 18 at ever higher prices, they didn't make any money. So the vast majority of these public funds that were created to buy large amounts of single family have failed if they've purchased anything in the last seven or eight years. If they bought before that, they made huge amounts of money. Family homes are so expensive that basically buying them for rental did not make sense, so these companies have now pivoted to saying we'll only buy communities that have 100 or 200 or 300 of these homes, because then we get the benefits of having centralized leasing, centralized property management, centralized maintenance, and I don't have homes spread all over the metro, they're all in one place, and I can make more profit from that. In theory, that's been good, and you might think that I'm bullish on BTR, but I'm actually today bearish on BTR for one single reason. About seven months ago, Republicans started talking about a bill - I don't know what the name of the bill is, but what this bill does is it forces builds to rent developers like me within seven years of building the property to sell all of the homes in that property to single family tenants, not to Blackstone, not to Blackrock, but to single family tenants. Hasn't passed yet, but it passed the Senate with an 8910 vote, which means that both Democrats and Republicans wanted to vote for this. If it passes the House, and because Donald Trump himself is very heavily opposed to it, he's made it very clear he doesn't like this. He's a developer, obviously. It hasn't passed the House yet, but if it passes the house, that will destroy the build to rent market. No one will ever build build to rent, because the worst possible thing is I build this, and within seven years I have to actually sell it to individual buyers. If I do that, my banks are going to hate me and not give me loans to build BTR anymore. Obviously, there's going to be some grandfathering to the communities that I'm building now, or maybe even build the ones that I'm building in 2027 maybe grandfathered. It usually is, because you know, Congress never does anything retroactively, and they give you a year or two, but if it passes, it's doomsday for BTR. I hope it doesn't happen, but that's the way it's looking, because it's bipartisan. Bipartisan bills are more likely to pass   Keith Weinhold  30:40   Now for the mom and pop investor, the individual investor build to rents have obvious appeal due to your point about the lower turnover, lower maintenance costs on a new build, lower insurance costs often on a new build, and then there's the tenant appeal to a new build as well, but of course there is that investor downside. I think a lot of investors are aware of their thin initial cash flow that they're going to have on build to rent, but you know, Neal, another downside with build to rent, I think a lot of investors don't look at is, hey, just how many of these things are they building? Are they building 500 of them? Do I have some overbuild risk if I buy into this community that could suppress occupancy and rents for a while.   Neal Bawa  31:21   What we've seen is that when Built to Rent started out in 2017-2018 it was its own asset class. It wasn't competing with apartments, it wasn't competing with single family rentals, it was just its own thing. However, in the last two or three years, as more and more apartments flooded the marketplace, we had a glut. It moved away from that. It basically started getting affected, and the rent started falling, just like any other portion of the market. You know, think of it as three portions of market. There's the built to rent, which I described, you know, brand new single family homes, town homes per rent. There's the apartments, both brand new and existing, and there's the single family rentals, right, which there are millions of. What we are seeing now is it's become one market, right? All of them are affecting each other, and the apartments, which have a huge amount of glut, there's a massive amount of new apartments that have come in in the last two years, are really pushing the rents down for single family, they're pushing that rents down for BTR. So, at this point, what I would say to people that have this concern, Keith, is simply look at incoming apartment supply, because if you're in a marketplace, and I'll give you examples of really good markets that are crushed right now. If you're in a market that has a lot of incoming supply, whether you buy a single family rental, a quadplex, a 50 plex that's an apartment, or 100 unit BTR, you're going to suffer for rent growth if you have a lot of incoming supply in 2026 and that is across the board in every market in the US. Huntsville, Alabama is, in my opinion, one of the most interesting markets in the US for 5 year, 10 year growth, right?    Neal Bawa  32:54   If I had to say you don't need a loan, it's just your own cash, no investors, where would you put money in? It would be at the top of my list, not at the very top. Idaho Falls is definitely the number one market in the US in my list, but Huntsville is up there. But right now, do you know what rent growth in Huntsville is? Minus 2% negative 2% Why? Because there's 6000 units coming into a market that's, you know, 1/5 or 1/10 the size of Phoenix, right. It's 1/10 the size of Dallas, but it has half the units of Dallas or Phoenix coming in, and so rent growth is negative there. So, what I would say is today absolutely everyone that is an investor should understand that we live in the magic world of AI, and you should be talking with Chat GPT about incoming supply for any market that you're interested in, and using that to make your decisions, because all of these markets merged, BTR, new apartments, old apartments, single family, everything has emerged in the last 24 months, where they're all affecting each other, and if there's too much supply of any one kind, it's affecting all of the other markets, and that's the message that I have. And none of this is like you have to go buy a $25,000 software like Costar today. Chat GPT is your costar.   Keith Weinhold  34:11   You're listening to Get Rich Education. We're talking with the mad scientist of multifamily, Neal Bawa, where we come back, including what he thinks about recovery for the beleaguered multifamily market. I'm your host, Keith Weinhold. 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What I like is that their team walks you through how it all works, so you can decide if it aligns with your portfolio and income goals. Every investment carries risk, and nothing is guaranteed, but with a track record of consistent on-time investor payouts, they built real credibility. Go to freedomfamilyinvestments.com to book a clarity call, or text family 268 66 That's Family 266 866    Speaker 1  36:00   This is the star of the A E Show, The Real Estate Commission. Todd Rollette. Listen to Get Rich Education with my friend Keith Weinhold, and don't quit your daydream.   Keith Weinhold  36:20   Welcome back to Get Rised Education. We're talking with Neal Bawa, a really sharp multifamily syndicator who's also highly data driven. And Neal, tell us more about the beleaguered multifamily market that had those aforementioned problems really cropping up in 2022 and we had a lot of supply and spiking rates. What does it look like for the path to recovery for the US multifamily market?   Neal Bawa  36:45   Luckily, demand is strong, and even though occupancies have dropped, typically the multifamily market, the large multifamily market in the US, tends to be between 95 and 96% occupied. Okay, and right now we're on 93% so that all that incoming supply means that about 7% of our apartments in the US are empty at the moment, we're trying to fill them, and we are seeing that occupancy drop, not across just new apartments that are leasing up, but also drop in class B and class C. We've also seen a huge increase in concessions, so I studied this quite obsessively, and I can tell you that 2026 in some markets is the recovery year, but not across the board in the United States, and the reason for that is sentiment. Once renters get used to huge amounts of concessions, it's like a drug, it takes a little while before you wean those renters off of those drugs, and so there's that hit right now. Every renter program,   Keith Weinhold  37:44   Everyone wants their freebie for good.    Neal Bawa  37:46   Yeah, exactly. It's like, hey, what, you're not giving me two months free? Hey, what, you're not even offering me one month free? It takes a while for that expectation to happen, because there's such a huge amount of concessions in the US. So, to me, there are a few markets, usually the smaller markets or very fast growing markets, where there's a recovery in 2026 but otherwise 2027 The first half of 2027 is recovery. The second half of 2027 is fast rent growth in a lot of markets. Why? Because remember, interest rates have been high since 2023 A lot of projects were started in 2022 went into construction in 23 came to market in 25 and 26 Lease ups are happening in 25 and 26 By early mid 27 these are all leased up, right? The second half of 2027 there isn't a lot of delivery in any of these big markets, because to deliver in the second half of 27 you would have started construction in that second half of 2025 and I counted those permits market by market. There's just not a lot, because by that time everyone knew that projects were not getting funded, everyone knew that interest rates were high, so there wasn't a lot of supply of new starts in the apartment market in the second half of 25 so there's not going to be a lot of delivery in the second half of 27 and all of the existing stuff would have been leased by then. So 2026 is one of those years where we could still see more concessions in the second half of 2026 I still see rent growth for apartments to be flat. You mentioned single family might be a little bit higher. It tends to be a little bit higher than apartments in terms of rent growth, but I think flat rent growth for 2026 is what I'm projecting. I'm projecting small rent growth in the first half of 2027 for most markets, and then I'm projecting robust rent growth, call it 3% or greater on an annualized basis, in the second half of 2027 and I'm projecting that most markets in the US that are not seeing a population drop, so count out places like Detroit are going to see a very aggressive rent growth, four or 5% rent growth, that's aggressive in our world, in 2028 28 and 29 are shaping up to be. Supply deficit years, years where supply is well under demand.   Keith Weinhold  40:05   It's pretty easy to project completions when you just go ahead and look at starts, and really, what you're counting is the story of absorption.   Neal Bawa  40:14   Yep, and what's nice about apartments is you can actually build a single family home in about nine months, right, but you can't build apartments in less than 24 months. There's just so much permitting issues, there's so many delivery issues, fire code issues, and so we have a crystal ball on the multifamily side that we are now getting better at using. I don't think the industry was very good at this in 2022 but now we're really all obsessed with how many permits does my metro have, and how many permits does my state, and how many permits does the US have? And everyone that I know in the industry that's data driven knows that there's a massive glut now, maybe a little bit of a glutton that remaining portion of 2026 equilibrium in 27 and a huge, huge supply deficit in 28 and 29 So everything that I'm doing is based on this, and this crystal ball actually works because of that two year gap between shovels in the ground and delivery,   Keith Weinhold  41:10   and it sounds like you've recommended Chat GPT as a go-to source for investors to look into these things, that happens to be my favorite one as well, and you are well, maybe it's a bit too much to say, but it almost feels like to me pioneering with the way that you use AI. In fact, I know before our show today you were running some other things in the background that made me wonder, hey, am I talking to the real Neil or the clone Neil? I know I've got the real Neil here, but why don't you tell us about how you're using AI to make data-driven decisions in real estate?   Neal Bawa  41:40   Sure, so the first thing is that we've completed our journey with the low hanging fruit of AI. Every single person in our company is fully trained on how to use Chat GPT. Most of our research-related processes are automated. For example, 100% of our investor updates are now written by Chat GPT. What we do is we go into our property manager meetings on Mondays or Tuesdays sit down with them, beat them up, and the transcript is then taken by our team in the Philippines. They take that transcript and put it into a pre-trained Chat GPT string, it's called a custom GPT, and the string took a while to train, but now that it's trained, all it needs is a transcript. We just copy paste it in, we don't give it any instructions, and it outputs a really wonderful investor update, right. And so our updates for our investors are 99% written by AI. Of course, we'll go in and add our comments at the end of the process. So we've automated investor updates, rent comps, so you know if we are underwriting a new property today, what we do is we simply go into a Google file and copy paste the address and hit enter roughly once a minute. A software, which is written by AI - we're not coders, but the software knows how to write code - it checks the file, if it sees a new address, it goes in there, grabs the address, and then it basically goes to apartments.com rent.com realtor.com and all of these places, and checks the rents for this particular property in two mile radius. It eliminates all the ones that don't match, like you don't want to match the rents of a 1970 or 80s built property with a brand new 25 built property. Those are not comps, it's not comparable. So it basically is very careful, it keeps a radius range of two miles, and also basically is a property of the same kind, you know, like it never matches up a three story property with a 10 story property. Those don't match, one of them obviously is more of a central business district or downtown sort of thing, and so it basically grabs all of those rent comps and then puts them into a file and posts in a Slack channel. Usually it takes it about 1213 minutes to do that, and so whoever put that address in about 12 minutes later goes into the Slack channel and says, "Hmm, these are all my rent comps, right? And boom, now you're basically, you have all these ready rent comps. So, what we've done is, we've automated a significant portion of what we are doing with both our property managers and inside the company with acquisitions and things like that, we're also scraping massive amounts of data from the Bureau of Labor Statistics website, which we just couldn't deal with that data before, and building very beautiful, very interactive dashboards. We don't use Chat GPT for that. We find for dashboarding a tool called Claude, which is by a company called Anthropic, is much better, so we have currently over 150 interactive dashboards that Claude has created that update in real time and give us access to data. If anything, I find that we are in this incredible time where decision making has become much easier, as long as you spend time with these tools. So, in our company we have an absolute mandate that no one has broken for the last year. One year per day, people must program, and by programming we mean issuing common language instructions to tools and build dashboards and build software that automates our work. Have we laid off anyone because of this? I mean that. Be the next obvious question. The answer is no, because it's made it easier for us to serve a much larger audience, so it's easier to grow your company. We just are not hiring anyone, and we haven't hired anybody for the last 18 months, so we have a hiring freeze, but at the same time all of our people are employed because they're they're now much more valuable. So everyone in our company is now a programmer, and even though that sounds weird, it's completely true.   Neal Bawa  45:24   Every single person in our company writes code, and they write code by talking with Cloud Code or talking with Chat GPT, and then Chat GPT, of course, does the actual code writing, but people have become very, very good at answering questions and saying, "I want a dashboard like this, turn these radio buttons into drop boxes, and give me the last month, and last three months, and last 12 months, and do this, and do that, and connect this, and I also want to host this on a server, but I want to make sure that only I can see it. I need a password added. Imagine 1000 of these conversations happening in our company every day. Yeah, that's interesting. And what you just described   Keith Weinhold  46:00   there at Gro Capitas is somewhat of a microcosm for what's happening in the broader economy, where we've been in this low high or low fire environment for quite a while. Well, Neal, as we're winding down here, we recently had a new Fed chair come in. It seems incomprehensible to me that there could possibly be any rate cuts. I don't know how we could responsibly make a rate cut with all these inflationary layers. We had the pandemic, and then terrorists, and then the Iran war, and the energy shocks, and all these bottled up supply chains. What are your thoughts with regard to the Fed?   Neal Bawa  46:29   I still think that we'll get one rate cut, and that rate cut will be based on political pressure. So, for the first time ever, I have seen the Fed break into factions, so if you look at the latest Fed meeting, which happened, you know, there was dissent, there were two clear factions, so the Fed is becoming less data driven and more faction driven, and I think that one of the factions, which obviously wants rate cuts to go down, is going to triumph at some point later in the year, but until we get past the incredible increase in inflation because of the Iran war, I don't think that faction is going to win. Right, there's three or four people in that faction, that's not enough votes to get past the others. So I'm predicting no rate cuts until Q4 of this year. If the Fed was entirely logical, there should still not be a rate card in Q4, but I think it'll happen because there's political pressure.   Keith Weinhold  47:25   The preservation of independence is key. Neil Bhawa, this has been great, and a lot of people learn from you. You're a brilliant educator, as well as what you're doing in the multifamily space, and a lot of other places. So, if someone wants to connect with you, learn more about what you do. What's the best way for them to do that?   Neal Bawa  47:43   So we built a website called Multi Family University. It's completely free. There is no subscription. There's no upsell. We do not have an educational product, but what we do is each year we have 8-12 webinars that we create with their extraordinarily good looking thanks to the use of AI. Yay, and we share them with an audience, and usually between 5000 and 1000 people attend our webinars each year, of which roughly 1% become investors with us. The rest, the remaining 99% just continue to get free access to data, and we cover every imaginable real estate topic: Single family, multifamily, industrial hotels, self storage, Airbnb, and even controversial topics outside of real estate, like climate change or impact of climate change and impact of AI. So you know, multifamily university is the best place you can go to, multifamily you.com/club It's a free club, and it's free forever.   Keith Weinhold  48:42   Neal, it's been valuable to our audience. Thanks so much for coming back out of the show.   Neal Bawa  48:46   Thanks for having me.   Keith Weinhold  48:53   Oh, a terrific, wide-ranging chat with Neal. There, yes, this interesting 2022 divergence between single family and multifamily, the slowing birth rate, and how that won't really catch up with real estate in a big way for perhaps 20 plus more years. How single family rentals beat multifamily on the basis of tenant retention, and a lot more that we covered there, and he's got a good data driven timeline for apartments being back in favor by 2027 and 2028 After the interview, Neil and I chatted some more off Mike, and he would like to come back on the show next year. We're probably going to have him, because we have a lot more to talk about at that time. We can see if the multifamily market is really healing. Also, did you pick up on this? I wonder why, for his own home he would get a 15 year mortgage at 1.75% interest, so I'll have to ask him about that. That's surely a fantastic interest rate, but a 15 year loan rather than a 30 year that maybe he could have gotten at two and a half percent at the time. Well, 15 year probably. Is not the best use of capital, because it increases your equity position rapidly. When instead, those dollars could have been out in the market earning an actual return somewhere else. But he's a smart guy, he must have an answer. We can talk about that at that time. We've got a lot of terrific shows coming up here on the GRE podcast, specific learning episodes, where it's just me teaching you, as well as new guests and returning guests too. Until next week, I'm your host, Keith Weinhold. Don't quit your daydream.   Speaker 2  50:35   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.    Speaker 2  51:03   The preceding program was brought to you by Your Home for Wealth Building, getricheducation.com.  

Organic land represents years of investment in soil health, certification records, and the markets that reward that work. When that land changes hands, protecting that investment requires the right lease language, the right records and conversations that start well before anyone signs. This episode features Glennis McClure, farm and ranch management analyst at the Center for Agricultural Profitability at the University of Nebraska-Lincoln, and Carla McCullough Dittman, a Lancaster County landowner and advisor to the Nebraska Organic Program and the Transition to Organic Partnership Program. They walk through what it takes to keep certified organic acres organic through a land transition, from working with certifiers and documenting production history to writing lease terms that spell out compliance responsibilities and protect both parties. They also discuss what retiring organic farmers should be doing now to find the right successor and keep their land in organic production for the long term.Read more: https://cap.unl.edu/news/lease-considerations-and-communications-when-transitioning-organic-production/

Reporting from the Milwaukee Journal Sentinel shows some Walgreens rental leases keep businesses from opening in those buildings, even if the property is vacant.

In today's r/AITAH story, OP quietly moves out of the shared apartment after the breakup and doesn't remind her ex that their lease ends on 31st - leaving him blindsided when the deadline hits and questioning whether her silence makes her the AH.0:00 Intro0:21 Story 14:23 Story 1 comments7:13 Story 1 update8:48 Story 2 10:50 Story 2 Comments12:16 Story 2 Update14:10 Story 2 Comments15:39 Story 319:11 Story 3 Comments / OP's Replies21:00 Story 3 Update21:59 Story 3 Comments / OP's Reply Hosted on Acast. See acast.com/privacy for more information.

Something is shifting in net lease that every investor and owner needs to understand: cap rates are no longer moving in lockstep with the 10-year Treasury. The traditional risk premium framework is breaking down, and in its place, tenant quality, business trajectory, and lease structure are doing the pricing work.In this episode, Karly Iacono breaks down exactly what's happening and why:-What's compressing: McDonald's and Chick-fil-A ground leases are trading in the high 3s to low 4s — tighter than ever — even as rates move against them. -What's widening and why it matters: Dollar General and Dollar Tree cap rates are out due to supply, not business failure. Drugstores are a different story. -The scarcity factor: Few investment-grade retailers have single-tenant expansion pipelines right now. -The maturity wall: Forced sellers heading into Q3/Q4 create opportunity. That's where quality product trades at rational numbers.

Why Triple Net Leases Beat Rentals features Tom Rauen breaking down how he scaled from nightmare residential tenants to owning over 40 passive commercial properties with national brands like Starbucks, Dollar General, and Applebee's. In this episode of the Real Estate Masters Podcast, Tom shares why he left single-family investing behind, how triple net leases create long-term passive income, and the strategies he uses to find off-market commercial deals. He also explains the power of 1031 exchanges, passive cash flow, and why consistency matters more than timing in today's market. _______________________________ If you want to learn how to run your business in 5 hours or less.... Go to https://www.5HourBusiness.com Subscribe to my YouTube channel:    / @tonyjavierbiz And if you're into flying and want to follow my Aviation journey, check out my other YouTube channel at    / @tonyjaviertv _______________________________ Follow me on Social Media: Tiktok -   / tonyjavier.tv Instagram -   / tonyjavier.tv Facebook Personal -   / tonyejavier Facebook Business -   / realtonyjavier ________________________________________ If you want to dominate your Real Estate Market with TV commercials, go here: https://www.ClaimMyMarket.com If you want to connect with me and my network, go to https://tonyjavier.com/connect If you want to check out Tony's Real Estate Resources and Vendors go to https://www.TonyJavier.com/resources ________________________________________ Tony is the owner of an INC 5000-rated Real Estate Investment Company. He has been featured in Bigger Pockets, Wholesaling INC, Steve Trang's Real Estate Disruptors, Joe Fairless' Best Ever Podcast, and many other top podcasts and platforms. When Tony is not working on his business, he enjoys flying his plane. You can see videos on that and how he uses airplanes to save money on taxes. Don't forget to like the video, comment, subscribe to my channel, and share this with a friend if I'm doing my job and providing value to you and your network. If I'm not doing my job please let me know in the comments how I can be better, your feedback is greatly appreciated. See you in the next video!

In this engaging interview, Ron Faraci shares his remarkable journey from a troubled youth involved with the Russian mafia to a successful landlord and real estate expert. Discover his innovative approach to property management, the importance of relationships in real estate, and practical tips from his extensive experience.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true 'white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a "mini-mastermind" with Mike and his private clients on an upcoming "Retreat", either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas "Big H Ranch"? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

There's been a real spike in EV ownership lately, and not just because of the soaring cost of petrol and diesel. There are also some significant tax incentives - and while the federal government is planning to wind these back over the next few years, for now they're still in place. Join Canna Campbell - a financial planner for 20 years - and Fear & Greed's Michael Thompson as they look at the costs and benefits of using a novated lease for a new electric vehicle.Canna and Michael have written a book! Twelve Months to Financial Freedom will hit the shelves on September 1 - but you can preorder your copy right now. --- The information in this podcast is general in nature and does not take into account your personal circumstances, financial needs or objectives. Before acting on any information, you should consider the appropriateness of it and the relevant product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant Product Disclosure Statement or other offer document prior to acquiring any financial product.​Canna Campbell is an Authorised Representative and Financial Adviser of Links Licensee Services Pty Ltd AFSL No. 700012 ABN 97 678 975 589.See omnystudio.com/listener for privacy information.

How to Negotiate Commercial Leases Like a Pro features Greg Schenk breaking down the costly mistakes most business owners make when signing or renewing commercial leases. In this episode of the Real Estate Masters Podcast, Greg explains how tenant representation works, why landlords often have the advantage, and the negotiation strategies that can save companies thousands of dollars. He also shares his journey from corporate sales into commercial real estate, the mindset shifts that created financial freedom, and why relationships and education matter more than transactions. _______________________________ If you want to learn how to run your business in 5 hours or less.... Go to https://www.5HourBusiness.com Subscribe to my YouTube channel:    / @tonyjavierbiz And if you're into flying and want to follow my Aviation journey, check out my other YouTube channel at    / @tonyjaviertv _______________________________ Follow me on Social Media: Tiktok -   / tonyjavier.tv Instagram -   / tonyjavier.tv Facebook Personal -   / tonyejavier Facebook Business -   / realtonyjavier ________________________________________ If you want to dominate your Real Estate Market with TV commercials, go here: https://www.ClaimMyMarket.com If you want to connect with me and my network, go to https://tonyjavier.com/connect If you want to check out Tony's Real Estate Resources and Vendors go to https://www.TonyJavier.com/resources ________________________________________ Tony is the owner of an INC 5000-rated Real Estate Investment Company. He has been featured in Bigger Pockets, Wholesaling INC, Steve Trang's Real Estate Disruptors, Joe Fairless' Best Ever Podcast, and many other top podcasts and platforms. When Tony is not working on his business, he enjoys flying his plane. You can see videos on that and how he uses airplanes to save money on taxes. Don't forget to like the video, comment, subscribe to my channel, and share this with a friend if I'm doing my job and providing value to you and your network. If I'm not doing my job please let me know in the comments how I can be better, your feedback is greatly appreciated. See you in the next video!

Tired of property management headaches? Discover this solution: The Triple Net Lease. If you're seeking tenant flexibility and freedom from property upkeep, this leasing technique could be helpful. In this episode, Randy explains how a triple net lease works and how it can simplify property management for commercial real estate investments. Join the Investor Club:  https://bit.ly/4dDGANB  This episode was originally uploaded on March 22, 2024.

The I Love CVille Show headlines: Parking Czar Mark Brown Buys Wawa Ground Lease 5th St Wawa Ground Lease Sells For $9.1M On 5/20/26 Taylor & Capshaw Bought Wawa Site For $3.5M On 12/21 Why Did Brown Buy? Analyze Taylor/Capshaw ROI… Where Does UVA Lacrosse Stand With Financing? Are UVA Olympic Sports In A Fragile Position W/ Future? Natalie Oschrin v Sally Duncan: Most Concerning Leader? Subscribe To JerryRatcliffe.com For $8 Per Month Read Viewer & Listener Comments Live On-Air The I Love CVille Show airs live Monday – Friday from 12:30 pm – 1:30 pm on The I Love CVille Network. Watch and listen to The I Love CVille Show on Facebook, Instagram, Twitter, LinkedIn, iTunes, Apple Podcast, YouTube, Spotify, Fountain, Amazon Music, Audible, Rumble and iLoveCVille.com.

Join The Creative Finance Playbook Coaching Program & Learn Directly from Jenn & Joe:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://creativefinanceplaybook.com/⁠⁠Most people think building a real estate portfolio while working a full-time job is impossible… but Abby & Ryan prove otherwise

Signing a commercial lease can feel like just another business task, but one missed detail can create expensive problems for years. Our favorite Bookkeeping Mensch, Paul Rosenblum, explains why commercial leases are major long-term financial decisions that can directly affect the survival and stability of a business. He walks through the real-world consequences of missing important details, including massive rent increases, responsibility for building problems, or even being forced to relocate after customers have become attached to a location. Careful attention to detail, along with hiring the right legal help during the process, can save small business owners major stress, disruption, and money in the long run.Send us Fan MailSupport the show

Saxum West's Nina Steiner on finding space for Hollywood studios, the LA office market, proof stacking, and why the riches are in the follow-up. The Crexi Podcast connects commercial real estate (CRE) professionals with industry insights built for smart decision-making. In each episode, we explore the latest trends, innovations and opportunities shaping commercial real estate, because we believe knowledge should move at the speed of ambition and every conversation should empower professionals to act with greater clarity and confidence.   Nina Steiner spent years in television production before finding her way into commercial real estate. Ten years later she is one of the only tenant reps in LA who specializes in entertainment: securing writers' rooms, production studio space, and flexible offices for showrunners, studios, and production companies. In this episode, Nina joins host Adam Siegel to talk about what makes entertainment real estate different, how she built her niche, why she chose proof stacking over cold calling, and what staying in the game looks like. Welcome to The Crexi Podcast Introducing Nina Steiner of Saxum West From TV production and internet new media to commercial real estate The Santa Monica meetup that started everything Getting licensed and choosing the tenant rep lane What surprised her most: rules, vetting, and learning on the fly Why having a previous career is an advantage in brokerage Storytelling as a trust-building tool How the stonecutter's creed changed her mindset Why she chose tenant rep over investment sales and landlord work Flexible workspace as a differentiator — volume where others saw small potatoes How the entertainment niche evolved without a business plan The showrunner rule: they want to be close to where they live Eight leases closed in Sherman Oaks in Q1 Why production people avoid managed flex: always in stealth mode What entertainment clients need: perimeter offices, bullpen, large conference room Working a UK writers' room placement across a 12-hour time difference Staying calm, offering options, and not deciding for the client Proof stacking: saying the same thing consistently even when there are crickets Be niche, narrow your market, know your lane Boutique versus big shop and why flexibility matters LA's entertainment real estate ebbs and flows with content cycles Amenities are now table stakes for landlords Lease terms getting shorter: startups taking 3 months, not 3 years Staying on the good side of both sides: communication first Act when a space hits 90% of the boxes — a LOI is non-binding Watching streaming as research for her next client LinkedIn, proof stacking, and posting even when nobody seems to be watching AI tools: Gamma for presentations, Claude for prompts and content Building referrals through warm calls and doing right by people The Vancouver referral: turning a cross-border deal into a handoff Advice for early-career brokers: interview tenured brokers, pick one lane The thrill of the hunt: what still gets her up in the morning The 10-minute walk to the beach and why balance matters Half a commission beats no commission     About Nina Steiner: Nina Steiner has over 10 years of experience as a commercial real estate tenant representative in Los Angeles, specializing in office and retail leasing. Her unique background as a former television line producer gives her an edge in understanding the entertainment industry's specific needs, from securing writers' rooms to finding the perfect space for production studios. Nina focuses on providing customized solutions that fit each client's long-term business objectives, whether it's in traditional leasing or managed flexible office spaces around the globe. Nina approaches each client with empathy, putting herself in their shoes to understand their challenges and goals. Her niche expertise in finding creative spaces for Hollywood studios sets her apart, while her deep knowledge of the LA market ensures her clients get the best possible deals. Through regular social media updates and educational content, she keeps tenants informed about market trends and real estate opportunities. Nina is a trusted advisor for businesses looking to expand or relocate in Los Angeles. For show notes, past guests, and more CRE content, please check out Crexi's blog.Looking to stay ahead in commercial real estate? Visit Crexi to explore properties, analyze markets, and connect with opportunities nationwide. Follow Crexi:https://www.crexi.com/​ https://www.crexi.com/instagram​ https://www.crexi.com/facebook​ https://www.crexi.com/twitter​ https://www.crexi.com/linkedin​ https://www.youtube.com/crexi About Crexi:Crexi is reimagining commercial real estate with an AI-powered platform built to deliver smarter, more efficient solutions at every stage of the deal lifecycle. From real-time data and market insights with Crexi Intelligence, to targeted property marketing and seamless deal management through Crexi PRO, and a transparent, time-bound bidding experience with Crexi Auction— Crexi enables users to evaluate opportunities, maximize exposure, and close with speed and confidence. To date, Crexi has subsidized over $2.74 trillion in property value, 26 billion square feet listed, and supports a growing community of more than 23 million yearly users.

Senior living is no longer a niche investment; it's becoming one of the biggest demographic opportunities of the next two decades. In this episode, Jerry Vinci breaks down why the "silver tsunami" is creating massive demand for senior housing, assisted living, and memory care communities. From occupancy growth and operational challenges to lead-generation systems and investment due diligence, Jerry reveals what separates thriving senior-living operators from struggling ones. Listen now to learn why this asset class is attracting serious attention from investors nationwide.   Key Takeaways To Listen For How demographic shifts are driving sustained need for senior living communities Overlooked gaps where senior housing communities lose revenue Ways reliance on referral agencies can quietly erode your bottom line Why robust marketing-to-move‑in systems are the engine of occupancy gains How operator execution quality can make or break a senior housing deal   Resources/Links Mentioned In This Episode Becoming a Category of One by Joe Calloway | Kindle, Paperback, and Hardcover A Place for Mom Caring    About Jerry Vinci Jerry Vinci is the founder and CEO of CCR Growth, a marketing and growth agency dedicated exclusively to the senior living industry. With more than 20 years of experience in marketing, demand generation, and occupancy growth, Jerry helps senior living operators build scalable systems that generate qualified leads, improve move-ins, and create more predictable growth. He is also the host of the From Leads to Leases podcast, where he speaks with industry leaders about senior living marketing, operations, sales strategy, and the future of occupancy growth. Known for his direct, systems-driven approach, Jerry focuses on aligning marketing, sales, and operations to help communities grow sustainably and serve families more effectively.   Connect with Jerry Website: CCR Growth  LinkedIn:  Jerry Vinci    Connect With Us If you're looking to invest your hard-earned money into cash-flowing, value-add assets, reach out to us at https://bobocapitalventures.com/.   Follow Keith's social media pages LinkedIn: Keith Borie Investor Club: Secret Passive Cashflow Investors Club Facebook: Keith Borie X: @BoboLlc80554  

Lisa Copland is Managing Director and Founder at Presynct, an Australian consultancy that helps organizations with workplace strategy, transition, and portfolio decision‑making. Mike Petrusky asks Lisa why she believes that successful workplace transformation involves aligning business strategy, workplace experience, spatial design, technology, and change management as interconnected elements. They explore how workplace design and portfolio decisions are most effective when integrated with an understanding of how people work and broader organizational goals. Lisa says that innovative workplace solutions often come from diverse perspectives and a willingness to challenge industry norms, so she encourages technology integration and using AI to dynamically optimize space allocation by grouping teams based on actual attendance and work patterns, moving away from static floor plans. Optimizing existing space usage via technology and behavioral change can be a valuable step before committing to changes in property portfolios, so Mike and Lisa offer the practical advice and inspiration you will need to be a Workplace Innovator in your organization! Connect with Lisa on LinkedIn: https://www.linkedin.com/in/lisa-copland-99601312/ Read the article discussed called "Reframing the Workplace: How strategy, technology, and human behavior are coming back into sync": https://eptura.com/discover-more/blog/reframing-the-workplace/ Learn more about Presynct: https://presynct.com.au/ Watch the podcast on YouTube: https://www.youtube.com/playlist?list=PLSkmmkVFvM4H3pwnlU2AuqynuRDpvnh4J Discover free resources and explore past interviews at: https://eptura.com/discover-more/podcasts/workplace-innovator/ Learn more about Eptura™: https://eptura.com/ Connect with Mike on LinkedIn: https://www.linkedin.com/in/mikepetrusky/  

Looking for a good quail lease? Aren't we all! Join Dr. Dale and his guests Steve Snell and Dr. Ryan O'Shaughnessy as they share their experiences with this ongoing (and elusive) task.

Everyone fights over the rent. And every operator moves it about five percent. Meanwhile, the other 30 pages of the lease go untouched. In this episode, Kyle breaks down the five terms that actually determine whether your restaurant location is profitable.If you're about to sign a lease, or you already signed one without negotiating these, this is the episodeQuestions This Episode AnswersWhat should a restaurant operator negotiate in a lease besides the rent?How does a tenant improvement allowance work for restaurants?When should rent commencement start on a restaurant lease?What is an exclusive use clause and how do I protect my restaurant concept?Can I assign my restaurant lease if I want to sell?What is a personal guarantee burn-off in a commercial lease?How do I negotiate a restaurant lease as a first-time operator?Kyle Inserra is a commercial real estate broker and founder of 10Rep, where he serves as a fractional Director of Real Estate for restaurant brands across the country. With 15 years as a chef and restaurant owner and a decade in CRE, Kyle helps operators and franchisees make smarter real estate decisions.Free ToolsRestaurant Real Estate Profitability Calculator: ⁠https://calculator-app-softmind-solutions-projects.vercel.app/⁠Lease Review: ⁠https://stan.store/KyleInserra/p/lease-review⁠LOI / Pre-Signing Review: ⁠https://stan.store/KyleInserra/p/presigning-site-loilease-review⁠Where to Find Kyle & 10RepEmail: kyle@10rep.coInstagram: @kyleinserraLinkedIn: Kyle InserraWebsite: www.10rep.co

Building a lease agreement is one thing. Enforcing it is where many landlords get uncomfortable. In this episode, Wayne and Gabby answer landlord and tenant questions about enforcing lease agreements, dealing with tenant disputes, and understanding the process when a tenancy starts going sideways. They discuss how Alberta's Residential Tenancy Dispute Resolution Service works, what happens if a tenant files a claim against a landlord, and what evidence landlords should prepare when responding to a dispute. Wayne and Gabby also talk about what happens when a tenant does not move out at the end of a fixed-term lease, why landlords need to follow the legal process, and why documentation matters so much. They also cover one of the most common landlord frustrations: tenants trying to use their security deposit as last month's rent. This episode is a practical conversation about running your rental property like a real business. It covers lease enforcement, documentation, tenant screening, RTDRS claims, security deposits, eviction notices, and the systems landlords need to reduce risk. If you own rental properties or are planning to become a landlord, this episode will help you understand how to enforce your lease with confidence, professionalism, and proper documentation. What You'll Learn in This Episode Why building a lease agreement is only the first step Why enforcing the lease is where landlords need confidence How to be firm without being unreasonable Why landlords should understand the Residential Tenancies Act What the RTDRS is and how it works in Alberta What happens when a tenant files a claim against a landlord Why documentation matters in every landlord and tenant dispute How to prepare evidence for an RTDRS hearing Why timelines, written communication, and records are so important What happens if a tenant does not move out at the end of a fixed-term lease Why landlords cannot physically remove tenants themselves When a landlord may need an order and a bailiff Why tenants technically cannot use the security deposit as last month's rent Why this situation is still hard to prevent in real life Why tenant screening matters long before problems happen Why strong systems protect your rental property business Why Wayne believes many landlord problems come from not knowing the rules Why Alberta remains one of the strongest provinces for landlords and investors Upcoming Events Edmonton Garden Suites 101 June 12, 2026 Edmonton, Alberta www.reimasters.ca/edmontongardensuites101 REI Masters Edmonton Real Estate Investing Bus Tour August 22, 2026 www.reimasters.ca/edmontonbustour About Your Hosts Wayne & Gabby Hillier are full-time real estate investors and real estate investing coaches based in Edmonton, Alberta, Canada. Through their REI Masters Mentorship Program, they help Canadians build long-term wealth using rental properties, BRRRRs, flips, joint ventures, wholesaling, seller financing, rent-to-own, garden suites, and creative real estate strategies. The Canadian Real Estate Investing Morning Show is a daily podcast focused on helping Canadian investors build cash flow, scale their portfolios, and invest with confidence. Resources & Contact Learn about the REI Masters Mentorship Program: www.reimasters.ca Bookkeeping & tax help for real estate investors: www.finngo.com/rei Get Wayne's book: The 5% Rule™ – A Real Estate Cash Flow Test for Canadian Investors https://a.co/d/jdZaBXM Submit a question or connect with us: info@reimorningshow.com Thanks to Our Sponsors Calvin Realty – Edmonton Investor-Focused Realtor calvinrealty.ca Finngo Bookkeeping & Tax – For Investors, By Investors www.finngo.com/rei Kirkwood & Brennan Mortgage Group keaton@kbmortgages.ca

After seven episodes covering the lifecycle of a commercial property — from lettings and rent reviews through to arrears, lease renewals and dilapidations — this final episode answers listener questions based on real-world situations.This episode focuses on the commercial realities behind investment decisions, lease negotiations, tenant covenant strength, and the operational side of owning commercial property.Commercial property can create exceptional long-term wealth and income — but it is not passive.It is a constant process of:negotiationstrategyproblem solvingand decision-makingAnd often, the most important work happens quietly in the background.Thank you to everyone who submitted questions for this series.If there's a topic you'd like covered in future podcast episodes, feel free to get in touch.

A strong lease agreement sets the foundation for your rental property business. In this episode, Wayne and Gabby break down how landlords can think about building a lease agreement that is clear, practical, and easy for tenants to understand. They explain why a lease agreement is not just about legal protection. It also helps set expectations, clarify responsibilities, document what both sides agreed to, and support the systems you use to manage your rental properties. Wayne and Gabby discuss why landlords should start with a proper template, make sure it follows provincial landlord and tenant laws, and then customize it based on their property, systems, and real-world experience. They also talk about communication rules, smoking, cannabis, pets, guests, parking, maintenance responsibilities, inspections, cleanliness expectations, and why a lease should be simple enough that tenants actually read and understand it. If you own rental properties, are preparing to rent out your first unit, or want to improve your landlording systems, this episode will help you understand what goes into a strong lease agreement. What You'll Learn in This Episode Why a lease agreement sets the foundation for your rental property business Why every landlord needs a clear written lease agreement Why a lease agreement should support provincial landlord and tenant laws Why you should start with a template instead of building from scratch Why your lease should be simple enough for tenants to understand Why legal language is not always better Why tenants need to understand their responsibilities before they move in Why communication rules are one of the most important parts of your system Why Wayne and Gabby prefer written communication with tenants Why documentation matters if a tenancy ever goes bad Why a lease agreement should support your property management systems What clauses landlords may want to consider adding Why smoking, cannabis, guests, pets, parking, and noise should be addressed Why multi-unit properties may require clearer expectations Why maintenance responsibilities should be outlined clearly Why inspections and documentation help protect your investment Why a good lease agreement is only one part of a larger landlord system About Your Hosts Wayne & Gabby Hillier are full-time real estate investors and real estate investing coaches based in Edmonton, Alberta, Canada. Through their REI Masters Mentorship Program, they help Canadians build long-term wealth using rental properties, BRRRRs, flips, joint ventures, wholesaling, seller financing, rent-to-own, garden suites, and creative real estate strategies. The Canadian Real Estate Investing Morning Show is a daily podcast focused on helping Canadian investors build cash flow, scale their portfolios, and invest with confidence. Resources & Contact Edmonton Garden Suites 101: www.reimasters.ca/edmontongardensuites101 Learn about the REI Masters Mentorship Program: www.reimasters.ca Bookkeeping & tax help for real estate investors: www.finngo.com/rei Get Wayne's book: The 5% Rule™ – A Real Estate Cash Flow Test for Canadian Investors https://a.co/d/jdZaBXM Submit a question or connect with us: info@reimorningshow.com Thanks to Our Sponsors Calvin Realty – Edmonton Investor-Focused Realtor calvinrealty.ca Finngo Bookkeeping & Tax – For Investors, By Investors www.finngo.com/rei Kirkwood & Brennan Mortgage Group keaton@kbmortgages.ca

Visma-Lease a Bike had vandaag een missie: Jonas Vingegaard de ritzege het het roze bezorgen. En dat lukte. De Nederlandse ploeg zorgde de hele dag dat het verschil met de vluchters klein bleef en sloeg op de slotklim toe. Helaas voor de kopgroep met drie Nederlanders, onder wie Wout Poels. In deze aflevering van In Het Wiel bespreekt Niek Goedvolk de masterclass van Visma met Roxane Knetemann en wielerverslaggever Daniël Dwarswaard. Was dit de perfecte teamprestatie? We delen een shout-out uit aan Tim Rex en genoten vooral van de bekken die de Belg onderweg af en toe trok. En hoe goed was Davide Piganzoli? De Italiaan staat nu in de pikorde zelfs boven Sepp Kuss en is de laatste man in de trein voor Vingegaard. Wat is het plan van Visma met hem? Thymen Arensman zal iets meer dan deze rit hebben verwacht. De Nederlander verloor wat tijd op zijn concurrenten, maar doet nog volop mee in de strijd om het podium. Wie moet hij vrezen in de laatste week? We bespreken het in een nieuwe In Het Wiel. Luisteren maar!See omnystudio.com/listener for privacy information.

Follow, Like, Comment & Subscribe! #dayones Discount Codes Here: linktr.ee/latenitewnate​ Another week where we discuss the latest mess like Landlords, need for speed and so much more! Give it a listen and tell us what you think!

What if leasing an asset is actually more dangerous than buying it outright?In this episode of Corporate Finance Explained, we break down one of the most important decisions in corporate finance: lease vs. buy. On the surface, it looks like a simple math problem. But underneath, it becomes a strategic decision that shapes cash flow, tax strategy, operational flexibility, balance sheet risk, and even long-term survival.We explore how companies evaluate capital allocation decisions, why the time value of money completely changes the analysis, and how modern accounting rules transformed leasing from an off-balance-sheet shortcut into a visible financial liability.

Chapters 00:00 Introduction and AI Tool Announcement 01:51 User Experiences with GPT-5 04:35 Limitations of Current AI Models 07:37 Introducing the Unstoppable Bot 09:54 Exploring Domain Name Ideation 12:31 Mining for Domain Names 15:06 The Role of AI in Domain Selection 17:39 Strategies for Effective Domain Registration 20:21 Future of AI in Domain Investing 28:25 The Wild West of Reseller Markets 29:48 Challenges in Wholesale Marketplaces 32:00 Incentives and Commission Structures 34:41 Building a Better Marketplace for Domainers 38:10 The Future of Domain Transactions 39:12 Sales Trends and Market Insights 42:56 Strategies for Acquiring Domains 44:28 Improving User Experience on Marketplaces 47:59 The Role of Commissions in Domain Sales 52:34 Navigating the Competition in Domain Registrars 58:04 The Evolution of Domain Products 01:00:09 Spaceship vs. Afternik: A Comparative Analysis 01:03:21 Challenges in Domain Pricing and Management 01:06:41 The Role of Lease-to-Own in Domain Sales 01:09:57 Diversification in Domain Portfolios 01:12:42 Understanding Market Dynamics and Sales Strategies 01:16:00 The Impact of Brand Trust on Domain Sales 01:19:08 Mental Fortitude in Domain Investing 01:22:24 The Future of Domain Marketplaces Check out https://unstoppabledomains.com

The Moneywise Radio Show and Podcast Wednesday, May 20th BE MONEYWISE. Moneywise Wealth Management I "The Moneywise Radio Show & Podcast" call: 661-847-1000 text in anytime: 661-396-1000 website: www.MoneywiseGuys.com facebook: Moneywise_Wealth_Management LinkedIn: Moneywise_Wealth_Management The opinions voiced in this podcast are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.

Welcome to Omni Talk's Retail Daily Minute, sponsored by Duvo and Mirakl.In today's Retail Daily Minute, Omni Talk's Chris Walton discusses:Shein acquires Everlane in a reported $100 million deal, ending a prolonged debt crisis for the transparency-focused DTC brand, and raising major questions about what Shein does with it next.Boot Barn wraps a record fiscal 2026 with net sales up 18.7% to $538.8 million, same-store sales up 6.1%, and 80 new stores opened, while setting its sights on a long-term goal of 1,200 U.S. locations.Sprouts Farmers Market signs its first Ohio lease in Columbus, targeting a 2028 opening and marking the specialty grocer's entry into its 26th state.The Retail Daily Minute has been rocketing up the Feedspot charts, so stay informed with Omni Talk's Retail Daily Minute, your source for the latest and most important retail insights.

The Soviet Union used Lend-Lease to "plunder" American technology, including entire Ford factories and suitcases of blueprints guarded by NKVD agents. Harry Hopkins personally intervened to facilitate the shipment of specialized chemicals and enriched uranium to the USSR. Sean McMeekin notes that while some officials like Harry Dexter Whitewere identified as NKVD agents, Hopkins acted as a devoted "agent of influence," routinely overruling ambassadors like Averell Harriman when they attempted to exert leverage over these transfers. Hopkins ensured that the flow of vital resources remained unconditional, viewing Stalin's interests as his own and outmaneuvering anyone who raised concerns. (7/8)UNDATED BAKU

Send us Fan MailMost landlords don't think twice when a teenager has been living in their rental for years. But the moment that kid turns 18, something quietly shifts — and if you're not paying attention, it can cost you.In this Shorty episode of the Your Landlord Resource Podcast, Kevin and I dig into one of those landlord blind spots that doesn't announce itself until something goes wrong. We're talking about what actually happens — legally and practically — when a minor living in your rental unit becomes an adult, and why doing nothing about it is one of the riskiest moves you can make as a self-managing landlord.Here's what surprises most people: screening an 18-year-old occupant has nothing to do with income. You're not evaluating whether they can pay rent — their parent is still responsible for that. What you are doing is finding out if this adult, who now has zero legal obligation to you, has any background history you should know about before letting the situation continue unchecked.We share two real stories from our own experience — including one from our own portfolio that, honestly, we're still a little embarrassed about — and walk through the difference between adding a young adult as a full co-tenant versus using an adult occupant addendum, and why that distinction matters more than most landlords realize. We also talk through what happens when something catastrophic occurs with the primary leaseholder, and why having the right lease language in place before that birthday arrives can save everyone from an impossible situation.If you have a tenant with a teenager living in your rental — or you're drafting a new lease and kids are part of the household — this one is for you.Connect with Us: 

In 1941, the Lend-Lease Act (HR 1776) effectively aligns America's industrial future with Britain's survival. Rooseveltframes this as a hard-headed business deal, while covertly facilitating British propaganda led by William Stephenson to sway American sentiment. FDR even presents a likely forged map of Nazi designs on Latin America to incite fear among the public. Lindbergh argues that such aid supports British imperialism rather than democracy, specifically citing India. He maintains that every step away from neutrality is a calculated move by the President toward inevitable military intervention. (5/8)1936

Kris Krohn shares his 25-year journey in real estate investing, focusing on strategies for new investors, lease options, and how to achieve exponential returns. Learn how to leverage market trends, avoid common pitfalls, and build a sustainable real estate portfolio for retirement.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true 'white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a "mini-mastermind" with Mike and his private clients on an upcoming "Retreat", either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas "Big H Ranch"? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

Retail leasing could be entering a completely different era of speed.Anyone who has worked on retail leases knows the process can feel endless.Versions flying back and forth.Redlines buried in email chains.Hours spent drafting language that's been negotiated a hundred times before.And somehow, despite all the technology in the world, a huge part of the leasing process still feels manual.David Saltman came back on the podcast to talk about why that's finally starting to change.As CEO of LeasePilot, David has spent years focused on one of the least glamorous but most important parts of retail real estate operations: getting leases done faster, cleaner, and with less friction. What started as an automation platform is now evolving alongside AI, and the conversation gets into where the industry may actually be headed next.Not hypothetically.Practically.Chris and David discuss the real operational pain points behind lease negotiations, why institutional knowledge trapped in PDFs and inboxes slows companies down, and how AI could eventually help legal teams, landlords, and retailers make smarter decisions before mistakes happen.The bigger takeaway is that retail real estate may be entering a new operational era.For decades, leasing teams accepted delays, repetitive drafting, and fragmented information as part of the business. But once companies begin organizing lease data intelligently and automating repetitive work, the speed of decision-making changes.And in this business, speed matters.This conversation isn't really about replacing people. It's about removing friction from one of the most frustrating processes in commercial real estate.What You'll HearWhy AI alone won't fix broken leasing workflowsHow lease negotiations could become largely automatedThe operational cost of slow lease draftingWhy retailers are adopting legal automation faster nowWhat happens when lease data becomes actionable intelligence?Chapters00:01 — Meet David SaltmanDavid introduces LeasePilot and explains how the platform approaches lease automation.01:05 — How lease automation actually worksA breakdown of the legal logic, workflows, and operational structure behind LeasePilot's system.03:10 — Automation vs. AIDavid explains why LeasePilot historically focused on automation; and why AI is changing the conversation.06:04 — The rise of the “intelligence layer”How AI could help identify lease conflicts, exclusives, co-tenancy risks, and negotiation issues in real time.07:48 — Will LeasePilot become an AI company?A candid discussion about where AI fits into the future of leasing technology.09:30 — Beyond leasesWhy contract automation is expanding into amendments, estoppels, SNDAs, and other real estate documents.12:16 — The time savings are realHow lease drafting timelines are shrinking from hours to minutes; and why speed changes negotiations.14:04 — Why tenants are adopting LeasePilotDavid explains the growing demand from retailers and tenant-side legal teams.18:08 — The AI pressure facing every proptech companyChris challenges David on whether non-AI software can still compete in today's market.20:17 — What AI is already doing inside LeasePilotFrom LOI extraction to automated abstracts, David shares what's already live today.21:26 — The future of AI lease negotiationsChris and David explore the possibility of AI-driven negotiation strategy and autonomous dealmaking.25:10 — The untapped value hidden in leasing dataWhy the next major opportunity may be using lease intelligence to improve tenant mix and center performance.26:00 — Final thoughts and where to find LeasePilotDavid shares why simplifying leasing workflows still matters, even in an AI-driven future.

Jonathan Pong joins Brandon Sedloff to discuss the evolution of Realty Income from one of the original net lease REITs into a global real estate platform spanning public and private capital markets. Jonathan shares how Realty Income scaled from a roughly $15 billion enterprise value company into a global platform with more than 15,500 properties across the U.S. and Europe, while maintaining its identity as “The Monthly Dividend Company.” The conversation explores the growing institutional appetite for net lease real estate, why private capital is increasingly allocating toward durable income-oriented strategies, and how Realty Income is positioning itself through open-end funds and large-scale joint ventures with firms like GIC, Apollo, and Blackstone. They also discuss Jonathan's personal journey from growing up in a real estate family in Honolulu to becoming CFO of one of the largest REITs in the world. Along the way, Jonathan explains how Realty Income thinks about risk management, data advantages, tenant diversification, and the role AI could eventually play inside large real estate organizations. Brandon and Jonathan unpack why “boring” cash flows are becoming increasingly attractive in today's market environment and what institutional investors still misunderstand about the net lease sector. They discuss: • How Realty Income scaled into a $90 billion enterprise value platform with over 15,500 properties globally • Why institutional investors are increasing allocations toward net lease and income-oriented strategies • The launch of Realty Income's private capital business, including open-end funds and strategic JVs with GIC and Apollo • The misconceptions investors have about tenant credit risk and portfolio diversification in net lease • How Realty Income uses proprietary data and predictive analytics to drive underwriting and asset management decisions • Why build-to-suit industrial and selective data center investments are major areas of focus going forward • Jonathan's path from Hawaii to USC, Deloitte, Cornell, equity research, and ultimately becoming CFO of Realty Income • How large-scale relationships and repeatable execution create a competitive advantage in modern real estate markets This episode is a deep dive into how one of the world's largest net lease platforms is adapting to the convergence of public markets, private capital, and long-duration real estate investing. Links: Jonathan on LinkedIn - https://www.linkedin.com/in/jonathanpong/ Realty Income Corp. - https://www.realtyincome.com/ Juniper Square - https://www.junipersquare.com/ Brandon on LinkedIn - https://www.linkedin.com/in/brandonsedloff/ Topics: (00:00:00) - Intro (00:01:35) - Jonathan's background and career (00:16:28) - The state of Realty Income today (00:22:00) - The experience of Raising Private Capital (00:24:27) - Net Leases 101 (00:32:42) - The evolution toward private capital at Realty Income (00:35:59) - Competitive advantages (00:38:35) - How teams evolve as the market evolves (00:41:15) - The Realty Income portfolio (00:44:41) - How Realty's model differs from other competitors (00:47:08) - Greatest opportunities looking forward (00:50:36) - Themes Jonathan is seeing in the market

In 1941, Pamela met Averell Harriman, the American overseeing Lend-Lease, and immediately recognized his importance to British survival. Tasked with enlisting him to the British cause, she used her beauty and intelligence to "bewitch" him, turning the aloof statesman into a passionate advocate for UK aid. Pamela became Churchill's "secret weapon," gathering vital military intelligence and White House thinking from influential Americans like Harriman and CBS reporter Ed Murrow. She and Murrow shared a deep, passionate relationship, and she fed him information to shape American public opinion in favor of the European war effort. Simultaneously, she managed multiple high-profile liaisons with American generals and intelligence officers, maintaining these critical back-channels without causing scandal. Her work helped solidify the nascent Anglo-American alliance. She was so well-embedded in the military leadership that she knew the timing of the D-Day invasion before it was publicly announced. (3/8)1650 HOLLAND

As real estate values reset and cap rates widen, net lease is back in focus—but the approach has changed. Ron Kamdem and Hank D'Alessandro explain.Read more insights from Morgan Stanley.----- Transcript -----Ron Kamdem: Welcome to Thoughts on the Market. I'm Ron Kamdem, Head of U.S. REITs and Commercial Real Estate Research. Hank D'Alessandro: And I'm Hank D'Alessandro, Managing Director on Morgan Stanley's Real Estate Investing Team and Vice Chairman of Private Credit. Ron Kamdem: Today: a part of real estate that's changing fast and drawing fresh attention from investors. Net lease investing. It's Friday, May 8th at 10am in New York. You might not think you invest in net leases. But there's a good chance you do, especially if you have money in a pension fund or another income generating vehicle. Net leases are the kinds of long-term lease assets that can help generate steady, predictable income. They are no longer a sleepy corner of the real estate market. In fact, they're changing in some really interesting ways. Ron Kamdem: So, Hank, for listeners who know the term but may not know the structure, what exactly is net lease investing? And why does it tend to come up more often when markets get more uncertain? Hank D'Alessandro: At a high level, net lease investing is typically associated with long-term leases that can offer durable income streams; typically growing streams, which is why it's often seen as a more defensive part of real estate investing. We see that when investors are thinking more carefully about geopolitical risks, market volatility or say portfolio resilience, this durable cash flow derived from mission critical assets and long lease durations with fixed annual rent bumps can become especially attractive to investors. Also, with higher inflation likely, net leases are generally insulated from increases in expenses given these are the responsibility of tenants. But what's important today is the net lease is broader than many people realize, both in terms of the property types involved and the range of investors participating in the space. Ron Kamdem: Let's stay on that idea of a broader market for a moment, because one of the biggest shifts has been the growing role of private capital in the space. What are you seeing there and why does it matter? Hank D'Alessandro: Well, listen, Ron, there's no question. The role of private capital has grown substantially, including through joint ventures and public real estate vehicles. That matters because it tells you that the sector is attracting a wider range of investors than it has in the past, such as pension funds, insurance companies, sovereign wealth funds. And retail investors are increasingly investing either through traditional locked up funds or through semi-liquid funds. But it can also change the competitive landscape and can influence how capital gets allocated across the opportunity set. Thus, one's approach going forward from an analysis perspective will need to evolve. More broadly, it's a sign that net lease is being viewed as highly relevant in today's market, not just as a legacy category within real estate. Ron Kamdem: And that's an important distinction that you make right there, because not all investors are approaching these assets the same way. So, when private capital comes into the space, what separates their underwriting approach from another? And we hear all the time about private credit. How does that play into this? Hank D'Alessandro: Well, Ron, you know, as we discussed previously, the competitive landscape is changing and therefore underwriting is absolutely critical in this part of the cycle. And so, we believe underwriting both tenant credit, of course, is very important. But we equally analyze the real estate underwriting because we believe that real estate can be a real differentiator over time – both in terms of returns and risk profile. We think that strong real estate underwriting with strong tenant credit underwriting, both enhances returns over time and reduces risks. So, therefore, that matters a lot. We also believe that by focusing equally on the real estate underwriting, you get a fuller picture of the risk and value, especially as net lease expands into newer property types. It is an easy nuance to miss, but we believe this distinction is becoming much more important differentiator in how investors assess opportunities in the sector today. And I believe that the most successful managers will do a good job underwriting both tenant credit and real estate.So, Ron, for a long time, many investors thought of net lease primarily as a retail story. How much has that changed? Ron Kamdem: Well, that's changed quite a bit. If I take you back 20 to 30 years ago when you thought of net lease, you thought of a convenience store that's, you know, 5,000 to 10,000 square feet. But today, that opportunity has expanded well beyond retail and there's much more attention now on industrial assets. And even increasing discussions around areas like data centers. I'll give you an example. Realty income made its entry into the data center vertical in November 2023 with a $200 million build to suit JV. That shift matters because it shows net lease evolving alongside where demand and capital are moving. It also means the sector is becoming more connected to larger structural trends in the economy, rather than being viewed through one traditional lens. At the same time as the mix broadened, investors have to be selective because not every new category will have the same long-term profile that we're used to.So, as investors look at some of these newer areas, where do you see the best opportunities, Hank? And where would you be more cautious? Hank D'Alessandro: So first, opportunities. The industrial segment has clearly become a major area of focus. This sector benefits from growing e-commerce penetration fueled by AI, reshoring of manufacturing, and increased defense spending. The ability to acquire mission critical distribution centers in top tier logistics markets or advanced manufacturing assets in innovation clusters is particularly appealing in today's macro backdrop. Another area that we find very compelling is medical outpatient buildings where the aging demographics can support long-term demand. So, we have great conviction on both of those. Now, turning to area where we're more cautious. There's been a lot of attention on data centers, you know, as you previously mentioned. But that's an area where investors really need to think carefully about long-term durability. Questions around obsolescence, technological change and whether certain assets fit a true buy and hold strategy are very relevant and need to be considered carefully by investors. So, maybe to sum up, the opportunity set is definitely broadening, but selectivity in terms of location, asset type and asset specifications remain essential. So, Ron, the idea of linking property types back to long-term trends feels especially important right now. How do you connect this conversation to the key secular themes Morgan Stanley research is tracking this year. AI and tech diffusion. The future of energy, the multipolar world, and societal impacts. And can you offer a few examples? Ron Kamdem: There's a couple ways that net lease connects to these broader themes. The first, which is probably the most obvious, is technology diffusion and the future of energy comes through in areas such as datacenters, and that's been a key focus for public investors. When you think about societal change – that's relevant for sectors tied to demographics like medical outpatient buildings, where you know people go get different services. And multipolar world theme matters because deglobalization and geopolitical fragmentation. Or influencing how investors think about resilience, location, and portfolio construction, which is driving incremental demand for industrial real estate linked to supply chain shifts and defense spending. So, this is no longer just a sector evolving on its own, it's becoming more closely tied to these macro issues, shaping investment decisions more broadly. And once you widen the lens to that macro backdrop, the conversation naturally becomes more global. In fact, we saw realty income now generates 19 percent of rents across nine European countries with more than $15 billion invested since 2019. Given this, Hank, how should investors think about net lease and adjacent opportunities outside of the U.S.? Hank D'Alessandro: The global angle is clearly becoming more relevant. There's growing interest in Europe and the U.K. And one area that comes to mind in this context is retail parks, where rents have reset, yields are wider, and tenant resilience has improved. Thinking more broadly, international markets can give investors a wider set of ways to think about real estate opportunities tied to the same themes that we've discussed. And add to diversification, as macro drivers continue to diverge and geopolitical risks remain elevated. Even when structures or sector exposures differ from the U.S., which undoubtedly they will, the bigger point is that investors are increasingly valuing opportunities through a global lens. Ron Kamdem: So, if we pull all this together, what looks like a simple-income oriented category is actually becoming much more nuanced. As we wrap up, Hank, what's the main message you want investors to take away about net lease today? Hank D'Alessandro: You know, I believe the main takeaway is that net lease remains relevant because of its defensive qualities, and predictable contractual cash flows derived from long-term leases. But the story is becoming more nuanced, requiring a granular focus on the credit, and importantly, the underlying real estate. With real estate values down 20 to 25 percent from peak levels, replacement cost has elevated, which is keeping supply muted and net lease cap rates wide relative to the last 10 years. This is a very attractive entry point for investors. Private capital is playing a bigger role, no question. The asset mix is shifting beyond retail, towards areas like industrial. Investors are actively debating the long-term role of newer categories such as advanced manufacturing and data centers. There are selective opportunities to think more globally, which is exciting. Ron Kamdem: Great. That's very helpful. Hank, thanks for taking the time to talk. Hank D'Alessandro: Great speaking with you, Ron. Ron Kamdem: And thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen. And share the podcast with a friend or colleague today.