The Wealth Elevator Podcast: Real Estate, Taxes, Investing

📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubThe host interviews Chris Kleiman, Senior Vice President at Gulf Coast Western, to walk through the oil and gas lifecycle from leasing mineral rights to plugging and remediation. Kleiman explains how companies lease (not buy) minerals, negotiate royalties (often 18–25%), secure surface access and damages clauses, and rely on seismic, existing field data, and permitting to plan drilling. The discussion focuses on the shift from higher-risk vertical wells to capital-intensive horizontal drilling and multi-well pads, fracking stages, flowback, water recycling, production profiles (ramp, plateau, decline), and terms like IP and BOE. They cover ongoing operations (pumpers, monitoring, artificial lift over time), midstream purchase contracts at the meter, the importance of infrastructure, pricing dynamics, continuous drilling clauses, and why Kleiman prefers well-funded operators and proven fields for investors seeking IDC tax benefits and long-term monthly distributions.00:00 Oil Gas Lifecycle Intro00:47 Leasing Mineral Rights02:43 Royalties Easements Paydays04:00 Geology Seismic Planning04:54 Horizontal vs Vertical Drilling07:43 Pad Construction Costs10:34 Spud Drilling Frack Flowback11:57 Depths Water Table Basics13:18 Production Scale Flush Curve16:28 Investor Metrics IP BOE Logs18:46 Oil vs Gas Mix Sales19:54 AI Drives Gas Demand20:33 Infrastructure And Market Access21:27 Artificial Lift Basics22:34 Rig Crews And Field Life23:51 Monitoring Wells Daily25:20 Water Recycling And Pressure Decline26:09 Investor Reports And Payout Lag28:42 Selling Oil Midstream30:31 Plugging And Site Remediation31:03 Fracking Terms And Myths33:10 Oil Price Reality Check34:29 Continuous Drilling Leases35:33 Picking Safer Deals37:07 Why Oil Investing Works38:24 Final Wrap And ThanksConnect with me:LinkedIn: https://www.linkedin.com/in/lanekawaoka/Facebook: https://www.facebook.com/TheWealthElevatorInstagram: https://www.instagram.com/TheWealthElevatorLane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. Hosted on Acast. See acast.com/privacy for more information.

📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubA host interviews Gabe Hogan, a tax attorney and former IRS revenue agent, about how IRS audits work, why high-profile taxpayers are treated as examples to drive compliance, and why taxpayers—not preparers—are usually on the hook for penalties and interest. Hogan describes IRS bureaucracy, outdated systems, staffing declines, and increased hiring of non-tax personnel, plus the growing use of AI models that flag more returns amid a shrinking workforce. He explains how returns are graded with DIF scores, how agents and managers triage audit “stacks,” and why clear categorization and attaching substantiation (e.g., cost segregation reports) can reduce audit risk. They discuss common self-prep and CPA errors (TurboTax, misclassification, NIIT on business exits), documentation needs, audit escalation paths (agent, manager, Appeals, tax court), and strategies like the Augusta Rule when properly documented.00:00 Celebrity Audit Fear00:50 Wild Deduction Stories02:10 Meet Former IRS Insider03:36 From Bulls to Tax Law06:14 Credentials Alphabet Soup13:09 Taxpayer Liability Reality14:58 Why Not TurboTax18:24 Augusta Rule Done Right22:53 Breaking Up With Your CPA25:20 How Audits Get Picked27:13 DIF Scores Explained29:42 Stacks Managers and Backlogs33:59 Statutes and Audit Chess35:28 Audit Negotiation Tactics37:12 Audit Types And Escalation40:19 IRS Fear And Compliance42:14 Gray Area Tax Strategy44:45 Substantiation And Materiality51:23 Regional IRS Culture54:25 Politics And IRS Slowdown56:29 Guest Wrap And Contact57:14 Deal Desk Pitch01:00:11 Due Diligence Framework01:02:46 Final Call To ActionConnect with me:LinkedIn: https://www.linkedin.com/in/lanekawaoka/Facebook: https://www.facebook.com/TheWealthElevatorInstagram: https://www.instagram.com/TheWealthElevatorLane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. Hosted on Acast. See acast.com/privacy for more information.

📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubThe host interviews Robin Mills, founder/CEO of Qamar Energy and author of The Myth of the Oil Crisis, about oil and gas investing amid the Iran conflict and disruptions in the Strait of Hormuz. Mills argues the world has ample oil resources and explains how the US shale boom (enabled by horizontal drilling, fracking, and crude-by-rail) reversed decades of US production decline, while early environmental backlash was often exaggerated despite real methane and leakage issues. He outlines Venezuela’s collapse under Chávez/Maduro, subsequent US actions and sanctions changes, and how the Iran war has sharply reduced Hormuz flows from about 20 million bpd to far lower levels, partly offset by pipelines and China’s large strategic stockpiles. The discussion clarifies how OPEC/OPEC+ influences prices via production and spare capacity, why that leverage is constrained during the blockade, and reviews long-term demand threats from renewables and EVs, offset by petrochemicals and aviation, plus rising electricity needs for AI and renewed nuclear interest.00:00 Oil Investing and Iran01:03 Myth of Oil Scarcity02:44 Shale Boom Origins04:31 Fracking Breakthrough Timeline06:26 Majors vs Independents08:14 Fracking Environmental Backlash09:32 Venezuela Collapse and Comeback13:06 US Oil Policy Tightrope15:09 Iran War and Hormuz Blockade18:57 Global Price Shock and Winners20:12 Pipelines and What Comes Next22:07 Why Prices Stayed Contained23:27 Stalemate and Future Scenarios23:47 OPEC Price Myth24:16 OPEC Plus Explained26:43 Spare Capacity Basics28:25 US vs Saudi Flexibility30:37 China Oil Wildcard32:51 Investor Risks Volatility34:15 Renewables And EV Shift37:16 Future Oil Demand Drivers39:09 Nuclear Comeback SMRs43:00 Oil Outlook And WrapConnect with me:LinkedIn: https://www.linkedin.com/in/lanekawaoka/Facebook: https://www.facebook.com/TheWealthElevatorInstagram: https://www.instagram.com/TheWealthElevatorLane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. Hosted on Acast. See acast.com/privacy for more information.

📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubLane interviews economist Richard Duncan (author of The Dollar Crisis and The Money Revolution and publisher of Macro Watch) about how ending the gold standard in 1971 shifted capitalism into “creditism,” enabling massive US trade deficits, disinflation, falling rates, and explosive growth in debt and Fed balance sheet expansion that prevented depressions in 2008 and during COVID. Duncan contrasts post-2008 low inflation with post-COVID inflation driven by supply-chain blockages, and argues credit-driven liquidity has inflated asset valuations while accelerating AI breakthroughs and fueling China’s rise via persistent US deficits. They discuss the US–China AI and defense race, energy and nuclear power needs, and risks from higher inflation and rates amid stretched valuations. Duncan introduces “cognitism,” a coming system driven by exponentially expanding AI intelligence, and highlights sectors tied to AI, semiconductors, energy, data centers, robotics, and defense, plus key macro indicators to watch.00:00 Meet Richard Duncan00:44 Macro Watch Discount01:03 From Gold to Creditism05:09 Why Old Theories Fail06:28 Credit Growth and 200808:31 COVID QE and Inflation10:54 Debt Wealth and AI Boom14:00 China AI Arms Race17:12 Energy Nuclear and Chips22:07 Stretched Valuations Risks31:58 Cognitism Explained37:36 AI Skills and Sectors41:13 What to Watch Next47:40 Wrap Up and SubscribeConnect with me:LinkedIn: https://www.linkedin.com/in/lanekawaoka/Facebook: https://www.facebook.com/TheWealthElevatorInstagram: https://www.instagram.com/TheWealthElevatorLane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. Hosted on Acast. See acast.com/privacy for more information.

📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubThe speaker reviews real-life (anonymized) multifamily deal examples to help investors spot misleading underwriting and marketing tactics. Key topics include “manufactured” IRR boosts from aggressive refinance assumptions, unrealistic exit/reversion cap rates (and the difficulty LPs have validating prevailing market cap rates), and mismatches between large CapEx plans and modest rent-bump projections that may signal weak market fundamentals or hidden reserves. They discuss how cap rate compression can inflate paper returns despite being uncontrollable, why comparing discounts to 2021 pricing can be irrelevant, and how debt structure (fixed vs floating, term length, IO, extensions, prepayment penalties) affects refinance and exit risk. Additional red flags include preferred equity ahead of common equity, side-letter complications in the capital stack, and early distributions funded from reserves rather than operations, which can mask weak DSCR.00:00 Cap Rate Question Setup00:42 Market Shift Overview01:21 Manufactured IRR Tricks03:32 Reversion Cap Rate Games04:22 Finding Real Cap Rates07:34 Rent Bumps Vs CapEx09:35 Discount Hype Reality10:48 Cap Rate Cycle Bets11:58 Debt Structure Risks13:24 Stacking Red Flags14:54 Preferred Equity Ahead17:23 Return Of Capital Trap19:11 DSCR And Fake Cashflow20:28 Cap Compression Review21:53 AI Deal Checklist24:52 Capital Stack Exceptions26:25 Final Q And WrapConnect with me:LinkedIn: https://www.linkedin.com/in/lanekawaoka/Facebook: https://www.facebook.com/TheWealthElevatorInstagram: https://www.instagram.com/TheWealthElevatorLane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator. Hosted on Acast. See acast.com/privacy for more information.