The Academy Presents podcast

In this episode, Dylan Vaccaro demonstrates Deal Queue, his AI-powered underwriting platform that transforms the grueling 2-3 hour underwriting process into a streamlined 10-15 minute workflow. Through a live demonstration, Dylan shows how the tool parses rent rolls, T-12s, and offering memorandums from PDFs and Excel files, automatically populating custom financial models while flagging common seller manipulations like miscategorized expenses. Angel emphasizes that underwriting should be treated as a living business plan rather than just an LOI tool, while both discuss the critical importance of human verification—AI assists but never replaces the underwriter's judgment. The conversation covers conservative underwriting assumptions, the difference between T-1, T-3, and T-12 statements, and why calculating cap rates on total invested capital matters more than purchase price alone. [00:00 - 05:00] Introduction to Deal Queue How Deal Queue reduces underwriting from 2-3 hours to 10-15 minutes The platform extracts data and populates custom Excel models automatically Built-in models available for beginners learning multifamily underwriting [05:01 - 10:00] Live Platform Demonstration Begins Upload process for rent rolls, T-12s, and offering memorandums How the system handles both PDF and Excel formats seamlessly Pricing structure: $30/month for preset models, $175/month for custom integration [10:01 - 16:00] The Data Parsing Challenge Why manual data entry traditionally consumes hours of underwriting time The importance of organizing deal files in a centralized pipeline Angel's insight: underwriting is your business plan, not just an LOI tool [16:01 - 20:00] Verification and Expense Analysis How Deal Queue flags suspicious expense categorizations that inflate NOI Live example: identifying CapEx items misclassified as below-the-line expenses Why plumbing, utilities, and appliance repairs shouldn't be one-time expenses [20:01 - 24:00] Conservative Underwriting Principles Dylan's default assumptions: 5% vacancy and 2-3% annual growth rates Understanding T-1 vs. T-3 vs. T-12 financial statements for lending Why cap rates should be calculated on total invested capital, not just purchase price [24:01 - 25:15] The Human Element in AI Underwriting Angel's warning: always back-check AI outputs—no tool does everything Regional expertise and market knowledge remain irreplaceable How increased deal volume (6-7 daily vs. 1-2) improves acquisition probability Connect with Dylan: https://www.linkedin.com/in/dylan-vaccaro-4450b9140/ Deal Queue Website: dealq.ai Key Quotes: "Your underwriting is your business plan. It's just not always looked at that way." - Angel Williams     Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention you're part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

What happens when NYC properties drop 30-50% in value and investors can buy buildings for less than the debt—and how do you know when a construction boom signals the market top? In this continuation episode, Dylan Vaccaro reveals how regulatory pressure and investor flight have created unprecedented opportunities in New York City real estate. He explains his "crane theory" for identifying market tops—when you see maximum construction activity in an established city, it's usually time to stop building and start preparing for the downturn. Dylan shares insights about buying properties in bank workout situations, why rent stabilization makes NYC attractive for contrarian investors, and discusses the role of luck versus skill in generational wealth building. The conversation shifts to Angel's mobile home community development in Waco, exploring exit strategies at various completion stages, before concluding with Dylan's AI-powered solution that reduces underwriting time from 2-3 hours to 10-15 minutes. [00:01 - 07:00] NYC Market Opportunities in Distressed Times How regulatory pressure drove prices down 30-50% creating buying opportunities Why Dylan buys most NYC deals under the debt in bank workout situations The contrarian thesis: when everyone zigs, you should zag [07:01 - 12:00] Timing, Luck, and Generational Wealth Why "the worst developers who time the market right will seem like geniuses" How "the harder I work, the luckier I get" creates opportunities The importance of staying power through economic cycles [12:01 - 18:00] The Crane Theory and Development Timing How maximum crane activity in established cities signals market tops Why building through recessions can position you perfectly for recovery The 2008 lesson: when building becomes too obvious, reassess [18:01 - 24:00] Mobile Home Community Development Angel's 104-pad Waco project near Amazon facility and top school district Multiple exit strategies: sell at drawings, roadways, or fully developed Why resident-owned homes create 10+ year tenancies vs. 18-month park-owned turnover [24:01 - 26:30] AI-Powered Underwriting Solution How DealQueue reduces underwriting time from 2-3 hours to 10-15 minutes Solving the data parsing pain point from PDFs, Excel, and handwritten notes Why this problem resonates "across the board" from beginners to professionals Connect with Dylan: https://www.linkedin.com/in/dylan-vaccaro-4450b9140/ Key Quotes:  "The worst developers who time the market right and get lucky in an upscale market will seem like geniuses. But even the best developers in a downward market will seem like a fool." - Dylan Vaccaro Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

What happens when a building bought for $10,000 per door gets lost to foreclosure, returned by the bank for free, and eventually becomes worth $1.2 million per unit—and what does that teach us about staying power? In this episode, Angel Williams sits down with Dylan Vaccaro, a New York City multifamily investor who works alongside self-made real estate billionaire Francis Greenberger at Time Equities. Dylan shares his unconventional journey from architecture school to USC's real estate program, through lending and capital raising, to his current role managing acquisitions and operations for a $7+ billion portfolio. He reveals the three cardinal investing principles he learned from Greenberger: control your purchase price, control who makes decisions, and maintain staying power. This conversation explores why Time Equities never sells, how neighborhood gentrification creates massive wealth, and why positive cash flow from day one has returned to the NYC market for the first time in years. [00:01 - 08:00] From Architecture to Real Estate Operations Why Dylan switched from architecture after realizing "the pay of an artist" with engineering skills The three essential syndicator skills: finding deals, raising capital, understanding capital structure How working in BTR lending and private equity prepared him for operations [08:01 - 16:00] The Three Cardinal Principles of Real Estate Investing Why purchase price determines everything about a deal's success potential How control over decision-making separates winning deals from disasters The Clinton Hill story: $12M building lost to foreclosure, returned for free, now worth $1.8B [16:01 - 22:00] Why Buy and Hold Beats Value-Add Flips How time fixes most mistakes in real estate investing Why exit cap rate projections are "always gonna be wrong" The tax inefficiency of forced 1031 exchanges under time pressure [22:01 - 26:25] NYC Market Opportunities and Neighborhood Intelligence Why every deal Dylan underwrites now cash flows from day one (first time in 2-3 years) How Upper East Side demographics shifted from age 65-70 to 35-40 in just two years The art and science of understanding neighborhood gentrification patterns Connect with Dylan: https://www.linkedin.com/in/dylan-vaccaro-4450b9140/ Key Quotes: "The only one thing true about your proforma is it's always gonna be wrong." - Dylan Vaccaro Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

What's the fundamental difference between losing $50,000 as an LP versus potentially losing much more as a GP when deals go sideways—and how do you manage the stress that comes with higher stakes? In this final episode with Sean, Angel and Sean dive into the psychological and financial realities of real estate investing at different levels. Sean explains the "lizard brain" reactions that cause panic over non-life-threatening situations and shares wisdom from habit-formation books like Atomic Habits. They discuss the critical risk difference between limited and general partners, why higher returns always come with higher risks, and how Angel's transparency during crisis moments provides rare GP insights to her LP investors. This conversation covers practical stress management, the value of continuous learning, and why the LP-to-GP pathway provides essential preparation for the increased responsibilities and liabilities of active investing. [00:01 - 07:00] The Lizard Brain and Stress Management How 2-million-year-old brain reactions cause unnecessary panic in modern investing Bobby Castro's concept of "non-refundable minutes" and choosing what deserves worry Using habit formation techniques to retrain automatic stress responses [07:01 - 12:00] Learning from LP Experience as Preparation for GP Role How Angel draws on her passive investment experiences during active challenges The value of Charles Lame's meticulous record-keeping as a "serial passive investor" Why experienced LPs represent an underutilized resource for new GPs [12:01 - 17:00] The Hidden Reality of GP Risk Why GPs can lose far more than their initial investment when deals go wrong The fundamental risk difference: LPs lose their investment, GPs face unlimited liability Why GP compensation reflects the additional risk and responsibility they assume [17:01 - 21:00] Transparency and Community Building How Angel's openness about struggles provides rare GP education to LP investors The importance of contingency planning and realistic risk assessment Sean's approach to sharing both successful and challenging investment experiences Connect with Sean: Website: twtmultifamily.com/book-a-call Upcoming Event: AIM Denton Meetup - Monday, October 15th at Houlihan's Panel featuring experienced GP, new GP, and veteran passive investor Charles Lame Key Quotes:  "If there's more return, there's gonna be more risk... you always have to tell yourself, if I'm getting a much bigger return, there's a much bigger risk." - Sean Griffith Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

What happens when you stop trying to do everything yourself and start focusing on your superpower while building a team around your weaknesses? In this continuation episode, Sean shares how he and his wife transitioned from their kitchen table retirement crisis to successfully closing multiple general partnership deals within months. He explains the power of persistence, finding the right coaching, and building complementary partnerships where each person focuses on their strengths. Angel reveals her approach to being upfront about not doing underwriting while excelling at investor relationships, and how this honesty actually builds more trust than trying to fake expertise. This conversation explores team dynamics, the importance of great communication (highlighting standout sponsors), and practical wisdom about prioritization and managing stress in high-pressure deal situations. [00:01 - 05:00] The Power of Persistence and Coaching Why daily practice and persistence are essential for mastering real estate skills How coaching helps you go "faster, sooner" and avoid expensive mistakes The kitchen table moment that led Sean from passive investor to general partner [05:01 - 10:00] Finding Your Superpower and Being Honest About Weaknesses Angel's approach: "Underwriting is not my thing, but I can get you in touch with the guy who it is" How honesty about limitations builds more investor trust than fake expertise Sean's wife as the organizational backbone keeping him on track [10:01 - 16:00] Building Complementary Teams and Extended Networks Why you need team members who can diplomatically handle difficult conversations How different roles (asset managers, underwriters, brokers) speak different "languages" The importance of having liquidity on the team for upfront expenses and emergencies [16:01 - 21:00] Communication Excellence and Prioritization Why Elaine Viegas, Daniel Canterbury, and Don Naim excel at investor communication Learning prioritization by studying how great sponsors handle crises Sean's grandmother's wisdom: worry about what you can control, pray about what you can't Connect with Sean Griffith: https://www.linkedin.com/in/shawn-griffith/ Key Quotes:  "We react to things like it's a life or death situation. And it's usually not... how much stuff these days is really life or death?" - Angel Williams Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

What does it take to go from writing your first passive investment check to becoming a general partner with 3,500 doors—and what due diligence mistakes do most new investors make? In this episode, Angel Williams sits down with Sean Griffith, who shares his 10+ year journey from passive investor to general partner. Sean Griffith reveals how his first deal in Carrollton, Texas spoiled him with 12-14% cash-on-cash returns when 10% was the minimum standard. He explains the critical importance of reading PPMs thoroughly, getting SEC attorney reviews, and asking hard questions about contingency planning. This conversation covers the reality of illiquid investments, the impact of events like COVID on cash flow expectations, and why vetting sponsorship teams is essential before writing large checks. Sean Griffith also discusses the transition from Wall Street retirement planning to active real estate investing and the value of mentorship in avoiding expensive mistakes. [00:01 - 07:00] Getting Started: The First Deal and PPM Education How Sean Griffith's first Carrollton, Texas deal returned 3x with 12-14% cash-on-cash distributions Why paying an SEC attorney $500 to review your first PPM is worth the investment The reality that passive investments are illiquid until property sale or major capital events [07:01 - 12:00] Due Diligence and Risk Assessment Why you should never be a "totally passive" passive investor How to use the 14-15 page risk section in PPMs to ask better questions The importance of vetting sponsorship teams through multiple references and channels [12:01 - 17:30] Operational Realities and Contingency Planning Real examples of what can go wrong: hurricanes, fires, and tragic accidents Why asking about deep pockets and capital reserves is crucial before investing How capital calls happen and what they reveal about property performance [17:31 - 22:15] The LP to GP Transition How kitchen table retirement planning revealed Wall Street's limitations Why taking care of tenants must be the top priority for sustainable success The value of mentorship and coaching to avoid expensive beginner mistakes Connect with Sean Griffith: https://www.linkedin.com/in/shawn-griffith/ Key Quotes:  "Don't just jump in and be a totally passive, passive investor. Get off your butt, do a little homework. 'Cause this is your hard earned money." - Sean Griffith Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

When does it make sense to hold real estate "until the wheels fall off" versus flipping for quick profits—and how does cost segregation factor into that decision? In this final episode with Diana Gipe from Core, Angel and Diana explore investment philosophy and timing in an uncertain economic environment. Diana reveals how recapture obligations diminish over time, making long-term holds more attractive from a tax perspective. Angel shares her residential investing background and preference for infinite returns through extended ownership, questioning the 3-5 year multifamily flip model. They discuss current economic uncertainty, rising grocery costs as inflation indicators, and why few investors actually plan short-term exits despite market pressures. This conversation covers the intersection of tax strategy, investment philosophy, and market timing, plus Core's additional services including energy efficiency tax credits. [00:01 - 04:00] Recapture Mechanics and Investment Timeline How recapture obligations are based on original purchase price, not sale price Why holding properties 3-5+ years significantly reduces or eliminates recapture fees The conservative approach to cost segregation that preserves ongoing straight-line depreciation benefits [04:01 - 08:00] Investment Philosophy: Hold vs. Flip Angel's residential background of holding properties "until the wheels fall off" Why infinite returns through long-term ownership appeal more than quick flips Diana's observation that few investors actually plan short-term exits despite market talk [08:01 - 11:00] Economic Uncertainty and Market Timing How current economic volatility makes short-term exit planning risky Real-world inflation examples: grocery costs rising from $1,000 to $1,250+ monthly Historical perspective on interest rates and the "golden era" ending [11:01 - 13:15] Additional Tax Benefits and Services Energy efficiency tax credits: 179D for new construction (up to 80 cents per square foot) HVAC, lighting, and window replacement credits for existing properties Why solar is challenging in hail-prone areas but wind energy may be viable   Key Quotes: "The longer you hold it, the smaller the recapture gets. That's why we say three to five years... by then there's not even a recapture fee to look at." - Diana Gipe Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

What happens when you discover there's a tax planning tool you've never heard of that could save you thousands on property sales—and it's been available all along? In this continuation episode, Diana Gipe from Core reveals advanced tax planning strategies that go far beyond basic cost segregation. She introduces recapture analysis, a service Angel had never encountered despite years in real estate investing, which helps investors understand the true cost of selling properties with accelerated depreciation. Diana explains how Core's internal CPA can project recapture scenarios 3-5 years into the future, enabling better investment decisions and exit planning. This conversation explores the relationship-driven approach that sets Core apart in a saturated market, year-end tax deadlines, and how providing additional value like annual recapture projections could differentiate syndication sponsors in competitive markets. [00:01 - 04:00] Understanding Recapture Analysis How recapture analysis helps investors plan for property sales 3-5 years in advance Why Core's internal CPA with 25+ years of cost segregation experience provides these projections The mathematical reality of passive investment recapture when multiple deals sell simultaneously [04:01 - 07:30] Strategic Tax Planning Beyond Cost Segregation How recapture analysis becomes a competitive differentiator for syndication sponsors Why providing annual recapture projections with K-1s could set sponsors apart The concept of cost segregation as a comprehensive tax planning strategy, not just a one-time service [07:31 - 10:00] Relationship-Driven Service Philosophy Diana's personal approach: knowing clients by name and understanding their long-term goals How Core supports investors from first property to 10+ property portfolios The emotional satisfaction of helping clients avoid large tax bills or receive unexpected refunds [10:01 - 12:05] Year-End Timing and Market Realities How December closings can still benefit from same-year cost segregation Why September through year-end becomes the busiest period for tax planning Core's ability to handle last-minute requests while maintaining quality standards Connect with Diana and Core: https://www.linkedin.com/in/dianagipe/   Key Quotes:  "Knowledge is power... we wanna make sure that you're equipped long term so that when you're going into buying properties, you can call me on the fly." - Diana Gipe Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

What does it mean when a cost segregation company has zero IRS disallowances in 18 years of business—and why does that matter more than ever with the IRS forming dedicated cost seg review teams? In this episode, Angel Williams sits down with Diana, Director of Operations at Core, to discuss why quality matters more than price in cost segregation services. Diana explains Core's rigorous engineering process, including on-site property visits and detailed documentation that has resulted in zero disallowances over 18 years. She reveals how the IRS has formed specialized cost segregation review teams as bonus depreciation approaches its sunset, and shares practical strategies like lookback studies for older properties and piggyback studies for renovations. This conversation covers the difference between fly-by-night operators doing "virtual walkthroughs on cell phones" versus professional engineering firms, plus Core's additional services including tax credits and disposition studies. [00:01 - 06:00] Quality vs. Price in Cost Segregation Why Core's 18-year track record with zero IRS disallowances matters for audit protection How the IRS has formed dedicated cost segregation review teams as 100% bonus depreciation sunsets The difference between $2,000 "trunk of the car" operators and professional engineering firms [06:01 - 12:00] Engineering Process and On-Site Visits Why Core's engineers visit every property instead of relying on virtual walkthroughs How detailed documentation includes everything from flagpoles to flooring materials The value of engineers advising on CapEx spending before renovations begin [12:01 - 17:00] Lookback and Piggyback Studies How 481 forms allow one-time lookback studies for properties purchased 3-5 years ago Why piggyback studies can accelerate depreciation on completed renovations separately The strategic timing of cost segregation for capital improvement projects [17:01 - 20:40] Beyond Basic Cost Segregation Services Disposition studies for properties undergoing major renovations or demolition Additional tax credit services: 45L credits, 179D credits, and green retrofits How Core acts as a "business consulting firm" rather than just a cost segregation provider Connect with Diana and Core: https://www.linkedin.com/in/dianagipe/ Key Quotes: "Out of that 18 years, we've had zero disallowances. And that's because our engineers take this serious. A lot of them have worked internally for the IRS." - Diana Gipe "It's like winning the lottery. Do you want your money now or later? It's yours. Just take it now while it's still here." - Diana Gipe Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

What happens when you combine syndication education with a deep-dive Q&A about industrial real estate operations—and discover why "ugly buildings that cash flow are sexy"? In this final episode of the three-part series, Daniel Holmlund wraps up his industrial flex space presentation with syndication fundamentals and answers Angel's detailed operational questions. He explains the difference between 506B and 506C offerings, preferred return structures, and how LLC partnerships distribute income and depreciation benefits. Angel dives deep into practical concerns: temperature control systems, security requirements for specialized tenants like seed storage, and the complexities of triple net lease agreements. This conversation reveals the technical infrastructure behind industrial properties, from 480-volt circuits powering massive chillers to the cost-benefit analysis businesses make when choosing between long-haul trucking and local storage solutions. [00:01 - 06:00] Syndication Structure Fundamentals How 506B requires pre-existing relationships while 506C allows public advertising to accredited investors The typical 70-80% limited partner vs 20-30% general partner income split structure Understanding preferred returns (6-10% range) and how excess cash flow gets distributed [06:01 - 12:00] Industrial Infrastructure Deep Dive Why industrial properties require 480-volt circuits vs residential 20-volt systems The $250,000-$300,000 cost of industrial chillers and why backup systems are essential How temperature and humidity control requirements vary dramatically by tenant type [12:01 - 17:00] Security and Specialized Tenant Considerations How patented seed storage requires both temperature control and enhanced security measures Why tenant-specific security arrangements work better than shared security systems The flexibility of industrial spaces to accommodate diverse business models and scaling needs [17:01 - 20:30] Investment Philosophy and Market Reality How supply chain disruptions drive businesses toward local storage solutions Why "buildings that cash flow are sexy" despite aesthetic prejudices The predictability advantage of boring, cash-flowing industrial properties over volatile alternatives Connect with Daniel:  LinkedIn: https://www.linkedin.com/in/daniel-holmlund/  Key Quotes:  "Usually 70 to 80% of the partnership income is allocated to the limited partners. 20 to 30% is allocated to the general partners." - Daniel Holmlund "You're less likely to be wiped out to zero than in some other investment opportunities." - Angel Williams Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

What if you could buy a property that cash flows from day one, has tenants who've been there for 10+ years, and just experienced 22% rent growth while multifamily struggles with competition? In this continuation episode, Daniel Holmlund dives deep into the mechanics of industrial flex space investing and why it's outperforming traditional real estate sectors. He explains how supply chain disruptions created a "computer cache" effect—businesses want inventory stored close to consumers rather than sitting on ships at sea. Daniel breaks down the advantages of triple net leases where tenants pay utilities, taxes, and maintenance, plus shares real examples of how flexible spaces allow businesses to scale up without relocating. This conversation explores the predictable cash flows, long-term tenant relationships, and 10-year projections that make industrial flex space attractive for retirement planning investors. [00:01 - 05:00] Performance Metrics That Beat Multifamily How industrial flex space achieved 22% rent increases compared to struggling multifamily returns Why occupancy remains strong near ports, airports, and centralized hub locations The "flight to quality" investment thesis as competition drives down multifamily returns [05:01 - 10:00] The Computer Cache Analogy for Supply Chain How businesses create storage layers: global shipping, US land-based, and last-mile facilities Why 10x increases in trans-oceanic shipping costs drive near-consumer storage demand Real examples: toilet paper hoarding and just-in-time inventory failures during COVID [10:01 - 15:00] Triple Net Lease Advantages and Risks How tenants pay rent plus utilities, taxes, insurance, and common area expenses Why $250,000 chillers and temperature control costs are tenant responsibilities The critical importance of lease audits and understanding complex tenant obligations [15:01 - 20:30] Predictable Cash Flow and Long-Term Planning How 10+ year tenant relationships create day-one cash flow opportunities Why industrial tenants rarely relocate compared to residential or short-term rental turnover Building 10-year financial projections for retirement planning versus unpredictable stock market Connect with Daniel: Email: daniel@growyourbusinesswithai.com LinkedIn: https://www.linkedin.com/in/daniel-holmlund/ Key Quotes: "Industrial flex space has increased its rent by 22%. This is an area that is significantly outperforming multifamily properties." - Daniel Holmlund Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

What happens when a 25-year software engineer discovers that illiquid real estate assets outperform the volatile stock market—and finds the next big opportunity in industrial flex space?   In this episode, Angel Williams sits down with Daniel Holmlund, founder of the Alternative Investing Club and Good Samaritan Capital, to explore why industrial flex space represents an untapped opportunity for real estate investors. Daniel explains how supply chain disruptions post-pandemic have created massive demand for last-mile storage and flexible industrial spaces. He shares his journey from converting 80% of his tech portfolio into real estate and reveals his "Five Pillars of Risk" framework for evaluating commercial deals. This conversation explores current market fundamentals, including $11 trillion in untapped home equity and why 25% of homeowners with sub-3% mortgages won't sell, creating continued real estate strength despite economic uncertainty.   [00:01 - 05:00] Why Illiquid Assets Beat Market Volatility How Daniel converted 80% of his portfolio from stocks to real estate over 4-5 years The philosophy of preferring predictable investments over great but volatile ones Why contracts and time delays in real estate provide stability during market panic [05:01 - 12:00] Real Estate Market Fundamentals That Prevent Crashes $11 trillion in borrowable home equity across the US (more than half of GDP) Why 43% average homeowner leverage and 40% free-and-clear homes create stability How 25% of homeowners with sub-3% mortgages will never sell, limiting inventory [12:01 - 17:30] The Five Pillars of Risk Framework Why managers are the #1 risk factor in any commercial real estate deal How to evaluate markets across 420+ different US real estate cycles The importance of clear business plans and regulatory-friendly environments [17:31 - 20:20] Industrial Flex Space: The Post-Pandemic Opportunity How supply chain fragility created 420 million square feet of new industrial demand Why businesses want last-mile storage instead of overseas dependency The boom in near storage and flex storage since the pandemic began Connect with Daniel: LinkedIn: https://www.linkedin.com/in/daniel-holmlund/   Key Quotes: "I would rather have a good investment that is predictable than a great investment that could go up and down and it's hard to tell." - Daniel Holmlund Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!

What if you could use cost segregation tax benefits with just 100 hours of work instead of 750—and still keep your high-paying W-2 job? In this advanced episode, Angel Williams continues her conversation with Gian Pia from KBKG to explore sophisticated tax strategies that most investors never discover. Gian reveals the short-term rental loophole that allows W-2 employees to materially participate with only 100 hours instead of the nearly impossible 750-hour real estate professional requirement. They dive into the complexities of 1031 exchanges with carryover basis, why you need a real estate-specialized CPA, and how passive income limitations actually work in practice. This conversation also covers KBKG's audit support services and provides a discount code for listeners ready to implement these strategies. [00:01 - 06:00] 1031 Exchange Complications and CPA Selection How carryover basis and excess basis work in complex exchanges Why you need a CPA who specializes specifically in real estate investing The critical questions to ask accountants about cost segregation knowledge and willingness [06:01 - 11:00] Real Estate Professional Status Reality Check Why W-2 employees almost never qualify for real estate professional status The 750-hour requirement plus the "more than any other business" rule How even documented proof may not be enough for IRS approval [11:01 - 16:00] The Short-Term Rental Game Changer How short-term rentals (30-day average stays) fall under hospitality rules The 100-hour material participation requirement vs. 750 hours for traditional rentals Why this allows high-income W-2 employees to use cost segregation benefits against ordinary income [16:01 - 21:15] Practical Implementation and Audit Protection How passive income limitations work across all rental properties KBKG's included audit support services with their $500 software Discount code: ACADEMY2025 for 10% off at costsegregation.com Connect with Gian: LinkedIn: Gian Piazza (the only one in the world!) https://www.linkedin.com/in/costsegregationservices/ Website: costsegregation.com Key Quotes: "There's way too much in the tax code to understand it all unless you niche down and you focus on one or two industries." - Gian Piazza "Most of the people in the accounting world don't just offer up information to you. You have to ask the right questions to get the information." - Angel Williams   Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

What if you could use cost segregation not only to accelerate depreciation, but also to reduce capital gains taxes and even offset income across multiple properties? In this episode, Angel Williams continues her conversation with Gian Piazza from KBKG to dig deeper into advanced tax strategies. Gian explains how energy efficiency incentives like Section 179D and PACE loans work, what passive investors need to know before starting, and why planning ahead for recapture and 1031 exchanges is so important. You’ll also learn how small property owners can now access tools once reserved for big investors, and how long-term planning creates significant wealth-building opportunities. [00:01 - 05:00] Beyond the Basics of Cost Segregation How smaller property owners can now leverage cost segregation The phase-out of energy tax incentives and what it means for investors Section 179D deductions explained for larger commercial projects [05:01 - 10:00] Energy Incentives and Financing Options How PACE loans finance energy retrofits while preserving capital Pairing loans with deductions for additional leverage Property tax considerations with energy-focused financing [10:01 - 14:30] First Steps for New Rental Owners What investors should do immediately after buying a rental property Why choosing the right tax advisor makes all the difference How passive investors approach deductions differently [14:31 - 18:00] Offsetting Income and Capital Gains Using cost segregation across multiple properties to reduce tax liability How deductions can offset both passive income and capital gains When cost segregation may not be the right choice [18:01 - 22:30] Recapture, 1031 Exchanges, and Long-Term Strategy What depreciation recapture means and why it matters How 1031 exchanges help protect investors from recapture The wealth-building strategy of exchanging until step-up in basis Connect with Gian: https://www.linkedin.com/in/costsegregationservices/ Key Quotes: “Passive investors have to be careful—you need the right structure to actually benefit from cost segregation.” – Gian Piazza “If you’re thinking long-term, exchanges and planning for recapture are just as important as the deductions you get up front.” – Angel Williams Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention you’re part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!

What if you could get $44,000 in extra tax deductions in year one instead of spreading them over 27 years—and it only cost you $500 to make it happen? In this episode, Angel Williams sits down with a cost segregation expert from KBKG to explore how new technology is democratizing tax benefits that were previously only available to million-dollar property owners. He explains how cost segregation works by identifying building components that wear out faster than the standard 27-39 year depreciation schedule, and reveals how their revolutionary $500 software makes these studies accessible to properties as small as $150,000. This conversation breaks down the time value of money concept, explores the 10-year window for implementing cost segregation, and discusses exciting expansions into commercial properties that will help even more small-town investors maximize their tax benefits.   [00:01 - 06:00] Cost Segregation Fundamentals and Process How cost segregation speeds up depreciation by identifying shorter-lived building components The difference between 27-39 year straight-line depreciation and accelerated write-offs Real example: turning $10,000 annual deductions into $54,000 first-year deductions Why the IRS requires qualified engineers and the detailed documentation process [06:01 - 12:00] Breaking the Million-Dollar Barrier How KBKG's software democratizes cost segregation for properties under $1 million The revolutionary $500 online tool that works for residential properties with 6 units or less Why properties as small as $150,000 can now benefit from cost segregation The 15-minute online process that generates IRS-audit-tested reports [12:01 - 17:30] Timing and Property Considerations The 10-year window for implementing cost segregation on existing properties Why refinancing doesn't reset your depreciation basis How the software works for individual properties but requires separate studies for each Special considerations for friends with mixed residential and commercial portfolios [17:31 - 21:30] Future Expansion and Market Impact Plans to expand software capabilities to commercial retail properties within 6-12 months How small-town investors buying up main street properties will benefit The paradigm shift from helping only large investors to serving everyone   Connect with Gian: https://www.linkedin.com/in/costsegregationservices/   Key Quotes:   "I want to save taxes now, not later... don't pay Uncle Sam early. Why pay him earlier than you have to?" - Gian Piazza   "Not paying out cash today is the same thing as being able to hold those dollars... not giving out money is the same as putting it in your pocket." - Angel Williams   Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!

How do you explain the difference between buying toys and building wealth to a nine-year-old—and why does it matter for high-earning professionals too? In this final segment with Ashley Garner, Angel Williams and Ashley explore the parallels between teaching kids about money and helping high-income professionals understand real estate investing. Ashley shares how he used his son's 3D printer purchases to teach about cash flow versus consumption, while Angel recounts her daughter's accidental entrepreneurship with pompoms that funded three years of camp expenses. They discuss how syndications provide a solution for busy professionals who want real estate benefits without the work, why the classic 1% rule might need updating to 1.5%, and the critical importance of always factoring in management fees—even when self-managing. [00:01 - 04:00] Syndications: Meeting High Earners Where They Are How syndications allow doctors, lawyers, and athletes to benefit from real estate without the work Overcoming the mindset barriers of asking successful people to invest Why high-income professionals need operators like Ashley and Angel [00:04 - 07:00] Teaching Money Lessons Through Real Examples Ashley's lesson to his son: apartment buildings vs. 3D printer toys The concept of income-producing assets versus consumption Why understanding cash flow matters at any age [07:01 - 09:30] Angel's Daughter's Accidental Business Empire How selling one pompom turned into a three-year business funding camp expenses The teacher intervention that required a "business license" Learning to recognize and nurture entrepreneurial moments [09:31 - 12:30] Why Residential Experience Translates to Multifamily How transaction processes, lending, and inspections remain fundamentally the same Breaking through the mental block that separates "residential" from "commercial" The importance of taking the first step despite perceived knowledge gaps [12:31 - 16:00] The Evolution of the 1% Rule Why the classic 1% rule might need to become 1.5% due to inflation How to properly evaluate deals in today's market conditions The critical importance of factoring in management fees regardless of who manages [16:01 - 20:00] Different Paths, Same Destination Wealth building through multifamily versus cash flow through residential Why some investors prefer solo ownership while others embrace syndications How to choose the right strategy based on your goals and risk tolerance Connect with Ashley: Website: abgmultifamily.com Key Quotes:  "When you're not investing your money, it's just sitting there and you wind up just spending it and the next thing you know, it's all gone." - Angel Williams "You've gotta take that first step, just get into it and you'll realize you know a whole lot more than you think already." - Ashley Garner Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!  

What happens when you realize that saving money on property management fees is actually costing you more in stress, quality of life, and your ability to scale? In this continuation episode, Angel Williams and Ashley Garner dive deeper into the critical decisions that separate surviving real estate investors from thriving ones. Ashley reveals why he abandoned self-management despite the cost savings, how the "survival mode" that once saved him became his biggest limitation, and why outsourcing everything to specialists accelerated his growth. Angel shares her hesitations about creating a third-party management company and discovers why the math might not add up. This conversation explores the hidden costs of doing everything yourself and how quality of life decisions—like hiring house cleaners instead of buying luxury cars—create the freedom that makes real estate investing worthwhile. [00:01 - 04:00] Breaking Free from Survival Mode Why the survival instincts that help you start can limit your scaling How spreading yourself thin defeats the original goal of financial freedom The counterintuitive relationship between delegation and control [04:01 - 07:30] The Self-Management Experiment Ashley's experience managing 100+ units with his own employee Why Saturday night toilet calls made him rethink the "savings" How third-party management fees compare to the true cost of self-management [07:31 - 10:00] The Real Math of Property Management Why management fees range from 3% to 10% depending on property size The hidden costs that bring third-party management close to 10% anyway Why Ashley believes property managers deserve 30% for what they deal with [10:01 - 13:30] Finding Your Superpower Strategy Why working on weaknesses keeps you mediocre instead of exceptional The reality that personality doesn't drastically change after your thirties How to identify what to outsource versus what to keep in-house [13:31 - 17:00] Quality of Life Over Material Wealth Why Ashley's first purchase with extra income was house cleaning, not luxury cars How real estate investing provides freedom to attend school events and family activities The short window of opportunity for being present during children's formative years [17:01 - 20:25] The Feast or Famine Reality Why real estate investing requires discipline for irregular income flows How to budget when a $50K distribution might need to last 12 months Introduction to syndications as a way to help others benefit from real estate without the work Connect with Ashley: https://www.linkedin.com/in/ashleybgarner/ Key Quotes: "That survival is a trait that I would never give up " - Ashley Garner "Don't spend all your time working on your weaknesses." - Angel Williams Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!

What happens when you realize you're "mathematically eliminated" from reaching your financial goals at your current pace—and decide to do something about it? In this episode, Angel Williams sits down with Ashley Garner, a residential real estate broker who scaled from single-family properties to a recent 196-unit acquisition. Ashley shares his journey from working with a hammer in hand alongside his father in junior high to building a multifamily empire. He reveals the power of infinite returns through strategic refinancing, why he never sold his residential portfolio, and how the tax benefits of multifamily can offset active income. This conversation explores the mindset shifts required to move from doing everything yourself to building a team, and why finding your lane—rather than trying to master everything—accelerates growth.   [00:01 - 03:30] The Foundation: Learning with a Hammer How Ashley's real estate education started in junior high with his father Why they still own most of those original student rental properties from the 1980s The progression from single houses to duplexes, triplexes, and beyond [03:31 - 07:00] The Power of Infinite Returns How Ashley refinanced his 10-unit property three times for cash-out refinancing Why keeping residential properties alongside multifamily creates infinite returns The difference between overnight success myths and building wealth over decades [07:01 - 11:00] The Mathematical Reality Check Why Ashley realized he was "mathematically eliminated" from his goals at his current pace How multifamily "balloons your net worth" compared to single-family properties The tax advantages: making $15K in cash while showing a $51K loss to the IRS [11:01 - 14:00] From Residential to Commercial Mindset Why larger multifamily is "a whole business" with staff, maintenance, and operations The importance of accrual accounting for managing monthly expenses How to avoid cash flow disasters by setting aside money for annual expenses [14:01 - 18:40] Scaling Through Delegation Breaking the "hands-on" mindset inherited from family business Why outsourcing to specialists beats being a beginner at everything How AI and international outsourcing can improve quality while reducing costs [18:41 - 19:05] Finding Your Lane in Partnerships Angel's strategy: "Numbers are not my thing" to optimize team dynamics How specialization allows partners to play to their strengths Why staying in your lane accelerates overall team performance   Connect with Ashley: https://www.linkedin.com/in/ashleybgarner/   Key Quotes: "I've purchased millions of dollars of other real estate with none of my own money, just equity from that [10-unit property]." - Ashley Garner "Why wouldn't I outsource it to somebody that that is their specialty? There's a better use of my time than learning how to create graphics in Canva." - Angel Williams   Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!

What happens when you discover that everything you've been taught to accept without question—from lender rates to management contracts—is actually negotiable? In this continuation episode, Angel Williams and Bethany Finch dive deeper into the hard-earned lessons that come from real estate investing mistakes. Bethany reveals why she never accepts a contract without red-lining it first, how a coaching breakthrough taught her that "everything is negotiable," and why teachers must unlearn the habit of accepting status quo. Angel shares her own painful lessons about property management contracts and trust account nightmares that left six figures inaccessible during a crisis. This conversation explores how educators can transfer their problem-solving skills to real estate while breaking free from the employee mindset that limits their negotiating power.   [00:01 - 04:00] Property Management Reality Check Why Angel felt isolated during a crisis with no local syndication support The costly lesson of having six figures trapped in inaccessible trust accounts How residential real estate friends can't always help with commercial challenges [04:01 - 06:30] Contract Lessons Learned the Hard Way Why reading every contract line by line is non-negotiable How red-lining contracts becomes standard practice after expensive mistakes The importance of understanding landlord laws and trust account regulations [06:31 - 09:30] Breaking the Employee Mindset Why traditional jobs train us to accept procedures without question How teachers can leverage their outside-the-box thinking in business The difference between companies that recognize valuable input versus those that don't [09:31 - 12:00] Teaching Innovation Transfers to Real Estate Bethany's unconventional approach to helping ADD students without medication How asking better questions leads to breakthrough solutions Why removing obstacles (mental or physical) unlocks potential [12:01 - 14:25] Taking Action Beyond Mindset The importance of reaching out to experienced mentors for guidance Why passive income opportunities require the right questions before investing How real estate investing provides freedom to retire on your terms, not the system's timeline   Connect with Bethany: https://www.linkedin.com/in/bethany-finch-amhs/   Key Quotes: "Everything is negotiable." - Bethany Finch "We will never sign another contract without red lining. Ever." - Angel Williams   Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!

What happens when a teacher maxes out credit cards and takes loans against retirement to break free from the paycheck-to-paycheck cycle—and it actually works? In this episode, Angel Williams sits down with Bethany Finch of American Made Home Solutions to explore the raw reality of transitioning from teaching to real estate investing. Bethany opens up about the financial struggles that pushed her to take massive action, the coaching that kept her accountable, and the contractor nightmares that nearly broke her spirit. She shares why teachers have unique advantages in real estate, the importance of choosing multifamily over single-family properties, and how building the right team transforms everything. This conversation reveals not just the strategies for success, but the emotional resilience required to push through when everything seems to be falling apart.   [00:01 - 03:00] The Financial Reality Check Why being paycheck-to-paycheck as an educator created urgency for change How teachers' natural problem-solving skills translate to real estate success The mindset shift from scarcity to abundance thinking [03:01 - 06:30] Paying for Education with Everything You Have Why Bethany chose to pay for coaching despite having no money How maxing out credit cards and borrowing from retirement accelerated her timeline The importance of momentum over perfect financial circumstances [06:31 - 09:58] The Contractor Nightmare Bethany's experience firing eight contractors on a single project How a 2 AM breakdown led to a crucial coaching breakthrough Why accepting that 10% of deals will lose money changes everything [09:59 - 13:00] From Single-Family to Multifamily Mindset Why most teachers get stuck in the single-family trap How multifamily investing provides better returns and passive income The education process needed to shift from personal liability to business thinking [13:01 - 16:15] Building and Trusting Your Team Why teachers struggle to rely on others after years of self-reliance How GP team dynamics work when everyone goes on vacation at once The importance of setting boundaries and communication protocols [16:15 - 18:05] The Power of Permission and Support Why team members need explicit permission to reach out during emergencies How to transition smoothly through challenges without stressing your team Learning to ask for help before you're overwhelmed   Connect with Bethany: https://www.linkedin.com/in/bethany-finch-amhs/   Key Quotes: "You're gonna pay for your education one way or the other. Either with time or with money." - Bethany Finch "I don't need a cheerleader. I need a coach." - Bethany Finch "10% of all the deals you'll do in a year, you're gonna bring money to that table. The home run King doesn't always hit a home run." - Bethany Finch "Teachers come with a unique skillset already because we're figuring things out on the fly." - Angel Williams   Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!