In this episode of The Investor's Guide to Joy, Paul Graham and Christion Sadler dive into the secondary real estate market, exploring how it provides investors with the opportunity to unlock equity before the typical 3-5 year lockup period. Christion explains how the Pre-iShare platform facilitates these transactions, offering a marketplace where buyers and sellers can connect. He shares insights into why liquidity is important for investors, whether due to life events or portfolio adjustments, and discusses the challenges of pricing and due diligence in secondary market transactions.The conversation also delves into the creative possibilities within the secondary market, including structuring deals and negotiating terms, as well as the importance of being an accredited investor. Christion emphasizes the need for transparency, thorough communication, and understanding the risks and opportunities involved. With a focus on secondary market investments, he offers valuable advice on how investors can navigate this evolving space to unlock potential upside and achieve long-term success.Highlights of the Podcast00:07 - Introduction02:32 - Christion's Role & Investor Profiles04:25 - Investor Situations & Liquidity Needs07:38 - The Need for a Secondary Market in Real Estate12:24 - Due Diligence & Market Confidence13:45 - Valuation & Pricing of Secondary Market Shares15:44 - Process, Timeline, and Costs for Secondary Sales18:30 - Buying and Selling Secondary Market Shares19:16 - Due Diligence in Secondary Market Investing22:39 - Benefits of Vintage Investing25:27 - Types of Real Estate on the Platform27:55 - Negotiating Secondary Market Transactions32:43 - Accredited vs. Non-Accredited Investors34:08 - Accredited Investor Status35:41 - Secondary Market Benefits39:08 - Preacher Liquidity Fund41:45 - Operational Risks45:18 - Personal Investment Advice