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The LSCRE Podcast
Rob Beardsley
345 episodes
2 days ago
In this episode of the LSCRE Podcast, Craig McGrouther sits down with Ray Hightower to discuss why entrepreneurs are betting on Arizona. They explore the factors driving Arizona’s growth, from population inflows and business migration to a thriving innovation ecosystem that continues to attract investors and operators. Ray shares his perspective on what makes Arizona a standout market, highlighting the opportunities emerging across technology, real estate, and entrepreneurship. The conversa...
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Investing
Business
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All content for The LSCRE Podcast is the property of Rob Beardsley and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
In this episode of the LSCRE Podcast, Craig McGrouther sits down with Ray Hightower to discuss why entrepreneurs are betting on Arizona. They explore the factors driving Arizona’s growth, from population inflows and business migration to a thriving innovation ecosystem that continues to attract investors and operators. Ray shares his perspective on what makes Arizona a standout market, highlighting the opportunities emerging across technology, real estate, and entrepreneurship. The conversa...
Show more...
Investing
Business
Episodes (20/345)
The LSCRE Podcast
Why Entrepreneurs Are Betting on Arizona
In this episode of the LSCRE Podcast, Craig McGrouther sits down with Ray Hightower to discuss why entrepreneurs are betting on Arizona. They explore the factors driving Arizona’s growth, from population inflows and business migration to a thriving innovation ecosystem that continues to attract investors and operators. Ray shares his perspective on what makes Arizona a standout market, highlighting the opportunities emerging across technology, real estate, and entrepreneurship. The conversa...
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2 days ago
35 minutes

The LSCRE Podcast
Market Analysis The Truth Behind Rent Growth
In this episode of the LSCRE Podcast, Craig McGrouther and I unpack the real story behind rent growth in today’s market. We break down how new supply, wage trends, and inflation are influencing multifamily performance, and why headline rent growth figures don’t always reflect what’s happening on the ground. I share insights on how investors can separate short-term volatility from sustainable demand and what data points matter most when evaluating a market’s true fundamentals. The discussion...
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5 days ago
1 hour 1 minute

The LSCRE Podcast
How One Simple Debt Decision Can Wipe Out Investor Returns
In this episode of the LSCRE Podcast, Craig McGrouther and Sam Morris uncover how one simple debt decision can completely wipe out investor returns. They discuss how leverage, loan structure, and interest rate exposure can quickly turn a profitable deal into a loss – and what disciplined operators do differently to protect downside risk. Craig and Sam share insights on aligning financing strategy with investment goals, stress-testing capital stacks, and navigating the current lending environ...
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6 days ago
56 minutes

The LSCRE Podcast
How to Win Today's Market Without Over-Leveraging
In this episode of the LSCRE Podcast, Craig McGrouther and I dive into how investors can stay competitive and build sustainable portfolios in today’s market environment. We discuss why many investors are being forced to rethink their capital structures, how to protect returns without taking on excessive leverage, and the principles of disciplined underwriting that separate strong operators from overextended ones. I share insights from institutional investors on navigating higher interest rat...
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1 week ago
42 minutes

The LSCRE Podcast
The Secret to Longevity as a Fund Manager With Sam Silverman
In this episode, Craig McGrouther sits down with Sam Silverman to discuss the critical challenge facing fund managers today in building sustainable revenue while waiting years for equity deals to pay out. Sam introduces KUDO Capital's private credit fund, which targets 16% annual returns through business funding investments that fully amortize in 4 to 12 months. With a fully aligned fee structure where the GP takes zero unless investors hit their full return, the fund provides both current ...
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2 weeks ago
26 minutes

The LSCRE Podcast
The Real Value of Real Estate
In this episode of the LSCRE Podcast, Craig McGrouther and I tackle whether alpha is dead in multifamily real estate. I explain how institutionalization has compressed returns across the board, but opportunities still exist through vertical integration, market expertise, and innovative strategies. We break down what true vertical integration actually means and how these "one percenters" create the actual value add that generates alpha in today's competitive market. The discussion also cove...
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2 weeks ago
29 minutes

The LSCRE Podcast
How Short-Term Thinking Destroys Real Estate Markets
In this episode, Craig McGrouther sits down with Joe Downs, CEO of Belrose Group, who shares his journey from financial advisor to bar owner to self-storage operator. After multiple career reinventions, Joe discovered that 80% of self-storage facilities are owned by mom & pop operators – creating a massive opportunity for professional operators who can bring modern technology, dynamic pricing, and professional management to an outdated industry. Joe explains his investment thesis for sel...
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3 weeks ago
51 minutes

The LSCRE Podcast
The Truth About Building Wealth in Real Estate with Gino Barbaro
In this episode, Craig McGrouther sits down with Gino Barbaro of Jake and Gino, who shares his 20-year journey from running a restaurant to owning 1,800+ multifamily units. After spending 18 months finding their first 25-unit deal for $675K (now worth $2.5M), Gino explains how he worked full-time while building his portfolio – dedicating 15-20 hours weekly to real estate until 2015. He emphasizes the importance of limiting downside risk and following foundational principles: "buy right, man...
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1 month ago
55 minutes

The LSCRE Podcast
Reading the Market Before the Turn
In this episode, Craig McGrouther sits down with Casey Stratton, who shares his journey from corporate layoffs during the GFC to building a real estate portfolio using the 1% rule – buying duplexes for $100K that rented for $1K/month. Now focused on Eastern Washington's Tri-Cities (one of the top 20 fastest-growing MSAs), Casey discusses how they're navigating today's 0.75% reality by pursuing true off-market deals and pivoting to development. After securing a 33-unit property from an 86-ye...
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1 month ago
39 minutes

The LSCRE Podcast
Why Small & Mid-Size Multifamily Still Works in 2025
In this episode, Craig Mcgrouther sits down with Axel Ragnarsson of Aligned Real Estate Partners, who's carved out a unique niche buying 5-20 unit properties direct from sellers in Southern New Hampshire. Since 2016, Axel has built a 525-unit portfolio by maintaining long-term follow-up with sellers, often nurturing relationships for 12-18 months before closing. He explains how 75% of his deals bypass brokers entirely, capturing inefficiencies in the $1-5M deal range where 15-20% disco...
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1 month ago
47 minutes

The LSCRE Podcast
The Value of Value-Add
In this post-LSC Summit episode recorded in NYC, Craig McGrouther and I reflect on another successful investor event and dive deep into current market opportunities. We share behind-the-scenes insight on why our summit is designed to break even, the power of curated in-person networking, and the culture of accessibility that sets our events apart. We break down why 1970s-80s vintage multifamily is becoming the sweet spot – institutional capital is chasing 2000s and newer assets while retail ...
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1 month ago
47 minutes

The LSCRE Podcast
He Lost Everything in 2008… What He Did Next Will Shock You
In this episode, Craig McGrouther sits down with Andrew McNair, founder of SWAN Capital, who shares his remarkable journey from saving $62K working at McDonald's and Denny's as a teenager to losing it all in the stock market at 19. After reading Rich Dad Poor Dad at 14, Andrew worked for free at a wealth management firm while maintaining jobs, eventually building a portfolio of 54 rental properties by age 30. The stress of hands-on management led him to pivot toward syndications through Cyg...
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1 month ago
42 minutes

The LSCRE Podcast
Rethinking Value-Add in Today’s Market
In this episode of the LSCRE podcast, Craig McGrouther, Sam Morris, and I tackle the "hackneyed" concept of value-add investing and why it's been reduced to a one-trick pony of kitchen renovations. We explain how value-add became overused to the point of losing meaning, with sponsors pitching newer construction as "value-add opportunities". We explore alternative value-add strategies: operational improvements, financial restructuring, and amenity additions like in-unit washers that can gener...
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1 month ago
49 minutes

The LSCRE Podcast
Blind Pools, Credit Risk and the Three P’s of Real Estate Investing
In this episode, Craig McGrouther sits down with Marcin Drozdz of M1 Capital, who shares his 20-year journey from buying his first property at 19 to raising $300M for Ken McElroy during the 2008 crisis. Marcin reveals how he bought medical amd dental plazas for 20-30 cents on the dollar during the GFC, targeting insurance-backed tenants that remained recession-proof. He breaks down the "3 P's" of fund raising: People, Process, then Property – inverting the typical syndication approach. Rece...
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1 month ago
52 minutes

The LSCRE Podcast
What Sponsors Don’t Want You to Know About Underwriting
In this episode, Craig McGrouther and I dive deep into the nuances of "above the line" and "below the line" expenses in multifamily underwriting. We explain how the "line" is Net Operating Income (NOI), with operating expenses like payroll and insurance sitting above, while CapEx and debt service fall below. I reveal the art behind these classifications and how a unit renovation could be coded as either R&M (above) or CapEx (below) depending on interpretation, affecting the property's app...
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1 month ago
32 minutes

The LSCRE Podcast
Family Offices & Multifamily: Where the Smart Money Goes
In this episode, Craig McGrouther sits down with Bernard Pierson, co-founder of EHP Capital, who's been LP investing since 2012 and now focuses on value-add multifamily in Kansas City. Bernard reveals a counterintuitive insight from his 50+ LP investments: deals projecting 15-17% IRRs often outperformed those advertising 30%+ returns. He shares how Kansas City has consistently ranked in the top 5 U.S. markets for rent growth over the past 3 years while avoiding the supply issues plaguing ga...
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2 months ago
37 minutes

The LSCRE Podcast
The Tax Secrets Wealthy Real Estate Investors Use (And You Don’t)
In this episode, Craig McGrouther and I tackle two of the most frequently asked questions from investors: bonus depreciation and 1031 exchanges. With 100% bonus depreciation returning, they explain why this doesn't automatically mean 1:1 depreciation for investors, breaking down how leverage, CapEx, and land allocation affect your actual depreciation ratio. Using our current deal as an example, we can show why conservative 65% leverage yields ~45% depreciation rather than the 90% you'd get at...
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2 months ago
27 minutes

The LSCRE Podcast
The Real Estate Playbook for High Earners with Bryan Morris
In this episode, Craig McGrouther sits down with Bryan Morris, co-founder of Seven Peak Capital, who shares his journey from earning $50K at Pepsi to building a successful fund management firm serving tech sales professionals. Bryan reveals how Rich Dad Poor Dad at age 22 changed his trajectory, leading him to buy his first rental property for $88K with just $17K saved. After relocating to NYC and completing Wharton's real estate certificate, he discovered the power of syndications for high-e...
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2 months ago
44 minutes

The LSCRE Podcast
How to Build Trust Without a Deal on the Table with Joey Mure
In this episode, Craig McGrouther sits down with Joey Mure from Wealth Without Wall Street, who shares his transformation from earning $300K+ in the mortgage business to building $50K/month in passive income. Joey reveals why traditional financial advice kept him trapped in the "never enough syndrome" despite high earnings, and how a beach vacation where he missed family time for work calls became his wake-up call. He challenges conventional wisdom by explaining why 401(k)s and home equity ...
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2 months ago
45 minutes

The LSCRE Podcast
The Danger of Believing Every Return Projection
In this episode, Craig McGrouther and I discuss the upcoming Lone Star Capital Summit and why this curated event stands apart from typical real estate conferences. We then shift to market analysis, discussing why Class C properties and 1970s vintage assets are facing extreme pessimism, creating potential contrarian opportunities where capital isn't flowing.We also touch on the dramatic market reaction to weak jobs data on August 1st, which flipped the probability of a September Fed rate cut...
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3 months ago
28 minutes

The LSCRE Podcast
In this episode of the LSCRE Podcast, Craig McGrouther sits down with Ray Hightower to discuss why entrepreneurs are betting on Arizona. They explore the factors driving Arizona’s growth, from population inflows and business migration to a thriving innovation ecosystem that continues to attract investors and operators. Ray shares his perspective on what makes Arizona a standout market, highlighting the opportunities emerging across technology, real estate, and entrepreneurship. The conversa...