In this episode, Michael sits down with August Biniaz, co-founder and Chief Investment Officer of CPI Capital, to discuss why he believes multifamily is approaching a major recovery—and how investors can position themselves now. August shares his perspective on the current market cycle, the challenges of raising foreign capital into U.S. deals, and why he remains bullish on multifamily despite recent headwinds.

The conversation also explores why U.S. real estate remains so attractive compared to Canada, how to structure cross-border syndications, and why investors must stay disciplined and continue underwriting deals even in a difficult market.

• August believes multifamily fundamentals remain strong because new construction has slowed dramatically while population growth continues.
• Today’s biggest challenge is the “bid-ask spread”—sellers still want 2022 pricing while buyers need lower prices to make deals work.
• Finding great deals is still a numbers game: the investors closing deals are underwriting far more properties than everyone else.
• U.S. multifamily remains more attractive than Canadian real estate because of stronger cash flow, fewer regulations, and better long-term yields.
• Cross-border investing requires the right legal and tax structure, especially when bringing Canadian capital into U.S. syndications.
• Multifamily is still one of the best industries for entrepreneurs because even the largest operators control only a tiny share of the market.

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Syndicated Deal Analyzer

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For full episode show notes visit: https://themichaelblank.com/podcasts/session519/

In this episode, Michael sits down with Bob Fraser, CFO and Chief Macro Strategist at Aspen Funds and author of Invest Like a Billionaire. Bob shares why billionaires invest very differently than most people—and why relying solely on stocks and bonds may be limiting your ability to build long-term wealth.

The conversation explores alternative investments like multifamily, private credit, industrial real estate, oil and gas, and private equity. Bob explains how to think through market cycles, why diversification across uncorrelated assets matters, and how investors can position themselves to benefit from long-term tailwinds instead of chasing the latest trend.

• Billionaires don’t rely on a traditional 60/40 portfolio—they allocate heavily to alternative investments and uncorrelated assets.
• There is always an asset class that is working, even when another is struggling, which is why diversification across market cycles matters.
• Private credit can provide equity-like returns with lower risk by acting as the lender instead of the owner.
• Investors should focus on long-term macro tailwinds like reshoring, industrial real estate, and energy demand rather than chasing short-term narratives.
• Great operators are defined by how they perform during difficult market cycles, not just during boom years.
• You don’t need to master every asset class yourself—joint ventures and partnerships can help you gain exposure to new opportunities.

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Syndicated Deal Analyzer

Get the Book, Financial Freedom with Real Estate Investing by Michael Blank

For full episode show notes visit: https://themichaelblank.com/podcasts/session518/

In this episode, Michael Blank answers a listener question about what happens when a deal doesn’t go as planned—specifically, how to handle loan restructuring in today’s challenging market. With rising interest rates and tighter lending conditions, many operators are facing refinancing pressure. Michael walks through practical strategies for working with lenders, protecting investors, and navigating difficult situations while maintaining credibility and long-term relationships.

1. Loan challenges are more common in today’s market, especially with floating-rate debt and expiring terms.
2. Proactive communication with lenders is critical — the earlier you engage, the more options you have.
3. Lenders don’t want to take your property — they are often willing to restructure if you bring a realistic plan.
4. Transparency with investors builds long-term trust, even when deals face difficulties.
5. Sometimes additional capital or modified terms are necessary to stabilize a deal.
6. How you handle tough situations defines your reputation far more than easy wins.

Facebook

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YouTube

TikTok

TheFreedomPodcast.com

Access the #1 FREE Apartment Investing Course (Apartments 101)

Schedule a Free Strategy Session with Michael's Team of Advisors

Explore Michael’s Mentoring Program

Join the Nighthawk Equity Investor Club

Review the Podcast on Apple Podcasts

Syndicated Deal Analyzer

Get the Book, Financial Freedom with Real Estate Investing by Michael Blank

For full episode show notes visit: https://themichaelblank.com/podcasts/session517/