🎙️Episode Title

"Mindset Meets Metrics: Underwriting with Certainty, Clarity, and Confidence"

🔍Overview

In this episode of the Ironclad Underwriting Podcast, host Jason Williams sits down with business partner Frank Patalano and master coach Trevor McGregor to explore the deep link between mindset and successful commercial real estate underwriting. They break down why success is 80% psychology and 20% mechanics, how to protect yourself from market swings, and the importance of keeping both your emotions and your deal analysis in check. With real stories, proven frameworks, and practical advice, this episode gives listeners the tools to operate with certainty, clarity, and confidence, especially when handling other people’s money.

📌 Topics Covered

✅Why “white hot desire” drives results in real estate

✅The 80/20 rule of psychology vs. mechanics in success

✅Avoiding analysis paralysis and overconfidence

✅Reading and respecting red flags in deals

✅Surrounding yourself with experienced investors

✅Seeing failures as feedback, not defeat

✅The three C’s of underwriting: Certainty, Clarity, Confidence

✅How mindset impacts investor trust

✅Navigating market cycles with caution and opportunity in mind

✅Lessons from investors who lost everything due to poor risk management

💬3 Key Quotes

✅“Success is 80% psychology and 20% mechanics.” – Trevor McGregor

✅“There is no failure, only feedback.” – Trevor McGregor

✅“When you have certainty, clarity, and confidence in your underwriting, you give that same confidence to your team and your investors.” – Trevor McGregor

🎧 Connect with Jason:

✅ LinkedIn

✅ https://IroncladUnderwriting.com

✅Linktree

🎧 Connect with Frank:

✅LinkedIn

🎧 Connect with Trevor:

✅LinkedIn

🔍 Episode Overview:

In this episode of Ironclad Underwriting, host Jason Williams is joined by business partner Frank Patalano to discuss one of the most common (and costly) red flags in real estate investing: relying on short-term trends for long-term decisions. From unsustainable rent growth projections to unrealistic interest rate assumptions, the duo breaks down the pitfalls of over-aggressive underwriting and emotional investing. This is a must-listen for investors, underwriters, and CRE professionals navigating volatile markets with uncertain futures.

📌 Topics Covered:

✅The trap of using peak rent growth projections (San Antonio & Phoenix case studies)

✅How low interest rates and aggressive refi assumptions led to financial ruin

✅Emotional investing and the illusion of permanent market conditions

✅Airbnb, oil, RV parks: how temporary trends lure in short-term thinkers

✅Why underwriting needs to account for cycles, not spikes

✅Lessons from missed deals, failed forecasts, and post-COVID volatility

✅The fine line between healthy risk and reckless optimism

💬3 Key Quotes:

✅”Markets run in cycles: you’ve got to think of the ups and the downs. Especially if you’re doing mortgages, not 30-year holds.”

✅”People were underwriting like interest rates would stay at 2.5% forever… then rates tripled.”

✅“Temporary trends feel permanent in the moment, but in real estate, the long game always wins.”

🎧 Connect with Jason:

✅ LinkedIn

✅ https://IroncladUnderwriting.com

✅Linktree

🎧 Connect with Frank:

✅LinkedIn

🔍 Episode Overview:

In this eye-opening episode, Jason Williams and Frank Patalano dive deep into the critical principle of “trust, but verify” in commercial real estate underwriting. What starts as a conversation about mentorship and broker-provided information turns into a masterclass on due diligence. Highlighting real-world experiences with misleading offering memorandums, surprise costs, and costly omissions.

Whether you're buying a 100-unit property or a single-family rental, today’s discussion will give you the tools and mindset needed to avoid costly mistakes and make sound investment decisions. Jason and Frank cover everything from property taxes and insurance hikes to lease audits, metering myths, and Federal Pacific panel hazards.

📌 Topics Covered

✅Why “trust but verify” is a must, not just advice

✅How brokers use best-case assumptions (and why you shouldn’t)

✅Tax reassessments and insurance shockers post-acquisition

✅Hidden liabilities: leases, laundry contracts, and water heaters

✅Due diligence tactics: roof inspections, sewer scopes, lease audits

✅The danger of relying on pro formas and unverified underwriting

✅Building a third-party verification team: tax advisors, insurers, PMs

💬 3 Key Quotes:

✅"They’re showing you the tax of what they were last year, but that’s last year at a purchase price of $5 million, not when they’re selling it now at $14 million." - Jason Williams

✅ "It’s still a pig. Maybe it’s a little prettier, but they just put lipstick on it. And once it’s sold, the broker and seller couldn’t care less”. Jason Williams

✅"Even a $100,000 house can be a nightmare if you skip your due diligence” - Frank Patalano

🎧 Connect with Jason:

✅ LinkedIn

✅ https://IroncladUnderwriting.com

✅Linktree

🎧 Connect with Frank:

✅LinkedIn