What does it really take to build wealth beyond simply making money?

In the inaugural episode of The Coastal Collective Podcast, host Carey Sobel, Chief M&A Officer, sits down with Greg Meerbaum, Co-Founder and CEO of Coastal, to unpack the story behind Coastal, his unconventional path from college dropout and entrepreneur to investor and company builder, and the philosophy that ultimately shaped the firm.

Greg shares how his early business experience taught him that there are three distinct stages of money: making it, managing it, and learning how to duplicate it. From there, the conversation explores why relationships matter as much as individual deals, how access changes as investment scale grows, and why Coastal was built around connecting investors with experienced operators and individual private-market opportunities.

Carey and Greg also dig into Coastal’s approach to evaluating sponsors, the importance of skin in the game, why getting closer to the actual operator matters, and the difference between capital urgency and patient capital.

Along the way, Greg explains why he believes successful investing requires realistic expectations, disciplined due diligence, aligned incentives, and the willingness to think beyond the next quarter—or even the next few years.

The episode closes with a more personal look at leadership, culture, legacy, and what Greg considers one of Coastal’s greatest accomplishments: creating an environment where the people around the company can grow personally, professionally, and financially.

In this episode:

• The three stages of money: make it, manage it, duplicate it • How Greg Meerbaum’s entrepreneurial career led to the creation of Coastal • Why relationships can be more valuable than a single transaction • How larger investment scale can create greater access and opportunity • What Coastal looks for in operators and investment partners • Why skin in the game and incentive alignment matter • Deal-by-deal investing versus blind-pool structures • Capital patience versus capital urgency • Why due diligence is central to Coastal’s investment philosophy • Building company culture while continuing to grow • Greg’s perspective on leadership, legacy, and building something that lasts

This is the story behind Coastal—and the people, principles, and investment philosophy that helped build it.

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00:00 — Welcome to The Coastal Collective

01:22 — Greg’s Story Before Coastal

06:49 — The Three Stages of Money

09:54 — Why Business Is About More Than the Deal

11:32 — Discovering Institutional Real Estate

14:05 — Building the Investment Platform He Wanted for Himself

17:19 — Skin in the Game and Betting on Operators

21:03 — Investor Education, Alternatives, and Access

24:19 — The Early Days of Coastal

26:30 — The First Deal That Proved the Concept

30:09 — What Investors Don’t See: The Due Diligence Machine

31:13 — Deal-by-Deal Investing vs. Blind-Pool Funds

35:44 — The Kentucky Derby Approach to Picking Investments

37:29 — Why Vertically Integrated Operators Matter

40:05 — Capital Patience vs. Capital Urgency

42:08 — The Danger of Chasing Unrealistic Returns

43:35 — Getting Closer to the Source

45:20 — Greg’s View of the Current Investment Environment

46:50 — The Biggest Mistake Greg Sees Investors Make

48:29 — Alignment: Why Coastal Gets Paid on the Back End

49:15 — What Does Coastal Look Like Five Years From Now?

50:36 — The One Thing Greg Never Wants Coastal to Lose

53:03 — Greg’s Proudest Accomplishment

54:32 — Legacy, Family, and Building Something That Lasts

56:33 — Lightning Round

57:28 — The “Problems in a Bucket” Philosophy