Joe Fairless has built one of the largest multifamily investment platforms in the country, overseeing more than 14,000 units and $3.9B in assets across the Sunbelt. In this episode, Saul sits down with Joe to break down what it actually takes to operate at that scale, how today’s multifamily market is really performing behind the headlines, and why disciplined operations matter more than ever in this cycle.

The conversation dives into capital raising, supply pressure, concessions, property management, and the realities of navigating large-scale apartment investing during a shifting market environment.

Listener takeaways include:

• How Joe scaled to 14,000+ units and a $3.9B portfolio
• What’s really happening in Sunbelt multifamily markets right now
• Why concessions and supply pressure are lasting longer than expected
• How institutional-quality operations create long-term stability
• The importance of diversifying capital sources and investor relationships
• What experienced operators are watching over the next 12–18 months

Whether you're an active multifamily operator, passive investor, syndicator, or CRE entrepreneur, this episode offers a practical look into managing large apartment portfolios through changing market conditions.

Connect with Joe Fairless:

LinkedIn: https://www.linkedin.com/in/joefairless Podcast: https://www.bestevercre.com/podcast Website: https://ashcroftcapital.com

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#CommercialRealEstate #MultifamilyInvesting #ApartmentInvesting #RealEstateInvesting #CapitalRaising #CRE #ValueBuilderPodcast

In this episode of The Value Builder Podcast, Saul sits down with Cody Payne of Flex Parks USA, one of the most experienced operators in small bay flex industrial, alongside partner Shea Lewis. With over 20 years in the space and more than 10,000 transactions closed, Cody breaks down what’s actually happening in today’s flex industrial market—from rent trends and tenant demand to why newer metal product is outperforming traditional infill.

This conversation goes beyond surface-level insights and gets into what’s really driving pricing, leasing velocity, and investor behavior in 2026.

In this episode, you’ll learn:

• Why newer metal flex parks are commanding higher rents than infill assets
• The real difference between contractor-driven demand vs growth-driven markets
• What buyers are actually looking for in stabilized vs value-add deals
• How tenant mix, clear height, and location impact long-term performance
• Why basic “commodity” flex space is most at risk of oversupply
• The key amenities and features that separate top-performing parks

From development strategy to disposition insights, this episode gives a clear look at where flex industrial is heading—and how to position yourself on the right side of it.

Connect with Cody: Amazon: https://www.amazon.com/Flex-Space-Domination-Capitalizing-Industrial/dp/B0D385755L LinkedIn: https://www.linkedin.com/in/codypayne/ Online: https://flexbusinessparks.com/

Tim Chen brings a ground-level view of what’s actually happening in multifamily today—from rapid expansion during peak markets to navigating one of the toughest cycles in recent memory. After scaling from brokerage into ownership and development, Tim shares how shifting strategies, controlling costs, and thinking long-term are shaping his current approach.

In this episode, you’ll learn:

• Why many multifamily deals are underwater and what caused it
• How rising rates and stalled rent growth are reshaping underwriting
• Why development can outperform value-add in certain markets
• How California’s property tax structure changes long-term strategy
• Where real deal flow is coming from in today’s market
• Why vertical integration is becoming a competitive advantage

Connect with Tim: Email: tc@connectedcompanies.com Phone: (949) 391-6668 LinkeIn: https://www.linkedin.com/in/timdchen/ Website: https://www.connectedcompanies.com/

This episode is for operators, investors, and builders who want a clear, honest look at today’s market—and how to adapt without relying on yesterday’s playbook.

Aleksey Chernobelskiy went from managing a $10B real estate portfolio to building one of the most practical platforms in CRE capital markets.

In this episode, he breaks down how GPLP Match is simplifying the connection between GPs and LPs—without fees, without friction, and without the noise.

In this episode, you’ll learn:

• Why capital raising in CRE is still inefficient
• How GPLP Match filters and connects the right investors
• What LPs actually look for beyond IRR
• Why most deal decks fail before they’re even read
• The difference between short-term and long-term capital strategies

This episode is a clear look at where capital markets are heading—and what operators need to fix if they want to compete.

If you're raising capital or deploying it, this one gives a real-world edge.

Contact Aleksey on LinkedIn: https://www.linkedin.com/in/chernobelskiy/

Sign up as a GP or LP at: https://gplpmatch.com/

Pat Hiban of Gobundance has done what most in real estate never reach—over $1B in sales, a dominant team, and a successful transition into multifamily investing and passive income. But what stands out now isn’t what he built… it’s what he walked away from.

In this episode, Pat breaks down how he engineered a life working just 90 minutes a day, why he left commissions behind, and the simple framework he now uses to evaluate every opportunity that comes his way.

In this episode, you’ll learn:

• Why high-volume sales eventually stops being the right game
• The shift from transactional income to true “horizontal” income
• How the 2008 crash forced a complete career pivot
• Why most side hustles fail—and how to quit them fast
• The “Easy, Lucrative, Fun” filter for evaluating deals
• How Gobundance scaled into a 1,000+ member network organically

Pat’s story is a reminder that success isn’t just about building more—it’s about building better, then knowing when to step back.

If you're chasing freedom, rethinking your business model, or evaluating what’s actually worth your time, this conversation will recalibrate how you approach the next opportunity.

Contact/Links

Email - pat@hiban.com

Gobundance - https://gobundance.com

Matt King - The Ride - https://gobundance.com/theride

Chapters

00:00 Introduction to Pat Hiban

03:54 Life Updates and Work Balance

10:31 Transitioning from Real Estate Sales

15:22 Side Hustles and Lessons Learned

22:36 The Journey of Adapt Acquisitions and GoBundance

24:17 The Magic Touch in Business Ventures

25:05 Real Estate Cycles and Future Predictions

28:57 Exploring New Business Models

36:39 The Evolution of GoBundance

45:48 Connecting with Pat Hiban

After more than 40 years in commercial real estate, developer, broker, and general contractor Paul Frank shares why he is shifting away from ground-up development and focusing on brokerage and coaching the next generation of operators.

In this conversation, Paul and Saul break down what has changed in development economics, entitlement timelines, and permitting costs. From six-figure permit fees to multi-year approval delays, they explore why demand for certain asset classes is strong while new supply remains constrained.

They also discuss where opportunity still exists in today’s market, including light industrial shortages, commercial condo strategies, and the long-term value of drive-through retail sites.

In this episode, you’ll learn:

• Why entitlement timelines and permitting costs are reshaping development
• How developers can adapt by shifting strategy and roles
• The growing supply-demand gap in light industrial real estate
• Creative value-add approaches like commercial condo conversions
• Why drive-through retail sites remain a resilient investment

If you want a grounded, real-world perspective on what is actually happening in development today, this episode delivers decades of hard-earned insight.

Connect with Paul:

• Email: paul@pdf-usa.com
• Instagram: https://www.instagram.com/paulfrankpdf/
• LinkedIn: https://www.linkedin.com/in/paulfrankpdf/
• Web: https://www.pdf-usa.com/

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This week, Saul sits down with Michael Kuritnik with Kumo Capital for a practical conversation on where AI is actually working in real estate — and where the hype still outweighs the results.

Mike runs a family office with his brother, dad, and mom, and over the past few years they’ve evolved from multifamily into other asset classes while staying focused on technology, underwriting, and operational leverage. In this episode, the conversation centers on real use cases: how AI is helping with underwriting, broker engagement, deal screening, and internal workflows — without pretending the tools are farther along than they really are.

They also shift into a broader investment discussion and compare which asset classes look most attractive heading into 2026.

• Why most AI implementations in business are still failing
• The importance of educating your team before forcing AI into workflows
• How Mike’s team uses Claude, automation, and scrape tools to support underwriting
• Where AI helps with broker response, OM review, and demographic filtering
• Why Argus still matters and how it fits into a hybrid underwriting process
• Mike’s take on flex industrial, agricultural land, and retail in 2026
• Saul’s case for small bay industrial, retail, and one-story office

Instagram: @mkuritnik Website: investkumo.com

If you’re trying to separate AI signal from noise — or figure out which CRE asset classes still offer real opportunity in 2026 — this episode gives you a grounded, operator-level perspective.

In this episode of the Value Builder Podcast, Saul sits down with Nick Terry, founder of Rifle CRE, a Houston-based commercial real estate platform that blends brokerage, investment, construction, and property management into one vertically integrated ecosystem.

Nick started his firm during the chaos of early 2020, pivoting from office tenant representation into small bay industrial investing just as the market began accelerating. What followed was the creation of a unique operating model where brokerage feeds acquisitions, acquisitions create management opportunities, and construction unlocks additional value.

Instead of building a traditional brokerage, Nick built a real estate flywheel—a platform where every service supports the same strategy: acquiring and repositioning small bay industrial properties.

Saul and Nick dive into how this model works in practice and discuss the operational strategies that drive returns.

They cover:

• Why small bay industrial remains one of the most resilient asset classes
• How spec suites and higher-end finishes can dramatically increase rents
• The importance of staggering lease expirations to maximize exit value
• Why brokerage can be the best sourcing engine for acquisitions
• How vertical integration can create a competitive advantage for operators
• The economics behind value-add industrial renovations
• Why some office buildings may present opportunity again at the right basis

Nick also shares how his team recently raised capital for a multi-property industrial fund and why having committed capital allows them to move faster and win deals.

This episode is packed with practical insights for commercial real estate investors, operators, developers, and brokers looking to build scalable real estate platforms.

Rifle CRE Website: https://riflecre.com Instagram: @riflecre LinkedIn: Nick Terry

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