This episode, Saul sits down with Nikita Zhitov to explore what it really means to be a real estate developer in today’s market. Nikita challenges the myth of passive income, sharing why development is a full-contact sport that requires time, risk, and hands-on vision. From creative deal structures to mindset shifts, he walks through the beliefs and behaviors that separate operators from speculators.

You’ll hear:

Why true development is never passive—and why that’s a good thing

How to underwrite with humility and protect downside risk

Why operating partners matter more than spreadsheets

The power of asymmetric risk and what it takes to play the long game

How Nikita defines freedom, purpose, and being “in the game” for real

If you’re drawn to real estate but tired of surface-level advice, this conversation cuts through the noise with grounded truth and hard-won perspective.