Can blockchain make private real estate more accessible? Paul Shannon speaks with Larry Kalis and Tyler Vinson about tokenization for LPs. They cover TRIFs from American Digital Realty, how RE Tokens enables secondary trading after a one year lockup, and what changes for custody, liquidity, and tax reporting. If you know syndications but are new to tokenized assets, this is a simple, practical breakdown.

Key Takeaways:

What tokenization means for LPs, a digital wrapper of your fund or deal interest on a blockchain

Access and diversification with lower minimums and one consolidated K1

Liquidity path using Rule 144 and a secondary marketplace after 12 months

Operations and security, KYC and AML, custodied tokens, fiat or USDC distributions, burn and reissue if lost

Structure and risks, ADR’s fund of funds TRIFs on Stellar vs single asset tokens, tech partner and valuation cadence

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Remember that past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any of the advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

How do serious LPs sharpen due diligence, avoid shiny objects, and stay liquid enough to pounce? In this PassivePockets Pulse Check kickoff, Jim Pfeifer and Paul Shannon welcome new co-host Chris Lopez to go behind the scenes on community-powered due diligence, share their written investing theses, and walk through real deals they’ve funded, across equity and debt, plus the wins, misses, and lessons that are guiding allocations right now.

You’ll hear why sponsors and deals must be vetted on separate tracks, how to post in the forums to actually get useful feedback (do the work first), and what a one-page annual plan looks like when timing is uncertain. Paul breaks down his barbell strategy, favoring newer assets with day-one cash flow, fixed-rate debt, and positive leverage, while Chris lays out “Don’t bet against America,” lots of small checks for diversification, and building both an equity ladder and a debt ladder to solve liquidity timing. We also cover why Class A, Build-to-Rent, and select development fit today’s supply picture, plus portfolio updates: debt funds, self-storage development, A-class multifamily, BTR in Ohio, Colorado development, and a distressed multifamily buy in Omaha.

Finally, we unpack hard lessons from deals gone wrong- GP infighting, alleged commingling/investigations, and a multi-layer ATM Ponzi - and the practical guardrails we’re using now (limit per sponsor, avoid overly broad operators and multi-layer structures, and lean on the community). We close with a sentiment check: more LOIs, hard earnest money returning, and early buyout interest on BTR - why we’re cautiously optimistic (call it a yellow light) and still keeping cash optionality.

Key Takeaways:

How to use the community for real due diligence (and the posting format that gets responses)

The separation between sponsor vetting and deal analysis and why both matter

A simple one-page annual investing plan for capital, asset classes, and operator targets

Paul’s “all-weather” barbell: newer assets, day-one cash flow, fixed-rate/positive leverage

Chris’s “Don’t bet against America,” many small checks, and building equity + debt ladders

Why Class A, Build-to-Rent, and select development can shine as new supply falls off

Recent allocations: debt funds, self-storage development, A-class MF, BTR Ohio, CO development, distressed MF Omaha

Pain points & lessons: GP disputes, alleged commingling/FBI actions, and a multi-layer ATM Ponzi

Risk controls that help: limit exposure per sponsor, start with small first checks, consider fund diversification

Market pulse: more LOIs, hard money back on the table, early PE interest, why it’s still a yellow light for now

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Remember that past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any of the advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

What do billionaires know about investing that the average person doesn’t? In this episode, Paul Shannon sits down with economist, fund manager, and author Bob Fraser, author of Invest Like a Billionaire, to unpack the strategies, asset allocations, and decision-making frameworks of the ultra-wealthy.

Bob explains why billionaires aren’t chasing “hot” trends, they’re looking for asymmetric risk-reward opportunities and sectors that offer long-term compounding. He shares how they think about diversification (and why it’s not about owning a little of everything), why certain private investments are favored over public markets, and how billionaires position themselves to capitalize on economic shifts before they happen.

You’ll hear how Bob applies these principles in real estate, why he’s watching specific macroeconomic signals right now, and the filters investors can use to evaluate opportunities like the ultra-rich — even without a billionaire’s balance sheet.

Key Takeaways:

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Remember that past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any of the advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

We’re back with another episode of Dig In or Delete, where Jim Pfeifer and Paul Shannon react to real investment pitches from their inbox and decide whether each one is worth a deeper look or should be deleted on the spot.

This week’s lineup includes a six-property self-storage deal in Arkansas, a triple-net Starbucks opportunity with a 4.5% cap, and a cash-out refinance pitch for a 68-unit apartment building. Jim and Paul break down the good, the bad, and the questionable, offering LP investors a candid look at how seasoned pros filter their deal flow.

You’ll hear how they evaluate everything from leverage and cap rate to operator communication and downside protection and why most pitches get deleted without a second thought.

Key Takeaways:

How experienced LPs quickly filter incoming investment pitches

Red flags in deal presentations, underwriting, and language

Why triple-net deals aren’t always “passive” or low risk

What makes storage look appealing—and what might be missing

How debt structure and cash-out refinances affect risk profile

Why sponsor transparency is often more important than returns

What to ask before replying to a deal that lands in your inbox

How to build your own “delete” filter to save time and protect capital

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Remember that past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any of the advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

How should LPs evaluate retail real estate deals, especially when the strategy involves stabilized shopping centers and low leverage? In this episode, Paul Shannon is joined by Andy Weiner of RockStep Capital to walk through a real-life deal and answer questions from a panel of passive investors including expert LPs Pascal Wagner and Adam Cranmer.

Andy lays out his firm’s “hometown market” strategy, targeting power centers and neighborhood retail with national tenants in overlooked metros. He breaks down the underwriting, loan structure, and business plan behind a recently acquired asset and why retail investors should pay close attention to tenant quality, lease structures, and local relationships.

Our LP panel gets details on deal terms, downside protection, and risk-adjusted return, offering a front-row seat to the kind of conversation you should be having before wiring your funds.

Key Takeaways:

Disclaimer:

The comments, views, opinions and any forecasts of future events, returns or results expressed in this episode reflect the opinions of the given host or participants (including the personal opinions of PassivePockets employees or contractors, as applicable), are subject to change without notice, do not reflect the views of PassivePockets or its affiliates, may not reflect actual investment results, are not guarantees of future events, returns or results and are not intended to provide financial planning, investment advice, legal advice or tax advice. The accuracy, completeness or suitability of the information discussed in this podcast, including any comments, views, opinions, forecasts, graphs, charts, ratings, reviews, videos, and other audio and/or visual aids cannot be guaranteed, are not reviewed by PassivePockets, are provided for informational purposes only, and should not be solely relied upon in making an investment decision. PassivePockets receives compensation from sponsors in exchange for profiling sponsors and/or their sponsored deals in this episode; however, such paid advertisements shall not be construed as an endorsement, testimonial, or recommendation by PassivePockets to invest in any sponsor, investment strategy or investment opportunity. Investing in real estate is inherently risky and suitable only for sophisticated and qualified investors. Prospective investors should consult with their own investment advisors, financial advisors, and tax advisors, as applicable, in connection with any decision to invest.

What’s better: FIRE or “flow”? Owning rentals or investing in syndications? Jim Pfeifer and Scott Trench (former CEO of BiggerPockets) go head-to-head in a friendly but fiery debate about cash flow, control, diversification, and what financial freedom really looks like.

Scott explains why, even as a FIRE advocate, he can’t bring himself to follow the traditional 4% withdrawal rule—and why most retirees don’t either. He shares the logic behind his personal portfolio strategy, which includes mostly unlevered Denver real estate, plus a small allocation to syndications and debt funds.

Jim brings a counterpoint: for investors who aren’t handy or don’t want to actively manage properties, passive syndications can offer better risk-adjusted returns and geographic diversification. Together, they explore how goals, personality, and life stage shape the right mix between active and passive investing.

If you’ve ever struggled to decide between owning properties or being a limited partner, this episode is for you.

Key Takeaways:

Why most FIRE adherents don’t actually draw down their portfolios

The psychological and practical barriers to decumulation

What makes real estate cash flow feel “spendable” vs. stock dividends

Why Scott prefers unlevered rentals in Denver

When syndications make sense—even for hands-on investors

The power of credit/debt funds (especially inside an IRA)

The risks of concentration vs. the benefits of control

How your skills, lifestyle, and market shape your investing strategy

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Remember that past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any of the advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

What happens when a well-known multifamily operator shifts focus to a completely different asset class? In this episode, Jim Pfeifer and Paul Shannon are joined by real estate investor and Praxis Capital founder Brian Burke to explore his pivot into assisted living, memory care, and skilled nursing facilities.

Brian shares why he's stepped away from multifamily, for now, and what signals led him to target the senior housing sector. He explains why this niche is coming out of a bottom, how it differs from traditional real estate, and what makes triple-net lease investments in this space both stable and lucrative.

The discussion covers risk, underwriting operators, HUD financing, and exit strategies, offering passive investors a crash course in how to assess and potentially capitalize on a misunderstood asset class.

Key Takeaways:

Why Brian Burke is “done with multifamily for now”

What made assisted living a timely pivot

How triple-net lease structures reduce landlord risk

The importance of operator selection and lease coverage

How HUD financing boosts returns and mitigates risk

Exit strategies ranging from lease buybacks to portfolio sales

Where this strategy fits on the broader risk spectrum

What passive investors should ask before investing in senior housing

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Remember that past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any of the advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

What do experienced real estate investors do when deals don’t pencil, the capital stack is shifting, and the data feels contradictory? In this episode, Jim Pfeifer and Paul Shannon are joined by real estate investor, CPA, and UCLA professor Eric Sussman to explore how sophisticated LPs should think about today's economic signals, capital markets, and sponsor behavior.

Eric brings decades of experience across syndications, private equity, and academia to this conversation. He dives into how inflation data, rate policy, and lending trends are impacting both sponsors and investors and why understanding the real risk lies beyond cap rates and projected IRRs. The hosts and Eric discuss debt mismatches, how institutional players are positioning, and why trust and underwriting discipline matter more than ever.

Plus, Eric shares his candid take on why some deals should fail and why that’s ultimately healthy for the market.

Key Takeaways

How to interpret mixed signals in the real estate and macroeconomic data

Why sponsors are struggling to refinance and recapitalize

The impact of capital stack misalignment on passive investors

Why some LPs aren’t getting paid—even when the deal is “performing”

What Eric looks for in a sponsor beyond the deck

How institutional players are preparing for distress

Why a wave of failed deals could actually benefit long-term investors

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Remember that past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any of the advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

Join the Active to Passive Cohort (Starts July 28):

https://get.biggerpockets.com/active-to-passive-investing/

Passive Pockets members save $100!

Find your promo code here:

https://passivepockets.com/forums-listing/discussion/5-week-cohort-starts-7-28-active-to-passive-portfolio-transformation-cohort/

Contact Chris Lopez:

[email protected]

Is your real estate portfolio truly aligned with your goals or is it just what you've accumulated over time? Chris Lopez, investor, educator, and founder of the Active to Passive cohort, joins Passive Pockets to share why he pivoted away from being a hands-on landlord and how he's helping others rethink their equity, their time, and their strategy.

In this episode, you’ll learn how to evaluate return on equity versus return on investment, what it means to “optimize” your portfolio in today’s market, and when selling, refinancing, or simply holding might be the smartest move. Chris also shares his step-by-step framework for running an annual diagnostic on your portfolio and how to use that analysis to decide if a shift toward passive investing makes sense.

Plus, stick around as Chris breaks down the five pillars of passive investing diversification and offers a sneak peek into his upcoming July cohort for experienced landlords exploring a hands-off path forward.

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Remember that past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any of the advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

Why Chris sold off half his Denver portfolio despite great returns

The difference between return on investment and return on equity

How to run an annual “portfolio diagnostic” to evaluate performance

When a 1031 exchange might not be the most efficient move

How to diversify across operators, strategies, markets, and capital stack

The mental shift required to give up control—but gain peace of mind

What Chris’s Active to Passive cohort includes, and who it’s for

Real estate deal flow is back but is it better? With inboxes full of syndications boasting high returns and “rare” opportunities, passive investors are under more pressure than ever to separate substance from spin. In this episode of Dig In or Delete, Jim Pfeifer and Paul Shannon return to scrutinize real deals sent straight to their inboxes, highlighting red flags, potential gems, and everything in between.

From a 9-unit Seattle multifamily deal with fuzzy cap rate math to a BJ’s Brewhouse ground lease next to a dying mall, Jim and Paul weigh in on market dynamics, underwriting red flags, and sponsor credibility. You’ll hear honest, in-the-moment reactions to deals in Dallas, San Antonio, Louisiana, and more, including a ground-up development next to a new minor league baseball stadium. No hypotheticals. No softballs. Just seasoned investors making real-time calls on actual opportunities.

Plus, stick around as Jim and Paul reveal which marketing tactics instantly make them hit “delete” and which details get them to take a second look.

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Remember that past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any of the advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

Takeaways:

Why cap rate discrepancies can be a dealbreaker

The risk of “one-restaurant” triple net leases

When development next to a baseball stadium might make sense

How aggressive return projections can backfire in a pitch

The red flags that come with blind pool funds and asset class hopping

Why local insight trumps national data in real estate investing

What to ask when a sponsor promises high returns on a stabilized deal