Real Returns

What happens when a number-crunching engineer discovers his biggest mistakes all have one thing in common?

In this episode of Real Returns, hosts Andrew Reichert and Dan Croce sit down with Vishal Gupta, tech entrepreneur and former CEO of Seclore, to explore his 25-year journey from IIT Bombay to building global cybersecurity companies serving clients like American Express, GM, and Aramco across 35 countries. Vishal reveals why angel investing became his most expensive hobby, the critical transition from engineering logic to leadership empathy, and how holding onto the wrong people too long taught him more than any success ever could. From raising capital to landing contracts bigger than funding rounds, Vishal shares his investment philosophy centered on three filters: people you enjoy working with, technology with transformative potential, and impact that matters. Learn why AI will make people more important (not less), how saving 5-7% of global manufacturing waste could reshape entire industries, and what gets Vishal energized every morning about making the digital world a safer place for everyone, especially the elderly vulnerable to cybercrime.

Timestamps:

00:00 - Opening Segment

01:00 - Vishal's Background: From IIT Bombay to Global Tech Entrepreneur

02:55 - The Expensive Hobby of Angel Investing

04:00 - The Biggest Lessons: Every Mistake Was About People

05:15 - Why Hiring Mistakes Are Getting More Expensive in the AI Era

07:10 - From Engineer to Leader: Logic to Empathy

09:00 - Why People Problems Don't Follow Engineering Formulas

10:10 - Investment Criteria: People, Technology, Impact

13:00 - Real Impact Examples: Manufacturing Waste and Cybersecurity

15:50 - Making the Digital World Safer

17:00 - Lightning Round: Customer Contracts as Funding, Ethiopian Food, and Sleep

20:10 - Content Recommendations and Young Entrepreneur Energy

22:10 - Closing Segment

Key Quote: "I went from a number crunching engineer to, I would say, a pretty people oriented leader..." - Vishal Gupta

Connect with Vishal Gupta: LinkedIn: https://www.linkedin.com/in/jiguptaji/

Subscribe to Real Returns wherever you listen to podcasts! For more insights on impactful investing and alternative asset strategies, visit our website to learn more about creating real returns through real estate.

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How does an AI expert from an intelligence background solve multifamily's data burnout problem?

In this episode of Real Returns, hosts Andrew Reichert and Dan Croce sit down with Liran Gabbay, CEO and co-founder of Muvan AI, to explore how he's revolutionizing multifamily asset management through artificial intelligence. Liran reveals the Monday morning report that changed everything, why asset managers deserve better than buried Excel spreadsheets, and how his platform is giving finance professionals back the jobs they were actually meant to do. From an elite intelligence unit to building an AI co-pilot for real estate operators, Liran shares his journey of turning burnout into breakthrough, why the real threat isn't AI replacing jobs but not having AI to help you succeed, and how maintaining culture while scaling from 6 to 20+ employees remains his biggest challenge. Learn how Muvan AI is transforming reactive data analysis into proactive insights, building a customer community that shares best practices, and why making work fun isn't just a nice-to-have; it's the foundation of lasting impact.

Timestamps:

00:00 - Opening Segment

01:00 - Liran's Background and Introduction to Muvan AI

03:00 - From Intelligence to Real Estate Technology

04:45 - The Problem: Paper-Based Systems in a Digital Age

05:50 - The Genesis Story: One Ugly Excel Sheet

08:10 - AI as Empowerment, Not Replacement

09:50 - Getting Asset Managers the Jobs They Deserve

12:10 - The Joy of Building: People and Product

15:05 - Scaling While Having Fun

17:00 - Lightning Round

20:00 - Closing Segment

Key Quote:

"My biggest challenge as a CEO is to keep the same culture that got us from zero to six, from six to 12, from 12 to 20 without missing anyone on the road." - Liran Gabbay

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Connect with Liran Gabbay: LinkedIn: https://il.linkedin.com/in/liran-gabbay-proptech-muvan

Website: Muvan.ai

Subscribe to Real Returns wherever you listen to podcasts! For more insights on impactful investing and alternative asset strategies, visit our website to learn more about creating real returns through real estate.

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How does a CFA from Canada build an $800 million multifamily empire in Texas? In this episode of Real Returns, hosts Andrew Reichert and Dan Croce sit down with Omar Khan, founder and managing partner of Boardwalk Wealth, to explore his fundamentals-first approach to multifamily investing. Omar reveals why he compares real estate acquisition strategy to dollar cost averaging in the stock market, his philosophy on bringing "a gun to a knife fight" through supply-starved market selection, and how his firm has taken over 1,800 distressed units in the last 16 months. From escaping Canada's high tax burden to building a 5,000-unit portfolio across the Sunbelt and Midwest, Omar shares the importance of timing, diversification, and why treating residents (not tenants) with respect isn't just good ethics—it's good business. Learn how tax efficiency through distressed acquisitions can deliver $2-3 of depreciation for every dollar invested, and why the attributes that get you to success aren't the same ones that keep you there.

Timestamps:

00:00 - Opening Segment

01:35 - Omar's Background and Introduction to Boardwalk Wealth

03:30 - The Genesis: From CFA to Real Estate Entrepreneur

06:40 - The First Deal: 138 Units in Jacksonville

08:40 - Building a Company vs. Just Doing Deals

10:35 - Tax Efficiency and the Canadian Tax Burden

12:05 - Advanced Tax Strategies in Distressed Acquisitions

12:20 - Stakeholders and Impact: A Three-Legged Stool Approach

15:10 - Fundamentals-First Philosophy: Supply-Starved Markets

18:05 - The Importance of Timing and Dollar Cost Averaging

20:10 - Lightning Round

Key Quotes:

"A lot of real estate, like a lot of life is timing. " - Omar Khan

"What gets you from poverty to success is not the same set of attributes that keeps you successful." - Omar Khan

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Connect with Omar Khan:

Website: boardwalkwealth.com

Recommended Book:

Towers of Debt - The story of the Reichman family Subscribe to Real Returns wherever you listen to podcasts for more insights on impactful investing and alternative asset strategies. Visit our website to learn more about creating real returns through real estate and alternative investments.

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How does a PhD student turn university research into a $20M exit? In this episode of Real Returns, host Andrew Reichert sits down with Dr. Michael Johnson, President of the New Jersey Innovation Institute and former biotech CEO, to explore intellectual property as an often-overlooked asset class. Michael reveals his journey from graduate student to successfully commercializing a Rutgers spin-out that worked with all top 20 pharma companies on critical drug discovery programs including COVID-19 and Zika virus treatments. Discover why universities have become America's primary source of breakthrough innovations, how the venture studio model is solving the "founder problem" in New Jersey, and practical strategies for investors looking to gain exposure to IP-based ventures. From PFAS testing technology to defense manufacturing, Michael shares the realities of bridging the gap between academic research and commercial products—and why patience is the secret ingredient to innovation.

Timestamps:

00:00 - Opening Segment

01:20 - Michael's Non-Linear Journey from PhD to CEO

06:05 - Intellectual Property: The Constitutional Asset Class

08:00 - How the Venture Studio Model Works

10:50 - The Rutgers Spin-Out Story: From Students to $20M Exit

13:15 - The Current State of University Funding and Innovation

16:00 - Where Innovation Actually Happens

18:35 - Academia vs. Private Sector: Who's Really Innovating?

20:20 - How Investors Can Access IP Opportunities

22:15 - Lightning Round

Key Quotes:

"Intellectual property is what keeps the country moving forward" - Dr. Michael Johnson

"To make one investment, you have to look at a thousand companies." - Dr. Michael Johnson

"We've done a bad job of actually doing innovation for Americans. When you think of pharma, you think of six and seven figure drugs that nobody can afford." - Dr. Michael Johnson

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Connect with Dr. Michael Johnson:

LinkedIn: https://www.linkedin.com/in/michael-johnson-ph-d-6839b724/

New Jersey Innovation Institute: njii.com

Michael's Book: 1percentdad.com

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Subscribe to Real Returns wherever you listen to podcasts for more insights on impactful investing and alternative asset strategies. Visit our website to learn more about creating real returns through real estate and alternative investments.

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How does someone with an unaccredited Bible degree generate six figures by age 23 and build a podcasting empire? In this episode of Real Returns, hosts Andrew Reichert and Dan Croce sit down with Travis Chappell, podcaster, entrepreneur, and investor, to explore his unconventional journey from door-to-door sales to podcast empire. Travis reveals why he believes Gen Z and millennials must "earn their way to retirement" rather than save their way there, his philosophy on creating value before asking for compensation, and how investing in yourself can deliver 10x returns compared to traditional investments. From growing up in a religious cult to living in Las Vegas, Travis shares the mindset shifts and strategies that helped him build wealth through relationships, skills, and scalable side hustles.

Timestamps: 00:00 - Opening: The Value-First Philosophy 02:45 - Travis's Background: From Cult to College 06:15 - The Podcasting Journey Begins 07:20 - Why Earning Beats Saving for Wealth Building 11:00 - The Problem with Traditional Financial Advice 14:00 - Adding Value to Your Current Job 16:20 - Side Hustle Strategy and Scalability 20:45 - Investing in Yourself: The Ultimate ROI 22:15 - AI and Future-Proof Skills 26:50 - Principles vs. Platforms 28:25 - Lightning Round

Key Quotes: "People think they get paid for their time, but they don't. We all get paid for the value we bring to the marketplace. Bar none. That's it." - Travis Chappell

"You are the number one investment you should be making and you're the only investment that you can make that will always have a return." - Travis Chappell

"We have to earn our way to retirement. We're not gonna be able to save our way to retirement." - Travis Chappell

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Connect with Travis Chappell: Podcasts: "Travis Makes Money" (daily) and "Travis Makes Friends" (weekly) Instagram: @TravisChappell

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Subscribe to Real Returns wherever you listen to podcasts for more insights on impactful investing and wealth building strategies. Visit our website to learn more about creating real returns through real estate and alternative investments.

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What does it take to disrupt a $4 trillion industry while building generational wealth? In this episode of Real Returns, host Andrew Reichert sits down with Grant Cardone, founder of Cardone Capital and New York Times bestselling author, to explore his journey from a $3,000 single-family home investment to managing $5 billion in assets. Grant shares his revolutionary approach to merging Bitcoin with institutional-quality real estate, his prediction that rents will double in 15 key markets over the next decade, and why he believes the REIT industry is ripe for disruption. From overcoming addiction to building an empire, Grant reveals the mindset and strategies behind creating lasting impact through real estate investing.

Timestamps:

00:00 - From Louisiana to Real Estate Empire

02:30 - The $200 Cash Flow That Changed Everything

04:45 - Why Single Family Failed & Multifamily Won

07:25 - Converting Fiat Cash Into Real Assets

09:05 - The Bitcoin + Real Estate Strategy Explained

11:30 - 15 Markets Where Rents Will Double

14:40 - The $4 Trillion Debt Problem Nobody's Talking About

17:45 - Why Insurance Is Killing Real Estate

19:20 - Legacy & Disrupting the REIT Industry

22:55 - Lightning Round: Personal Wins & Growth

Key Quotes:

"When it's right, it's so obvious. You don't have to explain it. You don't have to sell it." - Grant Cardone

"Real estate never corrects until there's a debt problem." - Grant Cardone

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Connect with Grant Cardone:

Website: https://www.cardonecapital.com

Search "Grant Cardone" online for social media and content

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Schedule a call with our investment team: https://www.birgo.com/capital/contact

Connect with Birgo Capital on LinkedIn for more market insights: / birgocapital

Visit our website https://www.birgo.com/ to learn more about High-Quality Recession Resistant Assets for the Everyday Investor

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What does it take to create a lasting impact in real estate while staying grounded through personal and professional challenges?

In this special season finale of Real Returns, hosts Andrew and Daniel reflect on the highlights of Season 6 and share the most meaningful lessons from eight diverse guests. From affordable housing innovation and sustainability to land investing and financial education for kids, this episode explores the values behind real estate decisions—and the people who are pushing the industry forward. With transparency, humor, and a deep sense of purpose, Andrew and Daniel unpack what they've learned from leaders who combine mission with execution.

[00:01 - 04:53] Reflecting on Resilience

• The importance of enduring life's unexpected challenges while leading a purpose-driven business.

• Why Birgo Properties uses the rhino as a symbol for thick-skinned perseverance.

• The significance of learning from failure and coming back stronger.

[04:54 - 08:17] Rethinking Sustainability with Ed Matthews

• Lessons from workforce housing projects that incorporate solar panels.

• Why true impact often requires upfront capital and a long-term mindset.

• What makes sustainability viable in real estate despite geographical challenges.

[08:18 - 12:27] Ownership, Community & Mobile Home Parks

• Kevin Bup's unique approach to mobile home park investing and community building.

• Creating ownership mindsets even when tenants don't own the property.

• The need to prioritize shared spaces and resident-driven improvements.

[12:28 - 16:00] | Raw Land & Real Value with Mark Podolsky

• Exploring land as an underutilized asset class.

• The link between passive income and personal freedom.

• Comparing land with gold—and why productivity matters.

[16:10- 20:43] | Global Impact, Kids' Finance & Future Leaders

• Lessons from Gavin Gallagher's rise, fall, and rise again in Irish real estate.

• Alpesh Parmar's children's finance book and the importance of early financial literacy.

• Insight into next-gen leadership with Arun Gupta and Alicia Hill.

Key Quotes:

"Life throws torpedoes at you, and you just have to be able to withstand them." - Andrew Reichert

"There's a false dichotomy between doing good for society and making money" - Daniel Croce

Visit our website https://www.birgo.com/ to learn more about High-Quality Recession Resistant Assets for the Everyday Investor

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What does it take to invest in real estate without compromising affordability for working families?

In this episode, Andrew and Daniel welcome Alecia Hill, Vice President and Portfolio Manager at FCP, to discuss her work in the affordable and workforce housing sector. Alecia shares how FCP approaches impact investing through long-term affordability preservation, essential housing, and resident services, proving that it's possible to generate returns while addressing the housing crisis. With a background spanning policy, community development finance, and real estate, Alecia explains how her interdisciplinary experience shapes her investment philosophy. She also opens up about career transitions, mentorship, and why institutional capital is increasingly interested in this often-overlooked housing segment.

[00:01 - 06:30] The Missing Middle

• What defines the gap in the U.S. housing market

• Why 60–80% AMI households are underserved

• The significance of "essential housing" in today's economy

[06:31 - 12:26] Balancing Impact and Returns

• How FCP integrates resident services with real estate

• What a preservation-focused investment strategy looks like

• Why holding assets longer can improve community outcomes

[12:27 - 18:58] Understanding Affordability with Data

• Why long-term business planning must consider AMI growth

• What tools help align rents with target demographics

• How CRA-aligned frameworks keep affordability in check

[18:59 - 24:06] Capital, Policy, and Execution

• What kind of capital partners align with impact goals

• Why policy knowledge is critical in real estate finance

• What institutional interest signals about this sector

[24:07 - 29:08] Mentorship and Growth Paths

• What Alecia's nontraditional path—from the arts to real estate—reveals about reinvention

• Why mentoring early career professionals is a priority

• How global perspectives are shaping her personal growth

Connect with Alecia!

https://www.linkedin.com/in/missaleciahill

Key Quotes:

"We believe in the asset class as a sound investment, but have the benefit of being able to do well while doing good." - Alecia Hill

"You don't get where you're going alone. I want to be that resource for someone the way others were for me." - Alecia Hill

Visit our website https://www.birgo.com/to learn more about High-Quality Recession Resistant Assets for the Everyday Investor

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How would your career choices change if doing good for society and doing well financially weren't opposites?

In this episode, Arun Gupta, CEO of NobleReach and author of Venture Meets Mission, joins Andrew and Dan to talk about bridging the gap between venture capital, public service, and societal change. Drawing from his experience in private equity, academia, and government collaborations, Arun explains how the narrative around public vs. private sector careers is outdated—and how his organization is building pathways for the next generation to serve and lead. He unpacks how Noble Reach is placing top tech talent in government roles, partnering with entrepreneurs to commercialize federally funded research, and reshaping how universities teach service and innovation.

[00:01 – 05:00] Mission Meets Capitalism

• The importance of steering capitalism toward public good

• How venture capital can be applied to solve societal challenges

• Why profit and purpose aren't mutually exclusive

[05:01 – 10:33] Solving the Talent Gap in Public Service

• The need to make government service more prestigious for young people

• Why respect from peers matters more than compensation

• The significance of reframing public service as a career enhancer

[10:34 – 15:18] From Research to Market

• How federally funded research can be commercialized through partnerships

• Why operation-style collaboration between sectors should be normalized

• The importance of giving research more "at-bats" instead of shelving it

[15:19 – 20:33] Measuring Impact, Not Just Intent

• The importance of tracking scholar placement and career progression

• What success looks like for research commercialization

• Why academic curriculum reach matters in changing perspectives

[20:34 – 24:28] Rebuilding Trust Through Dual Citizenship

• How creating dual-sector citizens fosters long-term civic engagement

• The importance of treating public servants with dignity

• Why understanding both worlds can reduce distrust and stereotypes

Connect with Arun!

[email protected]

Key Quotes:

"This isn't about doing good or doing well. It's about how we point capitalism toward solving societal problems." - Arun Gupta

"We need more dual citizens—people who understand both the public and private sectors—because it's easy to demonize what you've never been part of." - Arun Gupta

Visit our website https://www.birgo.com/to learn more about High-Quality Recession Resistant Assets for the Everyday Investor

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How can your investments create both financial return and meaningful community impact?

Entrepreneur and investor Alpesh Parmar joins the Real Returns podcast to share how a layoff in 2009 sparked his journey into real estate—and why impact now drives every decision he makes. Alpesh discusses his evolution from buying turnkey rentals to investing in mobile home parks and RV parks, emphasizing how he balances ROI with what he calls ROT: Return on Time. He also shares the story behind co-authoring Growing the Money Tree for Kids, a book that turns financial concepts into digestible lessons for children. Whether you're wondering how to invest out of state, why impact matters in real estate, or what it looks like to teach your kids about money, this episode delivers.

[00:01 - 05:24] Laid Off and Leveling Up

• The significance of not having passive income when crisis hits.
• Why Alpesh gravitated toward real estate despite no background in investing.
• What led him to begin exploring other income streams before narrowing his focus.

[05:25 - 10:16] Real Estate Without Borders

• The importance of turnkey providers in starting out.
• Why he shifted from buying single-family homes to larger multifamily deals.
• The need for strong partnerships and local teams in remote investing.

[10:17 - 15:27] Measuring More Than ROI

• What ROT (Return on Time) means in practice.
• The importance of aligning investments with personal values.
• Why his mobile home park turnaround is his proudest achievement.

[15:08 - 20:48] Building Real Community

• What a strong property manager can do to maintain community connection.
• Why social events like potlucks build more than just rapport.
• The significance of creating ownership pride among residents.

[20:49 - 24:30] Teaching Kids to Grow Money Trees

• The need for simplified, relatable financial education for children.
• Why involving kids in writing made them grasp financial concepts.
• What the book covers—from stocks to silver coins—and how it became a resource.

Connect with Alpesh!

https://moneytreebooks.com/

Key Quotes:

"Before, it was all about ROI. Now, it's also about the kind of impact I can make through that investment."- Alpesh Parmar

"Now I won't invest in stocks like cannabis or alcohol. If I don't believe in it, I won't fund it." - Alpesh Parmar

Visit our website https://www.birgo.com/to learn more about High-Quality Recession Resistant Assets for the Everyday Investor

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