SF Commercial Property Conversations

From Bear Stearns to mobile home parks. Ridaa Murad spent years on Wall Street, then moved to California to own and run real estate.

Bruce Bean and Ridaa talk about why manufactured housing may be the last affordable way to own a home, why almost no new parks get built, how big money moved into the space, and how Ridaa finances mission critical real estate for public companies with 30 year leases.

Connect with Ridaa: [email protected]

Watch the video on YouTube: https://youtu.be/yh3a7GJkf88

Want to be a guest? https://sfcommercialconversations.com/guest

Old drawings in a box will not help you renovate. Doug Higgins learned that the hard way.

Doug managed resorts for a private equity group in San Diego. When it was time to renovate, all they had was a wheelbarrow full of old paper drawings. So he started Havitar, a company that turns real buildings into exact 3D models using laser scanners and drones.

In this episode, Bruce Bean and Doug talk about why old drawings are not enough, how exact a scan really is, how AI is starting to read old plans, and the one mistake that would have paid for a full 3D model.

Connect with Doug: https://havitar.com | [email protected]

Watch the video on YouTube:  https://youtu.be/oEoFK25gVNQ

Want to be a guest? https://sfcommercialconversations.com

Want to invest in real estate without dealing with tenants, repairs, and daily property problems? There may be a better way.

In this episode of SF Commercial Property Conversations, host Bruce Bean talks with Vaibhav Puranik, a technology professional turned real estate investor, syndicator, and author of Own Real Estate, Not the Headaches.

Vaibhav shares how an unexpected experience managing a foreclosed condo led him into real estate investing. What started with one rental property grew into a career that includes five multifamily syndications, with investments in California and Oregon.

Bruce and Vaibhav explore how real estate syndications allow people to invest in larger properties without taking on the daily work of being a landlord. Vaibhav also explains why he wrote his book to help busy professionals better understand passive real estate investing.

One of the most interesting parts of their conversation is how artificial intelligence is changing real estate. Vaibhav shares how tools like ChatGPT can help investors review property documents, study projected returns, and save time on property management tasks.

They also discuss what makes a good multifamily market, why local jobs and rental income matter, and where Vaibhav sees new investment opportunities.

In this episode, you'll learn about:

How Vaibhav went from working in tech to owning rental properties and leading real estate syndications.

What passive real estate investing means and how syndications work.

How AI tools can help investors study real estate deals.

Why jobs, local income, and rental demand matter when choosing a market.

What Vaibhav sees in California, Boise, and other multifamily markets.

Why patience and careful research matter in today's real estate market.

About Vaibhav Puranik

Vaibhav Puranik is a real estate investor, syndicator, technology professional, and author. He has participated in five multifamily syndications and owns rental properties of his own. His book, Own Real Estate, Not the Headaches, helps everyday professionals learn how to evaluate passive real estate investments and use modern AI tools to make informed decisions.

How do real estate investors find the money they need to make deals happen? And how can AI help them save time and work smarter?

In this episode of SF Commercial Property Conversations, host Bruce Bean talks with Maxim Shapiro of Novateur Capital about raising money, finding lenders, and using AI in commercial real estate.

Maxim has worked in real estate since 2006. He started in private equity, moved into lending, and later opened his own business in California. Today, he and his partner help real estate owners and developers across the country find the debt and equity they need for their projects.

Finding Money for Real Estate Deals

Maxim explains why getting a bank loan can be harder in California than on the East Coast. He shares how private lenders and debt funds help fill that gap, especially for projects that need more work or carry more risk.

He also talks about what happens when older loans come due at higher interest rates. While some investors worry about a wave of troubled properties, Maxim believes many lenders would rather work with borrowers than take properties back.

Using AI to Save Time

One of the most interesting parts of the talk is how Maxim uses AI tools like Claude to run his business.

AI helps his team build loan packages, create financial models, track emails, and manage replies from lenders. Work that once took hours can now take much less time.

For a small business, that means more time to help clients and find new deals.

Looking Ahead

Despite higher interest rates and changes in the economy, Maxim is hopeful about the future of commercial real estate. He sees plenty of money looking for good projects and investors who are ready to move forward.

Whether you own property, develop real estate, or just want to learn how deals get funded, this episode offers a useful look at today's market.

Can making people laugh help you grow your real estate business? Chris Roth thinks so! In this episode of SF Commercial Property Conversations, host Bruce Bean talks with Chris about how funny videos, real connections, and being yourself can help commercial real estate brokers stand out.

Chris is an industrial real estate broker with Lee & Associates in San Diego County. He has worked in commercial real estate since 2006. His career began with a simple idea: he wanted a job where he could meet people, get out of the office, and make his own schedule.

Over the years, Chris has learned that success in real estate is about more than knowing buildings and closing deals. It's about building trust and making people feel good about working with you.

Chris shares how his team started making real estate videos to help people find them online. At first, they made videos full of facts and market news. But when they posted a funny video of their mistakes and bloopers, people loved it!

That led to a new idea: make videos that help people laugh while showing what life as a real estate broker is really like.

Bruce and Chris also talk about cold calling, helping new agents, and why being yourself is one of the best ways to win trust.

What does it take to build a lasting career in commercial real estate? For Jesus Henao, it starts with hard work, discipline, and learning from the right people.

In this episode of SF Commercial Property Conversations, host Bruce Bean talks with Jesus Henao about his journey from serving in the Marine Corps to building a successful commercial real estate career spanning more than 30 years.

From the Marines to Real Estate

At just 17 years old, Jesus joined the Marine Corps to find a better path in life. After four years of service, including eight months in the Gulf War, he went to college at USC and later earned a master's degree in real estate development from Arizona State University.

His career took an unexpected turn when he joined Marcus & Millichap as a marketing assistant. There, he worked alongside top-producing agent John Walsh, who taught him the value of hard work, discipline, and staying focused.

The Challenges of Today's Real Estate Market

Jesus shares his views on the commercial real estate market in California and Utah. He explains how rising expenses, higher loan costs, taxes, and rent control can make it harder for property owners to earn a profit.

He also talks about why some investors are looking beyond California for new opportunities.

How AI Is Changing Commercial Real Estate

One of the most interesting parts of the conversation is how Jesus uses artificial intelligence in his daily work.

From reviewing long loan documents to checking lease agreements and writing property descriptions, Jesus explains how tools like ChatGPT and Claude are helping his team save time.

But he makes one thing clear: technology cannot replace the personal relationships that make real estate deals happen.

Meet Jesus Henao

Jesus Henao is a commercial real estate professional with more than 30 years of experience. His team focuses mainly on multifamily investment properties, serving clients in California and Utah. He also works with commercial properties, investment portfolios, and land development opportunities.

What if you could own a beautiful vacation home in France, Italy, or Spain without paying for the whole house?

In this episode of SF Commercial Property Conversations, host Bruce Bean talks with Don Spradlin, founder of Joie de Vivre Homes, about a new way to own a second home in Europe through fractional ownership.

After 40 years in real estate and 20 years raising money for nonprofits, Don found a way to bring together two things he loves: real estate and travel.

His company helps people share the cost of owning beautiful homes in some of Europe's most popular places.

Don explains how buyers can own a one-eighth share of a vacation home instead of buying the whole property.

Unlike a typical timeshare, owners hold a share in the home through a legal ownership structure. They also have a say in how the property is managed and how much is spent on its care.

Don shares how his company handles home purchases, schedules visits, and helps owners enjoy their time abroad.

Bruce and Don talk about why sharing a vacation home can make sense for people who only travel to Europe a few months each year.

They discuss the difference between fractional ownership and timeshares, how owners choose their vacation dates, and how shared costs are managed.

Don also talks about the homes his company is offering in the south of France, Nice, Lake Como, and Barcelona, along with plans to explore more locations in Italy, Spain, and even Japan.

One of the best parts of the conversation is Don's view of travel. He believes having a home base abroad lets people feel like part of a local community instead of just being tourists.

Spaces that sat empty for years are finally filling up. Bruce Bean has been in Bay Area commercial real estate since 1990, and he says things are "poppin'."

In this October 2026 update, Bruce covers:

Want to talk to Bruce about leasing, selling or managing a commercial property? Call him at 650-888-6792 or email [email protected].

What if a college campus could become a place to live for your whole life?

In this episode of SF Commercial Property Conversations with Bruce Bean, Bruce talks with Skylar Skikos, founder of Story in Place, about a fresh approach to real estate development. Skylar is working to turn places into communities where people can connect, learn, and build a meaningful life.

Skylar spent his first decade in real estate private equity and his second decade working on entrepreneurial hospitality ventures. He later served as a partner and head of development with Chip Conley’s Modern Elder Academy. In 2025, he started Story in Place, a boutique development studio focused on creating places with “stories worth living.”

A major focus of the conversation is Skylar’s idea of turning college campuses into intergenerational collegiate villages. Instead of separating students from everyone else, these communities could bring students, families, empty nesters, and other residents together.

Skylar shares details about a former college campus that Story in Place is reimagining. The plan includes clustered homes, a former chapel transformed into a library and community hub, a creative arts center, and a partnership with a micro-college that would bring an active student body and classes to the community.

Bruce and Skylar also discuss two residential projects in Northern California. In Sonoma, Skylar plans to build homes around a historic property that would become a neighborhood restaurant and gathering place. Another project in Sebastopol will use its location near parks, schools, trails, and downtown amenities to encourage a more connected and walkable way of life.

Throughout the conversation, Skylar explains why his hospitality background has shaped his approach to development. Instead of creating a great experience that lasts for only a weekend, he wants to bring some of the best parts of hospitality into everyday residential life.

They also talk about community involvement, density, traffic, parking, placemaking, human-scale development, and why listening to local residents early in the development process can lead to better projects.

Gary Lipsky: What Investors Get Wrong About Multifamily Syndications

A projected return can look great on paper. But Gary Lipsky says one of the biggest mistakes investors make is focusing on the numbers instead of the person running the deal.

In this episode of SF Commercial Property Conversations with Bruce Bean, Bruce talks with Gary Lipsky of Break of Day Capital about multifamily investing, syndications, asset management, and what investors should look for before putting money into a deal.

Gary shares how he moved from owning other businesses and investing in smaller real estate projects to buying a 44-unit property in Tucson for $1.65 million. Today, his group manages investments representing more than 1,600 units and has built a strong presence in the Arizona multifamily market.

Gary explains why his team stays focused on a small number of markets instead of chasing deals across the country. By constantly studying Phoenix, Tucson, and other Southwest markets, his team builds thousands of data points that help them recognize opportunities and move quickly when the right property appears.

Bruce and Gary also discuss one of the most important lessons Gary has learned as an investor: do your own due diligence.

Gary explains why investors can get into trouble when they chase projected IRRs or invest simply because a friend recommends a deal. He shares his own experience of investing without doing enough independent research and losing his investment. His advice is to look closely at the sponsor and operator, their systems, market experience, track record, and knowledge of the asset class.

The conversation also covers today’s multifamily market. Gary discusses higher cap rates, refinancing challenges, lender relationships, and why he believes current pricing is creating opportunities for buyers who have the capital and patience to invest.

Gary also shares how his team improves multifamily properties. Rather than relying only on expensive unit renovations, they may improve landscaping, pools, barbecue areas, dog parks, package lockers, staffing, and the overall resident experience.

Finally, Bruce and Gary explore how AI is beginning to change real estate operations. Gary’s team is using AI for communication, property analysis, identifying budget anomalies, leasing, maintenance requests, and tenant collections.

About Gary Lipsky

Gary Lipsky is a multifamily real estate investor and operator with Break of Day Capital. His team focuses heavily on Arizona and the Southwest and manages investments representing more than 1,600 multifamily units.

Gary is also the author of Best in Class, about multifamily asset management, and Invest Smart: Spotting Red Flags in Real Estate Syndications, which helps investors understand how to evaluate sponsors, operators, and syndication opportunities.