What really separates strong real estate professionals from everyone else when markets tighten and capital gets complicated?

In this episode of No Vacancy, Taylor Avakian sits down with Vicky Schiff for a wide-ranging conversation on work ethic, conviction, and how serious operators think about risk, relationships, and capital in today’s real estate market. Vicky shares how she built her career by being the person who actually executes, prepares, and shows up when it matters.

They dive into what’s happening inside the debt markets, how lenders are structuring risk through pref equity, CLOs, and loan-on-loan strategies, and why understanding the incentives behind capital is just as important as understanding the deal itself. Vicky also explains how high-level decision-makers prepare for meetings, evaluate opportunities, and maintain confidence without ego.

Beyond markets and structures, the episode explores discipline, curiosity, and human connection — and why relationships still drive outcomes even as the industry evolves.

This is a practical conversation for anyone operating in commercial real estate who wants to think more clearly, move with conviction, and understand what’s really happening behind the capital stack.

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