In this episode of The Norris Group Real Estate Podcast, Bruce Norris sits down with Gil Figueroa, President of First Commercial Capital, for Part 1 of a deep dive into commercial real estate, market cycles, and lending strategy in today’s higher-rate environment. Gil breaks down how interest rates, the 10-year Treasury, cap rates, and investor psychology all interact to influence real estate valuations and decision-making. The discussion also explores lessons from the 2007–2008 financial crisis, the risks of loose underwriting, and why disciplined lending standards are critical in navigating today’s market. Together, they examine how affordability pressures, refinancing challenges, and lender behavior are shaping both risks and opportunities across commercial real estate.

Gil Figueroa is the President of First Commercial Capital, where he specializes in the origination, underwriting, and closing of multifamily and commercial real estate loans. With over three decades of experience as a licensed real estate broker since 1993, Gil brings deep expertise in apartment lending, commercial real estate finance, and complex loan structuring. He also works closely with high-net-worth clients as a financial analyst and wealth strategist, helping align real estate investments with long-term financial and retirement goals. In addition, Gil is a seasoned speaker with extensive experience presenting at industry conferences and wealth seminars, known for delivering clear, practical insights to investors and professionals.

In this episode:

•  Bruce welcomes Gil Figueroa, President of First Commercial Capital. 
•  Gil shares his 30+ years of experience in commercial and multifamily lending. 
•  Bruce explains how a unique VA property deal led him to study real estate cycles. 
•  Why interest rates alone don’t determine housing prices. 
•  How the 10-year Treasury helps forecast market direction. 
•  The role of human behavior (fear and greed) in market cycles. 
•  Gil discusses Elliott Wave analysis and its impact on his forecasting. 
•  Lessons from the 2007–2008 housing crash and risky lending practices. 
•  Why Gil exited residential lending and shifted to commercial real estate. 
•  Key differences between residential and commercial loan structures. 
•  How rising interest rates impact cap rates and property valuations. 
•  Why affordability is shaping today’s real estate market. 
•  The “lock-in effect” of low mortgage rates on homeowners. 
•  Overview of commercial loan types and refinancing challenges. 
•  Why some investors avoided long-term fixed loans before rates increased. 
•  The “extend and pretend” strategy lenders are using today. 
•  Emerging distressed opportunities in select real estate markets. 

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go to www.thenorrisgroup.com
and click the Hard Money tab.

Video Link

Radio Show

In this episode of The Norris Group Real Estate Podcast, Joey Romero is joined by Craig Evans, CEO of The Norris Group, and Douglas Brooke Homes for an in-depth discussion on the upcoming Florida Bootcamp and the current state of the Florida real estate market. The conversation covers key macro trends driving migration into Florida, including domestic vs. international population shifts, the long-term outlook for housing demand, and how rising interest rates and insurance changes have reshaped buyer behavior. The team also breaks down their current build-to-rent model, highlighting affordability-driven construction, stable cash flow projections, and why new construction continues to outperform aging rental stock in today’s market.

They also dive into the structure of the Florida Bootcamp itself—what attendees can expect over two days, from classroom-style learning and migration data analysis to on-site property tours and one-on-one strategy sessions. The episode emphasizes the Norris Group’s hands-on approach, including vetted land acquisition, funds control protections, and a fully managed construction and leasing process designed to reduce risk for investors.

Craig Evans is the CEO of The Norris Group, where he oversees investment strategy, development projects, and investor education initiatives focused on real estate opportunities in high-growth markets like Southwest Florida. Douglas Brooke Holmes is part of the leadership team at The Norris Group, contributing to development oversight, operations, and investor relations. Joey Romero is a host and representative of The Norris Group Podcast, focused on delivering insights from industry leaders and market experts.

Learn more about the Florida Real Estate Investing Bootcamp here:
https://thenorrisgroup.com/event/florida-real-estate-investing-bootcamp-2026

In this episode:

• Joey introduces the Norris Group Podcast and sets up the discussion on the Florida Bootcamp
• Overview of the upcoming Florida Bootcamp and why it is being relaunched
• Breakdown of Florida migration trends: domestic slowdown vs. continued international inflows
• Impact of remote work, hurricanes, insurance shifts, and rising home prices on migration patterns
• Why Florida’s population continues to grow despite a “migration boom slowdown”
• How migration is driving long-term rental demand in the state
• Introduction to the “1515 model” build-to-rent strategy
• Breakdown of project costs, land acquisition, construction pricing, and rental assumptions
• Expected cash flow, NOI, and cap rate (~5.12%) and why appreciation is treated as upside only
• Discussion of affordability as the core strategy shift in today’s market
• Why new construction reduces risk (no rehab, no inherited tenants, predictable costs)
• Comparison of Florida investment model vs. BRRRR strategy
• Role of funds control, insurance partners, and vetted land acquisition
• Overview of build timelines: permitting (~45–65 days after process starts) and construction (~7 months after permit in conservative estimates)
• Rental absorption expectations (typically 30–60 days when priced correctly)
• Bootcamp structure: classroom education, field tours of build sites, and one-on-one investor meetings
• Who this strategy is for: active investors, W-2 professionals, and 1031 exchange participants
• Pricing, discounts for spouses/partners, and rebate option for investors who build
• Q&A discussion covering insurance stability, permitting timelines, ADUs, lot types, and competition
• Final thoughts on Florida wealth migration, economic growth drivers, and long-term demand outlook

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information

In this episode, Joey Romero continues his conversation with Sarah Ayala of Tower Agency, diving into her approach to mentorship, team building, and navigating today’s unpredictable real estate market. Sarah shares how she developed an 8-week mentorship program designed to equip new agents with the mindset, systems, and lead generation strategies needed for long-term success. She also discusses the importance of vulnerability, consistency on social media, and finding balance while managing both personal production and leadership responsibilities. With insights on today’s “emotional market,” this episode offers valuable guidance for agents, buyers, and investors looking to adapt and thrive.

Sarah Ayala is a Broker Associate and Director of Talent and Growth at Tower Agency. Since entering the real estate industry in 2015, she has specialized in helping first-time home buyers and sellers achieve their goals with confidence and care. Sarah holds a California Broker’s License—the highest credential in the state—and a Bachelor of Business Administration from California State University. She is dedicated to guiding clients through one of the most significant decisions of their lives, providing clarity, professionalism, and personalized support every step of the way.

In this episode:

•  Joey welcomes back Sarah Ayala, Broker Associate with Tower Agency (Part 2). 
•  Sarah shares the inspiration behind building an 8-week mentorship program for new agents. 
•  Why mindset, goal setting, and time blocking are the foundation of success in real estate. 
•  Proven lead generation strategies—from traditional methods to social media and AI. 
•  How vulnerability and authenticity help attract and retain talent. 
•  Balancing personal production while mentoring and leading a growing team. 
•  Common challenges new agents face, including mindset, consistency, and managing client emotions. 
•  Insights into today’s “emotional” and unpredictable housing market. 
•  Advice for buyers and sellers waiting for the “perfect” opportunity. 
•  Where current opportunities exist, from first-time home buyers to the luxury market. 
•  Top tips for new agents: mentorship, consistency, and focusing on what works. 
•  The importance of community involvement and building genuine connections.

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.


Video Link

Radio Show

In this episode, Joey Romero sits down with Sarah Ayala of Tower Agency to explore the insights and strategies first-time home buyers, sellers, and real estate investors need to know. From navigating the buying process with confidence to understanding market trends and investment opportunities, Sarah breaks down complex real estate concepts into practical, actionable advice. She also shares how she transitioned into leadership in real estate talent and growth, and why building relationships and trust is key to long-term success in the industry.


Sarah Ayala is a Broker Associate and Director of Talent and Growth at Tower Agency. Since entering the real estate industry in 2015, she has specialized in helping first-time home buyers and sellers achieve their goals with confidence and care. Sarah holds a California Broker’s License—the highest credential in the state—and a Bachelor of Business Administration from California State University. She is dedicated to guiding clients through one of the most significant decisions of their lives, providing clarity, professionalism, and personalized support every step of the way.

In this episode:
-Joey welcomes Sarah Ayala, Broker Associate with Tower Agency.
-Sarah shares how her childhood home and family influenced her passion for real estate.
-The challenges and lessons from her first year in the industry.
-The role of kindness, confidence, and service in every transaction.
-How social media, Instagram Stories, and DMs became her main business driver.
-Tips for building authentic connections with clients online.
-Insights on working with investors and handling distressed properties.
-Why providing education, options, and transparency is key to investor relationships.

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.


Video Link

Radio Show

In Part 2 of The Norris Group Real Estate Podcast, host Joey Romero continues the conversation with Keystone CPA managing partners Amanda Han and Matt MacFarland.

They break down powerful tax strategies for real estate investors, explaining why tax planning should be a forward-looking strategy rather than just filing returns. The discussion explores how investors can use deductions, entity structuring, cost segregation, and evolving tax strategies as they scale their portfolios.

The guests also discuss the growing role of artificial intelligence in tax research, emphasizing that while AI can assist with research and preparation, investors still need professional expertise to verify information and build personalized strategies. Through real-world success stories, they illustrate how strategic tax planning can dramatically reduce tax liabilities—even for clients with large windfalls or extensive real estate portfolios.

Amanda Han and Matthew MacFarland are CPAs and Managing Directors with more than two decades of experience in tax planning and advisory for real estate investors and high-net-worth individuals. Amanda, a UNLV graduate and seasoned real estate investor, is the author of several bestselling tax strategy books and has shared her expertise on platforms including Money Magazine, Google Talks, and CNBC. Matt, who earned his accounting degree from UCLA and a Master’s in Taxation from USC, is the author of The Book on Advanced Tax Strategies for Real Estate Investors and a frequent speaker on real estate tax planning. Together, they help investors build wealth through proactive and strategic tax planning.

• Why tax planning should start before the tax year begins, not when filing returns
• How real estate investors can maximize deductions and overlooked expenses
• The right time to consider cost segregation and entity restructuring
• How AI tools are changing tax research—and why investors still need expert CPAs
• Strategies investors can use to scale portfolios while minimizing taxes
• Real stories of clients paying little to no taxes through strategic planning
• Advice on teaching financial literacy and investing to children
• The mission behind Animals for Armed Forces Foundation

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.


Video Link

Radio Show

In this episode, Joey Romero sits down with Matt MacFarland and Amanda Han of Keystone CPA to explore the tax strategies real estate investors need to know. From cost segregation and bonus depreciation to real estate professional status and the short-term rental loophole, the conversation breaks down complex tax concepts into practical insights. Matt and Amanda also share how they transitioned into working with real estate investors and why staying ahead of changing tax laws is critical for both CPAs and investors.

Amanda Han and Matthew MacFarland are CPAs and Managing Directors with more than two decades of experience in tax planning and advisory for real estate investors and high-net-worth individuals. Amanda, a UNLV graduate and seasoned real estate investor, is the author of several bestselling tax strategy books and has shared her expertise on platforms including Money Magazine, Google Talks, and CNBC. Matt, who earned his accounting degree from UCLA and a Master’s in Taxation from USC, is the author of The Book on Advanced Tax Strategies for Real Estate Investors and a frequent speaker on real estate tax planning. Together, they help investors build wealth through proactive and strategic tax planning.

In this episode:

• Joey welcomes Matt MacFarland and Amanda Han of Keystone CPA.
• How Keystone CPA helps investors navigate tax strategy and long-term financial planning.
• The journey from traditional accounting to specializing in real estate investor tax planning.
• Common tax planning mistakes real estate investors make and how proactive strategies can improve outcomes.
• Why CPAs must constantly adapt to evolving tax laws and industry changes.
• How bonus depreciation affects cost segregation strategies for real estate investors.
• A breakdown of the requirements for qualifying as a real estate professional, including material participation hours.
• An explanation of the short-term rental loophole and how some investors use it for tax advantages.

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.


Video Link

Radio Show

In Part 2, Bruce Norris and economist Christopher Thornberg examine interest rates through a historical lens and discuss how inflation, political narratives, and global economics shape today’s market. They also explore the role of artificial intelligence, weighing its potential benefits against societal risks, and emphasize the importance of adapting through education and workforce training. 

Christopher Thornberg, Ph.D. is a nationally recognized economist and public speaker, best known for accurately forecasting the 2007 housing crash. He is the Founder of Beacon Economics, one of California’s leading economic research firms, and a trusted advisor to governments, businesses, and financial institutions nationwide. Dr. Thornberg is a frequent media commentator and a contributor to major economic outlooks, offering data-driven insights on real estate, labor markets, and economic policy. 

In this episode:

• A historical look at interest rates and why another increase could pressure real estate markets.
• How inflation, politics, and populism influence economic stability.
• The reality of the U.S. dollar’s global currency status and why it remains the safest refuge for capital.
• A balanced discussion on artificial intelligence — opportunity versus unintended consequences.
• Why education and adaptation are critical as technology reshapes the economy.

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.


Video Link

Radio Show

In Part 1 of this episode, economist Christopher Thornberg joins Bruce Norris to break down the current state of the housing market. They discuss market stability, the impact of low interest rates and refinancing, growing affordability challenges, and why rising federal debt poses long-term economic risks investors should not ignore. 

Christopher Thornberg, Ph.D. is a nationally recognized economist and public speaker, best known for accurately forecasting the 2007 housing crash. He is the Founder of Beacon Economics, one of California’s leading economic research firms, and a trusted advisor to governments, businesses, and financial institutions nationwide. Dr. Thornberg is a frequent media commentator and a contributor to major economic outlooks, offering data-driven insights on real estate, labor markets, and economic policy. 

In this episode:

• Bruce Norris welcomes economist Christopher Thornberg of Beacon Economics.
• A look at today’s real estate market stability and underlying risks.
• How low interest rates and refinancing have shaped housing trends.
• Ongoing challenges facing buyers, sellers, and affordability.
• Public debt concerns and what they mean for the broader economy.
• Why federal borrowing may be unsustainable without fiscal reform.

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.


Video Link

Radio Show

In Part 3 of Bruce Norris’ conversation with Sean O’Toole, they explore how autonomous learning and emerging “world models” could reshape artificial intelligence, the true impact of robots on the workforce, and what technologies like 3D-printed housing and blockchain may mean for the future. Sean also explains why AI should be used to amplify human potential — not replace it. 

Sean OToole is CEO & Founder of PropertyRadar, the property data and owner information platform real estate pros have trusted since 2007 to do billions of dollars in deals.

Sean got his start with data in Silicon Valley during the dot-com boom. After the dot-com bubble, Sean flipped properties for five years, and with data-informed insights, got out right before the housing bubble burst.

Sean launched ForeclosureRadar in early 2007 before anyone had heard of the foreclosure crisis.

In 2013, he relaunched ForeclosureRadar as PropertyRadar, a greatly expanded property data and owner information platform serving a broad audience of real estate professionals and property-centric businesses.

Today, PropertyRadar remains the go-to platform for data-driven real professionals intent on leveraging comprehensive property data and owner information to grow their business directly.

In this episode:

• How autonomous learning and “world models” could push AI beyond today’s large language models.
• Why early breakthroughs in AI are already outperforming expectations.
• The real impact of robots on the workforce — separating hype from reality.
• Exploring the future of housing through 3D printing and manufactured homes.
• Sean’s take on Bitcoin, stablecoins, and blockchain technology.
• Why AI should be seen as a productivity tool, not a replacement for people.

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.


Video Link

Radio Show

In Part 2 of Bruce Norris’ conversation with Sean O’Toole, the discussion expands beyond real estate into the future of energy, leadership, and artificial intelligence. Sean shares why power production, global cooperation, and responsible AI development will play a critical role in shaping the economy — and what investors should pay attention to as technology accelerates. 

Sean OToole is CEO & Founder of PropertyRadar, the property data and owner information platform real estate pros have trusted since 2007 to do billions of dollars in deals.

Sean got his start with data in Silicon Valley during the dot-com boom. After the dot-com bubble, Sean flipped properties for five years, and with data-informed insights, got out right before the housing bubble burst.

Sean launched ForeclosureRadar in early 2007 before anyone had heard of the foreclosure crisis.

In 2013, he relaunched ForeclosureRadar as PropertyRadar, a greatly expanded property data and owner information platform serving a broad audience of real estate professionals and property-centric businesses.

Today, PropertyRadar remains the go-to platform for data-driven real professionals intent on leveraging comprehensive property data and owner information to grow their business directly.

In this episode:

• Leadership challenges in scaling reliable and sustainable energy systems.
• The rapid development of AI and the rise of superintelligence.
• Why global cooperation is essential to keep advanced AI safe.
• The growing tension between regulation, innovation, and data privacy.

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.


Video Link

Radio Show