How He Builds Homes Without Investing A Dollar

The Most Controversial Man in Real Estate: Grant Cardone

*Grant Cardone sits down with Taylor Avakian on No Vacancy for a raw conversation on building massive multifamily wealth, raising capital on his own terms, and why he's betting big on Bitcoin alongside real estate.*In this full episode, Grant breaks down his journey from car salesman to running one of the largest private multifamily portfolios in the U.S., the lessons that shaped his approach to deals and capital, how he thinks about scale versus location, and his forward-looking views on markets, technology, and the next phase of his business.*Chapters:*00:00:00 — Grant Cardone's Opening Rant on Real Estate Capital Raising 00:01:20 — How Grant Learned Real Estate Growing Up 00:02:31 — His Father's Influence and Early Exposure to Property 00:04:28 — First Deals at 28 and the 3-Year Study Period 00:05:39 — Houston Market Collapse and Move to California 00:07:13 — Buying Nearly 200 Units in 90 Days in San Diego 00:08:38 — Raising Early Capital and the Mom Loan Story 00:09:54 — Building a High-Income Sales Consulting Business 00:12:56 — Car Sales Lessons: Becoming Top 1% and Finding the Glitch 00:16:17 — Developing Ambition and the Drive to Be Recognized 00:18:03 — Hitting the First Million and What It Felt Like 00:19:41 — Why Owners Beat Brokers: The Rudy and Dale Partnership 00:23:44 — How Grant Evaluates Deals: Always Know Your Exit 00:24:53 — Value-Add Realities and Selling to Sophisticated Buyers 00:27:42 — What He Would Do Differently If Starting Over 00:28:21 — Evolution of Deal Structures and Dropping the Pref 00:30:04 — Raising $2 Billion from 20,000 Investors on His Terms 00:31:40 — Long-Term Holds and Why Many Recent LA Deals Struggled 00:34:xx — Market Predictions: LA, Orange County, Dallas, Miami, and More 00:38:37 — Asset-First Approach, Building Audience, and Exiting to Whales 00:44:xx — Advice for Ambitious Young People: Grind in Your 20s 00:48:xx — Sales Mastery: Studying Buffett, Elon, and Trump 00:55:xx — Focus on the Best Assets First, Not Investor Terms 01:00:xx — The Sacrifices Required for One Life-Changing Deal 01:06:xx — Tax Strategy: Live Lean and Invest Aggressively in Multifamily 01:07:33 — Favorite Markets and the Monopoly-Style Concentration Play 01:09:57 — LP/GP Structures and Using Assets to Attract Capital 01:13:xx — AI's Early Impact on Real Estate and Future Opportunities 01:27:xx — Property Management as a Major Competitive Moat 01:29:xx — Grant's Vision for the Next 5–10 Years 01:35:22 — Closing Thoughts and Bold Future PlansSubscribe and Stay Ahead! Stay informed and empowered in the multifamily real estate market. Subscribe to the channel for exclusive insights, rental updates, and expert analyses on the Los Angeles market.🔔 Don’t miss out on the latest trends and tips to maximize your property's potential: https://www.youtube.com/c/TaylorAvakian📈 Connect with me:Website: https://www.thegroupcre.com/Email: taylor@thegroupcre.comX: https://x.com/TAYVAY_LinkedIn: https://www.linkedin.com/in/tayloravakian/ #realestate #podcast #losangeles

The Winning CRE Strategy He Built Over 5 Decades | Larry Taylor

*Taylor Avakian sits down with legendary West Side Los Angeles real estate syndicator Larry Taylor.* With more than 50 years focused exclusively on LA’s most desirable submarkets, Larry shares perspective on current pricing and opportunities, the unique advantages of the West Side, and principles refined across every interest rate and economic cycle.From the lasting appeal of prime locations like Century City and Santa Monica to the evolution of syndication and portfolio strategies, this conversation covers hard-won lessons on navigating volatility, evaluating deals, and building lasting value in one of the world’s most competitive real estate markets.Sponsor - Loan TitanUpscale your experience withhttps://loantitan.com/Sponsor - AI for CRE CollectiveAI for CRE Community: https://www.skool.com/ai-for-cre-collective/about?ref=3b3ff2c0ccce44ba8039fafd54bf291aChapters00:00 Introduction & Current LA Real Estate Opportunities 06:13 Larry Taylor: OG of Los Angeles Real Estate Syndication 07:37 Early Influences: Jerry Buss, Tax Strategies & Syndication Beginnings 08:55 Sam Freshman Book and Core Syndication Principles 11:40 Launching a Career: First Deals and 1970s Economic Upheaval 13:14 Interest Rate Cycles, Volcker Era & Historic Buying Windows 15:12 West Side LA vs Downtown: Performance Through Cycles 16:50 Why the West Side Endures: Climate, Location & Quality of Life 19:34 Raising Capital Today & Investor Sentiment on LA 23:27 Creating Value: The Montana Avenue Development Story 28:57 Location-First Approach Across All Asset Types 30:10 Evaluating Deals: Vision, Multiple Exits & Disciplined Analysis 34:34 Multifamily on the West Side: Pricing, Regulations & Opportunities 42:33 Modern Portfolio Syndication, Funds & Rigorous Due Diligence 53:18 Knowing When to Sell & Lessons from Standout Transactions 1:00:32 A Landmark Century City Transformation & Outcome 1:15:45 If Starting Today: Portfolio Strategies for New InvestorsReal estate syndication Los Angeles, West Side LA investing, multifamily real estate Los Angeles, commercial real estate cycles, Century City development, Santa Monica retail, interest rate impact on real estate, buying opportunities downturns, apartment investing West LA, Larry Taylor Christina, Taylor Avakian No Vacancy, historical real estate lessons, Los Angeles commercial real estateSubscribe and Stay Ahead! Stay informed and empowered in the multifamily real estate market. Subscribe to the channel for exclusive insights, rental updates, and expert analyses on the Los Angeles market.🔔 Don’t miss out on the latest trends and tips to maximize your property's potential: https://www.youtube.com/c/TaylorAvakian📈 Connect with me:Website: https://www.thegroupcre.com/Email: taylor@thegroupcre.comX: https://x.com/TAYVAY_LinkedIn: https://www.linkedin.com/in/tayloravakian/#LosAngelesRealEstate #MultifamilyBroker #LandlordTips #RealEstateInvesting #PropertyManagement #TenantScreening #RentalMarket #LosAngelesApartments #RealEstateStrategy #TaylorAvakian #ApartmentOwner

Is this tech Billionaire the next Mayor Of Los Angeles? | Adam Miller

*Adam Miller for LA Mayor: Tech Billionaire on Fixing LA's Housing Crisis, Homelessness & Government Inefficiency | No Vacancy Podcast*Taylor Avakian sits down with Adam Miller — founder and former CEO of Cornerstone OnDemand (sold for $5.2 billion) — who is running for Mayor of Los Angeles. In this wide-ranging conversation, Miller breaks down his bold plan to transform the city through operational excellence, accountability, and private sector innovation.From scaling a global education technology company to tackling LA’s most pressing challenges, Miller shares insights on leadership, incentives, efficiency, and what “good” governance actually looks like.*Key Topics:*- LA’s interconnected crises: homelessness, public safety, housing affordability, and economic decline- Why government needs a complete mindset shift on targets and expectations- His 7x7 Plan for immediate, measurable change as Mayor- Fixing permitting, recruitment, transparency, and infrastructure- Building affordable housing at a fraction of current costs- Leadership lessons from scaling a company from an apartment to 3,000 employees across 25 countries*Timestamps:*- 00:00 - Introduction & Government Mindset Problems- 00:21 - Adam Miller Background & Cornerstone OnDemand Story- 02:55 - Education, Overachievement & Early Life- 05:00 - Was Building Wealth Worth It?- 06:19 - Founding Cornerstone: Online Education Vision- 11:52 - AI, Tech Bubbles & Cloud Computing Lessons- 15:24 - Early Days, Pivots & Building the Business- 18:04 - What Really Happens in Boardrooms- 21:03 - LA’s Overlapping Crises & The 7x7 Plan- 24:50 - First Week as Mayor: Immediate Actions- 30:03 - Setting the Bar Higher in Government- 32:28 - Changing Incentives, Accountability & Recognition- 39:53 - Entering the Housing Space & Better Angels- 43:46 - Building Housing at 1/3 the Cost- 46:59 - Pitching Investors on LA & Predictability- 53:28 - Waste, Fraud & Broken Incentives in Government- 55:55 - Adam Miller’s Superpowers & Philosophy- 59:12 - Purpose, Impact & Advice for Success- 1:06:44 - Who Adam Miller Really IsAdam Miller is a tech entrepreneur, nonprofit leader, and candidate for Mayor of Los Angeles. This is a must-watch for anyone interested in the future of LA, urban policy, housing solutions, and effective leadership.*No Vacancy Podcast with Taylor Avakian* — Real conversations with leaders in commercial real estate, tech, and city innovation.Sponsor - Loan TitanUpscale your experience withhttps://loantitan.com/Sponsor - AI for CRE CollectiveAI for CRE Community: https://www.skool.com/ai-for-cre-collective/about?ref=3b3ff2c0ccce44ba8039fafd54bf291aSubscribe and Stay Ahead! Stay informed and empowered in the multifamily real estate market. Subscribe to the channel for exclusive insights, rental updates, and expert analyses on the Los Angeles market.🔔 Don’t miss out on the latest trends and tips to maximize your property's potential: https://www.youtube.com/c/TaylorAvakian📈 Connect with me:Website: https://www.thegroupcre.com/Email: taylor@thegroupcre.comX: https://x.com/TAYVAY_LinkedIn: https://www.linkedin.com/in/tayloravakian/#realestate #losangeles #business #podcast #entrepreneur #realestateinvesting #commercialrealestate #cre

Lost Millions in His 20s, Now One of LA’s Biggest Landlords (Here’s How) | Richard Mehta

*No Vacancy Podcast: Richard Mehta (Xenon Investments) on Building a 3,300 Unit Empire in Los Angeles*Taylor Avakian sits down with Richard Mehta, co-founder of Xenon Investments. Richard has built one of the most impressive multifamily portfolios in LA with roughly 3,300 apartment units, mostly on the Westside, Mid-Wilshire, Koreatown, and parts of the San Fernando Valley.In this episode, he opens up about his journey from losing money in the early 90s crash to becoming one of LA's most active buyers. He shares how he thinks about deals, why he trusts gut instinct over complicated models, his love for strong locations, and how he's navigated rent control, the mansion tax, and today's tough market.*Timestamps:*- 00:00 - Welcome and Introduction- 01:07 - Xenon Investments Portfolio Overview (3,300 units)- 02:26 - Richard Mehta Origin Story and Early Days- 04:05 - Family Background and Lessons from the 90s Crash- 05:35 - Cash Flow Philosophy and Investment Criteria- 07:19 - Gross Rent Multiplier vs Cap Rates- 08:13 - Why Location Matters Most in LA- 09:07 - Scaling From 1,000 to 3,300 Units- 11:00 - Current Market Challenges in Southern California- 12:33 - Westside Habitats and Building the Brand- 12:58 - Richard's Superpower: Being Decisive- 13:52 - First Big Home Run Deal - 747 Gayley Avenue- 18:07 - Buying with Intuition Over Spreadsheets- 19:22 - Working with Family and Running the Company- 21:43 - Leverage, Refinancing, and Portfolio Strategy- 23:00 - Early Deals and Non-Contingent Offers- 26:47 - How Richard Approaches Negotiation- 30:39 - Raising Money Experiences- 33:41 - The 3-Year Cash Out Refi Strategy- 38:13 - How the Name Xenon Came From a Nightclub- 42:03 - Worst Deals and Lessons from 2021-2022- 45:55 - Selling Strategy and the Mansion Tax- 49:54 - Who Richard Goes to for Advice- 53:17 - Future Plans for Xenon and LA Multifamily- 55:08 - Reputation, Integrity, and Legacy- 58:08 - Most Interesting Deal: The Bel Air House RTC Story- 01:02:56 - Advice for Young Investors*Guest:* Richard Mehta - Co-Founder, Xenon Investments *Host:* Taylor AvakianSponsor - Loan TitanUpscale your experience withhttps://loantitan.com/Sponsor - AI for CRE CollectiveAI for CRE Community: https://www.skool.com/ai-for-cre-collective/about?ref=3b3ff2c0ccce44ba8039fafd54bf291aReal estate investing, multifamily apartments, Los Angeles real estate, Westside LA, apartment investing, rent control, commercial real estate, value add multifamilySubscribe and Stay Ahead! Stay informed and empowered in the multifamily real estate market. Subscribe to the channel for exclusive insights, rental updates, and expert analyses on the Los Angeles market.🔔 Don’t miss out on the latest trends and tips to maximize your property's potential: https://www.youtube.com/c/TaylorAvakian📈 Connect with me:Website: https://www.thegroupcre.com/Email: taylor@thegroupcre.comX: https://x.com/TAYVAY_LinkedIn: https://www.linkedin.com/in/tayloravakian/#realestate #podcast #commercialrealestate

She runs Section 8 Housing in Los Angeles. Can she save LA? Lourdes Castro Ramirez (HACLA)

Lourdes Castro Ramirez, President and CEO of HACLA (Housing Authority of the City of Los Angeles), joins Taylor Avakian on the No Vacancy Podcast for an in-depth conversation on the affordable housing crisis, Section 8 vouchers, public housing, and strategies to address homelessness in Los Angeles. In this episode, Lourdes breaks down how HACLA serves over 200,000 Angelenos, the realities of rental subsidies, emergency housing vouchers, mixed-income developments, public housing redevelopment, and the challenges of high development costs. She shares her personal journey from immigrant roots to leading one of the largest housing authorities in the U.S., insights from San Antonio and the Obama administration, and practical opportunities for private landlords and developers to partner with HACLA. Topics include: Section 8 landlord participation, funding shortfalls, acquisitions program, Housing Our Veterans, mixed-status families, and long-term solutions for LA’s housing shortage. *Chapters:* - 00:00 Introduction & Sponsor - 00:06 What is HACLA? Serving 200,000 Residents in Los Angeles - 02:02 HACLA Programs: Public Housing, Section 8 Vouchers & More - 05:03 HACLA’s Quasi-Governmental Structure & Funding - 06:20 Lourdes Castro’s Journey: From UCLA to CEO - 14:00 What Governments Get Wrong About Housing - 16:27 LA Housing Shortage & Emergency Housing Vouchers (EHV) Update - 21:42 Section 8 Funding Challenges & Impact on Property Owners - 26:36 Development Costs: Why Affordable Units Cost $800K–$1M - 31:30 Acquisitions Program, Mixed-Income Housing & High-Resource Neighborhoods - 36:34 Current Development Focus: Jordan Downs, Woodland Hills & More - 39:41 Opportunities for Private Landlords & Developers (Housing Our Vets, Partnerships) - 42:15 Landlord Feedback, Service Improvements & RentCafe - 43:54 LA CASA & Measure A Explained - 46:03 If Lourdes Were in Charge: Policy Changes for Housing - 48:28 Lessons from Texas: Austin & San Antonio Housing Approaches - 49:55 Should Landlords Accept Section 8 Right Now? - 51:19 Future of Housing in LA: Next 5–10 Years - 55:04 Keeping Families Housed & Economic Opportunity Programs - 57:54 Build Hope Nonprofit & Wraparound Services - 01:00:45 Closing Thoughts HACLA | Affordable Housing Los Angeles | Section 8 Vouchers | Public Housing | Housing Crisis | Taylor Avakian No Vacancy Podcast #realestate #commercialrealestate #podcast