Accredited Investors Only | Presented by Accredited Life

How to Build a Portfolio of Triple Net Assets Without Being a Billionaire with Pam Goodwin | 87

My guest today is Pam Goodwin, founder of Goodwin Commercial, a Dallas-based development firm she launched in 2006 after spending years on the tenant side of the business with Brinker International, where she developed more than 50 restaurant locations from the ground up. Somewhere along the way she realized the landlords collecting triple net rent on those Chili's ground leases were the ones really winning, and she set out to become one of them. She has been at it for 35-plus years and says she still wakes up on Monday loving what she does. Episode Highlights [0:19] – Pam introduces her background at Brinker International developing 50-plus Chili's locations and what made her realize landlords had the better deal [1:38] – What Goodwin Commercial focuses on today: single tenant net lease, buying land to develop with national tenants, or redeveloping existing buildings [3:44] – How working in small towns and bringing first-to-market restaurant concepts to communities became her favorite part of the business [10:50] – Why the current construction cost environment has pushed her toward ground leases over build-to-suits, and what she gives up on the tax depreciation side in that trade-off [12:23] – The case for buy and hold in triple net: why she wishes she still owned everything she has ever sold [14:24] – How cap rates vary dramatically by tenant quality, using McDonald's at a 3.75 cap versus Dollar General at a 7.5 cap to illustrate the difference in investor pricing [17:50] – Where she sees opportunity right now as drugstore chains close locations and entertainment and dining concepts flood the Dallas market [20:37] – Why 2024 was one of the harder years in commercial real estate for most people she knows, and how high interest rates drove almost all of her recent closings to cash buyers [21:38] – The creative ways investors are repurposing underused commercial space, from office conversions to senior living and pickleball courts [28:44] – How to reach Pam and get involved in her education events, classes, and active deals 5 Key Takeaways * In single tenant net lease development, you are primarily buying land. The existing building on it is almost irrelevant because it is likely coming down anyway, and in many cases the cost to reconfigure an existing structure exceeds what new construction would have cost. * Cap rates and tenant credit quality move together, and you have to watch both constantly. A McDonald's and a Dollar General can sit on the same acre of land in similar locations, but the cap rate spread between them can cut the property's resale value nearly in half. * Right now, ground leases are the lower-risk play over build-to-suits because construction cost pro formas can shift dramatically in six months to a year. If you can let the tenant build the building and simply collect rent on the land, you preserve your margin and eliminate a major variable. * Everything is for sale. It is just a matter of time and price. Pam spent five to six years working one property before finally getting it under contract, and it turned into a four-tenant deal. Patient persistence on the right locations is a repeatable edge in this business. * You do not have to develop alone. Pam actively partners with bird dogs and local connectors who bring her viable land or vacant buildings, offers a minimum 25% return on the deal, and handles all the due diligence and execution. The relationship infrastructure is often more valuable than the capital. Links & Resources * Pam Goodwin's Website — pamgoodwin.com * Follow Pam on LinkedIn — Pamela Goodwin If you found this conversation valuable, share it with someone in your network who has been curious about the commercial side of real estate but has not known where to start. Follow The Accredited Life so you never miss an episode, and if you have a minute to leave a rating and review, it goes a long way toward helping us grow.

Steps to Converting Leads That Come to Your Website with Brady Winder | 86

In this episode, I sit down with Brady Winder, content marketer at Carrot, the platform behind some of the highest-converting real estate investor websites in the country. Brady breaks down why most investors spend all their time generating leads and closing deals while completely neglecting the middle of their funnel — and why that's costing them deals and dollars. We get into the psychology of website conversion, what the top 5% of Carrot members are doing differently, why branding matters more than most investors realize, and how SEO is evolving in an AI-driven world. If you're an investor who has ever wondered whether your online presence is actually working for you, this episode will change how you think about it. ⸻ Episode Highlights [0:48] – Brady's background: content marketer at Carrot, real estate investor, and self-described marketing nerd [3:01] – What Carrot actually is and why investor websites are the most neglected part of the funnel [3:52] – Why your website is the bottom of your funnel — and why that makes it the most critical piece [7:27] – The middle of the funnel nobody talks about: lead nurturing between generation and close [10:21] – Treating all marketing channels as a hub that feeds into one central website [11:36] – The data: Carrot leads convert into deals seven times more often than purely offline leads [12:17] – Why inbound SEO leads are higher quality than cold calling or direct mail [13:06] – How pre-educated sellers convert faster and negotiate less on the phone [14:33] – What's done-for-you in Carrot vs. what investors should personalize [16:37] – Why your About page is the second most visited page on any website — and why most people ignore it [17:13] – Video testimonials: cringe or not, the data says they convert and they're worth getting every closing [19:45] – Low-resistance forms and conversion psychology baked into every Carrot site [20:32] – Carrot's free CRM and automated drip campaigns to stop deals from slipping through the cracks [23:29] – What the top 5% of Carrot members do: treat their business like a brand, not just a lead machine [24:52] – Real example: how one Sacramento investor dominates her market with a consistent brand and a cowboy hat [26:03] – Why video content — especially niche, helpful, low-production video — wins in SEO right now [27:32] – Why gaming SEO no longer works and what actually ranks in 2024 [30:16] – How AI-generated content is flooding the internet and what creates an opening for human voices [30:31] – The Niche Authority Builder tool: targeting hyper-specific seller situations like divorce or foreclosure [37:02] – How Carrot works for land, mobile homes, development sites, and even home services [44:33] – Brady's take on the future: brands get more deals than people — even when the brand is a person ⸻ 5 Key Takeaways 1. Your website is the bottom of your funnel — and a bad one wastes every dollar you spend getting leads to it. 2. Leads that pass through a website convert into deals seven times more often and at $14K+ higher profit on average. 3. The top investors treat their business as a recognizable brand — consistent name, colors, voice, and story across every channel. 4. Helpful, niche-specific video content wins SEO right now — low production quality is fine as long as it answers real questions. 5. Stop chasing leads and closing deals while ignoring everything in the middle. Nurturing is where the money is hiding. ⸻ Links & Resources * Carrot – carrot.com/podcast [https://carrot.com/podcast] * Free tool: Market Scout — plug in your market to see lead generation opportunity * Mentioned Topics: Website conversion, SEO for real estate investors, lead nurturing, CRM, video testimonials, branding, content marketing, motivated seller leads ⸻ If this episode made you rethink how your online presence is working — or not working — for you, make sure to follow, rate, review, and share the show.

How to Hire World-Class Virtual Help Without Getting Burned Again with Anna Li | 85

In this episode, I sit down with Anna Li, founder of Outsource Your Tasks, a global virtual assistant staffing company she built almost entirely by accident. Anna immigrated to the United States at 21 with nothing, spent 15 years climbing the corporate ladder in pharmaceuticals, and then discovered a massive gap in how entrepreneurs source, hire, and retain virtual talent. We break down the VA landscape from Philippines to Latin America to the U.S., what investors and entrepreneurs consistently get wrong when hiring remote help, and how Anna's "rule of seven" training philosophy changes everything. She also shares the story of running flips remotely from Switzerland while working full time — and why she believes outsourcing your lowest-value tasks is the fastest path to freedom. Episode Highlights [1:19] – Anna's origin story: born in the former Soviet Union, moved to the U.S. at 21 with -$3,000 [2:14] – Her current world: staffing company, real estate investor, wife, mother of three, pickleball player [2:33] – How it all started: trying to launch a wholesaling company from Switzerland while working full time in pharma [3:47] – Why agencies failed her and what she discovered about how VAs are really compensated [6:56] – How her mastermind community became her first customers — and how the done-for-you side was born [9:00] – Why she's grateful for 15 years in corporate America and what it taught her about leadership [13:41] – VA 101: what a virtual assistant actually is and the biggest misconceptions entrepreneurs carry [14:39] – Sourcing the top 3% globally: 100 candidates reviewed to present three finalists [15:11] – The Philippines, Latin America, Egypt, and beyond: global talent and realistic hourly rate breakdowns [17:47] – How the pandemic accelerated the remote work shift and created a wave of highly educated VA talent [20:30] – New frontier: fractional professionals and subject matter experts hired part-time for specialized needs [21:15] – What VAs can and can't do — and why "virtually anything virtual" is closer to the truth than most think [25:33] – The $10/hour vs. $200/hour framework: how to identify which tasks to outsource first [27:39] – Anna's three service tiers: DIY course, done-for-you sourcing, and fractional specialist placements [31:14] – Why VAs ghost their employers — and why it's almost always the leader's fault [32:28] – The top three reasons VA hires fail: bait-and-switch pay, no onboarding, and mismatched task scope [34:51] – The rule of seven: why Anna expects to repeat every instruction seven times before it sticks [38:38] – Real estate in Switzerland: running fix-and-flip deals from Europe with her dad as boots on the ground [40:40] – How they treated their first flip as a $20K tuition payment — and why that mindset unlocked everything ⸻ 5 Key Takeaways 1. If a VA ghosted you, look inward first — mismatched expectations, poor onboarding, and bait-and-switch pay are the top three causes. 2. Sourcing from a global talent pool means access to educated, experienced professionals at a fraction of U.S. rates. 3. The rule of seven: plan to repeat every new instruction seven times. Leaders who expect this retain better talent. 4. Start outsourcing by identifying your $10/hour tasks. Protecting your $200/hour time is where real leverage lives. 5. You don't have to quit your job to build real estate wealth — remote systems and the right people make it possible from anywhere in the world. ⸻ Links & Resources * Outsource Your Tasks – outsourceyourtasks.com [https://outsourceyourtasks.com/] * Free resource: Top 25 Tasks You Can Outsource to a Virtual Assistant * Follow Anna on LinkedIn: search Anna Li – Outsource Your Tasks * Mentioned Topics: Virtual assistants, global staffing, remote hiring, fractional professionals, BPO, real estate wholesaling, house flipping ⸻ If this episode helped you think differently about how you're spending your time — or finally convinced you to get help — make sure to follow, rate, review, and share the show.

The Self Storage Strategy Behind $250M in Transactions with Fernando Angelucci | 84

In this episode, I sit down with Fernando Angelucci, CEO of Triple S, a self storage syndicator who has completed 55 facilities totaling $250 million in transactions across 24 states. Fernando started as an engineer, tried single family and multifamily investing, and then stumbled into self storage at a conference in Indianapolis — and never looked back. We break down Fernando's three-pronged investment strategy, how self storage technology is evolving fast, what the post-pandemic market correction really looked like, and why consolidation remains the single biggest opportunity in the space right now. Episode Highlights [0:52] – Fernando's background: engineer turned real estate investor after reading Rich Dad Poor Dad at 16 [2:20] – Why residential investing led him to self storage: no tenants, no toilets, no trash [3:39] – Sunsetting all habitation-based real estate from 2016 to 2018 before going all in [4:03] – Testing the market through wholesaling before buying and holding storage facilities [5:03] – First facility: bought for $1M outside Chicago, sold three years later for $1.8M [6:04] – Three legs of the investment stool: mom and pop value-add, Class A ground-up development, and big box conversions [6:57] – The consolidation opportunity: top six REITs own only 18% of 50,000+ facilities [9:49] – Always buying with the exit in mind: who the top 100 operators want and what they look for [10:30] – Targeting high-teens to high-20s IRR and selling within 3 to 5 years [12:10] – Technology driving the space: AI pricing, dynamic rate adjustments, and competitor tracking tools [15:44] – Cap rate compression and the evolution of the market from 12-15% caps to today [17:43] – How Covid drove 80% rent growth in two years — and the correction that followed [18:38] – Why 85% occupancy is the healthy stabilization target, not 100% [20:23] – Why a 100% occupied facility almost always means under-market rents [27:26] – Expense ratios: 32-33% for Class A automated facilities, 42-45% for mom and pop [28:11] – Third party management: why Fernando uses 3-5 vendors and never puts all eggs in one basket [31:34] – The difference between REIT-branded management and third party management [33:34] – Contractor storage as the next emerging opportunity: small bay industrial units displaced by Amazon [36:56] – How Fernando's investor base has evolved: 822 investors, from friends and family to retail accredited investors [40:26] – Launching a $15M fund (hard cap $25M) to diversify across value-add, development, and wholesale deals ⸻ 5 Key Takeaways 1. Self storage's fragmented ownership creates a massive consolidation opportunity for mid-size aggregators. 2. You make your money when you buy — but you only realize it when you sell. Always plan your exit from day one. 3. 100% occupancy usually signals under-market rents. Healthy stabilization is 85-92%. 4. AI-driven dynamic pricing and competitor tracking are rapidly reshaping how storage operators maximize NOI. 5. Contractor and pro storage units represent the next wave — displaced by Amazon's last-mile buildout and sticky due to high equipment investment. ⸻ Links & Resources * Triple S – https://ssse.com/about * Call or text Fernando directly: (630) 408-8090 * Mentioned Topics: Self storage syndication, consolidation strategy, value-add, ground-up development, big box conversion, dynamic pricing, third party management, 506 syndications, self storage fund ⸻ If this episode opened your eyes to self storage as a serious asset class — or gave you a clearer picture of how smart operators are building and exiting portfolios — make sure to follow, rate, review, and share the show.

Why the Best Private Lenders Know Construction Before They Know Finance with Mike Seidl| 83

In this episode, I sit down with Mike Seidl — serial entrepreneur and private money lender — to break down what separates true private lending from the hard money world Wall Street funds. Mike has built three businesses across four decades, from medical alert systems in 1987 to a property damage construction company, to now deploying millions of his own capital in private real estate loans. We get into how Mike's construction background gives him an edge most lenders don't have, how he structures draws and protects his investors, and why he walked away from Wall Street after nine months of research he couldn't poke holes in. If you're looking to understand private lending from the inside out, this one's for you. ⸻ Episode Highlights [1:14] – Mike's intro: private money lender, serial entrepreneur, three companies over four decades [1:55] – Company #1: Medical alert systems started at age 23, sold after ten years to a public company [2:36] – Company #2: Property damage construction company doing 250–300 repairs a year, sold in 2017 [3:45] – The Wall Street wake-up call: nine months of research that led Mike to pull millions from the stock market [5:11] – Hard money vs. private money: why the distinction actually matters for borrowers [6:22] – Expanding beyond single family: mobile homes, small multifamily, and rescue loans [8:51] – How Mike's lending community grew from personal capital to friends, family, and outside investors [10:48] – How due diligence has evolved: network-based reputation checks, PropStream, Redfin, and RealtyValue [12:42] – Why his construction background lets him catch what other lenders miss on scopes and photos [14:57] – A real example: catching an incomplete tile job by reading photos and calling the bluff [16:31] – Loan structure basics: 80% of purchase, 100% of repairs, max 70% all-in combined [17:24] – Cross-collateralization: how borrowers can lend 100% without coming to the table with cash [18:13] – Draw process: geo-tracked photos, before-and-after comparisons, and 48-hour fund release [20:22] – Terms, rates, and why interest-only loans with ACH debits keep everything clean [23:03] – Why 24% annualized is still a win for borrowers who keep 100% of the equity [23:22] – Documentation: notes, mortgages, personal guarantees, title insurance, and liability coverage [26:05] – What happens if a loan goes sideways: how Mike would manage or exit a foreclosure property [27:53] – Construction gem: how to find good contractors by asking whoever follows them [29:20] – Why borrowers don't need 25% down to pay contractors — and what to do if they ask for it [32:20] – Mike's entrepreneurial origin story and what's potentially next: flex space on a triple net lease [36:10] – Why Mike will never stop working: blue zones, mental stimulation, and living on purpose [37:04] – 40 countries, whitewater kayaking, and diving between two tectonic plates in Iceland ⸻ 5 Key Takeaways 1. True private lending means your own capital and your own decisions — no Wall Street buy box required. 2. Construction experience is an underrated edge in private lending — you can catch what others simply can't see. 3. Draw management and geo-tracked photo verification protect both the lender and the borrower. 4. Stress-test every deal and every borrower — your network is one of the best due diligence tools you have. 5. Wealth without health and purpose is incomplete — build income streams that fund the life you actually want to live. ⸻ Links & Resources * REI Capital Guys – https://reicapitalguys.com/ * Email Mike: mike@reicapitalguys.com * Mentioned Topics: Private vs. hard money lending, draw management, cross-collateralization, fix-and-flip loans, rescue loans, multifamily bridge lending, blue zones ⸻ If this episode gave you a clearer picture of how private lending actually works — or inspired you to think bigger about building income around your life — make sure to follow, rate, review, and share the show.