Global Investors: Investing in U.S. Real Estate

GI355: Why High-Income Professionals Fail at Real Estate Investing with Buck Joffrey, MD

High income does not always mean financial freedom. In this episode, Charles Carillo interviews Buck Joffrey, MD — a surgeon turned entrepreneur, real estate investor, and host of Wealth Formula Podcast.
Buck shares why many high-income professionals struggle to build real wealth, how he moved from medicine into real estate, and why cash flow matters more than income alone.
They also discuss today’s multifamily market, distressed buying opportunities, value-add investing, operator due diligence, leverage, cash reserves, and what passive investors should watch before investing in a deal.
Learn More About Buck Here: 
Wealth Formula - https://www.wealthformula.com/
Connect with the Global Investors Show, Charles Carillo and Harborside Partners:
◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com
◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/

SS277: How Expense Ratios Kill (or Save) Deals?

One of the biggest mistakes in real estate investing is underestimating expenses—and it can quietly destroy your property’s value. In this video, we break down how expense ratios work, why they matter in multifamily underwriting, and how small expense errors can wipe out hundreds of thousands in value.
If you want to analyze real estate deals like a pro, understanding expense ratios is non-negotiable. This video will show you how to identify hidden costs, avoid bad deals, and uncover real opportunities.
What you’ll learn:
What a good expense ratio is for multifamily properties
How expense ratios impact property value
Why beginners miscalculate expenses
How to analyze rental property expenses step by step
Common underwriting mistakes investors make
If you're serious about multifamily investing and real estate deal analysis, this breakdown will give you a practical edge.
Links Referenced in Episode:
SS273: Multifamily Expense Ratio - https://youtu.be/aC05w_SRiGk
Connect with the Global Investors Show, Charles Carillo and Harborside Partners:
◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com
◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/

GI354: Why Smart Real Estate Investors are Switching to Industrial with Irwin Boris

In today’s market, many real estate investors are rethinking their strategy — especially in multifamily.
Rising operating costs, tighter margins, and increased competition are forcing investors to look for more stable, cash-flowing opportunities.
In this episode of the Global Investors Podcast, Irwin Boris shares why more investors are shifting toward small-bay industrial real estate — a less talked about asset class that offers strong tenant demand, lower volatility, and consistent cash flow.
Irwin breaks down his journey from CPA and underwriter to industrial real estate investor, and explains how his operator-first mindset gives him an edge in today’s uncertain market.
You’ll learn why small-bay flex industrial is gaining traction, how tenant behavior drives long-term stability, and what smart investors are looking for when entering new markets.
If you're investing in multifamily or thinking about diversifying your portfolio, this episode will give you a clear perspective on where the market is heading.
WHAT YOU’LL LEARN:
Why investors are moving away from multifamily
The real challenges of operating apartments today
What small-bay industrial real estate actually is
Why industrial tenants are more “sticky”
How to evaluate new real estate markets
The importance of conservative leverage and cash flow
Why many syndication deals are failing today
How experienced investors manage risk
Learn More About Irwin Here:
Peykar Capital LLC - https://www.peykar.capital/
Connect with the Global Investors Show, Charles Carillo and Harborside Partners:
◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com
◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/

SS276: When to Renovate Units—and When Not To

Most investors overpay for apartment renovations—and it quietly destroys their returns.
In this episode, we break down a smarter renovation strategy used by experienced multifamily investors to maximize ROI and avoid costly mistakes. You’ll learn how to apply the 36-month payback rule, how to analyze rent comps correctly, and why simple upgrades often outperform full renovations.
If you’re investing in rental properties or multifamily real estate, this framework will help you increase NOI, improve cash flow, and make better capital allocation decisions.
What you’ll learn:
The 36-month renovation payback rule explained
When to renovate (and when not to)
How to avoid over-renovating your units
Light vs full renovation: which performs better
How to test renovation levels across units
How to use rent comps the right way
This is essential for anyone focused on apartment renovation ROI, multifamily investing, and value-add strategies.
🎯 If you found this helpful, subscribe for more real estate investing strategies and weekly insights.
 
Links Referenced in Episode:
SS219: Transforming Properties: The Untold Value of Minor Renovations - https://youtu.be/fN7h6xCTlJc
Connect with the Global Investors Show, Charles Carillo and Harborside Partners:
◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com
◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/

GI353: From $500 to a $12M Real Estate Portfolio with Andres Bernal

He came to the U.S. with just $500… and turned it into a $12M real estate portfolio. In this episode of the Global Investors Podcast, Andres Bernal breaks down exactly how he built his portfolio from the ground up — from his first deal to scaling flips, rentals, and a team that runs the operation. This is not theory. It’s a tactical breakdown of what actually works in real estate today.
You’ll learn:
How Andres went from working 50–60 hours a week to building financial freedom
The exact strategy behind flipping 50+ properties in 2 years
How he built a contractor team from scratch (without connections)
Why student rentals outperform traditional rentals in certain markets
The truth about Section 8 investing (and why most investors misunderstand it)
How to screen tenants properly to avoid costly mistakes
When to sell properties and redeploy capital for better returns
The biggest mistakes new real estate investors make (and how to avoid them)
If you're serious about building wealth through real estate, this episode gives you a real-world blueprint — no fluff, no hype.
 
Learn More About Andres Here:
LinkedIn - https://www.linkedin.com/in/andres-bernal-6b6716398/
Connect with the Global Investors Show, Charles Carillo and Harborside Partners:
◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com
◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/
 
 
 

SS275: How to Spot Over-Optimistic Rent Growth

If you’re underwriting a multifamily deal and relying on rent growth… you might already be making a costly mistake.
Over-optimistic rent projections are one of the biggest reasons apartment deals look great on paper—but fail in real life. In this video, we break down how to spot unrealistic rent growth, how to analyze true market rent vs current rent, and how to avoid overpaying for a deal.
Whether you're an active investor or a passive investor reviewing deals, understanding this one assumption can protect your downside and improve your long-term returns.
What you’ll learn:
The difference between current rent and true market rent
How to analyze rent comps correctly
Why “3% rent growth” is often misleading
How new supply impacts rent growth
The biggest underwriting mistakes investors make
If you want to avoid bad deals and make smarter investment decisions, this is a must-watch. Subscribe for more multifamily investing strategies and real estate insights.
 
Links Referenced in Episode:
SS236: How To Raise Rents Without Losing Tenants - https://youtu.be/AZMOE35popA
Connect with the Global Investors Show, Charles Carillo and Harborside Partners:
◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com
◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/
 

GI352: Real Estate vs. Small Business: Diversifying into Both with Dr. Jason Balara

If you think real estate is the best way to build passive income… you might be missing a huge piece of the puzzle.
In this episode of the Global Investors Podcast, Dr. Jason Balara breaks down the real difference between investing in multifamily real estate and acquiring small businesses — and why combining both could be the smarter strategy for long-term wealth.
We go beyond the typical “passive income” narrative and talk about what actually happens when markets shift, cash flow slows down, and investors are forced to adapt.
You’ll learn:
Why real estate cash flow is often slower than expected
How small businesses can generate faster income
The biggest mistake investors make with leverage and debt
How to balance cash flow vs long-term appreciation
What changed after interest rates disrupted the market
How experienced investors really think about risk
If you're trying to decide where to put your money, this conversation will challenge your assumptions.
Learn More About Jason Here:
Lark Capital Grouphttps://www.larkcapital.com/
Connect with the Global Investors Show, Charles Carillo and Harborside Partners:
◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com
◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/
 

SS274: How Long-Term Debt Protects Your Returns

If you think interest rates are the most important part of a real estate deal… you might be making a costly mistake.
In this episode, we break down why loan term matters more than interest rate and how short-term debt has destroyed deals—especially in volatile markets like 2022–2023.
Most investors focus on getting the lowest rate possible. But the real risk isn’t the rate… it’s the structure of your debt.
You’ll learn how long-term debt:
Protects your downside during market shifts
Reduces refinancing risk
Builds equity over time
Uses inflation to your advantage
Gives you the flexibility to survive downturns
If you want to invest safely and avoid forced sales or bad refinancing decisions, this is a must-watch.
Links Referenced in Episode:
SS47: How To Reduce Your Real Estate Debt With Inflation - https://youtu.be/wyPo_5zNnuM
Connect with the Global Investors Show, Charles Carillo and Harborside Partners:
◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com
◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/
 

GI351: How Zero-Deposit Leasing Is Changing Multifamily With Andrew Bowen

Why investors are killing security deposits and what’s replacing them in multifamily real estate. In this episode, Andrew Bowen breaks down how zero-deposit leasing is changing NOI, reducing bad debt, and reshaping leasing strategy across the industry. Security deposits have quietly collapsed over the last decade but most investors don’t realize the hidden risk this creates.
In this conversation, we dive into:
Why traditional security deposits are becoming obsolete
The difference between physical occupancy vs economic occupancy
How bad debt is quietly eating into multifamily returns
How zero-deposit leasing works (and why operators are adopting it)
The role of lease insurance in protecting owners
How fraud, skips, and poor screening impact NOI
Why better operations — not just higher rent — drives real value
If you’re investing in multifamily or analyzing deals, this episode will change how you think about risk, leasing, and long-term returns. 
 
If you’re serious about building wealth through real estate investing, make sure to subscribe and turn on notifications.
 
Learn More About Andrew Here:
LeaseLock - https://leaselock.com/
Connect with the Global Investors Show, Charles Carillo and Harborside Partners:
◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com
◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/
 

SS273: Multifamily Expense Ratio

Understanding the multifamily operating expense ratio is critical for analyzing apartment building investments. Two properties may generate the same income, but their operating expenses can be dramatically different — and that difference can make or break your investment returns.
In this episode of Strategy Saturday, Charles Carillo explains how the operating expense ratio in real estate works, how to calculate it, and how investors use it to evaluate multifamily deals. You’ll learn what expenses are included, what costs are excluded, and why the commonly referenced 50% expense rule can be a useful benchmark when underwriting apartment buildings.
This video also covers typical expense ratio ranges for Class A, Class B, and Class C multifamily properties, and explains how factors like property age, market conditions, management efficiency, and deferred maintenance can impact operating expenses.
Whether you're analyzing your first rental property or evaluating a large apartment complex, understanding the expense ratio for multifamily investing can help you identify hidden risks and avoid bad deals.
In this video you’ll learn:
• What the operating expense ratio is in multifamily real estate• How to calculate operating expense ratio step-by-step• What operating expenses are included in real estate analysis• Typical expense ratio benchmarks for Class A, B, and C properties• Common underwriting mistakes investors make when analyzing expenses• How expense ratios help investors identify potential deal risks
Understanding operating expenses is one of the most important skills in multifamily underwriting, and mastering this metric will help you evaluate deals more confidently.
Links Referenced in Episode:
SS114: Most Important Expenses When Underwriting an Apartment Building - https://youtu.be/xWtVXSre3xk
Connect with the Global Investors Show, Charles Carillo and Harborside Partners:
◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com
◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/