The Value Builder Podcast

Insurance has become one of the biggest pain points in commercial real estate. What if there were a way to stop simply paying premiums and actually participate in the economics of the insurance company?
 
In this episode of the Value Builder Podcast, Saul sits down with Nicolas Lares of Insur3Tech to break down captive insurance and how real estate owners can use alternative insurance structures to potentially lower costs, share risk, and participate in returns when the group performs well.
 
Nicolas explains the difference between traditional insurance, group captives, and independent captives, how reinsurance protects against catastrophic losses, what lenders think about captive coverage, and when a portfolio may be large enough to consider its own captive.
 
They also discuss how aligning incentives between property owners and the insurer can change the claims process and why Nicolas believes good operators may be subsidizing higher-risk owners in the traditional insurance market.
Chapters
00:00 Introduction01:15 How Nicolas Got Into Insurance04:14 The Insurance Crisis That Changed Everything06:03 Building a Group Captive08:11 How Captive Insurance Actually Works10:21 What Happens When Catastrophic Losses Hit?12:57 Why Insurance Works Like a Casino13:53 Will Lenders Accept Captive Insurance?15:30 What Does It Take for a CRE Operator to Get Started?18:53 Becoming a Co-Owner Instead of Just a Customer19:56 When Does Your Own Captive Make Sense?22:49 Why Nicolas Questions Traditional Insurance25:05 The Potential Economics of Captive Insurance28:50 Why Saul Exited Southwest Florida29:13 Rethinking the Insurance Claims Process31:45 How to Connect with Nicolas Lares
Connect with Nicolas Lares
Website: insur3tech.comLinkedIn: linkedin.com/in/nicolas-lares-77a328169Email: nicolas@insur3tech.com
About Value Builder
The Value Builder Podcast features conversations with investors, operators, developers, entrepreneurs, and business leaders focused on creating value through commercial real estate, business ownership, and long-term investing.
#CommercialRealEstate #RealEstateInvesting #CaptiveInsurance #CRE #Insurance #ValueBuilderPodcast

What matters more: building a bigger portfolio or creating more freedom?
In this episode of the Value Builder Podcast, Saul sits down with Danny Newberry of Vail Commercial Group to discuss the evolution of a commercial real estate investor, from multifamily beginnings to retail, industrial, office, development, and beyond.
Danny shares why he shifted away from aggressively growing his company, how he thinks about cash flow versus equity growth, and the framework he uses to decide which deals to hold long-term and which deals to sell.
The conversation also explores today's opportunities in neighborhood shopping centers, small-bay industrial, selective office investments, joint ventures, and the importance of aligning your business with the lifestyle you actually want.
Chapters
00:00 Introduction00:16 From Multifamily to Retail & Industrial02:58 Is Office Coming Back?04:49 Turning Around a 170K SF Houston Flex Building07:53 Why He Walked Away from a Bigger Business12:17 The Cost of Chasing More13:45 The Cash Flow vs Growth Decision Every Investor Faces16:17 Why Cash Flow Creates Peace of Mind18:20 Which CRE Deals Should You Hold Forever?19:40 Partnerships, Capital & Today's Opportunities20:51 How to Connect with Danny Voss21:08 What Are You Most Grateful For?21:53 The Longevity Question22:20 Closing Thoughts
Connect with Danny Newberry
🌐 Website: VailCommercialGroup.com
📧 Email: Danny@VailCommercialGroup.com
About Value Builder
The Value Builder Podcast features conversations with investors, operators, developers, entrepreneurs, and business leaders focused on creating value through commercial real estate, business ownership, and long-term investing.
#CommercialRealEstate #RetailRealEstate #IndustrialRealEstate #CREInvesting #CashFlow #ValueBuilderPodcast #RealEstateInvesting #PassiveIncome

What does it take to build wealth through multiple real estate cycles?
In this episode of the Value Builder Podcast, Saul sits down with Kathy Fettke, co-founder of RealWealth, bestselling author, educator, and longtime real estate investor, to discuss the investing principles that have endured through booms, busts, recessions, and recoveries.
Kathy shares lessons learned from the 2008 financial crisis, the dangers of speculation, the importance of cash flow, and why long-term ownership continues to outperform short-term thinking. She also discusses demographic shifts, housing supply challenges, inflation, and how investors can position themselves for the next phase of the market.
Whether you're buying your first investment property or building a long-term portfolio, this conversation offers a practical framework for navigating uncertainty and creating lasting wealth.
In This Episode
Why buy-and-hold investing continues to outperform market timing
Lessons learned from the 2008 financial crisis
The difference between speculation and investing
Housing supply, demographics, and future demand
Building wealth through cash-flowing assets
Common mistakes investors make during market cycles
How to think long term when markets get volatile
Connect with Kathy Fettke
📧 Website: RealWealth
📱 LinkedIn: Kathy Fettke
🎙 Podcast: Real Wealth Show Podcast

Over the past year, the Value Builder Podcast has featured developers, investors, operators, entrepreneurs, brokers, and builders from across commercial real estate.
Different markets. Different strategies. Different backgrounds.
Yet certain lessons kept showing up again and again.
In this special one-year anniversary episode, Saul reflects on the biggest insights from the first 47 episodes and revisits some of the most memorable moments from guests who shared hard-earned wisdom about business, investing, entrepreneurship, leadership, money, fulfillment, and life.
In this episode, you'll hear lessons on:
Building wealth without losing sight of what matters
Why fundamentals still win in commercial real estate
The difference between income and asset ownership
Entrepreneurship, risk, and resilience
Capital raising and long-term investing
Gratitude, generosity, and legacy
What the best operators seem to understand that most people miss
Whether you've been with us since episode one or you're discovering the show for the first time, this episode captures the themes that shaped the first year of Value Builder.
Thank you to every guest, listener, subscriber, and supporter who helped make year one possible.
Here's to the next chapter.

Shay Yakobovich built commercial real estate wealth, then made a different choice: fewer deals, smaller headaches, and more life.
 
In this episode, Saul sits down with Shay to talk about what happens after you have enough. They cover passive income, lifestyle creep, gratitude, giving back, and why chasing bigger deals is not always the right answer.
 
In this episode, you’ll learn:
Why Shay stepped away from chasing larger CRE deals
How he built a team that lets him work only a few hours a week
Why “less is more” became his operating philosophy
How gratitude and giving back changed his view of wealth
What smaller retail and flex deals can offer that larger deals often cannot
Why sleeping well at night became part of his investment criteria
 
Connect with Shay on LinkedIn: https://www.linkedin.com/in/shay-yakobovich-783296a3/
 
This episode is for CRE operators and investors asking a deeper question: what is all this work actually for?

Joe Fairless has built one of the largest multifamily investment platforms in the country, overseeing more than 14,000 units and $3.9B in assets across the Sunbelt. In this episode, Saul sits down with Joe to break down what it actually takes to operate at that scale, how today’s multifamily market is really performing behind the headlines, and why disciplined operations matter more than ever in this cycle.
The conversation dives into capital raising, supply pressure, concessions, property management, and the realities of navigating large-scale apartment investing during a shifting market environment.
Listener takeaways include:
How Joe scaled to 14,000+ units and a $3.9B portfolio
What’s really happening in Sunbelt multifamily markets right now
Why concessions and supply pressure are lasting longer than expected
How institutional-quality operations create long-term stability
The importance of diversifying capital sources and investor relationships
What experienced operators are watching over the next 12–18 months
Whether you're an active multifamily operator, passive investor, syndicator, or CRE entrepreneur, this episode offers a practical look into managing large apartment portfolios through changing market conditions.
Connect with Joe Fairless:
LinkedIn: https://www.linkedin.com/in/joefairlessPodcast: https://www.bestevercre.com/podcastWebsite: https://ashcroftcapital.com
🔔 Subscribe for weekly conversations with commercial real estate operators, investors, and builders creating long-term value.
#CommercialRealEstate #MultifamilyInvesting #ApartmentInvesting #RealEstateInvesting #CapitalRaising #CRE #ValueBuilderPodcast

In this episode of The Value Builder Podcast, Saul sits down with Cody Payne of Flex Parks USA, one of the most experienced operators in small bay flex industrial, alongside partner Shea Lewis. With over 20 years in the space and more than 10,000 transactions closed, Cody breaks down what’s actually happening in today’s flex industrial market—from rent trends and tenant demand to why newer metal product is outperforming traditional infill.
This conversation goes beyond surface-level insights and gets into what’s really driving pricing, leasing velocity, and investor behavior in 2026.
In this episode, you’ll learn:
Why newer metal flex parks are commanding higher rents than infill assets
The real difference between contractor-driven demand vs growth-driven markets
What buyers are actually looking for in stabilized vs value-add deals
How tenant mix, clear height, and location impact long-term performance
Why basic “commodity” flex space is most at risk of oversupply
The key amenities and features that separate top-performing parks
From development strategy to disposition insights, this episode gives a clear look at where flex industrial is heading—and how to position yourself on the right side of it.
Connect with Cody:Amazon: https://www.amazon.com/Flex-Space-Domination-Capitalizing-Industrial/dp/B0D385755LLinkedIn: https://www.linkedin.com/in/codypayne/Online: https://flexbusinessparks.com/

Tim Chen brings a ground-level view of what’s actually happening in multifamily today—from rapid expansion during peak markets to navigating one of the toughest cycles in recent memory. After scaling from brokerage into ownership and development, Tim shares how shifting strategies, controlling costs, and thinking long-term are shaping his current approach.
In this episode, you’ll learn:
Why many multifamily deals are underwater and what caused it
How rising rates and stalled rent growth are reshaping underwriting
Why development can outperform value-add in certain markets
How California’s property tax structure changes long-term strategy
Where real deal flow is coming from in today’s market
Why vertical integration is becoming a competitive advantage
Connect with Tim:Email: tc@connectedcompanies.comPhone: (949) 391-6668LinkeIn: https://www.linkedin.com/in/timdchen/Website: https://www.connectedcompanies.com/
This episode is for operators, investors, and builders who want a clear, honest look at today’s market—and how to adapt without relying on yesterday’s playbook.

Aleksey Chernobelskiy went from managing a $10B real estate portfolio to building one of the most practical platforms in CRE capital markets.
In this episode, he breaks down how GPLP Match is simplifying the connection between GPs and LPs—without fees, without friction, and without the noise.
In this episode, you’ll learn:
Why capital raising in CRE is still inefficient
How GPLP Match filters and connects the right investors
What LPs actually look for beyond IRR
Why most deal decks fail before they’re even read
The difference between short-term and long-term capital strategies
This episode is a clear look at where capital markets are heading—and what operators need to fix if they want to compete.
If you're raising capital or deploying it, this one gives a real-world edge.
Contact Aleksey on LinkedIn: https://www.linkedin.com/in/chernobelskiy/
Sign up as a GP or LP at: https://gplpmatch.com/

Pat Hiban of Gobundance has done what most in real estate never reach—over $1B in sales, a dominant team, and a successful transition into multifamily investing and passive income. But what stands out now isn’t what he built… it’s what he walked away from.
In this episode, Pat breaks down how he engineered a life working just 90 minutes a day, why he left commissions behind, and the simple framework he now uses to evaluate every opportunity that comes his way.
In this episode, you’ll learn:
Why high-volume sales eventually stops being the right game
The shift from transactional income to true “horizontal” income
How the 2008 crash forced a complete career pivot
Why most side hustles fail—and how to quit them fast
The “Easy, Lucrative, Fun” filter for evaluating deals
How Gobundance scaled into a 1,000+ member network organically
Pat’s story is a reminder that success isn’t just about building more—it’s about building better, then knowing when to step back.
If you're chasing freedom, rethinking your business model, or evaluating what’s actually worth your time, this conversation will recalibrate how you approach the next opportunity.
 
Contact/Links
Email - pat@hiban.com
Gobundance - https://gobundance.com
Matt King - The Ride - https://gobundance.com/theride
 
Chapters
00:00 Introduction to Pat Hiban
03:54 Life Updates and Work Balance
10:31 Transitioning from Real Estate Sales
15:22 Side Hustles and Lessons Learned
22:36 The Journey of Adapt Acquisitions and GoBundance
24:17 The Magic Touch in Business Ventures
25:05 Real Estate Cycles and Future Predictions
28:57 Exploring New Business Models
36:39 The Evolution of GoBundance
45:48 Connecting with Pat Hiban