Ritter on Real Estate

On this week’s episode, Kent is joined by Gene Trowbridge. Gene, a veteran securities attorney and former syndicator, breaks down potential SEC and Congressional changes to accredited investor rules, including proposals to exclude retirement accounts from net worth calculations, raise income and net worth thresholds, or introduce a qualifying exam. They also explore the debate over allowing 401k funds into alternative investments, the regulatory gray area around finders and referral compensation, and the ongoing tension between capital formation and investor protection. Gene closes by sharing practical advice for both sponsors and passive investors, emphasizing track record, continuity planning, skin in the game, and preparing for risks like rising interest rates and market downturns Where to find Gene: https://www.facebook.com/gene.trowbridge.1https://www.youtube.com/@tnllphttps://www.instagram.com/trowbridgelawgroup/https://x.com/law_trowbridgehttps://www.linkedin.com/company/trowbridge-law-group-llpKey Takeaways ● Accredited investor rules may change. Retirement accounts could be excluded from net worth. Income and net worth thresholds may also increase. ● The SEC is balancing capital formation with investor protection. More access to deals means more potential risk. ● Congress is considering allowing 401k funds into alternative investments. Employer liability is a major concern. ● Finder rules are still unclear. Getting paid to raise money without being a broker-dealer remains risky. ● Investors should vet sponsors carefully. Look for track record, continuity, sponsor capital invested, and clear liquidity terms.Check us out on socials: InstagramLinkedInYoutubehttps://hudsoninvesting.com/Production by Outlier Audio

On this week’s episode, Kent is joined by Eddie Speed. Eddie shares how note investing allows individuals to step into the role of the bank, generating strong cash flow backed by real estate while avoiding the headaches of being a landlord. He explains why today’s market conditions, including tighter underwriting and compressed rental margins, have created a major opportunity to serve creditworthy borrowers who do not fit traditional lending boxes. The conversation dives into risk management, loan servicing, and how investors can build scalable, time-efficient income by owning debt instead of property. Where to find Eddie: ● https://noteschool.com/ Key Takeaways ● Note investing allows individuals to act as the bank, earning consistent interest income backed by real estate instead of relying on rental cash flow and appreciation. ● Current market conditions, including inflation and tighter underwriting standards, have created a large underserved borrower segment that private note investors can serve. ● Strong risk management comes from buying notes at a discount to the property’s value, creating an equity cushion that protects the investor. ● Loan servicers handle payment collection, compliance, taxes, and insurance monitoring, making note investing significantly more passive than managing rental properties. ● Note investing can complement traditional real estate strategies by providing scalable, time-efficient cash flow while reducing operational headaches.Check us out on socials: InstagramLinkedInYoutubehttps://hudsoninvesting.com/Production by Outlier Audio

On this week’s episode, Kent is joined by Dwight Dunton. Dwight shares how he built Bonaventure from a single 378-unit acquisition at age 25 into a vertically integrated platform with billions in assets by prioritizing discipline, risk management, and long-term thinking. He explains why fixed-rate debt, conservative leverage, and true sponsor alignment are critical to surviving downturns and compounding wealth over decades. The conversation also explores vertical integration, tax-efficient strategies, and how demographic tailwinds like senior housing and generational wealth transitions are shaping the firm’s next chapter. Where to find Dwight: https://www.linkedin.com/company/bonaventure/ www.bonaventure.com https://www.linkedin.com/in/dwightdunton/Key Takeaways ● Long-term wealth is built by avoiding permanent capital loss, not by chasing short-term returns or high leverage. ● Fixed-rate, long-duration debt acts as protective armor during downturns, allowing operators to focus on performance instead of fighting lenders. ● True alignment means sponsors invest significant personal capital alongside investors and structure deals with consistent incentives. ● Vertical integration should only be built when it improves outcomes, reduces volatility, or enhances resident experience. ● Secular tailwinds such as aging demographics and tax-efficient 1031 strategies create durable opportunities that extend beyond typical market cycles.Check us out on socials: InstagramLinkedInYoutubehttps://hudsoninvesting.com/Production by Outlier Audio

On this week’s episode, Kent is joined by Zach Feldman. Zach breaks down the nuances of student housing, from renting by the bed with parental guarantors to achieving near full occupancy by pre-leasing a year in advance, and explains why location and university enrollment trends are critical to success. He shares how top operators differentiate through hospitality-driven design, health and wellness amenities, and hyper-targeted market selection as construction costs rise and viable development markets shrink. The conversation also explores how shifting enrollment patterns, school branding, and strong athletic programs can fuel demand, making student housing a defensible and potentially high-performing niche for passive investors. Where to find Zach: ● https://www.aptitudere.com/ ● Email: zf@aptitudere.com Key Takeaways ● Renting by the bed offers a different financial structure. ● Operational management in student housing is more intensive. ● Demand in student housing can be accurately assessed. ● Sports performance can influence student applications. ● Construction costs and market selection are critical for success.Check us out on socials: InstagramLinkedInYoutubehttps://hudsoninvesting.com/Production by Outlier Audio

On this week’s episode, Kent is joined by Curtis Edwards. They dive into the details of a new Hudson Investing project, the 300-unit Maple Knoll Apartments in Westfield, Indiana, breaking down why it exemplifies their current investment strategy. Curtis and Kent discuss how a focus on high-growth markets, operational efficiencies, and simple, smart renovations can create strong, risk-adjusted returns. They also address investor questions about expense reductions, supply risks, and how disciplined execution and market timing can lead to an early, profitable exit. Where to find Curtis: ● linkedin.com/in/curtis-edwards-57b6427 Key Takeaways ● Maple Knoll Apartments is a 300-unit property in Westfield, Indiana. ● The property is classified as an institutional class asset. ● Key factors in property acquisition include market growth and risk-adjusted returns. ● Expense reduction strategies can lead to significant NOI lifts. ● Understanding competitive positioning is crucial for long-term success. Check us out on socials: InstagramLinkedInYoutubehttps://hudsoninvesting.com/Production by Outlier Audio

On this week’s episode, Kent is joined by Ben Kanner. They dig into why EV charging has quickly shifted from a “nice-to-have” sustainability feature to a real, capital-efficient value-add for multifamily owners. Ben explains how growing EV adoption, renter demand, and rent premiums are creating a compelling NOI opportunity—especially when paired with a no-upfront-cost infrastructure model. The conversation breaks down how EV charging can reduce vacancy, improve resident retention, and generate incremental revenue without adding operational burden for owners.Where to find Ben:Email: bkanner@3vinfrastructure.comWebsite: https://www.3vinfrastructure.comKey TakeawaysEV charging is no longer just about sustainability—it’s a revenue and NOI strategy for multifamily owners.Roughly one-third of renters are interested in EV charging and are willing to pay more in rent for the amenity.A no-cost infrastructure model allows owners to add EV charging without upfront capital or monthly fees.Properly maintained and priced chargers align incentives between operators, residents, and infrastructure providers.EV adoption varies by market, making localized underwriting critical to long-term success.Check us out on socials: InstagramLinkedInYoutubehttps://hudsoninvesting.com/Production by Outlier Audio

On this week’s episode, Kent is joined by Mark Kenney, co-founder of Think Multifamily, for a candid conversation on what real market downturns actually teach long-term operators. Mark draws on 30+ years of experience and recent hard lessons from the multifamily correction to unpack what broke, what held, and what investors must rethink around debt, partnerships, and risk. They dive into the realities of floating-rate debt, insurance shocks, tax surprises, and why “boring” markets can outperform during volatility. The episode is a grounded, experience-driven look at how to scale responsibly—and how to avoid mistakes that only show up when the market turns.Where to find Mark:thinkmultifamily.com https://www.linkedin.com/in/mark-kenney-566065142/ https://www.youtube.com/@MarkKenneyMultifamily https://linkedin.com/company/thinkmultifamily.com https://www.youtube.com/c/ThinkMultifamily https://www.instagram.com/thinkmultifamily/ https://www.facebook.com/multifamilyinvestorsKey TakeawaysFloating-rate bridge debt amplified risk during the downturn; fixed, long-term debt can dramatically reduce uncertainty.Market selection matters more than ever—boring Midwest markets often fell far less than overheated Sunbelt metros.Insurance, taxes, and interest rate caps can change faster and more severely than underwriting models assume.Partnerships need clear decision-making authority; 50/50 structures without a tiebreaker are a major risk.Passive investors must understand debt, contracts, and assumptions—not just “trust the operator.”Check us out on socials: InstagramLinkedInYoutubehttps://hudsoninvesting.com/Production by Outlier Audio

*This is a previously aired episode* On this week’s episode, Kent is joined by Robert Preston to explore why RV parks are an underrated and increasingly compelling real estate asset class. Robert shares his journey from single-family flips to multifamily, mobile home parks, and ultimately RV parks, explaining how lower competition, strong cash flow, and operational upside drew him into the space. The conversation dives into seasonality, Sun Belt market selection, and how small operational changes—like dynamic pricing and improved amenities—can drive outsized returns. Robert also breaks down the key barriers to entry, including management complexity and financing challenges, and why those hurdles can actually create opportunity for experienced operators.Where to find Robert:Company: Clime CapitalWebsite: https://climecapital.comEmail: robert@climecapital.comKey TakeawaysRV parks offer higher cap rates and less competition compared to multifamily, especially for investors willing to self-manage.Seasonality and climate matter—parks in temperate Sun Belt markets can achieve more consistent year-round revenue.Small operational improvements, like pricing adjustments and better Wi-Fi, can quickly boost NOI with minimal capex.Scale is critical: parks need enough sites and revenue to support quality on-site management.RV parks blend hospitality and real estate, requiring a different mindset than traditional apartments.Books MentionedRich Dad Poor Dad – https://www.richdad.com/products/rich-dad-poor-dadPitch Anything – https://www.pitchanything.com/bookThe Creature from Jekyll Island – https://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/091298645XCheck us out on socials: InstagramLinkedInYoutubehttps://hudsoninvesting.com/Production by Outlier Audio

On this week’s episode, Kent is joined by Matthew Medrano to break down why real estate financing often gets harder as investors scale—and what smart investors can do before they stall out. Matt explains how traditional banks underwrite borrowers, why arbitrary lending caps exist, and how asset-based and DSCR lending can unlock continued growth beyond the first 5–10 properties. The conversation demystifies private lending, debt service coverage ratios, and why cash flow, not personal income, becomes the focus as portfolios grow. Kent and Matt also dive into common lending mistakes, the danger of chasing interest rates alone, and how strong lender relationships can make or break a deal.Where to find Matthew:Website: https://dynamocapital.comEmail: matthew@dynamocapital.comKey TakeawaysTraditional banks often cap lending based on the borrower, not the property—creating friction for successful investors.DSCR loans focus on property cash flow rather than personal income or W-2s.Interest rate alone doesn’t define a good loan; fees, prepayment terms, and certainty to close matter just as much.Private lending works best as a long-term relationship, not a one-off transaction.Reading loan terms carefully can prevent costly surprises at exit.Check us out on socials: InstagramLinkedInYoutubehttps://hudsoninvesting.com/Production by Outlier Audio

On this week’s episode, Kent is joined by Bob Fraser. Bob explains why many passive investors underperform not because they choose bad deals, but because they misunderstand portfolio construction and risk. He breaks down how volatility quietly erodes compounding, why true diversification requires uncorrelated assets, and how family offices think differently about capital preservation. The conversation also explores private credit, real estate’s role in reducing portfolio swings, and why operator alignment matters most when markets turn.Where to find Bob:Website: https://investlikeabillionaire.orgCompany: https://aspenfunds.usLinkedIn: https://www.linkedin.com/in/bobfraser10/Key TakeawaysVolatility can destroy long-term returns even when average performance looks strongTrue diversification means owning assets that do not move together during downturnsFamily offices prioritize downside protection over headline returnsPrivate credit and preferred equity can reduce portfolio risk while generating incomeOperator co-investment is one of the strongest indicators of alignmentCheck us out on socials: InstagramLinkedInYoutubehttps://hudsoninvesting.com/Production by Outlier Audio