# Accessing Capital for Real Estate Development

An episode of [Earn Your Leisure](https://invisiblenetwork.ai/podcast/1450211392), 5 Aug 2026, 11 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/8dbc4f54-a337-4481-9ef2-b355012b0a3d/4412ebf5-9c49-4f00-acf2-b49a0001a799/audio.mp3?utm_source=Podcast&in_playlist=eac4c628-29cb-469a-b5c8-b355012b0a48

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## Transcript

[0:00] Speaker 1: So how are you moving into different markets, Like what
[0:02] Speaker 1: are some challenges with that. You started where you're from,
[0:05] Speaker 1: but now you're going to Texas and you going to
[0:07] Speaker 1: you say they moved to Atlanta and different things like
[0:09] Speaker 1: and then you're doing different different product types as well. Yeah,
[0:13] Speaker 1: we talk about navigating that.
[0:15] Speaker 2: So relationships, man, it's it's it's everything. I think when
[0:19] Speaker 2: I was coming up in Milwaukee, one of the things
[0:22] Speaker 2: that I did was just build those relationships off network,
[0:26] Speaker 2: and I was at every event. You couldn't miss me.
[0:28] Speaker 2: I literally you could not miss me. I was everywhere.
[0:31] Speaker 2: Uh So I took that same model, but now I'm
[0:33] Speaker 2: doing it on the national scale. Everything in DC real
[0:36] Speaker 2: estate based events, I'm there. I'm not there as much
[0:39] Speaker 2: now because I've been you know, headed down, but I'm
[0:41] Speaker 2: in those Atlanta based events, I'm in that, Houston based events,
[0:45] Speaker 2: I'm in those you know, Birmingham based events, I'm in that.
[0:48] Speaker 2: So I look for the macro economic trends that I
[0:52] Speaker 2: liked population growth. I really like red states and blue
[0:57] Speaker 2: cities because it allows for flexibility and getting out tennis
[1:05] Speaker 2: that may not pay right. I'm not saying you're vic folks,
[1:08] Speaker 2: that's not what I'm here for but at the same time,
[1:11] Speaker 2: places like Atlanta.
[1:14] Speaker 3: Atlanta is in as bad Atlanta's d C. Let's use DC.
[1:17] Speaker 3: For example.
[1:17] Speaker 1: You said red state and blue city.
[1:19] Speaker 3: Yes, those are places like Atlanta.
[1:21] Speaker 1: I likes.
[1:23] Speaker 2: Georgia's Birmingham all blue states, red city. I mean, I
[1:28] Speaker 2: mean traditionally george is not a blue state though it No, no, no,
[1:30] Speaker 2: I mean blue Citi's Red states. I may have said
[1:33] Speaker 2: it the wrong.
[1:33] Speaker 1: What Birmingham would be, Yeah, yeah, for sure, New Orleans, Yes,
[1:39] Speaker 1: stuff like that.
[1:40] Speaker 2: Yeah, I really like blue states, red cities. Sorry, blue cities,
[1:44] Speaker 2: red states because the higher level laws allow for more flexibility,
[1:49] Speaker 2: like a place like DC, for example, there were people
[1:51] Speaker 2: that literally d C prior to the pandemic. You can
[1:55] Speaker 2: go rent an apartment, never pay your rent, and you
[1:59] Speaker 2: don't have to get out for at least seven months
[2:01] Speaker 2: because that's all on the process stakes. Like I know
[2:03] Speaker 2: people that lived in the building that I lived in
[2:05] Speaker 2: that literally leased it and didn't pay rent. They just
[2:08] Speaker 2: leased it out every summer so they can enjoy the
[2:10] Speaker 2: rooftop and they just burn up different people's things like okay,
[2:14] Speaker 2: your name this year, were all gonna live there.
[2:15] Speaker 3: Your name this year? We're all gonna live there.
[2:17] Speaker 1: Are there any Are there any major cities that are
[2:20] Speaker 1: run by Republicans? I don't think so. Right most every
[2:22] Speaker 1: major city run by Democrats. Think about it.
[2:25] Speaker 3: That's a good Chicago, LA.
[2:29] Speaker 1: Miami's a Democrat, the mayor's a Democrat. I don't think
[2:32] Speaker 1: there's any major city that that's interesting. I just thought
[2:35] Speaker 1: about that. No, no major city has demo, has Republican control,
[2:41] Speaker 1: even even if it's in the Republican l A. Yeah,
[2:44] Speaker 1: San Francisco, San Francisco saying yeah, Philly, yeah, and you know,
[2:51] Speaker 1: Pennsylvana's back and forth.
[2:52] Speaker 3: But those those cities, those states.
[2:55] Speaker 2: That have those very like strings and laws, like a
[2:57] Speaker 2: DC for example, I'm not the most fond of. Right,
[3:02] Speaker 2: Like during the pandemic, there are people that literally lived
[3:05] Speaker 2: for over a year just because of the system. And
[3:08] Speaker 2: it's like you're not paying any rent. As a landowner
[3:12] Speaker 2: that has thousands of units, I don't want thousands of
[3:16] Speaker 2: units in the place that I can't get people exploiting
[3:20] Speaker 2: this system. Out in Wisconsin, you get somebody thirty days,
[3:23] Speaker 2: all right, boom, you go through the process. Atlanta even
[3:25] Speaker 2: quicker than that. And I'm not saying we should exploit
[3:28] Speaker 2: it either. But from a business perspective, it doesn't make
[3:31] Speaker 2: sense for me to be in a place where X
[3:33] Speaker 2: amount of people that pay rent, especially as I'm a
[3:35] Speaker 2: rising Like when I get bigger, of course, maybe I
[3:38] Speaker 2: could deal with some of that drop, but right now
[3:40] Speaker 2: now I'm focused on cities where it makes sense financially.
[3:44] Speaker 4: So you moved throughout the cities. I know the HUT
[3:46] Speaker 4: is involved in the Birmingham situation. There was three hundred
[3:48] Speaker 4: and seventy million allocated for the developments. Is it a
[3:54] Speaker 4: situation where you can now again go back to hood
[3:56] Speaker 4: and do the same type of oppose in a different city.
[3:59] Speaker 3: Absolutely.
[3:59] Speaker 2: So, I'm a finalist for three cities right now.
[4:03] Speaker 4: I knew it, man, I knew.
[4:05] Speaker 2: I'm a finalist for three cities right now. I got
[4:07] Speaker 2: a call yesterday about one. We'll talk about the cities offline.
[4:11] Speaker 3: Yeah.
[4:12] Speaker 2: So the strategy and the game plan there is, if
[4:17] Speaker 2: let's say once a year, once every other year, I
[4:19] Speaker 2: can pick up one of these. Birmingham will be further
[4:22] Speaker 2: along now I'm starting that and if each one is
[4:25] Speaker 2: kicking out a thousand plus units, you get three four cities.
[4:28] Speaker 3: I mean by the time I'm thirty four.
[4:31] Speaker 2: Now by the time I'm forty two forty three, I
[4:34] Speaker 2: have thousands of units under my belt that I've developed
[4:37] Speaker 2: and really just starting to enter my prime.
[4:41] Speaker 4: On your financial map, does a percentage change with the
[4:44] Speaker 4: amount of units? Right when you started at the one forty,
[4:47] Speaker 4: you had your percentage that was put in. Now you're
[4:49] Speaker 4: doing eleven hundred, but you have partners.
[4:51] Speaker 3: Yes, great question, Yes it did change.
[4:54] Speaker 2: So each city that you go into their housing authority
[5:00] Speaker 2: that you So all of these are public housing redevelopment.
[5:02] Speaker 2: So think to Brittany Greens, think Marcie Projects, et cetera.
[5:07] Speaker 2: We're taking the projects and creating mixed income communities because
[5:12] Speaker 2: if you think about the projects that were low density,
[5:15] Speaker 2: so it's thirty acres of land with three hundred units
[5:20] Speaker 2: on it, that's saying thirty acres could do three thousand
[5:23] Speaker 2: if you really wanted to, right, But you don't want to.
[5:26] Speaker 2: You don't want to go that dence. But that's just
[5:28] Speaker 2: an example of what you are going after. So, because
[5:33] Speaker 2: the housing authorities typically own those lands, whoever is at
[5:37] Speaker 2: the housing authority, they kind of dictate the negotiation of
[5:41] Speaker 2: like the housing authority and developer in those terms the
[5:44] Speaker 2: housing authority gets x percentage and then the developers gets
[5:47] Speaker 2: why percentage, And right now Integrow and I are splitting
[5:51] Speaker 2: that percentage. But it's very favorable, like it's pretty close
[5:54] Speaker 2: to where it should be. And the way we work
[5:58] Speaker 2: they come. I'm driving, but they're they're every step of
[6:02] Speaker 2: away in the passenger seat. So I'm able to learn
[6:04] Speaker 2: from it in their experience. They've developed, built and manage
[6:06] Speaker 2: over ten thousand plus units. They've been doing this, they
[6:09] Speaker 2: created the model. I'm learning from them, but I'm driving
[6:12] Speaker 2: the ship at the same time. So yes, I have
[6:16] Speaker 2: to share in the economics. But you know, three four
[6:19] Speaker 2: hundred million dollar deals a pop. I don't mind sharing.
[6:23] Speaker 2: We can figure it out. So talk about access to capital.
[6:26] Speaker 2: That's something that you know, don people a lot of
[6:28] Speaker 2: people haven't talked about. What is your thoughts on access
[6:33] Speaker 2: to capital as far as on the real estate development
[6:36] Speaker 2: side and what's your personal experience is trying to get
[6:39] Speaker 2: access to capital the money on this commercial real estate side.
[6:43] Speaker 2: Like I said, the money is gonna be there if
[6:45] Speaker 2: you got to deal to work, the money's gonna flow
[6:47] Speaker 2: at the end of the day. Now, the terms for
[6:49] Speaker 2: the money talked about before that's where it gets a
[6:52] Speaker 2: little tricky. I'll say in a way of George Floyd.
[6:57] Speaker 2: There was an eighteen month period maybe even a little I mean,
[7:02] Speaker 2: it's still kind of there, but it's scaling back where
[7:05] Speaker 2: they were throwing money at black developers.
[7:07] Speaker 1: Who moves stolen money like Blackrock.
[7:10] Speaker 3: Uh No, that's a great question. So like the paypals
[7:14] Speaker 3: of the world.
[7:14] Speaker 2: When they was giving out all of the like oh,
[7:16] Speaker 2: I want to invest in black communities, primarily went to
[7:20] Speaker 2: CDFI's Community Development Financial Institution that we talked about last time.
[7:23] Speaker 2: There's some national cd offis that governed some of those
[7:26] Speaker 2: funds and they've been able to kind.
[7:27] Speaker 3: Of distill those funds to us.
[7:29] Speaker 2: So like Enterprise Community Partners that my equity investors on
[7:31] Speaker 2: the Madison deal, they have a program called Equitable Path Forward.
[7:35] Speaker 2: Their CEO just took over Fanny May. So that's the
[7:40] Speaker 2: scale of like how big these CDFIs are now. They're
[7:45] Speaker 2: one of their presidents, Lrie Chapman. She created this program
[7:49] Speaker 2: based upon all of that money that was coming in
[7:51] Speaker 2: from the corporations that were trying to give to black dollars.
[7:55] Speaker 3: And this program is specifically created to be able to.
[7:59] Speaker 2: They have to credit for us from an operational business perspective,
[8:03] Speaker 2: they have pre development loans so you can go out
[8:05] Speaker 2: each one of these deals, you need at least a
[8:08] Speaker 2: half a million, anywhere from a half a million to
[8:10] Speaker 2: a million before you close. You get it all back
[8:13] Speaker 2: when you finish, but you need that before you close.
[8:15] Speaker 2: So when you talk about like capacity, that's one of
[8:17] Speaker 2: the things too. If you have five of these deals
[8:20] Speaker 2: going on at one time, you're gonna need too and
[8:22] Speaker 2: a half to five million dollars worth of capital just
[8:25] Speaker 2: to deploy to that, not even talking about your operations
[8:27] Speaker 2: and nothing like that. So they have programs that are
[8:30] Speaker 2: allowing for developers to be able to tap into those
[8:32] Speaker 2: type of money that helps us grow in scale. But
[8:35] Speaker 2: the flip side of it is that's all to you know,
[8:40] Speaker 2: kind of feel good money that's gonna flip. But to
[8:43] Speaker 2: don People's point, black people don't manage big pension funds
[8:49] Speaker 2: at all, right, I've heard him talk about it on
[8:52] Speaker 2: y'all's platform. At the end of the day, we're less
[8:56] Speaker 2: than one percent of all of the management, Black brown women,
[9:00] Speaker 2: less than one percent of all assets managed. But if
[9:03] Speaker 2: in New York, for example, with black brown and women.
[9:05] Speaker 2: It is over fifty percent of what's going into that
[9:07] Speaker 2: pension fund. Why is it less than one percent of
[9:10] Speaker 2: us managing or having access to manage those funds. What
[9:13] Speaker 2: is the governance around that to say, oh, you are
[9:16] Speaker 2: not capable enough to do that. That's still a really
[9:18] Speaker 2: big challenge to be able to even go from someone
[9:21] Speaker 2: like myself that's a developer that's established, to get into
[9:24] Speaker 2: funded management and be able to allocate to either my
[9:28] Speaker 2: developments or other developers in the same way as some
[9:31] Speaker 2: of these traditional majority firms are doing with no problem.
[9:36] Speaker 2: So that's really a challenge that I think needs to
[9:39] Speaker 2: be addressed, and I'm doing my job to do it.
[9:42] Speaker 2: So Reinvestors a platform that I'm creating now. It's a
[9:45] Speaker 2: crowdfunding platform that democratizes commercial real esset investment. My mother
[9:49] Speaker 2: can invest, your parents can invest unless they are accredited. Historically,
[9:53] Speaker 2: but you've seen crowdfundings start to grow in the real
[9:56] Speaker 2: estate space a little bit. So I'm doing a regulation
[9:59] Speaker 2: a plus we can raise up to seventy five million.
[10:02] Speaker 2: I'm gonna put a portfolio of deals together and have
[10:06] Speaker 2: people invest in that and back by the best of
[10:10] Speaker 2: the best in the country that are doing it so
[10:12] Speaker 2: it's secure by those funds, I mean buy those firms,
[10:15] Speaker 2: and we underwrite the deals, we co invest in the deals.
[10:17] Speaker 2: It's a it's not like investing in a company. It's
[10:21] Speaker 2: not like investing in a onesie deal. Like we are,
[10:24] Speaker 2: you know, putting together sophistication in a way that the
[10:27] Speaker 2: marketplace has not seen. So that's one of the ways
[10:30] Speaker 2: that I'm addressing that access to capital challenge for emerging
[10:33] Speaker 2: developers that are like me and coming up behind me too.

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