Truly Passive Income

Dr. Tim Fergestad treats every investment as a hypothesis. You never prove it right, he says. You keep trying to prove it wrong and see whether it still holds water. Dr. Tim Fergestad is a neuroscientist turned real estate investor and the founder of Oak Street Assets. He joins Neil and Clint to talk about writing your investment criteria down in advance so emotion stays out of the decision, the c...

Will Harvey started a lending fund by accident: a borrower putting 75% down on a million dollar house needed a first lien loan, and the deal was too good to turn down. Today his fund pays investors 8.5% to 10% fixed returns, monthly, by financing the deals that don't fit a bank's box. Will Harvey is the founder and managing partner of Harvey Capital, a 506(c) fund that holds first lien real estate...

Chris Naugle had a 36-unit rental portfolio bought at about $16,000 a door, and he still had to sell all of it in 2014. In his words: "I had cash flow, but I had no liquidity." Chris is a former professional snowboarder who became a Wall Street financial advisor, a real estate investor, and the founder of The Money School and the Private Money Club. He came close to bankruptcy twice. In 2008 a har...

After nearly five decades and more than 100 developments, John McNellis has a contrarian view of the metric the industry runs on: the IRR, he says, is "an utter load of crap." John McNellis is the co-founder of McNellis Partners, the Northern California firm he started 43 years ago with two colleagues, Beth Walter and Mike Powers. Together they have developed more than 100 properties, principally...

Mikkel Thorup left school at twelve, dropped out at fifteen, and started traveling as a teenager. Twenty six years later he has lived in nine countries, visited more than a hundred and twenty, met his wife in Germany, married her in Africa, and had four children born in four different countries. He has never owned a single piece of real estate in the United States. Mikkel is the founder of Expat M...

After more than 100 syndications, a string of capital calls, two operators who turned out to be running Ponzi schemes, and the worst stretch the LP world has seen in a decade, Jim Pfeifer has a very different set of questions than he did in 2018. Jim Pfeifer is a former teacher and financial advisor turned full-time limited partner, and the founder of Passive Pockets, the community he started as L...

With 24 years and more than 200 deals behind him, full-time passive investor Jeremy Roll explains the single metric that tells him whether to deploy capital or stay on the sidelines, and why most LPs get the timing exactly wrong. Jeremy Roll has been a full-time passive cash flow investor since 2007 and currently holds positions in more than 60 deals across over a billion dollars in assets. In thi...

Patrick Grimes lost everything in a speculative deal before the 2009 crash, rebuilt as an engineer, and now manages a diversified portfolio spanning apartments, litigation finance, and medical receivables that perform regardless of stock market cycles. Patrick Grimes is the founder and CEO of Passive Investing Mastery and a former robotics engineer who learned the hard way that concentrating in on...

Only 12% of couples who walk down the aisle end up in a truly fulfilling marriage, the same success rate as making it through Navy SEAL training. Larry Hagner has spent 11 years and 1,500 interviews figuring out why, and what fathers can do about it. Larry Hagner is the founder of The Dad Edge, host of one of the longest-running fatherhood podcasts in the world, and author of The Pursuit of Legend...

What if chasing cash flow is actually costing high-income earners more in taxes than it's worth? Dr. Benjamin Aaker, an ER physician and multifamily syndicator, built a contrarian strategy around equity growth and tax-deferred wealth that made work optional a full decade ahead of schedule. Dr. Benjamin Aaker is an emergency medicine physician, multifamily syndicator, and author of Your Authority P...

A single infrastructure bottleneck, municipal sewer capacity, is quietly killing housing deals across the country. Tom Bartlett has spent 27 years solving it with compact wastewater treatment plants that cut developer costs by 40 to 50%. Tom Bartlett is the founder of Aquatech Systems, a company building decentralized wastewater treatment plants that allow developers to bypass overburdened municip...

Paul Moore reviewed over 1,100 deals last year and invested in only six, a filter rate that reveals just how seriously the founder of Wellings Capital approaches risk in today's market. Paul Moore runs Wellings Capital, a real estate private equity firm managing roughly $180 million across self-storage, mobile home parks, industrial, and multifamily assets. A self-described former "certified shiny...

AI for small business owners is no longer optional - but most people are decorating the penthouse before the foundation is laid. Former NYC managing broker Gus Waite spent 20 years leading over 100 agents in corporate relocation before retiring and going all-in on artificial intelligence for independent real estate professionals. Now he helps business owners close gaps, simplify operations, and sp...

Cory Jacobson grew a 95-unit real estate portfolio by turning a podcast into a deal-sourcing and capital-raising engine, without cold-calling a single investor. Cory Jacobson and his partner Ryan launched the Wealth Juice Podcast during COVID to share their early investing mistakes publicly. By year six, that real estate podcast had become their primary capital-raising tool: limited partners found...

Your CPA may be costing you $50,000 or more every year without even knowing it. Tax strategist Chris Miller reveals why. Chris Miller, founder of One Atlanta Tax Solutions with over 15 years bridging the financial and tax worlds, explains why most CPAs are trained to be reactive rather than proactive and how that gap costs high earners tens of thousands annually. You will learn about leveraged cha...

Pre-IPO investing lets you buy into proven companies before the public stock market ever gets a chance - and the returns can dwarf traditional assets. Neil Kayal, founder of Grain Ventures and senior M&A executive at a Fortune 10 healthcare company, breaks down how late-stage private market investing works and why it belongs in a diversified portfolio alongside real estate and public equities....

Eddie Speed has purchased over 50,000 mortgage notes in a 45-year career, and he believes today's market is uniquely primed for seller-financed note investing. In this episode, Eddie breaks down how landlords can convert rental portfolios into performing notes, dramatically boosting cash flow while shedding maintenance headaches. He explains his mortgage-bank-style underwriting system, how he crea...

Episode Description Brandon Cobb, CEO of HBG Capital, reveals how he turns raw land into approved housing communities and sells finished lots to national builders like Lennar and D.R. Horton. In this episode, he breaks down t...

Dr. Avishkar Sabharwal, founder and CEO of Satya Carbon, breaks down how the carbon credit market actually works and why it matters for passive investors. From voluntary offsets to compliance programs, he explains the massive quality gap between credits trading at $3 and those worth $500 or more. Learn how his platform vets projects using evidence-based due diligence, adds insurance layers for buy...

ER physician reveals how she cut shifts from 19 to 8 per month using multifamily real estate — and why conservative underwriting saved her investors when others failed. In this episode of Truly Passive Income, Neil Henderson and Clint Harris sit down with Dr. Nkem Ezeamama, an ER physician turned real estate syndicator and founder of Phoenix Capital Investments. Dr. Nkem shares how private equity...

Chris Miles, founder of Money Ripples and author of Work Optional Blueprint, joins the show to break down why the traditional nest egg approach to retirement is failing most investors. From the flawed 4% rule to the&nbsp...

Self-storage investing secrets from a 20-facility veteran operator. Learn how mom-and-pop acquisitions, seller financing, and pro storage units are creating double-digit returns in 2025. Joe Downs, co-founder of the Bellrose Group, joins Neil and Clint to break down the massive opportunity hiding in fragmented self-storage markets. With 80% of facilities still owned by mom-and-pop operators, Joe r...

Dr. Chirag Chaudhari's investing origin story is one that resonates with nearly every high-income professional. He bought a home during residency, lived in it for three years, and when he sold it, the profit exceeded his entire residency salary. That single transaction planted a seed. Over the next decade, every time a bonus check arrived and the family had enough for a down payment, they bought a...

The discussion centers on the compelling argument for passive investors to extend their focus beyond the multifamily sector, particularly highlighting the significant opportunities present in retail and suburban office markets. Ash Patel of Invest Beyond Multifamily elucidates the current state of commercial real estate, revealing that retail vacancy rates are at historic lows, thus indicating a r...

The discourse presented by J Scott elucidates a critical examination of the prevailing economic landscape, particularly as it pertains to the intricacies of a "fracturing of our epistemic reality" within the 2026 economy. At the forefront of this analysis is Scott's contentious "Flat Housing" thesis, which posits that single-family home values are likely to experience stagnation rather than a cata...