JF 3941: Raising Capital, Avoiding Bad Underwriting, and Building Ethical Real Estate Wealth ft. Matt Picheny

The Best Ever CRE Show

Best Ever CRE

Realestatepodcast, Entrepreneurship, Business, Realestate, Investing, Realestateinvesting, Realestateinvestingpodcast

4.8 • 983 Ratings

🗓️ 19 June 2025

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this episode of the Passive Income Playbook, Pascal Wagner interviews Matt Picheny, a Tony award-winning Broadway producer turned seasoned multifamily GP with over 16 GP deals and 28 as an LP. Matt shares how his path from acting and digital marketing led to real estate success, including a pivotal first deal where he quadrupled his investment. They dive deep into lessons learned from early LP mistakes, why conservative underwriting (especially around cap rates) is critical, and how today’s market might be ideal for investing if you have the stomach for it. Matt also discusses the values behind his coaching program, his value-add investment philosophy, and how LPs can vet operators more effectively. Matt Picheny Current role: Multifamily GP, LP, Coach, and Author of Backstage Guide to Real Estate Based in: New York City Say hi to them at: picheny.com – includes newsletter, free resources, coaching info, and social links Go to https://zbiotics.com/BESTEVER and use BESTEVER at checkout for 15% off any first time orders of ZBiotics probiotics. Get a 4-week trial, free postage, and a digital scale at ⁠https://www.stamps.com/cre⁠. Thanks to Stamps.com for sponsoring the show! Post your job for free at https://www.linkedin.com/BRE. Terms and conditions apply. Join the Best Ever Community The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It’s free to join, but you must apply and meet the criteria. Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at ⁠www.bestevercommunity.com⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	As a CRE investor, flexibility in when and how I get tasks done is essential.
0:05.7	Flexibility in your workday means you can decide when and where to invest your time.
0:10.2	With Stamps.com, tedious tasks like sending certified mail, invoices, and packages can be done on your time.
0:17.3	Not someone else's.
0:19.0	Stamps.com simplifies your postage needs and adds valuable flexibility back into your workday.
0:26.0	Stamps.com handles all your mailing and shipping needs wherever, whenever.
0:31.0	Access all USPS and UPS services right from your computer or phone.
0:36.5	No lines, no waiting. Their rate advisor helps you get
0:40.1	rates you won't see anywhere else. Up to 88% off USPS and UPS. Have more flexibility in your life
0:47.0	with stamps.com. Sign up at stamps.com slash CRE for a special offer that includes a four-week trial plus free postage and a free
0:57.8	digital scale. No long-term commitments or contracts. Just go to stamps.com slash CRE. You know,
1:05.6	flexibility is something I value a lot as an entrepreneur. Whether it's structuring a deal,
1:10.5	reviewing underwriting, or scheduling podcast. Whether it's structuring a deal, reviewing underwriting,
1:11.7	or scheduling podcast interviews, it's all about using my time where it matters most. That's why I've
1:17.3	added stamps.com into my workflow. For certified mail, invoices, checks, we can handle all of that
1:24.5	without leaving the office or breaking focus.
1:33.2	It's an all-in-one mailing and shipping solution that gives you back control over when and how you get it done.
1:43.0	We've got investors and partners across the country, and Stamps.com makes it easy to ship documents or packages right from my computer, or even on the go with their mobile app.
1:45.3	It connects with marketplaces, compares rates automatically, and lets us schedule pickups from our dashboard. And their rate advisor,
1:50.1	it's a game changer. You can get up to 88% off USPS and UPS, no guesswork, no overpaying. Have more
1:57.6	flexibility in your life with stamps.com. Sign up at stamps.com slash CRE for a special offer,
2:06.5	a four-week trial, free postage, and a free digital scale. No long-term commitments. Again, that's
	...

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