PassivePockets: The Passive Real Estate Investing Show

Episode #300

This Episode

Is the real estate market finally entering a recovery, or is it still too early to jump back in?

In this deal review episode, Chris Lopez sits down with Brian Burke, author of The Hands-Off Investor and founder of Praxis Capital, to examine how today’s interest rate environment is shaping real estate opportunities. Brian explains how he is structuring and underwriting debt for senior housing investments within his healthcare fund, along with the risks LPs should consider. They also discuss where multifamily sits in the current market cycle, whether interest rates are more likely to rise or fall, and what investors should evaluate before committing capital to a sponsor or fund.

Key takeaways:

• How Brian is structuring debt for senior housing investments

• What changing interest rates could mean for real estate investors

• Why debt terms can significantly affect a deal’s risk

• Where multifamily may be in the current market cycle

• Whether current conditions are creating opportunities for LPs

• What passive investors should evaluate before investing with a sponsor

Join a community of passive investors. Start your FREE 7-day trial:

https://passivepockets.com/?utm_source=youtube&utm_medium=description&utm_campaign=none

Listen to the PassivePockets Podcast Anywhere:

https://lnk.to/passivepockets

Subscribe to the Passive Investing Newsletter:

https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none

Join BiggerPockets for free:

https://www.biggerpockets.com/signup?utm_source=owned_media

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

In this episode of our LP Deal Review Series, Matt Johnson of McFarlin Group presents the McFarlin Longevity GP Fund III to our LP panel of Chris Lopez and Pascal Wagner.

Want to discuss the deal with other investors? Start your FREE 7-day trial on PassivePockets:

Discover new sponsors and read real investor ratings & reviews

Find and vet deals quickly and easily

Connect with investors in private, investor-only forums

Improve your due diligence by watching our LP Panel Deal Review series

Access expert insights with on-demand courses, articles, and webinars

Disclaimer:

The comments, views, opinions and any forecasts of future events, returns or results expressed in this episode reflect the opinions of the given host or participants (including the personal opinions of PassivePockets employees or contractors, as applicable), are subject to change without notice, do not reflect the views of PassivePockets or its affiliates, may not reflect actual investment results, are not guarantees of future events, returns or results and are not intended to provide financial planning, investment advice, legal advice or tax advice. The accuracy, completeness or suitability of the information discussed in this podcast, including any comments, views, opinions, forecasts, graphs, charts, ratings, reviews, videos, and other audio and/or visual aids cannot be guaranteed, are not reviewed by PassivePockets, are provided for informational purposes only, and should not be solely relied upon in making an investment decision. PassivePockets receives compensation from sponsors in exchange for profiling sponsors and/or their sponsored deals in this episode; however, such paid advertisements shall not be construed as an endorsement, testimonial, or recommendation by PassivePockets to invest in any sponsor, investment strategy or investment opportunity. Investing in real estate is inherently risky and suitable only for sophisticated and qualified investors. Prospective investors should consult with their own investment advisors, financial advisors, and tax advisors, as applicable, in connection with any decision to invest.

The information on this website, including any graphs, charts, ratings, reviews, videos, and other visual aids, is for informational purposes only, and is not an offering of or solicitation to purchase securities or otherwise make an investment. PassivePockets is not responsible for ensuring or verifying that sponsor and/or deal information and offering materials are compliant with applicable law, including but not limited to securities laws or investment advisory regulations. PassivePockets receives compensation from sponsors in exchange for profiling sponsors and/or their sponsored deals on this website; however, such profiles and the sponsor-provided content therein shall not be construed as, and are not, endorsements, testimonials, or recommendations by PassivePockets. Any comments, views, opinions and any forecasts of future events, returns or results expressed in video content posted to this website, whether by PassivePockets, sponsors, or website users, reflect the opinions of the given author or speaker (including the personal opinions of PassivePockets employees or contractors, as applicable), are subject to change without notice, do not reflect the views of PassivePockets or its affiliates, may not reflect actual investment results, are not guarantees of future events, returns or results and are not intended to provide financial planning, investment advice, legal advice or tax advice. The accuracy, completeness or suitability of the (i) information and offering materials provided by a sponsor and (ii) the information discussed in video content posted to this website, including any comments, views, opinions, forecasts, graphs, charts, ratings, reviews, videos, and other visual aids, cannot be guaranteed, are not reviewed by PassivePockets, are provided for informational purposes only, and should not be solely relied upon in making an investment decision. No responsibility or liability is accepted or assumed by PassivePockets or any of its officers, agents or advisors as to the accuracy, sufficiency or completeness of any such video content. Investing in real estate is inherently risky and suitable only for sophisticated and qualified investors. Prospective investors should consult with their own investment advisors, financial advisors, and tax advisors, as applicable, in connection with any decision to invest.

Sponsors may only offer securities through this website pursuant to Rule 506(c) under Regulation D under the Securities Act of 1933, and the sale of such securities will be strictly limited to those persons who are qualified as “accredited investors” as defined in Rule 501(a) of Regulation D under the Securities Act of 1933. Compliance with these requirements and other applicable securities laws is the sole responsibility of each sponsor, and not PassivePockets.

This Episode

The oldest baby boomers are turning 80 just as senior housing construction reaches its lowest level in more than a decade. Matt Johnson of McFarlin Group joins Chris Lopez to explain why this widening supply and demand gap could create one of the strongest real estate opportunities of the next several years.

Matt shares how he grew from buying a duplex near SMU into developing and acquiring senior living communities with institutional partners. He also discusses HUD financing, fixed-rate debt, fund structures, labor management, and the operating systems required to run properties that combine elements of housing, hospitality, and healthcare.

Key takeaways:

• Why the population of Americans over 80 is expected to grow rapidly

• How limited construction is affecting senior housing occupancy and rents

• What Matt learned launching McFarlin Group during the Great Recession

• Why his team prefers fixed-rate debt and patient capital

• How GP funds give individual investors access to institutional deals

• Why controlling labor costs is essential to senior housing performance

Join a community of passive investors. Start your FREE 7-day trial:

https://passivepockets.com/?utm_source=youtube&utm_medium=description&utm_campaign=none

Listen to the PassivePockets Podcast Anywhere:

https://lnk.to/passivepockets

Subscribe to the Passive Investing Newsletter:

https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none

Join BiggerPockets for free:

https://www.biggerpockets.com/signup?utm_source=owned_media

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

This Episode

For lifelong active investors, the hardest part of going passive may be giving up control. Jonathan Greene grew up evaluating properties alongside his father and spent decades investing, managing rentals, and flipping houses before making his first syndication investment.

Jonathan joins Chris Lopez to explain how he evaluates sponsors, assets, and debt without relying on projected IRRs. He also shares why passive investments have helped him diversify into new markets, preserve capital for his children, and become more selective about the active real estate projects he still wants to pursue.

Key takeaways:

• How Jonathan made the transition from active investor to LP

• Why trust, the underlying asset, and debt matter more than projected returns

• How monthly reports can reveal problems before a deal goes sideways

• Why he invested repeatedly with one proven sponsor

• What attracted him to a wellness resort development in Palm Springs

• How active and passive investments can strengthen the same portfolio

Join a community of passive investors. Start your FREE 7-day trial:

https://passivepockets.com/?utm_source=youtube&utm_medium=description&utm_campaign=none

Listen to the PassivePockets Podcast Anywhere:

https://lnk.to/passivepockets

Subscribe to the Passive Investing Newsletter:

https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none

Join BiggerPockets for free:

https://www.biggerpockets.com/signup?utm_source=owned_media

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

This Episode

Can an evergreen fund deliver the benefits of long-term real estate ownership without forcing investors to start over with every new deal? Ellis Hammond of Aspen Funds presents the Aspen Legacy Fund, a multifamily fund designed to compound capital, limit tax drag, and provide exposure to multiple properties through a single K-1.

Chris Lopez, Pascal Wagner, and Christine Kwasny examine the fund’s assets, debt, valuation process, liquidity provisions, and investment strategy. They also press Ellis on refinancing risk, related-party investments, NAV calculations, redemption limits, and what investors should understand before treating a two-year lockup as true liquidity.

Key takeaways:

• How the evergreen structure is designed to reduce taxes and deployment lag

• Why the fund reinvests income instead of paying regular distributions

• How direct ownership, JV investments, and private credit fit into the portfolio

• How Aspen calculates NAV and values the underlying properties

• The refinancing risks tied to the fund’s multifamily debt

• Why redemption requests remain subject to liquidity and best efforts

Join a community of passive investors. Start your FREE 7-day trial:

https://passivepockets.com/?utm_source=youtube&utm_medium=description&utm_campaign=none

Listen to the PassivePockets Podcast Anywhere:

https://lnk.to/passivepockets

Subscribe to the Passive Investing Newsletter:

https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none

Join BiggerPockets for free:

https://www.biggerpockets.com/signup?utm_source=owned_media

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.