EPISODE 80

Keith Wasserman started with a single $140,000 fourplex and has since completed billions of dollars in real estate transactions as co-founder of Gelt, all while holding to one rule: protect capital first. In this episode, Kevin and Jason talk with Keith about why today's commercial real estate downturn is in some ways harder than 2009, with apartment values down 25 to 50 percent, and why the best time to deploy capital is when everyone else is scared. Keith explains why 95 percent of his portfolio sits on long-term fixed-rate debt, why the wealthiest real estate owners regret every sale, how illiquidity protects investors from their own emotions, and how real estate really stacks up against the S&P 500. He also shares why he's personally calling all 1,800 of his investors one-on-one, how he built a team around his blind spots (he doesn't even use Excel), and why Gelt is launching its first fund to buy newer apartments below replacement cost in oversupplied markets like Austin.

CHAPTERS

00:00 – Why Fear Is the Best Time to Buy

00:36 – Investing Through Uncertainty

02:39 – Meet Keith Wasserman

03:16 – The $140K Fourplex That Started It All

04:51 – Scaling From Four Units to Hundreds

05:58 – Fixed-Rate Debt and Protecting the Downside

07:15 – Get Rich Slow: Why the Wealthy Never Sell

10:21 – Why This Cycle Is Harder Than 2009

11:50 – What Investors Misunderstand About Today's Market

12:49 – Real Estate vs. the S&P 500

15:52 – Calling 1,800 Investors One-on-One

19:50 – Building a Team Around Your Blind Spots

21:59 – Gelt's First Fund and the Austin Opportunity

24:24 – Founder Mode Top 5 Takeaways

LINKS

Connect with Keith Wasserman

Gelt Venture Partners • LinkedIn • X/Twitter

Stay Connected with Founder Mode

Stay Connected with Founder Mode

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Connect with Kevin

LinkedIn • X/Twitter

Connect with Jason

LinkedIn • X/Twitter