Full DIG Philly Commercial Investment Subgroup Meeting | December 2025

In this special episode recorded live at the DIG Philly Commercial Investment Subgroup meeting, host Rob Coldwell sits down with financial advisor and Forbes contributor Fred Hubler to unpack one of real estate's best-kept secrets: Delaware Statutory Trusts (DSTs).

What You'll Learn:

Fred opens with a story that will make any landlord pay attention: a family with a $14 million mobile home park, fully depreciated with no debt, facing a massive tax bill. Through strategic DST planning, Fred's team saved them $9 million in taxes while generating MORE passive income than they were making as active operators. The real estate agent on the deal? Bought two Bentlies with his commission. Fred? Got a box of cigars.

But this episode goes far deeper than one success story.

The Conversation Covers:

• What DSTs Actually Are

• The Emotional Side of Selling

• Real Numbers, Real Portfolio

• The Three Doors Strategy

• Advanced Strategies Revealed

• Institutional Advantages

• Real Risk Discussion

• Who This Is (and Isn't) For

Key Insights:

"When they buy, they will cut expenses by 25%" — Fred explains how institutional operators immediately add value through scale

"All 18 families said a derivative of that: 'We don't think anything's going to get any better and we just want income we can trust'" — The surprising common thread among sellers

"The first question you should be asking me is how are you protecting me against additional risk" — Fred's three-layer protection strategy for investors

"I have 1,800 failure points" — How one owner with 1,800 doors described his portfolio before converting to DSTs

Practical Takeaways:

• How to identify if you or a seller is a good DST candidate (minimum $100K equity, must be accredited)
• The critical 45-day identification rule and why the best DSTs sell out in days, not weeks
• Fee structures: 5-7% of equity invested, paid once (about 93 cents of every dollar actually goes into the property)
• Why Fred uses interest rate hedges, construction contingencies, and rental model validation to protect investor capital
• The accreditation requirements: $1M net worth (excluding primary residence) OR $300K joint income for individuals; $5M for trusts

Who Should Listen:

• Active landlords considering an exit strategy or transition to passive investing
• Real estate agents working with older clients who own appreciated property
• Syndicators and developers who want to offer sellers a tax-advantaged exit
• Anyone managing 10+ doors who's tired of the operational burden
• Financial advisors working with real estate investors
• Investors approaching retirement who want to de-risk their portfolio

Resources Mentioned:

• DST-Exchange.com (Fred's 1031 calculator tool)
• Forbes.com (search "Hubler" for Fred's educational articles on DSTs and alternative investments
• The "worst case scenario" example: Kansas Gander Mountain property (2007-2016)

Whether you're sitting on appreciated real estate wondering about your next move, working with clients who need exit strategies, or simply curious about institutional-quality passive real estate investing, this episode delivers actionable intelligence you won't find anywhere else.

Host: Rob Coldwell, Principal at Rentwell Property ManagementGuest: Fred Hubler, Financial Advisor & Forbes ContributorRecorded: DIG Philly Commercial Investment Subgroup Meeting, December 2025

Note: This episode is educational in nature. DSTs are securities available only to accredited investors. Consult with qualified financial and tax advisors before making investment decisions.

Subscribe to Living Well with Rentwell for more real estate investing insights, property management strategies, and interviews with industry leaders who are actually doing the work.

What happens when you achieve your real estate goals... and realize you built the wrong thing?

In this episode of Living Well with Rentwell, host Rob Coldwell sits down with Gary Jonas, founder of The How Group, at the DIG Philly subchapter meeting for one of the most honest conversations about real estate investing you'll ever hear.

Gary's journey started like many of ours: reading Rich Dad Poor Dad, buying properties one at a time while working full-time, dreaming of passive income. Seven years and 10 properties later, he'd built a million dollars in equity—but zero cash flow.What happened next changed everything.

And it wasn't a smooth ride to the top.

In this raw, practical conversation, Gary reveals:

• The real timeline it takes to build wealth (spoiler: it's longer than you think, but more achievable than you fear)

• Why his operating companies made $0 profit for 3 straight years—and how reserves saved everything

• The return on equity calculation that determines when to sell your best properties

• How to actually protect investors against interest rate, construction, and rental risks (including the derivative strategy most investors don't know about)

• Why caring about effort over results has kept his partnership strong for 28 years

• The specific market opportunity Gary sees in 2026 (and why it reminds him of 2008)

• The brutal truth about partnership scorekeeping and why it destroys businesses

• How to structure deals that attract investors in a market where nobody wants to deploy capital

Gary talks openly about projects that went over budget, deals that didn't work, and the cycles that nearly broke him. But he also shares the exact strategies, calculations, and mindsets that took him from 10 single-family homes in Manayunk to a $350 million portfolio.

Whether you're buying your first rental property or managing a portfolio, this episode will change how you think about real estate investing.

GUEST BIO:Gary Jonas is the founder of The How Group, a real estate development and investment firm with a portfolio valued at over $350 million in the greater Philadelphia area. With 30+ years of experience across multiple real estate cycles, Gary has completed projects ranging from small multifamily buildings to large-scale developments. He's known for his investor-first approach and transparent communication about both successes and challenges in the real estate business.

RECORDED:DIG Philly Subchapter Meeting, November 2025

TOPICS COVERED:Real estate investing, multifamily development, partnership structures, risk management, market cycles, Philadelphia real estate, investor relations, return on equity, capital deployment, construction management, property management

Rob Coldwell and TJ Hock join us once again to have a more intimate chat about our next big project, and more or less show our viewers a peek at what goes on behind the scenes of RentWell and our Businesses. We have an announcement regarding small multi-family properties, as well as a recap of all of the different things we do. This is the podcast for you if you’re interested in learning what all goes on with the Rentwell Team Rentwell is a professional property management company that cares about what we do and the people we serve. We strive to set the highest standards in our industry. Our mission is to seamlessly manage properties by executing innovative services that provide peace of mind for both owners and residents. Our owners and residents are our top priority! We focus on building success by providing excellent customer service, efficient systems, and responsible growth processes. As a premier professional property management company, everything we do is rooted in innovation. Our highly motivated, energetic team works diligently to improve the systems and tools we utilize every day! Timestamps: 0:00 - Introduction 3:15 - Our next project 8:34 - About our infrastructure 10:45 - The HUB

Joey Coleman, Author of “Never Lose a Customer Again,” is here to talk with Co-Host TJ Hock about his new book “Never Lose an Employee Again.” Join us for a great chat about how much the employee experience has changed in just the last 4 years, and how employers can use this opportunity to reengage with their employees. Did you know that over 70% of employees, in ALL industries, are disengaged with their job? Part of it was what they experienced during their experience, and another part is the sudden emergence of widespread AI utilization. What can we do to make sure our employees feel important to the team? Never Lose a Customer Again: With the most recent research showing that 77 percent of employees are "disengaged" at work, it's clear that the current model for workplace experience isn't working. I want to help you fix that. Filled with over fifty case studies from all seven continents (ranging from mainstreet mom-and-pop shops to global juggernauts), I’ll show you specific tools and strategies you can apply to your organization to create remarkable employee experiences that keep your people engaged and retained. About Joey: For almost twenty years, Joey has helped organizations retain their best customers and employees - turning them into raving fans via his entertaining and actionable keynotes, workshops, and consulting projects. He has a long history of energizing and motivating audiences to enhance their customers’ experiences and employees' experiences. He is an award-winning speaker (yes – they do have speaking contests) at both national and international conferences – competing against New York Times bestselling authors, business leaders, and internet sensations/celebrities. He is the author of the #2 Wall Street Journal bestseller, Never Lose a Customer Again and the recently released Never Lose an Employee Again. Timestamps: 0:00 - Start 2:30 - The current state of employees 5:18 - What are the 8 phases of the employee journey 10:20 - Where do you start? 11:50 - Elaborate on new employee remorse 14:20 - Disengaged Employees 17:24 - Why are disengagement number so high today? 26:40 - Is AI affecting the modern workplace? 32:14 - About Never Lose an Employee Again

Joining Rob Coldwell today is Sergio Altomare, co-founder and CEO of Hearthfire Holdings. Like most successful investors in real estate, Sergio began his journey with a single purchase. From there, he found the niche of investing in Self-Storage facilities, which ultimately evolved into his current company, Hearthfire Holdings. Today we’ll talk about the journey to where he is today, spirituality, and what we can do as people to be constantly improving. 

About Sergio: Sergio is Co-Founder and CEO of Hearthfire Holdings, a Real Estate Private Equity and Development firm with over $50MM in self storage assets under management. His personal and company track record includes 9 successful property exits with an average return of over 25% IRR. His storied career in central banking enables superior financial and investment competency to identify and profitably enter and exit real estate, equity, business positions, and ventures.

Sergio is a highly accomplished Technology Executive, Strategist, and Data Architect with an accredited track record of managing IT projects for the Federal Reserve System. He is an expert in analyzing business needs, performing gap analysis between goals and existing technology, and researching and recommending technological improvements. He has extensive experience in systems architecture, security, mobile computing and service management, and is an expert in security assessment, architecture, design, and compliance.

Through this experience, Sergio has developed strong leadership and interpersonal skills, financial and cash flow analysis, real estate underwriting, and investment crowdfunding. He is highly adept at diplomatically facilitating technical and business problem solving, public speaking, and negotiations with stakeholders. He has recognized project management skills, consistently delivering complex, high-visibility projects on time and within budget.

Sergio received his Bachelor of Science degree in Computing and Security Technology from Drexel University (Summa Cum Laude). He is a Certified Information Systems Security Professional (CISSP) and holds many other IT certifications. Sergio is a licensed realtor in the state of Pennsylvania.

Sergio and Corinn have been married since 2014 and live in Downingtown, PA. In his not-so-free time, Sergio enjoys hiking, skiing, cooking, BBQ, gardening, technology and tinkering, traveling, and self-improvement.

Timestamps:

0:00 - Start

1:25 - What was your first real estate deal like?

11:45 - Managing buildings as a full time job

16:35 - How have you evolved since 2019?

22:25 - What do your deals look like?

27:55 - Not getting attached to properties

32:35 - How do you take care of you?

45:28 - Any book recommendations?

Tim Davis, is a Spiritual Transformational Coach and 30 year resident at the Temple of the Universe, joins Co-Host Rob Coldwell for his second visit to our podcast! Tim is here today to talk about the powerful benefits of visiting the temple as well as joining the online courses. We go in depth talking about the reasons to attend the upcoming course and what exactly the itinerary is. Join us for a powerful talk about working on your spiritual self and why it’s so important. Listen as Tim shares his journey as a successful professional in media, management and production all while studying and practicing spiritually under Michael A. Singer, Temple of the Universe founder and New York Times best-selling author of “The Untethered Soul”. Tim’s mission is to share everything that he has learned under Michael to help people around the world incorporate spiritual practices into their everyday life. Tou.org Timodavis.com tim@timodavis.com

Bryan Driscoll of Motivated Leads joins Co-Host Rob Coldwell in the studio today for a chat about real estate investing and his lead capturing platform. Bryan has been in the real estate game his entire adult life and knows his way around the field, and now offers his expertise to other investors looking to grow their portfolio. His platform, Motivated Leads, operates differently from other lead-capture programs where one of the biggest differences is that it’s on a pay-per-lead basis as opposed to a monthly subscription. He’s helping people find their dream and we get to the bottom of how it all works in today’s episode! motivatedleads.com In his own words: Bryan Driscoll is the Co-Founder of Motivated Leads, a digital marketing agency that helps real estate investors expand their portfolios quickly by generating quality motivated seller leads. Bryan handles the online marketing so investors can focus on what they know! Bryan has been a digital marketer for over 15 years and has managed SEO and Facebook campaigns for local businesses, startups, and fortune 500 companies. Digital marketing is his craft, but real estate is his passion. He has been recognized by Forbes and other major publications for his work perfecting it over the past 15+ years. However, seven years ago, after buying some rental properties from his agency profits, Bryan realized that true wealth comes from real estate investing. That was the start of their real estate investing journey, and Bryan now owns 21 properties. He does joint ventures with other investors for leads that he gets outside of his area. After being bombarded with leads for years and even having to give away their extra leads to other investors, he realized he had the upper hand in generating leads for motivated sellers. This is what inspired Bryan and his partner Chad to create Motivated-Leads.com to help investors all over the country have the same lead generation success as him. Timestamps: 0:00 - Start 0:44 - How did you get into Real Estate? 3:51 - What does your portfolio look like 8:07 - What is your strategic plan for the future? 11:14 - How do you help investors buy properties? 17:55 - What does ‘best in class’ look like for capturing leads? 21:50 - Are your campaigns all set up on a county level? 28:00 - How do you stay healthy?

Tim Lyons of Cityside Capital joins Co-Host Rob Coldwell to tell his fascinating story of passive income. Tim is a New York City Firefighter who decided to start investing in property in just 2019. With a duplex bought and sold under his belt Tim went on to start a Private Equity Firm with over 5,000 units called Cityside Capital. His story hits home because it’s further proof that if you put your mind to building something, you can make it happen. Join us for this amazing and inspiring story! https://citysidecap.com/ More about Tim: Tim Lyons is the co-founder and Managing Partner of Cityside Capital along with his brother Greg. He is a Registered Representative of Phase One Financial Services, LLC, a broker-dealer based in New York City (member FINRA/SIPC). Tim holds the Series 82 and 63 licenses and is focused on raising capital for multifamily, self-storage and industrial assets that provide great risk-adjusted returns, tax advantages, passive income, and equity upside. Tim is also an 18 year veteran of the New York City Fire Department (FDNY) and currently serves as a lieutenant in the borough of Queens. He also worked part-time as an emergency room RN at a level 1 trauma center before starting his real estate investing journey. He brings years of real world management and leadership experience to his real estate investment career. Tim’s initial goal with real estate was to create passive income and in turn, be able to spend more time with his wife and three little girls. After partnering on a multifamily property he saw first-hand the power of real estate investing as an opportunity to create passive income and build wealth for his family. He started Cityside Capital with the goal of not only growing his own portfolio but also to help others realize the power that real estate investing can have on creating passive income and building wealth. Cityside Capital has partnered in over $1.4 billion of commercial real estate assets including more than 6,000 multifamily units. Tim has also invested as a limited partner in several multifamily, self storage, industrial and land opportunities across the United States. Tim attributes his early success in real estate investing to education, investing in coaches and mentors, and surrounding himself with other like minded people. In April 2021, Tim became an Amazon #1 bestselling author in a book he co-authored with other authorities such as The Real Estate Radio Guys’ Robert Helms, Jim Rohn’s 18 year business partner and master marketer, Kyle Wilson and many more, called “Bringing Value, Solving Problems and Leaving a Legacy”. Tim is co-host of The Passive Income Brothers Podcast alongside his brother, and business partner, Greg Lyons. The Passive Income Brothers Podcast highlights the investor journey in creating multiple streams of passive income. Since launching the podcast in December of 2022, The Passive Income Brothers podcast has become a top rated show that has garnered over 130+ 5-star ratings and nearly 40,000 downloads in the first year. Tim lives with his lovely wife, Kristina, and their 3 amazing little girls. When he is not coaching their sports teams, watching dance recitals or horseback riding competitions, Tim and his girls can be found rooting on the Providence College Friars basketball team. Timestamps: 0:00 - Start 1:00 - Your first real estate deal 6:46 - Going from a triplex to 5,000 units in 3 years 14:45 - How did your reputation as a Fire Captain help you raise capital? 21:03 - What percent of the capital does cityside end up with? 28:30 - Why are you called a Private Equity firm? * 33:22 - Are the companies deals yours or other peoples? 38:52 - What do your capital stacks typically look like? 41:46 - How do you give back to the community?