Advertise on podcast: The LSCRE Podcast

Houston’s story is closely tied to oil and gas, but its economy today is much more diversified than it once was. In this episode of the LSCRE Podcast, Rob Beardsley, Craig McGrouther, and Sam Morris revisit the 1980s, when oil went from about $30 a barrel to about $8 a barrel. When that happened, it dragged down everything with it, with real estate on fire sale, widespread job losses, and banks failing, creating a long period of economic distress. Since then, Houston has become substantially more downside protected. Oil and gas is still a major part of the economy, but it is no longer as predominant as many people think, dropping to a much smaller share over time as other industries expanded. Today, when oil goes up, it boosts profits and activity in Houston, but the city is far more resilient than it was in the past due to its diversified economic base. Learn more about LSCRE at www.lscre.com

In this episode of the LSCRE Podcast, Craig McGrouther sits down with Patrick Grimes to unpack why he moved away from speculative investing after losing everything in 2009 and how that experience reshaped his entire approach to risk. Instead of “big flips and big gambles,” his focus is on being hyper-diversified and cross-collateralized, investing at just 10–30% of collateral value rather than the 60–80% commonly seen in real estate. The goal is simple: underwrite with a high degree of confidence and build downside protection into every deal. Learn more about LSCRE at www.lscre.com

We have successfully closed on Preserve at Copper Springs, a 376-unit apartment community in Houston, TX! If you’re a passive investor looking for stable, tax-efficient, cash-flowing opportunities: Reach out directly to Craig: [email protected] Learn more: www.lscre.com In this episode of the LSCRE Podcast, Rob Beardsley and Craig McGrouther break down a counterintuitive truth most investors ignore. The deals with the highest projected returns are often the ones most likely to destroy capital. Using real data and insights from seasoned alternative investors, they explain why avoiding large losses -not chasing upside is what actually builds long-term wealth. Topics covered: • Why “high IRR” deals often carry hidden downside risk • The real reason conservative deals outperform over time • How one bad year can destroy your entire portfolio • Why disciplined capital deployment beats timing the market • The case for longer hold periods (5–10+ years) • Why avoiding losses matters more than maximizing gains • How yield + tax efficiency make real estate fundamentally different from stocks • The truth about S&P 500 vs multifamily returns Learn more about LSCRE at www.lscre.com 

In this Q&A session, Rob Beardsley (Founder & CEO of LSCRE) answers some of the toughest questions investors are asking about the multifamily market right now. Topics include whether the U.S. economy is actually in a recession, where we are in the real estate cycle, the biggest risks facing multifamily today, and how sponsors protect investor capital in volatile interest-rate environments. Rob also shares lessons from a deal that was terminated due to rising rates, explains the underwriting assumptions that matter most in multifamily investing, and discusses why relationships and trust are the most valuable assets in commercial real estate. If you're an investor trying to understand the current market cycle, risk management, and how professional sponsors approach deals, this video provides valuable insight. Topics covered: Are we actually in a recession?Where we are in the real estate and interest rate cyclesThe biggest risk in today’s multifamily marketHow sponsors protect investor capitalRed flags that disqualify a dealThe most important numbers in underwritingWhy relationships compound the fastest in real estateHow new sponsors raise capital without a track record If you'd like to learn more about investing alongside LSCRE, connect with our team and join our investor community.

In this episode of the LSCRE Podcast, Craig McGrouther sit down with Paul Moore to unpack one of the most misunderstood ideas in investing: the difference between investing and speculating. After selling his company in his early 30s, Paul believed he had become a full-time investor.  Instead, he learned the hard way that he had become a full-time speculator—a realization that eventually cost him millions during the lead-up to the financial crisis. In this conversation, Paul shares the painful lessons that followed, and how that experience reshaped his philosophy around risk, discipline, and capital preservation. The discussion explores why the most successful investors—from figures like Warren Buffett and Charlie Munger to seasoned real estate operators—often succeed not by chasing exciting opportunities, but by staying focused on one strategy for decades. Topics covered: • The critical difference between investing and speculating • Why confusing the two can destroy capital • The lessons Paul learned losing millions before the 2008 crisis • Why the best investors embrace “boring” strategies • The danger of shiny object syndrome in real estate investing • How disciplined operators evaluate deals and risk • Why long-term focus often beats chasing the next opportunity • How fund structures and preferred equity fit into today’s market • Why today’s real estate cycle may present a unique opportunity Chapters 00:00 Introduction to Paul Moore and His Journey 05:50 The Birth of Wellings Capital 11:49 Investment Philosophy: Avoiding Rescue Capital 22:31 Navigating Unique Investment Opportunities 27:41 Understanding Market Cycles and Investment Timing 36:56 Embracing Technological Changes in Real Estate In a market filled with noise, projections, and constant deal flow, the investors who consistently win are often the ones doing something surprisingly simple: protecting principal, staying disciplined, and resisting the urge to chase the next big thing. If you’re a passive investor, capital allocator, or real estate operator looking to sharpen your investment philosophy, this episode offers a candid look at the lessons that only experience and sometimes painful mistakes - can teach.

In this episode of the LSCRE Podcast, Rob Beardsley and Craig McGrouther unpack what’s really happening in today’s multifamily market - and why chasing “home run” deals may be the fastest way to lose investor trust. After meeting with dozens of investors at the Best Ever Conference, a clear theme emerged: value-add fatigue, rising skepticism around aggressive projections, and a growing demand for certainty over hype.                                                                                                                                                                                                                      Chapters:  00:00 Intro 02:25 Why Value-Add Isn’t Working Like It Used To 09:08 LSCRE’s 2025–2026 Acquisition Strategy 12:07 What Makes LSCRE Different 15:19 Long-Term Strategy & 1031 Compounding 19:33 Why Fund Managers Should Avoid Big Swings 23:28 The Case for Longer Hold Periods 25:37 Preserve at Copper Springs Update Topics covered: • Why high IRR multifamily deals come with hidden downside • The real risk behind “2X projections” • Is the value-add strategy breaking down? • How new supply and concessions are changing apartment investing • The return of cap rate spreads between Class A, B, and C assets • Why investing in A locations beats upgrading C properties • The filtering-up effect happening across multifamily • Why fund managers must prioritize capital preservation • Certainty of execution vs swinging for outsized returns In a market where rent growth has cooled and supply has surged, the operators who survive aren’t the ones chasing upside — they’re the ones protecting investor capital and positioning for long-term durability. If you’re a passive investor, capital raiser, or multifamily operator navigating the 2026 cycle, this conversation will reshape how you think about risk, projections, and strategy.

👉 Watch the full Preserve at Copper Springs webinar here: www.lscre.com/pcswebinarreplay  (This is a 506(c) offering open to accredited investors only.)  In this episode of the LSCRE Podcast, Rob Beardsley and Craig McGrothor walk through the acquisition of Preserve at Copper Springs, a 376-unit Class A multifamily property located in Houston’s highest-absorbing submarket. This walkthrough breaks down how LSCRE evaluates risk, cash flow, and long-term durability when acquiring large multifamily assets – without relying on aggressive assumptions or hype. Topics covered include: Why Houston’s Copperfield submarket is seeing strong absorption with no new supply How owning sister properties on the same street reduces operational risk The benefits of 7-year fixed-rate, full-term interest-only debt Why LSCRE prioritizes cash-flow coverage over maximum leverage Organic rent growth vs forced value-add strategies Expense reduction through in-house management and economies of scale Why this deal prioritizes monthly cash flow, safety, and predictability Cost segregation, bonus depreciation, and tax efficiency How this investment is eligible for 1031 exchanges This is a behind-the-scenes look at how experienced multifamily operators structure deals to protect capital while delivering consistent returns. Learn more about LSCRE: www.lscre.com

In this episode of the LSCRE Podcast, Craig McGrouther sits down with Director of Acquisitions Brad Oliver to break down what really happened at NMHC, how 2025 unfolded, and where multifamily opportunities are forming in 2026. They discuss: Why Houston is leading the recovery Why Dallas remains selective Why markets like Austin, San Antonio, and Phoenix are still working through oversupply Why foreclosure and distress don’t automatically equal opportunity How risk-adjusted returns matter more than deal volume Why LSCRE only closed two deals in 2025 What types of deals lenders are finally forcing to market And why Preserve at Copper Springs stands out as a rare, high-conviction acquisition This conversation pulls back the curtain on how institutional operators think about: ✔ Market cycles ✔ Supply & demand ✔ Deal liquidity ✔ Underwriting discipline ✔ Downside protection If you’re a passive investor, 1031 exchanger, or multifamily operator, this episode explains why patience, discipline, and location selection matter more than ever heading into 2026. Learn more about LSCRE: www.lscre.com

In this episode of the LSCRE Podcast, Rob Beardsley and Craig McGrouther sit down with 1031 exchange expert and author Dasha Beardsley to break down how investors can properly use 1031 exchanges to defer capital gains taxes, preserve equity, and compound wealth through multifamily real estate. The team dives deep into: How 1031 exchanges actually work (and common misconceptions) Using 1031s to invest in multifamily syndications Tenant-in-Common (TIC) structures vs traditional LP investments Bundling multiple properties into a single 1031 exchange Reverse 1031 exchanges and rare 1033 exchanges How LSCRE has successfully completed $150M+ in 1031 exchanges with a 100% success rate Why long-term sponsors matter when compounding wealth through multiple cycles This episode is packed with real-world examples from recent LSCRE acquisitions, including Preserve at Copper Springs, and offers a clear roadmap for investors looking to transition from active ownership to passive multifamily investing. Learn more about LSCRE: www.lscre.com

In this episode of the LSCRE Podcast, Craig McGrouther sits down with Sam Morris to answer one simple but critical question: What’s in it for you as an investor? Whether you’re new to passive multifamily investing or have invested across multiple sponsors, this episode breaks down exactly how LSCRE operates, why capital preservation comes first, and what separates disciplined operators from the rest of the market. We cover: Why zero losses and zero capital calls matter How monthly distributions are paid from true free cash flow What “vertically integrated” actually means (and why it protects investors) How LSCRE underwrites deals using loaded ICR, not pro forma hype Why Texas (Houston, Dallas, San Antonio, Phoenix) remains a top market How appreciation, depreciation, and cash flow work together 1031 exchange options and long-term investor strategies Why repeat investors are the ultimate performance metric With over $800M under management, 5,600+ units, 200+ employees, and 400+ repeat investors, LSCRE focuses on one thing only: delivering strong risk-adjusted returns while protecting investor capital through every cycle. Learn more about LSCRE: www.lscre.com

In this episode of the LSCRE Podcast, Craig McGrouther and Rob Beardsley break down the real takeaways from NMHC and explain why many so-called “distressed multifamily deals” are actually uninvestable. With record supply in markets like Dallas, Austin, Phoenix, and San Antonio, realism is finally hitting the multifamily market. Lenders are taking back properties — but that doesn’t mean they’re good buys. We cover: Why lender-owned ≠ good deal How “value-add” is often just disguised risk Why AI underwriting misses the nuance that matters The 4 pillars of every multifamily deal: location, price, debt, management Why cash flow coverage matters more than leverage How disciplined operators win cycles — and survive downturns If you’re a passive investor, fund manager, or multifamily operator, this episode cuts through the noise and explains what actually matters in today’s market. Smart capital isn’t chasing hype — it’s buying stability. Learn more about LSCRE: www.lscre.com

In this episode of the LSCRE Podcast, Craig McGrouther sits down with Joe Pistorius, Asset Manager at LSCRE, to break down how strong asset management and execution drive consistent returns in multifamily real estate. This conversation offers a behind-the-scenes look at Preserve at Copper Springs, a new Houston acquisition located between two of LSCRE’s best-performing assets. Joe explains how experienced onsite teams, operational synergies, retention strategies, and disciplined expense control create a clear path to execution. 🎙️ Topics Covered in This Episode: Joe Pistorius’ role as an LSCRE asset manager Managing high-performing Houston multifamily assets Why clustering properties improves operational efficiency Lessons learned from Preserve at Copperleaf & Discovery at West Road How LSCRE achieves 95–97% occupancy Why retention is more valuable than unit turn strategy today Renewal rent increases of 5–6% in a flat rent environment Early-bird renewal incentives and tenant retention strategy Amenity fee rollout: bulk Wi-Fi, valet trash, gym & pool access How amenity fees increase NOI without harming occupancy What a smooth multifamily takeover actually looks like Knocking on every door: resident-first transition strategy Expense reduction through in-house teams and scale Why this Houston submarket leads the city in absorption Limited new supply and strong demographic fundamentals Why execution matters more than aggressive projections Risk mitigation through purchase price, location, and management What makes a “safe” multifamily deal in today’s market 🏢 Key Takeaway: Great multifamily deals aren’t made in spreadsheets — they’re won through execution, people, and operational discipline. Learn more about LSCRE: www.lscre.com

Why is the seller selling — and how do you actually make a multifamily deal work in today’s market? In this episode of the LSCRE Podcast, Craig McGrouther and Rob Beardsley answer real investor FAQs around LSCRE’s newest Houston acquisition, Preserve at Copper Springs, and break down the real mechanics behind underwriting, expenses, insurance, and exits. This is not theory — it’s how institutional multifamily deals actually get done. 🎙️ Topics covered in this episode: Why Preserve at Copper Springs’ seller is selling (loan maturity explained) How to evaluate seller motivation without falling for “distress” hype Loan assumptions vs refinancing (when they work — and when they don’t) Why remaining loan term, amortization, and leverage matter How expense reductions actually happen (and when they don’t) Why LSCRE isn’t “cutting costs” — but realigning operations Portfolio synergies from owning multiple assets on the same street Ancillary income opportunities for future buyers Stabilized exits vs value-add “hot potato” deals Why newer, high-quality assets have more exit liquidity Houston rent growth drivers in the Copperfield submarket How insurance markets are finally improving Why insurance savings don’t always hit cash flow immediately Escrow mechanics, lender friction, and “Kafkaesque” processes explained Why operational execution matters more than projections 🏙️ Why Houston & Copperfield #1 Houston submarket for absorption Zero new supply Strong employment drivers Proven performance from sister assets Learn more about LSCRE: www.lscre.com

How do 1031 exchanges actually work — and how does LSCRE support investors and fund managers through the process? In this episode of the LSCRE Podcast, Craig McGrouther sits down with Dasha Beardsley, Director of Investor Relations at LSCRE, to break down 1031 exchanges, investor experience, capital partners, and how LSCRE has facilitated over $150M in 1031 value. This episode is a deep dive into how institutional-grade investor relations actually function behind the scenes. Topics covered: Dasha’s 4+ year evolution at LSCRE (from college to Director of IR) How LSCRE delivers white-glove investor experience Monthly reporting, transparency, and communication standards Why response time and accessibility matter for investors How LSCRE works with fund managers and capital allocators The onboarding process for capital partners Marketing, compliance, and brand alignment Overview of LSCRE’s investor events and summits 💼 1031 EXCHANGES — IN DEPTH What a 1031 exchange is (and what it’s not) Why a Qualified Intermediary (QI) is critical Common mistakes that disqualify exchanges How much time investors really need to plan TIC vs DST structures (and why LSCRE uses TICs) Reverse 1031 exchanges explained 1033 exchanges (eminent domain scenarios) How LSCRE structured four simultaneous 1031-related exchanges on one deal Why Preserve at Copper Springs is 1031-eligible When a 1031 makes sense — and when it doesn’t LSCRE 1031 TRACK RECORD ~$150M total 1031 exchange value ~$70–80M in 1031 equity placed Multiple repeat 1031 investors Institutional lender coordination Learn more about LSCRE: www.lscre.com

What does smart multifamily investing actually look like in 2026? In this episode of the LSCRE Podcast, Craig McGrouther and Rob Beardsley break down their 2026 multifamily outlook, including acquisitions, operations, capital strategy, and why walking away from bad deals is often the best deal you can do. This episode covers how LSCRE is approaching growth after one of the most volatile real estate cycles in recent history. Topics discussed: LSCRE’s 2026 acquisition goals (~$200M, one deal per quarter) Why doing a bad deal is extremely expensive for sponsors Deal discipline vs “doing deals to do deals” Texas market focus: Houston, Dallas, San Antonio Why some markets (like Phoenix) are still early — and risky Optimal debt & equity structures for the next cycle Why LSCRE targets lower leverage (~65%) Mid-teens IRR expectations and 5–8% cash flow targets Workforce housing vs Class C risk Operational priorities: occupancy, renewals, staffing Why renewal rates matter more than new leases Employee turnover targets and portfolio health Bringing RUBS billing in-house to save ~$300K annually K-1 delivery timelines and internal tax infrastructure Capital markets commentary: private credit vs common equity Why 2026 may reward offensive positioning, not defensive We also discuss: Why Houston may outperform other Sunbelt markets Where forced sellers may emerge Why stability matters more than forecasts And why LSCRE is focused on long-term ownership, not flips Learn more about LSCRE: www.lscre.com