Property Profits Real Estate Podcast

Dipesh Sitaram is not looking for a five or ten year real estate hold. His goal is to buy quality healthcare real estate with all equity, plan the exit before the purchase, and recycle the capital in under three years.

After 20 years practicing oral surgery, Dipesh says real estate investing helped him retire from clinical practice. Looking back at his investments across different real estate sectors, healthcare stood out as what he calls the Steady Eddie.

He now focuses on healthcare assets such as specialty surgery centers, medical office buildings, and ambulatory surgery centers.

One major part of his strategy is the Delaware Statutory Trust, or DST. Dipesh explains how an asset can be acquired through a fund, contributed into a DST, and then made available to 1031 investors looking for a passive replacement property.

He also walks through a 15 million dollar specialty surgery center example and explains why his value comes from the structure, legal work, and packaging instead of renovations or appreciation.

Key topics and takeaways:

Why Dipesh prefers investment periods under three years

Why he avoids leverage and purchases with all equity

Why healthcare became his Steady Eddie after investing in other sectors

How a Delaware Statutory Trust can fit into a 1031 exchange

The 15 million dollar specialty surgery center example

Why he targets assets in the 15 million to 25 million dollar range

Why his planned exit matters before he buys an asset

His goal to positively impact 20,000 investors over the next 20 years

Guest information:

Dipesh Sitaram practiced oral surgery and TMJ oral surgery for 20 years in the Midwest. He says his real estate investing and investments allowed him to retire from clinical practice three years ago.

He now helps people invest in real estate deals through Acure Capital.

Website:

acurecapital.com

Call to action:

Dipesh says accredited investors are the main group he targets. He also welcomes people who want to ask questions about real estate, discuss deals, seek mentorship, or talk about wealth strategies.

Visit:

acurecapital.com

A 98 unit property with about $15,000 in annual debt service caught Denis Shapiro’s attention for one simple reason. The debt was backed by a zero percent state loan that his team could assume.

Denis and his partners focus on Low Income Housing Tax Credit properties. Their strategy is to buy properties during the second 15 year affordability period, when the original credits have already phased off but income and rent restrictions remain.

Denis explains why these properties can trade far below replacement cost, why his team likes secondary markets, and why high occupancy can make the model attractive even with all the compliance work.

He also shares the story of a North Carolina transaction that became even more interesting when his team asked the seller to include another 41 unit property in Lynchburg, Virginia. The seller agreed.

Key Topics

How Low Income Housing Tax Credit properties work

Why Denis buys during the second 15 year affordability period

Buying some properties for about $25,000 per unit

The 98 unit Kinston deal with zero percent debt

Adding a 41 unit Lynchburg property to the transaction

Why bureaucracy creates both frustration and a barrier to entry

Working with funds, individual offerings, and selected joint ventures

Why Denis wants his company to depend less on outside investor capital over time

Guest Information
Denis Shapiro is an investor and operator with SIH Capital Group.

Website: sihcapitalgroup.com

Email: denis@sihcapitalgroup.com

LinkedIn: Search for Denis Shapiro

Call to Action
Denis says the easiest way to connect is to email him directly.

You can also visit sihcapitalgroup.com to review past deals or connect with him on LinkedIn.

RV parks are not always about travelers stopping for one night. Nathan Jameson is investing in RV sites that function much more like housing.

Nathan’s company manages about 2,000 manufactured home and RV sites across roughly 17 communities, with three more communities in escrow at the time of the conversation. His current fund is expected to be about 90 percent manufactured housing and 10 percent RV.

Nathan explains the difference between transient RV parks and the housing focused model he prefers. That includes seasonal sites where people return throughout the summer and workforce housing where residents may sign annual leases while working on construction projects or major developments.

He also explains why he sees manufactured housing as an unusual investment. Demand for affordable housing is growing while the supply of manufactured housing is shrinking. At the same time, operators have to deal with rising acquisition prices, property upkeep, regulation, and the possibility of rent control.

Key topics and takeaways:

Why Nathan separates transient RV parks from RV sites used as housing

How workforce housing can support growing local economies

Why he views some RV properties as a covered land play

Why manufactured housing faces increasing demand and decreasing supply

How low rents can leave owners without enough cash flow to maintain a community

Why institutional capital can push property prices and rents higher

How zoning limits tiny homes, ADUs, and other smaller housing options

Guest information:

Nathan Jameson is a real estate investor and operator whose company manages manufactured housing and RV communities across several states.

Email: nathan@arcsventures.com

Website: arcsventures.com

Call to action:

Nathan says he enjoys talking with investors and believes people should get to know someone before writing a check. Investors who want to begin a conversation can email him at nathan@arcsventures.com or visit arcsventures.com.

Thomas McPherson learned in the military to plan for things going wrong before they go wrong. He has carried that mindset into private real estate lending, where he focuses on speed, careful lending, and alignment with investors.

Expanded Description

Thomas started his professional career as a Navy Corpsman stationed with the Marine Corps. After leaving the military, he moved to Phoenix in 2009 and entered commercial real estate during a chaotic market.

He worked with short sales, trustee sales, REOs, and distressed loans before moving deeper into loan origination.

Today, his company provides short term private loans, mainly for flippers, ground up construction, and bridge financing in Arizona. Thomas explains why some real estate entrepreneurs choose private lenders over banks, including faster closings and a lending approach that can account for the way real estate tax deductions affect a borrower on paper.

He also shares how his military experience shaped his views on planning and investor protection. Thomas says his company has subordinated its own investment to its clients, meaning investors get paid before the company does.

Key Topics and Takeaways

Why Thomas likes the predictability of lending secured by real estate

How distressed debt in Phoenix helped shape his career

Why his business is roughly 60% flippers, 30% construction, and 10% bridge financing

Why Thomas generally looks for borrowers to put 20% to 30% down

How his team can sometimes close loans in three days or less

Why military planning and redundancy influence his approach to risk

How more than $4.5 million of company invested capital sits ahead of investors when absorbing potential losses

Guest Information

Thomas McPherson is a private lender based in Arizona. His company works with flippers, builders, and borrowers who need short term bridge financing.

Guest website: Lukeroom website as stated in the interview

Call to Action

To learn more about Thomas and his company, visit the website he shared during the interview:

Lukeroom website as stated in the interview

Rent control does not automatically mean a real estate deal should be avoided. For Michelle Jeong, the bigger question is whether you understand the rules, have the right local team, and have underwritten the property conservatively.

Michelle invests in value add multifamily properties and student housing across the United States. Based in San Francisco, she has firsthand experience operating in a heavily regulated market.

She explains why investors need a seasoned local attorney and a property manager who understands the rules at the property level. Michelle also talks about using the local Rent Control Board as an educational resource.

Another major part of her approach is due diligence. Michelle shares the story of discovering a nearby opportunity through a tweet, canceling her morning meetings, and going to see the property herself. For older properties in rent controlled markets, she says both financial and physical due diligence matter because additional CapEx may need to be built into the underwriting.

Key topics and takeaways:

Why rent control does not automatically make a deal unattractive

The importance of a seasoned local real estate attorney

Why hyper local property management matters

How Rent Control Boards can help landlords understand procedures

Why Michelle uses conservative underwriting in regulated markets

The importance of physical due diligence on older properties

Why Michelle sends detailed monthly investor newsletters

How she matches investors with specific types of deals

Guest information:

Michelle Jeong is with Fire Capital and invests in value add multifamily properties and student housing. She said her portfolio includes roughly 1,100 to 1,200 doors and more than $100 million in assets under management.

Connect with Michelle through Investing with Fire.

Michelle also mentioned Fire Metrics, a free AI market metrics tool designed to let users enter a city or area and evaluate the market. She said the tool would be available through her website.

Call to action:

Visit Investing with Fire to connect with Michelle and look for Fire Metrics. Michelle is especially interested in connecting with people who may be interested in student housing opportunities.