Dan Ihara has sold over $1 billion of real estate, moved 1,600+ units, and completed 400+ 1031 exchanges—without failing a single one.

And he built the whole thing around a niche almost no operator talks about: senior-care real estate.

In this episode, Dan and Ed get into the demographic inevitability that drives his business (“should we all be blessed to live long enough, we’re going to need some level of care”), why 1031 exchanges fail for everyone else but never for him, and his definition of success that has nothing to do with the billion-dollar number on his resumé.

What you’ll hear:

• The senior-care thesis: why aging boomers are an inevitability, not a trend, and the RE play sitting on top of it
• How Dan closed 400 1031 exchanges without a single failure—the process, the team, the discipline
• Why “success is doing what I want, when I want, with whom I want” is the only definition that matters once you have the numbers
• The conversation every operator should be having with their family—and almost none are

About Dan Ihara: 20-year real estate veteran. Billion-dollar producer. Built a specialty practice serving seniors transitioning out of long-held real estate, primarily through 1031 exchanges.

Subscribe to Real Estate Underground for weekly conversations with operators who’ve been through the cycle and lived to talk about it.

Elevista - Speed as a Service™
Elevista Connect is the first AI-powered lead conversion system built for real estate investors.

🎧 Subscribe to Real Estate Underground for weekly insights on building wealth through real estate, without sacrificing your sanity.

Additional Resources:

• Clark St Capital -> Passive real estate investments for busy business owners and executives
• Elevista -> AI SaaS for real estate investors
• Clark St Academy on YouTube -> Learn how to invest in real estate

Social Media:

• LinkedIn -> Ed Mathews (President at Clark St and Elevista)

Heads up: If you find this week's book intriguing and you buy using our link, we receive a small commission that helps support the show. Thank you!

Most multifamily operators treat internet as a tenant problem or a cost line they grumble about. Adam Bell, Founder and CEO of Internet Subway, says they're leaving real money on the table.

Adam runs a modern ISP focused exclusively on apartment communities. His company delivers fiber-to-the-unit (FTTU) in bulk to property owners, who pass it to residents as an included utility and capture the rent spread. Industry data shows 5 to 15% NOI uplift on well-executed bulk deployments. The math alone is worth the conversation.

But the bigger reframe is the one Ed pulls out of him halfway through: the fiber itself is an asset. Billions are flowing into fiber networks nationally. Property owners are in a rare position to own a portion of that infrastructure, a 30-year asset hiding in their own buildings.

In this episode:

• The bulk internet math on a value-add multifamily deal, and how an owner should actually underwrite it
• Why "managed WiFi" gets oversold and what to insist on instead
• Bulk internet versus experience, and why the difference matters more than the price
• Fiber as a 30-year asset class that scales in capacity, not maintenance
• The contrarian take from his industry piece "Managed Wi-Fi isn't all it's cracked up to be"

If you're an operator, syndicator, or value-add multifamily investor, this is the episode that turns a cost line into a revenue line and reframes the building itself as a fiber asset.

This week's recommended book: The Confident Mind by Nate Zinzer

Guest: Adam Bell, Founder and CEO, Internet Subway

Website: internetsubway.com

LinkedIn: linkedin.com/in/adamlloydb

Elevista - Speed as a Service™
Elevista Connect is the first AI-powered lead conversion system built for real estate investors.

🎧 Subscribe to Real Estate Underground for weekly insights on building wealth through real estate, without sacrificing your sanity.

Additional Resources:

• Clark St Capital -> Passive real estate investments for busy business owners and executives
• Elevista -> AI SaaS for real estate investors
• Clark St Academy on YouTube -> Learn how to invest in real estate

Social Media:

• LinkedIn -> Ed Mathews (President at Clark St and Elevista)

Heads up: If you find this week's book intriguing and you buy using our link, we receive a small commission that helps support the show. Thank you!

Brandon Cobb's business model is simple: take farmland, get it approved for housing, and sell it to national home builders like Lennar and DR Horton. The builders have no choice but to buy. They're publicly traded. Plan A is buy land and build houses. Plan B is buy more land and build more houses. There is no Plan C that doesn't involve buying land.

Brandon returns to Real Estate Underground to break down how HPG Capital creates new housing neighborhoods in Nashville, why he stopped building homes but kept developing land, and how he structures deals that pay investors 18% preferred returns with no personal guarantees.

What you'll learn:

- The three phases of land development and how to profit from each one without ever building a house
- How to de-risk a deal by lining up your buyer and getting city approval before spending real money
- Why "big puzzle pieces next to small puzzle pieces" on a GIS map is the buy signal
- How he gets 20% deposits from national builders, released day one, to fund development
- Why he ditched vertical integration after hitting $22 million in annual development
- The biggest mistake he made with strategic partners and how to avoid it
- His "Body, Being, Balance, Business" framework for measuring success

Books mentioned: The Surrender Experiment and The Untethered Soul by Michael Singer

Learn land development: learnlanddevelopment.com (free 8-hour course)
Invest with HPG Capital: hbgcapital.net/waitlist

Elevista - Speed as a Service™
Elevista Connect is the first AI-powered lead conversion system built for real estate investors.

🎧 Subscribe to Real Estate Underground for weekly insights on building wealth through real estate, without sacrificing your sanity.

Additional Resources:

• Clark St Capital -> Passive real estate investments for busy business owners and executives
• Elevista -> AI SaaS for real estate investors
• Clark St Academy on YouTube -> Learn how to invest in real estate

Social Media:

• LinkedIn -> Ed Mathews (President at Clark St and Elevista)

Heads up: If you find this week's book intriguing and you buy using our link, we receive a small commission that helps support the show. Thank you!