Real Estate Underground

Ed Mathews
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Real talk from an operator who learned real estate the hard way. Ed Mathews analyzed 1,100+ deals before buying his first property in 2011. Frozen in fear. He made every mistake, all while traveling 150+ nights a year working for some of Silicon Valley's top companies. 100+ deals later, he shares what actually works and what doesn't. Each week, Ed brings you candid conversations with experienced operators, investors, and syndicators. No hype. No theory. Just real deals, real lessons, and the street-level intelligence you won't find anywhere else.You'll learn and hear about: Deals that worked (and the ones that didn't) What we learned when contractors ghosted and we had to step inHow to vet opportunities when everyone else is sitting on the sidelinesConservative underwriting in markets that punish optimismSystems that protect capital when deals go sideways Whether you're analyzing your first deal or your hundredth, this is the conversation you'd have over coffee with someone who's been there, made the mistakes, learned the lessons and built the track record. New episodes every Tuesday at 12pm ET.

  1. 3d ago

    No More Tenants, Trash and Toilets: Ashley Romiti on DSTs and the 721 UPREIT

    Ashley Romiti is the president and founder of GCA 1031, where she works primarily with retiring real estate investors who want to reposition their portfolios. Most of them have held their properties for a long time, and the hard part isn't the tax code. In her words: "The big thing they're giving up is control." Ashley defines the 1031 exchange, the Delaware Statutory Trust and the 721 UPREIT, then walks through how she decides which one fits where an investor is. If you're still in growth mode, she'll tell you so: "I will be the first to tell a client, 'This is not for you.'" What Ed and Ashley get into: How a 1031 exchange, a DST and a 721 UPREIT differ, and how they work together What an investor gives up in a DST: control and liquidity Why like kind is broader than most investors think Why a net lease property's value can drop as the lease term runs down The traditional DST's five to seven year hold, and the 721 DST's move into a REIT OP units, and the point where liquidity becomes a taxable event How DST debt can replace the loan you paid off in an exchange What 100 cold calls a day taught Ashley about rejection Also in this episode, at 25:35, Questions from the Underground: The Personal Guarantee. An investor named Ronnie called Ed about a four-unit in Connecticut with six partners, none holding more than 20%, and his position was that nobody has to sign. Ed explains why that doesn't work, why the guarantee is really about how you responsibly use leverage, and why being worried about signing one is a warning sign. This episode is general education on how these structures work. It is not tax, legal or investment advice. DSTs are illiquid and returns are not guaranteed. Talk to your own CPA and advisor about your situation. Learn more about Ashley and GCA 1031 at gca1031.com. Chapters: 00:00 Cold open: don't let one person have that much control over you 00:59 Welcome, Ashley Romiti of GCA 1031 01:56 Who Ashley works with: retiring investors repositioning a portfolio 03:12 Definitions: 1031 exchange, DST and 721 UPREIT 06:40 Like kind is broader than you think 06:59 What you give up in a DST: control 11:34 Growth or preservation: matching the vehicle to where you are 15:16 How the 721 UPREIT works 20:23 Debt replacement in a DST 23:35 1031 for growth, DST to land the plane, 721 for the estate 25:35 Questions from the Underground: The Personal Guarantee 30:07 Lightning round and where to find Ashley Flipper Camp is a live online program for house flippers, taught by Ed Mathews, who has been flipping houses since 2011. Learn how to find deals that pencil, estimate a rehab without guessing, fund and sell on budget, and use AI and technology to run more than one flip at a time. The next session is capped at 25 seats.  Join the waitlist for first access: https://flippercamp.com 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 executivesElevista -> AI SaaS for real estate investorsClark St Academy on YouTube -> Learn how to invest in real estateSocial 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!

  2. Nov 3

    The Cost Seg Study Look-Back: It's Not Too Late with Amar Patel

    Amar Patel is a CPA and one of the partners at KBKG, where he heads up the Southeast cost segregation practice out of Atlanta. He spends his days inside other people's depreciation schedules, and the first thing he looks for is one line labeled "building" being written off over 27 and a half or 39 years. His point for anyone who skipped the study at closing: "It's kind of a common misconception in the industry... cost segregation needs to be done in the year I buy an asset, and that's not necessarily true." Amar walks through the look-back study, which goes back to a property you've owned for years and pulls the missed depreciation into the current tax year without amending a prior return. He also explains why he rarely looks back past 2018 on acquired property, and what the IRS takes back through recapture when you sell. What Ed and Amar get into: How a cost segregation study finds the parts of a building that depreciate over 5, 7 and 15 yearsWhy part of the electrical that feeds the refrigerator can depreciate with the refrigeratorRecapture, and why Amar asks every client up front whether they'll hold the property past three yearsThe look-back study on a building you already own, and where Amar draws the line on how far back to goWhat happens to the strategy if bonus depreciation changes with the next administrationShort-term rentals, passive losses, and when the deductions can reach W-2 incomeThe self-rental setup Amar sees with doctors and dentists who own their buildingHow a 1031 exchange changes what you can depreciate going forwardThe service line he passed on early in his career, and the one he said yes to at KBKGAlso in this episode, at 25:26, Questions from the Underground: To Contingency or Not to Contingency. A Connecticut investor told Ed over coffee that he stopped carrying a rehab buffer because it always gets spent. Ed explains why he thinks that's wrong, why a lender reads a budget with no contingency as a red flag, and why a contractor eating your reserves through change orders is a contractor problem, not a buffer problem. This episode is general education on how cost segregation works. It is not tax advice. Talk to your own CPA about your situation...or reach out to Amar directly. Learn more about KBKG at kbkg.com, try the DIY tool at costsegregation.com, or find Amar on LinkedIn. Amar's book recommendation: Process!: How Discipline and Consistency Will Set You and Your Business Free Chapters: 00:00 Cold open: freeing up cash investors didn't know they had01:11 Welcome, Amar Patel of KBKG03:43 How a cost segregation study works08:40 Recapture: what comes back when you sell10:41 The most common depreciation mistake and the look-back study13:26 If bonus depreciation changes again16:58 Short-term rentals, passive losses and W-2 income25:26 Questions from the Underground: To Contingency or Not to Contingency28:43 Year-end planning before the fourth quarter31:21 Lightning round and where to find AmarGot a question you want answered on the show? Send it to ed@clarkst.com. Recorded October 2026. Real Estate Underground with Ed Mathews. Find us wherever you get your podcasts, at clarkst.com/podcast or elevista.com/podcast Flipper Camp is a live online program for house flippers, taught by Ed Mathews, who has been flipping houses since 2011. Learn how to find deals that pencil, estimate a rehab without guessing, fund and sell on budget, and use AI and technology to run more than one flip at a time. The next session is capped at 25 seats.  Join the waitlist for first access: https://flippercamp.com 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 executivesElevista -> AI SaaS for real estate investorsClark St Academy on YouTube -> Learn how to invest in real estateSocial 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!

  3. Oct 27

    Tax Liens 101 from the Attorney Who Helped Rewrite the Rules: Stephen Morel

    Stephen Morel has spent more than 20 years as a Louisiana title attorney working in the messiest corner of title work: delinquent tax sale titles. He helped rewrite Louisiana's tax sale law, and after Hurricane Katrina he built a title insurance program that put abandoned, forgotten properties back into the stream of commerce. Now he runs JurisDeed. His opening point is the one most tax lien pitches skip. "This is not a private investment, this is a government investment... You have to play by their rule book." Stephen also explains why the Supreme Court took the gotcha out of tax liens. After Tyler v. Hennepin County, the investor who forecloses no longer keeps the owner's equity. What's left is an interest return, and a process you have to prove you followed. What Ed and Stephen get into: Why tax sales are a real problem in the Northeast, for owners who paid off their houses and still face big tax bills Tyler v. Hennepin, Pung v. Isabella County, and who gets the surplus when a property sells What a tax lien actually is, and why most redeem long before foreclosure Fifty states, fifty rule books: notices, clocks and the receipts you need to get paid Post-Katrina New Orleans, missing owners, and why title insurers wouldn't touch abandoned properties The Robinhood idea behind JurisDeed Build it and they will come, and the decision he'd take back Learning more from mistakes than from wins Also in this episode, Questions from the Underground, from Marnee in South Carolina: two years into a multifamily syndication, the sponsor sent a capital call for another 20% of her original investment, due in 30 days. Ed covers the three things a sponsor owes you before you wire more money, why you treat the call like a brand new investment, what the operating agreement says happens if you pass, and three things to do before you invest a single dollar. JurisDeed is in closed beta at jurisdeed.com. Stephen also hosts The Innovative Investor Podcast, or find him on LinkedIn. Got a question you want answered on the show? Send it to ed@clarkst.com. Recorded September 2026. Real Estate Underground with Ed Mathews. Find us wherever you get your podcasts, at clarkst.com/podcast or elevista.com/podcast Flipper Camp is a live online program for house flippers, taught by Ed Mathews, who has been flipping houses since 2011. Learn how to find deals that pencil, estimate a rehab without guessing, fund and sell on budget, and use AI and technology to run more than one flip at a time. The next session is capped at 25 seats.  Join the waitlist for first access: https://flippercamp.com 🎧 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 executivesElevista -> AI SaaS for real estate investorsClark St Academy on YouTube -> Learn how to invest in real estateSocial 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!

  4. Oct 20

    Renting Dirt: Nasir Ali of Rise360 Ventures on Manufactured Housing Communities

    Nasir Ali runs Rise360 Ventures. He comes from eight generations in commercial real estate and is the second generation in manufactured housing, a business his family just marked 45 years in, through at least nine downturns. His case for the asset class is simple. "We own the land. And sure the common areas and whatnot, but essentially we're renting dirt." No plumbing, no electrical, no toilets for every unit. "I don't own the damn door." Nasir also thinks the hard part of the cycle hasn't hit yet. As credit tightens, he says, it sets the stage for more creativity, more creative financing and alternative financing. And when budgets get cut, "people drop what they don't need. You can't drop shelter." What Ed and Nasir get into: The late-1970s playbook, and why investors who couldn't adapt were left behind Commercial defaults in office and retail, and why they still hit everyone in commercial real estate through the banks Seller financing, master leases and the other options when bank lending dries up Why manufactured housing has been resilient, not just recession resistant "There's plenty of housing. The problem is it's not affordable." Affordability versus attainability Filling half-empty communities with a dealer arm, financing and turnkey three-bed, two-bath homes The get rich slow scheme: a three to five year journey from 60 or 70% occupancy to full What eight generations passed down when the money was lost: tenacity, knowledge and values The HVAC company he bought after 2008 that cratered overnight, and why you make sure you understand your domain Why his definition of success is one word Also in this episode, Questions from the Underground, from Dave in San Clemente, California: an investor rehabbed and rented a house, and the refi appraisal came in short of what he needed to pull his cash back out. Ed covers why you need to be proactive with appraisers, not reactive, the packet he gives every appraiser, why any pushback is about the comp and not the number, and why he underwrites the refi at 90 to 95% of after rehab value before he buys. Book mentioned: How to Win Friends and Influence People by Dale Carnegie, Nasir's pick Get Nasir's free manufactured housing report at rise360ventures.com, or find him on LinkedIn. Got a question you want answered on the show? Send it to ed@clarkst.com. Recorded September 2026. Real Estate Underground with Ed Mathews. Find us wherever you get your podcasts, at clarkst.com/podcast or elevista.com/podcast Flipper Camp is a live online program for house flippers, taught by Ed Mathews, who has been flipping houses since 2011. Learn how to find deals that pencil, estimate a rehab without guessing, fund and sell on budget, and use AI and technology to run more than one flip at a time. The next session is capped at 25 seats.  Join the waitlist for first access: https://flippercamp.com 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 executivesElevista -> AI SaaS for real estate investorsClark St Academy on YouTube -> Learn how to invest in real estateSocial 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!

  5. Oct 13

    18% Over 10 Years Beats 20% in Three: Forrest Jinks of Altus Equity Group

    Forrest Jinks runs Altus Equity Group, a real estate investment company that works with family offices and high net worth investors. Most sponsors chase top-line IRR: get in, get out in two, three or four years. Forrest says that leaves a lot of meat on the bone. "It might be awesome to get an 18% return over 10 years versus a 20% return in three." He cares about the net return, after taxes, and about how much risk sits behind the number. Altus runs a lending side too, and Forrest underwrites every loan like an owner. His first question: would we love to own this in our equity business at the debt amount plus foreclosure costs? "If the answer is yes, we're gonna figure out a way to make that loan work." What Ed and Forrest get into: Why a 12% first-position loan at 30% loan to value can beat an 18% ground-up construction deal An industrial building in Mississippi bought for $12 a foot, and the Fortune 500 tenant that signed first Why Forrest calls the Altus debt fund "effectively a proxy for the 10-year Treasury" Walking the property, on equity deals and on loans No back-end leverage, and why Ed's debt fund doesn't borrow to lend either Why the biggest red flag in an investor is wanting to get rich quick Holding for 10 years or more, and why real estate's wider band lets you buy low and sell high in any part of the cycle The day Forrest decided to build a company instead of doing three or four deals a year The promise he made to investors before 2008, and why he'll never make it again His daughter's olive oil business, and why her $7,000 from him is an investment, not a gift Also in this episode, Questions from the Underground: Jose's lender approved half his draw, and his contractor says no money, no work. Ed covers why the fight is really about the definition of done, why your project schedule and your draw schedule need the exact same language, and why you carry a 10 to 20% contingency. Book mentioned: Making the Zeros Count, Forrest's pick Read the Altus Insight, Forrest's monthly article on investing and economics, at altusequity.com/insights. Got a question you want answered on the show? Send it to ed@clarkst.com. Recorded September 2026. Real Estate Underground with Ed Mathews. Find us wherever you get your podcasts, at clarkst.com/podcast or elevista.com/podcast Flipper Camp is a live online program for house flippers, taught by Ed Mathews, who has been flipping houses since 2011. Learn how to find deals that pencil, estimate a rehab without guessing, fund and sell on budget, and use AI and technology to run more than one flip at a time. The next session is capped at 25 seats.  Join the waitlist for first access: https://flippercamp.com 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 executivesElevista -> AI SaaS for real estate investorsClark St Academy on YouTube -> Learn how to invest in real estateSocial 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!

  6. Oct 6

    Building an AI Investment Committee: Palmy Kitti of The Kitti Sisters

    Palmy Kitti and her sister Nan started a fashion business with $2,000. Years later their biggest client shut down all its retail stores and 95% of their income was gone overnight. They moved into flipping houses in Los Angeles, then into multifamily syndication. Seven and a half years in, Palmy says they have nearly half a billion dollars in assets under management across Georgia, Arkansas and Texas. Now a lot of that business runs through AI. After a property management changeover, her system flagged that one property had more cash than its reports showed. They'd overfunded the reserve account by $169,000. Finding that used to mean people matching rent rolls against the T12 and the general ledger by hand. She says it took her less than five minutes. She's just as clear about where AI stops. "You can have the best AI tools, but AI doesn't give you that judgment. You have to make that judgment." What Ed and Palmy get into: The $169,000 her AI caught in a reserve account after a property management changeover A fire that burned eight units with only two occupied, and the eight-page report that got the insurer to approve business interruption on all eight: $136,000 through August Her AI investment committee, with a risk role, a capital role and a market role that each try to find the flaws in a deal before a CEO role sums it up Why AI multiplies the advantage you already have and can't create one for you Ed's rule for the AI agents in his flip business: they handle execution, never judgment How a newer investor can use AI to bring real value to an experienced general partner The partner who stole her investor list, and the partners who went quiet during a refinance Why drinks on Thursday doesn't mean you get married on Saturday The investor on their dead list who invested five years later "Earn to own," and what Fortune Builders taught her about owning assets before buying things Also in this episode, Questions from the Underground: when do I quit the job? Ed covers what has to be in place before you leave your W-2: insurance, cash reserves, debt, plus structure and protection. Book mentioned: The Innovation Secrets of Steve Jobs by Carmine Gallo, Palmy's pick Learn about Palmy's AI operating system at kittiroadmap.com, and find The Kitti Sisters at thekittisisters.com and on YouTube, TikTok, Instagram and Facebook. Got a question you want answered on the show? Send it to ed@clarkst.com. Recorded September 2026. Real Estate Underground with Ed Mathews. Find us wherever you get your podcasts, at clarkst.com/podcast or elevista.com/podcast Flipper Camp is a live online program for house flippers, taught by Ed Mathews, who has been flipping houses since 2011. Learn how to find deals that pencil, estimate a rehab without guessing, fund and sell on budget, and use AI and technology to run more than one flip at a time. The next session is capped at 25 seats.  Join the waitlist for first access: https://flippercamp.com 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 executivesElevista -> AI SaaS for real estate investorsClark St Academy on YouTube -> Learn how to invest in real estateSocial 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!

  7. Sep 29

    How a PhD Underwrites Apartments: Jason Williams of Ironclad Underwriting

    Jason Williams spent 15 years as a chemical engineer. He's owned real estate since 2003 and large multifamily since 2017. When he started underwriting apartments, half the spreadsheets he was handed had broken cells and equations that didn't work, so he built his own model. People kept asking him to show them how it worked, and that model became Ironclad Underwriting. His rule is simple: never underwrite off your own numbers. The property manager tells him what each unit can rent for. The insurance broker prices the premium off comparable properties, and he uses the high end of the range. A tax advisor fights the assessment. And the plumber's bid gets multiplied by three, sometimes four. "Every single property I've had from a 1950s build up to early 2000s has had major plumbing issues." What Ed and Jason get into: Why a T12 almost never ties to the bank statements, and when that gap is actually a red flagRent rolls that look clean but hide a rollover cliff, and why the manager, not the spreadsheet, sets pro forma rentsInsurance priced on replacement cost, and what Texas nondisclosure does to your tax bill after you buyThe tax advisor who saved him $20,000 one year and $11,000 this year, paid only on a percentage of what he savesWhy he no longer chases agency debt, even with the better ratesA 72-unit plumbing job that put residents in a hotel for two weeks, and a gas leak that shut off the gas over Easter weekendEd's sewer line on a 10-unit building that passed inspection: a $5,000 to $10,000 fix at purchase that became $44,000 a year and a half laterSix months of reserves, and why Ed doubled his after the pandemicThe zoning mistake on a mobile home community that has cost Jason more than a year of unexpected debt serviceAlso in this episode, Questions from the Underground. An experienced Connecticut investor asked Ed whether it's time to cycle back to cash flow deals or keep riding the appreciation wave. Ed's answer: it's always a cash flow play. Appreciation is the cherry on top, not the basis of a business plan. Books mentioned: Who Not How by Dan Sullivan with Dr. Benjamin Hardy, Jason's favoriteThe E-Myth Revisited by Michael E. GerberConnect with Jason Williams at ironcladunderwriting.com, or on LinkedIn. His free underwriting resources and his weekly underwriting podcast are on the site. Got a question you want answered on the show? Send it to ed@clarkst.com. Recorded September 2026. Real Estate Underground with Ed Mathews. Find us wherever you get your podcasts, at clarkst.com/podcast or elevista.com/podcast Flipper Camp is a live online program for house flippers, taught by Ed Mathews, who has been flipping houses since 2011. Learn how to find deals that pencil, estimate a rehab without guessing, fund and sell on budget, and use AI and technology to run more than one flip at a time. The next session is capped at 25 seats.  Join the waitlist for first access: https://flippercamp.com 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 executivesElevista -> AI SaaS for real estate investorsClark St Academy on YouTube -> Learn how to invest in real estateSocial 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!

  8. Sep 22

    Boring Is Beautiful: Stewart Heath on 13% Cash on Cash and the $300,000 He Did Not Have

    Stewart Heath, CPA went into 2008 over-levered and under-reserved. He handed buildings back to the banks. He says that for want of roughly $300,000 in reserves he would still own them, and every rule he operates by now was built backward from that number. His book is called "Don't Do What I Did." Stewart runs Harvard Grace Capital out of Spring Hill, Tennessee, buying stabilized commercial assets along the I-65 corridor from Nashville to Birmingham. Medical office, suburban office, storage, retail and warehouse. Eleven assets by the company's count and more than 300,000 square feet. Their tagline is boring is beautiful. It is printed on the banners. "There's not a whole lot boring about 13% cash on cash returns." What Ed and Stewart get into: The 12 months of mortgage reserves he sets aside on every deal, sized as if the property income goes to zero, and what holding that money costs him in returnsWhy medical office is his favorite asset class: hundreds of thousands of dollars of tenant build-out, 10 year leases, triple net with 3% bumps and tenants who treat rent as a line item instead of a negotiationSuburban office and service retail, the class B buildings where a business meets its customers rather than collects its employeesWhy he underwrites a geography and not an asset classWhy he refused to run a fund for years, and what two independent RIA relationships changedRetail moving from 25% food and restaurants to almost 60%, with price per square foot almost doubling in three yearsWhy he stopped doing single-tenant deals after watching a tenant walk out on 10 years of leaseThe contrarian office call: nobody can finance new office, the population is not shrinking and one of his buildings sits in a town under a two year sewer moratoriumAlso in this episode, a new segment called Questions from the Underground. An investor owns 19 units two states away. His manager reports 95% occupancy every month and his distributions have shrunk four quarters in a row. Ed walks through the per unit profit and loss that tells him whether he has a building problem, a manager problem or one bad quarter. Books mentioned: "Don't Do What I Did" by Stewart Heath. Free at harvardgrace.com for an email address.Who Not How by Dan Sullivan with Dr. Benjamin Hardy. Stewart is on his third read.The E-Myth Revisited by Michael E. GerberBuy Back Your Time by Dan MartellRich Dad Poor Dad by Robert Kiyosaki, the book his mentor handed himConnect with Stewart Heath at harvardgrace.com, or on LinkedIn. The free book and his calendar are both on the site, and he will talk real estate with anyone. Got a question you want answered on the show? Send it to ed@clarkst.com. Recorded June 2026. Real Estate Underground with Ed Mathews. Find us wherever you get your podcasts, at clarkst.com/podcast or elevista.com/podcast Flipper Camp is a live online program for house flippers, taught by Ed Mathews, who has been flipping houses since 2011. Learn how to find deals that pencil, estimate a rehab without guessing, fund and sell on budget, and use AI and technology to run more than one flip at a time. The next session is capped at 25 seats.  Join the waitlist for first access: https://flippercamp.com 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 executivesElevista -> AI SaaS for real estate investorsClark St Academy on YouTube -> Learn how to invest in real estateSocial 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!

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About

Real talk from an operator who learned real estate the hard way. Ed Mathews analyzed 1,100+ deals before buying his first property in 2011. Frozen in fear. He made every mistake, all while traveling 150+ nights a year working for some of Silicon Valley's top companies. 100+ deals later, he shares what actually works and what doesn't. Each week, Ed brings you candid conversations with experienced operators, investors, and syndicators. No hype. No theory. Just real deals, real lessons, and the street-level intelligence you won't find anywhere else.You'll learn and hear about: Deals that worked (and the ones that didn't) What we learned when contractors ghosted and we had to step inHow to vet opportunities when everyone else is sitting on the sidelinesConservative underwriting in markets that punish optimismSystems that protect capital when deals go sideways Whether you're analyzing your first deal or your hundredth, this is the conversation you'd have over coffee with someone who's been there, made the mistakes, learned the lessons and built the track record. New episodes every Tuesday at 12pm ET.

Information

  • Creator
    Ed Mathews
  • Years Active
    2021 - 2026
  • Episodes
    220
  • Rating
    Clean
  • Copyright
    © 2026 Clark St Holdings LLC
  • Show Website
    Real Estate Underground