Deal Flow

Deal Flow
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Deal Flow: Where Real Estate Meets Capital. We go behind the curtain of private equity real estate (CRE) to decode strategies from top dealmakers and capital allocators. We cover the full stack: capital raising, asset management, acquisitions, due diligence, and investor relations. Whether you are a GP, LP, or passive investor, we deliver the expert interviews and "on the ground" data needed to master the US housing market and CREI landscape. Hosted by Michael Pouliot.

  1. 2d ago

    How He Built 3,200 Homes With Land Nobody Can Build On | Hansel Rodriguez | Deal Flow Ep. 42

    Hansel Rodriguez is the founder and CEO of Coare Companies in Miami. He left investment banking in New York after buying his first three mobile home parks on the side. In seven years he has built Coare into about 3,200 homes across 13 states, run by his own team, and he has never sold one. Then he took the same idea to industrial outdoor storage: the truck and equipment yards cities won't zone anymore. Hansel talked to us about what an outdoor storage yard is and why big money is chasing them, why manufactured housing is one of the most affordable ways to live in America, and how his team runs 13 states with tight systems and AI. We also talked about why he only puts fixed-rate debt on his deals. 🏘️ If you invest in real estate and want to know where the overlooked yield is, this one is for you. Chapters: 00:00 Welcome to Deal Flow00:48 From college fix-and-flips to Wall Street03:38 What your first deal teaches you that banking can't05:54 Why he buys what other investors overlook07:55 The systems behind a deal a month10:14 What is an outdoor storage yard?11:54 The numbers on a yard13:43 Business tenants vs. housing residents16:27 Why cities won't zone new yards18:33 How he picks a market20:20 The long-term plan for each strategy21:46 The most affordable housing in America24:16 How the market has changed25:49 What a value-add park deal looks like27:11 Why he only uses fixed-rate debt28:25 How lenders see manufactured housing32:14 Why he runs his own parks33:54 What residents want today35:55 AI and a dashboard for 13 states38:43 One fund for each strategy39:53 Who invests in each strategy42:08 What the next 12 months could bring44:43 Where to find Hansel ________________________ ⭐ Audio Podcast is available on your favorite platforms: Spotify: Deal Flow on Spotify Apple Podcasts: Deal Flow on Apple Podcasts 📚 Get In Touch With Hansel Rodriguez: Hansel Rodriguez on LinkedIn: Hansel Rodriguez Coare Companies: coarecos.com 🔗 Stay Connected With Us: LinkedIn: Michael Pouliot 📩 Business inquiries: michael@carboncrei.com 📰 Website: investwithcarbon.com 🔔 Subscribe to our channel for more updates: Deal Flow on YouTube 🎙️ About Deal Flow Get behind the curtain of private equity real estate. We spotlight the strategies, insights, and innovations from top dealmakers, fund managers, and capital allocators shaping the future of real estate investing. 💡 Topics We Cover: Private equity real estate & housing dealsCapital raising & allocationLP/GP dynamics & investor relationsMarket trends, due diligence & operations #DealFlow #ManufacturedHousing #MobileHomeParks #IndustrialOutdoorStorage #AffordableHousing #RealEstateInvesting #CommercialRealEstate

  2. Oct 22

    Never Buy a Deal Without This Step | John Uiterwyk | Deal Flow Ep. 41

    John Uiterwyk is the National Director of Capital Projects at Lantower Residential, a national multifamily owner-operator based in Tampa. He handles roof replacements, pools and clubhouse renovations. Before that he spent 25 years in construction, renovation and asset management at Equity Residential, Paramount Construction Services and Hawthorne Residential Partners. He started at 18 with a hammer in his hand. John talked to us about the one step buyers skip before they close on a deal, how to write a scope that gets contractors bidding apples to apples, and why older properties don't scare him. We also talked about his road-warrior week and where robots and AI will show up on the job site first. 🏗️ If you own, buy or operate apartments, this one is full of lessons you can use. In this episode: 00:00 Welcome to Deal Flow 01:08 From swinging hammers in DC row houses 03:56 From the job site to leading teams 07:32 Inspect what you expect 08:35 Writing scopes contractors can actually bid 11:08 Homes first, construction site second 14:38 Getting bids apples to apples 20:34 Working with site teams and tracking ROI 25:43 General contractor vs. self-performing 29:37 A week on the road with John 32:50 Why slow answers cost weeks 36:22 The step you can't skip: construction in due diligence 41:01 Why old cost assumptions break 42:42 The projects with the biggest budget surprises 45:23 Older properties: old bones, known costs 51:13 Robots, AI and the job site 55:21 Where to find John #DealFlow #Multifamily #RealEstateInvesting #CapEx #DueDiligence ________________________ 📚 Episode Resources: John Uiterwyk on LinkedIn: John Uiterwyk Lantower Residential: Lantower Residential 🔔 Subscribe to our channel for more updates: Deal Flow on YouTube ⭐ Audio Podcast is available on your favorite platforms: Spotify: Deal Flow on Spotify Apple Podcasts: Deal Flow on Apple Podcasts 🔗 Stay Connected With Us: LinkedIn: Michael Pouliot 📩 Business inquiries: michael@carboncrei.com

  3. Oct 15

    Why He Turns Away 4 Out of 5 Multifamily Listings | Beau Beery | Deal Flow Ep. 40

    Beau Beery has spent 27 years in Florida multifamily. He started out leasing apartments, became the #1 multifamily producer in the state at Coldwell Banker Commercial, and now runs his own firm, The Multifamily Advisors. He also turns away about four out of every five listings that come his way. On this episode of Deal Flow, Michael Pouliot and Beau talk about why North Florida multifamily sales slowed down this year, how insurance has changed the math for owners, and what a seller needs to see before Beau will take a deal to market. Then Beau shares his screen and walks through a real deal, from the rent roll to the T-12 to the pro forma. It's the same way he underwrites every listing. If you're only listening, this is the one to watch on video. 📊 🎙️ Subscribe to Deal Flow for more conversations with the owners, operators, and brokers shaping real estate. ________________________ ⏱️ Chapters: 00:00 – Intro: Meet Beau Beery 01:20 – From personal trainer to leasing agent 04:15 – The deal that made him go all-in on multifamily 07:20 – What the CCIM and a master's degree taught him 08:35 – Going out on his own 10:50 – North Florida sales are down 58%: where did the buyers go? 14:00 – The flight to quality: why 200+ unit deals still trade 16:10 – Florida insurance: then vs. now 20:00 – Why he turns away 4 out of 5 listings 25:50 – Building a reputation as an honest broker 29:20 – Live underwriting: reading the rent roll 34:40 – Normalizing the T-12 against national benchmarks 39:50 – The 5 metrics he solves for (and why not cap rate) 43:50 – Walking through the pro forma inputs 48:20 – Role play: the seller who wants $8M 54:45 – Advice for sellers before calling a broker 56:30 – North Florida outlook for 2027 59:00 – Where to find Beau ________________________ 📚 Connect with Beau Beery: Website: themultifamilyadvisors.com LinkedIn: Beau Beery YouTube: Beau Knows Multifamily Book: Multifamily Investors Who Dominate 🔗 Connect with Michael Pouliot & Deal Flow: Carbon: investwithcarbon.com LinkedIn: Michael Pouliot Deal Flow on Spotify: Deal Flow on Spotify ________________________ 🎙️ About Deal Flow Get behind the curtain of private equity real estate. We spotlight the strategies, insights, and innovations from top dealmakers, fund managers, and capital allocators shaping the future of real estate investing. 💡 Topics We Cover: Private equity real estate & housing dealsCapital raising & allocationLP/GP dynamics & investor relationsMarket trends, due diligence & operations 📩 Stay Connected Business inquiries: michael@carboncrei.com This episode is for informational purposes only and is not investment, legal, or tax advice. #DealFlow #Multifamily #CommercialRealEstate #RealEstateInvesting #Underwriting #FloridaRealEstate #ApartmentInvesting #CRE

  4. Oct 8

    Is the AI Data Center Boom a Bubble? The Real Risks | David Perlstein | Deal Flow Episode 39

    Data centers are the hottest asset in real estate right now. David Perlstein has spent the last four years in that world, and he knows both the upside and what can go wrong. In this episode of Deal Flow, Michael Pouliot sits down with David Perlstein, who has spent 20 years as a principal investor across real assets. He's done real estate equity and debt, and private equity in healthcare and tech. Today he advises family offices on how to allocate capital and control risk. 🎧 What you'll hear in this episode: - The one lesson that has held up across 20 years and every asset class- What to ask a new capital or operating partner before you commit- Why power and politics are the big risks in data centers, and what makes the demand so different- How family offices think after a big liquidity event, and how that changes from one generation to the next- David's best advice for anyone who wants to partner with a family office And much more! Timestamps: 00:00 Introduction and Guest Background 00:51 David's Path Across Real Assets 01:57 The One Lesson: Partner With the Right People 03:20 The Questions to Ask Before You Partner 05:01 When It Makes Sense to Take On a New Partner 08:01 How Family Offices Think About Downside Protection 09:21 Illiquid Assets Are Illiquid 12:15 Capital Calls and Funding Gaps 13:26 Why Everyone Is Talking About Data Centers 13:50 The Biggest Risks: Power and Politics 15:41 What Makes Data Center Demand Different 17:27 What Happens to Data Centers in 10 Years? 19:38 Railroads, Bubbles and the Worst-Case Scenario 23:53 The Most Attractive Part of the Capital Stack 25:37 Where Family Offices Fund Data Centers From 27:36 The Family Office Mindset After a Liquidity Event 30:31 Should You Even Start a Family Office? 33:35 What a Full Family Office Really Costs 36:12 Passing the Family Office to the Next Generation 38:34 David's Best Advice for Working With Family Offices 40:42 Closing Thoughts 🔗 Connect with David Perlstein:https://www.linkedin.com/in/david-perlstein-4042944 🎙️ About Deal FlowGet behind the curtain of private equity real estate. We spotlight the strategies, insights, and innovations from top dealmakers, fund managers, and capital allocators shaping the future of real estate investing. Business inquiries: michael@carboncrei.comLinkedIn: Michael Pouliot

  5. Oct 1

    How To Build a Vertically Integrated Real Estate Empire | Gary Jonas | Deal Flow EP 38

    Rates are up, capital is scarce and most sub-institutional multifamily investors are still recovering. Gary Jonas says that's exactly why this is one of the best buying opportunities since 2008. In this episode of Deal Flow, Michael Pouliot sits down with Gary Jonas, CEO of The HOW Group in Philadelphia. Gary built a vertically integrated firm with brokerage, mortgage, construction, and property management in-house, growing it to 1,500 units by buying one property at a time. 🎧 In this episode, you’ll learn: • How a mortgage business revealed where real wealth is actually created • The plan to buy 1 property a year for 10 years, and why discipline beats the math • How $500K in credit lines on 10 rentals launched The HOW Group in 2008 • Why Philadelphia (driven by ed & med) offers steady growth and real cash flow • How buying below replacement cost creates a generational opportunity • Where deals come from: 80% brokers vs. 20% other developers • The swaption strategy Gary uses to protect investors from interest rate risk• Why property management is the value engine ($1 in cost savings = $16 in building value) • Meet "Howard," The HOW Group's AI scheduling employee• Gary’s strategy to double down on Philadelphia and hit 5,000 units ⏱️ Timestamps: [00:00] - Introduction and Guest Background 00:36 - From Mortgage Business to Real Estate 01:57 - The First House: Gary's Entry Into Real Estate [03:32] - How 10 Rental Properties Became His Launchpad 04:20 - The 2008 Crisis Changed Everything 05:59 - Building Brokerage, Construction & Property Management In-House 07:25 - The Power of Buying One Property at a Time 11:19 - Why Philadelphia Became a Real Estate Opportunity 14:57 - Is This a Generational Buying Opportunity? 16:48 - Where the Best Real Estate Deals Actually Come From 20:22 - How Gary Protects His Investors From Losing Money 20:54 - The Interest Rate Strategy Most Investors Don't Know About 21:37 - Managing Construction Risk When Costs Explode 24:39 - The Property Management Advantage 27:07 - Inside the "Operational Wizard" Strategy 29:19 - Why Property Management Isn't About Profit 32:48 - The Deal Gary Says Could Be His Best in 10 Years 34:48 - Raising Millions Deal by Deal 35:32 - What Happens When Real Estate Deals Underperform 37:23 - How Gary Is Using AI in Real Estate 39:42 - Why Gary Wants to Double Down on Philadelphia 41:41 - How to Connect With Gary Jonas 🎙️ About Deal Flow: Get behind the curtain of private equity real estate. We spotlight the strategies, insights, and innovations from top dealmakers, fund managers, and capital allocators shaping the future of real estate investing. 💡 Topics We Cover:- Private equity real estate & housing deals- Capital raising & allocation- LP/GP dynamics & investor relations- Market trends, due diligence & operations 📲 Stay Connected: • Business Inquiries: michael@carboncrei.com • Connect with Michael on LinkedIn: https://www.linkedin.com/in/michael-pouliot 🔗 Connect with Gary Jonas: Linkedin: https://www.linkedin.com/in/gary-jonas/Email: gary@howgroup.comFollow or subscribe to Deal Flow on Spotify so you never miss an episode!

  6. Jul 23

    Treat AI Like a New Hire: The Smart Way to Adopt AI in Business | John Hetherington | DealFlow EP 37

    AI ISN'T COMING FOR YOUR JOB — BUT IT IS CHANGING HOW YOU WORK. The businesses winning with AI aren't the ones automating everything overnight; they're the ones treating AI like a new hire: giving it clear tasks, guardrails, and room to earn trust. In this episode of Deal Flow, Michael Pouliot sits down with John Hetherington, founder of We Deliver Your Vision, a Calgary-based AI and technology strategy practice, to unpack how business leaders — especially in real estate and private equity — can adopt AI the right way, avoid costly mistakes, and prepare their teams for what's coming next. 🎧 What you'll hear in this episode: Why "just go do AI" is the wrong mandate — and what to ask insteadThe one question that reveals where AI should be applied firstWhy picking one workflow step beats automating everything at onceThe "office, house, and coffee shop" framework for AI data securityWhy junior employees using AI as a crutch creates hidden riskHow to prompt AI like a skeptic to get better, more reliable outputWhy token costs are quietly becoming a bigger problem than time savingsThe real difference between AI and agents — explained through travel bookingWhy AI should be treated like a new hire, not a finished expertWhat separates AI pilots that succeed from the ones that quietly die ⏱️ Timestamps: [00:00] Intro and guest welcome [00:38] John's background — Calgary, AI strategy, and lessons from dog agility training [02:53] The real first step before adopting AI: defining the goal [05:04] Applying AI to deal sourcing, due diligence, and acquisitions [08:02] Why you should automate one workflow step, not the whole pipeline [10:56] The danger of junior employees using AI without understanding the work [11:36] How to prompt AI like a skeptic to improve output quality [13:25] The office, house, and coffee shop framework for AI security [18:38] How to get IT, risk, and leadership on board with AI adoption [22:11] Why time saved isn't the best way to measure AI's value [23:59] The hidden cost problem — tokens, models, and runaway spend [29:15] Getting started with AI when your data is messy or still on paper [32:53] Addressing fears around AI and job security [37:21] What agents are and how they differ from standard AI tools [40:55] Treating AI like a new hire — guardrails, trust, and materiality limits [43:34] How fast AI capability is actually moving [48:07] John's golden nugget — staying curious in the age of AI [49:09] How to connect with John Hetherington 🎙️ About Deal Flow Get behind the curtain of private equity real estate. We spotlight the strategies, insights, and innovations from top dealmakers, fund managers, and capital allocators shaping the future of real estate investing. 💡 Topics We Cover: Private equity real estate & housing dealsCapital raising & allocationLP/GP dynamics & investor relationsMarket trends, due diligence & operations Stay Connected Business inquiries: michael@carboncrei.com LinkedIn: https://www.linkedin.com/in/michael-pouliot-cfa-caia-24496616/ 🎧 Subscribe for Weekly Insights: https://www.youtube.com/@dealflowpodcast-l5q/?sub_confirmation=1 #RealEstate #MultifamilyInvesting #Underwriting #RealEstateInvestors

  7. Jul 13

    Why Your Best Asset Might Be Killing Your Portfolio | Multifamily Asset Management | EP 36

    💸 Agency sponsors are not just competing on deals anymore. They are competing on institutionalization. This episode breaks down why the boring stuff (asset management, reporting, and capital strategy) is what actually separates emerging sponsors from institutional-grade multifamily platforms. In this episode, Michael Pouliot sits down with Thomas Greer, founder of Deal Frame Advisory, to unpack how the platforms that scale are not the ones with the best individual assets. They are the ones with repeatable systems across the entire portfolio. ________________________ What You'll Hear in This Episode Why decisions matter more than deals as you scaleThe mindset shift from optimizing assets to optimizing portfoliosWhere property management ends and asset management beginsWhy every renovation dollar needs to be tracked unit by unitThe fire vs. brush clearing framework for risk managementWhy capital allocates to clarity, not just returnsThe biggest investor communication mistake emerging sponsors makeHow to relinquish control without losing your standardsWhere the multifamily market is headed through 2026 and beyond ________________________ ⏱️ Timestamps 00:00 – Intro and guest welcome 00:53 – Thomas's 15-year career arc: Pacific Northwest, Singapore, and building Deal Frame 02:19 – What's usually broken when Thomas parachutes into a platform 03:54 – Asset-level thinking vs. portfolio-level thinking 07:19 – The people and roles needed to institutionalize a growing business 10:21 – Property management vs. asset management: Where the line is 14:12 – Capital decision authority and delineating accountability 15:56 – Tracking capital budgets unit by unit to protect ROI 18:21 – Reporting, escalation, and exception management 21:15 – The fire and brush clearing metaphor for proactive asset management 25:28 – Moving from deal-by-deal to institutional capital allocation 28:03 – Why capital allocates to clarity and confidence 31:16 – How to message capital calls and raises after a rough cycle 35:34 – Common failure modes as platforms try to scale 42:18 – Market outlook: Rates, concessions, and where multifamily is headed 48:23 – Rapid fire questions: Most overrated metric, best career advice 50:07 – How to connect with Thomas and Deal Frame Advisory ________________________ 🎙️ About Deal Flow Get behind the curtain of private equity real estate. We spotlight the strategies, insights, and innovations from top dealmakers, fund managers, and capital allocators shaping the future of real estate investing.

  8. Jun 25

    The Death Of The Junior Analyst In Real Estate | David Fields | Deal Flow Ep. 35

    AI isn't coming for CRE deal teams — it's already here. But the firms winning aren't the ones replacing analysts; they're the ones who know how to use AI as a force multiplier across the entire acquisition workflow. In this episode of Deal Flow, Michael Pouliot sits down with David Fields, founder of Acquios, an AI-powered acquisition operating system built for commercial real estate deal teams, to unpack how AI is transforming underwriting, due diligence, and deal pipeline management — and what it means for the next generation of real estate professionals. ________________________ 🎧 What you'll hear in this episode: How Acquios turns OMs into investment-ready models in minutesWhy the ACWA score is replacing the first-pass analyst reviewThe 100+ step underwriting process running under the hoodHow AI callers are verifying rent comps live with leasing agentsWhy every deal you look at becomes a data asset for your firmThe risk of junior analysts trusting AI outputs they don't understandWhy citations and traceability are non-negotiable in AI-powered underwritingHow due diligence checklists are now auto-generated and risk-flagged by AIThe deterministic vs. non-deterministic agent trade-off in real estate workflowsWhy AI in CRE is simultaneously overhyped and underhyped ________________________ ⏱️ Timestamps: 00:00 – Intro and guest welcome 00:47 – David's background: Disney M&A, Pixar, and real estate private equity 03:00 – Why David left investing to found Acquios 04:30 – How Acquios was born out of winning a large logistics RFP 07:00 – The core product: deal pipeline, AI extraction, and underwriting 10:00 – The ACWA score: how deals get rated and filtered 13:00 – Data integrations: CoStar, rent comps, and AI-powered verification 16:00 – AI callers verifying rent comps live with leasing agents 17:00 – The knowledge base: why every deal you look at becomes an asset 18:30 – What happens to junior analysts when AI does the grunt work 23:00 – The risk of trusting AI outputs you don't understand 28:00 – Why citations and traceability are non-negotiable 30:00 – Consistency and reliability: the hardest problem in AI workflows 32:00 – The connective tissue between acquisitions and asset management 35:00 – What's coming next: agents, data compounding, and the future of AI in CRE 38:40 – Overhyped vs. underhyped: AI and data centers in real estate ________________________ 🎙️ About Deal Flow Get behind the curtain of private equity real estate. We spotlight the strategies, insights, and innovations from top dealmakers, fund managers, and capital allocators shaping the future of real estate investing. 💡 Topics We Cover: Private equity real estate & housing dealsCapital raising & allocationLP/GP dynamics & investor relationsMarket trends, due diligence & operations 📩 Stay Connected: Business inquiries: michael@carboncrei.com LinkedIn: Michael Pouliot 🎧 Subscribe for Weekly Insights: Deal Flow on YouTube #RealEstate #RealEstateIndustry #CommercialRealEstate #MultifamilyInvesting #Underwriting #RealEstateInvestors #AIinRealEstate #PropTech

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Deal Flow: Where Real Estate Meets Capital. We go behind the curtain of private equity real estate (CRE) to decode strategies from top dealmakers and capital allocators. We cover the full stack: capital raising, asset management, acquisitions, due diligence, and investor relations. Whether you are a GP, LP, or passive investor, we deliver the expert interviews and "on the ground" data needed to master the US housing market and CREI landscape. Hosted by Michael Pouliot.

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  • Creator
    Deal Flow
  • Years Active
    2026
  • Episodes
    43
  • Rating
    Explicit
  • Copyright
    © Deal Flow
  • Show Website
    Deal Flow