Real Returns

Hosted by Birgo Capital

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Nov 2026

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About the show

Welcome to the Real Returns podcast, where we learn how real investments can make a real impact. Join your hosts, Andrew and Dan, as they share stories and interview business leaders on how real estate and other forms of investment can create meaningful change for individuals and communities around the world.

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November 6, 2026Episode 923 min

S9E9 - Rick Hammell | Lessons From Scaling a Global Startup

In this episode of Real Returns, Andrew sits down with Rick Hammell, Founder and CEO of Globalli, a unified global HR, payroll and payments platform, and the founder of Atlas, the first direct employer of record. Rick explains how Globalli's own payroll engine can process global payroll in under eight business hours instead of the eight to 10 business days it can take elsewhere, and why his team tests the product with AI personas. He and Andrew also get into starting his first company at 19, selling his house to fund Atlas, and the "inshallah" payroll moment that set him on this path. Timestamps: 00:00 - Cold Open: Why Customers Say It Feels Like HR Built It 00:40 - Welcome And Meet Rick Hammell 02:31 - How AI Is Changing Global Payroll 03:24 - From Eight Days To Eight Hours 06:12 - The "Inshallah" Payroll Moment 07:36 - What Impact Looks Like 08:34 - Automate, Automate, Automate 12:52 - AI as a Thinking Partner 15:46 - Rick's Founder Story 17:38 - Leaving Atlas And Starting Globalli 22:47 - How To Reach Rick "I don't get out of bed unless I'm doing some type of transformation or impact to someone." - Rick Hammell Connect with Rick: LinkedIn: https://www.linkedin.com/in/rickhammell/ Website: https://globalli.io — For more insights on purposeful investing, subscribe to Real Returns on Apple Podcasts, Spotify, or YouTube. Apple Podcasts: https://podcasts.apple.com/us/podcast/real-returns/id1642761377 Spotify: https://open.spotify.com/show/5tx0jOW8J1h3xsEWLuVPzm YouTube: https://youtube.com/@UCjlzrIn04Ee4iBPE7kEUBjg — Subscribe to our monthly newsletter: http://www.realreturnspodcast.com Want to see your question answered on the show? Submit a question via our Q&A form: https://forms.gle/Fy9E6H7BTpzhGPueA — Invest alongside our team with Birgo Heartland Multifamily Fund V, targeting resilient Midwest workforce housing markets: https://birgo.com/fundv?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e9_rickhammell&utm_content=fund_v Reiturn® is Birgo's new platform* bringing real estate investing to everyday investors, not just accredited ones, with a minimum for the public of $1,000. *The equity crowdfunding round to own a share of the Reiturn® platform is live at https://invest.reiturn.com/?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e9_rickhammell&utm_content=reiturn_raise

October 28, 2026Episode 826 min

S9E8 - Brett Swarts | Tax Flow, Not Just Cash Flow

In this episode of Real Returns, Andrew sits down with Brett Swarts, CEO and founder of Capital Gains Tax Solutions, to talk about the Deferred Sales Trust, a tax deferral strategy Andrew had never heard of until they met at a conference in March. Brett walks through how it works with a $10 million exit example, how it compares to a 1031 exchange, and where these plans can go wrong. He also shares how his team is using AI, including a landing page built in about eight minutes. Timestamps: 00:00 - Cold Open: Flexibility Beyond The 1031 Exchange 00:54 - Meet Brett Swarts 01:23 - Teaching A Team To Work With AI 02:22 - AI In Action: A Landing Page In Eight Minutes 05:05 - Show Your AI, Don't Just Talk About It 06:25 - What Is A Deferred Sales Trust? 08:38 - A $10 Million Exit, Step By Step 09:36 - Where Does The Capital Gain Go? 11:03 - Truly Passive Income 12:28 - Estate Tax Planning And DST 2.0 15:45 - Do You Lose Control Of Your Capital? 18:10 - What The IRS Thinks 21:55 - Where These Plans Go Wrong 23:21 - What Happens If It Doesn't Work 24:44 - Who It's For And How To Reach Brett "We believe that truly passive income is to your freedom and impact as compounding interest is to your money." (Brett Swarts) Connect with Brett: LinkedIn: linkedin.com/in/brett-swarts Website: capitalgainstaxsolutions.com For more insights on purposeful investing, subscribe to Real Returns on Apple Podcasts, Spotify, or YouTube. Subscribe to our monthly newsletter: http://www.realreturnspodcast.com Want to see your question answered on the show? Submit a question via our Q&A form: https://forms.gle/Fy9E6H7BTpzhGPueA Invest alongside our team with Birgo Heartland Multifamily Fund V, targeting resilient Midwest workforce housing markets: https://birgo.com/fundv?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e8_brettswarts&utm_content=fund_v Reiturn® is Birgo's new platform* bringing real estate investing to everyday investors, not just accredited ones, with a minimum for the public of $1,000. *The equity crowdfunding round to own a share of the Reiturn® platform is live at https://invest.reiturn.com/?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e8_brettswarts&utm_content=reiturn_raise

October 21, 2026Episode 723 min

S9E7 - Prath Reddy | Unlocking the Future of Private Credit

In this episode of Real Returns, Andrew sits down with Prath Reddy, co-founder and CEO of Percent, a private credit platform that works as both an asset manager and an electronic trading venue for institutions. Prath shares how he went from raising bonds at UBS to building Percent with a co-founder he met on AngelList, what changed when he became CEO after nearly eight years, and how he protects his time with his family. He and Andrew also get into how AI is changing the way his team builds software. Timestamps: 00:00 - Cold Open: Selling And Buying Discreetly 00:29 - Meet Prath Reddy 00:59 - What Keeps A First-Time CEO Up At Night 01:55 - Staying Present As A Founder And Dad 03:50 - Impact Across Work, Home, And Community 05:41 - From UBS To AngelList: The Origin Story 08:24 - From President To CEO 09:20 - Do, Delegate, Defer, Delete: Using AI As A Filter 11:07 - Building A New Trading Platform In Six Weeks Connect with Prath: LinkedIn: linkedin.com/in/prath Website: percent.com For more insights on purposeful investing, subscribe to Real Returns on Apple Podcasts, Spotify, or YouTube. Apple Podcasts: https://podcasts.apple.com/us/podcast/real-returns/id1642761377 Spotify: https://open.spotify.com/show/5tx0jOW8J1h3xsEWLuVPzm YouTube: youtube.com/channel/UCjlzrIn04Ee4iBPE7kEUBjg/ Subscribe to our monthly newsletter: http://www.realreturnspodcast.com Want to see your question answered on the show? Submit a question via our Q&A form: https://forms.gle/Fy9E6H7BTpzhGPueA Invest alongside our team with Birgo Heartland Multifamily Fund V, targeting resilient Midwest workforce housing markets: https://birgo.com/fundv?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e7_prathreddy&utm_content=fund_v Reiturn® is Birgo's new platform* bringing real estate investing to everyday investors, not just accredited ones, with a minimum for the public of $1,000. *The equity crowdfunding round to own a share of the Reiturn® platform is live at https://invest.reiturn.com/?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e7_prathreddy&utm_content=reiturn_raise

October 15, 2026Episode 622 min

S9E6 - Stephanie Puryear Helling | Why The Best Teams Build Instead of Fix

In this episode of Real Returns, Andrew sits down with Stephanie Puryear Helling, an international keynote speaker, executive coach, author, and founder of SPH Services. After more than 20 years leading learning and development inside a global multifamily organization, Stephanie explains why the best teams are built on strengths instead of fixes, and how tools like DISC, CliftonStrengths, and The Five Dysfunctions of a Team show leaders what's really happening inside their companies. She and Andrew also get into employee engagement, where AI fits in, and a new faith-inspired leadership certificate for property management. Timestamps: 00:00 - Cold Open: Building Teams Around Strengths 00:46 - Meet Stephanie Puryear Helling 02:42 - Why Assessments Matter 04:58 - CliftonStrengths: Strengths Over Weaknesses 06:49 - Building Teams With Complementary Strengths 08:14 - Seeing Culture Change Inside Organizations 11:33 - The Employee Engagement Gap 14:25 - Connecting Purpose To Daily Work 15:53 - AI And The Future Of Work 18:10 - A Faith-Inspired Leadership Certificate 20:28 - How To Reach Stephanie "Our best opportunity for performance improvement, both personally and within organizations is to focus on our strengths and actually work on honing them even more." — Stephanie Puryear Helling Connect with Stephanie: LinkedIn: linkedin.com/in/spuryearhelling Website: shedoesntshrink.com — For more insights on purposeful investing, subscribe to Real Returns on Apple Podcasts, Spotify, or YouTube. Apple Podcasts: https://podcasts.apple.com/us/podcast/real-returns/id1642761377 Spotify: https://open.spotify.com/show/5tx0jOW8J1h3xsEWLuVPzm YouTube: https://www.youtube.com/@realreturns — Subscribe to our monthly 'Investin on Purpose' newsletter: http://www.realreturnspodcast.com Want to see your question answered on the show? Submit a question via our Q&A form: https://forms.gle/Fy9E6H7BTpzhGPueA — Invest alongside our team with Birgo Heartland Multifamily Fund V, targeting resilient Midwest workforce housing markets: https://birgo.com/fundv?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e6_stephaniehelling&utm_content=fund_v Reiturn® is Birgo's new platform* bringing real estate investing to everyday investors, not just accredited ones, with a minimum for the public of $1,000. *The equity crowdfunding round to own a share of the Reiturn® platform is live at https://invest.reiturn.com/?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e6_stephaniehelling&utm_content=reiturn_raise

October 7, 2026Episode 523 min

S9E5 - Isaac Carter | Lead the Market, Don't Chase It

In this episode of Real Returns, Andrew sits down with Isaac Carter, CEO of Contollo Consulting, a technology entrepreneur with more than 25 years in data architecture, software, and business transformation. Isaac explains why founders who lead with their own voice stand out in an AI-saturated market, and how free 10-minute interviews with 62 founders at DFW Startup Week doubled as market research. He and Andrew also get into why leading with value beats leading with the ask. Timestamps: 00:00 - Cold Open: Henry Ford Didn't Invent The Car 00:38 - Meet Isaac Carter 01:37 - From Staffing To Founder-Led Go-To-Market 04:29 - Does AI Content Help Or Hurt Founders 06:26 - What 62 Founders Revealed At DFW Startup Week 09:13 - How To Ask Customers The Right Questions 11:35 - Why Knowing Is More Than Half The Battle 14:29 - Why Messaging Matters More Than The Product 16:27 - Making The Customer The Hero 18:49 - Lead With Value, Not The Ask 21:42 - How To Reach Isaac "AI cannot help you feel connected. But humans can." - Isaac Carter Connect with Isaac: Website: contollo.net — For more insights on purposeful investing, subscribe to Real Returns on Apple Podcasts, Spotify, or YouTube. Apple Podcasts: https://podcasts.apple.com/us/podcast/s9e5-isaac-carter-lead-the-market-dont-chase-it/id1642761377?i=1000793728080 Spotify: https://open.spotify.com/episode/0fE2P8YTPPbaw5mxQm3A6A?si=4LTj78czQhOb_CkCbvSS3Q — Subscribe to our monthly newsletter: http://www.realreturnspodcast.com Want to see your question answered on the show? Submit a question via our Q&A form: https://forms.gle/Fy9E6H7BTpzhGPueA — Invest alongside our team with Birgo Heartland Multifamily Fund V, targeting resilient Midwest workforce housing markets: https://birgo.com/fundv?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e5_isaaccarter&utm_content=fund_v Reiturn® is Birgo's new platform* bringing real estate investing to everyday investors, not just accredited ones, with a minimum for the public of $1,000. *The equity crowdfunding round to own a share of the Reiturn® platform is live at https://invest.reiturn.com/?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e5_isaaccarter&utm_content=reiturn_raise

September 30, 2026Episode 426 min

S9E4 - Vicky Schiff | Private Credit and Loan to Cost Investing

In this episode of Real Returns, Andrew sits down with Vicky Schiff, CEO and founder of Avrio Clean Fund and a serial entrepreneur who has co-founded six firms over three decades in real estate. Vicki breaks down how private credit actually works, from senior loans and stretch senior proceeds to the debt yield math lenders use to protect their basis. She and Andrew also dig into why the recent private credit "exodus" headlines are mostly a corporate credit story, how construction cost overruns and rate hikes have squeezed multifamily borrowers, and how Avrio's PACE financing ties sustainability improvements to better loan economics. Timestamps: 00:00 - Cold Open: When A Loan Goes Underwater 00:48 - Welcome And Meet Vicki Schiff 02:40 - What Private Credit Actually Is 05:02 - Senior Loans, Stretch Senior, And Mezzanine 06:30 - Loan To Cost, Loan To Value, And Debt Yield Explained 09:24 - Why Borrowers Choose Private Credit Over A Bank 13:38 - The Private Credit "Exodus" Headlines, Explained 15:57 - How Construction Costs And Rate Hikes Sink A Deal 18:21 - Where The Opportunity Is Now 21:08 - PACE Financing And The Double Bottom Line 24:55 - How To Connect With Vicky - "Somebody makes a loan to build a multifamily asset. That multifamily asset is supposed to be worth that $120 million that I just mentioned to you. But when it's built, it's worth 90, and it didn't cost 100, it cost 110, because construction costs went up." — Vicki Schiff Connect with Vicky: LinkedIn: https://www.linkedin.com/in/vicky-schiff-46b6361b Avrio CleanFund: https://www.avrio-cleanfund.com/ - For more insights on purposeful investing, subscribe to Real Returns on Apple Podcasts, Spotify, or YouTube. Apple Podcasts: https://podcasts.apple.com/us/podcast/s9e4-vicky-schiff-private-credit-and-loan-to-cost-investing/id1642761377?i=1000792460825 Spotify: https://open.spotify.com/episode/4ewFDu5pBg1VgdSCoulWOb?si=pCj3QMtSQ-iwd3KebFnDZA YouTube: https://www.youtube.com/watch?v=0leuW-VglFE — Subscribe to our monthly newsletter: http://www.realreturnspodcast.com Want to see your question answered on the show? Submit a question via our Q&A form: https://forms.gle/Fy9E6H7BTpzhGPueA — Invest alongside our team with Birgo Heartland Multifamily Fund V, targeting resilient Midwest workforce housing markets: https://birgo.com/fundv?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e4_vickyschiff&utm_content=fund_v Reiturn® is Birgo's new platform* bringing real estate investing to everyday investors, not just accredited ones, with a minimum for the public of $1,000. *The equity crowdfunding round to own a share of the Reiturn® platform is live at https://invest.reiturn.com/?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e4_vickyschiff&utm_content=reiturn_raise

September 23, 2026Episode 329 min

S9E3 - Joe Cardosi | The Four Ps of Specialty Pharmacy

In this episode of Real Returns, Andrew sits down with Joe Cardosi, Founder and CEO of Free Market Health, a healthcare technology company that connects patients to the specialty pharmacies equipped to treat their most complex diagnoses. Joe breaks down why a tiny slice of patients, those on specialty drugs for conditions like cancer or cystic fibrosis, drive the majority of a health plan's total drug spend, and why the system built around them is often too slow and too fragmented to serve the people it exists for. He and Andrew also get into what it actually took to build a fast-growing company and a five-kid family in the same stretch of life. "One to two percent of patients are driving 55 to 60% of a health plan's drug spend." — Joe Cardosi, Founder & CEO, Free Market Health Connect with Joe: LinkedIn: linkedin.com/in/joe-cardosi/ Website: freemarkethealth.com — For more insights on purposeful investing, subscribe to Real Returns on Apple Podcasts, Spotify, or YouTube. Apple Podcasts: https://podcasts.apple.com/us/podcast/s9e3-joe-cardosi-the-four-ps-of-specialty-pharmacy/id1642761377?i=1000791348758 Spotify: https://open.spotify.com/episode/0tcv3M19JzAWAQpxP1YdCd?si=uJj-dgVrT52fMyzrzgJBbQ YouTube: https://youtu.be/g6Y9dNAc-lQ — Subscribe to our monthly newsletter: http://www.realreturnspodcast.com Want to see your question answered on the show? Submit a question via our Q&A form: https://forms.gle/Fy9E6H7BTpzhGPueA — Reiturn® is Birgo's new platform bringing real estate investing to everyday investors, not just accredited ones, with a minimum for the public of $1,000. The equity crowdfunding round to own a share of the Reiturn® platform is live at https://invest.reiturn.com/?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e4_joecardosi&utm_content=reiturn_raise

September 16, 2026Episode 223 min

S9E2 - Kevin Morris | Crowdfunding Capital in the Modern World

In this episode of Real Returns, Andrew sits down with Kevin Morris, founder of Atlas Rd, who has helped raise over $350 million in capital across his own companies and the businesses he now advises. Kevin traces the evolution of equity crowdfunding from a fallback for companies that could not raise anywhere else to a tool blue chip brands are choosing on purpose, and makes the case for why a cap table of 10,000 small investors can be a bigger asset than a single VC check. He and Andrew also get into the work they are doing together on Reiturn, Birgo's platform built to bring real estate investing to everyday investors. Timestamps: 00:00 - Cold Open: The Math Behind Crowdfunding's Reach 00:47 - Meet Kevin Morris 02:05 - From Deloitte To CFO To Capital Raising 06:35 - How The JOBS Act Opened The Door 09:40 - Blue Chip Companies Embracing Equity Crowdfunding 12:15 - A Tough Market Pushes Founders To Crowdfunding 15:00 - Trend Or Permanent Shift In Capital Raising 17:30 - Why 10,000 Investors Beat One VC 19:45 - Impact: Access, Cheerleaders, And Growth 21:10 - Building Reiturn With Birgo 22:50 - How To Reach Kevin "I view having this many investors as something that's really going to help propel your business over time. And you have 10,000 cheerleaders. What's better than that?" — Kevin Morris Connect with Kevin: LinkedIn: linkedin.com/in/kevin-morris-30510b16 Website: atlas-rd.com - For more insights on purposeful investing, subscribe to Real Returns on Apple Podcasts, Spotify, or YouTube. Apple Podcasts: https://podcasts.apple.com/us/podcast/real-returns/id1642761377 Spotify: https://open.spotify.com/show/5tx0jOW8J1h3xsEWLuVPzm YouTube: https://www.youtube.com/channel/UCjlzrIn04Ee4iBPE7kEUBjg/videos?view=0&sort=dd&shelf_id=1 Subscribe to our monthly newsletter: http://www.realreturnspodcast.com - Invest alongside our team with Birgo Heartland Multifamily Fund V, targeting resilient Midwest workforce housing markets: https://birgo.com/fundv?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e2_morris&utm_content=fund_v Reiturn® is Birgo's new platform bringing real estate investing to everyday investors, not just accredited ones, with a minimum for the public of $1,000. The equity crowdfunding round to own a share of the Reiturn® platform is live at https://invest.reiturn.com/?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e2_morris&utm_content=reiturn_raise

September 9, 2026Episode 123 min

S9E1 - Jay Parsons | What the Data Actually Says about Rental Housing

In this episode of Real Returns, Andrew sits down with Jay Parsons, a rental housing economist, advisor, and podcaster who helps investors and other stakeholders make sense of what's actually happening in apartments and single-family rentals. Jay pulls back the curtain on the data behind today's multifamily market, from where institutional capital is and isn't looking, to why the national affordability conversation gets the real story wrong. He and Andrew also get into migration patterns within a single metro, the flight to quality reshaping renter demand, and where the next decade of returns will actually come from. Timestamps: 00:00 - Cold Open: Migration Back To Local Markets 00:53 - Meet Jay Parsons 02:46 - Why Execution Now Matters More Than Ever 04:58 - Pittsburgh, Cincinnati, And Cleveland Fly Under Radar 07:57 - The Flight To Quality Among Renters 10:01 - Migration Patterns Within A Single Metro 11:57 - Solving The Affordable Housing Shortage 15:54 - Rethinking The National Affordability Narrative 20:16 - Why The Next Cycle Is About NOI 22:34 - How To Reach Jay "If you take out that population, we do not have an affordability crisis in the U.S. on a national level." — Jay Parsons Connect with Jay: LinkedIn: linkedin.com/in/jay-parsons-a7a6656 Website: jayparsons.com — For more insights on purposeful investing, subscribe to Real Returns on Apple Podcasts, Spotify, or YouTube. Apple Podcasts: [link pending] Spotify: [link pending] YouTube: [link pending] — Subscribe to our NEW monthly newsletter: http://www.realreturnspodcast.com Want to see your question answered on the show? Submit a question via our Q&A form: https://forms.gle/Fy9E6H7BTpzhGPueA — Invest alongside Birgo in Birgo Heartland Multifamily Fund V, targeting resilient Midwest workforce housing markets: https://birgo.com/fundv?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e1_jayparsons&utm_content=fund_v Reiturn® is Birgo's new platform bringing real estate investing to everyday investors, not just accredited ones, with a minimum for the public of $1,000. – The equity crowdfunding round to support and own a share of Reiturn® is live now at invest.reiturn.com/?utm_source=youtube&utm_medium=podcast&utm_campaign=s9e1_jayparsons&utm_content=reiturn_raise

June 24, 2026Episode 934 min

S8E9 - Season 8 Recap

In the Season 8 finale, Andrew and Dan look back on an incredible season of guests. Four years in, the hosts reflect on what makes this podcast meaningful: the honest, humanizing stories of entrepreneurs who aren't afraid to talk about what it really takes to find success. Greg Furer: https://www.youtube.com/watch?v=4Lg8fgAuI_g Solving the "Cheesecake Factory problem" in financial planning, and why simplicity and trust matter more than the size of the inheritance. Adam Taki: https://www.youtube.com/watch?v=tZVNOkqDbZY Why tax lien investing isn't what you think, and how an overlooked niche turns non-performing assets into performing ones. Patrick Colletti: https://www.youtube.com/watch?v=6Wtkc17P5vk What it means to be a "refounder," and the leadership lessons that only come from building the same business twice. Dr. Dinakar Golla: https://www.youtube.com/watch?v=8JP27rWDkEw What medicine and investing share when it comes to precision, patience, and trust. Mary Fearon: https://youtu.be/KgMOCaX7Slo Why people do their best work when the work actually means something to them. Hisham Albahar: https://youtu.be/VyWwDGxQ-0o Navigating geopolitical complexity and leading with vulnerability in a world that rarely slows down. Afif Ghannoum: https://www.youtube.com/watch?v=8vUnLmlc0Xw Betting on science over hype, and the personal health journey that made this conversation so candid. - Connect with Us! Birgo Capital: Website: https://birgocapital.com LinkedIn: https://linkedin.com/company/birgocapital Hosts: Andrew Reichert: https://www.linkedin.com/in/andrewreichert/ Dan Croce: https://www.linkedin.com/in/danielcroce/ Subscribe to our NEW 'Investing on Purpose' newsletter! (it won't be NEW after this season!) https://realreturnspodcast.com