What happens when a building bought for $10,000 per door gets lost to foreclosure, returned by the bank for free, and eventually becomes worth $1.2 million per unit—and what does that teach us about staying power?

In this episode, Angel Williams sits down with Dylan Vaccaro, a New York City multifamily investor who works alongside self-made real estate billionaire Francis Greenberger at Time Equities. Dylan shares his unconventional journey from architecture school to USC's real estate program, through lending and capital raising, to his current role managing acquisitions and operations for a $7+ billion portfolio. He reveals the three cardinal investing principles he learned from Greenberger: control your purchase price, control who makes decisions, and maintain staying power. This conversation explores why Time Equities never sells, how neighborhood gentrification creates massive wealth, and why positive cash flow from day one has returned to the NYC market for the first time in years.

[00:01 - 08:00] From Architecture to Real Estate Operations

• Why Dylan switched from architecture after realizing "the pay of an artist" with engineering skills

• The three essential syndicator skills: finding deals, raising capital, understanding capital structure

• How working in BTR lending and private equity prepared him for operations

[08:01 - 16:00] The Three Cardinal Principles of Real Estate Investing

• Why purchase price determines everything about a deal's success potential

• How control over decision-making separates winning deals from disasters

• The Clinton Hill story: $12M building lost to foreclosure, returned for free, now worth $1.8B

[16:01 - 22:00] Why Buy and Hold Beats Value-Add Flips

• How time fixes most mistakes in real estate investing

• Why exit cap rate projections are "always gonna be wrong"

• The tax inefficiency of forced 1031 exchanges under time pressure

[22:01 - 26:25] NYC Market Opportunities and Neighborhood Intelligence

• Why every deal Dylan underwrites now cash flows from day one (first time in 2-3 years)

• How Upper East Side demographics shifted from age 65-70 to 35-40 in just two years

• The art and science of understanding neighborhood gentrification patterns

Connect with Dylan: https://www.linkedin.com/in/dylan-vaccaro-4450b9140/

Key Quotes: "The only one thing true about your proforma is it's always gonna be wrong." - Dylan Vaccaro

Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!

What's the fundamental difference between losing $50,000 as an LP versus potentially losing much more as a GP when deals go sideways—and how do you manage the stress that comes with higher stakes?

In this final episode with Sean, Angel and Sean dive into the psychological and financial realities of real estate investing at different levels. Sean explains the "lizard brain" reactions that cause panic over non-life-threatening situations and shares wisdom from habit-formation books like Atomic Habits. They discuss the critical risk difference between limited and general partners, why higher returns always come with higher risks, and how Angel's transparency during crisis moments provides rare GP insights to her LP investors. This conversation covers practical stress management, the value of continuous learning, and why the LP-to-GP pathway provides essential preparation for the increased responsibilities and liabilities of active investing.

[00:01 - 07:00] The Lizard Brain and Stress Management

• How 2-million-year-old brain reactions cause unnecessary panic in modern investing

• Bobby Castro's concept of "non-refundable minutes" and choosing what deserves worry

• Using habit formation techniques to retrain automatic stress responses

[07:01 - 12:00] Learning from LP Experience as Preparation for GP Role

• How Angel draws on her passive investment experiences during active challenges

• The value of Charles Lame's meticulous record-keeping as a "serial passive investor"

• Why experienced LPs represent an underutilized resource for new GPs

[12:01 - 17:00] The Hidden Reality of GP Risk

• Why GPs can lose far more than their initial investment when deals go wrong

• The fundamental risk difference: LPs lose their investment, GPs face unlimited liability

• Why GP compensation reflects the additional risk and responsibility they assume

[17:01 - 21:00] Transparency and Community Building

• How Angel's openness about struggles provides rare GP education to LP investors

• The importance of contingency planning and realistic risk assessment

• Sean's approach to sharing both successful and challenging investment experiences

Connect with Sean: Website: twtmultifamily.com/book-a-call

Upcoming Event: AIM Denton Meetup - Monday, October 15th at Houlihan's Panel featuring experienced GP, new GP, and veteran passive investor Charles Lame

Key Quotes:

"If there's more return, there's gonna be more risk... you always have to tell yourself, if I'm getting a much bigger return, there's a much bigger risk." - Sean Griffith

Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!

What happens when you stop trying to do everything yourself and start focusing on your superpower while building a team around your weaknesses?

In this continuation episode, Sean shares how he and his wife transitioned from their kitchen table retirement crisis to successfully closing multiple general partnership deals within months. He explains the power of persistence, finding the right coaching, and building complementary partnerships where each person focuses on their strengths. Angel reveals her approach to being upfront about not doing underwriting while excelling at investor relationships, and how this honesty actually builds more trust than trying to fake expertise. This conversation explores team dynamics, the importance of great communication (highlighting standout sponsors), and practical wisdom about prioritization and managing stress in high-pressure deal situations.

[00:01 - 05:00] The Power of Persistence and Coaching

• Why daily practice and persistence are essential for mastering real estate skills

• How coaching helps you go "faster, sooner" and avoid expensive mistakes

• The kitchen table moment that led Sean from passive investor to general partner

[05:01 - 10:00] Finding Your Superpower and Being Honest About Weaknesses

• Angel's approach: "Underwriting is not my thing, but I can get you in touch with the guy who it is"

• How honesty about limitations builds more investor trust than fake expertise

• Sean's wife as the organizational backbone keeping him on track

[10:01 - 16:00] Building Complementary Teams and Extended Networks

• Why you need team members who can diplomatically handle difficult conversations

• How different roles (asset managers, underwriters, brokers) speak different "languages"

• The importance of having liquidity on the team for upfront expenses and emergencies

[16:01 - 21:00] Communication Excellence and Prioritization

• Why Elaine Viegas, Daniel Canterbury, and Don Naim excel at investor communication

• Learning prioritization by studying how great sponsors handle crises

• Sean's grandmother's wisdom: worry about what you can control, pray about what you can't

Connect with Sean Griffith: https://www.linkedin.com/in/shawn-griffith/

Key Quotes:

"We react to things like it's a life or death situation. And it's usually not... how much stuff these days is really life or death?" - Angel Williams

Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!