In this episode, Bruce Norris continues his conversation with Gil Figueroa, diving deep into the forces shaping interest rates and the broader economy. They explore how market psychology, global events, and government policy intersect to influence financial markets. Gil shares his perspective on using technical analysis, including Elliott Wave theory, to forecast trends across asset classes like treasuries, stocks, and Bitcoin. The discussion also touches on major macroeconomic challenges such as stagflation, rising national debt, and the limits of Federal Reserve policy. Additionally, they examine the disruptive impact of artificial intelligence on employment and how these shifts could reshape real estate demand, particularly in office spaces and emerging sectors like data centers.

Gil Figueroa is the President of First Commercial Capital, where he specializes in the origination, underwriting, and closing of multifamily and commercial real estate loans. With over three decades of experience as a licensed real estate broker since 1993, Gil brings deep expertise in apartment lending, commercial real estate finance, and complex loan structuring. He also works closely with high-net-worth clients as a financial analyst and wealth strategist, helping align real estate investments with long-term financial and retirement goals. In addition, Gil is a seasoned speaker with extensive experience presenting at industry conferences and wealth seminars, known for delivering clear, practical insights to investors and professionals.

In this episode:

• Continuation of Bruce Norris’ conversation with Gil Figueroa on market trends and forecasting.
• Gil explains what determines interest rates, emphasizing supply, demand, fear, and greed.
• Discussion on using Elliott Wave analysis and proprietary formulas to predict markets.
• Bruce and Gil reflect on past market cycles, including the 2006–2008 housing downturn.
• Insights into stagflation, inflation, and the Federal Reserve’s limitations due to national debt.
• How global factors like war, oil prices, and currency dominance impact interest rates.
• The potential shift away from U.S. dollar dominance and implications for the economy.
• Discussion on Bitcoin trends and its divergence from traditional markets.
• The growing impact of AI on unemployment and economic stability.
• How rising unemployment could influence future interest rates and housing affordability.
• Concerns about declining demand if automation reduces the workforce.
• Real estate outlook: challenges in office space and opportunities in data centers.

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go to www.thenorrisgroup.com and click the Hard Money tab.

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Radio Show

In this episode of The Norris Group Real Estate Podcast, Bruce Norris sits down with Gil Figueroa, President of First Commercial Capital, for Part 1 of a deep dive into commercial real estate, market cycles, and lending strategy in today’s higher-rate environment. Gil breaks down how interest rates, the 10-year Treasury, cap rates, and investor psychology all interact to influence real estate valuations and decision-making. The discussion also explores lessons from the 2007–2008 financial crisis, the risks of loose underwriting, and why disciplined lending standards are critical in navigating today’s market. Together, they examine how affordability pressures, refinancing challenges, and lender behavior are shaping both risks and opportunities across commercial real estate.

Gil Figueroa is the President of First Commercial Capital, where he specializes in the origination, underwriting, and closing of multifamily and commercial real estate loans. With over three decades of experience as a licensed real estate broker since 1993, Gil brings deep expertise in apartment lending, commercial real estate finance, and complex loan structuring. He also works closely with high-net-worth clients as a financial analyst and wealth strategist, helping align real estate investments with long-term financial and retirement goals. In addition, Gil is a seasoned speaker with extensive experience presenting at industry conferences and wealth seminars, known for delivering clear, practical insights to investors and professionals.

In this episode:

• Bruce welcomes Gil Figueroa, President of First Commercial Capital.
• Gil shares his 30+ years of experience in commercial and multifamily lending.
• Bruce explains how a unique VA property deal led him to study real estate cycles.
• Why interest rates alone don’t determine housing prices.
• How the 10-year Treasury helps forecast market direction.
• The role of human behavior (fear and greed) in market cycles.
• Gil discusses Elliott Wave analysis and its impact on his forecasting.
• Lessons from the 2007–2008 housing crash and risky lending practices.
• Why Gil exited residential lending and shifted to commercial real estate.
• Key differences between residential and commercial loan structures.
• How rising interest rates impact cap rates and property valuations.
• Why affordability is shaping today’s real estate market.
• The “lock-in effect” of low mortgage rates on homeowners.
• Overview of commercial loan types and refinancing challenges.
• Why some investors avoided long-term fixed loans before rates increased.
• The “extend and pretend” strategy lenders are using today.
• Emerging distressed opportunities in select real estate markets.

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go to www.thenorrisgroup.com
and click the Hard Money tab.

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Radio Show

In this episode of The Norris Group Real Estate Podcast, Joey Romero is joined by Craig Evans, CEO of The Norris Group, and Douglas Brooke Homes for an in-depth discussion on the upcoming Florida Bootcamp and the current state of the Florida real estate market. The conversation covers key macro trends driving migration into Florida, including domestic vs. international population shifts, the long-term outlook for housing demand, and how rising interest rates and insurance changes have reshaped buyer behavior. The team also breaks down their current build-to-rent model, highlighting affordability-driven construction, stable cash flow projections, and why new construction continues to outperform aging rental stock in today’s market.

They also dive into the structure of the Florida Bootcamp itself—what attendees can expect over two days, from classroom-style learning and migration data analysis to on-site property tours and one-on-one strategy sessions. The episode emphasizes the Norris Group’s hands-on approach, including vetted land acquisition, funds control protections, and a fully managed construction and leasing process designed to reduce risk for investors.

Craig Evans is the CEO of The Norris Group, where he oversees investment strategy, development projects, and investor education initiatives focused on real estate opportunities in high-growth markets like Southwest Florida. Douglas Brooke Holmes is part of the leadership team at The Norris Group, contributing to development oversight, operations, and investor relations. Joey Romero is a host and representative of The Norris Group Podcast, focused on delivering insights from industry leaders and market experts.

Learn more about the Florida Real Estate Investing Bootcamp here:
https://thenorrisgroup.com/event/florida-real-estate-investing-bootcamp-2026

In this episode:

• Joey introduces the Norris Group Podcast and sets up the discussion on the Florida Bootcamp
• Overview of the upcoming Florida Bootcamp and why it is being relaunched
• Breakdown of Florida migration trends: domestic slowdown vs. continued international inflows
• Impact of remote work, hurricanes, insurance shifts, and rising home prices on migration patterns
• Why Florida’s population continues to grow despite a “migration boom slowdown”
• How migration is driving long-term rental demand in the state
• Introduction to the “1515 model” build-to-rent strategy
• Breakdown of project costs, land acquisition, construction pricing, and rental assumptions
• Expected cash flow, NOI, and cap rate (~5.12%) and why appreciation is treated as upside only
• Discussion of affordability as the core strategy shift in today’s market
• Why new construction reduces risk (no rehab, no inherited tenants, predictable costs)
• Comparison of Florida investment model vs. BRRRR strategy
• Role of funds control, insurance partners, and vetted land acquisition
• Overview of build timelines: permitting (~45–65 days after process starts) and construction (~7 months after permit in conservative estimates)
• Rental absorption expectations (typically 30–60 days when priced correctly)
• Bootcamp structure: classroom education, field tours of build sites, and one-on-one investor meetings
• Who this strategy is for: active investors, W-2 professionals, and 1031 exchange participants
• Pricing, discounts for spouses/partners, and rebate option for investors who build
• Q&A discussion covering insurance stability, permitting timelines, ADUs, lot types, and competition
• Final thoughts on Florida wealth migration, economic growth drivers, and long-term demand outlook

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information