In this episode, Ryan is joined by Dave Kotter, CEO of Hybrid Debt Fund, to explore how the real estate lending process can be improved. Dave shares how his background, from launching a landscaping company in college to entering the secondary loan market, shaped his approach to lending. After years of working with developers and seeing how broken the traditional lending process was, he founded Hybrid Debt Fund to offer a better, more efficient path for real estate financing.
Dave walks through how Hybrid Debt Fund operates, raising capital from accredited investors and family offices, and deploying funds into projects like multifamily, industrial, retail, storage, and even RV parks and mobile homes. He talks about how their structure as a stretch senior loan provider helps developers solve the common problem of sourcing multiple layers of capital. The fund also takes a share of the upside, aligning incentives without taking an LP position.
The conversation shifts into trends Dave is seeing in the market, especially the struggles in multifamily underwriting and the growing interest in manufactured housing and RV communities. He explains why large investors like Marriott and Starwood are entering the RV space and how affordability is driving more attention to alternative housing options. He also shares thoughts on what might spark a return to more multifamily development in the coming years.
Ryan sits down with Peter Murphy Lewis to talk about how storytelling can help developers and builders attract better talent and build stronger teams. They break down simple, practical ways to use video and real stories to stand out in today’s labor market.
Keith Miller joins the show to talk about his focus on building attainably priced homes at scale in Montana, why he’s using factory-built housing, and what it really takes to bring new supply to fast-growing markets.
Ryan and Charles break down falling homebuyer demand, a heated TikTok debate on millennial housing choices, a proposed property tax hike in New York City, and what a shrinking U.S. population could mean for developers.