When Real Estate Gets Real

When Real Estate Gets Real is a behind-the-scenes podcast for real estate operators who’ve already closed a deal and discovered that the spreadsheets weren’t the hard part.
Hosted by Stephen Lee-Thomas, the show explores what actually changes after the first close when real money, real investors, and real pressure enter the picture.
Each episode goes beyond tactics to unpack the decisions, mistakes, leadership challenges, and personal growth that define the shift from “I did a deal” to “I’m a real operator now.”
This podcast is for operators past their first close who want truth over hype, clarity over noise, and systems that support long-term scale.
When Real Estate Gets Real is a behind-the-scenes podcast for real estate operators who’ve already closed a deal and discovered that the spreadsheets weren’t the hard part.
Hosted by Stephen Lee-Thomas, the show explores what actually changes after the first close when real money, real investors, and real pressure enter the picture.
Each episode goes beyond tactics to unpack the decisions, mistakes, leadership challenges, and personal growth that define the shift from “I did a deal” to “I’m a real operator now.”
This podcast is for operators past their first close who want truth over hype, clarity over noise, and systems that support long-term scale.
Episodes
Episodes



Wednesday May 07, 2025
How to Buy Real Estate on Your Own Terms: Chris Prefontaine’s Insider Strategies
Wednesday May 07, 2025
Wednesday May 07, 2025
In Episode 20 of The Stephen Lee-Thomas Show, we dive deep into creative real estate investing with Chris Prefontaine, founder of Smart Real Estate Coach, 4-time best-selling author, and Forbes Business Council member. With over 33 years of experience, Chris has weathered multiple market cycles and built a thriving real estate business without relying on banks or personal loans.
Chris shares how he transitioned from traditional financing to creative financing strategies, helping investors structure deals with no banks, no credit, and little to no money down. He also breaks down his "Three Paydays" system, a unique approach that generates upfront cash, monthly cash flow, and long-term wealth.
If you're looking to escape the 9-to-5, scale your portfolio, or learn how to buy real estate on your own terms, this episode is packed with actionable insights.
What You’ll Learn:
✅ Why market cycles don’t matter when you use creative financing ✅ How to buy real estate without using banks or personal credit ✅ The “Three Paydays” system that generates long-term wealth
Episode Highlights:
[00:00:00] – Welcome & Chris’s journey into real estate[00:05:12] – Surviving the 2008 crash & rewriting the rules of investing[00:12:45] – The power of creative financing: subject-to, seller financing & lease purchases[00:18:30] – The Three Paydays: How to generate multiple streams of income per deal[00:23:10] – Mindset shifts for escaping the W-2 & achieving financial freedom
Ways to Connect with Chris Prefontaine:
📚 Free Book: https://wickedsmartbooks.com/
🌐 Website: https://smartrealestatecoach.com/
🎙️ Podcast: Smart Real Estate Coach Podcast
Instagram: https://www.instagram.com/chrisprefontaine_/
LinkedIn: https://www.linkedin.com/in/chrisprefontaine/
Visit www.skool.com/multfamilymasteryhub and fast-track your way to becoming a full-time real estate entrepreneur today!
Connect with Us:
Skool Community
Website
Facebook
Instagram
LinkedIn
YouTube
Support the Show: Enjoy our content? Share with your family and friends and anyone who will benefit with the insight we shared today. Leave us a review on your preferred platform to help us grow or any suggestion.
Join Our Community: Become a part of our exclusive Skool community, Capital Raising Mastery Hub. Get valuable resources, engage in discussions, and receive support for real estate entrepreneurs. Join Now! We are live!
Contact Us: For inquiries, guest appearances, or sponsorship opportunities, contact us at info@raisegenius.ai.



Wednesday Apr 23, 2025
From Wholesaling to 136 Units: Eric Lindsey’s Proven Multifamily Game Plan
Wednesday Apr 23, 2025
Wednesday Apr 23, 2025
In Episode 19 of the Stephen Lee-Thomas Show, we talk multifamily real estate with Eric Lindsey, who has scaled his portfolio to 136 units as a general partner. Eric shares his journey from wholesaling single-family homes to building a sustainable investment career through mobile home parks and apartment syndications.
Discover why Eric transitioned from high-volume wholesaling to multifamily investing and how he’s leveraging his experience to generate long-term wealth through strategic acquisitions, smart partnerships, and hands-on education.
What You’ll Learn:
Why mobile home parks are more resilient and profitable than you think
How Eric transitioned from wholesaling to owning 136 units
Strategies to raise capital—even without a deep network
How passive investors can vet deals and sponsors
The real returns of alternative investments like multifamily and mobile home parks
Episode Highlights:
[00:00:00] – Introduction: Meet Eric Lindsey[00:02:45] – Eric’s first deals and early lessons from wholesaling[00:06:12] – Building 150 new lots in a mobile home park[00:10:40] – The education that shifted Eric’s investing approach[00:15:05] – From podcast listener to real estate syndicator[00:19:30] – Why mobile home parks offer better returns[00:24:00] – What passive investors should know about underwriting[00:28:48] – Overcoming the capital-raising challenge[00:33:20] – The importance of partnerships and vetting[00:37:55] – Eric’s advice to new general and passive investors[00:41:30] – What’s next: Eric’s vision for thousands of unitsWays to Connect with Eric Lindsey:
Website: moonlightcre.com
Personal Website: ericlindseyml.com
LinkedIn: linkedin.com/in/eric-lindsey-162255230
Email: eric@moonlightequities.com
Podcast: The Moonlight Real Estate Side Hustle and Syndication Show
If you're a busy professional looking to invest passively or make the leap into GP roles, this episode is packed with value. Don’t forget to subscribe, rate, and review on your favorite podcast platform.
Visit www.skool.com/multfamilymasteryhub and fast-track your way to becoming a full-time real estate entrepreneur today!
Connect with Us:
Skool Community
Website
Facebook
Instagram
LinkedIn
YouTube
Support the Show: Enjoy our content? Share with your family and friends and anyone who will benefit with the insight we shared today. Leave us a review on your preferred platform to help us grow or any suggestion.
Join Our Community: Become a part of our exclusive Skool community, Capital Raising Mastery Hub. Get valuable resources, engage in discussions, and receive support for real estate entrepreneurs. Join Now! We are live!
Contact Us: For inquiries, guest appearances, or sponsorship opportunities, contact us at info@raisegenius.ai.



Wednesday Apr 09, 2025
Wednesday Apr 09, 2025
In Episode 18 of the Stephen Lee-Thomas Show, we dive into the future of real estate investing with Ricardo Johnson, founder of Oases, a pioneering platform that leverages blockchain technology to make real estate investment more accessible. Through tokenized co-ownership, Ricardo is revolutionizing how investors can own fractional shares of income-generating luxury properties offering flexibility, security, and passive income without the traditional barriers of real estate ownership.
With a background in finance, real estate, and Web3, Ricardo shares his journey from traditional UK real estate investing to building a global, blockchain-powered investment platform. He breaks down how tokenization works, its advantages over traditional investing, and why crypto investors are turning to real estate for portfolio diversification.
If you’ve ever wondered how blockchain and real estate intersect or how you can invest in properties worldwide with just a few hundred dollars with this episode is for you!What You’ll Learn:
What is blockchain and tokenization? (Explained in simple terms!)
How Oases makes real estate investing accessible through blockchain
The advantages of tokenized real estate vs. traditional investing
How crypto investors can diversify into stable, income-generating assets
The future of real estate investing in a digital economy
Episode Highlights:
[00:00:00] – Introduction: Who is Ricardo Johnson?[00:02:15] – How blockchain is revolutionizing real estate investing[00:06:42] – Ricardo’s background: From UK real estate to Web3 innovation[00:12:30] – Explaining blockchain and tokenization in simple terms[00:18:45] – How Oases works: A global real estate investment marketplace[00:25:10] – The advantages of investing in tokenized real estate[00:32:20] – Regulations, accredited investors, and accessibility[00:38:15] – Where real estate tokenization is heading in the next 5-10 years[00:40:00] – How to connect with Ricardo & start investingWays to Connect with Ricardo Johnson:
🌐 Website: ownoases.io💼 LinkedIn: Ricardo C. Johnson💬 Telegram: @RicoCJohnson
👉 Enjoyed this episode? Share it with a friend who’s curious about blockchain & real estate investing! Don’t forget to subscribe, rate, and review on your favorite podcast platform.
Visit www.skool.com/multfamilymasteryhub and fast-track your way to becoming a full-time real estate entrepreneur today!
Connect with Us:
Skool Community
Website
Facebook
Instagram
LinkedIn
YouTube
Support the Show: Enjoy our content? Share with your family and friends and anyone who will benefit with the insight we shared today. Leave us a review on your preferred platform to help us grow or any suggestion.
Join Our Community: Become a part of our exclusive Skool community, Capital Raising Mastery Hub. Get valuable resources, engage in discussions, and receive support for real estate entrepreneurs. Join Now! We are live!
Contact Us: For inquiries, guest appearances, or sponsorship opportunities, contact us at info@raisegenius.ai.



Wednesday Mar 26, 2025
Wednesday Mar 26, 2025
In Episode 17 of the Stephen Lee-Thomas Show, we dive deep into capital raising, investor trust, and AI-driven deal analysis with Lance Pederson.
Lance shares his journey from selling an IT services company at 21 to managing a $300M+ equity fund and helping over 200 sponsors launch investment funds. Now, as the co-founder of Passive Advantage, he’s revolutionizing deal analysis for passive investors using AI.
If you’ve ever struggled with raising capital, finding investors, or evaluating deals, this episode is packed with game-changing insights.
What You’ll Learn:
The biggest mistakes investors make when raising capital
Why education & transparency build long-term investor trust
How AI-powered underwriting is changing the game for LPs
The Magnetic Message Framework for standing out in capital raising
How to attract investors without hard selling
Episode Highlights:
[00:00:00] – Introduction: Lance Pederson’s journey from IT to real estate [00:07:45] – The two biggest challenges in apartment investing [00:15:30] – Building trust with investors through education [00:27:10] – Marketing vs. Sales: Why most capital raisers fail [00:39:20] – AI-powered deal analysis: How it works & why it matters
Ways to Connect with Lance Pederson:
Website: LancePederson.com
Passive Advantage: PassiveAdvantage.com
LinkedIn: Lance Pederson on LinkedIn
Visit www.skool.com/multfamilymasteryhub and fast-track your way to becoming a full-time real estate entrepreneur today!
Visit www.skool.com/multfamilymasteryhub and fast-track your way to becoming a full-time real estate entrepreneur today!
Connect with Us:
Skool Community
Website
Facebook
Instagram
LinkedIn
YouTube
Support the Show: Enjoy our content? Share with your family and friends and anyone who will benefit with the insight we shared today. Leave us a review on your preferred platform to help us grow or any suggestion.
Join Our Community: Become a part of our exclusive Skool community, Capital Raising Mastery Hub. Get valuable resources, engage in discussions, and receive support for real estate entrepreneurs. Join Now! We are live!
Contact Us: For inquiries, guest appearances, or sponsorship opportunities, contact us at info@raisegenius.ai.



Wednesday Mar 12, 2025
Scaling $300M+ in Real Estate: Michael Voulgarakis’ Investment Strategy
Wednesday Mar 12, 2025
Wednesday Mar 12, 2025
In Episode 16 of the Stephen Lee-Thomas Show, we dive into multifamily real estate with Michael Voulgarakis, a seasoned investor with 18 years of experience in underwriting, capital raising, and asset management. With over 26 deals—18 of which have gone full cycle—Michael has scaled his portfolio to over $300 million in assets under management.
In this episode, Michael shares why he invests in Seattle despite the perception that "blue cities" aren’t landlord-friendly. He breaks down market cycles, explains the risks and rewards of bridge debt, and offers insights into finding opportunities even in uncertain economic times.
Michael also discusses the impact of AI on real estate markets, why job diversity is key for recession resilience, and how investors can strategically navigate today’s shifting landscape.
🚀 If you're looking to refine your real estate strategy and gain insights from a seasoned investor, this episode is a must-listen!
What You’ll Learn:
✔️ Why Michael invests in "blue cities" and how they can be profitable ✔️ Understanding market cycles and where we are in 2024 ✔️ Bridge debt: When to use it and when to avoid it ✔️ How job diversity impacts real estate investments ✔️ Growth markets vs. stable markets—where should you invest?
Episode Highlights:
[00:00:00] – Intro: Meet Michael Voulgarakis [00:02:30] – Investing remotely: How Michael manages properties across the country [00:08:15] – Market cycles: What history tells us about today’s economy [00:15:45] – The bridge debt debate: Risk vs. opportunity [00:24:10] – Why Michael invests in Seattle despite common misconceptions [00:30:00] – AI’s impact on real estate & future growth markets
Ways to Connect with Michael Voulgarakis:
Website: sreventures.com
Email: michael@sreventures.com
Work Phone: (206) 486-8930 (Ext. 3)
Cell Phone: (203) 829-1322
LinkedIn: https://www.linkedin.com/in/michaelvoulgarakis/
Visit www.skool.com/multfamilymasteryhub and fast-track your way to becoming a full-time real estate entrepreneur today!
Connect with Us:
Skool Community
Website
Facebook
Instagram
LinkedIn
YouTube
Support the Show: Enjoy our content? Share with your family and friends and anyone who will benefit with the insight we shared today. Leave us a review on your preferred platform to help us grow or any suggestion.
Join Our Community: Become a part of our exclusive Skool community, Capital Raising Mastery Hub. Get valuable resources, engage in discussions, and receive support for real estate entrepreneurs. Join Now! We are live!
Contact Us: For inquiries, guest appearances, or sponsorship opportunities, contact us at info@raisegenius.ai.



Wednesday Feb 26, 2025
From Corporate Grind to Marketing Machine: Jason Wright’s Investor Funnel Blueprint
Wednesday Feb 26, 2025
Wednesday Feb 26, 2025
In Episode 15 of the Stephen Lee-Thomas Show, we dive into the intersection of digital marketing and real estate investing with Jason Wright – a speaker, author, real estate investor, podcast host, and digital marketing expert.
Jason shares how he left the corporate grind to build a thriving digital marketing business, Intentionally Inspirational, and how his expertise in lead generation helps investors raise capital more effectively. He opens up about the struggles of early-stage capital raising, the power of marketing funnels, and how automation can transform your investor pipeline.
We also discuss how to educate potential investors, leverage self-directed IRAs for passive investing, and scale your capital-raising efforts through paid ads and content strategies. Whether you're just starting in real estate syndication or looking to take your business to the next level, Jason’s insights will help you avoid common mistakes and build a sustainable investor pipeline.
What You’ll Learn:
✅ Why capital raising is an education process, not a sales pitch✅ The importance of building an investor funnel before you have a deal✅ How to use digital marketing and automation to scale your network✅ Why self-directed IRAs are a powerful tool for passive investing✅ The role of paid ads (Facebook, LinkedIn) in reaching new investors✅ Jason’s personal journey from corporate America to financial freedom
Episode Highlights:
[00:00:00] – Introduction: Jason Wright’s journey from corporate to entrepreneurship[00:05:30] – The biggest mistakes real estate investors make when raising capital[00:12:15] – How to build an investor funnel and nurture relationships[00:20:40] – Using Facebook and LinkedIn ads to generate investor leads[00:29:10] – The power of self-directed IRAs for real estate investing[00:34:00] – Jason’s biggest lessons from entrepreneurship and marketing
Ways to Connect with Jason Wright:
Instagram: https://www.instagram.com/intinspodcast/
LinkedIn: https://www.linkedin.com/in/thejasonwright/
YouTube: https://www.youtube.com/channel/UCimr3WepHAUcJr-n9m9k4IA
Website: http://www.intentionallyinspirational.com/
Visit www.skool.com/multfamilymasteryhub and fast-track your way to becoming a full-time real estate entrepreneur today!
Connect with Us:
Skool Community
Website
Facebook
Instagram
LinkedIn
YouTube
Support the Show: Enjoy our content? Share with your family and friends and anyone who will benefit with the insight we shared today. Leave us a review on your preferred platform to help us grow or any suggestion.
Join Our Community: Become a part of our exclusive Skool community, Capital Raising Mastery Hub. Get valuable resources, engage in discussions, and receive support for real estate entrepreneurs. Join Now! We are live!
Contact Us: For inquiries, guest appearances, or sponsorship opportunities, contact us at info@raisegenius.ai.



Sunday Feb 16, 2025
Sunday Feb 16, 2025
In this episode of The Steven Lee-Thomas Capital Show, we break down why multifamily investing is the ultimate strategy for scaling your wealth—and why single-family rentals often leave investors stuck in a time-consuming, inefficient model.
🔹 Multifamily = A Scalable Business 🏢🔹 Single-Family = A Job That Traps You ⛓️
If you want consistent double-digit returns while leveraging professional management, apartment investing is the way to go. Stephen dives into economies of scale, passive investing benefits, and the cash flow quadrant to show why switching to multifamily is a game-changer for your financial freedom.
🔑 What You’ll Learn in This Episode:✔ Why single-family rentals keep you stuck in a self-employed cycle✔ How professional property management frees up your time✔ The economies of scale that make multifamily easier to manage✔ Why multifamily investing generates higher returns with less effort✔ How passive investors can earn 16–20% average annual returns
📌 Episode Highlights:[00:00:00] – Introduction: Single-family vs. multifamily investing[00:03:45] – Why multifamily is a business, not a side hustle[00:07:20] – The economies of scale that make apartment investing easier[00:10:15] – The cash flow quadrant: Moving from self-employed to investor[00:12:30] – Closing thoughts: Why multifamily is the fastest path to wealthWatch Full Video here:Youtube: https://youtu.be/U4u9-ceY_ugVisit www.skool.com/multfamilymasteryhub and fast-track your way to becoming a full-time real estate entrepreneur today!
Connect with Us:
Skool Community
Website
Facebook
Instagram
LinkedIn
YouTube
Support the Show: Enjoy our content? Share with your family and friends and anyone who will benefit with the insight we shared today. Leave us a review on your preferred platform to help us grow or any suggestion.
Join Our Community: Become a part of our exclusive Skool community, Capital Raising Mastery Hub. Get valuable resources, engage in discussions, and receive support for real estate entrepreneurs. Join Now! We are live!
Contact Us: For inquiries, guest appearances, or sponsorship opportunities, contact us at info@raisegenius.ai.



Wednesday Feb 05, 2025
Wednesday Feb 05, 2025
In this episode of The Stephen Lee-Thomas Show, breaks down the proven strategies to achieve double-digit returns in apartment investing. If your goal is financial freedom, understanding how to double your money in five years or less is key. Using the Rule of 72, explaining why traditional investments like savings accounts and the stock market might not be enough—and why multifamily real estate stands out as a high-return, lower-risk strategy.Learn how passive investors can earn 16–20% average annual returns and how deal sponsors can scale even faster. Also be sharing insights on choosing the right markets, property types, and value-add strategies to maximize returns.🔑 What You’ll Learn in This Episode:✔ How the Rule of 72 helps you calculate the time it takes to double your money✔ Why B & C class properties in high-growth markets provide the best returns✔ The key differences between passive investing and being a general partner✔ How to identify business-friendly, landlord-friendly markets for investing✔ The top U.S. markets for multifamily investing in 2024📌 Episode Highlights:[00:00:00] – Introduction: The power of apartment investing.[00:02:45] – Why traditional investments aren’t enough for financial freedom?[00:07:30] – Understanding the Rule of 72 and how to use it for investing.[00:12:15] – Passive investing vs. general partnership: Which is right for you?[00:16:30] – Closing thoughts and what’s next...Watch Full Video here:Youtube: https://youtu.be/9cE0ajTJSV0 Visit www.skool.com/multfamilymasteryhub and fast-track your way to becoming a full-time real estate entrepreneur today!
Connect with Us:
Skool Community
Website
Facebook
Instagram
LinkedIn
YouTube
Support the Show: Enjoy our content? Share with your family and friends and anyone who will benefit with the insight we shared today. Leave us a review on your preferred platform to help us grow or any suggestion.
Join Our Community: Become a part of our exclusive Skool community, Capital Raising Mastery Hub. Get valuable resources, engage in discussions, and receive support for real estate entrepreneurs. Join Now! We are live!
Contact Us: For inquiries, guest appearances, or sponsorship opportunities, contact us at info@raisegenius.ai.









