Alec McElhinney runs LandPlay, a flex space development shop in central Texas. He started in industrial value-add. When cap rates compressed and interest rates climbed, he met someone at a conference doing flex space and ran the numbers. The margins held up at higher rates. He pivoted into development. 

Flex space is the hybrid that sits between warehouse and small office: roughly 10 percent office, 90 percent warehouse, bays of 2,000 to 4,000 square feet that can move with demountable walls...

Learning Through Experience & Final Thoughts

SPECIAL Beyond the Bank: Why Smart Investors Choose Real Estate Debt Funds

Real talk from an operator who learned real estate the hard way.Ed Mathews analyzed 1,100+ deals before buying his first property in 2011. Frozen in fear. He made every mistake, all while traveling 150+ nights a year working for some of Silicon Valley's top companies. 100+ deals later, he shares what actually works and what doesn't.Each week, Ed brings you candid conversations with experienced operators, investors, and syndicators. No hype. No theory. Just real deals, real lessons, and the street-level intelligence you won't find anywhere else.You'll learn and hear about:Deals that worked (and the ones that didn't)What we learned when contractors ghosted and we had to step inHow to vet opportunities when everyone else is sitting on the sidelinesConservative underwriting in markets that punish optimismSystems that protect capital when deals go sidewaysWhether you're analyzing your first deal or your hundredth, this is the conversation you'd have over coffee with someone who's been there, made the mistakes, learned the lessons and built the track record.New episodes every Tuesday at 12pm ET.