Real Estate Underground
Real Estate Underground
Ed Mathews
Real Estate Hustle vs. Real Estate Business with JB Thibodeaux
42 minutes Posted May 26, 2026 at 4:00 pm.
Cold open: "Gurus teach you doors, not business"
Welcome to Real Estate Underground
Guest intro: JB Thibodeaux, Houston builder
Third-generation tradesman + Duplex King of Houston
Concept-to-keys: pocket development model
Build-to-sell vs. build-to-hold (the 60/40 split)
Houston: no zoning, but deed restrictions
Duplex math + the house-hacking exit
Build for yourself vs. develop for clients
Anti-guru ethos + the Thibodeaux Foundation
Sometimes the best deal is no deal
Operational leverage and picking your spots
Lightning round: what is purpose?
Daily reset, ownership, and Extreme Ownership
Book recommendation: The Miracle Morning
Hustle vs. Business: the reframe
Property management as a discipline ("it's not personal")
Life outside real estate
Where to find JB online
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42:15
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Show notes
JB Thibodeaux grew up in Acres Homes in Houston and is a third-generation carpenter and concrete specialist who turned that craft into a vertically-integrated real estate development business. His firms, J.B. Thibodeaux Homes & Properties, CCB Construction LLC, and CCB General Contractors LLC, have led over $100 million in projects across mass development, pocket development, and affordable housing infill. This year, the Houston market crowned him the "Duplex King." In this episode, Ed an...