#168 - How Smart Investors Vet Real Estate Deals Together with Larry Lemer and Mark Goldstein

Join us on October 8–9, 2026, in Las Vegas, Nevada for the first-ever Passive Income Pilots Conference. Learn how to build smarter wealth beyond the cockpit: https://www.passiveincomepilots.com/pip-conference Tait Duryea and Ryan Gibson sit down with Larry Lemer and Mark Goldstein of Foliage to examine how a community of accredited investors approaches commercial real estate together without pooling money or making investment recommendations. They cover Foliage’s syndicator vetting process, its extensive due diligence questions, operator trust and execution, portfolio diversification, and lessons learned from deals that did not go as planned. For pilots and high-income professionals considering alternative investments, the conversation shows how surrounding yourself with experienced investors can bring additional perspectives to your own decision-making. Larry Lemer and Mark E. Goldstein are co-founders of Foliage, a private investor education group that brings together accredited investors, including airline pilots, to evaluate commercial real estate opportunities. Larry brings roughly 20 years of real estate investing experience, while Mark draws on his corporate leadership and private equity background. Together, they emphasize rigorous due diligence, trusted operators, and the value of learning from a network of experienced investors. Show notes:(0:00) Passive Income Pilots Conference announcement: https://www.passiveincomepilots.com/pip-conference (1:03) How Foliage vets syndicators(5:23) How the group started(9:11) Value of diverse investor perspectives(14:05) Foliage is not a fund(18:10) Education through the syndication playbook(18:47) Case for alternative assets(22:19) Lessons from investing mistakes(25:01) Understanding deals and trusting operators(30:38) Red flags when vetting syndicators(40:44) Outro Connect with Larry Lemer and Mark Goldstein:Website: https://www.foliageig.com/ Larry’s email: larry@foliageig.com Larry’s LinkedIn: https://www.linkedin.com/in/larry-lemer-0503aa5/  Mark’s LinkedIn: https://www.linkedin.com/in/mark-goldstein/ Link to their Book: https://amzn.to/4rxzrn9  If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry. Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilots Check us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/ Do you have questions or want to discuss this episode? Contact us at ask@passiveincomepilots.com  See you at the next one! *Legal Disclaimer* The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.