Beyond Stocks

SummaryIn this conversation, Chihiro and guest David Kotter delveinto the concept of hybrid debt funds, exploring their structure, benefits, and the unique opportunities they present for accredited investors. David explains how these funds blend traditional debt with equity upside participation, offering developers a simplified capital stack while retaining depreciation benefits. The discussion covers the criteria for borrower selection, the investment structure of the fund, and the associated risks in commercial real estate. David emphasizes the importance of timing and discipline in lending decisions, as well as the focus on specific asset classes. The conversation concludes with insights on future growth and the potential for investors to achieve attractivereturns. Sound bites"We take 30 to 35% of the upside economics.""We project 11 to 13% net IRR for investors.""Discipline in lending decisions is essential." TakeawaysHybrid debt funds offer a blend of debt and equityparticipation.Developers benefit from simplified capital stacks andretained depreciation.Borrowers must have a proven track record and financialstability.Closed-end funds provide stability and predictability forinvestors.Investors can expect 11-13% net IRR with downsideprotection.The fund focuses on multifamily, industrial, and strategicretail assets.Timing and market cycles are critical in commercial realestate investing.Discipline in lending decisions is essential to avoid marketpitfalls.Investors should understand the risks associated withcommercial real estate.The fund aims for growth and future fund offerings. Chapters00:00 Introduction to Hybrid Debt Funds03:05 Understanding the Hybrid Debt Fund Model06:09 Benefits for Developers and Borrowers08:57 Criteria for Borrower Selection11:59 Investment Structure and Fund Details14:50 Navigating Risks in Commercial Real Estate18:01 Asset Classes and Market Focus21:00 Fund Operations and Investor Returns24:00 Future Plans and Fund Growth26:54 Philosophical Insights on Market Cycles KeywordsHybrid Debt Fund, Commercial Real Estate, InvestmentStrategies, Accredited Investors, Real Estate Financing, Debt Funds, Investment Opportunities, Risk Management, Fund Structure, Market Cycles

SummaryIn this episode of Beyond Stocks, host Chihiro Kurokawa interviews Garland Benton from Direct Equity Source, who shares insights into the self-storage investment sector. As with many asset classes, in an industry of this size, not all self storage facilities are the same. Garland's firm specializes in Class-A self storage, meaning newly-built facilities with features like climate control and technology amenities. By contrast, Direct Equity Source doesn't do value-add or conversion projects intended to make improvements to existing facilities. Their business model involves raising capital for new self-storage developments, and selling those assets to nationally recognized brands such as Public Storage or CubeSmart. As the capital partner for a developer called AAA, Garland's job is to find investors to help fund these projects. TakeawaysSelf-storage is a strong investment sector due to its resilience during economic downturns.Direct Equity Source's model involves significant sponsor investment, aligning interests with investors.The company focuses on building Class A facilities to attract institutional buyers.Investors receive a 12% annual fixed dividend, providing consistent returns.Market saturation is a key risk in the self-storage industry, requiring careful site selection.The fund structure allows for diversification across multiple properties.Garland emphasizes the importance of understanding past performance when evaluating investment opportunities.The company has a strong geographic focus on Texas, with plans for expansion in other states.Investors have liquidity options after a 24-month hold period, unlike traditional syndications.The self-storage market is expected to benefit from reduced new construction in the coming years.Chapters02:45 Understanding the Investment Model05:18 The Resilience of Self-Storage in Economic Downturns08:27 Diversification and Fund Structure11:02 Market Dynamics and Consumer Behavior14:03 Building Class A Facilities16:47 Liquidity and Investor Returns19:25 Risks and Market Saturation22:19 Geographic Focus and Growth Areas25:09 Conclusion and Investor Engagementself-storage, real estate investment, private equity, economic resilience, investment model, diversification, market dynamics, liquidity, investor returns, risk management

A conversation with Haroon M. Cheema, a seasoned international tax attorney, discussing the complexities of cross-border taxation, investment structures, and tax incentives. He's done many deals, so he has thoughts on what you should look out for when considering an investment. Haroon shares his journey from New Jersey to Dubai and back, offering valuable insights into the world of international tax law. Takeaways:Investment structures can significantly impact tax outcomes.Tax incentives vary greatly by jurisdiction.Understanding tax treaties is crucial for international investments.Legal and financial expertise is vital in tax planning.Tax credits are generally more valuable than deductions.Entity structure affects tax liabilities and benefits.Due diligence is essential in tax-related transactions.AI can assist in finding primary tax sources but not in analysis.Tax law is constantly evolving, requiring continuous learning.

In this episode of the Beyond Stocks show, Chihiro Kurokawa interviews Cory Rodriguez, a crypto and Bitcoin mining expert. They discuss the evolution of mining technology, the unique business model of NFN8, and the competitive landscape of Bitcoin mining. Cory explains the risks associated with Bitcoin mining investments and how NFN8 mitigates these risks through strategic power contracts and innovative technologies like immersion mining. The conversation also touches on the finite nature of Bitcoin and the future of mining operations.NFN8 started in a garage and has evolved into a significant player in Bitcoin mining.The technology for Bitcoin mining has drastically improved, with hash rates increasing significantly over the years.NFN8's business model focuses on leasing supercomputers to accredited investors for Bitcoin mining.Bitcoin mining is primarily focused on Bitcoin, with institutional miners largely avoiding other cryptocurrencies.The competitive landscape includes both large institutional miners and smaller operations like NFN8.Bitcoin mining is a finite process, with the last Bitcoin expected to be mined by 2140.Risks in Bitcoin mining include fluctuating electricity prices and natural disasters.Emerging technologies like immersion mining are becoming more affordable and efficient for Bitcoin mining operations.Chapters00:00 Introduction to Crypto Mining and NFN803:58 Evolution of Mining Technology06:43 Business Model of NFN809:49 Bitcoin Mining Landscape16:21 The Finite Nature of Bitcoin Mining18:27 Risks and Mitigation Strategies26:21 Emerging Technologies in Mining31:56 Investment Opportunities and Closing ThoughtsBitcoin, crypto mining, NFN8, investment, technology, business model, immersion mining, risks, competition, cryptocurrency

In this conversation, Chihiro interviews James Wang from Mimosa Ventures, exploring his journey into venture capital, the differences between angel investing and venture capital, and the current state of the VC ecosystem. They discuss the impact of AI on various industries, particularly healthcare, and the future of AI technology. James emphasizes the importance of strategic partnerships in investment and the challenges in today's VC market due to economic uncertainties.TakeawaysJames Wang has a diverse background in finance and venture capital.Understanding the stages of startup funding is crucial for founders.Angel investing focuses on very early-stage companies, while VCs invest in more established startups.The VC ecosystem is currently facing challenges due to a lack of exits.Economic uncertainty affects investment decisions and valuations.Smaller VCs can find unique opportunities in local markets.AI is revolutionizing industries but has limitations in reasoning and intelligence.Practical applications of AI can significantly improve efficiency in healthcare.The future of AI may involve new business models and payment systems.Investors should seek strategic partnerships that add value beyond capital.00:00 Introduction to Venture Capital and James Wang03:05 Understanding Investment Stages: Seed to Series A04:28 Angel Investing vs. Venture Capital09:17Current State of the VC Ecosystem10:57 Market Forces Behind Lack of Exits12:52 Emerging VCs and the Power Law14:50 The Impact of AI on Venture Capital19:20 Limitations and Misconceptions of AI22:24 The Future of AI and Its Business Models27:31 Final Thoughts on Venture Capital and AIKeywords: venture capital, angel investing, startup funding, AI impact, investment strategies, market trends, VC ecosystem, seed funding, Series A, technology investments

In this conversation, Pedro De Leon asks Chihiro Kurokawa for the details from his journey in multifamily investments, discussing the reasons behind his choice of this asset class, his first experiences, and the current state of the market. He highlights the challenges faced in today's multifamily landscape, including rent growth and tenant demand, and offers predictions for the future of the market. Chihiro also emphasizes the importance of demographics in investment decisions and shares valuable lessons learned from his experiences in the field.TakeawaysLong-term demographics for multifamily are positive due to housing demand.Building more housing is essential to address affordability issues.Networking and mentorship are crucial for success in multifamily investing.The current market shows distress with declining rents and increased supply.Investors are experiencing reduced distributions and some have lost equity.Future predictions indicate more distress in the multifamily market ahead.Chihiro thinks cap rates will expand further before valuations improve.Opportunities exist in markets with strong demographic growth.Experience is invaluable and cannot be boughtChoosing the right partners is critical in multifamily investments.Chapters03:10 Chihiro's Journey into Multifamily06:03 Current Market Conditions and Challenges08:58 Future Predictions for Multifamily Investments11:45 Identifying Opportunities in Multifamily14:47 Lessons Learned and Advice for New Investors17:49 Conclusion and Upcoming Beyond Stocks Workshop in DFWKeywordsmultifamily investments, real estate, market trends, investment strategies, housing demand, economic factors, rental market, property management, investment opportunities, financial distress

In this episode of the Beyond Stocks Podcast, Pedro and Chihiro dive into the world of Private Credit — exploring how it has evolved since the Great Recession of the late 2000s and what investors need to watch out for today.After 2008, new regulations forced traditional banks to tighten lending standards. This opened the door for private lenders to step in, offering loans to borrowers deemed too risky or undesirable for banks. While private credit has exploded in popularity, it also comes with fewer transparency requirements - leading some to consider it a financial black box. Jamie Dimon recently commented that private credit could be a "recipe for a financial crisis."Pedro and Chihiro ask the big questions: Could a downturn in private credit trigger systemic risks similar to 2008? Or has the market matured enough to handle stress without collapsing?Whether you’re new to alternatives or a seasoned investor, this episode will help you understand the opportunities and risks of private credit in today’s market.How private credit emerged after the Great Financial Crisis (GFC)The similarities and differences between 2008 subprime lending and today’s private credit boomWhy private credit portfolios can be opaque and difficult to evaluatePotential risks if widespread loan deterioration were to occurHow accredited investors should think about private credit allocation and due diligenceLearn more about us at www.beyond-stocks.comIf you found this episode helpful, subscribe to Beyond Stocks, leave us a review, and share it with someone curious about investing beyond Wall Street.

What You'll LearnIn this episode of the Beyond Stocks Podcast, we sit down with Nic Espanet — multifamily investor, syndicator, and host of the FLEX Forward Podcast. Nic shares his journey from being a passive investor to leading large multifamily syndications, managing thousands of doors, and helping people invest as Limited Partners into commercial real estate.If you’ve been curious about how to get started in multifamily investing, the challenges syndicators face, or what it takes to scale from a few units to thousands, this conversation is for you.Whether you’re an accredited investor looking for passive income or an aspiring syndicator aiming to build your own portfolio, Nic’s story and strategies will give you the insights to move forward with confidence.How Nic transitioned from passive investor to multifamily syndicatorThe mindset shift required to manage thousands of multifamily unitsWhat every first-time investor should know before wiring money into a dealKey lessons from Nic's journey to becoming a professional investorWhy building strong partnerships is the cornerstone of success in real estateNic’s perspective on the future of multifamily investing and where the best opportunities may beConnect with Nic Espanet: LinkedIn | FLEX Forward Podcast Learn more about Beyond Stocks: beyond-stocks.comIf you enjoyed this episode, please subscribe to Beyond Stocks, leave us a review, and share it with a friend who’s ready to start investing beyond Wall Street.

Most investors have heard Buffett's expression about being greedy when others are fearful. But knowing it and doing it are entirely different. John Bullman is the Chief Investment Officer at LGT Financial Advisors, and he has decades of investment experience including 15 years at a leading family office. This discussion was packed with brilliant insights including John's thoughts on whether we currently have more inflationary or deflationary pressures; a story about how he and his team were rewarded for having the guts to go big after being clobbered (along with everybody else) during the Great Recession. Beyond Stocks is the premier podcast and community for people who want to go beyond stocks, bonds and mutual funds to invest in alternative assets. It's time to get out from under Wall Street!

Jared Benson with Clotine Capital is our favorite kind of investor. He started with a regular job like most other people, but at the young age of 25 he made his first investment into a private offering. He's also tried his hand in multiple businesses as an entrepreneur but wisely concluded that he should only create and run businesses that are in his area of expertise. This mindset allowed him to reach accredited investor status at a young age. Today, he's focused on making his money grow for him through a variety of private investments. Jared also discusses good and bad deals and the lessons learned.

Keith Blackborg and his wife Jessica did well with their businesses and real estate investing, but they eventually faced existential questions like "Why are we still doing this?" They sold their assets and took a three year vacation, after which they formed Financial Journey. FJ serves self-directed millionaires who learn about wealth creation, wealth preservation, investments and tax strategy. Along they way they have fun through retreats and other events that foster a sense of community and giving.

Today our guest is Jeff Murphy from North Texas Angel Network. NTAN is a network of dozens of accredited investors who invest in early stage startups. They regularly meet in Dallas Fort Worth to listen to pitches from startups that are raising capital. The group setting helps investors consider outside viewpoints before making an investment. If you think you need to have millions in investable cash to be an angel investor, you're wrong! Listen in to get the details. Beyond Stocks is brought to you by Pedro De Leon, Jr. and today's host, Chihiro Kurokawa. Our goal is to educate high income earners and business owners about how to invest into alternative assets without going through Wall Street.

A lot of people have the means but not the awareness to invest outside of the traditional system of stocks, bonds, mutual funds, asset managers, financial advisors etc. What if you could learn about how people invest directly into projects, cutting out all those middlemen? Pedro and Chihiro also do some mythbusting when it comes to the tax benefits often touted by commercial real estate syndicators!Pedro De Leon, Jr. and Chihiro Kurokawa are hosts of Beyond Stocks, a community of people interested in learning about how to invest outside of the traditional financial system. Learn more at www.beyond-stocks.com

Did you know that the United States is the world's leading oil producer? The #2 producer (Saudi Arabia) produces less than half of what the US does. With energy being such a large part of the US economy, it's no wonder that there are many private investment opportunities in oil.Tim Pawul is an expert in oil investing, and he shares his tremendous knowledge including red flags to look out for if you're considering an investment! He also hosts the Minerals and Royalties Podcast, which is an authoritative source of knowledge. Listen in to learn a few things about oil & gas minerals and royalties.Beyond Stocks is hosted by Chihiro Kurokawa and Pedro De Leon, Jr. Our mission is to educate high income earners on how to invest in alternative assets beyond stocks, bonds and mutual funds.

In this episode, Pedro and Chihiro discuss an important consideration for people new to alts. Active investing is a job. Whether it's a stock trading strategy, buying a business through ETA or running a commercial real estate deal, it's a major time and capital investment and significantly riskier than passive investment. For these reasons, active investing isn't suitable for most people. We go into detail on the pros and cons around active and passive investing.At Beyond Stocks, Pedro De Leon Jr. and Chihiro Kurokawa are on a mission to create a community where people can learn about building wealth through private alternative investments in assets that go beyond stocks, bonds and mutual funds.

Days ago, Bill Alpert of Barron's published an article claiming that by the end of 2026, Americans may have broad access to Alts through IRAs and 401ks. We discuss topics such as:Will offerings be limited to mega asset managers or will smaller-scale offerings be available?What will fee structures look like?How will this reconcile with Required Minimum Distributions (RMDs) in light of the illiquid nature of alternative investments?Learn more by signing up for our newsletter at www.beyond-stocks.com

Chihiro and Pedro like to attend and host in-person events in Dallas-Fort Worth. When we host, we are thoughtful about who we invite, and our events are not open to the public. But last week, that guy showed up and he had a me-first mentality, seeking capital for his business. We won't invite him again, but this brings up the question, what's the right way to network? It's pretty simple - you can't go wrong as long as you lead with value ( ask yourself "What can I do for this person?").We also discussed who we're trying to help. Our target audience is people who have capital to put to work and know there's something out there beyond traditional investments that can benefit their investment portfolio. If you want to learn more , DM us on LinkedIn, Instagram or Facebook!Pedro De Leon, Jr. and Chihiro Kurokawa are on a mission to educate high income earners on the world of alternative investments through private offerings.

The thing about alt investments is that they are generally found through private offerings. By definition, they're harder to find than stocks on Robin Hood or E-Trade. So how do you find them?Well, you can start by joining the Beyond Stocks journey to learn what to look for, and what kind of deals are available. Our goal is to let the world know that there's a whole new world of investments out there beyond traditional assets like stocks, bonds and mutual funds. Check out this episode to hear our thoughts on how to get in the game, as well as a discussion on a current business investing trend called Entrepreneurship Through Acquisition ("ETA"). Pedro De Leon, Jr. and Chihiro Kurokawa are on a mission to educate high income professionals and business owners about how to grow wealth through alternative investments.

What are Alts??? In short, traditional investing refers to well-known financial instruments such as stocks, bonds, ETFs, mutual funds. Alts are everything else! Categories of Alts include business investing (private equity), commercial real estate, crypto, commodities, non-bank lending (private credit) and more.Pedro & Chihiro are motivated to spread the word about Alts (particular through private offerings) because they can be a powerful way for people to build wealth via unique investments that aren't widely available. Please subscribe to our newsletter at www.beyond-stocks.com

James Ellis is the CEO of Arundel Group Holdings, a vertically integrated firm that designs, engineers and builds commercial real estate.James has over 4 decades of experience so he has learned what does and doesn't work in real estate development. Hear stories such as: How building on a former landfill led to a business losing $1 million per week! Conducting a Phase 1 Environmental Study can lead to learning things about your land that you didn't want to learn.The risks, time and money it costs to be a general partner in a deal.Chihiro Kurokawa and Pedro De Leon, Jr. are your hosts of the Beyond Stocks Show. Beyond Stocks is your inside track to alternative investing. We help high income earners learn about investing in assets beyond stocks and bonds.

In Season 1 Episode 10 last week Pedro and Chihiro talked about finding somebody who has invested in Personal Seat Licenses. Well, we found Thien Bui! He has an inspiring immigrant story and shares how he went from being a schoolteacher to starting an energy business. He grew FirstClassUtilities.com from scratch into a seven-figure business and uses that income to invest into a variety of private offerings such as multifamily and personal seat licenses.Thien shares how he started by owning seats at AT&T Stadium where the Dallas Cowboys play, and how he is now an investor in Sunset Amphitheatre in McKinney, Texas which recently broke ground. Pedro De Leon Jr. and Chihiro Kurokawa are two guys with a passion for alternative investments. We think that investing in assets other than stocks and bonds is a great way for people to build wealth.

Last week we:1. Attended a public hearing for The Sunset Amphitheatre, a 20,000 seat live music venue that just broke ground in McKinney, Texas. We attended because it's an exciting development for our city, but also because they're offering an interesting investment wherein people can buy permanent tickets to firepit suites. They can sell tickets they don't personally use in order to earn a profit. 2. We attended an event hosted by Owners in Honor, a nonprofit that provides a supportive community to military veterans interested in becoming business owners via the "Entrepreneurship Through Acquisition" model. The idea with ETA is to mitigate business startup risk by buying an existing business. Chihiro Kurokawa and Pedro De Leon, Jr. are your hosts for the Beyond Stocks show. Our goal is to provide the premier podcast and community for accredited investors interested in growing their wealth through investments other than stocks and bonds.

Pedro and Chihiro discuss a recent report from JP Morgan (linked below) and focus on two themes in particular. 1. The persistent US housing shortage will create investment opportunities. While we agree about the long term, there's still potential for significant short term capital displacement particularly in office and multifamily as a correction may be ongoing. Also, building affordable housing is always a challenge due to NIMBYism.2. Investing in businesses may be on the rebound based on the inflection point in yearly IPO volume, as well as improving valuation multiples. Of course, at Beyond Stocks we're fans of investing in businesses via private offerings as opposed to the stock market. JP Morgan blog post: https://www.jpmorgan.com/insights/investing/investment-strategy/alternative-investments-in-2025-our-top-five-themes-to-watchChihiro Kurokawa and Pedro De Leon Jr. are regular dudes who love investing in and learning about alternative assets. We bring you authentic discussions and industry experts to help people understand that wealth can be built outside of investing in stocks and bonds.

Ron Glasgow is a Certified Financial Planner and founder of GlasgowInvestments.com. We brought him on the show to discuss how many of his clients diversify into alternative investments via Delaware Statutory Trusts. DSTs are vehicles for passive investment that provide many of the tax benefits of direct, active real estate investing, without having to be a landlord! For example, DSTs can accommodate 1031 exchanges, a powerful tax deferral strategy. Learn more at www.GlasgowInvestments.com.Pedro De Leon, Jr. and Chihiro Kurokawa have seen the data! We know that alternative investments are an important wealth-building opportunity in the years to come. We want to share our thoughts and bring on experts to let you know that Alt Investments are the way to go!

Pedro & Chihiro speak with Dan Olsen, who provides CFO services through his company NOW CFO. He has years of transactional experience and has seen great deals and terrible deals! His insights are valuable for people considering an investment in a deal that involves any mergers or acquisitions. If you're buying a company you need somebody like Dan on your team, and if you're investing in a merger or an acquisition, the operator needs somebody like Dan on their team!Learn from an experienced CFO what red flags he's seen, and what makes a great business that maximizes its sale value.Pedro De Leon, Jr. and Chihiro Kurokawa are your hosts of the Beyond Stocks show. They're a couple of regular dudes who want to show you the world of alternative investing. Building wealth goes far BEYOND STOCKS!

Pedro and Chihiro get together to discuss:- Recent new guidance from the SEC that can make it easier for certain types of people to invest- Why Pedro and Chihiro got interested in alternative investments- What an accredited investor is, and why it mattersPedro De Leon, Jr. and Chihiro Kurokawa are alternative investors and regular guys who are on a mission to educate and connect alternative investors through the Beyond Stocks platform which can be found at www.Beyond-Stocks.com

Wouldn't it be great if you could talk to a tax expert about what to look for and what to avoid as an alternatives investor? We got a chance to do that with Vince Porter, the CEO of Porter & Company CPAs. Many don't realize that CPAs are specialized, and if you're a Limited Partner ("LP") in private offerings you shouldn't just go to any CPA just as you wouldn't go to an orthopedic surgeon for a respiratory infection. Not all CPAs are well-versed in partnership accounting!Vince discusses what simple questions to ask your CPA to make sure they have the right background to maximize tax benefits. He also discusses some unfortunate recent deals that ended up victimizing their investors.Chihiro Kurokawa and Pedro DeLeon, Jr. are your hosts of the Beyond Stocks Show, where two regular guys bring you experts and practitioners from the alternative investing world. Our goal is to educate investors on how to build wealth by investing in alternative assets, by going Beyond Stocks, bonds and 401ks.

Alexia and her husband Chris have run Tuttle Nutrition for over ten years, building on their bodybuilding experience to providing coaching and lasting health transformations. Alexia is also the founder of Tuttle Equity, through which she has acquired and transformed multifamily properties. Additionally, she has founded a flavored water brand called Drink MOR in addition to leading nonprofits and co-hosting the Real Estate Players Podcast. Find out more about her at www.tuttlebrands.com. Alexia shared with us how her success has been built one relationship at a time, through education and being patient with her potential investors. Connect with us at www.beyond-stocks.comPedro De Leon, Jr. and Chihiro Kurokawa are regular guys on a mission to generate greater awareness about alternative investments. Listen in to learn how there's an entire world of opportunities beyond 401ks, stocks and bonds!

Yes, opening up a business is an alternative investment! Evelyn Zermeño has over a decade of experience lending to businesses. Bank debt is the ultimate enabler. Without business loans it's much more difficult for entrepreneurs to start, buy or expand businesses. Business owners need somebody like Evelyn to help them complete the steps necessary to get a loan approval so they can get on with being an entrepreneur! Banking expert Evelyn Zermeño provides valuable lessons for both current and aspiring business owners.Connect with us at www.beyond-stocks.comChihiro Kurokawa and Pedro DeLeon, Jr. are the hosts of Beyond Stocks, which is a platform for learning how to go beyond a 401k, stocks and bonds to invest in alternative assets.

Drew Wahlgren is a Vice President with MAG Capital Partners, which invests in industrial real estate. Their tenants are steady businesses in industries like manufacturing and logistics, which can have desirable characteristics such as great capital structures, resilient cash flows and long histories of steady performance. Once potential tenants make it through MAG's due diligence process, MAG will buy the real estate and become their landlord. This frees up money for the tenant, while creating a predictable cash flow for MAG. This type of transaction is called a sale leaseback. Learn from Drew as he explains how people can invest passively in these types of deals.Pedro De Leon Jr. and Chihiro Kurokawa are regular guys who invest in Alts, which are investments other than traditional stocks and bonds. They share their passion with the world via www.Beyond-Stocks.com.

We talked to Rick and Crystal Rumer of Texas Secured Land Notes chat about why Notes are the GOAT! Learn how they buy raw land in bulk, then sell it in smaller parcels. Then, TexasSecuredNotes brings in an accredited investor like you to provide the debt financing to the landowner. You earn monthly passive income on the capital you lend. The loan is secured by the land, so you have collateral. Contact Rick and Crystal at www.TexasSecuredNotes.comConnect with us at www.beyond-stocks.comYour hosts Pedro De Leon, Jr. and Chihiro Kurokawa provide insights and down-to-earth conversations with alternative investing experts. Our goal is to share the world of building wealth through investing Beyond Stocks.