How do you close 2,500+ commercial real estate deals?

In this episode of Commercially Speaking, we sit down with Gary Martinez, CCIM, SIOR, industrial specialist, CI 102 instructor, and one of the most respected brokers in Southern California.

Gary shares:

• How he went from property manager to top 1% broker
• Why specializing changed his income trajectory
• The difference between fighting for business vs fighting for relationships
• The “Know, Like, Trust” mindset that built his career
• His Santa Fe Springs canvassing strategy (door-knocking an entire city)
• Why most brokers over-educate and lose trust
• How to read your client’s sophistication level
• And a brand-new Industrial Demand Gap Model that projects supply shortages years in advance

If you're a broker trying to scale, an investor analyzing markets, or a developer planning your next move, this episode will sharpen your edge.

📊 Want to see the Industrial Gap Model live? Watch the full episode on YouTube.

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And yes, Barbara Corcoran… we’re still waiting.

⏱ CHAPTERS

00:00 – 2,500 Deals and Still Learning

05:12 – From Property Manager to Broker

12:30 – Why Specializing Changed Everything

18:40 – Industrial vs Office vs Retail Personality Types

26:10 – Door Knocking an Entire City

35:20 – Capacity Utilization & Spotting Expansion

44:15 – Stop Chasing Deals

50:10 – The Know, Like, Trust Principle

58:30 – Over-Educating Clients (Big Mistake)

01:07:10 – The Industrial Gap Model Explained

01:25:00 – Forecasting Demand & Vacancy

01:35:20 – Negotiation Strategy in Tight Markets

01:43:00 – The Humility of Mastery

What do billion-dollar investors and donors actually care about?

It’s not your pitch deck.

It’s not your financial model.

And it’s definitely not your IRR slide.

In this episode of Commercially Speaking, we sit down with Greg Dugard, COO of Seder Grove Holdings, who previously helped raise over $5 billion during Notre Dame’s historic capital campaign.

Greg breaks down what he learned from raising billions, working with ultra-high-net-worth families, and now partnering with founders through permanent capital, a long-term investment approach that rejects forced exits, short-term incentives, and five-year flip cycles.

We explore:

• What investors actually look for before wiring money
• Why time horizons destroy more value than bad deals
• Permanent capital vs private equity and venture capital
• How misaligned incentives quietly ruin partnerships
• Why selling too early kills compounding
• The difference between IRR and long-term wealth creation
• How founders should evaluate partners before signing
• Why trust beats returns in the long run
• What “life’s work” really means for a founder

If you’re a founder, investor, or operator thinking about taking on capital, this conversation might save you years of regret.

🎧 Learn more about Greg & Seder Grove:

• https://sedergrove.com

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Thanks To Our Sponsors

• 💰🏙️ CRE Investor Coach: No Guess Work, No Wasted Time — https://cre-investor-coach.mykajabi.com/a/2148133410/9YMWzNXy
• 🤖 Superpowers HQ – Need a CRE executive assistant? Get one here: superpowershq.com/commerciallyspeaking

📺 Subscribe for more conversations about real estate, investing, leadership, and building things that last.

And Barbara Corcoran… permanent capital only. We’re ready.

00:00 – What Billion-Dollar Investors Really Want

Why numbers aren’t the point

04:10 – Raising $5B Without a Med School

How Notre Dame broke records

09:40 – Why Most Capital Destroys Value

The hidden cost of short time horizons

15:30 – What Permanent Capital Actually Means

No flips. No forced exits.

22:20 – Why Selling Too Early Is the Real Risk

The compounding everyone ignores

30:10 – IRR vs Multiple on Capital (MoIC)

Why IRR lies over long periods

38:40 – Incentives: The Invisible Hand

The tattoo founders should get

47:30 – Choosing the Right Capital Partner

Who you let around the table matters

55:50 – Trust, Talent, and Long-Term Thinking

How great companies are really built

01:05:30 – The Taylor Swift Story

Yes, this actually happened

01:10:40 – Advice for Founders Before Signing

What to know before taking money

⏱️ YouTube Chapters (Keyword-Optimized)

If you sell an investment property and want to defer taxes, a 1031 exchange is usually the answer.

But there’s a problem no one likes to talk about:

You only have 45 days to identify a replacement property.

That pressure often leads investors to overpay, settle for deals they don’t love, or rush into more active management when they were actually trying to slow down.

In this episode of Commercially Speaking, we sit down with Taylor Ashland, founder of Ashland Pacific, to explore Delaware Statutory Trusts (DSTs) as a 1031-eligible alternative.

DSTs allow investors to:

• ​Defer capital gains and depreciation recapture taxes
• ​Invest passively in institutional-quality real estate
• ​Avoid the 45-day scramble to identify a property
• ​Eliminate active management and tenant headaches

We break down:

• ​How DSTs actually work inside a 1031 exchange
• ​Why the 45-day window creates bad incentives
• ​When a DST makes sense (and when it doesn’t)
• ​Loss of control, lack of liquidity, and real risks
• ​How DSTs can be a full exit strategy or a “supporting actor”
• ​Why brokers don’t get paid on DSTs (and why that matters)
• ​The emotional side of money, taxes, and decision-making

This episode is not tax or legal advice. It’s a practical, honest conversation about options most investors don’t hear until it’s too late.

The information discussed in this podcast is for informational purposes only and does not constitute investment advice or an offer to buy or sell any securities. Investing in real estate and 1031 exchange replacement properties may not be suitable for all investors and may involve significant risks. All opinions expressed are those of the speaker and are subject to change without notice. Listeners should consult their own financial professionals before making any investment decisions. Ashland Pacific is a branch office of DFPG Investments, LLC. Securities offered through DFPG Investments, LLC. Member FINRA/SIPC. Investment Advisory Services offered through Diversify Advisory Services, LLC. Ashland Pacific is not affiliated with DFPG or Diversify.

Thanks To Our Sponsors

• ​💰🏙️ CRE Investor Coach: No Guess Work, No Wasted Time — https://cre-investor-coach.mykajabi.com/a/2148133410/9YMWzNXy
• ​🤖 Superpowers HQ – Need a CRE executive assistant? Get one here: superpowershq.com/commerciallyspeaking

🎧 Learn more about Taylor:

• ​https://shepherdingyourwealth.com
• ​https://ashpac.com
• ​Instagram: @taylordesmondashland

📺 Subscribe for more conversations on real estate, investing, negotiation, and buying back your time.

And yes, Barbara Corcoran… still standing by.

00:00 – The 45-Day Problem With 1031 Exchanges

Why rushed timelines force bad decisions

05:30 – Why Investors Overpay in 1031s

Incentives brokers love and sellers hate

10:40 – What Is a Delaware Statutory Trust (DST)?

Plain-English explanation

18:30 – How DSTs Qualify for 1031 Exchanges

Beneficial interests, not partnerships

27:00 – Passive Real Estate Without Management

No tenants, no toilets, no calls

34:45 – Loss of Control & Liquidity (The Real Risks)

Why DSTs are not for everyone

42:20 – Using DSTs as a Supporting Actor

Solving “boot,” debt replacement, and leftover equity

52:10 – Why Brokers Don’t Get Paid on DSTs

The incentives nobody explains

01:01:30 – Emotional Decision-Making in Investing

Why numbers alone aren’t enough

01:12:00 – Who a DST Is Actually For

Ideal scenarios and red flags

01:22:30 – Final Takeaways

More options, better decisions