Billionaire's WARNING: The Housing Market Will NEVER Be The Same (Do THIS Now)

OpusClip: Start clipping at https://opus.pro/ich Gusto: Try Gusto for FREE for 3 months at https://gusto.com/ICED Upwork: Post your job free at http://upwork.com/COFFEE and connect with top talent to grow your business. Shopify: Stop waiting for permission to build something. Your next revenue stream starts free at https://shopify.com/ich FanDuel: Every Goal Matters! Visit https://fanduel.com to get started Follow Richard Baker Here: https://www.instagram.com/baker_house1921/ *𝗖𝗢𝗡𝗡𝗘𝗖𝗧 𝗪𝗜𝗧𝗛 𝗨𝗦* 𝗜𝗚: https://www.instagram.com/icedcoffeehour 𝗝𝗔𝗖𝗞: https://www.instagram.com/jlsselby 𝗚𝗥𝗔𝗛𝗔𝗠: https://www.instagram.com/gpstephan 𝗖𝗹𝗶𝗽𝘀 𝗖𝗵𝗮𝗻𝗻𝗲𝗹: https://www.youtube.com/c/TheIcedCoffeeHourClips 𝗫.𝗰𝗼𝗺: https://x.com/TheICHpodcast 𝗧𝗶𝗸𝗧𝗼𝗸: https://www.tiktok.com/@theicedcoffeehour 𝗦𝗽𝗼𝘁𝗶𝗳𝘆: https://open.spotify.com/show/5c2uoXBQkOjIiCOf60jJj7 𝗔𝗽𝗽𝗹𝗲: https://podcasts.apple.com/us/podcast/the-iced-coffee-hour/id1515070058 For sponsorships or business inquiries reach out to: [email protected] Apply for The Index Membership: https://entertheindex.com/ For Podcast Inquiries, please DM @icedcoffeehour on Instagram! 00:00:00 - Intro 00:01:08 - The $1.1 Billion Insight: Buying Dying Retailers for Their Real Estate 00:02:54 - Developer vs. Investor: A Different Way To Think About Real Estate 00:04:19 - The No-Money-Down Playbook: Creating Value Before You Close 00:06:29 - "Get Out of Your Room": Why Hustle Beats Google Maps 00:07:33 - Where To Meet the People Who Make These Deals Happen 00:08:48 - Is This Only for Veterans & Insiders? The "Average Person" Debate 00:10:38 - Real Estate Inefficiency & the Long Island House That Was Underpriced 00:12:54 - The Buy Box: Becoming an Expert in One Neighborhood 00:15:49 - The Great Wealth Transfer: Aging Owners & Off-Market Jewels 00:16:50 - Is Getting Wealthy Just an Effort Problem? 00:17:43 - How He Pitches Sellers & Structures Refundable Deposits 00:18:00 - Sponsor: OpusClip 00:19:15 - Start Small: Is This Harder To Do in 2026? 00:23:53 - The Billion-Dollar German Department Store Flip 00:25:58 - Buying Lord & Taylor With Almost No Money 00:28:48 - The Whiteboard Trick: Splitting OpCo and PropCo 00:32:41 - Sponsors: Gusto & Upwork 00:35:17 - Explaining Hudson's Bay & the $500M Bet From Abu Dhabi 00:40:31 - The Zellers Bidding War: Playing Walmart Against Target 00:46:22 - How Much Did He Actually Make? & the Net Worth Mystery 00:47:42 - Conviction & the "Reality Distortion Field" 00:49:11 - What He Owns Now & Smart Debt vs. Dumb Debt 00:50:51 - Where the Economy Is Headed & Debating Jeremy Grantham 00:53:37 - The University Housing Play & Betting on Top Schools 00:54:23 - Politics, Mamdani & Whether the Rich Give Back Enough 00:57:09 - Is the Housing Crisis a Money Problem or a Spending Problem? 01:02:09 - Diversification vs. Concentration 01:04:15 - The $200M Loss on Guilt & Failing Small 01:05:06 - Sponsors: Shopify & FanDuel 01:07:35 - The Largest Amount He's Ever Lost 01:09:28 - Massive Net Worth Swings & Keeping Life in Perspective 01:11:51 - Nature or Nurture? Office Hours & the Nepotism Charge 01:14:56 - Knowledge vs. Access & Talking to Claude Two Hours a Day 01:15:45 - Negotiation Secrets: Overpaying, Overselling & Knowing the Other Side 01:18:41 - Stalking Deals for Years & Why It Can't Be a Commodity Asset 01:21:37 - The Biggest Mistake the Average Person Is Making 01:23:31 - Individual Choices vs. the Economy & Raising Driven Kids 01:25:04 - The Exact Steps To Become a Real Estate Entrepreneur 01:25:58 - Why He Closes 99.9% of His Deals 01:28:24 - The Cornell Baker House Project 01:31:10 - The Ego Trap: Why Successful People Stop Taking Risks 01:32:10 - What To Optimize For Next & Where His Drive Comes From 01:33:26 - Tiers of Wealth: Private Jets, Economy Flights & Spending on Value 01:36:21 - The Cessna Story: Using Bigger Planes To Motivate Bigger Deals 01:39:47 - What Money Means & The Best Things To Spend On 01:41:16 - The Science of Spending for Happiness (Quiet Homes & Short Commutes) 01:42:47 - The Coming Entrepreneur Revolution & Opportunities for Women 01:46:06 - His Grandmother's 1921 Immigrant Real Estate Story 01:47:48 - The Harshest Truth About Money 01:49:03 - The Power of Yes: Marriage Advice After 30 Years 01:53:19 - Gratitude Rituals & Is There Such a Thing as Too Much Money? 01:54:42 - When He Felt Richest (And Why It Was Depressing) 01:56:16 - Wrap-Up *Some of the links and other products that appear on this video are from companies which Graham Stephan & Jack Selby will earn an affiliate commission or referral bonus. Graham Stephan & Jack Selby are part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Learn more about your ad choices. Visit podcastchoices.com/adchoices