Episode
380. Graham Stephan Just Made the Case for Commercial Real Estate
- Published
- May 18, 2026
- Duration seconds
- 2469
- Processing state
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- https://www.tylercauble.com/podcast/episode380
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Summary
Core Concept Graham’s move: He’s selling all his LA residential rentals because of: Heavy regulation (3-year eviction moratorium, rent freezes) Extreme bureaucracy (permits, inspectors, delays) Weak returns (~ 4–5% on equity ) vs. other investments ADU “nightmare” example: Built an ADU and got stuck in: Multiple failed inspections with shifting requirements Forced $22k sewer repair , sidewalk and tree-root work 60–75+ day delays for permits and tenant notices Result: months of delay, extra cost, lost tenant, high stress. Tyler’s core thesis: This story doesn’t kill real estate; it kills small residential in high-reg markets . It actually makes the case for commercial real estate : Fewer tenant-protection politics More contract-driven, business tenants Better return vs. headache trade-off, especially in middle-market CRE deals .