310: Learning How To Invest Like a Billionaire with Bob Fraser

On this episode of Zen and the Art of Real Estate Investing, Jonathan Greene sits down with Bob Fraser, bestselling author of Invest Like a Billionaire and CFO and Chief Macro Strategist at Aspen Funds. Bob shares how billionaire investors moved away from traditional 60/40 portfolios toward alternative investments—and why everyday investors can adopt the same mindset without billionaire-level wealth.

Throughout the conversation, Bob explains why professionally managed real estate is often the most approachable entry point into alternatives, especially for investors who want exposure without taking on a second full-time job. He and Jonathan explore the differences between active and passive investing, the importance of aligned partnerships, and why many investors underestimate the operational demands of being a landlord.

The discussion then dives deep into macro-driven investing, with Bob outlining why industrial real estate stands out today due to reshoring trends, logistics demand, and lower construction and operational complexity compared to multifamily. Bob also explains why fund structures can be more efficient than single-asset syndications, offering better capital deployment, diversification, and investor control—especially around taxes and liquidity.

In this episode, you will hear:

• Why billionaires shifted away from traditional portfolios toward alternatives

• How everyday investors can think like billionaires without massive capital

• The difference between active real estate and truly passive investing

• Why industrial real estate is outperforming multifamily in the current cycle

• How fund structures can improve diversification, tax efficiency, and liquidity

• What macro trends Bob looks for when evaluating alternative investments

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Supporting Resources

Connect with Bob:

Website: http://aspenfunds.us/

Instagram: https://www.instagram.com/aspenfunds

LinkedIn: https://www.linkedin.com/in/bobfraser10/

Connect with Jonathan:

Website - www.streamlined.properties

YouTube - www.youtube.com/c/JonathanGreeneRE/videos

Instagram - www.instagram.com/trustgreene

Instagram - www.instagram.com/streamlinedproperties

Zillow - www.zillow.com/profile/streamlinen​j

Bigger Pockets - www.biggerpockets.com/users/jonathangreene

Facebook - www.facebook.com/streamlinedproperties

Email - [e-mail]

This episode was produced by Outlier Audio.