In this episode of Million Dollar Flip Flops, Rodric sits down with David Sidoni, founder of How to Buy a Home, to blow the lid off how the real estate industry treats first-time home buyers—and what to do instead.

David has been in real estate for over 25 years and realized something brutal:

First-time buyers make up about 1/3 of all transactions every year… and they’re usually handed off to the worst, newest, least-trained agents in the business.

So he built How to Buy a Home—now over 2.1M podcast downloads—to give renters real education, connect them with vetted, experienced “unicorn” agents around the country, and help them go from renter to homeowner without getting chewed up by “big real estate.”

They get into:

1. How the industry is actually set up to make money off agents, not consumers
2. Why 87% of realtors quit within five years—and what that means for you
3. How David personally vets “unicorn agents” in 300+ markets
4. Why first-time buyers absolutely can still achieve the American dream
5. What he’d tell his 18-year-old self about careers, learning, and failure

If you’re a first-time buyer (or love someone who is), this episode is a cheat code.

1. Why first-time buyers get the short end of the stick
2. How the structure of the real estate industry pushes rookies onto first-time buyers while brokers collect 50% of the commission and move on.
3. The brutal stats behind the scenes
4. 87% of realtors quit within 5 years
5. In 2025, ~71.9% of agents sold zero homes
6. What that means for anyone just trying to buy their first place.
7. How “big real estate” really makes money
8. It’s not off buyers and sellers—it’s off realtors paying for leads, programs, and “endorsements.”
9. Dave Ramsey ELPs, Zillow, referral networks—it’s all pay-to-play.
10. What makes a “unicorn agent”
11. David’s term for the rare agents who are:
12. Experienced
13. Skilled
14. Compassionate
15. And still care deeply about first-time buyers
16. How How to Buy a Home actually...

📝 Episode Summary

In this episode of Million Dollar Flip Flops, Rodric sits down with Eugene Gershman, CEO of GIS Companies, to demystify real estate development for landowners, builders, and investors who know they’re sitting on potential—but don’t know what to do next.

Eugene started in the family construction business over 20 years ago, transitioned into full-time development, and now runs a development services company that partners with landowners across the country. His team handles everything from feasibility and entitlement to design, permitting, capital stack, and GC selection—and instead of billing by the hour, they take JV equity and get paid when the project succeeds.

He breaks down:

•. What to look at first if you have a piece of land and a dream

•. Why feasibility is non-negotiable

•. How “money follows good deals” (and how to structure those deals)

•. The reality of permitting timelines, IRR vs equity multiple, and why he targets 2x+ equity rather than obsessing over IRR

•. How early-stage capital actually works (GP funds, bridge loans, angel investors)

If you’ve ever thought “I’d love to build something on this land, but I have no idea where to start,” this episode is your crash course.

🔑 In This Episode, You’ll Learn

•. What GIS Companies actually does

How Eugene’s team acts as a development partner, not just a consultant—bringing in the team, structuring the deal, and taking JV equity instead of hourly fees.

•. Who can work with them (hint: you don’t need experience)

Why you don’t need to be a developer to develop: from families with legacy land to builders stepping up in scale, Eugene loves helping people go from “I own dirt” to “I own a project.”

•. Why feasibility is the first non-negotiable step

Zoning, entitlements, municipality history, neighborhood opposition, site layout, market data, costs—they walk through all of it before anyone talks about pouring concrete.

•. How to think about “hard” municipalities

Why Eugene doesn’t care if a place is “hard”—he cares if it’s possible or impossible. If it’s not impossible, there’s a path.

•. The truth about finding money for your project

Why money follows good deals and why you can’t raise capital credibly until you know:

•. What can be built

•. What it costs

•. What the investor gets

•. Early-stage vs late-stage capital

•. Late-stage investors love coming in when permits are issued & debt is locked.

•. Early-stage money is harder and often comes from GP funds, bridge loans, and angel investors willing to accept higher risk.

•. How landowners can tap into their land value without selling outright

Using bridge loans (50–60% of land value), pairing that with feasibility, and understanding how bringing in partners dilutes you—and why that’s not always bad if structured right.

•. Returns: IRR vs Equity Multiple

Eugene explains why IRR is fragile (because permitting timelines blow it up), and why he prefers tracking equity multiple—aiming to double investor money (2x) or more over the life of the project.

•. Why right now might be a great time to start a project

Eugene shares his view that the next ~5 years could be a strong cycle for development—and why people sitting on land should seriously consider building instead of waiting.

•. How he thinks about sustaining goals

In response to a listener-style question, Eugene explains why habits and routines, not motivation, are what keep you from “losing 10 lbs and then going back to cake.”

⏱️ Suggested Timestamps

[00:00] “Money follows good deals.”

Why investors won’t show up until you can...

📝 Episode Summary

In this episode, Rodric sits down with Fuquan Bilal — real estate developer, fund manager, and self-described “superhero” to his kids — to talk about identity, resilience, and building wealth with intention.

Fuquan has been in real estate since 1999, has survived multiple market cycles (including the ’08 crash), and now runs a fund focused on luxury spec homes in New Jersey and impact multifamily housing in the Southeast. But the most powerful part of his story isn’t just about deals… it’s about who he became when everything fell apart.

He shares what it felt like to lay on his back after the crash, staring at the ceiling fan, wondering “What am I gonna do next?” — and how detaching his identity from “real estate guy” and doing the inner work (meditation, yoga, reading, mindset) became the foundation of his comeback and long-term success.

They dive into micro vs macro market focus, how to think about luxury spec risk, why self-work must come before business growth, and how the ultra-wealthy actually structure their portfolios (hint: it’s not 100% mutual funds).

If you’ve ever tied your worth to your business, been punched in the face by a market cycle, or are curious about blending impact and profit in real estate, this episode is going to hit home.

🔑 In This Episode, You’ll Learn

•Why your business is not your identity

Fuquan’s journey from “real estate is who I am” to separating self-worth from what he does — and how that shift changed everything.

•What the 2008 crash taught him (the hard way)

Laying on his back, staring at the ceiling fan, wondering what’s next — and what it really took to get back up.

•The inner work behind outer success

How meditation, yoga, reading, and mindset work became essential tools in rebuilding both his life and his portfolio.

•Why he moved from affordable housing to luxury spec homes

The transition from lower-income, bread-and-butter housing to high-end, process-driven luxury builds – and why those margin and demand profiles made sense post-COVID.

•How he thinks about risk in the current market

Why Fuquan focuses on the micro/local market instead of macro fear, paying attention to absorption rate, school systems, and buyer profiles (doctors, lawyers, high earners).

•Fund structure & impact investing

How his fund blends two verticals:

•Luxury spec homes in New Jersey

•Multifamily impact projects in Alabama & Georgia for low-income seniors, battered women, and children

Plus his BHAG of providing housing for 5,000+ residents.

•How the ultra-wealthy actually invest

Insights from Target 21 and why truly wealthy portfolios are heavily weighted in alternative investments, not just traditional stocks.

•Blended portfolios & alternative investing mindset

Why many investors stay stuck in traditional models, and how Fuquan talks to people transitioning from mutual funds to alternatives.

•Teachers, mentors, and the power of books

The role of masterminds, pods, and classic mindset authors like Napoleon Hill, Brian Tracy, and Maxwell Maltz (Psycho-Cybernetics) in shaping Fuquan’s worldview.

⏱️ Suggested Timestamps

[00:00] “Real estate became my identity” – and why that was dangerous

Fuquan shares how tying his self-worth to his role as a real estate investor created pain when the market crashed.

[00:40] Welcome to Million Dollar Flip Flops

Rodric sets the stage for a conversation about markets, mindset, and real wealth.

[01:00] Who is Fuquan Bilal?

Superhero to his kids, real estate developer since 1999, and fund manager for luxury spec homes & multifamily.

[01:40]...