Overview:

In this inspiring episode of the Ironclad Underwriting Podcast, hosts Jason Williams and Frank Patalano explore the powerful mindset shift from viewing setbacks as failures to seeing them as opportunities for feedback and growth. Drawing from real estate, personal experiences, and stories of resilience, they unpack why adopting this perspective is essential for long-term success in investing, and in life. From Tony Robbins to Michael Jordan and Thomas Edison, Jason and Frank show how the best lessons often come disguised as challenges.

Topics Covered:

• The difference between “failure” and “feedback”
• How mindset shapes your ability to learn and grow
• The danger of analysis paralysis in real estate investing
• Lessons from Rod Khleif’s “seminars,” or learning moments
• Real-life examples of perseverance: Michael Jordan, Abraham Lincoln, Thomas Edison
• The importance of resilience and reframing setbacks as learning opportunities
• Why life happens for you, not to you
• How perspective changes over time, and how to use it to your advantage

Quotes:

• “There is no failure, only failure to learn.” – Jason Williams
• “If everything’s going right, you haven’t learned anything. It’s when things go wrong that you’re forced to get better.” – Frank Patalano
• “Forget the mistake, but remember the lesson.” – Jason Williams

🎧 Connect with Jason:

✅ LinkedIn

✅ https://IroncladUnderwriting.com

✅Linktree

🎧 Connect with Frank:

✅LinkedIn

🎧 Episode Overview

In this episode of Ironclad Underwriting, host Jason Williams sits down with real estate investor and educator Frank Patalano to unpack the world of real estate syndications and SEC exemptions, specifically, the difference between 506B and 506C offerings. Frank breaks down these regulations with his signature clarity, using easy-to-remember analogies from his teaching background.

🧩 Topics Covered

• The key differences between Regulation D exemptions: 506B vs. 506C
• What makes an investor “sophisticated” versus “accredited”
• How to build compliant investor relationships under a 506B
• The risks and structure of capital calls in syndications
• Why investor verification matters and how third-party accreditation works
• Gray areas and compliance pitfalls to avoid when raising capital
• The role of the SEC and how regulations protect investors

💬 Memorable Quotes

• “When I say 506B, I think of it as investing with your buddies — B for buddies. It’s your friends and family model.” – Frank Patalano

• “Sophisticated" means you understand what you’re investing in. It’s not a guaranteed double-your-money-in-five-years type thing. You could lose everything.” – Frank Patalano

• “You can’t pitch a 506B on social media, on a stage, or in a group chat with people you don’t know. It’s all about pre-existing relationships.” – Jason Williams

🎧 Connect with Jason:

✅ LinkedIn

✅ https://IroncladUnderwriting.com

✅Linktree

🎧 Connect with Frank:

✅LinkedIn

Overview

In this episode of The Ironclad Underwriting Podcast, host Jason Williams and business partner Frank Patalano break down the essential members every General Partner (GP) team needs for apartment syndication. From sponsors and underwriters to asset managers and capital raisers, they explore what each role contributes to the success of a deal. With firsthand experience and candid insights, Jason and Frank share what makes a strong, balanced team capable of handling everything from due diligence to investor relations, and why having the right mix of people can make or break your syndication.

Topics Covered:

• The importance of having a sponsor or key principal with the net worth and liquidity to qualify for financing
• The role of the asset manager and how to balance oversight with delegation to property managers
• How acquisitions leads handle sourcing, analyzing, and negotiating deals
• The connection between acquisitions and due diligence, including property walkthroughs and deal vetting
• The legalities of capital raising and the boundaries set by SEC regulations
• The value of boots-on-the-ground team members who can physically oversee operation
• Construction management and its role in heavy value-add projects
• The necessity of clear role definitions and commitment among GP members
• Why every team needs a “bad cop” to maintain accountability and protect the group’s interests

Memorable Quotes

1. “A strong GP team isn’t just about filling titles; it’s about having people who can deliver when the deal gets tough.”

2. “You don’t want to be the one doing everything yourself — acquisitions alone can feel like a full-time job.”

3. “If your whole team is made up of nice people, you’ll get walked all over. You need someone who can put their foot down and say, ‘No, this is unacceptable.’”

🎧 Connect with Jason:

✅ LinkedIn

✅ https://IroncladUnderwriting.com

✅Linktree

🎧 Connect with Frank:

✅LinkedIn