The David Greene Show – Seeing Greene with Greg Schwartz | Episode #95
Release Date: November 6, 2025
Host: David Greene
Guest: Greg Schwartz

Episode Overview

Main Theme:
David Greene and special guest Greg Schwartz dive into the realities of building wealth in real estate—what’s truly passive, the future of brokerages, and strategies for thriving in today’s complex market. David answers listener questions with Greg’s input, drawing from their experience as owners, agents, and real estate business operators. Topics include brokerage ownership, “passive income” misconceptions, creative finance for homebuyers, market timing, and learning from industry trends. Peppered with stories, candid advice, and sharp analogies, this episode balances deep industry wisdom with memorable humor.

Key Discussion Points & Insights

1. Can a Real Estate Brokerage Provide Passive Income?

Timestamps: 02:57–15:15

• Listener Question: Can a brokerage (or team) deliver cash flow without daily involvement, and is it a saleable asset if the owner steps away?
• Greg Schwartz: “Yes, it is possible. But like all things that are that level of sexy, man, you got a long road to get there.” (03:29)
  • Real passive income from a brokerage (i.e., $100–200k/year) requires building a business with $1–2M in top-line revenue.
  • Getting to “owner only” level, not “CEO,” is rare and labor-intensive. It requires systems, people, and relentless focus.
  • Saleability is limited—teams and brokerages, unlike properties, are not easy to transfer or sell for a meaningful value.
• David Greene: Business is unlike real estate assets: “With a property, no one can take it from you. A business is way, way different. There is always someone trying to steal your clients, your customers, and your employees.” (04:43)
  • Real estate agency is a constant competition for attention—much work is retention and relationship-based, not scalable “passive” work (05:48).
  • “There's nothing passive about that; and that's just the clients…” (07:25)
  • Employees and good agents are constantly recruited—turnover is high, training is time-consuming, and you’re always ‘filling a leaky bucket.’ (10:18)
  • The industry’s culture is shifting: “We went from ‘work here for our training’ to ‘we’ll give you a car wash if you join.’” (10:48)

Notable Quote:
David Greene (13:02):
“You will turn your back and someone will come steal the tomatoes out of your garden and they’ll go for the biggest, juiciest, ripest ones first.”

2. The Passive Income Myth: Is Anything Truly Passive?

Timestamps: 15:15–19:38

• Greg Schwartz: “I don’t think passive is nearly as sexy as people want it to be.” (15:15)
  • True fulfillment comes from engaging work you enjoy, not from escaping it; often, those seeking pure passivity stagnate or lose passion.
• David Greene: Challenging the fantasy, he likens passive income to passive fitness or passive relationships—“your best bet would be how do you enjoy the process…how do you fall in love with holding a high standard?”
  • Suggests shifting focus from “passive income” to “passion income”—actively finding fulfillment in business rather than seeking to escape effort. “You're better off to try to kill the part of you that wants passive income and instead look for passion income, which I just made up right now.” (17:49)

Notable Quote:
David Greene (18:45):
“If that's the reality of how life works, that we have to all swallow this pill at some point—life is not going to give you a passive relationship or passive fitness or passive income—your best bet would be how do you enjoy the process.”

3. Strategic Wealth Building: Active Income Towards Passive Vehicles

Timestamps: 13:48–14:55

• Greg Schwartz: Leverage the high income potential of agency or business to invest in other asset classes (Airbnbs, car washes, laundromats). “But to think that a real estate agent business is going to be the passive business you want it to be, I think it's gonna be an uphill, uphill climb.” (14:55)
• David Greene: Build systems to do what you enjoy, delegate the rest. True “surgeon level” business is specialized, not passive.

4. Listener Q&A: Tapping Equity for Down Payments & Shared Equity Programs

Timestamps: 23:54–28:49

• Listener Ella (WA): Considering using equity from a rental for a bigger down payment on a primary home—possibly via shared equity programs like Point or Unlock.
• Greg Schwartz: Cautions against increasing leverage on valuable long-term assets; “Leverage increases the risk, and increases the chance you don’t get to the end of the rainbow.” (25:44)
• David Greene: Supports caution—shared equity programs mean you sell away a piece of your asset, which could have risks or unfavorable fine print.
• Both advise: Explore simpler options (sell and buy differently, reduce target price, etc.) and fully understand the partnership fine print before proceeding.

5. Quick Hitters & Comments: Mortgage Mondays, Rates, Brokers, and Winter Buying Windows

Timestamps: 30:59–43:31

• On Mortgage Mondays/Economic Insight:
  • Greg: “People need to understand what’s going on in the mortgage environment… being educated on that, wherever you get that education, I think that’s a great source for it.” (31:04)
• On Broker/Rate Shopping:
  • Greg: “Don't think that the rate is everything. It is a small portion of what goes into finding you the best deal.” (34:41)
  • David: Low rates often mean inexperience and poor execution—costing buyers much more than they “save.”
• On Buying Opportunities (Winter 2025):
  • Greg: “Most houses to choose from we've seen in 10 years… rates are relatively low. It's a pretty good time to buy. You can afford it, and there’s a lot to choose from. I'm a really big fan of right now.” (39:58)
  • David: Reminds listeners of Warren Buffett’s advice—be aggressive when others are fearful, nervous when others are greedy.
• On Cap Rates for Single Family:
  • Cap rate talk signals inexperience. Cap rates are for valuing commercial, not SFR. Look for cash-on-cash return, overall IRR.
  • David: “Cap rate is the fruity of the single family space.” (42:33)

6. Featured Property: Smoky Mountains “Splash Mountain Pool Cabin”

Timestamps: 44:59–50:00

• David shares details on a professionally-managed short-term rental in Tennessee—with practical tips about increasing value through amenities (arcade games, outdoor dining, etc.).
• Marketing plug: Book direct for best rates, or learn about management.

7. LOL Moment: Viral Story—Guests Complain Cabin Is Too Mountainous

Timestamps: 50:00–56:06

• David & Greg riff on a viral story where a couple rented a Smoky Mountains cabin, then abandoned it after finding the driveway “too slopey” and the mountains “too mountainy.”
• Social media ridiculed the couple for not realizing “Smoky Mountains” include mountains, not just views.
• Humor in hospitality: “They were wronged by the mountain. That mountain wronged them.” (55:00)
• Business lesson: Always include clear disclosures—some guests will still be surprised.

8. Closing Advice: How to Invest in Today’s Market

Timestamps: 56:39–57:24

• Greg Schwartz: “Have a strategy. You have to understand what it is you’re trying to accomplish, and then you can find out if the market you're in can accomplish that goal.” (56:56)
• David Greene: Connect with experts, clarify your goals, and act intentionally based on personal circumstances—not just headlines.

Notable Quotes & Timestamps

• "Yes, it is possible. But like all things that are that level of sexy, man, you got a long road to get there." (Greg, 03:29)
• "With a property, no one can take it from you. A business is way, way different. There is always someone trying to steal your clients, your customers, and your employees." (David, 04:43)
• "You will turn your back and someone will come steal the tomatoes out of your garden and they’ll go for the biggest, juiciest, ripest ones first." (David, 13:02)
• "I don’t think passive is nearly as sexy as people want it to be." (Greg, 15:15)
• "You're better off to try to kill the part of you that wants passive income and instead look for passion income, which I just made up right now." (David, 17:49)
• "Cap rate is the fruity of the single family space.” (David, 42:33)
• "They were wronged by the mountain. That mountain wronged them." (Greg, 55:00)

Resources & Where to Connect

• David Greene:

  • Instagram @DavidGreene24
  • Submit a question: www.davidgreene24.com

• Greg Schwartz:

  • Instagram: Schwartz Realty Group
  • Weekly investor-focused content for Bryan/College Station, TX

Summary

This episode offers an unvarnished look at what it really takes to succeed, survive, and even thrive in the real estate business—dispelling myths, exposing industry trends, and answering tough listener questions. From brokerage building to equity hacks, winter buying windows, and the dangers of “passive” thinking, David and Greg strike a lively, honest, and educational tone that’s both practical and empowering for anyone looking to build their real estate portfolio the right way.