Podcast Summary: The David Greene Show – Episode 78: Seeing Greene with Nick Lamagna
Release Date: August 7, 2025
Guest: Nick Lamagna
Host: David Greene
Introduction
In Episode 78 of The David Greene Show, titled "Seeing Greene with Nick Lamagna," host David Greene welcomes his long-time friend and real estate investor, Nick Lamagna. Known for his friendly demeanor and expertise in Brazilian Jiu-Jitsu, Nick brings a wealth of experience in real estate investing across various strategies and markets. This episode delves deep into critical topics surrounding real estate, from the philosophical debate on rent's existence to practical investment strategies and market analysis.
Guest Background
Nick Lamagna introduces himself as a versatile real estate investor with over 15 years of experience in diverse areas such as wholesaling, fix-and-flips, tax liens, multifamily properties, and remote investing. His journey began in 2007 in New York City, where limited resources pushed him to adopt an out-of-state investment model. Over time, Nick has navigated market shifts, technological advancements, and evolving investment strategies, reflecting his adaptive mindset.
Nick Lamagna [01:48]: "It's like jiu jitsu, where you have stuff that works for you really well and you get really good at it, and then you evolve or the game evolves or your body gets injured, and now you have to change."
Main Discussions
1. Should Rent Exist?
A central philosophical debate kicks off the episode: "Should rent exist?" David and Nick explore the complexities of the rental market, housing surplus, and the ethical implications of profit-driven housing.
David Greene [04:26]: "In this day and age, rent should not exist. We have a surplus of housing. We have houses that are empty, but no, we have to worry about profiting off of it."
Nick counters by emphasizing the balance between renters and landlords, highlighting the economic ecosystem that supports housing maintenance and development.
Nick Lamagna [05:20]: "Why does one person have to get up and bust their butt to work to make the money, and the other person just wants something given."
Ultimately, Nick advocates for a middle ground—implementing caps to keep housing affordable without abolishing the rental system entirely.
2. Making Housing More Affordable
The conversation shifts to practical solutions for making housing more affordable. Nick discusses innovative models like shared housing, citing Sam Wigart's approaches, while also expressing concerns about cohabitation's long-term viability.
Nick Lamagna [06:25]: "Everything I'm seeing is the stuff that would make us be able to provide affordable housing... the cost of material, labor, money, everything is up."
David complements this by suggesting government interventions such as tax incentives for blue-collar workers and reducing regulatory burdens to streamline construction processes.
David Greene [07:37]: "Give tax incentives to people that work blue-collar jobs... and have the construction companies hire these people and maybe they could be more competitive."
3. Real Estate Investment Strategies
David poses a listener’s question comparing short-term rentals in Puerto Rico versus long-term rentals near Chicago. Nick provides a nuanced perspective on market selection based on investment strategy, emphasizing due diligence and effective management in remote investments.
Nick Lamagna [14:22]: "Find your homework on what those are and if those fit your strategy for what you want."
He advises focusing on median-priced homes with strong investor activity and less susceptibility to market volatility, steering away from high-end properties that are more prone to fluctuations.
Nick Lamagna [17:02]: "The high end stuff... you don't have a lot of people that are willing to take that on."
4. Market Analysis: Seller’s vs. Buyer’s Market
Addressing current market trends, David shares a Market Watch report highlighting increased housing inventory and prolonged selling times. Nick counters by asserting that, despite rising inventory, the market remains favorable for sellers who price correctly.
Nick Lamagna [58:36]: "I still think we're in a seller's market as far as if you price your house the right way."
He emphasizes normalization in the market rather than a downturn, cautioning against unrealistic expectations formed during the pandemic-era boom.
5. Short-Term Rentals and Airbnb Challenges
David introduces audience feedback regarding the chaos in short-term rentals, particularly Airbnb, highlighting issues like unruly guests and the flawed review system. Nick agrees, advocating for stricter policies to protect property owners and ensure guest accountability.
Nick Lamagna [39:47]: "It's like Uber... why can't you get banned from VRBOs and Airbnbs?"
They discuss potential solutions, such as implementing guest bans after repeated disturbances and enhancing the review system to favor responsible guests.
6. Impact of Technology and AI
A thought-provoking segment explores the ramifications of technology and AI on human skills and the labor market. David and Nick discuss concerns about critical thinking erosion due to over-reliance on AI tools like ChatGPT and the future of self-driving vehicles.
Nick Lamagna [53:43]: "We're getting too much to the point where... does this mean humans are evolving the wrong way?"
They underscore the importance of maintaining human agency and critical skills amidst technological advancements.
Audience Q&A
Listeners submitted questions via Instagram, which David relays to Nick. Topics ranged from Nick’s investment preferences to advice on financial communication within couples. Nick emphasizes the importance of effective communication and aligning financial goals in relationships.
Nick Lamagna [28:15]: "Communication is key... maybe you're not explaining something the right way."
Real Estate News Discussion
David presents recent articles on the housing market, highlighting investor dominance and market saturation. Nick reiterates his confidence in long-term real estate resilience despite short-term challenges.
Nick Lamagna [64:12]: "Real estate is very forgiving overall... even if rates drop down, prices and competition go up."
Conclusion
As the episode wraps up, David encourages listeners to connect with Nick through his website and social media for further insights. He also shares updates on his short-term rental properties, emphasizing the importance of continuous improvement and adaptation in real estate management.
Nick appreciates the opportunity to share his expertise and invites listeners to reach out for collaboration or investment opportunities.
Nick Lamagna [75:12]: "If you want to go to nicklamagna.com... You can reach out there."
David concludes by reminding the audience to support those affected by the Central Texas flash flood and to continue engaging with the show for more real estate insights.
Key Takeaways:
- Rent Philosophical Debate: Exploring the necessity and morality of rent within the current housing market.
- Affordable Housing: Balancing government incentives and regulatory reforms to enhance housing affordability.
- Investment Strategies: Importance of market research, focusing on median-priced homes, and managing remote investments effectively.
- Market Dynamics: Understanding the transitional state between seller’s and buyer’s markets and setting realistic expectations.
- Short-Term Rentals: Addressing challenges with Airbnb and advocating for stricter guest policies to protect property owners.
- Technology and AI Impact: Concerns about diminishing critical thinking and human skills due to over-reliance on technology.
- Resilience of Real Estate: Confidence in long-term real estate value despite short-term market fluctuations and investor dominance.
Notable Quotes:
- David Greene [04:26]: "In this day and age, rent should not exist."
- Nick Lamagna [05:20]: "Why does one person have to get up and bust their butt to work to make the money, and the other person just wants something given."
- Nick Lamagna [14:22]: "Find your homework on what those are and if those fit your strategy for what you want."
- David Greene [07:37]: "Give tax incentives to people that work blue collar jobs... and have the construction companies hire these people and maybe they could be more competitive."
- Nick Lamagna [58:36]: "I still think we're in a seller's market as far as if you price your house the right way."
- Nick Lamagna [39:47]: "It's like Uber... why can't you get banned from VRBOs and Airbnbs?"
- Nick Lamagna [53:43]: "We're getting too much to the point where... does this mean humans are evolving the wrong way?"
- Nick Lamagna [28:15]: "Communication is key... maybe you're not explaining something the right way."
- Nick Lamagna [64:12]: "Real estate is very forgiving overall... even if rates drop down, prices and competition go up."
Final Thoughts
Episode 78 of The David Greene Show offers a comprehensive exploration of the multifaceted real estate landscape through insightful dialogue between David Greene and Nick Lamagna. From ethical debates and practical strategies to market analysis and technological impacts, this episode serves as a valuable resource for both novice and seasoned real estate enthusiasts seeking to deepen their understanding and refine their investment approaches.