Wealth Independence Podcast
The Wealth Independence Podcast guides high-income tech professionals through proven strategies for building passive income and achieving true financial independence.
Hosts Dustin Bailey and Adam Penn share battle-tested frameworks, real-world case studies, and hard-won lessons from their years of experience in private markets and alternative investments. Each week, they break down complex investment concepts, analyze current market trends, and interview successful investors and industry experts.
Through a freedom-first approach that emphasizes passive income, smart diversification, and thorough due diligence, learn how to shorten your learning curve and avoid common pitfalls on their path to financial independence.
Whether you're looking to understand private placements, real estate fundamentals, or alternative investment opportunities, Wealth Independence delivers actionable insights that help busy professionals make informed investment decisions.
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Wealth Independence Podcast
v2.6 - Due Diligence, Deal Structures, and the Housing Shortage (ft. Ian Colville)
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Dustin and Adam sit down with Ian Colville, founder and managing partner of Carpathian Capital Management, who oversees roughly $150 million in residential real estate assets.
Ian's path to US real estate started in an unlikely place – running equity sales for Deutsche Bank and Citigroup in Moscow during the early 2000s BRIC boom – and the risk perspective he built there shapes everything about how he evaluates deals today.
The conversation digs into the structural housing shortage that Ian believes still defines the US market. He explains why affordability concerns are real but don't point toward a crash when supply remains as constrained as it is.
Ian also walks through his approach to due diligence – how he uses AI to extract and organize data from PPMs across a 70-item checklist, and where human judgment still matters most. He shares real examples of deal terms he’s reviewed, including egregious examples that favored the sponsor over the investors from day one.
Passive investors will come away with a clearer sense of what to look for in fee structures, waterfall arrangements, and sponsor incentive alignment – and where simplicity crosses the line into misalignment.
Episode Release Notes & Resources:
- Carpathian Capital Management: https://carpathiancapital.com
- 70-point due diligence checklist: https://drive.google.com/file/d/1shEbVZ8m6eDOKyCwYcDbxDTFoKPOoFa7
- Ian’s free deal due diligence course: https://webinar.carpathiancapital.com
- Ian’s LinkedIn: https://www.linkedin.com/in/micolville
Watch episode on YouTube: https://www.youtube.com/watch?v=7mHhArpniHA
See all Wealth Independence episodes at https://www.wealthindependencepod.com
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This show is for informational purposes only and is not financial, investment, legal, or tax advice, and does not constitute an offer to buy or sell securities. All investments carry risk, and investors should always conduct thorough due diligence and consult with qualified professionals before investing.
