The Truth About California’s Housing Crisis – And How Smart Investors Profit with John Drachman

Описание: How do you go from leasing broker to co-founding a firm with over $2B in real estate?
In this episode of "No Vacancy", Taylor Avakian sits down with John Drachman, co-founder of Waterford Property Company, to break down how he’s leveraging tax-exempt bond financing, institutional partnerships, and entrepreneurial grit to tackle California’s housing crisis.

Learn how John:
Went from broker to principal, building a top-tier firm
Acquired market-rate assets using creative public-private financing
Navigates California’s tough regulatory and affordability landscape
Uses relationships, cold calling, and capital strategy to scale
Teaches real estate entrepreneurship at USC’s RED program

Whether you’re trying to break into the industry or scale a platform, this episode is loaded with real-world insight on ownership, development, and public-private dealmaking.

Microchapters:
[00:00–01:00] Intro to John Drachman & Ocean Air project
[01:01–03:30] Discovering the bond-financed workforce housing model
[03:31–06:00] Breaking down the tax-exempt structure with JPAs
[06:01–08:30] Why this model doesn't work on every deal
[08:31–11:00] California’s market paradox: strong fundamentals, high fear
[11:01–14:00] Why LA County might be the best opportunity right now
[14:01–17:00] The disconnect between institutional and small buyers
[17:01–20:00] Teaching real estate entrepreneurship at USC
[20:01–23:00] What John learns from teaching and engaging with students
[23:01–26:00] Advice for getting into real estate: 5 entry points
[26:01–29:00] Why debt & equity brokerage is a smart career move
[29:01–32:00] Building long-term income through capital relationships
[32:01–34:30] Cold calling, relationship-building, and standing out
[34:31–37:00] Why physical cold calls still work
[37:01–40:00] Transitioning from brokerage to principal: pivotal moment
[40:01–43:00] Getting burned on a deal—and bouncing back
[43:01–46:00] Going to grad school at USC to pivot into development
[46:01–49:00] Early partnership with Sean Rawson and sharing space
[49:01–52:00] First deal together: 14-unit acquisition & capital raise
[52:01–End] Building Waterford and long-term vision


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