School of Hard Knocks Podcast Greg Perlman | The Real Estate Billionaire Who Built a $2.5B Empire and Chose to Give 75% Of It Away
Oct 9, 2025
In this conversation, Greg Perlman, a real estate mogul with a $2.5 billion empire and founder of the Always Up Foundation, shares his journey from real estate investor to philanthropist. He discusses leveraging Section 8 housing and the importance of patience in investing. Greg reveals his decision to donate 75% of his wealth and emphasizes that true success lies in giving back. He also provides insights on risk management, building relationships, and finding fulfillment through altruism, urging others to embrace small acts of giving.
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Esoteric Markets Hide Opportunity
- Affordable housing was esoteric and avoided by many, creating opportunity for skilled operators.
- Operating tightly within government rules turned public programs into reliable partnerships.
Patience Trumps Quick Wins
- Be patient when building in real estate; wealth often forms slowly over decades.
- Find a niche and hold assets long term rather than chasing quick flips.
Finite Supply Creates Durability
- Section 8 project-based units are finite and protected from new supply, making them resilient investments.
- Supply constraints in certain markets create durable value for holders.
