Trey brings back TIP fan favorite, Mr. Ian Formigle. Together they discuss the future of office and retail, the risks of capital calls in a downward market, and much more.Ian is the Chief Investment Officer of Crowdstreet and our go-to expert on all things real estate, especially commercial real estate. IN THIS EPISODE, YOU'LL LEARN:00:00 - Intro08:32 - DIan’s outlook for 2023, especially as it pertains to the risks surrounding bank failures and other illiquidity issues.15:01 - How interest rates and cap rates affect one another.18:58 - Which asset class has the most upside opportunity at the moment and which strategies will be most optimal. 35:05 - Ian’s predictions on the future of office and retail. 01:18:35 - The risks of capital calls, especially in a downward market.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCESRelated Episode: TIP423: Real Estate Update w/ Ian Formigle, or watch the video.Related Episode: TIP337: How to Identify Value in Commercial Real Estate w/ Ian Formigle, or watch the video.Check out Crowdstreet.Trey Lockerbie's Twitter.Ian Formigle's Twitter.NEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSHave peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves.Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple.Let an expert do your taxes from start to finish so you can relax with TurboTax.Have Commonwealth Private's Private Bankers take the time to understand your goals and tailor solutions that create less for you to do and more for you to enjoy.What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union.Get the professional support you need to prepare for your future career with UBC Sauder School of Business.Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today.Get yourself a Blockstream Jade -- An all-in-one, bitcoin-only hardware wallet that makes protecting your bitcoin so easy. Use the coupon code Fundamentals to get 10% off.Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor.Support our free podcast by supporting our sponsors.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.