Most investors think real estate performance comes down to the asset. At the high-net-worth level, the more important conversation is often about control.

Because a deal is not just a building, a market, or a projected return. It is an operating system. Who manages the property? Who controls leasing, maintenance, marketing, resident communication, and costs at the asset level? Who can make decisions quickly when the market tightens, and the assumptions in the original deck no longer hold?

That is where real estate investing starts to look very different.

A lot of investors were comfortable allocating capital during the easy-money years because deals looked strong, liquidity was flowing, and exits felt predictable. But in a tighter market, the difference between passive ownership and true operating control becomes much more obvious.

In this episode of Money School Elite, I sit down with Michael Pouliot of Carbon Real Estate Investments to talk about workforce housing, vertical integration, AI, capital raising, and what real estate operators need to get right in the current cycle.

Michael brings a rare combination of Wall Street training, real estate operating experience, and long-term ownership thinking. This is not a conversation about chasing yield or finding the next hot deal. It is about how serious investors should evaluate structure, execution, risk, and time horizon before they put capital to work.

About the Guest

Michael Pouliot is the CIO of Carbon Real Estate Investments, where he helps acquire and operate workforce apartment communities across the Southeast, with a focus on 100–300 unit B/C-class properties in secondary markets where institutional capital rarely competes. Michael brings a rare combination of Wall Street training and hands-on real estate operating experience. As a CFA and CAIA charterholder, he spent his early career analyzing distressed assets for Blackstone, Merrill Lynch, and notable family offices, as well as allocating capital for J.P. Morgan's Private Bank. Over the past 15 years, he has built institutional-grade underwriting and operational systems for middle-market multifamily investments. That combination of analytical rigor and operating discipline has helped generate 20%+ IRRs across 15+ repositioned assets, more than 3,000 units, and over $75 million in equity successfully deployed and managed. At Carbon, Michael and his team focus on acquiring underperforming workforce apartment communities in Sunbelt secondary markets. They create value through vertical integration, professional management, capital-efficient renovations, and disciplined operations.

Website: investwithcarbon.com

Podcast: Deal Flow

Connect with Michael on LinkedIn.

About Your Host

From pro-snowboarder to money mogul, Chris Naugle has dedicated his life to being America's #1 Money Mentor. With a core belief that success is built not by the resources you have, but by how resourceful you can be. Chris has built and owned 19 companies, with his businesses being featured in Forbes, ABC, House Hunters, and his very own HGTV pilot in 2018. He is the founder of The Money School™ and Money Mentor for The Money Multiplier.

His success also includes managing tens of millions of dollars in assets in the financial services and advisory industry and in real estate transactions. As an innovator and visionary in wealth-building and real estate, he empowers entrepreneurs, business owners, and real estate investors with the knowledge of how money works.

Chris is also a nationally recognized speaker, author, and podcast host. He has spoken to and taught over ten thousand Americans, delivering the financial knowledge that fuels lasting freedom.

Resources

Private Money Guide: https://go.moneyschoolrei.com/book-podcast

Wealth Wednesday Webinar: https://go.moneyschoolrei.com/wednesday-webinar-podcast

Mapping out the Millionaire Mystery: https://go.moneyschoolrei.com/newbook-podcast