On episode #24 of ONE Path to Wealth, host Jeremy Dicker welcomes Jacob Wilson, founder of Crux Commercial Partners, a high-volume commercial loan brokerage serving the West Coast and beyond. Jake started his commercial real estate finance career at US Bank in 2009, when underwriting standards were at their strictest, and has since built a 12-person team that closes more deals than nearly anyone on the West Coast, typically in the $2 million to $30 million range with a focus on apartments and apartment rehabs.

Jeremy and Jake cover a lot of ground, including:

• How Crux got started: intercepting deals that banks couldn’t close and becoming the go-to team for bankers and brokers in Seattle
• Lending then vs. now: how liquidity has changed since 2009, and how a roughly 1% rise in rates over the past year affects debt service coverage ratios, loan sizes, and cap rates
• Why higher rates mean more business: when borrowers are shocked by their bank’s quote, they go shopping, and Jake’s team has data on about 3,000 lenders
• What makes a good deal (and a bad one): low basis, cash flow during the hold, long-term upside, and the red flags to watch for
• The “mailbox money” trend: why many longtime multifamily investors are trading into triple-net properties
• Leaving Seattle for Arizona: quality of life, Washington’s new millionaires’ tax, regulation, and why tough markets can still hold opportunity
• Building relationships that last: Jake’s approach to the “ground game” in a new market
• AI in the real world: how Crux uses AI to remove time drains for processors and underwriters, what it really takes to build enterprise-grade tools, and why trust matters as much as speed
• Patience over panic: why headlines and clickbait shouldn’t drive your financial decisions

Whether you’re a real estate investor, a business owner, or just want a clearer view of where rates and lending are headed, this conversation offers a practical, inside look from someone closing deals every week.

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