{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"S8 E2 - Adam Taki | Vertical Integration and Arithmetic Risk","description":"In this episode of Real Returns, host Andrew Reichert sits down with Adam Taki, President of Actlien Holding Inc. and a specialist in the complex world of tax sale certificates. A disciplined investor with a background in &quot;arithmetic risk,&quot; Adam is on a mission to navigate high-barrier niches where perceived risk often scares away the competition, but the numbers tell a much more stable story. Adam shares why his tax-lien investing strategy is similar to bonds, explains why his company is vertically integrating by launching its own plumbing division, and offers a unique perspective on the Tyler v. Hennepin Supreme Court decision that upended the tax foreclosure industry. Timestamps: 00:00 - Opening Segment 01:40 - Scaling through Vertical Integration: Why Actlien is starting a plumbing division 03:20 - Why building is better than buying in 2026 05:25 - Tax Liens 101 08:45 - Geographic Strategy: Navigating the complexities of the NY and NJ markets 11:30 - The Institutional Shift: Trends in single-family residential ownership 14:15 - The Social Impact of Tax Liens: Extending credit to save homes from foreclosure 18:30 - Tyler v. Hennepin: How a landmark Supreme Court ruling changed the industry 22:15 - Arithmetic vs. Perceived Risk: Adam\u2019s philosophy on finding niche opportunities 23:30 - Closing Segment &quot;At the end of the day, the thing that we're investing in looks and smells like a bond more than it ever has.&quot; \u2014 Adam Taki \u2014 Connect with Adam: LinkedIn: &amp;nbsp; \/ adamtaki &amp;nbsp; Website: https:\/\/actlien.com\/ \u2014 For more insights on purposeful investing, subscribe to Real Returns on Apple Podcasts, Spotify, or YouTube. Apple Podcasts: https:\/\/podcasts.apple.com\/us\/podcast... Spotify: https:\/\/open.spotify.com\/show\/5tx0jOW... YouTube: \/ @realreturns \u2014 Subscribe to our NEW monthly newsletter at https:\/\/www.birgo.com\/realreturns. Want to see your question answered on the show? Submit a question via our Q&amp;amp;A form: https:\/\/forms.gle\/Fy9E6H7BTpzhGPueA ","author_name":"Real Returns","author_url":"https:\/\/www.birgo.com\/capital","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/40526020\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/content\/199820060"}