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CASE STUDIES

Stan Ricks: How To See Opportunity Where Others See Disaster

Season 1, Ep. 85

Casey Baugh sits down with investor and serial entrepreneur Stan Ricks to unpack a lifetime of hard-won wisdom. From navigating the 2008 housing crash to hitchhiking across Africa, Stan’s story is a masterclass in resilience, risk-taking, and long-term thinking.


Learn how integrity, relationships, and adaptability built a career that thrived through multiple economic cycles. Stan offers real-world insights into investing, entrepreneurship, and what it takes to lead through chaos with courage and clarity.


Whether you’re an aspiring entrepreneur, seasoned investor, or simply navigating uncertain times—this episode delivers.


Chapters:

00:00 – 02:09 | Introduction & Early Influence - Casey introduces Stan as a mentor and lifelong inspiration - Stan reflects on how his early relationship with Casey began during tough personal times

02:09 – 04:44 | From Financial Planner to Real Estate Developer - Stan starts in financial planning in 1981 - Shares disillusionment with commission-driven models and pivot to real estate

04:44 – 07:48 | Why Control Matters in Investing - Explains his shift to development for greater investor accountability - Highlights key lessons from the 1987 crash and savings & loan crisis

07:48 – 10:42 | Managing Partnerships & Teaching at BYU - What makes a good (and bad) business partner - His 12-year teaching stint and its unexpected long-term rewards

10:42 – 12:27 | Real Estate: Time Heals Most Mistakes - Why staying power is crucial in real estate - The long-term upside of inflation and patience

12:27 – 18:04 | Africa, River Guiding & Facing the Unknown - Hitchhiking 5,000 miles through Africa - Lessons in survival, leadership, and risk tolerance

18:04 – 23:28 | 2008 Crash: The Darkest Days - How Trophy Homes collapsed during the housing crisis - Facing insurmountable obstacles and the emotional toll

23:28 – 27:22 | Buying Back Notes & Contrarian Investing - How Stan repurchased distressed assets for pennies on the dollar - Embracing fear as a signal to invest wisely

27:22 – 34:33 | Turning Crisis Into a Business Model - Launching Sundance Bay and buying foreclosed homes - Building a private debt fund during a credit freeze

34:33 – 38:23 | From Single-Family to Apartments to Debt Fund - Transitioning from flips to long-term holds - Scaling Sundance Bay’s lending platform to over $900M

38:23 – 44:38 | Spotting Hidden Value: Office & Apartments - The Vivint building deal and importance of timing - Why relationships are the gateway to opportunity

44:38 – 49:54 | Relationships Over Transactions - Building trust in good and bad times - How doing the right thing leads to long-term success

49:54 – 55:57 | Money as a Tool for Good - Business as a spiritual game - Why loving people beats loving money every time

55:57 – 59:15 | A Case Study in Integrity: BlackRock Deal - Helping a bank through a foreclosure earns him future trust - Lending $150K that catalyzed 15+ successful deals

59:15 – 01:04:02 | Parenting, Memories & Teaching Resilience - Adventures with his children build bonds and grit - Why experiences matter more than things

01:04:02 – 01:09:08 | Legacy, Seasons of Life & Final Wisdom - Teaching by example through transparency and effort - Why the later years can be the most impactful of all

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