The Multifamily Wealth Podcast

In this episode, Axel Ragnarsson is joined by John Makarewicz, President and Head of Operations at Faris Capital Partners, to discuss how sponsors can stand out in a crowded multifamily space and the systems that drive excellent asset management.John shares his journey from scaling one of the largest residential brokerages in the Southeast to building Faris Capital Partners, a firm focused on world-class investor and resident experiences. He explains how they differentiate themselves from other general partners through transparency, communication, and disciplined asset management practices.John unpacks the philosophies and operational processes that have shaped his firm’s growth. He also explains the importance of being on-site (post-acquisition) from day one, building trust with residents, and adding value before asking for anything in return.This conversation is packed with practical insights for operators, investors, and anyone looking to raise the bar in multifamily execution.What You’ll Learn in This Episode:How to de-commoditize yourself as a GP through world-class communication and transparencyWhy being on-site and listening to residents can help you out in the long-termThe structure of a strong asset management process with third-party PMsHow to align incentives across teams to improve NOI and performanceAre you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.NH Multifamily Fund III Details:Download The OM For The NH Multifamily Fund IIIAccess The Deal Room For The NH Multifamily Fund IIIConnect with John:Connect with him on LinkedInLearn more about Faris Capital PartnersCheck out Full out InvestingConnect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

In this solo episode, Axel breaks down one of the most overlooked aspects of multifamily ownership—the timing of your CapEx spending. Many investors wait until systems fail before addressing roofs, heating, or parking lots, but Axel explains why this “defer and react” approach can actually hurt you long-term.He shares why leading with your CapEx, creates a more stable operation and more benefits around it. Axel also discusses why you should consider over-renovating one of your first few units to test what the market will bear and adjust your strategy early on.This episode is packed with practical, experience-driven advice for anyone managing value-add or long-term hold multifamily assets.What You’ll Learn in This Episode:Why waiting to spend CapEx until systems fail can backfireThe operational and financial benefits of leading with your CapExHow proactive CapEx planning simplifies long-term cash managementWhy early CapEx investment can subtly boost resident quality and retentionHow to test the market by over-renovating one early unit to gauge demand and pricingAre you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.NH Multifamily Fund III Details:Download The OM For The NH Multifamily Fund IIIAccess The Deal Room For The NH Multifamily Fund IIIConnect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

In this episode, Axel sits down with Levi Allen and Joe Rinderknecht, co-founders of Cowboy Capital, to talk about their journey from a tough first deal to becoming trusted operators with a growing investor base.They share how they salvaged a challenging early project that nearly sank their business, what they learned about managing investor relationships through transparency, and the principles that guide every deal they do today. From ranching roots to raising millions in capital, Levi and Joe have built a business defined by integrity, speed, and a deep commitment to their investors.They also share memorable deal stories, including a Montana acquisition that doubled in value within a year, and explain how their “run out the bad news, walk out the good” philosophy has built lifelong investor trust.What You’ll Learn in This Episode:How Levi and Joe salvaged a struggling first deal and retained investor confidenceWhy transparency and honesty are their strongest investor retention toolsThe power of speed and decisiveness in sourcing great dealsHow they structure preferred equity and ensure investor alignmentWhy trust, simplicity, and clear communication always win in capital raisingAre you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.NH Multifamily Fund III Details:Download The OM For The NH Multifamily Fund IIIAccess The Deal Room For The NH Multifamily Fund IIIConnect with Levi and Joe:Joe’s LinkedInJoe’s InstagramLevi’s LinkedInLevi’s InstagramCowboy Capital WebsiteConnect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

In this special milestone episode, Axel Ragnarsson celebrates 300 episodes of The Multifamily Wealth Podcast by reflecting on how his business—and his mindset—has evolved since the show began in 2020.From launching with 42 units and no investors to managing over 500 units and $18M in equity today, Axel walks through the journey of growth, lessons learned, and the mindset shifts that have shaped his investing philosophy. He shares what he’s learned about raising capital, expanding (and contracting) markets, building a property management business from scratch, and redefining what success really means in multifamily.This is part reflection, part masterclass—a candid look behind five years of business building and personal growth.What You’ll Learn in This Episode:The evolution of Aligned Real Estate Partners—from 42 units to over 515 unitsWhy “unit count” is a misleading metric for successThe biggest lessons from raising over $17M in investor capitalWhy Axel stopped chasing multiple markets and doubled down on New HampshireHow his property management company scaled from 70 to 800+ unitsThe shift from chasing volume to prioritizing quality, efficiency, and team cultureInsights on long-term thinking, lean growth, and staying consistentAre you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.NH Multifamily Fund III Details:Download The OM For The NH Multifamily Fund IIIAccess The Deal Room For The NH Multifamily Fund IIIConnect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

Harrison Riley’s journey into real estate is anything but traditional. After building a small multifamily portfolio, he realized he didn’t enjoy the property management grind and decided to shift his focus toward raising capital and building partnerships.In this episode, Harrison shares the lessons he learned from painful contractor mistakes, why he ultimately divested from Pittsburgh to focus on larger deals in Cleveland, and how he approaches building long-term relationships with LPs. He also shares his bold take on combining Bitcoin with real estate—pairing two hard assets to combat inflation and generate stronger returns.Whether you’re an aspiring LP, a new GP, or curious about the future intersection of crypto and real estate, this episode will give you valuable insights on vetting sponsors, building trust, and structuring smarter deals.What You’ll Learn in This Episode:How Harrison grew a 17-property small-multifamily portfolio before pivoting into capital raisingThe $200K lesson he learned from a bad contractor deal—and how he structures partnerships differently todayWhy trust and transparency matter more than the deal itself when raising capitalBest practices for cultivating LP relationships without relying on cold lists or impersonal outreachThe case for pairing Bitcoin with multifamily real estate in the years aheadAre you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.NH Multifamily Fund III Details:Download The OM For The NH Multifamily Fund IIIAccess The Deal Room For The NH Multifamily Fund IIIConnect with Harrison:🌐 glassbeachventures.com🐦 Twitter/X: @HarryZag🏀 (Yes, he’ll also talk Gonzaga basketball if you ask!)Connect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

From professional water polo in Russia to raising capital for over 20 multifamily deals in the U.S., Igor Shaltanov’s story is all about resilience, discipline, and smart investing.In this episode, Igor shares how he went from renting out his mom’s spare apartment in Moscow to building a U.S. real estate business, starting with single-family homes before scaling into multifamily. He explains why he became an LP in 10 deals before actively investing, the lessons learned from both successful and failed partnerships, and how he approaches co-GP relationships today.We also discuss how Igor evaluates sponsors, what to look for in the capital stack, and why newer-vintage multifamily properties with assumable loans are especially attractive in today’s market.What You’ll Learn in This Episode:Igor’s journey from water polo athlete to multifamily investorWhy starting as an LP in 10 deals was the best education he could buyHow COVID revealed the importance of landlord-friendly statesWhat he learned from losing money in deals—and how to vet sponsors betterBest practices for structuring co-GP partnerships the right wayWhy loan assumptions and newer vintages (2000s+) are his current focusHow to think about timing the market when “nobody wants multifamily”Are you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.NH Multifamily Fund III Details:Download The OM For The NH Multifamily Fund IIIAccess The Deal Room For The NH Multifamily Fund IIIConnect with Igor:📩 Free course for single-family owners and investors available on his website: https://winrealestategame.com/Connect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

We all hear “conventional wisdom” in real estate—but sometimes, following it blindly can cost you big.In this solo episode, I share the five controversial real estate takes (or “hills I’m willing to die on”) that I feel strongest about. Some of these might challenge how you started your investing career. But if you’re a new or growing investor, these lessons will help you avoid costly mistakes and build a stronger foundation for your portfolio.What You’ll Learn in This Episode:Why working with a property manager early on can save you thousands in costly mistakesThe surprising reason non-accredited investors shouldn’t invest passivelyWhy 90% of advice from residential agents about investing is worthlessThe case for keeping your first deal simple—even if you don’t make much money on itWhy partnering too early can create bigger headaches than going soloAre you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.NH Multifamily Fund III Details:Download The OM For The NH Multifamily Fund IIIAccess The Deal Room For The NH Multifamily Fund IIIConnect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

In this episode, Axel sits down with Jason Yarusi—real estate investor, entrepreneur, and operator of a 3,000+ unit multifamily portfolio. Jason shares his journey from running bars and restaurants in New York City to building a thriving multifamily business in the Southeast. He talks about the lessons learned from his early days in construction, how a near-death experience changed his mindset, and why “focus” has been the key to scaling successfully.The conversation also dives deep into market selection, asset management best practices, and what it really takes to transition from small multifamily to large-scale acquisitions. Jason explains why he narrowed in on markets like Louisville and Nashville, how he leverages both in-house and third-party property management, and why consistency and follow-up often separate successful investors from those who fall short.Whether you’re just getting started or looking to scale your portfolio, Jason’s story is packed with lessons about resilience, execution, and the discipline of sticking to your investment criteria.Join us as we explore:How Jason pivoted from hospitality into real estate after a life-changing accident.The importance of being specific with your goals and investment criteria.Why narrow focus accelerates credibility with brokers, partners, and investors.The pros and cons of bringing property management in-house.How market dynamics in places like Louisville and Nashville shape acquisition strategy.Best practices for asset management and managing third-party property managers.Why follow-up is one of the most underrated tools for winning deals.Are you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.NH Multifamily Fund III Details:Download The OM For The NH Multifamily Fund IIIAccess The Deal Room For The NH Multifamily Fund IIIConnect with Jason:Follow him on InstagramConnect with him on LinkedinSubscribe to his YouTube channelVisit his WebsiteConnect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

What makes a multifamily deal truly irresistible? For us, it comes down to five specific attributes that signal, this is one we want to buy.In this solo episode, I break down the five “holy grail” characteristics we look for in deals—and why these features dramatically increase the odds of success. If you’re a value-add investor, you’ll likely be targeting similar opportunities.Join us as we explore:Why minimal systems CapEx and maximum value-add renos are the sweet spotThe management inefficiencies that create easy wins for experienced operatorsHow low rents with the right resident base set you up for scalable successWhy unit mix matters more than most investors realizeThe overlooked advantage of a collaborative seller (and how it impacts financing and deal structure)NH Multifamily Fund III Details:Download The OM For The NH Multifamily Fund IIIAccess The Deal Room For The NH Multifamily Fund IIIAre you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.Connect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

Join Mike Morawski, a resilient real estate veteran and author who rebuilt his $60M business after a decade in prison. He shares insights on navigating market cycles and the importance of strategic market selection to avoid chasing trends. Morawski discusses the risks of over-leverage in syndications and emphasizes the need for discipline and transparency for long-term success. His powerful journey highlights that even after catastrophic failure, reinvention and growth are possible through humility and calculated risks.