The Multifamily Wealth Podcast

Are you making the right partnership decisions in real estate? Find out the one question you need to ask yourself before diving into a partnership in this episode!For this edition of Multifamily Wealth Podcast, we deep dive into the importance of evaluating potential partnerships in real estate by asking a crucial question: Can I hire somebody to do the work this individual is going to do? We explore the common pitfalls of partnering without considering the replaceability factor, discuss examples of easily outsourced roles, and highlight the key pillars of successful real estate partnerships. Here, you’ll learn how to avoid partnership dissension and make strategic decisions in your real estate ventures.Key points covered in this episode: - The importance of considering whether the skills of a potential partner are easily replaceable by hiring someone in the open marketplace - Examples of partnerships in real estate investing and how to determine if a partner's role justifies giving up equity - Identifying roles in the investing process that are not easily outsourced, such as finding great deals, raising capital, and overseeing operations at a strategic levelStruggling to find good multifamily deals? Looking to close deals with less of your own money? Want to operate like the pros and maximize the cash flow of your assets? Join The Multifamily Wealth Community, where we help multifamily investors start, build, and scale their businesses… specifically, those looking to grow from 1-10 units to 250+ units.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.Connect with Axel:Follow him on InstagramConnect with him on LinkedInSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

What's going on, everybody? In this episode, I had the pleasure of chatting with Ryan Corcoran, a seasoned real estate investor based in New England with a portfolio of hundreds of multifamily units and numerous successful flips. Ryan has been on the show before, and it's always a treat to dive into his wealth of knowledge, especially when it comes to direct-to-seller marketing for multifamily deals. He has built a team to handle the high volume of leads and deals, allowing him to focus on acquisitions and growth strategies.Here are some of the topics we covered: - The importance of personalization in direct mail, especially for multifamily properties - Why having a VA to handle backend tasks is important - The significance of having a strong CRM system to handle leads and follow-ups - What is a good balance between active income from flips and long-term wealth building through buy-and-hold strategies - How Ryan tailors his marketing and investment strategies based on the specific characteristics of each market - The value of consistency and follow-up in building relationships with potential sellersStruggling to find good multifamily deals? Looking to close deals with less of your own money? Want to operate like the pros and maximize the cash flow of your assets? Join The Multifamily Wealth Community, where we help multifamily investors start, build, and scale their businesses… specifically, those looking to grow from 1-10 units to 250+ units.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.Connect with Axel:Follow him on InstagramConnect with him on LinkedInSubscribe to our YouTube channelLearn more about Aligned Real Estate PartnersConnect with Ryan:Follow him on InstagramDiscover him on TikTokVisit his YouTube channelPrevious podcast episode with Ryan Corcoran:Episode 159:Listen on Apple Podcasts (iTunes):https://podcasts.apple.com/us/podcast/159-using-direct-mail-to-buy-hundreds-soon-to-be-thousands/id1511607285?i=1000616805660Play on Spotify:https://open.spotify.com/episode/5cwBae8v8QW58vf7nnEeoN?si=ea5721375a624de8Episode 95:Listen on Apple Podcasts (iTunes):https://podcasts.apple.com/us/podcast/95-buying-150-units-in-2-years-and-how-to-tactically/id1511607285?i=1000580792109Play on Spotify:https://open.spotify.com/episode/5BZcxvIzKXOPVRl0Fskotq?si=06e138ceb9554264

Are you struggling to find the perfect property management company for your multifamily investments? Discover the five crucial components you need to consider before making that decision in this eye-opening episode!In this quick solo episode, we look into the critical things to consider while evaluating possible property management businesses. We cover everything from the value of prior experience managing similar assets to the importance of specialist staff and in-house maintenance.Key points covered in this episode: - The importance of experience in managing similar assets - Why specialized staff and scale matter - The benefits of in-house maintenance - The need for robust and thorough accounting and reporting - What makes a well-developed leasing processStruggling to find good multifamily deals? Looking to close deals with less of your own money? Want to operate like the pros and maximize the cash flow of your assets? Join The Multifamily Wealth Community, where we help multifamily investors start, build, and scale their businesses… specifically, those looking to grow from 1-10 units to 250+ units.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.Connect with Axel:Follow him on InstagramConnect with him on LinkedInSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

Curious about the top strategies for tenant selection that will save you time and money? In this episode of the Multifamily Wealth Podcast, I sit down with my good friend and business partner, Ryan Weiss. Ryan is the principal broker, director of property management, and my founding partner in our management company, Blue Door Living. Blue Door Living specializes in managing small to midsize multifamily properties throughout New Hampshire.The conversation goes into the challenges and successes of scaling a management company, emphasizing the importance of tenant selection as a key component of successful property management. Ryan also highlights the significance of delegation, working with global talents, and the essential aspects of effectively managing multifamily real estate.In this episode, we discuss: - What are the key challenges faced in growing a property management business from 40 units to over 700 units in just three and a half years? - How did Ryan’s personal journey as a real estate investor and business owner contribute to the growth of the management company? - What were the strategic hires made during the growth stages of the management company, from 50 units to 250 units? - How did Ryan overcome the challenges of fear and ego when delegating tasks and responsibilities within the business? - What are the top three pillars of successful property management according to Ryan, with tenant selection being the top priority? - How does Ryan emphasize the importance of tenant selection and being a good landlord in maintaining a successful property management business? - What are the future challenges and strategies for growth as the management company aims to expand to managing 1,000 units and beyond?Struggling to find good multifamily deals? Looking to close deals with less of your own money? Want to operate like the pros and maximize the cash flow of your assets? Join The Multifamily Wealth Community, where we help multifamily investors start, build, and scale their businesses… specifically, those looking to grow from 1-10 units to 250+ units.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.Connect with Axel:Follow him on InstagramConnect with him on LinkedInSubscribe to our YouTube channelLearn more about Aligned Real Estate PartnersConnect with Ryan:Connect with him on LinkedInLearn more about Blue Door Living

Are you making this critical mistake in your underwriting process? Discover why your assumptions need to change when underwriting lower class rentals versus higher class properties in this eye-opening episode of the Multifamily Wealth Podcast.In this episode, we delve into the significant differences in underwriting lower class (C-class) rentals compared to higher class (A-class) properties. We explore common mistakes investors make in underwriting, such as using the same vacancy rates and maintenance expenses for all properties.By using the example of buying a cheap house versus an expensive house, we illustrate how adjusting your underwriting assumptions based on the property class can lead to more accurate financial projections and better investment decisions. Tune in to learn why a one-size-fits-all approach to underwriting doesn't work and how to optimize your analysis for different types of multifamily assets.Key points covered in this episode: - The importance of adjusting underwriting assumptions for different property classes - Why is the use of percentage of gross income for repairs and maintenance not the right approach? - The impact of tenant class on repairs and maintenance expenses in real estate investments - How does the quality of the property affect repair and maintenance costs, regardless of rent prices? - The potential for higher cash on cash returns in slightly more premium properties due to incorrect expense assumptionsStruggling to find good multifamily deals? Looking to close deals with less of your own money? Want to operate like the pros and maximize the cash flow of your assets? Join The Multifamily Wealth Community, where we help multifamily investors start, build, and scale their businesses… specifically, those looking to grow from 1-10 units to 250+ units.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.Connect with Axel:Follow him on InstagramConnect with him on LinkedInSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

Zach Hoereth, an investor specialized in small to midsize multifamily deals in the Midwest, shares his journey to building a 200+ unit portfolio. He discusses effective direct-to-seller strategies, emphasizing the power of persistent follow-up. With anecdotes about navigating market challenges and leveraging single-family homes for wealth, Zach offers insights on conducting due diligence from afar. He also reveals his future goals, including a focus on self-storage facilities, and highlights the importance of collaboration and relationship-building in the industry.

Are you struggling to keep your multifamily property fully occupied? In this episode of the Multifamily Wealth Podcast, we dive into the crucial topic of resident retention strategies.From the importance of rent pricing to the timing of renewal discussions, we explore practical tips to increase renewals and minimize turnover. Join us as we discuss the key tactics for creating win-win situations for both operators and residents, ultimately boosting your property's profitability.Key points covered in this episode: - How can you increase resident retention at your multifamily property? - Why is it important to avoid pushing rent to market or above market upon lease expiration? - When should you start the renewal process with residents? - What are the benefits of offering longer lease options at the initial lease-up? - How can building specific relationships with residents impact renewal rates? - What personalized approaches can you take to improve resident retention? - Why is resident retention becoming increasingly important in the current rental market?Struggling to find good multifamily deals? Looking to close deals with less of your own money? Want to operate like the pros and maximize the cash flow of your assets? Join The Multifamily Wealth Community, where we help multifamily investors start, build, and scale their businesses… specifically, those looking to grow from 1-10 units to 250+ units.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.Connect with Axel:Follow him on InstagramConnect with him on LinkedInSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

Are you losing sleep over your real estate investments? In this episode, we explore the challenges faced by investors dealing with high debt levels in their portfolios. We discuss scenarios where investors may find themselves over-leveraged, strategies to optimize property performance, and the importance of evaluating when to hold or sell properties. I’ve also shared some insights on the decision-making process, the nuances of losing capital in deals, and the various options available to investors to navigate through turbulent market times.Key points covered in this episode: - Identifying signs of over-leveraging in different property scenarios - Strategies to optimize property performance and increase cash flow - Evaluating the decision to hold onto or sell underperforming assets - Exploring alternative solutions beyond the binary options of hold or sell - The importance of rational decision-making in turbulent market conditionsStruggling to find good multifamily deals? Looking to close deals with less of your own money? Want to operate like the pros and maximize the cash flow of your assets? Join The Multifamily Wealth Community, where we help multifamily investors start, build, and scale their businesses… specifically, those looking to grow from 1-10 units to 250+ units.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.Connect with Axel:Follow him on InstagramConnect with him on LinkedInSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

For this edition of Friday Feedback, we address some of your most pressing queries, going over subjects like managing workload while expanding your portfolio, choosing multifamily properties with the best return on investment, and modifying underwriting techniques in the present market.We break down the key factors to consider when renovating multifamily properties, share insights on navigating the changing market landscape, and provide valuable advice on balancing property management with portfolio expansion.Here are some of the questions we’ve received:01:09 - "I'm looking to set my budget for an upcoming project that I'm closing, and I want to allocate my dollars most effectively towards the highest ROI renovations within the property. Can you talk about what you found to be the highest ROI return on investment renovations when renovating a multifamily property?"08:22 - "I don't have confidence in my underwriting right now when I'm looking at deals, having a hard time figuring out what to pay. And I don't know how to adjust my underwriting given the changes in the marketplace."12:47 - "I am getting burnt out with managing my own units while also trying to grow my portfolio, such as finding deals, underwriting deals, meeting investors, etc. How do you recommend I manage the workload so that I don't burn myself out while trying to grow my business?"Struggling to find good multifamily deals? Looking to close deals with less of your own money? Want to operate like the pros and maximize the cash flow of your assets? Join The Multifamily Wealth Community, where we help multifamily investors start, build, and scale their businesses… specifically, those looking to grow from 1-10 units to 250+ units.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.Connect with Axel:Follow him on InstagramConnect with him on LinkedInSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

Mortgage broker Pat Brady shares insights on current debt environment and working with local/regional banks. He discusses the importance of being a great borrower, New England's lack of distress in multifamily sector, and tips for navigating the lending landscape. Topics include changes in lending market, cap rate shifts, deposit requirements, and understanding real estate financing challenges.