The Second Quarter As An Active Real Estate Investor (pt.2) Accountability Series podcast Season 2
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
Release Date: 07/18/2022
Episode 305. 5 Things I Got Completely Wrong About Multifamily
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
When I first got started in multifamily investing, I thought I had a pretty good understanding of how the business worked. I was listening to podcasts, reading books, attending networking events, analyzing deals, and trying to learn as much as possible. Like many new investors, I had a lot of assumptions about what it would take to succeed. Some of those assumptions were right. A lot of them were wrong. In this episode, I share five things I got completely wrong about multifamily investing and the lessons I've learned after buying, operating, and selling 194 units and continuing to own and...
info_outline
Episode 304. If I Lost Everything, Here's Exactly How I'd Rebuild in Multifamily Real Estate
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
What if you lost everything tomorrow? No portfolio. No apartment buildings. No broker relationships. No track record. Just your knowledge, your work ethic, and a desire to build wealth through multifamily real estate. In this episode, I walk through the exact roadmap I would follow if I had to start over from scratch in today's market. Not during the low interest rate boom. Not when every deal seemed to work. Right now. I break down the difference between being a Limited Partner (LP) and a General Partner (GP), why most aspiring investors skip important steps, and how I would strategically...
info_outline
Episode 303: Refis, Rising Rates, and a 44 Unit Nobody Wants to Buy
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
What does multifamily investing actually look like in today's market? In this episode, I pull back the curtain on what's happening inside my own portfolio right now. I'm dealing with a refinance on a 6-unit property after a planned sale fell apart. Rates moved almost immediately, changing the economics of the deal. At the same time, we're working through a refinance on our 13-unit portfolio while trying to position a 44-unit property for sale in a market where buyers seem hesitant to pull the trigger. I also share conversations I've had with other operators who are feeling the pressure from...
info_outline
Episode 302. Stop Waiting to Feel Ready
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
A lot of people want to get into multifamily real estate. Very few ever actually take action. In this episode, I talk about my own journey from growing up without money, becoming a teacher, working side hustles for years, and slowly building my way into multifamily apartment investing. My mom was on Section 8 for much of my childhood. My dad was a waiter. Nobody around me was talking about apartment buildings, financial freedom, ownership, or investing. I had to completely rebuild my mindset over time while learning how to operate in an entirely different world. I share how I went from...
info_outline
Episode 301. Most Multifamily Deals Still Don’t Work Right Now
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
In this episode, I talk about why most multifamily deals still do not work today even after prices have dropped from the peak market of 2021 and 2022. A lot of people hear that prices are down and assume everything suddenly became a good deal again. But debt is more expensive, insurance has exploded, taxes are rising, payroll and maintenance costs are up, and many sellers are still trying to sell based on unrealistic projections from years ago. I break down why I eliminate deals quickly, what I look for when underwriting, and why I would rather buy a conservative deal with fixed debt than...
info_outline
Episode 300. 300 Episodes Later — What This Business Has Taught Me
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
Episode 300 means a lot to me—not because of the number itself, but because of what it represents. Nearly six years of recording every week, continuing forward even when life was busy, stressful, or uncertain. In this episode, I take a step back and share what that consistency has taught me, not just about podcasting, but about multifamily investing and building something over time. I talk through how my expectations at the beginning didn’t match reality, how my understanding of deals and risk has evolved, and how experience has shaped the way I make decisions today. I also get into the...
info_outline
Episode 299. Why Most People Quit Before Their First Deal
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
Most people don’t quit multifamily because they’re not capable. They quit because what they thought this would be… and what it actually is… are two very different things. In this episode, I walk through what really happens when you start trying to get your first deal. The early excitement, the confusion when deals don’t make sense, the silence from brokers, and the long stretch where it feels like you’re putting in effort without seeing results. I also break down what it actually takes to stay in it long enough to get that first deal done. The patience, the repetition, the...
info_outline
Episode 298. You’re Not ‘Waiting’… You’re Not in the Game (Why You’ll Never See the Best Deals)”
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
“I’m just waiting for the right deal.” Sounds smart. Sounds disciplined. But most of the time? It’s not patience… it’s avoidance. In this episode, I break down what’s really happening when you say you’re “waiting” and why that mindset is keeping you out of the game completely. Because the truth is… You’re not missing deals you pass on. You’re missing the ones you never even see. The off-market opportunities. The broker relationships. The deals that get tied up before they ever hit your inbox. If you’re not in the mix, you don’t even know they exist. And that’s...
info_outline
Episode 297. Your First Multifamily Deal Won’t Cash Flow (And That’s Why You’re Still Broke)
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
Everyone wants their first multifamily deal to spit out cash flow from day one. That’s the dream they’ve been sold. Buy the deal. Collect rent. Quit your job. But in today’s market? That’s not how this game works. In this episode, I break down the truth most people don’t want to hear: Your first deal probably isn’t going to cash flow the way you expect… and that doesn’t mean it’s a bad deal. I’m talking about what’s actually happening right now in the market: higher debt, rising expenses, flat rents, and why deals feel “tight” or don’t pencil at all. More...
info_outline
Episode 296. Raising Capital for Multifamily in Today’s Market (It’s Not Easy)
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
In this episode, I talk about what it’s actually like to raise capital for multifamily deals in today’s market. It’s not easy. I’m currently operating 90 units and actively working on deals, and I can tell you firsthand—raising money right now is very different than it was a few years ago. Investors are more cautious. Conversations are slower. Some people aren’t investing at all. I break down: Why capital raising has become more difficult What investors have seen over the past few years How deals that looked strong didn’t always perform Why transparency and honesty matter more...
info_outlineWelcome back to Small Axe Communities Podcast!
We are back with the second season and second episode of The Accountability Series. All of these participants have varying levels of experience in real estate, but not necessarily in commercial multi-family real estate. And that's what they're looking to do breaking into that space.
Nico meets with each of the participants once a quarter to track their progress. The objective is to see what it takes to become successful in this space over the course of a year. Every we quarter we come back and listen to what progressed they gained, acquired, and learned!
Let’s listen to Alex Tam, Chris Southerland Jr., and Christina Kovacs as they share their journey with us!
[00:01 - 15:23] Alex Tam Segment
- Alex and his wife Helen are both very involved in real estate and bring their daughter around to different events.
- Every time Alex meets up in person or attends a conference, he comes out with so much energy and ideas.
- Alex shares how to Find and Hire a Virtual Assistant
- By that aspect of it, the VA is very helpful in running a business.
- Helen and Valerie have started a separate company specifically for VA's, which helps businesses save money.
- They advise using the right platforms for finding a VA, such as Facebook, online jobs.ph, and other online sources.
- They also play a role in HR, ensuring that the VA is working on schedule and meeting the expectations of the business
- Follow Alex Tam
- See Links Below
- Quick Ad: Nico Invites you to join Jake’s & Gino’s Multifamily Mastery 5 in Florida this coming November 2022 If you’re joining, Nico Salgado offers early bird pricing for you! All you got to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at nico@smallaxedcommunities.com to get the code that you can use to avail a discount!
[16:46 - 31:27]Chris Southerland Jr. Segment
- Chris is based out of the Dallas, Texas area and is working as a cybersecurity professional
- He has been networking hard and has gotten into two LP deals in the past couple of months
- Chris is in the process of raising capital to join his third deal, which will be a Joint Venture
- LP deals are a good strategy for Nico because he can invest passively and get an education while someone else uses his money
- Debt Retreats Affecting Home Buying
- The current debt situation is causing lenders to retrace borrowers, which has impacted the ability of people to buy homes.
- People are still buying homes despite high-interest rates, and the market is slowly adjusting to the changes.
- Chris's plan for the next few months is to get into one JV deal
- Follow Chris Southerland Jr.
- See Links Below
[31:27 - Christina Kovacs
- Christina is a real estate broker in South Florida and is also invested in multifamily real estate
- She has two deals closed this past quarter and is also closing on a short-term rental tomorrow
- Her single-family residential sales have been successful, but she's interested in expanding into the multifamily
- Christina is transparent about her investment strategy and how it has worked in the past
- Networking Can Lead to Multifamily Deals
- She has shifted its focus from short-term rentals to multifamily and is looking for a team of people to help them with the process.
- Her team are networking with people in order to find the right opportunity and partners.
- Networking is important, and Christina recommends writing down notes from each networking call in order to remember what was discussed
- Follow Christina Kovacs
- See Links Below
CONNECT WITH THEM:
Alex Tam:
Follow him on Facebook
or email him through alex@zephyrequitygroup.com
Visit their website at zephyrequitygroup.com/
Chris Southerland Jr:
Follow him on Linkedin
Reach him through his email at chrisjr@tryhardcapital.com
Visit their website tryhardcapital.com
Christina Kovacs
Follow her on Facebook and LinkedIn
Visit their website https://www.christinakovacs.com/
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
I believe that you only need a small axe to build a lasting empire. Let’s start building yours!
To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook, or check out my website https://smallaxecommunities.com/ and book a call with me.
Tweetable Quotes
“People ask me, what can a VA do? I said, no, the question you should ask is what can a VA not do?” - Alex Tam
“Making actual, genuine relationships with people that you can use to build off of each other and improve each other's lives.” - Chris Southerland Jr.
“It's all these markets that we never considered because it's just unnecessary. Why not? People are making things happen there? Why don't we follow the people who are experts in that area and then build up and then who knows what deals come within that market once you're in that market.” - Christina Kovacs