Episode 301. Most Multifamily Deals Still Don’t Work Right Now
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
Release Date: 05/11/2026
Episode 310: The Hidden Cost of Success
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
Success always comes with a price. The question is... what are you willing to pay? In this episode, I share the hidden cost of building a life and business that most people only see from the outside. We often celebrate the wins, but we rarely talk about the tradeoffs—the time, energy, responsibility, missed opportunities, difficult decisions, and constant problem-solving that come with pursuing meaningful goals. I talk about balancing teaching, multifamily real estate, podcasting, waiting tables, surf instruction, family, and everything else that fills my days. Along the way, I reflect on...
info_outline
Episode 309: What My "Summer Vacation" Actually Looks Like
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
In this episode, I'm pulling back the curtain on what my "summer vacation" actually looks like. Most people assume life slows down when school ends. For me, it's the exact opposite. I share what it's like balancing teaching, waiting tables, surf instruction, family life, and running a growing multifamily real estate portfolio. We dive into the challenges of a struggling fix-and-flip, two complex refinances, a potential apartment sale, and the constant problem-solving that comes with investing at this level. Along the way, I also share a story from a recent camping trip with my daughter that...
info_outline
Episode 308: Success Leaves a Mess
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
Success doesn't usually show up after everything is organized. It usually shows up while life still feels messy. In this episode, I talk about a lesson that has become more obvious to me with every year of investing, business ownership, and entrepreneurship: success leaves a mess. We often look at successful people and assume they have everything figured out. Perfect systems. Perfect partnerships. Perfect businesses. Perfect lives. The reality is usually the opposite. Behind every successful investor, entrepreneur, or business owner is a constant stream of challenges, uncertainty, mistakes,...
info_outline
Episode 307. Why Most People Should Probably Be LPS
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
Most people look at multifamily real estate and see the benefits: Cash flow. Equity growth. Tax advantages. Financial freedom. What they don't see is everything happening behind the scenes. In this episode, I pull back the curtain on what it's really like to be a general partner operating apartment buildings. I'm currently navigating multiple refinances, property sales, partner negotiations, CapEx issues, lender requirements, insurance concerns, taxes, and acquisition opportunities—all while working multiple jobs and trying to be present for my family. This isn't meant to scare anyone away...
info_outline
Episode 306. Why Most Investors Quit Before They Get Good
Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires
One thing I've noticed over the years is that most investors don't fail because they're incapable. They fail because they quit too soon. They look at a handful of deals, make a few offers, get ignored by brokers, face some rejection, and decide that real estate doesn't work. But that's not how any skill works. Nobody picks up a guitar and becomes a musician overnight. Nobody paddles into their first wave and looks like a surfer. Nobody walks into a boxing gym and knows how to fight. And nobody becomes a great real estate investor after underwriting three deals. In this episode, I talk about...
info_outline
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_outlineIn 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 gamble on appreciation or refinancing assumptions I cannot control.
I also talk about:
• Why floating debt crushed so many operators
• Why occupancy and collections are becoming more difficult
• How taxes and insurance can destroy a deal after closing
• Why cash flow matters more than hype right now
• The difference between underwriting for reality versus underwriting for hope
• Why survival and durability matter more than flashy projections
This episode is for anyone trying to understand what is really happening in today’s multifamily market and how experienced operators are adjusting their approach.
If you want to learn how to properly analyze and underwrite multifamily deals, check out my Multifamily Machine cohort and free resources here:
stan.store/buybuildings
If you enjoyed the episode, share it with somebody who is trying to learn multifamily real estate the right way.
#multifamily #realestateinvesting #apartmentinvesting #cashflow #underwriting #smallaxe #multifamilyinvesting