What does it actually take to close a multifamily deal forty five minutes before wire cutoff on New Year's Eve and save your investors millions in taxes?

In this episode, I sit down with Carl Pankratz, President and Managing Director of Blackacre Commercial and HUD Multifamily Financing Expert who has been involved in over a billion dollars in real estate transactions. Carl is also a Professor at Texas Tech University's Rawls College of Business, a former city councilman, and was recently appointed by Governor Greg Abbott to study the use of land banks throughout Texas.

We get into lessons from the 2008 financial crisis, where the lending market is headed, and why competent operators matter more than ever right now. Carl also shares how he approached one of our recent deals together and what it took to get it closed on December 31st.

If you are newer to real estate and trying to figure out who to trust and how to build the right team, this episode is for you.

Timestamp

00:00 Intro

01:26 Who is Carl Pankratz and how he got into commercial real estate

06:09 Why liquidity and operator quality matter more than ever right now

10:01 How global events and oil prices affect commercial real estate financing

11:49 Why the 10-year Treasury is the number to watch for deal flow

13:32 What the current lending environment looks like for multifamily buyers

15:12 Why 1980s assets are some of the best basis plays in today's market

21:13 How we closed a multifamily deal 45 minutes before wire cutoff on December 31st

26:27 What it means to have the right team in your corner on every deal

28:04 Advice for new real estate investors getting started today

29:34 Why matching your debt term to your hold strategy is so important

31:26 Why competence matters more than projected returns in today's environment

What We Cover

Key Takeaways

Connect with Carl Pankratz

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🌍 Website: https://www.apogeemfc.com/
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 What if the biggest tax advantage in real estate is one most investors have never heard of?

In this episode, I sit down with Yonah Weiss, Business Director at Madison SPECS, the largest national cost segregation company in the country. Yonah has helped property owners save over a billion dollars in taxes, spent fifteen years as a teacher before getting into real estate, and hosts the top-rated Weiss Advice podcast.

We break down exactly what cost segregation is, how it works, and why it can mean the difference between a massive tax bill and paying nothing at all. Yonah also explains how bonus depreciation works, who can actually use these deductions, and what the short-term rental loophole means for W-2 earners who want to pay less to the IRS.

Timestamp

00:00 Intro

02:58 Why most real estate investors have never heard of cost segregation

04:31 How closing a deal saved me nearly $100,000 in taxes

05:59 What is depreciation and how does it work in real estate investing

07:23 What is cost segregation and how does the engineering study work

10:04 The five year and fifteen year depreciation buckets explained

11:40 What is bonus depreciation and how does it supercharge your tax savings

18:29 How limited partners in syndications benefit from cost segregation

20:21 What depreciation recapture actually means when you sell a property

24:41 What property size makes cost segregation worth doing

26:21 The short-term rental loophole for W-2 earners explained

29:53 Can the short-term rental strategy actually replace your W-2 income

31:26 Active vs passive real estate investing and how cost seg applies to both

32:24 How to build a powerful network in commercial real estate through LinkedIn

What We Cover

Key Takeaways

Connect With Yonah Weiss

Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode!

Connect With Me
🌍 Website: https://www.apogeemfc.com/
📸 Instagram: https://instagram.com/multifamilyengineer
💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/
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What is actually stopping you from buying your first piece of real estate?

In this solo episode, I break down the most common ways to get started in real estate investing and the real pros and cons of each one. After almost a decade in this business, I have watched a lot of people get started, and I have watched even more talk themselves out of ever starting. So today I want to walk you through your options and help you pick one.

I cover the house hack, single family rentals, fix and flips, and alternative strategies like short term rentals, along with the real numbers behind each one so you know what you are actually getting into. I also explain the difference between residential and commercial real estate, why that distinction matters so much for how a property is valued, and how to think about getting started in multifamily as either a passive or active investor.

Timestamp

00:00 Intro

01:48 The number one reason people never start investing in real estate

04:42 How to house hack your first property

09:22 Buying your first single-family rental property

14:08 How the fix and flip strategy works

16:34 The BRRRR method buy, renovate rent, refinance, repeat

18:48 Residential vs commercial real estate explained

20:51 Alternative rental strategies like short-term rentals and ADUs

23:36 Why commercial multifamily real estate scales better than residential

26:59 Passive investing as a limited partner in multifamily

28:24 Becoming a general partner in multifamily real estate

30:51 How to pick a real estate investing strategy and get started

What We Cover

Key Takeaways

Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode!

Connect With Me
🌍 Website: https://www.apogeemfc.com/
📸 Instagram: https://instagram.com/multifamilyengineer
💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/
✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

What does your lender actually need to see before they say yes to your first multifamily loan?

In this episode, I sit down with Julie Anne Peterson, affectionately known as the First Lady of Lending and Senior Director at Old Capital Lending, one of the largest mortgage brokers in Texas. Julie is not just a lender. She owns and operates multifamily assets, capital raises, and hosts Zoom at 8 every Tuesday night to educate and connect investors across the country.

We walk through the blueprint for getting your first multifamily loan, from understanding your personal financial statement to assembling the right team before you ever put a deal under contract. Julie breaks down the difference between agency and bank loans, how to match your debt to your business plan, and why the prepayment penalty conversation is one most operators are not having early enough.

We also talk about what limited partners should be looking for when they review a deal, the red flags to watch for in underwriting, and the questions every passive investor should be asking before they write a check.

If you are new to multifamily and feel like the lending side is the most confusing piece of the puzzle, this episode will change that.

Timestamp

00:00 Intro

02:33 Why invest in real estate

03:27 Real estate is not a get-rich-quick strategy

04:13 Real estate as a hard asset

05:40 How real estate generates cash flow

06:34 How leverage increases returns

08:50 Tax advantages of real estate

11:37 The 4 ways real estate makes money

16:07 Different real estate investing strategies

18:02 Multifamily vs single-family investing

24:53 Risks of real estate investing

27:14 Long-term strategy for building wealth

What We Cover

Key Takeaways

Connect with Julie Anne Peterson

Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode!

Connect With Me
🌍 Website: https://www.apogeemfc.com/
📸 Instagram: https://instagram.com/multifamilyengineer
💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/
✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

Why are partnerships so important in multifamily investing?

In this episode, I sit down with Ryan Morehead and Kevin McCarthy from Westline Equity to talk about their journeys into real estate, how they built their partnership, and what they’ve learned from getting into larger multifamily deals. Ryan brings decades of experience in multifamily property management, brokerage, and family real estate operations, while Kevin started with small single-family and multifamily properties before scaling into larger deals.

We talk about why multifamily is rarely a solo business, how the right partners can help you move faster, and why each person on a team needs to bring a different skill set to the table. Ryan and Kevin share how Westline Equity came together, how they think about underwriting, acquisitions, capital raising, mentorship, and why building a strong team has been one of the biggest keys to their growth.

We also get into their first large multifamily deal, the challenges they faced with lending, operations, seller communication, and investor updates, and the lessons they took from that experience. Toward the end, we discuss why they’re excited about the Dallas-Fort Worth market today, what they’re seeing in current valuations, and what advice they would give to investors who are just getting started.

Timestamp

00:00 Intro

01:05 Meet Ryan Morehead and Kevin McCarthy

02:06 Kevin’s journey from single-family investing to multifamily

04:45 Ryan’s background in multifamily property management

07:24 Why investors do not need to start with 100-unit deals

08:55 Why partnerships matter in multifamily investing

13:48 The role of mentorship in real estate

17:37 Lessons from their first large multifamily deal

21:12 Conservative underwriting and investor communication

25:01 Finding deals and raising capital

28:52 The future of Westline Equity

32:27 Why DFW may be a strong buying opportunity

37:25 Advice for new multifamily investors

What We Cover

Key Takeaways

Guest Resources

Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode!

Connect With Me
🌍 Website: https://www.apogeemfc.com/
📸 Instagram: https://instagram.com/multifamilyengineer
💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/
✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

Planning to become a general partner in multifamily real estate?

In this episode, I break down what it actually looks like to become an active investor in multifamily real estate, especially if your goal is to become a general partner on larger commercial deals. I explain the difference between limited partners and general partners, what each role is responsible for, and why being a GP is not as passive as many people think.

I walk through the main responsibilities of a general partner, including acquisitions, capital raising, and asset management. I also share the common paths people take to get into their first multifamily deal, whether that means scaling up from smaller rentals, finding your own deal, or joining an experienced sponsor as a co-GP.

I also share part of my own journey from single-family investing into multifamily syndications, why mentorship helped Paula and me get started, and how Apogee Advisory now helps new and experienced investors build the skills, confidence, and network needed to grow in this business. If you want to move from passive interest to active participation in multifamily investing, this episode will give you a clearer starting point.

Timestamp

00:00 Intro

00:34 Who this episode is for

01:41 What is a multifamily syndication

02:55 Limited partners vs general partners

03:40 Why being a GP is not passive

04:26 The main roles of a general partner

05:47 Capital raising in multifamily deals

07:16 Asset management and deal execution

08:03 How to get started as a general partner

10:48 Finding your first deal or joining as a co-GP

13:39 My journey from single-family to multifamily investing

16:02 Apogee Advisory, mentorship, and mastermind programs

18:24 The reality of being active in multifamily investing

19:21 When being an LP may be the better fit

What I Cover

Key Takeaways

Resources

Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode!

Connect With Me
🌍 Website: https://www.apogeemfc.com/
📸 Instagram: https://instagram.com/multifamilyengineer
💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/
✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

What opportunities are multifamily investors seeing in today’s market and what should investors be paying attention to heading into 2026?

In this episode, Marcus Long and I break down the current state of the multifamily market, including interest rates, distressed opportunities, refinancing challenges, transaction trends, and what we’re seeing as active operators in today’s environment. We also share several real-world case studies from our own portfolio, and walk through how we approached acquisitions, asset management, refinancing, and exits in a difficult market cycle.

We talk about why today’s market conditions are creating unique buying opportunities, how higher interest rates have impacted multifamily operators, and why broker relationships, strong asset management, and conservative underwriting matter more than ever right now. We also discuss why we remain optimistic about multifamily investing this 2026, particularly in markets like Dallas-Fort Worth and Oklahoma City.

Head on to our YouTube channel to see the graphs: https://youtu.be/dUO4RWoM_OY

Timestamp

00:00 Intro

00:32 Multifamily investing State of the Union

03:43 Track record and NOI growth across past deals

05:11 Interest rates and how they impact real estate

08:15 Cap rates, Treasury yields, and rental demand

11:30 Multifamily transactions, distress, and refinance risk

15:20 2025 strategy and portfolio case studies

15:55 Parkside Apartments refinance and 50% capital return

17:46 Sierra Condos full-cycle exit

19:12 Townhouse Apartments acquisition story

22:57 2026 multifamily acquisition strategy

26:20 What investors can control in today’s market

What We Cover

Key Takeaways

Resources

Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode!

Connect With Me
🌍 Website: https://www.apogeemfc.com/
📸 Instagram: https://instagram.com/multifamilyengineer
💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/
✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

How do you build wealth in real estate without trying to do everything yourself?

In this episode, I sit down with Marcus Long, husband, father, Founder of A Long Legacy Capital, and one of my long-time business partners. After 21 years as a Naval Officer, Marcus transitioned into real estate full-time and has invested across single-family rentals, private lending, a cattle farm, and as a General Partner on over 1,600 multifamily units.

We talk about how Marcus moved from building a smaller rental portfolio to partnering on larger multifamily deals, and why partnerships are such a critical part of scaling in commercial real estate. Marcus shares how to think about choosing the right partners, understanding your role in a deal, and finding investment strategies that actually align with your goals.

We also get into raising capital, educating investors, evaluating markets, and the bigger purpose behind building wealth. Marcus shares how the idea of legacy shapes his work, his family, and the way he serves others through financial education and the 7 Figure Foundation.

Timestamp

00:00 Intro

00:49 Marcus Long and his real estate journey

04:31 From military service to multifamily investing

07:39 How to find the right real estate partners

12:05 The key roles in multifamily syndications

13:31 Today’s multifamily market opportunities

19:08 How Marcus evaluates real estate markets

21:15 Raising capital and building investor trust

24:56 Real estate vs other investment strategies

28:38 Building wealth, legacy, and purpose

34:35 Advice for new real estate investors

What We Cover

Key Takeaways

Connect with Marcus:

Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode!

Connect With Me
🌍 Website: https://www.apogeemfc.com/
📸 Instagram: https://instagram.com/multifamilyengineer
💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/
✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

What does it take to survive and succeed in multifamily real estate during one of the toughest markets in recent years?

In this episode, I sit down with Bruce Fraser, Managing Partner at Elkhorn Capital Partners and former hedge fund manager, to talk about the realities of multifamily investing in today’s environment. Bruce shares how his background in macroeconomics and managing public market investments shaped his approach to real estate, why he sold all of his partnership’s real estate holdings before the 2008 housing crash, and how that experience influences the way he invests today.

We talk about why Elkhorn focuses on distressed acquisitions, the risks of floating rate debt, and why Bruce believes many investors underestimated the dangers of the last market cycle. We also break down why Oklahoma became a major focus market for Elkhorn, how they approach buying broken properties, and why bringing property management in-house became one of the most important decisions for their business.

We also get into interest rates, inflation, market cycles, forced appreciation, and what investors should actually be paying attention to in today’s market. If you want a more data-driven and macro-focused perspective on multifamily investing, this episode is packed with insight from someone who has successfully navigated multiple market cycles.

Timestamp

00:00 Meet Bruce Fraser and Elkhorn Capital Partners

01:27 From hedge fund manager to multifamily investing

04:34 Why Bruce chose Oklahoma over Dallas

07:35 Distressed multifamily acquisitions explained

08:52 Why floating-rate debt hurt so many operators

10:51 Buying distressed assets and forcing appreciation

12:24 Why Elkhorn brought property management in-house

17:53 Real estate versus the stock market as a long-term investment

23:01 How in-house management drives expense reduction and forced appreciation

25:03 What Bruce is seeing in the multifamily market today and why he is buying

29:57 Where interest rates are headed and what it means for real estate investors

33:56 Advice for anyone just getting started in real estate investing

What We Cover

Key Takeaways

Guest Resources

Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode!

Connect With Me
🌍 Website: https://www.apogeemfc.com/

📸 Instagram: https://instagram.com/multifamilyengineer

💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/

✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

What does it actually take to survive and keep buying multifamily deals in today’s market?

In this episode, I sit down with Reed Goossens, an Australian real estate entrepreneur, investor, author, and public speaker who moved to the US in 2012 and has since been involved in the acquisition of over $650 million worth of US real estate. Reed also hosts the Investing in the U.S. Podcast, where he interviews top real estate investors to help educate entrepreneurs looking to break into the US market.

We get into how the multifamily market got to where it is today, what smart operators are doing differently right now, and why Reed believes this is still one of the best buying opportunities in recent memory. He also shares how he has been getting creative with capital raising, why he started acquiring accounting firms alongside multifamily, and what the 1031 exchange landscape actually looks like for sponsors trying to close deals today.

If you want a real conversation about what’s happening in multifamily today from operators still actively in the market, this episode is packed with valuable insight.

Chapters

00:00 Introduction to Reed Goossens and RSN Property Group

00:45 How an Australian engineer ended up in US multifamily real estate

02:32 Why multifamily at scale only exists in the United States

04:41 How the multifamily market changed over the last decade

07:32 How technology transformed commercial real estate investing

08:13 Multifamily investing vs buying small businesses

10:54 What LPs and GPs should look for in deals today

13:04 What strong asset management looks like in a soft market

16:36 Raising capital in today’s environment

19:38 How 1031 exchange investors fit into a syndication deal

25:31 What Reed sees coming in multifamily over the next five years

25:57 Advice for newer investors just getting started in real estate

What We Cover

Key Takeaways

Hit follow or subscribe wherever you're listening, and I'll see you in the next episode!

Guest Resources

Connect With Me
🌍 Website: https://www.apogeemfc.com/
📸 Instagram: https://instagram.com/multifamilyengineer
💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/
✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact