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How a Toledo Firefighter Built a 300-unit Multifamily Portfolio
Episode Summary
In this episode of Groundbreakers, Thomas St. John, founder of North Corp Capital and a full-time firefighter, shares how he built a 300-unit multifamily portfolio from the ground up while serving his community. Starting with single-family rentals in 2006, Thomas’s journey is a testament to grit, discipline, and learning through experience.
He opens up about the creative financing methods that helped him buy properties during the 2008 crash, the hard lessons from losing six figures in a bad deal, and how those challenges shaped his mission to protect investors and build a platform rooted in transparency and trust.
Key Points Discussed
- From Firefighter to Founder: Thomas shares how his entrepreneurial drive led him from shift work at the firehouse to managing a multimillion-dollar real estate portfolio—and why it took nine years to buy his first multifamily property.
- Creative Financing in the 2008 Crash: When banks stopped lending, Thomas got creative—using credit cards, hard money, and even crowdfunding platforms like Lending Club to keep growing his portfolio through the downturn.
- Lessons from a Six-Figure Loss: After losing a major investment with an underperforming GP, Thomas launched North Corp Capital to raise capital responsibly and vet sponsors with the same diligence he brings to his own deals.
- Due Diligence and Discipline: Thomas breaks down his process for evaluating deals, from stress-testing pro formas to flying out and walking every property in person. His rule of thumb: “I have to be okay selling it tomorrow—or holding it forever.”
- Building a Fund of Funds: Through North Corp Capital, Thomas helps everyday investors access top-tier multifamily deals with lower minimums via SPV structures, allowing them to benefit from institutional-quality opportunities.
Guest Information
- Name: Thomas St. John
- Role: Founder at Northcorp Capital
- Website: North Corp Capital
- LinkedIn: Thomas St. John
Conclusion
Thomas St. John’s story is proof that persistence and integrity pay off. From working 24-hour shifts as a firefighter to building a respected real estate investment firm, he’s shown that consistency and strong values can outlast any market cycle.
Connect with Thomas on LinkedIn to learn more about his work at Northcorp Capital and how he’s helping investors participate in vetted, high-quality multifamily opportunities.
View all episodes
By Domingo ValadezEpisode Summary
In this episode of Groundbreakers, Thomas St. John, founder of North Corp Capital and a full-time firefighter, shares how he built a 300-unit multifamily portfolio from the ground up while serving his community. Starting with single-family rentals in 2006, Thomas’s journey is a testament to grit, discipline, and learning through experience.
He opens up about the creative financing methods that helped him buy properties during the 2008 crash, the hard lessons from losing six figures in a bad deal, and how those challenges shaped his mission to protect investors and build a platform rooted in transparency and trust.
Key Points Discussed
- From Firefighter to Founder: Thomas shares how his entrepreneurial drive led him from shift work at the firehouse to managing a multimillion-dollar real estate portfolio—and why it took nine years to buy his first multifamily property.
- Creative Financing in the 2008 Crash: When banks stopped lending, Thomas got creative—using credit cards, hard money, and even crowdfunding platforms like Lending Club to keep growing his portfolio through the downturn.
- Lessons from a Six-Figure Loss: After losing a major investment with an underperforming GP, Thomas launched North Corp Capital to raise capital responsibly and vet sponsors with the same diligence he brings to his own deals.
- Due Diligence and Discipline: Thomas breaks down his process for evaluating deals, from stress-testing pro formas to flying out and walking every property in person. His rule of thumb: “I have to be okay selling it tomorrow—or holding it forever.”
- Building a Fund of Funds: Through North Corp Capital, Thomas helps everyday investors access top-tier multifamily deals with lower minimums via SPV structures, allowing them to benefit from institutional-quality opportunities.
Guest Information
- Name: Thomas St. John
- Role: Founder at Northcorp Capital
- Website: North Corp Capital
- LinkedIn: Thomas St. John
Conclusion
Thomas St. John’s story is proof that persistence and integrity pay off. From working 24-hour shifts as a firefighter to building a respected real estate investment firm, he’s shown that consistency and strong values can outlast any market cycle.
Connect with Thomas on LinkedIn to learn more about his work at Northcorp Capital and how he’s helping investors participate in vetted, high-quality multifamily opportunities.