Property Profits Real Estate Podcast

Your inbox is flooded with broker deals. What if AI read them for you and only showed you the ones worth your time?

David Fields has spent his whole career on the investing side. He did M&A at Disney, ran acquisitions at Regent Properties in LA and spent almost 8 years leading investments for Michael Eisner's family office.

Now he is co-founder and CEO of AcquiOS, the platform he wished he had when he ran acquisitions. David explains how AI screens deals against your buy box, underwrites into your own model, and finds the "smoking gun" in a data room before you spend big on lawyers and consultants.

Key topics:

About David Fields:

David is co-founder and CEO of AcquiOS, an AI underwriting and due diligence platform for real estate. He is based in Los Angeles and works with groups across multifamily, net lease, self storage, industrial and commercial.

Connect with David Fields: https://acquios.ai

Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate

Two weeks into his investment banking job, every analyst around him had a "dentist appointment." That's when Alex Blackwood decided to build something of his own.

Alex is the founder of Mogul, a platform where people buy shares of individual single family rentals. One house at a time.

Mogul now owns about 165 homes across roughly 18 markets. Some are long term rentals. Some are short term rentals. Some are Pad Split homes. In Broken Bow, Oklahoma, it's all short term rentals.

Alex shares why "when you buy off Zillow, you're already 3 days too late," and how local partners bring deals to them instead. He also takes on the big question from the apartment crowd: aren't 165 separate houses riskier than one building?

Plus, how AI cut their time per deal from 18 hours down to 2.

Key topics

About Alex Blackwood

Alex Blackwood is the founder of Mogul. He came from investment banking and is a licensed realtor. Mogul lets investors buy shares in individual single family rentals across the US.

Links

Connect with Alex: https://www.mogul.com

Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate

Want to be a guest on the show? https://www.daveinterviewsyou.com

She didn't think she'd find one investor. Then she made a Dream 100 list.

Dr. Nkem Ezeamama is an ER doctor and the founder of Pheenyx Capital. She owns about 800 apartment units, totaling about $153 million in assets, in Georgia, the Carolinas and Tennessee.

She tells Dave Dubeau how she went from passive investor to owner operator, why her investors trusted her before they trusted the deal, and how a simple message to her contacts started her investor base.

She also explains why doctors are tired of being pitched, and why she wants to reach them in residency.

Key topics

• Why an ER doctor wanted more than one income stream

• Not wanting to be the 3 a.m. landlord

• Learning to underwrite 3 deals a day

• Starting at the market peak

• The Dream 100 list and her first message

• Turning a no into maybe not now

• Why doctors need education, not another pitch

About Dr. Nkem Ezeamama

Dr. Nkem Ezeamama is an emergency medicine physician and the founder of Pheenyx Capital, based in Nashville. Pheenyx Capital helps physicians and professionals build wealth through multifamily apartment investing.

Links

Connect with Nkem: https://phcinvest.com

Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate

Want to be a guest on the show? https://www.daveinterviewsyou.com

XSITE Capital stopped buying apartments for over 2 years. Then it all changed.

Tenny Tolofari is a cofounder and head of acquisitions at XSITE Capital. Since 2019, the company has done $276 million in deals, mostly value add apartments in the Southeast.

Tenny tells Dave Dubeau why every seller in the market right now is motivated, and how one very hard $49.1 million deal made them a better company.

He also explains how partners earn a seat at the table, and how the 3 founders met over the Cashflow board game.

Key topics

• Why XSITE Capital paused buying from 2022 to 2025

• Why it's a buyer's market right now

• The hardest deal they've done and what it fixed

• Raising capital from busy professionals

• What a seat at the table means for partners

• How the founders met

• Building a community around awareness

About Tenny Tolofari

Tenny Tolofari is a cofounder, head of acquisitions and chief growth officer at XSITE Capital, based in Charlotte, North Carolina. He has an engineering and cybersecurity background and left his full time job in 2024.

Links

Connect with Tenny: https://xsitecapital.com (or find Tenny Tolofari on LinkedIn)

Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate

Want to be a guest on the show? https://www.daveinterviewsyou.com

Her partners gave her a $54 million project, but not their $10 million fund.

So Bethany Finch started her own.

Bethany has 30 years in real estate. She started with $250, learned to flip with private money, and now works across build to rent communities, corporate rentals, value add multifamily and a customizable fund.

She tells Dave Dubeau why so many retirees are sitting on rentals their kids don't want. She also explains why most of her investors are men, even though she built Empower Her Capital with women in mind.

Her big message: stop chasing a retirement number. Ask what an extra $10,000 a month would solve.

Key topics

About Bethany Finch

Bethany Finch is the founder of Empower Her Capital. Based in Washington State, she has 30 years of real estate experience across single family flips, multifamily, build to rent, corporate rentals and a customizable fund.

Links

Connect with Bethany: https://empcfund.com

Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate

Want to be a guest on the show? https://www.daveinterviewsyou.com

How many units can you fit on a property?

Brian Koons says that used to be the main question.

Now he asks a different one: What creates a good rental product in a good neighborhood?

Brian Koons works in the San Diego ADU market, where high property prices make cash flow difficult without getting creative.

His focus is often on distressed single family homes and small multifamily properties where more units can be added.

Brian explains why he likes projects that end with four units. In his experience, that gives him a useful balance between density, parking, yard space, privacy, and easier lending compared with projects that move into the five unit and commercial lending space.

He also shares why distressed properties give him more flexibility. A project might be renovated and sold, sold with permits, completed and sold, or completed and held as a rental.

Brian also talks about how his thinking has changed over time. Instead of trying to squeeze as many units as possible onto a lot, he now pays close attention to livability and often prefers larger two and three bedroom ADUs.

Brian Koons is a San Diego developer and development manager.

He spent eight years in the Marine Corps before moving into development. He later ran development for a company with 580 projects before starting his own business.

Today, he manages projects for himself, investors, and property owners who want help building ADUs.

A tax lien purchase does not always lead to a property. For Jim Tannehill, that is part of the model.

Jim and his team may evaluate hundreds of properties before an annual tax sale. They narrow those properties down, set maximum bids, purchase tax liens, and then wait through the redemption period.

If the owner pays the taxes and required costs, Jim gets his principal back along with interest. If the lien is not redeemed and the legal process is completed correctly, his team may eventually acquire the deed.

Jim explains that the tax sale is only one piece of the puzzle. Once a property is acquired, his team still has to decide whether selling it, renovating and selling it, or holding it as a rental makes the most sense.

Jim also shares why discipline matters. His team stays inside specific buying parameters instead of chasing every cheap property that appears at the auction.

Key topics and takeaways:

Guest Information:

Jim Tannehill is a real estate investor who has spent roughly a decade building a portfolio of income producing properties. His company self manages a portfolio in the 200 property range, with a focus on duplexes and single family homes.

A shelter is not always the final stop before someone gets permanent housing. Felicia Edelman says many people need a middle ground first.

Felicia and her husband have operated transitional shared housing in South Los Angeles since January 2010. Their residents include men coming from jails, prisons, treatment centers, hospitals, shelters, the streets, and other agencies.

Felicia explains how the model works financially and operationally. Their typical duplex has five bedrooms on each side, with shared rooms and 20 to 30 men across the property. Residents generally pay between $600 and $800 per month. Utilities are included, and Felicia says they do not require an application fee, security deposit, credit check, or background check.

She also explains why onsite management matters. Many of their house managers were once residents themselves and have personal experience with jail or prison. Felicia says this helps new residents feel understood and gives each house people who can set the tone and help de escalate problems.

Key topics and takeaways:

Guest information:

Felicia Edelman is a shared housing expert with SOS Housing. She and her husband opened their first transitional housing location in January 2010.

Iron Ridge Capital went more than three years without buying a property because the deals did not make sense.

That choice was not always popular with investors who wanted another opportunity. But Erik Nordstrom and Erik Strom had already lived through a major real estate correction. They knew what it felt like when a deal became stressful and financing became difficult.

In this conversation, Erik and Erik explain how Iron Ridge approached the recent multifamily market. They talk about underwriting higher rates, building their property management operation, watching property data every morning, and protecting relationships with investors that have taken as long as 15 to 20 years to build.

They also explain why the current market feels different. Iron Ridge historically bought about one or two deals each year. The team now sees enough opportunity that they are looking at buying roughly three to five deals a year while the window remains open.

Key topics and takeaways:

Guest information:

Erik Nordstrom and Erik Strom are part of Iron Ridge Capital. The company focuses on multifamily investing, syndication, and property management in the Dallas Fort Worth area.

Iron Ridge manages about 2,200 multifamily units and owns about 660 units.

Jason Williams built his underwriting system so a user could import a rent roll and T12, push a button, and have about 90 percent of the work completed. Then the Excel model became so complex that sharing it with other people created a new problem.

Jason explains how that frustration led him to create a web based underwriting app that uses AI to read an OM, rent roll, and T12 and fill in much of the information automatically.

The conversation also goes inside Jason’s own real estate portfolio. He talks openly about being the lead sponsor on two multifamily properties, including one that is doing very well and another that is taking most of his attention.

Dave and Jason also dig into a new manufactured home community Jason is developing near Waco, Texas. The 18 acre project is planned for about 100 homes, but a zoning issue and a pre annexation agreement delayed construction and forced Jason and his partners into negotiations with the city.

Key topics and takeaways:

Guest information:

Jason L. Williams, Ph.D. has been involved in real estate for more than 20 years. He entered multifamily investing in 2017 after meeting his mentor, Joe Fairless.

Jason is involved in multifamily properties, single family homes, smaller residential multifamily properties, and the development of a manufactured home community in Central Texas.

He also hosts the Ironclad Underwriting Podcast with his business partner Frank Patalano.

Website:

ironcladunderwriting.com

Resources mentioned:

Call to action:

Visit ironcladunderwriting.com to find Jason’s resources, podcast, and newsletter.

Jason said his newsletter is sent twice a month, on the first and the fifteenth.

You can also sign up through the site to become a beta tester for his underwriting web app. At the time of the conversation, the app was in open beta and free to use.