Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires

Are you still hearing people say "pencils down"? Let's get real—if you're in this game, you can't afford to step back from underwriting. In today's episode, Nico breaks down why the "pencils down" mindset is a rookie move, and why sharpening your underwriting skills through every cycle is what separates real players from pretenders.

You'll learn:

• What "pencils down" actually means—and why it's dangerous for investors

• Why underwriting deals daily keeps you sharp and market-aware

• The key metrics every investor should master (cash-on-cash, IRR, AAR, equity multiple)

• How refinances can fuel your returns—tax free

• Why Nico's Multifamily Deal Blade is designed to help you underwrite every deal with clarity and confidence

Whether the market is up, down, or sideways—you can't sit this one out. Stay informed, stay dangerous, and keep sharpening your axe.

👉 Grab Nico's Multifamily Deal Blade here: www.smallaxecommunities.com

In today's episode, I break down exactly why now is the moment to buy multifamily real estate—even in a shaky market.

I share what I'm seeing on the ground: sellers getting nervous, buyers pulling out, and deals coming back to the table at massive discounts. We'll talk about:

• Why valuations are down 30–40% from 2022 levels

• How capital calls and struggling syndications are shaping today's market

• The importance of locking in fixed-rate debt

• What to do if you don't have capital right now (and how to build the right investor relationships)

• Why my Deal Blade analyzer can help you underwrite quickly, accurately, and confidently

If you've been waiting for the "right time" to jump in, this might be it. Deals are out there—you just need the tools, the confidence, and the network to take advantage.

👉 Grab my Deal Blade analyzer for just $49 at smallaxecommunities.com and join the private Facebook group to connect with other serious investors.

After three years, countless versions, and real-world testing on actual deals, I'm finally ready to launch my Multifamily Deal Blade—the exact analyzer I use to underwrite properties in minutes with accuracy and confidence.

In this episode, I walk you step-by-step through the tool, showing you how it works, what metrics it tracks, and how it can help you cut through the noise to focus on what matters most: cash flow, risk, and returns.

Whether you're brand new or a seasoned pro, this tool will make you faster, sharper, and more dangerous in the multifamily space. I'm also giving you access to my new Facebook group where you can get support, ask questions, and master deal analysis with other serious investors.

Get the Multifamily Deal Blade here: 👉 smallaxecommunities.com/dealanalyzer

Stop guessing your numbers. Start analyzing like a pro.

In this episode, I break down our real-life case study of a 10-unit Section 8 property we picked up in November 2023—right at the peak of interest rates. We negotiated it down from $950K to $825K, closed with a brutal 7.93% loan, and dealt with all the C-class chaos you can imagine… including a guy literally living in a boat in our parking lot.

I'll walk you through:

• How persistence won the deal after months of "no's"

• Why we skipped renovations and parked our CAPEX at 5% interest

• Dealing with hurricanes, bad vendors, and Section 8 realities

• The upcoming refinance that could return 35–40% of investor capital tax-free

• Why infinite returns are the ultimate play

This is the gritty, unfiltered side of multifamily investing most people don't talk about. If you want to know what it really takes to win in C-class properties, this is your episode.

Links: 🎯 Download the free Multifamily Credibility Kit: smallaxecommunities.com 📸 Tag me on Instagram: @_Nico_Salgdo 🎙️ Subscribe & share the show with someone who needs to hear this!

In today's episode, Nico calls out the overcomplicated waterfall structures and financial gymnastics too many operators use to confuse LPs—and breaks down exactly how he structures his multifamily deals instead.

You'll hear: – Why Nico avoids IRR-based waterfalls and keeps things clean with a simple preferred return – How his investors get paid before he sees a dime – The exact split structure he uses (and why he never hides fees or plays games) – The real reason some syndicators overcomplicate things—and why Nico refuses to

Whether you're an LP looking for transparency or an aspiring GP learning how to structure deals the right way, this episode will hit home.

👉 If this resonates, share the episode and tag @NicoSalgado on IG, TikTok, or LinkedIn. Let's build empires the right way—brick by brick, deal by deal.

What if I told you that nobody cares about your effort—until you win?

This is the brutal truth about building anything meaningful: your work is invisible until it pays off. In this raw, unfiltered solo episode, I pull back the curtain on what it really takes to build a real estate business while working a W2, raising a family, and getting kicked in the teeth by the grind.

No exits. No millions. No highlight reel. Just truth.

I've lost money. I've closed deals after restaurant shifts. I've stayed up late, missed vacations, and poured everything into a dream most people won't care about until it "works."

This episode is for the ones still in the fight. The ones building with no applause. The ones doing it anyway.

If you're grinding in silence, doubting yourself, or waiting for someone to care—this is your sign to keep going.

👊 The hustle is invisible—until it's not. 🪓 Keep swinging. 🔨 Build your empire. 🎧 Hit play.

Are you chasing cash flow and forgetting the big picture? In today's episode, I break down the real reason we invest in multifamily—and why the goal isn't instant riches, but long-term capital preservation and control.

Here's what I'm covering:

• The difference between cash flow and appreciation (and why you need both)

• Why preserving your capital should always come first

• How forced appreciation really works (and why it's not easy)

• Why multifamily beats stocks and single-family homes

• What to look for before parking your money in any deal

If you're ready to stop thinking like a hobbyist and start thinking like an investor and business owner, this episode is for you.

🎯 Grab my Multifamily Credibility Kit at https://smallaxecommunities.com 📩 DM me for a copy of my Deal Analyzer 🛠️ Full course launch coming soon — stay tuned!

Are you staring at spreadsheets without really knowing what they're telling you?

In this episode, I break down the most important return metrics in multifamily real estate—from cash-on-cash and IRR to DSCR and equity multiple. I explain what they actually mean, why they matter, and how to use them to make smart investment decisions.

We're not just guessing here. These numbers tell a story—and if you know how to read them, you'll stop overpaying, start protecting your capital, and finally start growing real wealth.

Whether you're an LP trying to spot BS in a pitch deck or an operator building your summary page, this one is for you.

Episode 256 — Small Axe Podcast with Nico Salgado

You've been studying. Listening. Watching. Underwriting. But that first multifamily deal? Still not happening.

In this episode, I break down the real reasons you're stuck—and they're probably not what you think. 👉 It's not just about money. 👉 It's not just about the market. 👉 It's not just about rates.

We'll cover:

• The hidden traps of "learning mode"

• Why brokers aren't taking you seriously

• The confidence-killing habit that's blocking your progress

• A step-by-step roadmap to finally break through

• How to build credibility (even without a deal)

Plus, I share the exact 5 steps you can take this week to start gaining momentum—and get closer to closing your first building.

✅ Free Resource: Download the Multifamily Credibility Kit - www.smallaxecommunities.com 📥 DM me to get on the course waitlist: Buy Buildings, Build Empires 📩 Let's get your first deal under contract—fast.

Think you have to be a GP to succeed in real estate? Think again. In this no-fluff episode, I break down the four real levers that determine your success in multifamily: time, experience, education, and capital.

Whether you're short on cash but loaded with hustle—or sitting on capital but strapped for time—you'll discover exactly where you fit in this game. I'll show you how to build wealth without burning out, why being the face of the deal isn't always the smartest move, and how to play your role like a pro.

✅ How to know if GP is right for you ✅ Why LPs might have the real edge ✅ The hybrid roles that most investors overlook ✅ What's killing your momentum before you even start

Stop following Instagram gurus blindly. Start building a real plan that matches your actual life.