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

Real estate is not complicated. But it is brutally hard. In this episode, I break down the biggest lie people tell about real estate investing. The steps are simple. Learn how to underwrite deals. Build relationships. Submit offers. Close. Operate. Refinance. Reinvest. Repeat. But everything that matters happens between those steps in real life. I talk about the emotional toll of this business, th...

Most new investors never buy their first apartment building for one simple reason: They don't make enough offers. In this episode, I break down why submitting LOIs is one of the most important reps you can get in this business — and why you're not actually "locked in" just because you made an offer. We'll talk about how many LOIs you should be submitting, what they really mean, why people freeze u...

Everyone is waiting for January 1st to feel inspired. That's the mistake. In this episode, I break down five specific moves you can make right now—before the new year—that will completely change the trajectory of your real estate journey in 2026. We cover how to define your buy box, build credibility fast, start broker relationships, underwrite deals the right way, and choose an education path tha...

Most new investors think NOI equals cash in their pocket. It doesn't. In this episode, I break down what NOI actually is, how the capital stack works, why GPs get paid last, and how misunderstanding this one concept can destroy deals before they even start. If you want to avoid rookie mistakes and underwrite like a pro, this is required listening.

Everybody thinks they need money, partners, a track record, or some perfect résumé before they can start in multifamily. That's the lie. The truth? You need credibility — and credibility can be BUILT from nothing. In this episode, I break down exactly how to go from "nobody knows me" to "brokers take me seriously." No fluff. No theory. Just the real steps I used to become a lead GP with zero money...

In this episode, I break down why the holiday season is actually one of the BEST times to get ahead in multifamily real estate. While everyone else is coasting, checking out, eating cookies, and waiting for January to "feel motivated," you can be sharpening your skills, getting in front of brokers, tightening your buy box, reviewing deals, building your credibility tools, and setting yourself up t...

Everyone loves a "we closed" post… but nobody talks about what actually happens next. Year one of operations is the most chaotic, most demanding, and least "passive" part of multifamily real estate — and most people have no idea what they're stepping into. In this episode, I break down the real work behind owning and operating apartments. Year one is where the property starts talking to you. Tenan...

In April 2025, we bought a small 6-unit property for $400K, put $68K into CapEx, tightened operations, filled every unit, and had it under contract at $650K within five months. We were days away from closing. Buyers locked in. No renegotiation. Clean inspection. A true home run. And then… two days before closing… a 17-year-old driver crashed into one of our tenant's cars, launching it straight int...

A raw message for students and parents who want real financial freedom—not just a diploma. In this powerful episode, Nico speaks directly to two groups—young, hungry students and their parents. He breaks down why the traditional college path rarely leads to true wealth or freedom and explains how to build real independence through entrepreneurship and multifamily real estate. If you're a parent wh...

How to attract investors without "raising capital" — through trust, consistency, and real work. Description In this episode, Nico gets brutally honest about what it really takes to start building relationships with potential LPs (limited partners). This isn't about "raising capital" or trying to sound like a pro — it's about showing up, building trust, and earning credibility over time. You'll lea...

In this episode, Nico gets raw about why he keeps pushing forward despite teaching full-time, waiting tables at night, coaching surf, and running multifamily properties. He shares the truth about balancing work, family, and investing—and why it all comes down to one thing: creating freedom for his blended family. You'll hear: What Nico's daily grind actually looks like Why family is the ultimate "...

Most people never start in multifamily because they cling to three excuses: I don't have the money, I don't have the experience, and nobody will take me seriously. In this episode, I break down each of these limiting beliefs and show you how to crush them. I'm still a full-time teacher, a dad, hustling side jobs, and going through real struggles—yet I've closed deals, built partnerships, and creat...

People think being a multifamily operator is glamorous — that it's passive income, freedom, and kicking back while the money rolls in. The truth? It's chaos. In this episode, I take you behind the scenes of a real day in my life — juggling four jobs (multifamily operator, full-time teacher, surf coach, and waiter), nonstop phone calls, constant decision-making, and the family moments that keep me...

Every closing I've ever done has been chaos. Forget the champagne shots and social media hype — the reality is messy, stressful, and nonstop. In this episode, I break down what really happens when the deal closes, why most people aren't cut out for multifamily, and how walking into the fire is the only way to grow. If you want the full story of my most recent crazy closing, check out [Episode 270]...

In this episode, Nico takes you inside the ugliest closing he's faced yet — a 13-unit deal in Lakeland, Florida that nearly fell apart multiple times. What looked simple on paper turned into a brutal capital raise, endless back-and-forth with lenders and title companies, and a closing process that stretched out over a week of chaos. You'll hear the unfiltered truth about raising $220K that felt li...

I've done good deals and I've done bad deals—and the difference wasn't luck. It came down to whether the right ingredients were in the mix. In this episode, I share the 7 key ingredients that make up the recipe for a truly good deal in multifamily investing: Price (and why chasing discounts alone can be a trap) Money in the bank & proof of funds Broker and seller relationships Operations and manag...

In this episode, I break down a truth that too many people miss: in multifamily, the hardest part isn't finding deals—it's raising capital. I walk you through the cycles I've seen and learned about: Post-GFC (2009–2011): Deals everywhere, no capital. 2020–2022: Capital everywhere, no deals. Today: Deals are discounted, but the money is tight. We'll cover why the game always shifts, why waiting for...

It's late, I'm tired, and honestly, I almost didn't hit record tonight. But that's exactly what this episode is about— grit and showing up when it's hard . I share the reality of what it takes to build something meaningful: recording hours of course content, juggling real deals with investors and lenders, handling personal struggles, and still pressing forward with no true days off. This isn't abo...

Most people have no business getting into multifamily real estate. It's slow, risky, and messy — and if you don't have the stomach for years of grind, you'll get crushed. In this episode, I break down the brutal truths about multifamily investing : the sleepless nights, the endless "no's," the tenant headaches, the financial risks — and why this game isn't for everyone. Then I'll share who does th...

What if I told you the secret to growth in real estate, business, and life is collecting as many "nos" as possible? In this episode, I break down why rejection isn't failure—it's information, momentum, and often just the first step toward a yes. I share stories from my own journey as a teacher, investor, and dad—whether it's negotiating with sellers, asking vendors for discounts, building teams, o...

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 dan...

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 Th...

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 mat...

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 a...

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...