This episode with AJ Ramler is one of the favorite ones I’ve done so far on the podcast… we learn how AJ started his real estate career by house hacking a 6 unit property (cool story!) to owning a portfolio of 200+ units in Dallas, TX. We talk about how buying in markets where long term equity appreciation is critical if you truly want to build wealth with real estate and why markets like Dallas are great to invest in. AJ has organically built his portfolio and is not a “syndicator” – I think this episode will resonate with people who are looking to learn who they can build a portfolio of small, medium, and large multifamily properties!
Show Notes:
4:23 AJ shares how he got into real estate and started off his career with a four-plex that transitioned into a 6-unit property that he house-hacked.
7:35 We discuss how AJ added units to his property and the struggles that came with it.
11:21 AJ discusses how he financed his early deals with a local bank and ended up refinancing.
13:51 We discuss how AJ partnered with his dad and others to purchase a 63-unit affordable housing property.
17:16 AJ shares how he finds his properties in the Dallas market.
23:29 We talk about how AJ found financing and how there are lending limits when getting into larger properties.
29:16 AJ shares that when approaching a lender with a deal, it should be a negotiation, not a “Yes,” or “No” answer.
30:52 We discuss why AJ self manages and why he regrets not hiring a PM early on.
35:03 AJ shares what his team looks like and the role they play in his company. We also discuss the challenges with outsourcing different roles in your business.
39:25 AJ gives tips on how to elevate your business to the next level
45:34 AJ shares his biggest business failure and what it resulted in.
46:41 We discuss what AJ would do differently if starting his business again.
CONNECT WITH AXEL
https://www.instagram.com/multifamilywealth/?hl=en
https://www.linkedin.com/in/axelragnarsson/
Download my investor toolkit (cash flow calculator, investor pitch deck, scope of work template, and renovation checklist) here.
CONNECT WITH AJ
https://www.proxypropertymgmt.com/
https://www.instagram.com/ajramler/
