Appelman Capital

The BRRRR 2.0 Strategy: How I’m Scaling Multifamily Without Heavy CapEx 🔥Live Podcast Alert 🔥 🔥On this Real Estate Hustlers Podcast episode, Tiffany Mittal is a distinguished businesswoman with over 15 years of multifamily real estate experience, excelling as an owner-operator and proptech executive. Her visionary leadership has driven exponential growth in utility billing and payments technology startups, establishing her as a trailblazer in the field. In 2020, Tiffany founded Utility Ranger, a groundbreaking tenant utility billing software company. This venture gained significant attention, leading to a partnership with 10X Incubator in 2021. In March 2023, they launched their new proptech startup, setting a precedent as industry leaders committed to innovation and empowering multifamily investors.  What actionable value will you provide to our listeners? -Tiffany transitioned from California to Florida for better investment opportunities. -Utility Ranger was created to solve utility billing challenges in multifamily properties. -Florida’s real estate market offers significant growth potential post-COVID. -Insurance costs in Florida remain high but manageable compared to California. -The shift from owner-operator to asset management allows for better focus on growth. -Utility billing can significantly increase net operating income and property value. -Transparency in billing reduces tenant inquiries and improves accountability. -Tenants’ behaviour changes when they are billed for utilities based on usage. -Lenders favor properties with additional revenue streams from utility billing. Watch the episode here: Listen to the podcast here: Key Points From This Episode: 1. Tiffany transitioned from California to Florida for better investment opportunities. 2. Utility Ranger was created to solve utility billing challenges in multifamily properties. 3. Florida’s real estate market offers significant growth potential post-COVID. 4. Insurance costs in Florida remain high but manageable compared to California. 5. Utility billing can significantly increase net operating income and property value. About Tiffany: 🔥On this Real Estate Hustlers Podcast episode, Tiffany Mittal is a distinguished businesswoman with over 15 years of multifamily real estate experience, excelling as an owner-operator and proptech executive. Her visionary leadership has driven exponential growth in utility billing and payments technology startups, establishing her as a trailblazer in the field. In 2020, Tiffany founded Utility Ranger, a groundbreaking tenant utility billing software company. This venture gained significant attention, leading to a partnership with 10X Incubator in 2021. In March 2023, they launched their new proptech startup, setting a precedent as industry leaders committed to innovation and empowering multifamily investors.    Touch with Tiffany: LinkedIn:  Tiffany Mittal     Join the Real Estate Hustlers Community: Investor Portal Free Facebook Group Josh Appelman Youtube Apply To Be A Podcast Guest

Where to Tap: Property Management That Actually Works 🔥Live Podcast Alert 🔥 🔥On this Real Estate Hustlers Podcast episode, we will talk with Ken Doble, who started as the on-site manager of a 24-unit apartment building. I answered phones, fixed toilets, and collected rent. Then I moved into accounting. Became the Controller. Then the CFO. Eventually, I ran operations as COO, overseeing 23,000 units across 11 states. That company didn’t survive the 2008 crash. He co-founded Quantitative Realty Capital (QRC) to do it smarter. We buy underperforming apartments, fix what’s broken, and create real returns—not just pro formas. Over the last 30+ years: I’ve been involved in 30,000+ units Led $233M in renovations Fixed hundreds of distressed properties I know what works because I’ve lived every part of the business—from the boiler room to the boardroom. I also wrote The 5 P’s of Property Management, a no-BS guide to running better apartments through People, Pricing, Product, Promotion, and Processes. What actionable value will you provide to our listeners? -Ken Doble transitioned from military service to real estate. -The 2008 crash taught valuable lessons about risk management. -Incentives are crucial for motivating property management teams. -Hands-on experience is essential for learning in real estate. -AI is transforming the real estate industry and can enhance efficiency. -Navigating economic downturns requires patience and diligence in deal-making. -Understanding cash flow and contingencies is vital for success. -Building a strong team is key to successful property management. -Continuous learning and adaptation are necessary in the evolving real estate landscape. Watch the episode here: Listen to the podcast here: Key Points From This Episode: 1. Ken Doble transitioned from military service to real estate. 2. The 2008 crash taught valuable lessons about risk management. 3. Effective property management relies on the ‘Five P’s’: People, Pricing, Promotions, Product, and Process. 4. Incentives are crucial for motivating property management teams. 5.Hands-on experience is essential for learning in real estate. About Ken: 🔥On this Real Estate Hustlers Podcast episode On this Real Estate Hustlers Podcast episode, we will talk with Ken Doble, who started as the on-site manager of a 24-unit apartment building. I answered phones, fixed toilets, and collected rent. Then I moved into accounting. Became the Controller. Then the CFO. Eventually, I ran operations as COO, overseeing 23,000 units across 11 states. That company didn’t survive the 2008 crash.   Touch with Ken: LinkedIn:  Ken Doble    Join the Real Estate Hustlers Community: Investor Portal Free Facebook Group Josh Appelman Youtube Apply To Be A Podcast Guest

Underwriting Background to Help LPs Maximize CRE Investments 🔥Live Podcast Alert 🔥 🔥On this Real Estate Hustlers Podcast episode he founded Elkstone Capital, a real estate private equity firm. He named it since I’m from Idaho and love hunting. He wanted my beliefs to appeal to working partners so they could enjoy the outdoors. We aim at $1B AUM by 2032. We’ve bought and built 451 doors ($45M AUM) and are submitting more transactions. Hotels-to-multifamily, classic MF value-add, and self-storage are our specialities. We want 1,000 doors for our company and partners by year’s end. I invested in real estate, equities, and my first VC round. I manage a 506B freight and logistics fund. We’’ve raised $15M in equity across all our projects by only discussing opportunities I 100% believe in, being open, and being good at underwriting. He learnt my trade from local real estate developers. His last job was senior development analyst for Property Reserve Inc., the for-profit commercial real estate investment arm of the Church of Jesus Christ of Latter-Day Saints. While there, my team and I underwrote and approved 1.8M SF of warehouse and logistics centres, 1000+ units of build-for-rent (townhomes, duplexes, SFR) communities, 500K+ SF of new class A office tower space, multifamily, hotels, and more for about half a billion dollars. Underwrote hundreds of houses. Excel and financial modelling are my speciality. What actionable value will you provide to our listeners? -Mitchell Rice is a principal at Elkstone Capital, focusing on multifamily and hotel conversions. -His first deal involved co-GP work in Tennessee, raising equity through business owner networks. -Underwriting is crucial; they underwrite multiple deals weekly to find the right opportunities. -AI will impact real estate by increasing efficiency and potentially reducing jobs. -Mitchell’s portfolio includes a significant portion of Section 8 housing for steady income. -Setting annual and quarterly goals is essential for growth in asset management. -Third-party property management is necessary for diverse locations, requiring strong relationships. -Hotel conversions require careful consideration of property specifications and local regulations. -Mitchell emphasizes the importance of not getting emotionally attached to deals during underwriting. -Networking and leveraging relationships with brokers can lead to successful joint offers. Watch the episode here: Listen to the podcast here: Key Points From This Episode: 1.Mitchell Rice is a principal at Elkstone Capital, focusing on multifamily and hotel conversions. 2. His first deal involved co-GP work in Tennessee, raising equity through business owner networks. 3. Underwriting is crucial; they underwrite multiple deals weekly to find the right opportunities. 4. AI will impact real estate by increasing efficiency and potentially reducing jobs. 5. Mitchell’s portfolio includes a significant portion of Section 8 housing for steady income. About Mitchell: 🔥On this Real Estate Hustlers Podcast episode he founded Elkstone Capital, a real estate private equity firm. He named it since I’m from Idaho and love hunting. He wanted my beliefs to appeal to working partners so they could enjoy the outdoors. We aim at $1B AUM by 2032. We’ve bought and built 451 doors ($45M AUM) and are submitting more transactions. Hotels-to-multifamily, classic MF value-add, and self-storage are our specialities. We want 1,000 doors for our company and partners by year’s end. I invested in real estate, equities, and my first VC round. I manage a 506B freight and logistics fund. We’’ve raised $15M in equity across all our projects by only discussing opportunities I 100% believe in, being open, and being good at underwriting. He learnt my trade from local real estate developers. His last job was senior development analyst for Property Reserve Inc., the for-profit commercial real estate investment arm of the Church of Jesus Christ of Latter-Day Saints. While there, my team and I underwrote and approved 1.8M SF of warehouse and logistics centres, 1000+ units of build-for-rent (townhomes, duplexes, SFR) communities, 500K+ SF of new class A office tower space, multifamily, hotels, and more for about half a billion dollars. Underwrote hundreds of houses. Excel and financial modelling are my speciality.   Touch with Mitchell: LinkedIn:  Mitchell Rice    Join the Real Estate Hustlers Community: Investor Portal Free Facebook Group Josh Appelman Youtube Apply To Be A Podcast Guest

No Bad Days in real estate and life 🔥Live Podcast Alert 🔥 On this Real Estate Hustlers Podcast episode, we will talk with Jeffrey Holst is a recovering attorney, seasoned real estate investor, speaker, and author of No Bad Days: How to Make Every Day Great. He specialises in midsize multifamily investments and is the co-founder of Old Fashioned Real Estate, Mahoru Catamarans, and the Extraordinary Life Mastermind—a community helping people design and live extraordinary lives. Jeff’s unique philosophy—Inspired Thought + Right Action = Extraordinary Life—guides his approach to business, investing, and personal growth. He’s completed hundreds of real estate transactions, spoken on stages around the world, and is on a mission to create one billion good days. What actionable value will you provide to our listeners? -Jeffrey transitioned from bankruptcy attorney to real estate investor. -His motivation for investing stemmed from a health scare. -He started with a $30,000 condo and grew his portfolio from there. -Multi-family investments became a focus after leaving his corporate job. -He emphasises the stability of apartments compared to retail spaces. -AI is a crucial tool for staying competitive in real estate. -Investors must adapt to the rapid changes brought by AI. -Housing remains a fundamental need that cannot be automated away. -Preparing for economic disruptions is essential for real estate investors. -Diversifying investments is crucial in uncertain times. Watch the episode here: Listen to the podcast here: Key Points From This Episode: 1. The future of work will be heavily influenced by automation. 2. Real estate values may decline as jobs are automated. 3. Universal basic income could become a reality as jobs disappear. 4. Having a solid reputation is a valuable asset. 5. Investing in essential housing will remain important. About Jeffrey: On this Real Estate Hustlers Podcast episode, we will talk with Jeffrey Holst is a recovering attorney, seasoned real estate investor, speaker, and author of No Bad Days: How to Make Every Day Great. He specialises in midsize multifamily investments and is the co-founder of Old Fashioned Real Estate, Mahoru Catamarans, and the Extraordinary Life Mastermind—a community helping people design and live extraordinary lives. Jeff’s unique philosophy—Inspired Thought + Right Action = Extraordinary Life—guides his approach to business, investing, and personal growth. He’s completed hundreds of real estate transactions, spoken on stages around the world, and is on a mission to create one billion good days. Touch with Jeffrey: LinkedIn:   Jeffrey Holst  Join the Real Estate Hustlers Community: Investor Portal Free Facebook Group Josh Appelman Youtube Apply To Be A Podcast Guest

Syndication Secrets: Winning as a New Multifamily Sponsor 🔥Live Podcast Alert 🔥 On this Real Estate Hustlers Podcast episode, we will talk with David began real estate investing in 2013 with the purchase of his first Single Family Rental. Drawn to the economies of scale inherent to Multifamily, he purchased a 6-unit MF property in 2018. David has since sponsored the purchase of 2094 MF units valued over $258m.  What actionable value will you provide to our listeners? -David Lilley transitioned from a firefighter to a multifamily investor after serving in the Marine Corps. -Vertical integration in property management has been crucial for David’s business success. -AI is being integrated into real estate operations to improve efficiency and decision-making. -Preparing for economic disruptions is essential for real estate investors. -David emphasises the importance of controlling the property management process. -He has brought construction management in-house to improve cost control and transparency. -The current market presents challenges, especially with distressed properties. -David’s goal is to double his portfolio size, aiming for 2,000 new units this year. -He recommends several books for real estate investors to enhance their mindset and strategies. -Rising interest rates require adjustments in investment strategies. Watch the episode here: Listen to the podcast here: Key Points From This Episode: 1. David Lilley transitioned from a firefighter to a multifamily investor after serving in the Marine Corps. 2. He leveraged a VA loan to purchase his first single-family home before moving into multifamily investments. 3. Vertical integration in property management has been crucial for David’s business success. 4. AI is being integrated into real estate operations to improve efficiency and decision-making. 5. Preparing for economic disruptions is essential for real estate investors. About David: On this Real Estate Hustlers Podcast episode, we will talk with David began real estate investing in 2013 with the purchase of his first Single Family Rental. Drawn to the economies of scale inherent to Multifamily, he purchased a 6-unit MF property in 2018. David has since sponsored the purchase of 2094 MF units valued over $258m.    Touch with David: LinkedIn:  David Liley    Join the Real Estate Hustlers Community: Investor Portal Free Facebook Group Josh Appelman Youtube Apply To Be A Podcast Guest

From Zero to $40 Million: A Real Estate Story 🔥Live Podcast Alert 🔥 In this episode of the Real Estate Hustlers podcast, host Josh Appelman interviews John Crowell, a successful commercial real estate investor. John shares his journey from a W2 job to building a real estate portfolio worth over $40 million in just 18 months. He discusses the importance of creative financing in today’s market, the lessons he’s learned along the way, and the critical role of asset management in ensuring the success of real estate deals. John emphasizes the need for hard work, flexibility, and a long-term perspective in real estate investing. What actionable value will you provide to our listeners? -Real estate can provide significant tax benefits through depreciation. -Creative financing helps bridge the gap between buyers and sellers. -Building a network and learning from others is crucial in real estate. -Starting small and scaling up is a practical approach for new investors. -Flexibility in deal structures can lead to successful transactions. -Asset management is key to delivering on projected financials. -Work ethic and persistence are essential for long-term success. -Partnering with experienced investors can accelerate learning. -Understanding market conditions is vital for making informed decisions. -Rising interest rates require adjustments in investment strategies. Watch the episode here: Listen to the podcast here: Key Points From This Episode: 1. Real estate can provide significant tax benefits through depreciation. 2. Creative financing helps bridge the gap between buyers and sellers. 3. Building a network and learning from others is crucial in real estate. 4.  Starting small and scaling up is a practical approach for new investors. 5. Flexibility in deal structures can lead to successful transactions.   About John: On this Real Estate Hustlers Podcast episode, Host Josh Appelman interviews John Crowell, a successful commercial real estate investor. John shares his journey from a W2 job to building a real estate portfolio worth over $40 million in just 18 months. He discusses the importance of creative financing in today’s market, the lessons he’s learned along the way, and the critical role of asset management in ensuring the success of real estate deals. John emphasizes the need for hard work, flexibility, and a long-term perspective in real estate investing.   Touch with John: LinkedIn:  John Crowell    Join the Real Estate Hustlers Community: Investor Portal Free Facebook Group Josh Appelman Youtube Apply To Be A Podcast Guest

Maximising Returns Through Strategic Management On this Real Estate Hustlers Podcast episode, we will talk with Will Matheson is the co-founder of Matheson Capital, a real estate investment firm based in Charleston, South Carolina. Since the start of 2018, they have purchased over $100 million worth of real estate throughout the southeast. What actionable value will you provide to our listeners? -Investing in real estate can be both a cash flow-producing asset and a value-add opportunity. -Having a strong understanding of the market and timing is crucial for successful acquisitions. -Building a portfolio requires a mix of short-term and long-term strategies. -Effective property management is key to maximizing returns on investments. -Syndication can be a powerful tool for raising capital and expanding your portfolio. -Preferred returns should align with the performance of the property to ensure investor satisfaction. -Growth in real estate requires careful planning and execution, especially in a fluctuating market. -Learning from past mistakes is essential for future success in real estate investing. -Technology and AI are changing the landscape of real estate, impacting efficiency and operations. -Starting small allows for manageable learning experiences and building a solid track record. Watch the episode here: Listen to the podcast here: Key Points From This Episode: 1. Investing in real estate can be both a cash flow-producing asset and a value-add opportunity. 2. Having a strong understanding of the market and timing is crucial for successful acquisitions. 3. Building a portfolio requires a mix of short-term and long-term strategies. 4. Effective property management is key to maximising returns on investments. 5. Syndication can be a powerful tool for raising capital and expanding your portfolio. About Will: On this Real Estate Hustlers Podcast episode, we will talk with Will Matheson is the co-founder of Matheson Capital, a real estate investment firm based in Charleston, South Carolina. Since the start of 2018, they have purchased over $100 million worth of real estate throughout the southeast. Touch with Will: LinkedIn:  Will Matheson Join the Real Estate Hustlers Community: Investor Portal Free Facebook Group Josh Appelman Youtube Apply To Be A Podcast Guest

Helping Apartment Investors get Extraordinary Returns through OFF-MARKET access On this Real Estate Hustlers Podcast episode, we will be talking with Ryan L. Duff, the Managing Partner and Founder of C-Port Equity, who brings over 14 years of experience in multifamily real estate financing and debt structuring. His deep understanding of the capital stack and market dynamics has been instrumental in funding over $4B of apartment transactions. Ryan’s expertise extends beyond financing; his insights into the marketplace have cultivated a vast network of owner/operators, lenders, and brokers, making him a sought-after advisor and co-investor in the sector. What actionable value will you provide to our listeners? -The real estate industry is facing significant challenges due to rising interest rates. -Investors need to be aware of the debt cliff and its implications. -Targeting markets with positive migration trends is crucial for investment success. -Transparency and trust in operator relationships are essential for successful investments. -Understanding the capital stack and financing options is key to navigating the market. -Investing in off-market deals can provide unique opportunities. -The importance of operator integrity cannot be overstated in today’s market. -Different asset classes present varying levels of risk and opportunity. -A hybrid investment model can offer advantages in today’s environment. -Continuous tracking of market trends and data is vital for informed decision-making. Watch the episode here: Listen to the podcast here: Key Points From This Episode: 1. The real estate industry is facing significant challenges due to rising interest rates. 2. Investors need to be aware of the debt cliff and its implications. 3. Targeting markets with positive migration trends is crucial for investment success. 4. Transparency and trust in operator relationships are essential for successful investments. 5. Understanding the capital stack and financing options is key to navigating the market.   About Ryan: On this Real Estate Hustlers Podcast episode, we will be talking with Ryan L. Duff, the Managing Partner and Founder of C-Port Equity, who brings over 14 years of experience in multifamily real estate financing and debt structuring. His deep understanding of the capital stack and market dynamics has been instrumental in funding over $4B of apartment transactions. Ryan’s expertise extends beyond financing; his insights into the marketplace have cultivated a vast network of owner/operators, lenders, and brokers, making him a sought-after advisor and co-investor in the sector.   Touch with Ryan: LinkedIn:  Ryan Duff  Join the Real Estate Hustlers Community: Investor Portal Free Facebook Group Josh Appelman Youtube Apply To Be A Podcast Guest

Chasing Your Real Estate Dreams with B.J. Simpson On this Real Estate Hustlers Podcast episode, we will talk with B.J. has over 15 years of real estate experience and comes from a commercial construction background, having worked on multi-million dollar projects from a young age. Before founding Caprock Wealth, B.J. and his wife Krista built a real estate portfolio across multiple states including assets in single family, short term rentals, and multifamily. They have since been lead sponsors on several successful turnarounds of distressed apartment complexes which they still hold and manage today. B.J. specializes in deal structuring, capital advisory, construction, and risk management. His extensive background in computation fields brings the safety of exceptional underwriting and risk identification to every deal. His finely honed pattern matching and prediction experience formed through his years as a meteorologist has translated exceptionally well to an always-changing economic environment. His years as an IT Specialist keep Caprock Wealth on the cutting edge of new technologies. What actionable value will you provide to our listeners? -BJ has over 15 years of experience in real estate -He transitioned from single-family homes to multifamily investments. -He skipped single-family investing due to management concerns. -Challenges in property management can be significant but manageable -Financing strategies are crucial for successful investments -The current capital markets are unpredictable, with equity being cautious. -Scaling operations requires a focus on efficiency and systems. -Experience and mentorship are vital for navigating real estate challenges -Market research is essential for identifying viable investment opportunities, -Embracing challenges is part of the real estate journey Watch the episode here: Listen to the podcast here: Key Points From This Episode: 1. BJ has over 15 years of experience in real estate 2. He transitioned from single-family homes to multifamily investments. 3. Challenges in property management can be significant but manageable 4. Financing strategies are crucial for successful investments 5.The current capital markets are unpredictable, with equity being cautious. About B.J.: On this Real Estate Hustlers Podcast episode, we will talk with B.J. has over 15 years of real estate experience and comes from a commercial construction background, having worked on multi-million dollar projects from a young age. Before founding Caprock Wealth, B.J. and his wife Krista built a real estate portfolio across multiple states including assets in single family, short term rentals, and multifamily. They have since been lead sponsors on several successful turnarounds of distressed apartment complexes which they still hold and manage today. B.J. specializes in deal structuring, capital advisory, construction, and risk management. His extensive background in computation fields brings the safety of exceptional underwriting and risk identification to every deal. His finely honed pattern matching and prediction experience formed through his years as a meteorologist has translated exceptionally well to an always-changing economic environment. His years as an IT Specialist keep Caprock Wealth on the cutting edge of new technologies. B.J. is fiercely devoted to his investors and partners. His integrity, transparency, and tireless work ethic ensure project performance and investor safety in every deal. Touch with B.J: LinkedIn:  B.J. Simpson Join the Real Estate Hustlers Community: Investor Portal Free Facebook Group Josh Appelman Youtube Apply To Be A Podcast Guest