Apogee Wealth Podcast: Wealth, Business & Life By Design

Jonathan Nichols
  • 5.0 (12)
  • Investing
  • Updated Weekly

Apogee Wealth Podcast: Wealth, Business & Life By Design is a show for professionals and investors who want a clearer, more intentional approach to building wealth through multifamily real estate syndication. The podcast focuses on how multifamily investing actually works, from understanding deal structures and underwriting to capital raising, asset management, and long term strategy. Conversations are grounded in real world experience and designed to help listeners better evaluate multifamily opportunities, understand risk, and think like experienced operators rather than chasing surface level returns. Whether you are actively investing in multifamily real estate, exploring syndications, or looking to deepen your understanding of how successful multifamily investors build and manage portfolios, the Apogee Wealth Podcast delivers practical insights, thoughtful discussions, and education you can apply with confidence. This is wealth, business, and life by design.

  1. 6d ago

    The 3 Skills You Need to Succeed as a Multifamily General Partner

    What actually goes into running a multifamily syndication business from start to finish? In this solo episode, I break down the three pillars of multifamily syndication: acquisitions, capital raising, and asset management. A lot of new investors think this business is just about finding a deal and closing it, but that is really just the starting line. I walk through how we source deals through broker relationships instead of cold calling, what separates a good deal from a bad one once you get past the basics of underwriting, and why the last 10% of analyzing a deal is where the real money is made. I also cover the three levels of raising capital, from buying with your own funds to joint ventures to full syndication, and why building your investor pipeline has to start long before you ever have a deal to offer. Finally, I get into asset management, the most overlooked pillar of this business, and why understanding the incentive gap between you and your property manager can make or break your returns. If you are serious about becoming a general partner in multifamily, this episode lays out exactly what the job actually requires.   Timestamp 00:00 Intro 01:25 The three pillars of multifamily investing 02:35 Why broker relationships are the best way to source deals 06:38 What separates a good deal from a bad one once you know the basics 09:47 Key assumptions that go into underwriting a multifamily deal 11:24 The three levels of raising capital for a deal 14:52 Why capital raising starts with relationships not a website 16:54 Why asset management is the most overlooked pillar of this business 18:23 The incentive gap between you and your property manager 20:04 What asset management actually looks like week to week   What I Cover The three pillars of multifamily syndication How to source multifamily deals through broker relationships What it actually takes to know if a deal is good beyond basic underwriting The three levels of raising capital from self-funding to full syndication Why building your investor pipeline has to start well before you have a deal Why asset management is the most overlooked but most critical part of this business How to effectively oversee a property management company   Key Takeaways Strong broker relationships can create access to better acquisition opportunities Capital raising requires building relationships well before a deal is available A strong investor pipeline is more important than having a large social media presence Asset management is hands-on and critical to executing the business plan Your property manager handles day-to-day operations, but the GP still has to provide oversight and accountability Resources Join my Multifamily Advisory Conference on Oct 9: https://www.eventbrite.com/e/multifamily-advisory-conference-tickets-1998949811697?aff=oddtdtcreator Connect With Me🌍 Website: https://www.apogeemfc.com/📸 Instagram: https://instagram.com/multifamilyengineer💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

    The 3 Skills You Need to Succeed as a Multifamily General Partner

  2. Sep 2

    How to Build a Winning Real Estate Portfolio with Perry Zheng

    What actually determines whether a real estate deal succeeds or fails? In this episode, I sit down with Perry Zheng, founder and CEO of Cash Flow Portal, a YC-backed all-in-one technology platform for commercial real estate. Before building Cash Flow Portal, Perry was an engineering manager at Lyft for 5.5 years and worked as a software engineer at Twitter and Amazon. He is also a lead sponsor on over 1,020 apartment units, having raised more than $25 million for real estate projects and generated over 30% annualized returns for investors. You'll learn how Perry built his real estate portfolio from seven single family rentals into a 172 unit, $4.2 million first syndication, and what it actually took to make that jump. Perry breaks down what he believes really drives success in this business, why he thinks about the next few years differently than most operators, and what separates GPs who recover from a bad cycle from those who don't. He also shares what Cash Flow Portal is building to help general partners stay disciplined and survive after they close a deal, from tracking actuals against underwriting to avoiding costly year end accounting scrambles.   Timestamp 00:00 Intro 00:41 Who is Perry Zheng and how he got his start in real estate 04:41 From buying single-family rentals to raising $4.2 million on his first syndication 09:15 How Cash Flow Portal started and what problem it actually solves 15:30 Why macro timing may matter more than operational skill in real estate 23:01 Why buying during the downturn could define the next five years for GPs 27:14 Why real estate returns may just track inflation over the long run 30:12 What Cash Flow Portal is building to help GPs survive and stay disciplined post raise 36:04 Perry's advice for entrepreneurs pushing through a hard season   What We Cover Perry's journey from immigrating to the US to raising $4.2 million on his first syndication How Cash Flow Portal started as a cap table tool and grew into a full operations platform Why timing may matter more than skill when it comes to real estate returns Why now could be one of the best windows to buy multifamily in years What tools GPs need to stay disciplined and survive after closing a deal Perry's advice for any entrepreneur working through a difficult season   Key Takeaways Macro timing may matter more than operational skill; many investors who did well in past cycles underestimate how much timing played a role Over a 30-year period, some markets have only tracked inflation, which means timing your entry and exit is critical Surviving and staying disciplined matters operationally more right now than trying to thrive Reconciling your books throughout the year instead of scrambling in January saves GPs real money on accounting costs The next few years could be one of the best buying windows in real estate for GPs who are still in the game Protecting your internal motivation through hard seasons is what separates people who make it through obstacles from those who quit   Connect with Perry Zheng  Website: https://www.cashflowportal.com LinkedIn: https://www.linkedin.com/in/perryzheng/   Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode! Connect With Me🌍 Website: https://www.apogeemfc.com/📸 Instagram: https://instagram.com/multifamilyengineer💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

    How to Build a Winning Real Estate Portfolio with Perry Zheng

  3. Aug 26

    The Legal Mistakes That Kill Multifamily Deals with Kyle Swafford

    What are the biggest legal mistakes multifamily investors make, and how do you avoid them before they cost you the deal? In this episode, I sit down with Kyle Swafford, real estate attorney and founder of Swafford Law LLC. Kyle earned his JD from Mississippi College School of Law, where he clerked for Mississippi Supreme Court Justice Kitchens, and went on to complete his LLM in Tax through the University of Florida's top ranked tax law program. Before starting his own firm in 2023, Kyle worked as an International Tax Consultant at Deloitte, spent time with the IRS and the Georgia Department of Revenue, and worked at a premier commercial real estate law firm in Atlanta. Today he represents clients in real estate syndication, tax strategy, joint ventures, and commercial lending. We get into the small but costly mistakes new investors make when drafting their first LOI, why touring every single unit during due diligence matters more than people think, and the strategies Kyle uses to protect clients on earnest money terms. Kyle also shares the questions limited partners should be asking operators before investing, and why social media presence should never be mistaken for operational competence. Timestamp 00:00 Intro 02:06 Who is Kyle Swafford and how he became a real estate attorney 05:47 Why touring every unit during due diligence is non-negotiable 09:50 Key mistakes to avoid when drafting your first LOI 14:17 Why buyers should provide the first draft of the PSA 16:02 Strategies for negotiating earnest money and inspection periods 21:35 What passive investors should look for in legal documents 24:53 The most important question to ask an operator before investing 28:18 Why real estate should be judged like any other investment 31:14 Kyle's shift toward a values-driven law practice 33:30 How to evaluate fit and capacity when hiring an attorney 35:09 Why you should not be afraid to raise capital from high net worth investors What We Cover Why touring every unit during due diligence can save you from costly surprises Key mistakes to avoid when drafting your first letter of intent Why buyers should provide the first draft of the PSA instead of using a broker form Strategies for negotiating earnest money terms and inspection periods What passive investors should actually be asking operators before investing Why real estate should be judged with the same standard as any other investment How to evaluate fit and capacity when choosing an attorney or any team member Key Takeaways Always tour every unit during due diligence, sellers have hidden mold, damage, and worse behind locked doors before Submit your LOI under an LLC, not your individual name, and keep it clean, consistent, and under two pages Having your attorney draft the first version of the PSA gives you home field advantage in negotiations The seller holds all the leverage until the contract is signed, after that the leverage shifts to the buyer Ask operators what would actually cause a deal to lose all your money and what they are doing to prevent it An operator's failures and what they learned from them matter more than a polished social media presence Investors should hold real estate to the same standard as any other investment instead of assuming an operator did something wrong when a deal underperforms Connect with Kyle Swafford Website: https://swaffordlawllc.com LinkedIn: https://www.linkedin.com/in/kyle-swafford-819a24bb Instagram: @KyleSwaffordEsq Twitter: @KyleSwaffordEsq Email: kyle@swaffordlawllc.com   Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode!   Connect With Me🌍 Website: https://www.apogeemfc.com/📸 Instagram: https://instagram.com/multifamilyengineer💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

    The Legal Mistakes That Kill Multifamily Deals with Kyle Swafford

  4. Aug 19

    How to Earn Double-Digit Returns Investing In Real Estate Syndications

    In this episode, I walk through the fundamentals of multifamily syndication investing from the ground up. This is a replay of one of our educational webinars, and I wanted to share it here for anyone who has been curious about how these deals actually work but has never had it explained in plain terms. I cover what a syndication actually is, why commercial real estate is valued so differently than a single family home, and how forcing appreciation through net operating income is one of the biggest advantages of this asset class. I also break down the roles of general partners and limited partners, the different ways investors get paid, the fees involved, and what to look for in a sponsor before you ever invest a dollar. If you have ever wondered whether passive or active real estate investing is the right path for you, this episode gives you the full picture.   Timestamp 00:00 Intro 02:54 What is a multifamily syndication 04:41 Why commercial real estate is valued differently than single family 08:52 What forced appreciation means and why it matters 09:36 General partners vs limited partners explained 11:39 Other key roles on a multifamily syndication team 16:15 Understanding risk and reward in commercial real estate 22:53 How a multifamily deal moves from acquisition to sale 25:36 The different types of debt used in multifamily deals 26:44 Key return metrics every investor should understand 29:01 How limited partners get paid through preferred returns and cash flow 31:07 How general partners get paid through fees and profit splits 32:45 Tax benefits of real estate investing 33:43 How the legal structure protects investors 34:27 Accredited vs. non-accredited investors explained 36:32 Key documents to review before investing in a syndication 37:16 What to look for in a sponsor before investing 38:46 Pros and cons of being a passive investor What We Cover What a multifamily syndication is and how the group investment model works Why commercial real estate is valued on income instead of comparable sales The difference between general partners and limited partners How risk reward, and return metrics work in a multifamily investment Why now may be a strong window to invest based on the current market cycle How limited partners and general partners get paid What to look for in a sponsor and key documents to review before investing Key Takeaways Commercial real estate is valued on net operating income, which means increasing income directly increases the value of the property Forcing appreciation through NOI growth is one of the biggest advantages commercial real estate has over single-family investing General partners take on far more risk, time, and liability than limited partners, which is reflected in how each is compensated Real estate is illiquid; only invest funds you can have tied up for the full length of the business plan Preferred returns ensure limited partners get paid first before profits are split with the general partnership Track record, transparency, communication style, and sponsor skin in the game are the key things to evaluate before investing Real estate offers tax advantages that can significantly reduce what investors owe on both real estate and other passive income   Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode!   Connect With Me🌍 Website: https://www.apogeemfc.com/📸 Instagram: https://instagram.com/multifamilyengineer💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

    How to Earn Double-Digit Returns Investing In Real Estate Syndications

  5. Aug 12

    How to Do Your First Multifamily Deal as a General Partner

    What does it actually take to do your first deal as a general partner in multifamily?In this episode, I answer the question I get asked more than any other on social media and at meetups, how do you get started as a GP in multifamily syndication. I share the real story of how Paula and I transitioned from single-family into large-scale multifamily, the mistakes we made along the way, and what finally got us traction after months of trying to figure it out on our own.I break down the three businesses that make up multifamily investing, acquisitions, capital raising, and asset management, and why most new investors only focus on one instead of understanding all three. I also walk through the different paths people take to get started, what financial cushion actually looks like going into your first deal, and the three biggest pitfalls I see new investors make over and over again.If you have ever wondered what it really takes to become a general partner in multifamily, this episode gives you the honest picture. Timestamp 00:00 Intro 02:08 Why we chose the multifamily syndication model over single family 04:37 How Paula and I got started in multifamily and what finally worked 07:07 The three businesses inside multifamily investing 09:36 Why coaching and mentorship accelerate progress but do not replace action 12:06 What financial cushion actually looks like going into your first deal 14:35 Becoming a co-GP and what that path really teaches you 16:39 The perpetual student mistake and why learning alone is not enough 19:09 The isolation mistake and why partnerships are essential in multifamily 21:39 Upcoming events for anyone serious about becoming a GP What We Cover Why we chose commercial multifamily over single family investing The three businesses inside every multifamily syndication What it really takes financially and personally to do your first deal The different paths into multifamily including solo deals and co-GP partnerships The three biggest pitfalls new investors make when getting started Why mentorship accelerates growth but does not replace taking action Key Takeaways Coaching and mentorship can accelerate your progress and help you avoid million-dollar mistakes Going in without enough financial cushion puts you and any partners you bring in at real risk Becoming a co-GP does not teach you every part of the business The perpetual student mistake keeps people stuck learning instead of getting started Partnerships are essential in multifamily; very few deals are ever done by one person alone Trying to do everything alone in multifamily almost always leads to isolation and missed opportunities Being honest about the work and risk involved leads to better outcomes than glossing over the hard parts Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode! Connect With Me🌍 Website: https://www.apogeemfc.com/📸 Instagram: https://instagram.com/multifamilyengineer💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

    How to Do Your First Multifamily Deal as a General Partner

  6. Aug 5

    How to Become a Millionaire in 5 Years

    Is it actually possible to build a million-dollar net worth in five years?In this episode, I break down why building wealth today looks completely different than it did for our parents and grandparents, and what you can actually do about it. Pensions are mostly gone, education costs keep climbing while starting salaries stay flat, and housing has never been more expensive relative to income. But none of that means the path to financial freedom is closed; it just means the strategy has to change.I walk through the four things I believe every young professional needs to focus on: financial education, building the right habits, boosting your income, and investing wisely in real estate and the stock market. I also get into the difference between a 401k and a Roth IRA, why living below your means matters more than how much you make, and how compounding can double your money in as little as five years if you get the right return.   Timestamps 00:00 Intro 01:44 Why building wealth today looks different than it did for our parents 05:07 The concept of escape velocity and why five years of focus matters 06:26 Why financial education is the foundation for building wealth 08:53 How to build good financial habits regardless of your income 11:36 The ten ways to boost your income and why it matters early on 14:14 How to think about investing in real estate and the stock market 16:37 Understanding the rule of 72 and how fast your money can grow 18:11 The difference between a 401k and a Roth IRA 19:40 Advanced investing strategies once you have a foundation in place 21:28 Why becoming a millionaire in five years is more achievable than you think   What We Cover Why building wealth today requires a different strategy than previous generations used The four pillars of building wealth, including education, habits income, and investing How to build financial habits that work regardless of how much you earn Ten ways to boost your income and accelerate your wealth-building timeline The basics of investing in real estate and the stock market The difference between pre-tax and Roth retirement accounts How compounding and the rule of 72 can dramatically speed up your net worth growth   Key Takeaways Pensions are largely gone, which means most people today are fully responsible for their own retirement planning Living below your means matters more than how much you earn when it comes to building wealth Financial education has never been more accessible thanks to tools like podcasts and AI Boosting your income in your first five years can dramatically accelerate your wealth-building timeline Always contribute enough to your 401k to get the full employer match since it is free money A focused five-year effort can put a million-dollar net worth within reach for most people willing to apply these principles Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode! Connect With Me🌍 Website: https://www.apogeemfc.com/📸 Instagram: https://instagram.com/multifamilyengineer💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

    How to Become a Millionaire in 5 Years

  7. Jul 29

    What Every Multifamily Investor Needs to Know About Multifamily Insurance with J.T. Lynch

    Do you actually know what your multifamily insurance covers and what it doesn't?In this episode, I sit down with J.T. Lynch, Commercial Insurance Broker at Ramey King Insurance, specializing in multifamily and commercial real estate risk management. J.T. works with owners, operators, and investors nationwide to structure property, liability, and umbrella insurance programs that meet lender requirements while controlling costs. As both an insurance professional and a passive real estate investor himself, J.T. brings a practical ownership perspective that most insurance brokers simply don't have.We break down the three core components of multifamily insurance, what lenders actually require, and the physical property red flags that can blow up your premiums or kill a deal entirely. J.T. also shares how loss history sticks to a property, not the owner, why crime scores matter more than most investors realize, and how to use insurance estimates during underwriting before you ever submit an offer. Timestamp 00:00 Intro 04:32 The three core components of multifamily insurance 05:17 How geographic risk affects your insurance coverage and premiums 06:32 What lenders require from your insurance policy and why 09:29 Physical property red flags that impact your insurance 10:00 Roof age and why it is one of the most important factors in underwriting 11:09 Aluminum wiring and the fire risk hiding in older multifamily properties 12:02 Federal Pacific and Zinsco breaker boxes and why they matter 13:29 How loss history sticks to a property and affects your premiums 15:03 How to evaluate loss runs when buying a multifamily property 16:07 Why crime scores and high crime areas create insurance exclusions 18:38 What property improvements can lower insurance premiums 20:46 What to do when a tenant files a slip and fall claim 23:17 How to get an insurance estimate during multifamily underwriting What We Cover The three main components of multifamily insurance every investor needs to understand How geographic risk and lender requirements shape your insurance program What physical property conditions to look for that could affect your coverage and premiums How loss history works and what it means when evaluating a deal Why crime scores matter and how they can affect your ability to close How to use insurance estimates during underwriting before submitting an offer What to do when a claim happens and how to be proactive about slip and fall prevention Key Takeaways Property insurance, general liability and umbrella coverage are the three core components of any multifamily insurance program Loss history sticks to the property for five years not the owner so always request loss runs before making an offer Roofs older than fifteen years are valued at actual cash value not replacement cost which can cost you significantly after a claim Aluminum wiring in properties built between 1960 and 1982 can lead to fires and must be mitigated before most carriers will insure the property High crime scores can trigger exclusions for firearms and abuse that your lender will not accept Insurance is currently in a soft market meaning premiums and deductibles are lower right now so take advantage of it Getting an insurance estimate before submitting your LOI is one of the most overlooked steps in multifamily underwriting Connect with J.T. Lynch Website: https://rameyking.com LinkedIn: ​​https://www.linkedin.com/in/jtlynchrameyking/ Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode! Connect With Me🌍 Website: https://www.apogeemfc.com/📸 Instagram: https://instagram.com/multifamilyengineer💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

    What Every Multifamily Investor Needs to Know About Multifamily Insurance with J.T. Lynch

  8. Jul 22

    7 Things Keeping You From Getting Started in Real Estate Investing

    Why do most people who want to invest in real estate never actually get started? Today, I break down the seven reasons most people never succeed as real estate investors. After almost a decade in this business and coaching several students along the way, I have seen the same patterns come up over and over again. And the truth is, it almost always comes down to one of two things: not knowing what to do, or not believing that you can do it. I walk through each of the seven reasons in detail, from analysis paralysis and confusing education with action, to waiting for the perfect deal and thinking you need a lot of money to get started. If you have been sitting on the sidelines wanting to invest but can not seem to get traction, this episode was made for you.   Timestamp 00:00 Intro 01:30 Analysis paralysis and why it stops most new investors 08:27 How to use books, podcasts, and mentors to build your foundation 13:15 How the house hack strategy lets you get started with less money 15:44 How the BRRRR method works for low money down investing 17:13 How partnering and using other people's money opens doors 20:23 How to build the right team for your real estate investing strategy 23:33 How to identify what is holding you back as a real estate investor   What I Cover The two root causes behind every reason people fail to get started in real estate Why analysis paralysis is the number one thing holding new investors back How to know when you have enough education to take action Why there is no such thing as a perfect deal and what to look for instead How to get started in real estate investing with little to no money Why trying to do everything alone is one of the biggest mistakes new investors make How ego quietly kills deals and investor careers before they ever get off the ground   Key Takeaways Most people never get started in real estate because they either do not know what to do or do not believe they can do it Education gives diminishing returns over time, at some point you have to stop learning and start doing There is no perfect deal, the skill is knowing the difference between a deal killer and an obstacle you can work through A house hack lets you get into your first property with as little as 5% down at a personal residence interest rate Partnering with someone who has capital is a legitimate path to your first deal even if you have little money of your own Building the right team is what separates investors who scale from those who burn out trying to do everything themselves Hit follow or subscribe wherever you’re listening, and I’ll see you in the next episode! Connect With Me🌍 Website: https://www.apogeemfc.com/📸 Instagram: https://instagram.com/multifamilyengineer💼 LinkedIn: https://www.linkedin.com/in/jonathan-nichols45/✉️ Subscribe to my newsletter: https://www.apogeemfc.com/contact

    7 Things Keeping You From Getting Started in Real Estate Investing
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Apogee Wealth Podcast: Wealth, Business & Life By Design is a show for professionals and investors who want a clearer, more intentional approach to building wealth through multifamily real estate syndication. The podcast focuses on how multifamily investing actually works, from understanding deal structures and underwriting to capital raising, asset management, and long term strategy. Conversations are grounded in real world experience and designed to help listeners better evaluate multifamily opportunities, understand risk, and think like experienced operators rather than chasing surface level returns. Whether you are actively investing in multifamily real estate, exploring syndications, or looking to deepen your understanding of how successful multifamily investors build and manage portfolios, the Apogee Wealth Podcast delivers practical insights, thoughtful discussions, and education you can apply with confidence. This is wealth, business, and life by design.

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