The Multifamily Wealth Podcast

Axel Ragnarsson
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Axel Ragnarsson speaks with successful real estate investors and dissects how they started, built, and scaled their businesses. In each episode, listeners can expect tactical and actionable information to help grow their business and real estate portfolio.

  1. #314: The 5-Point Framework For Evaluating Passive Investments, Building Investor Relationships, and 2026 Opportunities with Spencer Hilligoss

    1D AGO

    #314: The 5-Point Framework For Evaluating Passive Investments, Building Investor Relationships, and 2026 Opportunities with Spencer Hilligoss

    In this episode of the Multifamily Wealth Podcast, we sit down with Spencer Hilligoss of Madison Investing, for a tactical and transparent conversation on how passive investors should evaluate deals, vet sponsors, and position their portfolios for 2026. Spencer brings a rare dual perspective, having personally invested across dozens of passive deals and raised capital from multiple LPs. Together, Axel and Spencer break down what has changed in the last few years, where many investors went wrong, and what actually matters when building long-term wealth through multifamily and alternative assets. The conversation focuses on frameworks, capital stack awareness, downside protection, and relationship-driven capital formation—all especially critical in today’s post-2022 market environment. If you’re a passive investor trying to invest smarter or a sponsor looking to raise capital the right way, this episode offers practical, hard-earned insight from both sides of the table. Join us as we dive into: Spencer’s journey from tech leadership into passive real estate investingWhy owning rentals with property management is still not truly passiveThe 5-point framework Spencer uses to evaluate sponsors and dealsWhy strong track records from 2020–2022 can be misleadingThe importance of understanding debt, capital stacks, and preferred equityWhy many investors misunderstand whether they’re investing for cash flow or growthHow Spencer organically built an LP base through trust and relationshipsWhat types of deals and structures are most attractive heading into 2026Why conservative projections often outperform aggressive underwriting Are you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities. NH Multifamily Fund III Details: Download The OM For The NH Multifamily Fund III Access The Deal Room For The NH Multifamily Fund III Connect with Axel: Follow him on Instagram Connect with him on Linkedin Subscribe to our YouTube channel Learn more about Aligned Real Estate Partners Connect with Spencer: Follow him on Instagram Connect with him on Linkedin Learn more about Madison Investing

    50 min
  2. #313: Three Pieces of News/Data Informing Our Approach To Investing in 2026... Declining Rents, Higher Home Sales, and Impending Legislation

    JAN 13

    #313: Three Pieces of News/Data Informing Our Approach To Investing in 2026... Declining Rents, Higher Home Sales, and Impending Legislation

    In this solo episode, Axel breaks down three specific pieces of news and data that are directly informing how his team is thinking about multifamily investing decisions in 2026. Axel also explains why increased single-family home sales can actually be a positive signal for rental demand, why nationwide rent declines, even in historically strong markets are changing underwriting assumptions, and why investors must now treat political and regulatory risk as a core part of market selection. If you’re planning acquisitions, evaluating risk, or adjusting operations heading into 2026, this episode provides a practical framework for how to interpret today’s data—and what to do with it. Join us as we dive into: Why higher single-family home sales can actually support rental demandWhat this tells us about supply, demand, and realistic rent growth assumptions.How legislative and political risk is becoming unavoidable in market selectionWhy private property rights should now be treated like any other core investment metricWhy more people moving and transacting is often a sign of housing market health. Are you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities. NH Multifamily Fund III Details: Download The OM For The NH Multifamily Fund III Access The Deal Room For The NH Multifamily Fund III Connect with Axel: Follow him on Instagram Connect with him on Linkedin Subscribe to our YouTube channel Learn more about Aligned Real Estate Partners

    20 min
  3. #312: Vetting Partners, Importance of Transparency, and Diving Into The Pros and Cons of Preferred Equity with Steeve Breton

    JAN 6

    #312: Vetting Partners, Importance of Transparency, and Diving Into The Pros and Cons of Preferred Equity with Steeve Breton

    In this episode, Axel sits down with Steeve Breton, Founder of Velocity Capital Partners, to break down what long-term multifamily investors need to understand about partner selection, transparency with investors, and the growing role of preferred equity and structured capital in today’s market. Steeve shares his journey from buying small duplexes in New England to sponsoring and investing in 25+ large multifamily and development deals across the U.S. The conversation dives deep into how partnerships evolve over time, what can go wrong when alignment breaks down, and why control and transparency have become non-negotiables in today’s environment. The episode also includes an in-depth, tactical discussion on preferred equity and structured equity, including when it makes sense for sponsors, how it protects LPs, and how it’s being used to solve real capital stack challenges in a tougher fundraising market. If you’re a sponsor navigating partnerships, raising capital in today’s environment, or considering preferred equity as part of your deal structure, this episode is packed with real-world insight. Join us as we dive into: Steeve’s path from small local rentals to large-scale multifamily investingWhy partner quality matters more than market selectionHard-earned lessons from partnerships that didn’t work outHow to properly vet partners (including background checks and gut instincts)Why radical transparency is becoming essential for raising capitalHow preferred equity and structured equity actually workThe role preferred equity plays in protecting LPs during stressed periodsWhen preferred equity makes sense for sponsors — and when it doesn’tMarket conditions and deal types Steeve is avoiding todayHow today’s supply dynamics are impacting underwriting and risk assessment Are you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities. NH Multifamily Fund III Details: Download The OM For The NH Multifamily Fund III Access The Deal Room For The NH Multifamily Fund III Connect with Axel: Follow him on Instagram Connect with him on Linkedin Subscribe to our YouTube channel Learn more about Aligned Real Estate Partners Connect with Steeve: Connect with him on Linkedin Learn more about Velocity Capital Partners

    46 min
  4. #311: Sharing 8 Predictions + Trends for 2026 That Multifamily Investors Need To Be Aware Of

    12/30/2025

    #311: Sharing 8 Predictions + Trends for 2026 That Multifamily Investors Need To Be Aware Of

    In this final episode of 2025, Axel shares eight forward-looking predictions and trends that multifamily investors need to be aware of as we head into 2026. Moving beyond the generic predictions found in major publications, Axel focuses on the data-driven reality of the 2026 market. This isn't about following optimistic forecasts; it’s about mapping a strategy based on the actual trends and ground-level shifts we are seeing as 2025 draws to a close. These insights aren't coming from a crystal ball, but from the practical realities we are actively using to shape our own investment strategy for the year ahead. If you’re planning acquisitions, dispositions, or operational changes in 2026, this episode provides a practical framework for adjusting expectations and positioning your business accordingly. The 8 Predictions Covered in This Episode #1: Real estate is becoming a highly politicized asset class #2: C-class valuations will struggle to rebound #3: Light value-add becomes the new standard #4: The property management divide will explode #5: The market trades more efficiently (especially for smaller assets) #6: Price beats amenities in B/C class assets #7: The homeownership gap widens #8: Multifamily valuations stay flat The investors who understand these shifts and position accordingly will be the ones who generate returns in 2026. The ones who keep underwriting (and more importantly, operating assets) like it's 2022-2025 are going to struggle. Are you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities. NH Multifamily Fund III Details: Download The OM For The NH Multifamily Fund III Access The Deal Room For The NH Multifamily Fund III Connect with Axel: Follow him on Instagram Connect with him on Linkedin Subscribe to our YouTube channel Learn more about Aligned Real Estate Partners

    23 min
  5. #310: Growing From a Duplex to 900+ Units and Bringing Management In-House (And The Challenges of Doing So) with Lee Yoder

    12/23/2025

    #310: Growing From a Duplex to 900+ Units and Bringing Management In-House (And The Challenges of Doing So) with Lee Yoder

    Axel sits down once again with Lee Yoder, founder of Threefold Real Estate Investing, to unpack the full journey of scaling from a single duplex to 900+ multifamily units and the hard lessons learned along the way. Lee walks through how he gradually built his portfolio, why he ultimately decided to bring property management in-house, and the unexpected challenges that came with making that transition. He shares what worked, what didn’t, and the mistakes he would avoid if he were starting over today. The conversation then dives deep into team building, operational systems, cash flow discipline, and why in-house management isn’t a shortcut but a long-term strategic decision that requires patience, capital, and leadership. This is an honest, tactical discussion for operators considering vertical integration or looking to improve execution as they scale. Join us as we dive into: How Lee scaled from a duplex to 900+ units over timeWhy he chose to bring property management in-houseThe biggest operational and leadership challenges of vertical integrationThe true costs, financial and emotional of running your own PM companyHow in-house management changes decision-making and accountabilityWhat Lee would do differently if he were starting again today Are you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities. NH Multifamily Fund III Details: Download The OM For The NH Multifamily Fund III Access The Deal Room For The NH Multifamily Fund III Connect with Axel: Follow him on Instagram Connect with him on Linkedin Subscribe to our YouTube channel Learn more about Aligned Real Estate Partners Connect with Lee: Connect with him on Linkedin Learn more about Threefold Real Estate Investing

    48 min
  6. #309: Optimizing Lease Terms, Actionable Budgeting, The True Cost of Turnover, and Becoming A Better Asset Manager with Stacey Hampton

    12/16/2025

    #309: Optimizing Lease Terms, Actionable Budgeting, The True Cost of Turnover, and Becoming A Better Asset Manager with Stacey Hampton

    Axel welcomes back Stacey Hampton, founder of Asset NOI Consulting, for a highly tactical conversation focused on improving multifamily operations in today’s challenging environment. Stacey breaks down how asset managers can move beyond surface-level KPIs and start focusing on the metrics that actually drive performance. She explains how to turn annual budgets into actionable operating plans, how to think strategically about lease expirations throughout the year, and why understanding the true cost of turnover fundamentally changes decision-making. The conversation also dives deep into renewal strategy, retention timing, workforce housing dynamics, and why optimizing for cash flow, not just rent growth is critical for long-term operators. This episode is a must-listen for owners, asset managers, and operators who want to tighten operations, protect NOI, and make better data-driven decisions. Join us as we dive into: The difference between asset management strategy vs. property management executionHow to convert a budget into a clear, measurable action planWhy landing Q1 is critical to hitting annual NOI targetsHow to intentionally manage lease expirations across the calendar yearThe real, fully-loaded cost of a unit turnoverWhy retention and occupancy are often more powerful than rent growthTools and AI resources Stacey is using to stay ahead of operational trends Are you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities. NH Multifamily Fund III Details: Download The OM For The NH Multifamily Fund III Access The Deal Room For The NH Multifamily Fund III Connect with Axel: Follow him on Instagram Connect with him on Linkedin Subscribe to our YouTube channel Learn more about Aligned Real Estate Partners Connect with Stacey: Connect with him on Linkedin

    52 min
  7. #308: The Tactical Guide For Sponsors Looking To Raise Their First $1M, $5M, and $10M in Investor Capital

    12/09/2025

    #308: The Tactical Guide For Sponsors Looking To Raise Their First $1M, $5M, and $10M in Investor Capital

    In this solo episode, we share an extremely tactical, milestone-based roadmap for sponsors who want to raise their first $1M, $5M, and eventually $10M+ in investor capital. Axel explains why each stage requires a completely different set of activities, why brute-force outreach is the only reliable way to raise your first seven figures, and how inbound marketing, email lists, social content, referrals, and track record compounding begin to take over once your investor base matures. This episode is a hands-on playbook for anyone planning to raise capital in 2026, from brand-new sponsors raising for their first deal to experienced operators looking to scale more intentionally. Join us as we dive into: Why raising your first $1M is 100% outbound, brute-force communicationThe experience you must have before raising a single investor dollarExactly what activities sponsors should focus on at the $1M → $5M stageThe content, email, and marketing systems required to attract scalable inbound leadsWhy referrals and repeat investors become the engine behind raising $5M → $10M+How to set process-based goals to grow your capital-raising machine in 2026 Are you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities. NH Multifamily Fund III Details: Download The OM For The NH Multifamily Fund III Access The Deal Room For The NH Multifamily Fund III Connect with Axel: Follow him on Instagram Connect with him on Linkedin Subscribe to our YouTube channel Learn more about Aligned Real Estate Partners

    16 min
  8. #307: An Insanely Tactical Deep Dive Into How Multifamily Investors Can Leverage AI To Grow Their Businesses with Jake Heller

    12/02/2025

    #307: An Insanely Tactical Deep Dive Into How Multifamily Investors Can Leverage AI To Grow Their Businesses with Jake Heller

    Axel sits down with Jake Heller, co-founder of the AI for CRE Collective, for one of the most tactical and implementation-focused conversations ever released on the Multifamily Wealth Podcast. This is a killer episode in how multifamily investors can begin adopting AI today to streamline underwriting, automate repetitive tasks, speed up market research, build better investor materials, and dramatically increase operational output without hiring additional staff. Jake breaks down the exact tools he uses, the automations he’s built, and why AI isn’t replacing real estate professionals, but multiplying their capabilities. If you’re using AI at a bare-bones level (or barely using it at all), this episode walks you step-by-step through where to start and how to integrate AI into your business in a real and meaningful way. Join us as we dive into: Why “AI replacing people” is a misconception—and how it actually amplifies investor productivitySpecific tools multifamily investors should adopt (Gamma, Claude, Grok, Relay, Index/Shortcut, NotebookLM, etc.)How to use AI to automatically: Underwrite deals, pull rent comps and sales comps, create investor decks; summarize calls, emails, and market data and more!How to use AI note-takers, workflow automators, and email-based agentsHow to consolidate your historical data so AI tools can actually learn your voice and processWhat “digital twins” are—and how Jake uses them to simulate the decision-making frameworks of leaders like Stuart MillerWhy the investors who adopt AI today will dramatically outpace those who wait Are you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities. NH Multifamily Fund III Details: Download The OM For The NH Multifamily Fund III Access The Deal Room For The NH Multifamily Fund III Connect with Axel: Follow him on Instagram Connect with him on Linkedin Subscribe to our YouTube channel Learn more about Aligned Real Estate Partners Connect with Jake: Follow him on Instagram Connect with him on Linkedin Learn more about AI for CRE Collective

    43 min
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5
out of 5
306 Ratings

About

Axel Ragnarsson speaks with successful real estate investors and dissects how they started, built, and scaled their businesses. In each episode, listeners can expect tactical and actionable information to help grow their business and real estate portfolio.

Information

  • Creator
    Axel Ragnarsson
  • Years Active
    2020 - 2026
  • Episodes
    313
  • Rating
    Clean
  • Copyright
    © 2026 The Multifamily Wealth Podcast
  • Show Website
    The Multifamily Wealth Podcast

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