The Tony Stephan Show · Episode #020
I Held An 80 Person Multifamily Mastermind In California
Tony and Andrea Stephan hosted their largest event yet, the One Day Small Multifamily Mastermind, in Southern California. Eighty coaching clients, students and friends came to learn the small multifamily BRRRR method and to meet each other. Tony says their goal is not the biggest rooms but the best ones.
The video moves through the day. Tony opens with faith versus fear, and clients explain why they joined. Tony shares how he negotiated a roof credit, getting real quotes and settling at $150,000 of the $200,000 he asked for, and why he wants his down payment back in two to three years. Guest speakers talk about standards, mentors and being in the right rooms.
Then the clients who bought deals come on stage: Roxanna with a 6 unit, Hugo with 23 units, Walter with his 13 unit in Oxford, Victoria with her 19 unit, Keith with his seller financed 9 unit and Nick Riley. Each shares a piece of advice for anyone afraid to start. Andrea closes with the difference between asset management and property management: keep the P&Ls current, work delinquency every day and document everything.
Watch the full episode · Watch on YouTube
Key takeaways
- Faith or fear is a daily choice. Proximity to people one or two chapters ahead makes the next step feel possible.
- Tony wants his original down payment back in about two to three years through a refinance.
- When negotiating a repair credit, get real quotes and a full report, then know what is reasonable to accept.
- Clients' common advice: do not overthink it, get uncomfortable, and get in rooms with people doing what you want to do.
- Asset management is not property management. Block time to keep your P&Ls current so you can plan CapEx and turns.
- Work delinquency daily by phone, text and email, and document every contact, because evictions are inevitable.
Chapters
- 0:00 Kicking Off the One Day Mastermind
- 0:58 Faith or Fear
- 2:33 Why Clients Joined
- 4:12 Get Your Money Out in Two to Three Years
- 5:00 Negotiating the Roof Credit
- 5:47 Guest Talks
- 9:49 Mentors and the Right Rooms
- 11:22 Celebrating Client Deals
- 17:09 Everyday People
- 18:40 Asset Management vs Property Management
- 20:31 Recap
FAQ
What was the One Day Small Multifamily Mastermind?
An in person event Tony and Andrea Stephan held in Southern California for 80 coaching clients, students and friends. It covered buying right, underwriting, financing and the value add strategy, with guest speakers, a dinner and awards for clients who bought deals.
Which clients were recognized on stage?
Roxanna for a 6 unit, Hugo for 23 units across two deals, Walter for his 13 unit in Oxford, Victoria for her 19 unit, Keith for his seller financed 9 unit, and Nick Riley.
What advice did the clients give?
Do not overthink it and take the first step. Get comfortable being uncomfortable. Find mentors and get in rooms with people who are doing what you want to do. Keith said the cash out refinance is what changes everything for him.
What is the difference between asset management and property management?
Andrea explains that property management is the day to day: residents and maintenance. Asset management is the owner's job of keeping P&Ls current and planning CapEx and unit turns. She says you cannot make decisions if your P&Ls are not up to date.
Inside Tony Stephan's 80 Person Multifamily Mastermind
The biggest event yet
Tony and Andrea hosted their One Day Small Multifamily Mastermind in Southern California, with 80 coaching clients, students and friends in the room: husband and wife teams, fathers and sons, families who want to change their financial future. "We don't put on the biggest events, but we put on the best events," Tony says. The day covers the small multifamily BRRRR method, from buying right and underwriting to financing, value add and the cash out refinance, but also the connections that turn knowing into doing.
Faith or fear
Tony opens with a choice he says everyone makes every day. "Faith says even if, I'm going to figure it out. Fear says what if." The power of the room is seeing people one or two chapters ahead and thinking, if they can do it, I can too. He admits he feels pressure every day, with residents, businesses and a team depending on him, and he has reframed pressure as privilege.
Clients share why they joined. They talk about borrowing Tony's confidence, working from a blueprint instead of theory, and being supported by people who care. One says the choice is simple: his money goes either to the IRS or into multifamily he owns and controls.
Money back in two to three years
Tony explains his goal on every deal: get the original down payment back in two to three years through a refinance. He likes being in a position of power with lenders; on one deal he had four lenders lined up and used their offers against each other.
He also shares how he negotiates. When the roofs on a property turned out to be bad, he did not make up a number. A roofing company inspected the property and wrote a full report, and he asked the seller for $200,000. They settled at $150,000. "You're going to come up with a number in your due diligence. You're not going to get all of it. You got to know what's reasonable."
Guest talks
Guest speakers bring their own lessons: raising your standards starting with the first minute of the day, staying hungry, not worrying about what people think, and taking the next step in faith even without seeing the whole path. Tony's longtime mentor encourages the audience not to compare their first year to Tony's fifth or tenth. Cody, a guest who has exited several companies and owns multifamily, tells the room to invest in a mentor about five years ahead of them and to see it as an investment, not a cost.
Tony shares the mission behind it: helping 1,000 families buy their first small multifamily deal. "We're not looking for more clients, we're just looking for more success stories."
Clients on stage
Then the awards. Roxanna bought a 6 unit; her advice is not to overthink it. Hugo has 23 units across two deals and tells people to get uncomfortable and not let money sit in the bank. Walter describes his 13 unit in Oxford, with rent rolls on binder paper and new leases at double the old rents. Victoria bought her 19 unit to push outside her comfort zone. Keith says his seller financed 9 unit is not an income play; the cash out refinance is what changes everything. Nick Riley says getting a mentor changed everything.
Tony points out that none of them came from wealthy real estate families. They are barbershop owners, busy parents, W2 workers and business owners who took action and trusted the blueprint.
Asset management vs property management
Andrea closes with a lesson she wishes she had learned sooner. Property management is the day to day: residents and maintenance. Asset management is the owner's job. You cannot make decisions if your P&Ls are not current, so block time to update them and plan CapEx and unit turns. Delinquency is worked every day by phone, text and email. And document every contact in your management software, because if you own rentals, at some point you will file an eviction.
Transcript
0:00 We're here in Southern California, ready to kick off our largest event ever, the one-day small multifamily mastermind. We have 80 coaching clients and students and friends here today, all to learn the small multifamily burn method, how to buy a deal right, how to underwrite it, finance it, get the value-add strategy put into place so you can do a cash-out refinance and repeat it. We have husband and wife teams in here. We have sons and fathers in here. We have families in here who want to change their financial future with small multifamily real estate. And we always say we don't put on the biggest events, but we put on the best events because we are all about quality of members, we're all about quality of connections. We are going to shake hands together, we're going to break bread together. You're going to get to see the entire behind the scenes of building a movement, a movement of people changing their families' financial future with small multifamily real estate because I know every single family in America needs to own one small multifamily apartment deal, and one small multifamily apartment deal will change your life.
0:58 This is where we learn the strategy but this is also where we form the connections and the community that helps take knowing to doing because that's the power of proximity. That's why we say live events change lives. You get to see it. Let's get to it. Faith says even if, I'm going to figure it out. Fear says what if, what if this doesn't work out. What if no one I'm going to buy this apartment building and no one pays the rent there, right? What if man, I'm going to fly out to California and I'm going to get grabbed by a homeless person cuz I hear there's a bunch of homeless people in California, right? You know, you have to you have to choose, right, every day, faith or fear. So really we're going to bring you guys together, connect you with each other to learn that those who just choose that faith, right, every day, they get to their goals and that's the power of this.
1:44 And the power of these rooms too is seeing other people who are maybe just a little bit further ahead of you, maybe one chapter or two chapters ahead of you to be able to say, man, if they're doing it, I can do it. But that's really just my ask for you guys. Like we this very seriously. You guys are our world. I do not take for granted you guys being here. I don't. I know you have a lot of options, a lot of choices, a lot of different things you could be doing. That's why I said the power's in this room. It's like the VIP room, right? The These are you guys are the ones playing at the highest level, right? So, I just want to remind you every day you have that choice. And every day I feel it, too. Trust me, I wake up every day with feeling of pressure, right? I have 377 tenants. I have three businesses. I have team members, right? I have a lot of people depend on me. But, I reframed and relabeled pressure as privilege. The only people don't feel pressure are the people who aren't out there impacting, right?
2:33 Impacting their lives or families' lives, future families' lives, their communities' lives. That's the crazy powerful thing about multifamily. It goes beyond you. It's generational. It's for you, your family, your community, right? So, just remember that. Every day you have that choice, faith or fear. I hope you choose faith. Tony has eliminated this process of thinking and being uncomfortable or, you know, being I get to borrow his confidence in a sense, right? Because he knows what to do. He has a blueprint. We don't talk theory. We just go look at deals and we shop deals. We're in the trenches doing the work. I'm not going to lie to you. They care. And they're always looking out for you. They're not looking out for themselves. They're actually wanting to help people and help a person like me, like you, to succeed.
3:22 They're so grounded. They're amazing people. They really want to help others and that's really what kind of got me into joining the club with them. They're very intelligent. They know what they're doing. And so, I just I love them. They're awesome. I think the biggest takeaway from working with Tony and Andrea is just go do it, right? Like, just go act. Just go bet on yourself, right? Because they're going to be the support system and the structure behind the scenes that are going to give you that confidence and that knowledge base to go perform and execute they're teaching you. My money's got to go. It's either going to the IRS or it's going to Intel Multifamily. Pretty simple decision, right? I'm either going to go put my hard-earned money in an asset that I own, I control, I can refi out, get tax-free capital from, or I got to give it to the IRS.
4:12 Warren Buffett said to never buy an asset with the only way to make money is you have to sell the asset. So, we are always looking at can I get my money out in 2 to 3 years? My money being my original down payment. I want you to have options. I want you to have choices. I want you to be able to do what I did. I got picky with lenders. I had four lenders lined up to give me money in this deal. That's a place of power. Cuz then you know what you do? You go to all of them and you say, "Look what they're offering me. Can you do this?" You It's like It's a play It's a powerful position. But, if you're rushing, if you're needing, you're not able to get to that. Be a problem finder, a problem solver. Problem finder, problem solver. Don't think problem, think solution. So, I said, "Okay, roofs are bad. You guys didn't tell me the roofs were bad. We need a credit for the roof. But, now I didn't just make up a number.
5:00 We called a roofing company out to do quotes. They inspected it, they put a full detailed report together, and I was like, "Hey guys, we need 200K for these roofs." They're like, "Oh, of course They of course they lost their you know what." Right? They lost their mind. So, I believe we ended up settling at 150K. Very important I want you guys to understand. You're going to come up with a number in your due diligence. You're not going to get all of it. You got to know what's reasonable. To me, this was reasonable. I'm like, "Okay, 150K out of 200K, this is reasonable. I will do this deal." Like, inch by inch, we fought for this deal. The $100 million CEO is not hitting the snooze button first thing in the morning and choosing 10 more minutes of shitty quality sleep over getting up and dominating his life.
5:47 He realizes that first act of hitting the snooze button gives him a L. Immediately you stack your first L. Oh Big Rome, don't be so dramatic. It's just a tiny little thing. Study after study show that your little L stacks up to a bigger L, to more L's and that day is lost. This is why they have studied IBM sales people in IBM and they found that when they are you close the deal, you're more likely to close your next deal. You lost the deal, you're more likely to lose the deal. As an entrepreneur, shit's already going to go wrong. Why wake up and leave everything to chance? I have high standards and I structured my day, my time, when I eat, what I eat. So specific that I needed to finish the shoot this morning, decompress for another hour and a half, eat small amount to not spike the insulin so I can still stay hungry when I'm here on stage because I am convinced that term stay hungry there's a reason for it.
6:39 Stay hungry, there's a reason for it. When the cavemen are hungry, they could hear that saber-tooth tiger from far away, they can smell him coming. When you're satisfied, eh, there's no drive. And if I'm going to deliver for you, I need to stay hungry. 6-7 years ago, met with my mentor first time he said, "Dude, one day you will fill up rooms, you will have people come speak to you and come to your man." Always hear speaking with me. Bigger as my stage gets, I will always bring you out there, man. So it's just always remember, guys, prior to mentorship, no one gets here alone. Always remember, pay back those who showed you the game, right? Who taught you the game, right? Always just a really rewarding thing to have. Thank you. And can I just say something about you to your YouTube followers cuz you would never say it since you're such a humble Midwesterner?
7:27 Yeah, there you go. Guys, look, I've known him since he was shy and clunky and awkward. The version of him that you see on YouTube and on the social media platforms, who can orate, who can story tell, who can make you think and make you cry and make you laugh, that is skills that he's developed. And so don't ever compare your one year to his five and 10 years. And I'm here to encourage you that I've seen the version of him that you are now and you can become him in the next five or 10 years if you commit and you work with someone like him who's been there and done that. You know what I'm saying? Appreciate it, brother. Yep. Thank you. You think people are going to make fun of you? They're making fun of you and judging you regardless. They're judging you if you're tall, they're judging you if you're short, they're judging you if you're fat, they're judging you if you're skinny, they're judging you if you're rich, they're judging you if you're poor. You are getting judged regardless. So just go to the casino of life and go all in on you.
8:16 Who cares what they think? It's your life, it's not theirs. Did you know what people say is their number one reason why they don't do something? It's not fear. It's fear of what people will think of them. Trust the redirect. My friends, that's one of God's greatest gifts to us. We may not see every step of the way, but God's gracious enough to give us our next step. But we have to act. And we have to act with faith, sometimes not knowing what the outcome's going to be. And when you take that step, God is kind enough to light up the next step. But you probably will rarely ever, if ever, see the whole path from start to end. What does a 377 door operator look like? You have one sitting right here in this room.
9:02 What are the skill sets, mind sets, what are all the things that he has and his wife? I will not leave you out of this. Wherever there's a good man, there's always a way better wife. When you become this individual, you will attract these doors into your life. Who's with me? I'm going to go Tony. Say I. I. Okay? Like that's the that's the reality behind all this. It's nothing more than just becoming the person that's worthy of the goal that you want to accomplish. It's going to take work. You can't just expect 377 doors when you have leadership like a 2-year-old, it's not going to work. Just wrapped up. Cody crushed it, man. Absolutely crushed it on his talk. Dude exited four companies, wholesaler, you own multifamily, own businesses.
9:49 You know, power and proximity. You know, we got connected through mutual friend Bedros Keuilian. Came out here, delivered it massive value for our audience, dude. So, just give YouTube, since they're not here in the room, give them a quick high-level I mean, you went in depth. You went in depth. But give them a high-level overview. What do they need to do, man, to be successful? Goodness. So, first and foremost, Tony, No, here's the best part is these rooms are meant to putting yourself around people that are 5, 10 years ahead of you. Tony, as I looked at this room, I came here obviously as a guest and become speak, I see how many people see that in you, that you're the one 5, 10 years ahead. But the secret sauce, guys, is that pattern right there. There's too many times we're just going to YouTube university and trying to find out how to do everything. I would tell you, invest your money in a great mentor that's 5 years ahead of you, someone like Tony.
10:37 If you want to get into multifamily, this is your guy right here. But then put yourself in the right room. Like take the action. Take the step to do something uncomfortable. It's not easy. It's not always easy to pay the price to be in the room, but look at it like an investment. Don't look at it as a cost. There is no cost to this. It really is investing in your future and investing in something that's going to be lifetime for you. Our mission is to help a thousand families buy their first small multifamily deal, right? Every man, every woman needs a mission bigger than themselves, and we're committed to this because we believe the more we can help other people win, the more we win, right? And there If you If you heard these stories, too, you heard these other people talk, there was a recurring theme. I want to do something bigger than myself. I never gave up. I wanted to create something.
11:22 I wanted to give back, right? You heard my mentor. You heard Cody, very successful people. Like there's just an abundance mindset. People who People who say it's lonely at the top, I guarantee have never been at the top. We can all win. There's enough for all of us, right? We want every single person in here to ascend. That's why we always say we're not trying to build the biggest rooms, trying to build the most quality rooms. We say it all the time, Angeline and I say it all the time when we talk to potential new members. We're not looking for more clients, we're just looking for more success stories. So, we wanted to take a minute. I believe celebration is the highest form of energy creation, right? We want to celebrate some success, right? Not just Andrea and I success, but some of you guys success. Success. So, clap it up for Roxanna getting a six-unit apartment. Knowing what you know now, what would you say was one of the biggest like challenges with doing the what your first deal here?
12:09 Figuring out exactly what to do. Get a plan together, but that's what you guys were there for to help out. What piece of advice would you give to someone listening to this who's like, "Dude, I want to do this. I want to get my first deal. I'm nervous too. I'm freaking out on the inside, too." What would you just say to everybody here? I would say don't overthink it. Just take the first step and just do it, you know. Fear does it have a face? So, you can't really see it. So, I would just say do it and go for it. Just take the risk. I mean, you never know what's going to happen. Get out of your comfort zone. The best thing is to just get in the game, right? It either gets you started in the game or it's something that's going to level you up to whatever is coming next and potentially change your life. Yeah, I think everybody's going to be naturally nervous. Yes. It's a it's a normal feeling to be uncomfortable, but if you want to be comfortable being uncomfortable, you got to do it and you got to do it multiple times to a point where it's going to become natural.
13:05 We got Hugo for the Davison deal, 11 units in the White Lake portfolio deal, 12 units, 23 total units. Come on up, dude. Come on. Get uncomfortable. And if it's in your mind, like Cody said and if it's telling like you the little voice is telling you to do it, then do it. That's your sign. And don't shy it don't shy about it. Don't be shy about it. And don't let fear get in the way. Seriously, like Ryan and everyone else that did the podcast yesterday talked about faith. Have faith. Get in the unknown. It's a reason why it's the unknown. You don't know what's going to happen, but you know that you're going to make it through. So, do it. If it's just lingering keep on lingering like that little voice is keep on telling you do it, do it. Don't be afraid. Because you know what? You turn into someone else.
13:54 You will. And you wouldn't you wouldn't believe what you can do. And you become limitless and you break those self-limiting beliefs. So, if I was you guys, you guys have the money don't let that money sit in the bank. It's doing you no doing you no good. Get into it. Seriously. It's worth it. All right. Next award is for the 13-unit massive value-add deal in Oxford for Walter. So, clap it up for Walter. What would you say to someone who's like, "I hear it. I want to bet on myself. I'm afraid." Yeah, well I right again coming back to mentorships, right? Like go get in the rooms. Go have conversations with the people that are doing what you want to do. Because like that's going to give you the confidence to move. You know, cuz it's the deals are messy, especially like the ones that you know, I got the deal that literally had rent rolls on a piece of binder paper that I'm pretty sure the listing agent wrote for the seller.
14:47 Right. And you know, like there's just a whole bunch of stuff behind the scenes. It's like you don't really know and like you get in it and you go you bet on yourself. And you know, like now we're I mean I mean we're in a great place, right? Like we've literally signed leases at you know, double gross rents of like what they were at 60-90 days ago. Yeah. So, now I'm just kind of like I believe, right? Like there's you see Andrea's projections on you know, rent like I still have the six cell spreadsheet from when she sent it. I'm like, "Okay, yeah, sure. It kind of sounds great." But like there's still that fear until you sign those leases, right? And then you know, there's going to be a problem next week, but that's like that's why you're doing it, too. It's cuz like you want that big payday. You want to bet on yourself, right?
15:33 You don't want to be just like everybody else cuz otherwise you would just go be like everybody else, right? Now we've got Victoria, so Victoria can come on up. It was a beautiful 19-unit deal. I wanted to grow just because I wanted to really like jump outside of my comfort zone. I learned a lot a lot about multifamily from Tony just looking at his videos and stuff and I just was kind of like, I think I could do that, too. So it wasn't really like, oh I was comfortable with multifamily, but I wanted to diversify. I wanted to do something. I wanted to challenge myself, so that's what I did. Nine-unit, another seller finance deal. So clap it up for Keys. I went into it with a different perspective. As a business owner, we're looking at income, you know? We have to survive. And this is not an income play, you know?
16:20 It's not something that, you know, it you had changed my mind on that. And you know, we're doing the numbers and at the end I'm like, man, like we're only going to end up with like maybe $13,000 at the end of this year, you know? Like that's you can't live on that. And you know, as we started to gravitate and get into it, she you know, and Andrea said, just, you know, trust me. You'll learn it. You'll figure it out. And we had to get our feet wet. We had to learn. We had to go through the process and we're still in the middle of it now, but it's now that I'm actually seeing the mass benefits are going to come out from the cash out. You know, the cash out is going to change everything. I mean, what we got that place for to what how much value out there was. My god, we're going to end up three x'ing what we put in. So I mean, if that's not proof, I don't know what else, you know, what else is. Self Nick Riley, so come on up. What made you shift from like it was years of like thinking to now like I'm doing?
17:09 Definitely getting a mentor. I mean, that changed everything and just having, you the confidence to be able to execute the plan, the blueprint. I've always said like Andrew and I are not the smartest people, right? We don't come from a real estate background. We're just everyday people. We just chose to take massive action. And you heard everybody's story here, right? Who here said, "Well, my mom and dad owned thousands of units and they just gave me or like my uncle right?" It's all very grassroots story, right? Everyday people, barber shop owners, busy moms, right? W2 workers, business owners. They just took massive action. To me, this is the most freaking rewarding feeling. I wanted to like align it up and see it all, right? And just see the action taken.
17:55 I know there's obviously adversity, there's obviously challenges, there's obviously things you go through, but if they just run the blueprint, they take care of these assets, these assets will take care of them for the rest of their life. Whether they go to 100 units or they just keep their one deal here, right? So, I also wanted to show you guys that's the power, man. They did it. So, what you should be sitting here saying is, "They did it, so can I do it, right?" Because no one here said something so unique, so special that's like, "Man, there's no way I could do that." Right? It's all very similar stories. I was afraid, I took massive action, I bet on myself, I trusted the guidance, I trusted the blueprint, and I followed through whether I whether I felt like doing it or whether I had the fear with it or not. So, we want more, right? We want more of you guys to do this.
18:40 We get no fulfillment if you guys don't go through with this, right? And we're here to help you guys. So, next time when we all meet in September, I want a whole 'nother line of people up here who have done it. So, remember, if we can do it, you can do it. You just got to bet on yourself and follow the blueprint. So, one more time, can you guys clap it up for everybody? Congratulations. So, I want to start out with again like going back to when we started this, right? Started managing our own portfolio and some things that I wish I would have done a little bit differently, but it's just because I didn't know any better so that you guys can benefit from that. So, I just want to start out with one thing that I did not realize from the beginning was the difference between an asset manager and a property manager. And that kind of clicked probably about a year ago as our portfolio grew, but I thought this would be really important just even if I had starting with like our seven unit, the difference between managing the asset and managing property management.
19:39 So, your property management is your day-to-day, like talking with your tenants, your maintenance. Can't make decisions if your P&L's are not up to date. So, that's why again, it's so important to take that time, block off an hour, two hours, however big your portfolio is that you need to make sure that those are up to date. Because you can't future plan for your CapEx projects, your unit turns. Delinquency needs to be addressed daily by we do phone, text, and email. Can't get a hold of anybody, we have emergency contacts we call, we call their employers for several reasons, but we can't get a hold of you, we can't get a hold of you. So, we're going to use every contact that we have to try to get a hold of you for your payments. You just always want to say why you're calling and document everything because if you own multifamily, if you own any rental properties, it's inevitable you are going to end up filing an eviction on somebody.
20:31 It's going to happen, so just get used to the habit of documenting everything. And again, this is why you want your property management software. You can put notes on your tenants, on your properties. So, just make sure any phone call that you make, you just put a simple note on there. Called on 5/2, spoke for two minutes, or no answer, right? And what you spoke about. So, you just got to see behind the scenes at our one day mastermind. You got to see the dinner, you got to see the teachings, you got to see my mentor talk, you got to see Cody talk, you got to see my wife talk, you got to see the transformations. I mean, we had so many clients who have come through and bought a deal, and they taught you. They you. Have confidence, have a blueprint, take massive action, and bet on yourself. So, as always, thank you so much for being here. We want to bring you inside our journey as we're growing this community of action takers because we believe every single family in America needs to own one small multifamily apartment deal.
21:22 And one small multifamily apartment deal will change your life. Now, before you go, if you want to learn more about what we're doing inside the multifamily mastermind, click the link in the description, fill out our mentorship program. If we feel it's a good fit, my wife and I will reach out and we will personally work with you, just like we did with our students here that you got to see, to buy your first deal. As always, if you enjoyed the video, be sure to comment, like, and subscribe. We're almost at 100,000 subscribers on YouTube, so please join the community. Grab my book. Sells for 20 bucks on Amazon or click the link in the description to get a digital download. And seriously, thank you for being here. Thank you for being on this journey of my wife and I and now our students. And remember, one deal will change your life, but you've got to be willing to take action on it. Till next time, we'll talk soon. Thanks.
Topics: Coaching Day, Mindset, Mastermind
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With Tony Stephan · May 2, 2026 · 12 min
A client couple underwrote a 17 unit offered with seller financing. Tony checks their work and explains why he would pass. - Episode #018: He Bought An Off Market 10 Unit Apartment After Joining My Coaching Program
With Nick Riley, mentorship client, construction professional and sole provider · April 28, 2026 · 27 min
Ten years of almost buying, then an off market 10 unit within about two months of joining the program. - Episode #017: How One Duplex Became A 10 Unit Apartment Through 1031 Exchange
With Daniel, mentorship client and barbershop owner from Brooklyn · April 22, 2026 · 20 min
A $525,000 duplex in New Jersey, a 1031 exchange, and an off market 10 unit in Metro Detroit with seller financing. - Episode #016: New Multifamily Investor Buys 19 Unit Apartment (Deal Breakdown)
With Victoria, mentorship client, investor and tax business owner from Detroit · April 5, 2026 · 28 min
From a $1,000 land bank house in 2017 to a 19 unit in Detroit: Victoria on cash flow, scale and pulling the trigger. - Episode #015: Small Multifamily BRRRR Breakdown: A 13 Unit Apartment With $500 Rent Growth
With Walter, mentorship client, former sheriff's deputy and house flipper · March 29, 2026 · 33 min
A 13 unit that last sold over 50 years ago, rents at $450 to $545, and a client who beat two cash offers to get it. - Episode #014: Teaching Our Clients How To Manage Their 10 Unit Small Multifamily Deal
With Nick and Kaylnn Riley, mentorship clients from Arizona who just closed on a 10 unit · March 12, 2026 · 13 min
Behind the scenes of a coaching day: the deal is closed, and now the Rileys learn where the money is actually made. - Episode #013: How Much Can I Pay For This 33 Unit Apartment? (Deal Breakdown)
With Tony Stephan · February 19, 2026 · 18 min
A client sent Tony a new construction 33 unit in Florida. He reads the offering memorandum live and decides whether to pass. - Episode #012: New Multifamily Investor Is Buying A 50 Unit Apartment (Deal Breakdown)
With Tony Stephan · February 3, 2026 · 18 min
A brand new client put an off market 50 unit under contract. Tony's checklist for deal or no deal, with the math. - Episode #011: Buying An Off Market 10 Unit Small Multifamily Apartment (Client Success Story)
With Daniel, mentorship client, entrepreneur from the New York area · January 6, 2026 · 16 min
Daniel sold one duplex and bought a 10 unit: two green houses for a red hotel, with seller financing and a 1031 exchange. - Episode #010: Small Multifamily With Massive Profit: $700K on 12 Units
With Tony Stephan · November 11, 2025 · 11 min
A client's 12 unit on the whiteboard: modest cash flow today, and about $768,000 of equity from bringing rents to market. - Episode #009: 24 Year Old Buys 14 Unit Multifamily Apartment (BRRRR Method)
With Nick, mentorship client, 24 year old construction business owner · July 27, 2025 · 16 min
He started raking asphalt at 15. At 24, Nick runs a 60 person construction company and just bought his first 14 unit. - Episode #008: Why He Sold 8 Single Family Rentals To Buy A 12 Unit Small Multifamily Apartment
With Dr. Ade, physician, business owner and Stephan Group client · June 1, 2025 · 15 min
A surgeon traded eight scattered single family rentals for a 12 plex and a duplex through one 1031 exchange. - Episode #007: Buying a 14 Unit Small Multifamily Apartment for $1.8M?
With Tony Stephan · May 27, 2025 · 19 min
A clean 14 unit with upside for a first time buyer: Tony adds up fees, bill backs and savings worth about $714,000 of value. - Episode #006: How These New Real Estate Investors Bought 23 Multifamily Units In 1 Year
With Hugo and Joe, coaching and Stephan Group clients from California · May 25, 2025 · 15 min
A 12 unit in April, 11 more under contract with 5.5% seller financing a month later: Hugo and Joe are not slowing down. - Episode #005: I Can't Believe This Apartment Is Only $1M! Multifamily Deal Analysis
With Tony Stephan · May 11, 2025 · 33 min
An 18 unit collecting a fraction of its market rent: a big problem with big upside, underwritten for a coaching client. - Episode #004: Buying A 9 Unit Apartment With 5.5% Seller Financing
With Keith, mentorship and Stephan Group client, roofing business owner · May 4, 2025 · 32 min
Keith and his wife Angela skipped single family and bought a 9 unit in Clarkston with seller financing at 5.5%. - Episode #003: Buying A 12 Unit Apartment For $1.5M? Multifamily Deal Analysis
With Jerome, coaching client trading single family rentals into multifamily · April 29, 2025 · 54 min
An off market 12 unit with a very light P&L, and the creative ways Tony adds NOI beyond raising rent. - Episode #002: Buying A 12 Unit Apartment For $800K? Multifamily Deal Analysis
With Shelby, coaching client, first multifamily deal search · April 16, 2025 · 57 min
Tony underwrites a 12 unit his coaching client found on LoopNet, line by line, and shows where the value is hiding in the fees. - Episode #001: How This Out of State Investor Bought His First 12 Unit Multifamily Apartment
With Hugo, mentorship and Stephan Group client, W2 worker from Los Angeles · April 13, 2025 · 27 min
Hugo bought a Metro Detroit duplex he has never seen in person, raised the rents in year one, then traded it for a 12 unit.
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