Everybody says that they're a contrarian investor right up until it's time to write a check in a downturn.

And right now with multifamily trading at roughly 20% off the peak, the question isn't whether

or not there's opportunity. It's how do you buy this dip without blowing yourself up on the wrong

sponsor or on the wrong assumptions. Welcome back to the real estate investing for cash flow

podcast. I'm your host Kevin Bob, and this is

where active and aspiring investors get the real world playbooks from operators who are out there

in the field actually deploying capital today. And in today's show, we're going to be breaking

down the following. How a professional fund of funds manager vet sponsors in a market full of

uncertainty, where the real opportunities and landmines are in multifamily right now? And then also how diversification inside of a fund can turn one total loss into a balanced win. Lon, I'm excited to have you here to chat with you here today. But before I'd say before we dive into the meat potatoes of it all, maybe if you would, just take a moment or two and expand upon your background a little bit. Tell our listeners, Hugh, you are, who Ironton Capital is, and who you guys are built to serve. Yeah, my background. I worked in corporate finance for a couple of years, went back to business school. I worked as a strategy consultant for eight years at Deloitte and then Accenture, and then I've been in real estate full-time for a couple decades. I built a real estate brokerage from scratch,

which grew to be the largest independent in Colorado, built a title company, sold both of

those off in December of 21, right before the rates went up, and then launched Ironton Capital

in June of 22. I've been investing in real estate for a couple decades as a real estate

developer and a landlord, and basically were just taking the same strategy of what I've been doing for real estate for a couple decades as a real estate developer and a landlord,

and basically we're just taking the same strategy of what I've been doing for the last couple

decades and we're just doing at a larger scale.

And instead of just having a couple friends and family investing along with me, now I can bring

like 100 people at a time to invest along with me.

So it's worked out really well.

Most of the people that we serve are either really busy professionals. They have a lot of stock and bond investment. They want to have real estate exposure, but they don't want to buy a building. So this is an easy way for them to get that kind of diversified access. Or we have a lot of people who have been active investors for a long time. They've kind of gotten frustrated being an active landlord.

They're ready to be passive, but they still want the real estate exposure, and we can solve that problem for them. So that tends to be the two people we serve the most. 2022 launching the company then kind of a precarious time, right? Right for rates were kind of on their upswing. And so talk to me about that a little bit. I don't know what part of 2022. If rates had already started, you know, trending upwards. It was June.

Yeah, so, uh,

rates and or something. And so talk to me about that a little bit. I don't know what part of 2020, if rates had already started, you know, trending upwards.

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