Property Profits Real Estate Podcast

Chris Wise is not looking for the largest apartment buildings in the market. He is focused on a smaller Class C multifamily range that he believes often sits between large institutions and smaller local owners.
Expanded Description
Chris and his team focus mainly on 20 to 60 unit Class C properties in Louisville and other Midwest markets.
Part of the opportunity comes from problems other buyers may not want to handle. Chris talks about deferred maintenance, inaccurate property information, older building systems, and properties that may have been poorly managed.
Instead of building the plan around rent increases alone, Chris says his team puts major attention on expenses. That includes property management, maintenance, utilities, billing, and replacing problem components before they become larger failures.
He also walks through a Louisville property that was about 60 percent occupied when they bought it. After repairs, inspections, lease work, and renovations, the property reached about 95 percent occupancy in roughly three months.
Key Topics and Takeaways
Why Chris focuses on Class C properties with about 20 to 60 units
The gray area between larger institutions and smaller operators
Why deferred maintenance can create both problems and opportunity
Why property records and billing information need to be verified
Using expense control as a major part of the value add plan
Working with HUD, veterans programs, and other housing organizations
A Louisville property that moved from about 60 percent to 95 percent occupancy
Why Chris thinks about the exit before buying
How structure and calendar control help him manage six companies and family life
Guest Information
Chris Wise is a real estate investor and lawyer based in Louisville, Kentucky.
His real estate focus is Class C value add multifamily, mainly in the 20 to 60 unit range. His team looks in Louisville and across parts of the Midwest, including Kansas City.
Chris said he is interested in connecting with:
Institutions
Retail investors
Registered investment advisors
Family offices

Building a tiny home community can look simple until you start digging into the land.
Dedria Kolb learned that firsthand while developing Poplar Creek Tiny Home Village in Rutherford County, North Carolina. The 10 acre property once operated as a mobile home park, which gave her existing infrastructure to work with during phase one.
That first phase opened with 10 lots in July 2024. By December, every lot had been leased through word of mouth and grassroots marketing.
Phase two was another story. Dedria had to work with raw land, grading, new infrastructure, and an engineered septic system. The expansion added 20 lots, bringing the planned community to 30 lots in total.
Dedria also explains why Poplar Creek uses long term lot leases. Residents bring their own tiny homes, as long as the homes have the appropriate certifications and can be insured. Average lot rent is about $700 per month.
Key topics and takeaways:
What counts as a tiny home and why there is no single definition
Why Poplar Creek is zoned as an RV park
How phase one reached full occupancy within months
Why phase two was much harder and more expensive
How long term lot leases work at Poplar Creek
Why Dedria chose common spaces including pavilions, fire pits, gardens, and a dog park
The zoning and building code challenges facing tiny home communities
Why residents, not the developer, ultimately create the community
Guest information:
Dedria Kolb is a small scale developer focused on tiny home communities and other smaller footprint housing concepts.
She developed Poplar Creek Tiny Home Village in Rutherford County, North Carolina.
Dedria also has a coaching program for women interested in development. She teaches topics including finding land, engineering deals, and tiny home development.

A vacant fourplex in Kitchener had four old garage bays in the basement. Ara Palladian saw something different: space for two more units.
Ara brings a construction and structural background to multifamily investing. In this conversation, he walks through the Kitchener project and explains how his team is converting those garage spaces into two two bedroom walkout units.
The work includes replacing large drop steel beams with flush beams, removing and insulating the concrete slab, and creating more usable headroom. Ara also shares the numbers behind the project. The property was purchased for about $1.25 million. He expects to be all in for about $1.7 million, with what he describes as a conservative appraisal of about $2 million.
Ara and Dave also discuss why Ara prefers purpose built multifamily, why he wants more properties with 15 units or more, and why paying the right professionals can sometimes save far more than choosing the cheapest labor.
Key topics:
Turning a fourplex into a six unit property
Using structural and construction knowledge to uncover value
Replacing drop beams to improve basement space
Ara’s plan to refinance through CMHC
Recycling capital into future investments
Why Ara prefers purpose built multifamily
Moving toward properties with 15 units or more
How shorter renovation timelines can reduce holding costs
Guest information:
Ara Palladian is a real estate investor and licensed realtor with a background in construction and structural engineering. He focuses on value add multifamily projects in Cambridge, Kitchener, Waterloo, and Guelph.
Instagram: @PalladianConstruction
Email: arapalladian@gmail.com
Call to action:
Investors interested in buying multifamily properties or discussing potential capital partnerships can contact Ara by email or send him a message through @PalladianConstruction on Instagram.

Getting your boots dirty is about more than walking a property. For Tony Lopes, it also means digging into the financials, knowing your partners, and making sure a deal works before you buy.
Tony is the founder of Dirty Boots Capital and has just over 400 units across his own multifamily holdings and deals where he participates as a GP or LP. His main areas of focus are New Hampshire and Florida.
Tony shares why he is watching rising interest rates differently from some investors. Higher rates can put pressure on property values, which may create buying opportunities. But his rule remains simple: the deal needs to cash flow from day one.
He also talks about starting local. Instead of waiting for the perfect property, investors can use this time to learn their market, build spreadsheets, attend local real estate investment groups, and form relationships with the people they may need before a deal appears.
Key Topics and Takeaways
What the Dirty Boots Capital name means
Why Tony physically walks roofs, basements, and properties
Why financial statements deserve the same level of diligence as the physical property
Tony's focus on New Hampshire and Florida
Looking for opportunities with distressed operators and local banks
Why Tony wants deals to cash flow from day one
Why investors do not always need to start with large properties
How local investment groups can help build a real estate team
Why Tony likes attorneys, CPAs, and contractors who also understand real estate firsthand
Guest Information
Tony Lopes is the founder of Dirty Boots Capital. He has nearly 30 years of experience in real estate and focuses heavily on multifamily investing and property management.
Website: dirtybootscapital.com
Email: tonylopes@dirtybootscapital.com
Tony also discussed his book, Freedom at Risk: How to Protect Your Personal and Financial Freedoms.
Call to Action
Tony offered listeners a free copy of his book.
Email tonylopes@dirtybootscapital.com.
 

Getting institutional capital is not just about knowing the right people. Jon Siegel says investors need something they can “hang their hat on.”
Jon and his partners at Railfield came into multifamily with institutional lending backgrounds. They started Railfield in 2013 and went straight into institutional capital rather than raising money from friends and family.
Their early access to $50 million from a pension fund looked like a major head start. But after buying their first properties, they discovered that getting the next institutional investor was far from automatic.
Jon explains why a real track record matters. Institutional investors may dig into where returns actually came from. One investor even examined Railfield’s past deals to separate value created through NOI growth from value created through cap rate compression.
He also shares why operators need a clear niche, business plan, or other reason to stand apart from the many other multifamily firms looking for capital.
Key topics and takeaways:
Why Railfield calls itself a small institutional firm
How a lending background influenced its conservative approach to leverage
Why getting $50 million early did not make future capital easy to raise
What institutional investors may examine in an operator’s track record
Why operators need a clear hook when approaching capital partners
Why the first institutional relationship can be the hardest
Why Jon believes operators need to stay in the market during slower periods
Guest information:
Jon Siegel is a partner at Railfield, a multifamily investment firm based in Bethesda, Maryland. Railfield focuses on workforce housing and has about 4,500 units across roughly 15 or 16 properties.
Jon said Railfield primarily works with institutional and family office capital.
Email: jsiegel@railfieldrealty.com
Website: railfieldrealty.com
LinkedIn: Search for Jon Siegel, spelled S I E G E L
Call to action:
Jon said Railfield is always looking for two things: deals and money. He is interested in meeting people who want to invest capital and people who may have leads on potential deals that fit Railfield.
Listeners can contact Jon by email, find him on LinkedIn, or send a message through the Railfield website.

A senior housing deal can look good financially while the local market is already sending warning signs.
Jerry Vinci works on both sides of that challenge. Through Nordon, he helps investors look beyond traditional underwriting to understand whether an operator can sustain or grow occupancy in its local market. Through CCR Growth, he helps senior living operators examine the systems that take a family from first contact through move in.
Jerry shares one example where a community's Google rating had fallen from about 4.9 to 3.7 over eight months. Its search visibility had also dropped. Those public signals pointed to problems with residents and families and a possible future occupancy decline. The investment group ultimately repriced the deal by roughly $2 million to $3 million.
Jerry also explains why getting leads is only part of the occupancy picture. His team looks at how quickly a real salesperson contacts a family, how leads move toward a move in, what different lead sources cost, and how resident length of stay can affect future occupancy needs.
Key topics and takeaways:
Why senior housing performance is highly local
How reputation and search visibility can provide early warning signals
A deal that was repriced by roughly $2 million to $3 million
Why speed to human contact matters after a lead comes in
How resident length of stay can help operators think ahead about occupancy
Why the service inside a senior housing building is a major part of the product
Guest information:
Jerry Vinci runs two firms in the senior housing industry. Nordon focuses on the investment side and helps evaluate market facing signals connected to operator performance. CCR Growth helps operators improve marketing, sales, and operational systems tied to occupancy.
Jerry also hosts From Leads to Leases, a podcast focused on senior living marketing, sales, services, and industry challenges.
Connect with Jerry:
Nordon Advisory
https://nordonadvisory.com
Call to action:
If you are part of an investment group or an operator in senior housing, or you are looking to enter the space and want more information than traditional underwriting or appraisal provides, Jerry invites you to learn more through Nordon Advisory.