Handwritten Letters and $5 Coffee Cards That Find Multifamily Deals with Luke Kramer

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"There's a lot of pride in ownership, and there's not much pride when you don't own something."

Luke Kramer and his dad run Freed by Real Estate, a family owned company in Omaha, Nebraska. They started with direct mail and house flips. Today they have around 800 units, with a focus on multifamily buildings from 20 to 150 units.

Luke explains why they only buy where they have first party management, meaning the manager owns part of the deal. He shares why direct mail stopped working for multifamily, how pocket listings and broker relationships now bring most of their deals, and why he sends handwritten letters with a $5 coffee card.

He also talks about raising capital, why every investment has a job, and how today's interest rates change the way they buy and sell.

Key topics:

First party management and why partners need ownership
Why Omaha and the Midwest work for value add multifamily
From direct mail to pocket listings and referrals
Handwritten letters, AI data scraping and a $5 coffee card
Every investment has a job: understanding your investors
Buying and selling with higher interest rates

About Luke Kramer:

Luke Kramer is a real estate entrepreneur with Freed by Real Estate, a family owned and operated, vertically integrated company based in Omaha. The company buys value add Class C and B multifamily in Nebraska, Iowa and South Dakota and manages its own assets.