"Smoke Break" is a weekly micro-podcast designed specifically for convenience store district managers who oversee multiple locations. In just 5-10 minutes – perfect for a quick break – host Mike Hernandez delivers strategic insights and practical solutions for multi-unit management challenges. Each episode tackles essential topics like team delegation, standardization across stores, effective communication systems, and performance optimization strategies. Whether you're new to multi-unit man ...
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Multi Unit Management Tips Podcasts
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.
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#312: Vetting Partners, Importance of Transparency, and Diving Into The Pros and Cons of Preferred Equity with Steeve Breton
45:34
45:34
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45:34In 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 …
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#311: Sharing 8 Predictions + Trends for 2026 That Multifamily Investors Need To Be Aware Of
22:37
22:37
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22:37In 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 mappin…
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#310: Growing From a Duplex to 900+ Units and Bringing Management In-House (And The Challenges of Doing So) with Lee Yoder
48:01
48:01
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48:01Axel 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 unexpe…
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#309: Optimizing Lease Terms, Actionable Budgeting, The True Cost of Turnover, and Becoming A Better Asset Manager with Stacey Hampton
52:05
52:05
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52:05Axel 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 an…
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Episode 30: Building Stronger Teams Through Compliance
3:38
3:38
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3:38Smoke Break - Episode 30: Building Stronger Teams Through Compliance Episode Duration: 7 minutes Join host Mike Hernandez as he reveals how to transform compliance programs from rule-following exercises into powerful team-building tools that create cultures of excellence. Learn strategic approaches for ongoing training involvement, peer leadership …
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Episode 29: Making Data-Driven Decisions with Your Compliance Records
3:18
3:18
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3:18Smoke Break - Episode 29: Making Data-Driven Decisions with Your Compliance Records Episode Duration: 7 minutes Join host Mike Hernandez as he reveals how to transform collected compliance data from static records into actionable insights that improve operations and boost profitability. Learn strategic approaches for tracking successes alongside fa…
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Episode 28: Leveraging Technology for Better Compliance
3:22
3:22
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3:22Smoke Break - Episode 28: Leveraging Technology for Better Compliance Episode Duration: 8 minutes Join host Mike Hernandez as he demonstrates how technology transforms compliance checklists from basic paper forms into powerful management tools that prevent problems before they escalate. Learn practical approaches for implementing digital systems, a…
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#308: The Tactical Guide For Sponsors Looking To Raise Their First $1M, $5M, and $10M in Investor Capital
15:51
15:51
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15:51In 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 inbo…
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Episode 27: Using Checklists in Store Audits
3:41
3:41
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3:41Smoke Break - Episode 27: Using Checklists in Store Audits Episode Duration: 4 minutes Join host Mike Hernandez as he transforms store audits from fault-finding missions into powerful operational insight tools. Learn strategic approaches for leveraging checklists to understand real-world system performance, identify both quick fixes and systemic is…
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#307: An Insanely Tactical Deep Dive Into How Multifamily Investors Can Leverage AI To Grow Their Businesses with Jake Heller
42:48
42:48
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42:48Axel 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 rese…
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Episode 26: Making Your Checklists Work Harder
3:59
3:59
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3:59Smoke Break - Episode 26: Making Your Checklists Work Harder Episode Duration: 8 minutes Join host Mike Hernandez as he reveals how to transform basic compliance checklists into powerful continuous improvement tools that drive operational excellence across your district. Learn to extract valuable data insights, leverage checklists for training, opt…
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#306: Sharing Tactical Tips for Multifamily Investors Who Want To Make More Creative Offers When Pursuing Deals
20:07
20:07
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20:07In this tactical episode, Axel shares specific, actionable strategies multifamily buyers can use to structure more creative and compelling offers, especially in today’s buyer-leaning market. He breaks down how to think beyond “price and timelines” and instead use deal structure, seller collaboration, lender creativity, and strategic concessions to …
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#305: Bringing Back Our Very First Guest... Bootstrapping a PM Company and Leveraging Professional REI Experience with Chris Grenzig
52:49
52:49
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52:49In Episode, Axel welcomes back the very first guest ever featured on the Multifamily Wealth Podcast — Chris Grenzig, founder of JAG Capital and JAG Property Management. Chris shares his story of bootstrapping a property management company from scratch, why he intentionally started small, and how he built out systems, and a service model that actual…
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#304: Sharing 5 Extremely Actionable (and Valuable) Leasing Tips for Multifamily Operators Looking To Maximize NOI
15:29
15:29
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15:29Axel shares five practical leasing strategies that every multifamily operator can implement to reduce vacancy, maximize rent roll, and ultimately increase NOI. These are simple, high-impact tactics that work whether you self-manage, run an in-house property management team, or work with a third-party manager. Axel also breaks down how to use stagge…
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#303: Discussing The Fundamentals Of Excellent Asset Management and De-Commoditizing Yourself as a GP with John Makarewicz
52:48
52:48
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52:48In this episode, Axel Ragnarsson is joined by John Makarewicz, President and Head of Operations at Faris Capital Partners, to discuss how sponsors can stand out in a crowded multifamily space and the systems that drive excellent asset management. John shares his journey from scaling one of the largest residential brokerages in the Southeast to buil…
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#302: The Importance of "Leading With Your CapEx" and Why You Should Over-Renovate Units Early In A Hold Period
13:57
13:57
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13:57In this solo episode, Axel breaks down one of the most overlooked aspects of multifamily ownership—the timing of your CapEx spending. Many investors wait until systems fail before addressing roofs, heating, or parking lots, but Axel explains why this “defer and react” approach can actually hurt you long-term. He shares why leading with your CapEx, …
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#301: Salvaging a Bad First Deal with Investor Capital, Building Incredible Investor Relationships, and Numerous Great Deal Stories with Levi Allen and Joe Rinderknecht
53:33
53:33
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53:33In this episode, Axel sits down with Levi Allen and Joe Rinderknecht, co-founders of Cowboy Capital, to talk about their journey from a tough first deal to becoming trusted operators with a growing investor base. They share how they salvaged a challenging early project that nearly sank their business, what they learned about managing investor relat…
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#300: Reflecting On 300 Episodes! How Our Business Has Grown, Changes in How I Think About Investing, Business, and More!
34:02
34:02
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34:02In this special milestone episode, Axel Ragnarsson celebrates 300 episodes of The Multifamily Wealth Podcast by reflecting on how his business—and his mindset—has evolved since the show began in 2020. From launching with 42 units and no investors to managing over 500 units and $18M in equity today, Axel walks through the journey of growth, lessons …
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#299: Building a Small Portfolio of Multis and Divesting To Focus on Capital Raising + Combining Bitcoin/Real Estate Into One Offering with Harrison Riley
56:09
56:09
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56:09Harrison Riley’s journey into real estate is anything but traditional. After building a small multifamily portfolio, he realized he didn’t enjoy the property management grind and decided to shift his focus toward raising capital and building partnerships. In this episode, Harrison shares the lessons he learned from painful contractor mistakes, why …
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#298: Vetting (and Partnering With) Sponsors, Raising Capital For 20+ Deals, and Transitioning From Single Family To Multifamily with Igor Shaltanov
45:59
45:59
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45:59From professional water polo in Russia to raising capital for over 20 multifamily deals in the U.S., Igor Shaltanov’s story is all about resilience, discipline, and smart investing. In this episode, Igor shares how he went from renting out his mom’s spare apartment in Moscow to building a U.S. real estate business, starting with single-family homes…
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#297: The 5 Real Estate "Hills" I'm Willing To Die On.... Some Spicy Takes!
16:03
16:03
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16:03We all hear “conventional wisdom” in real estate—but sometimes, following it blindly can cost you big. In this solo episode, I share the five controversial real estate takes (or “hills I’m willing to die on”) that I feel strongest about. Some of these might challenge how you started your investing career. But if you’re a new or growing investor, th…
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#296: Building a 3,000 Unit Portfolio, Selecting Markets, and The Power of Narrow Focus with Jason Yarusi
42:37
42:37
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42:37In this episode, Axel sits down with Jason Yarusi—real estate investor, entrepreneur, and operator of a 3,000+ unit multifamily portfolio. Jason shares his journey from running bars and restaurants in New York City to building a thriving multifamily business in the Southeast. He talks about the lessons learned from his early days in construction, h…
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#295: The 5 Attributes Of A Holy Grail Multifamily Deal... When We See These, We Aggressively Pursue!
15:41
15:41
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15:41What makes a multifamily deal truly irresistible? For us, it comes down to five specific attributes that signal, this is one we want to buy. In this solo episode, I break down the five “holy grail” characteristics we look for in deals—and why these features dramatically increase the odds of success. If you’re a value-add investor, you’ll likely be …
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#294: Discussing Market Cycles, Market Selection, and Rebuilding a Business After a Decade in Prison with Mike Morawski
44:03
44:03
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44:03What does it take to rebuild your life—and your business—after losing it all? In this episode, I sit down with Mike Morawski, a 30-year real estate veteran, entrepreneur, author, and speaker, whose story is one of both caution and inspiration. Mike built a $60M portfolio, lost everything, served a decade in federal prison, and then came back to reb…
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#293: A Haunting Story of a Home-Run Deal That I F**ked Up... and What We Learned From It
14:47
14:47
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14:47Every investor has a deal that got away. For me, one in particular still stings—not because of market timing or bad luck, but because the failure was entirely within my control. In this solo episode, I share the story of a property I pursued back in 2018–2019 that had all the makings of a “holy grail” deal... and how I whiffed on it. More important…
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#292: Everyone Talks About Why Location Is Critical... But What Does That actually Mean When Underwriting Deals?
18:38
18:38
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18:38We’ve all heard it: location, location, location. But what does that really mean when you’re underwriting multifamily deals—and how should it actually impact your numbers? In this solo episode, I break down the real, tangible differences between buying in a good location versus a bad one—within the same asset class. Drawing from years of operating …
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#291: Spend 30 Minutes a Week on These 3 Activities If You Want To Find More Multifamily Deals
7:53
7:53
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7:53Struggling to source more multifamily opportunities? The truth is, you don’t need 10 hours a week—you need just 30 focused minutes. In this solo episode, I break down the three high-ROI activities any investor can do weekly to uncover more deals and stay top-of-mind with the people who are most likely to send you opportunities. These simple actions…
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#290: Talking Current Events: The Growing Competition in Small Multifamily... Get it While The Getting is Good!
21:11
21:11
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21:11There’s a major shift happening in the small multifamily space—and if you’re not paying attention, you might miss your window. In this solo episode, I break down the growing competition in the small-to-mid-sized multifamily market and why it’s becoming harder to find an edge. We cover what’s changed, who’s entering the space, and how savvy investor…
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#289: The 5-Step Value-Add Process We Follow After Buying a Multifamily Property
12:53
12:53
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12:53Ever feel overwhelmed after closing on a multifamily deal? Not sure where to start—or in what order—to execute your business plan effectively? In this episode, I break down the five-step value-add process we follow after acquiring a multifamily property to our portfolio. Whether you're self-managing, have your property management firm or working wi…
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#288: In 5 Minutes I Explain The One Thing That Separates Investors Who Rapidly Scale Vs. Those That Don't
7:00
7:00
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7:00Wondering why some real estate investors scale rapidly while others stay stuck for years? The answer is much simpler than you think. In this quick solo episode, I break down the one fundamental difference that sets fast-scaling investors apart—and how you can apply it to accelerate your own portfolio growth. Whether you're just starting or looking …
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#287: Struggling To Make Confident Investment Decisions During This Time of World/Economic Uncertainty? Here Are Some Mindset Shifts and Tactical Tips To Help
17:15
17:15
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17:15In this episode, we sit down to talk through a challenge many investors are facing: how to confidently make investment decisions amid global tension, economic uncertainty, and nonstop headlines. Drawing from recent conversations with LPs and operators, Axel unpacks the mindset shifts and practical tactics investors can use to stay focused and make …
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Episode 25: Creating Powerful Compliance Checklists
4:23
4:23
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4:23Smoke Break - Episode 25: Creating Powerful Compliance Checklists Episode Duration: 9 minutes Join host Mike Hernandez as he reveals how to create compliance checklists that actually work in the real world of convenience store operations. Learn to build customized tools that reflect each store's unique characteristics, engage your team in the devel…
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Episode 24: Staying Ahead of Safety Regulations
3:28
3:28
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3:28Smoke Break - Episode 24: Staying Ahead of Safety Regulations Episode Duration: 8 minutes Join host Mike Hernandez for the final episode of the health and safety series as he reveals how to stay ahead of ever-changing safety regulations. Learn proactive strategies for monitoring regulatory changes, building industry networks for early warnings, and…
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#286: How We Overcome The 3 Most Common Objections From Sellers + Launching the NH Multifamily Fund III
16:08
16:08
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16:08In this episode, we sit down with Axel Ragnarsson, founder of Aligned Real Estate Partners, to break down the three most common objections sellers give—and exactly how to respond to them effectively. Whether you're negotiating direct-to-seller deals or just want to sharpen your acquisition skills, this solo episode is packed with actionable takeawa…
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Episode 23: Building Emergency Response Partnerships
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3:14
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3:14Smoke Break - Episode 23: Building Emergency Response Partnerships Episode Duration: 8 minutes Join host Mike Hernandez as he reveals how to build strategic partnerships with local emergency responders that can save lives and protect your stores during critical situations. Learn proactive relationship-building strategies with fire departments, poli…
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#285: The 3 Financial Reasons To Hire a PM Company... OUTSIDE Of The Time Savings
11:12
11:12
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11:12In this episode, we sit down with Axel Ragnarsson, for a practical solo breakdown of three overlooked financial advantages of hiring a property management company. While most investors think of property management as a time-saving decision, Axel explains how the right PM can also improve your bottom line through better vendor pricing, optimized lea…
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Episode 22: Creating Safety Incentive Programs That Work
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3:22
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3:22Smoke Break - Episode 22: Creating Safety Incentive Programs That Work Episode Duration: 7 minutes Join host Mike Hernandez as he reveals how to build safety incentive programs that actually change behavior and strengthen safety culture across your district. Learn why traditional accident-free day rewards can backfire and discover proven strategies…
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#284: The Precise 12-Step Process Investors Can Follow To Buy Their First (Or Next) Multifamily Deal
12:14
12:14
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12:14In this episode, we sit down for another tactical solo episode that lays out the exact 12-step process investors can follow to buy their first—or next—multifamily deal. From setting crystal-clear criteria to building broker relationships and mastering the follow-up, walking through each step in detail, offering practical tips that are easy to imple…
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Episode 21: Employee Safety Training That Sticks
3:04
3:04
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3:04Smoke Break - Episode 21: Employee Safety Training That Sticks Episode Duration: 8 minutes Join host Mike Hernandez as he reveals how to transform ineffective safety training into engaging, memorable programs that actually prevent accidents. Learn proven techniques for creating lasting safety habits across your district through storytelling, hands-…
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#283: How PMs Can Asset Manage, Leveraging Technology, and Building a 1,000+ Unit PM Company with Casey Howe
43:11
43:11
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43:11In this episode, we sit down with Casey Howe, founder of Howe Property Management, a New England-based firm managing over 1,000+ multifamily units. Casey shares his journey from SaaS and tech sales to building one of the region’s most tech-forward property management companies—offering a refreshing, systems-driven perspective on how PMs can evolve …
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Episode 20: Record Keeping - Your Safety Net
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3:25
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3:25Smoke Break - Episode 20: Record Keeping - Your Safety Net Episode Duration: 7 minutes Join host Mike Hernandez as he reveals why effective documentation is crucial for health and safety compliance across your district. Learn how proper record keeping serves as both protection during inspections and a valuable management tool that identifies operat…
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#282: Building a Robust Organization That Owns/Operates 1,000+ Multifamily Units and Flips 100s of SFHs with Brian Ferguson
46:40
46:40
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46:40In this episode, we sit down with Brian Ferguson, a real estate entrepreneur whose company owns and operates over 1,000 multifamily units, hundreds of single-family flips per year, and manages a significant retail portfolio. Brian shares how he built a vertically integrated business over the past two decades—and how operators can scale their team, …
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Episode 19: Making the Most of Health Department Visits
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3:45
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3:45Smoke Break - Episode 19: Making the Most of Health Department Visits Episode Duration: 8 minutes Join host Mike Hernandez for the final episode in our health and safety series as he shares strategies for turning health department inspections into positive experiences. Learn how to prepare your store network for regulatory visits and use them as op…
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#281: A 1% Increase in Vacancy Rate Reduces Cash Flow By 4-6%... Why Managing Revenue Is So Critical in Multifamily Operations
10:20
10:20
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10:20In this episode, I break down one of the most overlooked levers in multifamily operations: revenue management. Through real-world math and clear examples, I explain and share how small changes in occupancy can create huge swings in cash flow—and why reducing turnover and maximizing renewals should be top priorities for any operator or asset manager…
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Episode 18: Emergency Preparedness - When Minutes Matter
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3:46
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3:46Smoke Break - Episode 18: Emergency Preparedness - When Minutes Matter Episode Duration: 8 minutes Join host Mike Hernandez as he shares essential strategies for preparing your store network for emergencies before they happen. Learn how to develop and implement comprehensive emergency plans that protect your team, customers, and business when every…
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#280: Effectively Presenting Offers To Brokers and The Current State of The FL (and National) Multifamily Market with Top FL Broker Mark Savarese
44:07
44:07
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44:07I sat down with a friend of mine Mark Savarase, a top multifamily broker in the state of Florida. He’s been a full-time broker for 7-years under Franklin Street. Mark shares his unique journey from doing baseball and then getting into the Real Estate business. This is one great episode with Mark that is packed with value for brokers, investors, or …
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Smoke Break - Episode 17: Building Your Safety Culture Episode Duration: 8 minutes Join host Mike Hernandez as he shares strategies for creating a genuine safety culture that goes beyond rules and procedures. Learn how to develop an environment where safety becomes part of your stores' DNA rather than just another compliance requirement. Episode Ov…
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#279: How Much Turnover is Costing You, The One KPI Operators Need To Track, Maximizing Renewals, & More with Stacey Hampton
53:16
53:16
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53:16In this episode, we sit down with Stacey Hampton, a multifamily operations and asset management expert with over 25 years of experience. Stacey shares her journey from hospitality to building a consultancy that helps investors increase NOI, reduce delinquency, and tighten operations. This is one of the most tactical and value-packed episodes to dat…
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Episode 16: Mastering Health and Safety Inspections
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3:46Smoke Break - Episode 16: Mastering Health and Safety Inspections Episode Duration: 8 minutes Join host Mike Hernandez as he shares strategies for preparing your store network for health and safety inspections. Learn how to develop systems that ensure your locations are inspection-ready every day, not just when inspectors are expected. Episode Over…
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#278: How Do We Think About Debt? Our 4 Core Principles When Evaluating Lenders and Term Sheets
21:54
21:54
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21:54Ever find yourself navigating the complex world of debt and lending, wondering how to secure the best terms for your real estate deals? In this episode, I’m going to do a bit of a deep dive into the details of our debt and lending strategies for property acquisitions and refinances, focusing on lender selection and term prioritization. As well as e…
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