Season 1, Episode 4: In this episode of No Cap by CRE Daily, hosts Jack Stone and Alex Gornik dive into the journey of Brad Sumrok, famously known as the "Apartment King" in the multifamily real estate world. Starting with his first investment in a 32-unit apartment building in 2002, Brad replaced his 9 to 5 job income by 2005 and retired at the age of 38. Since then, he has invested in over 4,200 apartment units, and his mentoring students have collectively purchased over $2 billion worth of apartment buildings.

Brad shares his transition from a career in chemical engineering to becoming a prominent investor and coach in multifamily real estate. He discusses Tony Robbins's influence on his mindset and reveals how being fired from his corporate job spurred him to become a public speaker in real estate. Brad also shares his thoughts on handling the haters and provides insights into the risks associated with investing in syndication.

TOPICS

1:15 — Brad’s transition from chemical engineering to real estate 5:20 — Getting fired from corporate America 6:25 — Breaking into the world of real estate through seminars 8:34 — Brad’s first property 13:07 — Are motivational speakers and business coaches cheesy, or authentic? 15:17 — Becoming the Tony Robbins of the multifamily syndication industry 16:54 — Mentoring at Lifestyles Unlimited 20:18 — Surviving 2008-2011 24:07 — What's a “good project for Brad” in 2024? 26:11 — How many investors & LPs does Brad have on a typical deal? 34:20 — What brings investors to the table 36:52 — Effects of the presidential race on the economy and tax code 37:38 — WSJ article on Brad & former students 41:43 — Closing remarks from Brad

We want to thank our sponsor Viking Capital.

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About No Cap Podcast

Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.

About CRE Daily

CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.