How David Hamer Built a $15M Multifamily Portfolio by Finally Taking Action

Episode Summary

In this episode of Groundbreakers, David Hamer, founder of Expedition Capital, shares his journey from spending 15 years on the sidelines to building a $15 million multifamily portfolio. David discusses how reading Rich Dad, Poor Dad sparked his real estate ambitions, the mental hurdles of raising capital, and why he focuses on value-add multifamily deals in landlord-friendly states. His story is a testament to the power of taking action, adapting to market challenges, and building a scalable investment strategy.

To listen to this episode, follow this link to Groundbreakers on Spotify!

Key Points Discussed

• FTaking the First Step: After 15 years of hesitation, David finally pulled the trigger on his first investment in 2017. He explains why waiting for the “perfect time” is a mistake.
• From Small Deals to Syndications: David started with duplexes and fourplexes before realizing he needed to raise capital to scale into larger multifamily properties.
• The Mental Hurdle of Raising Capital: David shares his challenges in transitioning from investing his own money to handling funds from passive investors.
• Why He Invests in Nevada, New Mexico, and Alabama: David explains how population growth, landlord-friendly laws, and lower taxes shape his investment strategy.
• The Hidden Risks of Insurance and Property Management: His first syndication deal nearly fell apart due to insurance costs and a property management failure—he shares how he navigated those challenges.
• Tax Advantages of Real Estate: David breaks down depreciation, 1031 exchanges, and passive income strategies that allow investors to build wealth tax-efficiently.

Guest Information

• Name: David Hamer
• Role: Founder at Expedition Capital
• LinkedIn: David Hamer
• Website: Expedition Capital

Conclusion

David Hamer’s story proves that it’s never too late to start investing. His insights into raising capital, underwriting deals, and overcoming market challenges make this episode a must-listen for aspiring and experienced real estate investors alike.

Thinking about investing in multifamily real estate? Listen now and learn from David’s journey!