First, Worst, Best, & Next

From Aerospace to Apogee: How Jonathan Nichols Engineered His Multifamily Success

In this episode of First, Worst, Best & Next, host Brad Weaver sits down with Jonathan Nichols—CEO of Apogee Capital, aerospace engineer turned full-time real estate investor.
 
Jonathan shares his transition from side-hustling real estate with his wife into full-scale multifamily syndication. From a fourplex house hack near AT&T Stadium to a 75-unit off-market home run with zero CapEx and 100% occupancy, Jonathan walks us through the highs, the lows, and what’s coming next.
 
If you're curious about scaling smart, investing in tertiary markets, or finding deals without over-renovating, this one's for you.
 
Key Topics:Why house hacking a fourplex (in a not-so-comfy neighborhood) was the best uncomfortable decision
 
Turning a negative cash-flow rental into a profitable short-term rental business
 
His “worst deal” and what it taught him about vetting tenants (spoiler: it ends with changing locks at 1AM)
 
The importance of operational improvements over major renovations
 
How trust and broker relationships lead to off-market opportunities
 
Why Apogee is pivoting back to DFW in 2025—and what makes now a smart time to buy
 
Memorable Quotes:“Relationships open doors—and trust closes deals.”“You can make money on a property without swinging a single hammer.”“The deal of a lifetime comes around every few months—if you’re prepared.”
 
Connect with Jonathan:🔗 Website & Masterclass
Connect with Brad:🔗 Risk Strategies on LinkedIn
🔗 Brad on LinkedIn 
📅 Book an Intro Call 
📱 Brad’s Cell: (845) 779-2044

Market Focus & Vertical Integration: Axel Ragnarsson's Multifamily Playbook

In this episode, host Brad Weaver talks with investor, entrepreneur, and podcast host Axel Ragnarsson, founder of Aligned Real Estate Partners and host of the Multifamily Wealth Podcast.
 
Axel shares his journey from flipping cars in college to building a 450-unit multifamily portfolio focused in New Hampshire. He opens up about the hard lessons learned from a cash-burning out-of-state deal, the creative strategy behind his best acquisition, and how direct-to-seller marketing became the cornerstone of his success. Axel also offers practical insights into market focus, scaling wisely, and building long-term wealth with or without investor capital.
 
Key Topics:Axel’s first deal and why the $5K loss was worth every pennyWhat went wrong in his worst deal (and how vandalism made it worse)Lessons from a $1M equity lift in his best direct-to-seller portfolioScaling to 450 units through focused growth—not flashBuilding a vertically integrated operation with in-house property managementThe importance of deep market knowledge and avoiding shiny-object syndromeHow Axel uses direct mail, calls, and emails to build long-term deal flowWhy smaller deals can be more profitable than syndicationsLaunching a membership community to support investors and give back
 
Memorable Quotes:"If it’s working, pour gas on it.""You don’t realize how much you know about your market… until you go outside of it.""You don’t do direct mail to get deals—you do it to build relationships."
 
Connect with Axel:Instagram: @multifamilywealthPodcast: Multifamily Wealth PodcastMembership Community: Aligned Community Info (More info via Axel’s Instagram bio)
 
Connect with Brad:Risk Strategies on LinkedIn: https://www.linkedin.com/company/risk-strategies-company/Brad on LinkedIn: https://www.linkedin.com/in/brad-weaver-bb29035/Book an intro appt with Brad: https://zcal.co/fwbn/introcallBrad’s Direct Cell: (845) 779-2044

From Land Flips to a Multifamily Mindset: How Jazmin Salinas Scaled Her Real Estate Portfolio

In this episode, host Brad Weaver talks with entrepreneur, investor relations manager, and founder of She Is Her, Jazmin Salinas. Jazmin shares her inspiring journey from immigrating to the U.S. at 19 to becoming a successful real estate investor with over 100 land transactions and 1,300 multifamily units. She dives into lessons from her early deals, her pivot into multifamily, and her exciting plans for expanded land investing and mixed-use developments. Jazmin also shares how she’s empowering women through financial education and community building.
Key Topics:Starting over in the U.S. and rebuilding a careerLessons from her first land deal (and why it mattered)Scaling through 100+ land transactionsSeller financing strategies for passive incomeTransitioning into multifamily investmentsDeveloping retail centers tied to master-planned communitiesLaunching "She Is Her" to empower women in finance and investing
Memorable Quotes:"You are one connection away from a completely different life.""Leaving a legacy isn’t just about money—it's about educating the next generation to sustain and grow it."
Connect with Jazmin:LinkedIn: https://www.linkedin.com/in/jazmin-salinas-1448021a3/Instagram: https://www.instagram.com/officialjazminsalinasWebsite: https://massive.capital/
Connect with Brad:Risk Strategies on LinkedIn: https://www.linkedin.com/company/risk-strategies-company/posts/?feedView=allBrad on LinkedIn: https://www.linkedin.com/in/brad-weaver-bb29035/Book an intro appt with Brad: https://zcal.co/fwbn/introcallBrad’s Direct Cell: (845) 779-2044

Mac Shelton on Underwriting, Markets, and Management: Lessons from Multifamily Deals

This episode features Mac Shelton from Sweet Bay Capital discussing his experiences in multifamily real estate investing. Mac shares insights into his firm's investment strategies, detailing both successes and challenges. He dives into specific deals, including his "best" and most challenging, offering valuable lessons on underwriting, market selection, and property management. The conversation explores the nuances of student housing and the potential of investing in tertiary markets.  
 
Key Takeaways:• Importance of Underwriting: Thorough underwriting is crucial to mitigate risks, especially with older properties.• Market Selection: Tertiary markets can offer strong rent growth and less competition compared to primary markets.• Student Housing Nuances: Student rentals can be profitable but require careful management and consideration of location and market dynamics.• Value-Add Strategies: Implementing value-add strategies, such as renovations and rent optimization, can significantly increase property value and returns.• Managing Challenges: Real estate investing involves challenges; effective management and conservative budgeting are essential for navigating them.
 
About Mac Shelton:Mac Shelton is a founding partner of Sweet Bay Capital, a multifamily investment firm focused on value-add properties in Virginia and the Carolinas. His real estate career began with underwriting debt and equity deals and raising capital. Mac's firm targets 20% deal-level Irrs and focuses on improving property efficiency and profitability through renovations. Based in Raleigh, North Carolina, Mac is also a 1st Lieutenant in the North Carolina National Guard.
 
How to contact Mac:• Sweet Bay Capital Website: https://www.sweetbay-capital.com/• Mac Shelton LinkedIn: https://www.linkedin.com/in/mac-shelton/
 
How to contact Brad:• Risk Strategies on LinkedIn: https://www.linkedin.com/company/risk-strategies-company/posts/?feedView=all• Brad on LinkedIn: https://www.linkedin.com/in/brad-weaver-bb29035/• Book an intro appt with Brad: https://zcal.co/fwbn/introcall• Brad’s Direct Cell: (845) 779-2044

From Flipping Duplexes to a $100M+ Portfolio: Will Matheson’s Multifamily Journey

In this episode, Will Matheson of Matheson Capital shares how he went from brokering deals to building a $100M+ multifamily portfolio across the Southeast. He walks us through his first debt deal, the challenges of navigating COVID-era operations, and the keys to scaling profitably while protecting investor capital.
 
Will also discusses lessons from early mistakes, how his team achieved an average 47% IRR across 16 acquisitions, and what’s next as Matheson Capital pursues new opportunities in build-to-rent communities and beyond.
 
Key Takeaways:• From Brokers to Buyers: Will and his twin brother Evan started as brokers, but quickly shifted gears and raised capital themselves for a $1M hard money loan—kickstarting their investing journey.• First Investment Win: A quick flip on a Los Angeles duplex netted them $185K in profit, building confidence and momentum.• Lessons from the Worst Deal: Greenwood Village Townhomes faced COVID-related rent collection issues and crime. Despite the hurdles, the team still returned investor capital with a small gain.• Best Deal Breakdown: Timberstone Townhomes delivered an 80% return on equity thanks to strong operations, solid debt, and zero prepayment penalties.• Smart Scaling Strategies: Matheson Capital now focuses on larger, more standardized multifamily assets with third-party management, prioritizing cash flow and operational efficiency.• What’s Next: Will shares details about their latest BTR acquisition in Tuscaloosa and what they’re targeting next in the Southeast.
 
How to contact Will:• Matheson Capital: mathcap.com• Will Matheson on LinkedIn: https://www.linkedin.com/in/will-matheson/
 
How to contact Brad:• Risk Strategies on LinkedIn: https://www.linkedin.com/company/risk-strategies-company/posts/?feedView=all• Brad on LinkedIn: https://www.linkedin.com/in/brad-weaver-bb29035/• Book an intro appt with Brad: https://zcal.co/fwbn/introcall• Brad’s Direct Cell: (845) 779-2044

From Flipping to Multifamily: How Jason Yarusi Scaled His Real Estate Business

In this episode, Jason Yarusi shares his journey from starting in real estate by flipping houses to scaling his business to managing multifamily properties across multiple states. He discusses the importance of strategic planning, setting clear expectations with investors, and lessons learned from both successful and challenging deals.
 
Key Takeaways:• Strategic Planning for Investors: Jason emphasizes the importance of preparing your investor network ahead of time, even before you have a deal in hand. By educating investors and setting expectations upfront, you can raise capital faster when an opportunity arises.• Refinancing and Infinite Returns: Jason explains how refinancing works to pull capital off the table after improving the property, which can provide tax-free returns to investors and help reinvest capital.• Streamlining Renovations: By standardizing renovations (like using the same materials and fixtures across properties), Jason has been able to minimize costs and turnaround times. This efficiency reduces vacancy loss, which is crucial for maximizing cash flow on multifamily properties.• The Importance of Communication: Reflecting on past failures, Jason talks about how lack of clear communication with a business partner led to the breakdown of a friendship. The takeaway? Clear, upfront communication and role definition are essential in partnerships.• Upcoming Deal in Chattanooga: Jason reveals that Yarusi Holdings is closing on two properties in Chattanooga, with plans for significant renovations and improvements. The properties present a mix of light and heavy lifting, but Jason is confident in their ability to add value and improve operations.
 
How to contact Jason:• Yarusi Holdings: yarusiholdings.com• Jason Yarusi on Instagram: @JasonYarusi• Linkedin: https://www.linkedin.com/in/jasonyarusi/• 7 Figure Multifamily Mastermind: https://7fm.7figuremultifamily.com/join7fm• Podcasts: Live 100 Podcast (https://podcasts.apple.com/us/podcast/live-100-podcast-with-jason-yarusi/id1699229023)
 
How to contact Brad:• Risk Strategies on LinkedIn - https://www.linkedin.com/company/risk-strategies-company/posts/?feedView=all• Brad on LinkedIn - https://www.linkedin.com/in/brad-weaver-bb29035/• Book an intro appt with Brad - https://zcal.co/fwbn/introcall• Brad’s Direct Cell: (845) 779-2044