In this episode of The Mastering Commercial Real Estate Podcast, host Cory Mortensen interviews Alex Burch, multifamily investor and co-founder of Veritas Equity Partners, who shares how he scaled from a single 8-unit property into a $50M+ real estate syndication business in the Pacific Northwest.

You’ll learn how Alex transitioned from a full-time career in tech sales at AWS into real estate investing, building a strong portfolio through value-add multifamily deals, off-market acquisitions, and strategic partnerships. He breaks down how his data-driven approach, high EQ, and commitment to integrity have fueled his success.

Alex also dives deep into:

• How to build a scalable real estate investment business

• Tips for raising capital from institutional and private investors

• The importance of underwriting multifamily deals with precision

• How to use tech systems and automation to streamline operations

• Building long-term relationships with brokers and direct-to-seller outreach

Discover the behind-the-scenes of a recent 33-unit acquisition with an $800M capital partner and why month-by-month forecasting and detailed underwriting helped close the deal.

Whether you're just getting started in multifamily syndication or looking to scale your existing real estate portfolio, this episode delivers powerful insights from someone who’s done it — the smart and sustainable way.

Keywords: multifamily investing, real estate syndication, apartment syndication, value-add real estate, passive real estate investing, underwriting real estate deals, raising capital for real estate, Veritas Equity Partners, Alex Burch, Cory Mortensen, commercial real estate podcast

In this episode of the Mastering Commercial Real Estate Podcast, Cory Mortensen sits down with Mac Shelton, co-founder of Sweet Bay Capital, to explore his journey from private equity into multifamily investing. Mac shares how he scaled from student housing house hacks to syndicated deals across the Southeast, raising millions in investor capital with a data-driven, risk-conscious approach. You'll learn what separates winning operators in volatile markets, how to underwrite conservatively, raise investor trust, navigate cap rate exit assumptions, and build a real team of reliable vendors.

Whether you're raising your first fund or fine-tuning your next acquisition, this episode is packed with tactical insights for commercial real estate success.

1:28 – Mac’s transition from private equity to real estate

5:00 – The first 2x deal and how it lit the path to syndication

8:39 – Underwriting risk and overcoming fear of first value-add project

11:32 – How Mac answered tough investor questions in his early raises

14:03 – Why being ultra-conservative with insurance, taxes, and vendors matters

17:48 – The biggest near-miss on a deal due to last-minute insurance change

21:12 – How to talk with contractors (even when it’s a pain)

24:20 – Tools Mac uses to track projects and manage reno budgets

27:47 – Mac’s true strength: critical thinking and execution

30:44 – The 25% exit spread rule + price-per-door math explained

35:13 – How to think about exit cap assumptions and buyer psychology

39:02 – Why CoStar cap rate projections might be misleading

42:46 – Deal sourcing vs. investor sourcing (brokers still rule)

45:57 – How referrals became their #1 investor growth channel

47:52 – Advice for new & experienced investors: be patient, do the right deal

50:07 – Favorite data sources and newsletters for market pulse

52:35 – The software stack: Agora, Yardi, Mailchimp & more

54:08 – Fun questions: janitor job, cover band dreams & real talk

In this episode, Cory sits down with Harrison Hoy, Director of Acquisitions at Cantrell Investment Company, to unpack his journey from tech startups to leading Texas-based multifamily deals. They dive into Harrison’s experience across brokerage, banking, and capital raising — and share hard-won lessons about underwriting in today’s market, relationship building, and scaling acquisitions. Whether you're raising capital, sourcing deals, or just trying to make sense of 2025’s real estate landscape, this conversation is packed with insights!