Joe Fairless has built one of the largest multifamily investment platforms in the country, overseeing more than 14,000 units and $3.9B in assets across the Sunbelt. In this episode, Saul sits down with Joe to break down what it actually takes to operate at that scale, how today’s multifamily market is really performing behind the headlines, and why disciplined operations matter more than ever in this cycle.

The conversation dives into capital raising, supply pressure, concessions, property management, and the realities of navigating large-scale apartment investing during a shifting market environment.

Listener takeaways include:

• How Joe scaled to 14,000+ units and a $3.9B portfolio
• What’s really happening in Sunbelt multifamily markets right now
• Why concessions and supply pressure are lasting longer than expected
• How institutional-quality operations create long-term stability
• The importance of diversifying capital sources and investor relationships
• What experienced operators are watching over the next 12–18 months

Whether you're an active multifamily operator, passive investor, syndicator, or CRE entrepreneur, this episode offers a practical look into managing large apartment portfolios through changing market conditions.

Connect with Joe Fairless:

LinkedIn: https://www.linkedin.com/in/joefairless Podcast: https://www.bestevercre.com/podcast Website: https://ashcroftcapital.com

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#CommercialRealEstate #MultifamilyInvesting #ApartmentInvesting #RealEstateInvesting #CapitalRaising #CRE #ValueBuilderPodcast

In this episode of The Value Builder Podcast, Saul sits down with Cody Payne of Flex Parks USA, one of the most experienced operators in small bay flex industrial, alongside partner Shea Lewis. With over 20 years in the space and more than 10,000 transactions closed, Cody breaks down what’s actually happening in today’s flex industrial market—from rent trends and tenant demand to why newer metal product is outperforming traditional infill.

This conversation goes beyond surface-level insights and gets into what’s really driving pricing, leasing velocity, and investor behavior in 2026.

In this episode, you’ll learn:

• Why newer metal flex parks are commanding higher rents than infill assets
• The real difference between contractor-driven demand vs growth-driven markets
• What buyers are actually looking for in stabilized vs value-add deals
• How tenant mix, clear height, and location impact long-term performance
• Why basic “commodity” flex space is most at risk of oversupply
• The key amenities and features that separate top-performing parks

From development strategy to disposition insights, this episode gives a clear look at where flex industrial is heading—and how to position yourself on the right side of it.

Connect with Cody: Amazon: https://www.amazon.com/Flex-Space-Domination-Capitalizing-Industrial/dp/B0D385755L LinkedIn: https://www.linkedin.com/in/codypayne/ Online: https://flexbusinessparks.com/

Tim Chen brings a ground-level view of what’s actually happening in multifamily today—from rapid expansion during peak markets to navigating one of the toughest cycles in recent memory. After scaling from brokerage into ownership and development, Tim shares how shifting strategies, controlling costs, and thinking long-term are shaping his current approach.

In this episode, you’ll learn:

• Why many multifamily deals are underwater and what caused it
• How rising rates and stalled rent growth are reshaping underwriting
• Why development can outperform value-add in certain markets
• How California’s property tax structure changes long-term strategy
• Where real deal flow is coming from in today’s market
• Why vertical integration is becoming a competitive advantage

Connect with Tim: Email: tc@connectedcompanies.com Phone: (949) 391-6668 LinkeIn: https://www.linkedin.com/in/timdchen/ Website: https://www.connectedcompanies.com/

This episode is for operators, investors, and builders who want a clear, honest look at today’s market—and how to adapt without relying on yesterday’s playbook.