Beyond the First Deal: Scaling a Real Estate Portfolio with Ian Cruz

In this episode, Brad chats with Ian Cruz, a former CPA and boxing coach who has successfully transitioned into multifamily real estate. Ian shares his journey from his roots in big four public accounting to becoming a value-add multifamily investor focused on the Cincinnati, Ohio market. He discusses the importance of building a strong local team when investing out of state, the value of in-person networking, and how a disciplined approach—honed from his years as a boxer—helps him navigate the inevitable challenges of real estate.

 

🔑 Key Topics Covered:

• How the discipline from boxing translated into success in real estate.

• The importance of building a local "boots on the ground" team for out-of-state investing.

• Why finding a local general partner (GP) with a property management and renovation company was a massive win.

• The benefit of a previous failed deal in building trust with investors.

• How to create "certainty of close" to win deals against higher bidders.

• The strategic advantage of buying properties that have fallen out of contract.

• Lessons learned from a "worst" deal, including the challenges of dealing with older assets and uncooperative sellers.

• How a successful first deal with a partner led to the acquisition of a much larger, 70-unit portfolio.

• The competitive advantage of operating in the "sub-institutional" space.

• How Ian is building a community of over 200 investors interested in the Cincinnati market.

💬 Memorable Quotes:

• "If you're raising capital when you have the deal, it's too late ".

• "You almost have to shake hands with the city you're investing in too ".

 

🔗 Connect with Ian Cruz:

📸 Instagram: https://www.instagram.com/cincycashflow/

💼 LinkedIn: https://www.linkedin.com/in/cbcruz/

 

🎙️ Connect with Host Brad Weaver:

💼 LinkedIn: https://www.linkedin.com/in/bradweaver