#941 Scaling Smarter: Spencer Gray on Building Multifamily Success in the Midwest

Spencer Gray is the founder and President of Gray Capital, an investment firm based in Indianapolis that specializes in value-add multifamily properties in select Mid-western markets. Spencer leads all strategic initiatives at the firm, including investment strategy, capital raising, and property operations. Since founding Gray Capital with his wife Alex, Spencer has been involved in over $2.5 billion in real estate transactions and currently controls over $750M in multifamily real estate.

Connect with Spencer: https://www.graycapitalllc.com/ 

Highlights:

5:00 – Spencer's entrepreneurial family history

7:00 – Early challenges

12:00 – Why Gray Capital focuses on Indianapolis and the Midwest

18:00 – In-house property management company for more control

24:00 – Technology, centralization, and better-trained leasing agents

32:00 – Buying a fractured condo deal mid-pandemic

Quote: "You can find the best deal in the best market and raise all the money you need, but if you don't execute on operations, you can still lose money. Operations is where the rubber meets the road."

 

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