What if the key to successful multifamily investing isn't just about the numbers—but about the people living in your properties? Joe Rinderknecht, the cowboy-hat-wearing founder of Cowboy Capital, shares his unconventional path from shoveling manure on a Utah ranch to operating over 1,000 multifamily units.
[01:40 - 06:15] From Ranch to Real Estate: Building on Grit
- Grew up ranching and breaking horses in northern Utah—learned that your word is your bond
- Father left the ranch for construction and cabinet making, taught Joe everything from concrete to framing
[06:40 - 10:10] Trial by Fire: The 80-Unit Section 42 Property
- Asked for a property management job with zero experience—got thrown into an 80-unit low-income housing property
- Property had no manager for two weeks, with sky-high delinquency, vacancy, crime, drugs, and cockroaches
[10:11 - 15:20] The Path to Becoming a Sponsor
- Never planned to stay in property management long-term—goal was always to learn and move on
- Admits being "unemployable" with a resume showing 6-8 month stints at various companies
[16:35 - 23:35] Impact Investing: Making Every Dollar Matter
- Lost his brother (age 20) and grandmother in a 2013 car accident—nearly died himself
- Provides four types of support: capital, food, construction/home modifications, and mindset coaching
[23:36 - 26:40] Why Treating Tenants Well Is Good Business
- Questions how slumlords succeed when they don't care about people's lives
- When tenants feel like a unit is their home, turnover drops, repairs decrease, delinquency falls
[26:41 - 32:00] Rapid Growth and What's Next
- Bought 4 deals (419 units) since September 2024, currently under contract on 117 more units
- Believes there's a great buying opportunity in the next 10-24 months
[26:45 - 32:55] Final Four & How to Connect
Connect with Joe:
Website: https://cowboycapital.us
Email: Joe@CowboyCapital.us
LinkedIn: Joe Rinderknecht
Instagram: @joe_rinder
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Key Quote:
"If you can get a tenant to feel like their unit is their home, your turno
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