The Fort Podcast: David Moore – Co-Founder & CEO @ Knightvest Capital – Investing in 55,000 Apartment Units: Stories, Lessons Learned, and Insights On Current Apartment Market
David Moore is the founder and Managing Partner at Knightvest. Under David’s leadership, Knightvest has acquired over 55,000 units at a total capitalization of approximately $10.0 billion. Since inception, Knightvest has sold over 15,000 units with an average IRR and multiple of over 30% and 2.2x, respectively.
On this episode, Chris and David discuss:
- Making key hires to grow the company
- The explosion of the Class B multifamily market
- A walkthrough of a typical deal
- The American renter in 2024
- Construction & labor cost hikes
- State of the Market Update 2022-2024
Listen on:
Spotify
Apple Podcasts
YouTube
Topics
(00:00:00) – Intro
(00:04:45) – David’s first property
(00:13:08) – The decision to focus on multifamily
(00:20:46) – Scaling Knightvest
(00:24:01) – Multifamily is HARD work
(00:27:25) – Becoming the best renovator
(00:29:47) – Making key hires to grow the company
(00:34:40) – The Class B MF market taking off
(00:42:32) – Walkthrough of a typical deal
(00:46:20) – The American renter in 2024
(00:54:09) – Thoughts on construction & labor cost hikes
(00:58:17) – State of the Market Update 2022-2024
(01:19:22) – Technology innovations
(01:21:32) – What do you think about often in multifamily?
Episode Summary
In a compelling episode of Chris Powers’ podcast, real estate investor David Moore shares his journey and insights in the property market. Moore’s career began with a bold purchase of 44 units at an auction, sparking his interest in real estate. He discusses the challenges of managing these properties with limited experience, emphasizing the importance of improving living conditions and tenant relations. Moore also explores the evolution of his business strategy, focusing on larger and more complex deals, and the intricacies of navigating the financial landscape in real estate. He delves into the strategic shift towards higher-quality properties, discussing property management challenges and the impact of market dynamics on investment strategies. The conversation concludes with Moore’s perspective on the future of the real estate market, highlighting the importance of adaptability and strategic planning in a competitive and evolving industry.
The FORT is produced by Johnny Podcasts