Building a Long Term Durable Multifamily Portfolio with Rachael Jones | 66

In this episode, I sit down with Rachael Jones, a multifamily investor and founder of Clover Capital Group, to unpack how an engineering mindset translates into smarter real estate investing. Rachael shares her journey from designing gas turbines to owning and operating apartment buildings across the Carolinas—and why durability, not speed, is the real edge in today’s market.We dive deep into long-term underwriting, heavy CapEx strategies, property management accountability, and why understanding systems—from plumbing to people—is what separates resilient operators from risky ones. If you’re serious about multifamily, asset management, or building investments that actually last, this episode will sharpen how you think about risk, returns, and responsibility.Episode Highlights: [1:00] – Rachael's transition from mechanical engineering into real estate investing[3:55] – Buying $20K houses all-cash and learning real estate the hard way[6:05] – Why multifamily scale changes everything[9:10] – How local market knowledge creates a true competitive advantage[11:47] – Front-loading CapEx to eliminate long-term maintenance risk[14:12] – Applying gas turbine risk management to apartment buildings[18:02] – Why Rachael avoids institutional competition[21:40] – Conservative underwriting and working with property managers[23:21] – Capturing hidden value through utility sub-metering[26:03] – Building CapEx reserve schedules like depreciation models[29:55] – Matching investors to the right business plan (IRR vs durability)[34:19] – Why Rachael is bullish on buying during today’s rent softness[37:40] – Rebranding properties to reset perception and demand[41:21] – Non-negotiables when hiring property management[45:29] – Managing construction in-house and controlling execution⸻Key TakeawaysDurability beats speed—long-term cash flow matters more than peak IRR.Heavy upfront CapEx reduces risk, stress, and long-term expenses.Local market knowledge can’t be replaced by spreadsheets.Property management must be audited, not blindly trusted.Real estate is a service business—for both tenants and investors.Links & Resources Mentioned: Clover Capital Group – https://www.clovercapitalgroup.netEmail Rachael – [email protected] on X (Twitter) – @CloverCapMentioned Topics: Multifamily syndication, CapEx planning, conservative underwriting, utility sub-metering, long-term holds, property management accountabilityIf you enjoyed this deep dive into multifamily operations, underwriting, and long-term investing, make sure to follow, rate, review, and share the show—it helps us reach more investors who want to build smarter and stronger portfolios.