Breaking Ground with Justin Goodin

Most passive investors spend all their time evaluating the upside of a deal. John Casmon thinks that's the wrong place to start.In this episode, I sit down with John Casmon, a seasoned multifamily investor and syndicator, to talk about what a good multifamily deal actually looks like, how to protect your downside before you ever write a check, and why asset management is the part of this business most people underestimate.What we cover:What separates a good multifamily deal from one that just looks good on paperHow passive investors can evaluate deals before committing capitalDownside protection strategies and why they matter more than projected returnsWhy asset management is the most critical and most overlooked part of the businessSubscribe for weekly content on multifamily development, passive real estate investing, and what it actually takes to build in this space.

In this episode of Breaking Ground With Justin Goodin, Chad Schieler breaks down the truth about real estate syndications, passive real estate investing, and why multifamily continues to be one of the most attractive asset classes today.If you’ve ever wondered whether real estate is truly passive… this conversation will change how you think. We dive into the biggest misconceptions around passive investing, why most people don’t actually want to be landlords, and how multifamily investing allows busy professionals to build wealth without creating a second job. You’ll also hear how Chad approaches risk, why some investors are shifting away from heavy value-add deals, and what makes core plus multifamily investments so appealing in today’s market. Chad shares how he used his own capital for his first deals before ever raising money, what that taught him about investing, and why trust and track record matter more than any spreadsheet. We also cover: • The real difference between active vs passive real estate investing • Why real estate syndications are growing in popularity • How to properly vet a multifamily sponsor • What passive investors should look for before investing • Why overanalyzing deals keeps most people stuck • The mindset shift that separates experienced investors from beginners • How tax advantages like depreciation can benefit investors If you’re a busy professional looking to get into passive real estate investing or scale your portfolio through multifamily syndication, this episode will give you a clear framework to think bigger and invest smarter.

Brian Briscoe retired from the Marines as a Lieutenant Colonel after 20 years of active duty, then built a portfolio of 1,000+ apartment units through his company Streamline Capital Group. In this episode, we break down his investing philosophy, a deal that lost everything, and exactly what he looks for before pulling the trigger on a new acquisition.In this episode:• How 20 years of Marine Corps leadership directly translates to operating apartment communities• Why Brian's best deals came from a combination of market timing and operational discipline, and how to separate the two• The rate cap mistake that wiped out an entire investment, and the one question he now asks on every deal with a variable rate loan• Why he refuses to go above 70% leverage in today's market and what that means for investor returns• His full breakdown of a 27-unit Salt Lake City value-add acquisition, including $35,000 per unit in renovations and a near-complete tenant retention rate• How to evaluate a sponsor's track record without confusing luck with skill• What passive investors should expect after wiring their fundsWhether you're a passive investor trying to vet sponsors more effectively, or an active operator looking to sharpen your acquisition criteria, this conversation is loaded with practical insight from someone who has been through both the upside and the downside of this business.

In this episode of Breaking Ground with Justin Goodin, I sit down with Lee Yoder, founder of Threefold Real Estate Investing, to talk about how he transitioned from physical therapist to full-time multifamily syndicator — and what passive investors should really be looking for before wiring money into a deal. Today, he focuses on acquiring and operating larger apartment communities, building long-term partnerships, and helping investors create passive income through multifamily real estate. In this conversation, we break down: • How Lee made the leap from W2 to syndicating apartment buildings • What he looks for when evaluating multifamily deals • The biggest mistakes new passive investors make • How to properly vet a sponsor and their track record • Why relationships matter more than projections • What it really means to be a fiduciary for your investors We also talk about leadership, faith, and building a business with long-term integrity — not short-term hype. If you’re a busy professional looking to invest in multifamily syndications the smart way, this episode will help you better understand: How to evaluate deals How to evaluate operators And how to protect your capital Subscribe for more conversations with multifamily developers, syndicators, and investors focused on real estate investing done the right way.

From tech career to $40M+ in real estate... In this episode of Breaking Ground With Justin Goodin, I interviewed Ross McArthur, who owns and manages $40M+ in multifamily real estate and runs a vertically integrated property management company. In this episode we talked about: • Why he left a high-paying career in startups to go all-in on real estate • Why being an out-of-state investor isn’t a weakness (if you have people, processes, and technology) • The real reason they brought property management in-house • A 100+ unit deal that had $1.2M in unexpected repairs • Strategies Ross uses to protect investor capital This is a conversation with a REAL, multifamily operator. Not somebody who just posts on social media about it. In this episode, Ross is transparent about the good, the bad, and the work it takes to be a multifamily operator. If you’re a passive investor wanting to hear about the 'behind the scenes' details or an active multifamily investor, you won't want to miss this one. Subscribe for more insider conversations on multifamily development, apartment investing, and passive real estate strategies.

What does it really take to bring a multifamily project from the drawing board to reality in today’s market? Rising material costs, tariffs, labor shortages, and complex timelines all make development harder than ever. That’s why having the right construction management firm is critical.In this episode of Breaking Ground with Justin Goodin, I sit down with Greg Looney, founder of Inherent Commercial, recognized by Indianapolis Business Journal as one of the Fast 25 fastest-growing companies. With construction experience in healthcare, senior living, commercial, and multifamily projects, Greg has seen it all — and he shares candid insights that most developers and investors never hear from behind the construction fence.Here’s what you’ll learn in this conversation:- The biggest mistakes developers make when hiring GCs and how to avoid them- The impact of tariffs and volatile pricing on multifamily projects in 2025- The #​1 thing all passive investors should review before investing in a multifamily development- Why trust between developers and contractors often breaks down — and how to build partnerships that last- Behind-the-scenes of a real multifamily build: surprises, challenges, and lessons learned- Greg’s bold predictions for construction costs and project timelines in the next 12–18 monthsIf you’re a multifamily developer, passive investor, or city leader, this episode gives you an inside look at how projects really get delivered — and what you should watch out for when evaluating partners.🔗 Learn more about Inherent Commercial: https://inherentco.com/🔗 Follow Inherent Commercial on LinkedIn: https://www.linkedin.com/company/inherentcommercial/Subscribe to Breaking Ground with Justin Goodin for more insider conversations on multifamily development, construction, and passive real estate investing.🔗 Learn more about Goodin Development: https://goodindevelopment.com/🔗 Follow Justin on LinkedIn: https://www.linkedin.com/in/justingoodin/🔗 Follow Justin on Facebook: https://www.facebook.com/justin.goodin.16

Ethan Fernhaber used a $20K HELOC to buy his first rental. Now Ethan has owned, managed, and built over 4,000 multifamily units. Ethan Fernhaber’s journey is a masterclass in scaling real estate the right way. As the founder of multiple companies in development, management, and modular construction, Ethan has built a mission-driven portfolio that’s transforming communities across Indiana.From meat cutter to banker, to purchasing a double-wide in rural Indiana with a $20K home equity line of credit, to starting a management entity, in-house modular factory, and development company, Ethan is using his sister companies to accomplish a mission that he truly believes in: Restore Hope.In this episode, we cover:- How Ethan scaled from his first rental to 4,000+ units- The challenges and lessons of running development, management, and construction under one mission- The biggest operational truths most investors overlook- What passive investors should really know before backing a multifamily deal- How modular construction will transform the future of housing- How Ethan is giving back to the community and restoring hope with his companiesWhether you’re a developer, operator, or passive investor, Ethan’s story offers tactical lessons and big-picture perspective on building businesses with purpose and scale.🔗 Learn more about Ethan Fernhaber and his companies: - Restore Hope https://www.restorehopeindiana.com/- Volumod  @volumod  https://www.volumod.com/- RM  @RenewingManagement  https://www.whereumatter.com/- Helix Development: https://www.helix33.com/Subscribe for more candid conversations with multifamily developers, operators, and investors shaping the future of real estate.🔗 Learn more about Goodin Development: https://goodindevelopment.com/🔗 Follow Justin on LinkedIn: https://www.linkedin.com/in/justingoodin/🔗 Follow Justin on Facebook: https://www.facebook.com/justin.goodin.16

What makes a good multifamily deal… and how do you know if the sponsor behind it can really deliver?Paul Shannon has gone from a W-2 career in surgical sales to building a portfolio of over 1,000+ multifamily units as both an active operator and a passive investor. Along the way, he’s seen the best and worst of multifamily syndications — and he shares what every limited partner (LP) needs to know before wiring their first check.In this episode, we cover:- How Paul transitioned from corporate life into full-time multifamily investing- Why relationships matter more than just “the numbers” in syndications- The biggest red flags passive investors overlook when evaluating deals- A real case study from one of Paul’s investments — what worked, what went wrong, and what he learned- The most important questions LPs should ask sponsors before committing capital- How Paul views the multifamily market in 2025 — and what that means for investors looking for opportunities nowIf you’re a passive real estate investor looking to grow your wealth through apartments, this episode gives you an inside look at how experienced LPs think, the mistakes to avoid, and how to evaluate opportunities with confidence.🔗 Learn more about Paul Shannon: https://www.investwisecollective.com/🔗 Follow Paul on LinkedIn: https://www.linkedin.com/in/paul-shannon-68255530/Subscribe for more conversations with multifamily investors, developers, and operators who share their unfiltered stories and practical advice.🔗 Learn more about Goodin Development: https://goodindevelopment.com/🔗 Follow Justin on LinkedIn: https://www.linkedin.com/in/justingoodin/🔗 Follow Justin on Facebook: https://www.facebook.com/justin.goodin.16

In this episode, I sit down with Jarod Brown, founder of Brown Capital Group. Prior to his involvement in the real estate development business, Jarod practiced law in the area of real estate finance for 8 years, and was a founding partner of the law firm Densborn Blachly LLP.BCG has developed over $500 Million of assets nationwide ranging from student housing, affordable, and workforce to Class A urban projects. In this episode, we dive deep into:- The truth about multifamily development in today’s market- How to structure deals the right way (financing, equity, incentives)- What separates the best sponsors from the rest- Investor red flags and lessons learned from real projects- The challenges (and opportunities) in building new communities across Indiana and beyondIf you’ve ever wondered how major multifamily projects really come together — from land control and entitlement to financing and lease-up — this conversation is packed with insights you won’t find anywhere else.🔗 Learn more about Jarod Brown and Brown Capital Group: https://browncapitalgrp.com/🔗 Follow BCG on LinkedIn: https://www.linkedin.com/company/brown-capital-group/posts/?feedView=allSubscribe for more conversations with top developers, investors, and entrepreneurs who are shaping the future of multifamily real estate.🔗 Learn more about Goodin Development and our multifamily projects: https://goodindevelopment.com/Tags:multifamily development, multifamily investing, real estate development, commercial real estate, multifamily real estate, passive investing, real estate investing, apartment development, multifamily construction, real estate syndication, development deals, multifamily projects, investor red flags, multifamily sponsor, multifamily due diligence, real estate underwriting, multifamily investing 2025, commercial construction, multifamily pipeline, apartment investing