$10 Billion in Apartments: Lessons Learned & Market Insights - David Moore, CEO @ Knightvest Capital

David is the founder and Managing Partner at Knightvest. Under his leadership, Knightvest has acquired over 55,000 units at a total capitalization of approximately $10.0 billion. Since its 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
Links:
Knightvest Capital - knightvestcapital.com/
David on LinkedIn - / david-moore-03005a39
Topics:
00:00:00 - Intro
00:00:58 - David’s first property
00:09:49 - The decision to focus on multifamily
00:17:39 - Scaling Knightvest
00:21:01 - Multifamily is HARD work
00:24:18 - Becoming the best renovator
00:31:45 - The Class B MF market taking off
00:40:06 - Walkthrough of a typical deal*
00:44:21 - The American renter in 2024
00:52:24 - Thoughts on construction and labor cost hikes
00:56:43 - State of the market update 2022-2024
01:18:30 - Technology innovations
01:20:50 - What do you think about often in multifamily?
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Keywords: Chris powers, David Moore, $10 Billion in Apartments, CEO @ Knightvest Capital, The fort podcast, cris powers podcast,the fort podcast, Fort Capital, knightvest capital ceo, Fort podcast,make money in realstate,Knightvest Capital

[@FORTpod]

Visit our website: bit.ly/43SOvys

[@trevorprobandt-dirtroad]

What a great interview! Love hearing the real stories.

[@mattwilliams6191]

With all the press around multi family crash, I think David's explanation made it as simple to understand as i've heard it. another great episode

[@mrlocascio]

Great episode with a lot of valuable content for smaller operators like us who only have 8 figures AUM (so far) as we work on growing our business!! Thanks! 🚀🚀

[@lukewickham555]

Excellent interview. Thank you

[@lukang72]

This is an amazing interview. Tons of gems.

[@superspoon0]

Another gem of a podcast! Keep'em coming!

[@nickrobles9225]

Congrats on all your success David

[@FORTpod]

Thank you so much! I really appreciate your kind words and support. It means a lot to me.

[@moe85moe85]

Shocked your subscriber count is low with consistent great content and guests

[@FORTpod]

Thank you, glad you’re enjoying the podcast!

[@crileymane]

great episode thank you guys!

[@FORTpod]

Well, we aim to please! We're glad you thought it was great. Thanks for watching!

[@mattp1913]

great episode - chock full of good insights... thanks.... but the big question I would like to know is: why buy 5.5% cap rate privately when you can buy 6%+ in public REIT markets for $.05 per trade? much easier than all the hassle David is going through... what am I missing?

[@Danny-fs1hk]

Very good episode! It was great hearing about his journey.

[@FORTpod]

thank you!

[@airjordanatthis]

300 units for 2.8m? Where did the money come from to renovate these?

[@WebsterRealEstate]

Another banger episode, Chris!

[@FORTpod]

Thank you so much for your kind words! I'm glad you enjoyed the episode.

[@lifeofnnam]

His math was advanced 😂...

[@javcrodgz]

I get held up on "We had no money" then proceed to buy real estate in cash.

[@parkplaceproperties4818]

Facts lol