From 30 to 305 Units: The $18M Deal That Almost Failed

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In this episode of Path of Progress, Alex Kononov sits down with Dan Costantino, an operator who scaled from flipping houses on the side to acquiring a 305-unit, $18M multifamily portfolio. Dan didn’t start in real estate full-time. While working a W2 in logistics and sales, he began flipping houses and slowly building a rental portfolio on the side. Over time, he transitioned into larger deals, eventually taking a massive leap into multifamily. But this deal didn’t go as planned. After closing, Dan uncovered serious issues—occupancy wasn’t what it seemed, tenant quality was poor, and income projections quickly fell apart. Within the first year, the property faced a $600K+ deficit, forcing him to pause investor distributions and navigate one of the toughest periods of his career. This episode is a raw, behind-the-scenes look at what really happens when scaling goes wrong—and what it takes to recover. From raising millions in capital to rebuilding operations and restoring investor trust, Dan shares lessons that most investors only learn the hard way. Whether you're just starting out or scaling into larger deals, this episode is packed with real-world insights, hard truths, and valuable strategies. 📌 Key Takeaways: ✅ How Dan scaled from flips to 300+ units ✅ The real story behind the $18M deal ✅ What went wrong after closing the property ✅ The risks of inaccurate occupancy and projections ✅ Losing $600K+ and handling financial pressure ✅ Why he paused investor payments ✅ How he stabilized and turned the deal around ✅ Raising $5M in capital for large deals ✅ The importance of due diligence at scale ✅ Why scaling too fast can backfire 📚 Book Recommendation: – Rich Dad Poor Dad by Robert Kiyosaki 🌐 Connect with Dan Costantino: 📸 Instagram → https://www.instagram.com/dancostantino_/ 🌍 Website → https://www.412ah.com/ 🌍 Website → https://www.achievecapitalpartners.com/🌍 Facebook → https://www.facebook.com/dancostantino💼 LinkedIn → https://www.linkedin.com/in/dan-costantino/ 🎧 Listen & Watch the Full Episode: 📺 YouTube → https://youtu.be/Ild36b0g0Nw 🎧 Spotify 🎧 Apple Podcasts → https://podcasts.apple.com/us/podcast/from-30-to-305-units-the-%2418m-deal-that-almost-failed/id1782550599?i=1000763457218 🙌 Stay Connected #PathOfProgress #DanCostantino #AlexKononov #RealEstateInvesting #Multifamily #ApartmentInvesting #CapitalRaising #RealEstateMistakes #Entrepreneurship #PassiveIncome #RealEstateLessons #ScalingBusiness #PropertyInvesting #FinancialFreedom #RealEstateJourney #InvestorMindset #DealBreakdown #MultifamilyInvesting #Cashflow #WealthBuilding

Why He Left a CMO Role for Real Estate | Ep 68 Path of Progress

In this episode of Path of Progress, Alex Kononov sits down with William Liu, multifamily investor, operator, and co-founder of GiveRise Capital. Together with his wife Anita, William oversees 160+ units and $37 million+ in assets under management — all while prioritizing family, values-aligned partnerships, and long-term wealth. William’s journey is anything but traditional: from 4 years in the US Army as a Psychological Operations specialist to a 20-year corporate marketing career that took him from ad tech analyst all the way to Chief Marketing Officer in higher education. A forced W2 exit right before his daughter was born became the catalyst to go all-in on real estate. He shares how he applied his marketing and psychology expertise to capital raising, the gritty lessons from his first 76-unit Class C deal in Irving, Texas, and how they quickly scaled to an 82-unit Class A property in Richardson just nine months later. This is a masterclass in infrastructure building, navigating a soft market, creating supplemental loans, and turning military precision + corporate systems into a thriving family real estate business. 📌 Key Takeaways: ✅ From Army PSYOP to CMO — how 20 years of marketing became the ultimate capital-raising superpower ✅ The “forced exit” moment that made him choose family and assets over corporate stability ✅ First deal: 76-unit Class C in Irving, TX — buying from an upside-down seller and managing concessions in a tough market ✅ Second deal nine months later: 82-unit 2017 Class A in Richardson — value-add office-to-unit conversion + supplemental loan strategy ✅ Why values alignment and spending full days with potential partners beats any LOI ✅ Applying investor funnels, CRM, and content to syndication (exactly like performance marketing) ✅ Property management vs. asset management — the lesson that changed everything ✅ Building community through Subtle Asian Real Estate and targeting Asian-American investors in their 30s–40s ✅ Cash conservation mindset in a soft Texas market and why “cash is king” right now ✅ Long-term vision: more multifamily, debt funds, private equity, and creating generational wealth 📚 Book Recommendation: – The Five Dysfunctions of a Team by Patrick Lencioni – Rich Dad Poor Dad by Robert Kiyosaki 🌐 Connect with William Liu: 📸 Instagram → https://www.instagram.com/will.girldadinvesting/ 💼 LinkedIn → https://www.linkedin.com/in/willliuh/ 📧 Email → william@giverisecapital.com 🌍 Website → https://www.giverisecapital.com/ 🎧 Listen & Watch the Full Episode: 📺 YouTube → https://youtu.be/SSp4L8W7YlE 🎧 Spotify 🎧 Apple Podcasts → https://podcasts.apple.com/us/podcast/path-of-progress/id1782550599 🙌 Stay Connected 📲 Follow us: Facebook: https://www.facebook.com/pathofpro Instagram: https://www.instagram.com/pathofpro LinkedIn: https://www.linkedin.com/in/pathofpro/ X (Twitter): https://x.com/pathofpro TikTok: https://www.tiktok.com/@pathofpro #PathOfProgress #WilliamLiu #GiveRiseCapital #MultifamilyInvesting #CapitalRaising #RealEstatePodcast #FromCorporateToMultifamily #FamilyFirstInvesting #TexasMultifamily #AssetManagement #SupplementalLoan #ClassCtoClassA #PassiveIncome #LegacyBuilding #AlexKononov

17 de abr de 202656 min

From 30 to 305 Units: The $18M Deal That Almost Failed | Ep 69 Path of Progress

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