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Joe Fairless

Co-Founder and Managing Partner, Ashcroft Capital · 1 appearance on the record.

computed by AI from the episodes · how this works → · full disclaimer →

investorfounderhostauthor@joefairless ↗LinkedIn ↗ashcroftcapital.com ↗

He co-founded Ashcroft Capital, a vertically integrated private equity firm managing over $2.7 billion in multifamily apartment assets. He is also the author of Best Ever Apartment Syndication Book and created The Best Ever CRE Show, one of the longest-running daily real estate podcasts.

11statements → 2claims → 0claims resolved → 3.82/5average certainty → 1.09/5average debate potential → 2said about them ↓

2 not checkable as stated how the 2 claims stand · each chip opens the sources

2 assertions · 3 insights · 6 disclosures · every statement was checked. The predictions and assertions are the 2 claims: statements the public record can support or contradict. 0 are resolved, and 2 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Joe argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Joe Fairless on measured tape to publish a rate. This says nothing about how they speak.

Everything Joe Fairless said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Insight
Fairless: Multifamily apartment repairs average $250 to $300 per unit annually
“I mean, on average, you're going to look at about 250 to 300 dollars per unit per year.”
Joe Fairless Apr 15, 2016 ▶ 12:24 This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe Fairless Episode 239
Insight
Fairless: Multifamily syndicators charge 1-3% acquisition and 0.5-2% management fees
“Generally speaking, when you do, it's called multifamily syndication. And you know, there, there's multiple ways to do it, but generally the three main ways are one is acquisition fee and I'll get specific in a second. I just want to stay at a high level. One …”
Joe Fairless Apr 15, 2016 ▶ 7:42 This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe Fairless Episode 239
Disclosure
Fairless: Retained 12.98% equity worth nearly $200K on first apartment deal
“And then on the ownership, I have 12.98% Ownership, which when you factor in the net worth, now cashflow standpoint doesn't mean anything until you actually sell it. But the net worth, you know, with the, with equity, it's valued almost around 200,000 dollars.”
Joe Fairless Apr 15, 2016 ▶ 10:36 This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe Fairless Episode 239
Assertion Not checkable as stated
Fairless: $5K per unit renovation yielded $75 rent bump, 20%+ return
“In the case of the last two deals, we put in 5000 dollars a unit, raise rents about 75 bucks and make over a 20% return on that.”
Joe Fairless Apr 15, 2016 ▶ 11:36 This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe Fairless Episode 239
Assertion Not checkable as stated
Fairless: 168-unit Cincinnati apartment complex had $105K monthly gross potential rent
“When you add up all the rents, 105,000 dollars. That, that would be gross potential income.”
Joe Fairless Apr 15, 2016 ▶ 12:07 This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe Fairless Episode 239
Disclosure
Fairless: Master lease avoided nearly $1M prepayment penalty on 6.19% loan
“We did a master lease with option to purchase because there's a large prepayment penalty on the property. And you know, upwards to almost a million dollars. And the loan wasn't very desirable to assume because it was 6.19%.”
Joe Fairless Apr 15, 2016 ▶ 12:47 This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe Fairless Episode 239
Disclosure
Fairless raised over $800K in equity from his podcast audience
“I've raised over 800,000 dollars from investors who just know me through the podcast.”
Joe Fairless Apr 15, 2016 ▶ 14:57 This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe Fairless Episode 239
Disclosure
Fairless left a $150K base salary ad agency role for entrepreneurship
“So base salary of 150,000 dollars, not including bonus, which probably would have been, I don't know, 10 to 20,000.”
Joe Fairless Apr 15, 2016 ▶ 2:02 This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe Fairless Episode 239
Disclosure
Fairless: Early single-family rentals yielded roughly $200 monthly profit each
“I had purchased my first house in 2009 and then my second one, third, fourth. So I ended up having four houses at that point between 2009 and like 2012 or so. And what I realized by purchasing the houses is that I was making like, you know, 200 bucks a month. …”
Joe Fairless Apr 15, 2016 ▶ 4:49 This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe Fairless Episode 239
Insight
Fairless: Commercial property managers typically charge 4% to 5% of collected revenue
“With commercial stuff, yeah, you pay about four to five percent of the money that they bring in every month or gets collected every month.”
Joe Fairless Apr 15, 2016 ▶ 9:54 This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe Fairless Episode 239
Disclosure
Fairless: Daily podcast generates $5K in monthly sponsorship revenue
“I probably make, you know, it varies every month, but probably around, I bring in probably on average, 5000 and then, you know, minus say 2500 to 3000 in cost depending on the month. So probably a couple thousand dollars a month.”
Joe Fairless Apr 15, 2016 ▶ 15:58 This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe Fairless Episode 239

The other half of the tape: Joe Fairless's own voice is left out of every number here. Other people bring the name up 1 time in 1 episode on Top Founders. 1 statement on the record names them. every mention, with the transcript →

Who brings them up most Nathan Latka 1

Statements about Joe Fairless, by other people (1)

Assertion Partly supported
Latka: Fairless controlled over $7M in real estate within six months
“His name is Joe Fairless, and he transitioned from being the youngest vice president of a New York City ad agency To creating a company that in six months controlled over seven million dollars worth of property.”
Nathan Latka Apr 15, 2016 ▶ 1:15 This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe Fairless Episode 239

Every mention by year

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2016 1 mention in 1 episode

Appearances (1)

EpisodeDateSpeaking time
This 30 Year Old Bought a $6.2m Apartment Complex And Makes How Much Cash Flow? With Joe F Apr 15, 2016 11m
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