The Best Ever CRE Show JF 4146: Value-Add Strategy, Tertiary Market Focus and Operational Control ft. Justin Spillers
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Jan 10, 2026 Justin Spillers, a former real estate attorney and co-founder of Real Estate Alpha, dives into his transformation from law to multifamily investing. He reveals how his first seven-unit deal fueled his confidence and discusses why focusing on tertiary Ohio markets offers a competitive edge. Justin emphasizes disciplined underwriting and heavy renovations for rent growth, alongside the importance of operational control. He shares unique relationship-building tactics and insights into maximizing efficiency, all while preparing to scale his multifamily portfolio.
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First Seven-Unit That Bootstrapped Growth
- Justin bought a seven-unit for $100,000 early on and learned the hard lessons of hands-on ownership.
- The deal proved unit-count leverage and confidence came from volume and close inspection.
Put In The Reps On Deal Volume
- Look at a huge volume of properties until the numbers that feel different appear.
- Use calculators and other investors to gut-check deals before pulling the trigger.
Used Properties Can Compete With New Builds
- Value-add multifamily in Ohio beats many alternatives when new construction is costly.
- Renovating C/C+ stock to near-market rents gives strong returns versus building new.
