In a recent episode of the First, Worst, Best & Next podcast, hosted by Brad Weaver, EM Capital’s founder, Chris Lento, shared his journey from house-hacking a triplex in Boston to building a multifamily portfolio valued at over $100 million across key markets in the Southeast.
Key Highlights:
- From Engineer to Entrepreneur:
- Transitioned from a full-time engineering career to real estate, leveraging analytical skills and persistence to self-manage early investments.
- Bought his first multifamily at age 22 and managed it personally building real-world experience that shaped EM Capital’s operating philosophy.
- Hands-On Lessons in Property Management:
- Managed five properties himself over five years before scaling learning firsthand the impact of day-to-day operations on asset performance.
- Identified that 50–70 unit buildings are often the most challenging to operate efficiently needing the same systems as larger properties without the economies of scale.
- Unlocking Hidden Value:
- Secured a long-term cell tower lease that we are now selling for $750K highlighting the importance of creative value-add strategies.
- Completed multiple condo conversions in high-end neighborhoods to unlock sales premiums by converting rental buildings into individual ownership opportunities.
- Scaling with Focused Partnerships:
- Formed long-term relationships with equity partners, brokers, and operators, allowing EM Capital to compete on larger, institutional-grade deals.
- Focused on 100+ unit properties, backed by fixed-rate debt, conservative underwriting, and operational discipline.
- Future Vision for EM Capital:
- Targeting to grow the portfolio to over $200 million in AUM in the next two years.
- Exploring new markets and deepening its presence in Raleigh, Charlotte, Atlanta, and other Southeast metros with strong demographic tailwinds.
Chris Lento’s story offers a roadmap for professionals looking to make the leap into real estate investing grounded in discipline, creative problem-solving, and long-term relationship building.
For more insights, visit our website.
Connect with Chris Lento: LinkedIn.
Listen to the Full Episode: Available on Apple.
Join our investor community by signing up here.
