When Matt first started in real estate, he was flipping single-family homes. Now, he's buying and renovating apartment buildings worth millions. How did he do it? By learning smart strategies, like the BRRRR method, and focusing on cash flow that keeps his business growing.
This blog shares Matt’s journey—from quitting his day job to building a business that gives him freedom and options.
If you’ve ever wondered how to scale from wholesaling to multifamily investing, Matt’s story will give you a real-world example that’s easy to follow and full of useful tips.
From Single Houses to Big Buildings: Matt’s Real Estate Path
Matt, co-founder of Nexus Home Buyers, has turned his real estate career into a roadmap for anyone looking to scale from single-family wholesaling to investing in apartment complexes.
His journey highlights how smart strategies like the BRRRR method and focusing on active cash flow can help investors grow quickly and sustainably.
Matt’s Beginnings: From 9-to-5 to Real Estate Investing
Matt started his real estate journey in 2015 after reading Rich Dad Poor Dad during a beach vacation. At the time, he was working as a physical therapist assistant but realized he needed a new path to reach financial freedom.
Motivated and curious, he began learning everything he could by listening to podcasts. Before long, he quit his job and jumped into real estate full-time.
In 2017, Matt and his business partner Zach launched Nexus Home Buyers. They began by wholesaling single-family homes, a common entry point for new investors. Over time, they expanded into flipping houses and buying rental homes.
But it wasn’t until 2020, during the uncertainty of the COVID-19 pandemic, that they took a bold step—buying their first apartment complex.
That first project was a 24-unit building in Knoxville. They bought it below market value, renovated every unit, found new tenants, and refinanced the property. This is a textbook example of the BRRRR strategy (Buy, Renovate, Rent, Refinance, Repeat)—a powerful tool for scaling real estate investments.
Current Apartment Projects Using BRRRR
What Is the BRRRR Strategy for Apartments?
The BRRRR strategy stands for Buy, Renovate, Rent, Refinance, Repeat. It allows investors to grow their portfolios by recycling the same capital. Here's how Matt is using this method in his current projects:
Matt is currently renovating two apartment complexes:
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A 13-unit building bought for $1.3 million with $400,000 in renovations. After completion, it’s expected to be worth about $2.3 million.
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A 16-unit property purchased for $1.4 million, also with $400,000 in renovations. This one should be valued around $2.5 to $2.6 million once finished.
Both projects follow the same BRRRR model Matt once used for single-family homes. The idea is simple but powerful: buy distressed properties, renovate to increase rental income, and refinance based on the new value.
Since lenders typically refinance up to 70% of the property’s appraised value, this allows investors to pull out most—or even all—of their original investment while still owning the asset.
Want to see how Matt brings these apartment deals to life? Watch this quick video for a behind-the-scenes look at his renovation and BRRRR process in action.
Why Matt Shifted to Apartment Complexes
Matt and his team stopped buying single-family rentals in late 2023. Why? Because market trends in Knoxville started to shift. Home prices had appreciated rapidly, but inventory was growing, and mortgage rates were still high.
That made owning and renting out single-family homes less profitable.
Instead, Matt focused on multifamily properties, especially C-class buildings in B+ neighborhoods. These buildings are often under-rented and in need of renovation—making them ideal for BRRRR. He found both of his current deals on the MLS, but he also recommends looking for properties with ballooning loans.
Many of these were bought in the last five years at inflated prices and aren’t cash-flowing well, creating opportunities for savvy investors.
Balancing Active and Passive Cash Flow
A key part of Matt’s real estate philosophy is balancing active and passive cash flow.
He says, "Real estate is a great wealth-building tool, but we’ve learned that active cash flow is just as important—if not more—than passive income."
Passive cash flow comes from rental properties. Active cash flow, on the other hand, comes from the day-to-day business—like wholesaling deals.
Nexus Home Buyers still wholesales 2 to 4 properties each month, with an average profit of $15,000 to $20,000 per deal. This active income helps fund renovations, acquisitions, and other business investments.
Building Multiple Income Streams Beyond Real Estate
Looking ahead, Matt plans to branch out even more. He’s interested in buying service-based businesses related to real estate—like HVAC or roofing companies. These businesses not only support his main investment operations but also create new streams of active cash flow.
Matt’s long-term goal is not just about owning more properties. It’s about building systems and income streams that let him live life on his own terms.
That means traveling with his fiancée, enjoying time off, and growing his businesses without being tied to daily tasks.
Final Takeaway
Matt’s success didn’t happen overnight. He started small, stayed focused, and used each step to level up. From wholesaling homes to running apartment projects, his story shows how smart strategies and steady income can help you build long-term wealth.
If you're ready to move beyond flipping and want to learn how to invest in apartment complexes the smart way, take a page from Matt’s playbook. Focus on cash flow, know your numbers, and don’t be afraid to think bigger.
Frequently Asked Questions (FAQ)
Q: What is the BRRRR strategy for apartment complexes?
A: It stands for Buy, Renovate, Rent, Refinance, Repeat. It's used to scale real estate investments with less upfront capital. Investors can use this strategy for single-family homes, apartment complexes, or even duplexes.
Q: How do I scale from wholesaling to multifamily?
A: Start with steady cash flow from wholesaling, then reinvest profits into small multifamily deals using the BRRRR method.
