Todd Dexheimer started out as a high school teacher making $30,000 a year, buying his first foreclosures in 2008 because he was too naive to know better, and the math simply worked. Today his companies have bought and sold over $550 million of multifamily, senior housing, and commercial real estate. In this episode, Todd joins Chris to make the case that bigger deals are actually easier than small ones, walk through the senior housing rollercoaster that took his cash flow from $250,000 to negative in two years, and share what turned it back around.
What you’ll learn
- How Todd went from a $30,000-a-year teaching salary to buying his first foreclosures in 2008, and why being “naive enough” not to listen to the naysayers worked in his favor
- The mentor conversation (“why not now?”) that pushed him to buy his first apartment building, a 204-unit deal, within months
- Why Todd believes it’s actually easier to raise capital and operate a 100-unit building than a 20-unit one, and the economies of scale that make the difference
- Why he hired his first mindset and business coach around 2015, and how to know when you need one
- The senior housing deal that took his cash flow from $250,000 in year one to zero in year two and negative in year three, and exactly what COVID, staffing, and inflation did to cause it
- How becoming a true operating company, not just an owner, turned the business profitable again by late 2023
- Where Todd sees the best opportunities in multifamily and senior housing over the next 5 to 10 years
Resources mentioned:
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- Todd’s podcast: Pillars of Wealth Creation, wherever you listen to podcasts
- Todd’s company: Endurus Capital
- Connect with Todd on LinkedIn
- Book a call with our team
Listen to the podcast on your preferred platform:
Christopher Larsen is the founder and Managing Partner of Next-Level Income. Since “retiring” after 18 years in the medical device industry he dedicates his time to helping others become financially independent through education and investment opportunities. Chris has been investing in and managing real estate for over 20 years.
While completing his degree in Biomechanical Engineering and M.B.A. in Finance at Virginia Tech, he bought his first single-family rental at age 21. Chris expanded into development, private-lending, buying distressed debt as well as commercial office, and ultimately syndicating multifamily properties. He began syndicating deals in 2016 and has been actively involved in over $500M of real estate acquisitions.
In addition to real estate, Chris has invested in equities, oil & gas, and small business lending, as well as being active in Venture South, one of the nation’s Top 10 Angel Investing groups. Chris lives with his wife and two boys (and Viszla, Lucy!) in Asheville, NC where he loves spending time with them in the outdoors and enjoying the food and culture that the region has to offer.
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