Weiss Advice
Weiss Advice
Why Your Tenants Matter with Joe Rinderknecht
What if the key to successful multifamily investing isn't just about the numbers—but about the people living in your properties? Joe Rinderknecht, the cowboy-hat-wearing founder of Cowboy Capital, shares his unconventional path from shoveling manure on a Utah ranch to operating over 1,000 multifamily units.
[01:40 - 06:15] From Ranch to Real Estate: Building on Grit
- Grew up ranching and breaking horses in northern Utah—learned that your word is your bond
- Father left the ranch for construction and cabinet making, taught Joe everything from concrete to framing
[06:40 - 10:10] Trial by Fire: The 80-Unit Section 42 Property
- Asked for a property management job with zero experience—got thrown into an 80-unit low-income housing property
- Property had no manager for two weeks, with sky-high delinquency, vacancy, crime, drugs, and cockroaches
[10:11 - 15:20] The Path to Becoming a Sponsor
- Never planned to stay in property management long-term—goal was always to learn and move on
- Admits being "unemployable" with a resume showing 6-8 month stints at various companies
[16:35 - 23:35] Impact Investing: Making Every Dollar Matter
- Lost his brother (age 20) and grandmother in a 2013 car accident—nearly died himself
- Provides four types of support: capital, food, construction/home modifications, and mindset coaching
[23:36 - 26:40] Why Treating Tenants Well Is Good Business
- Questions how slumlords succeed when they don't care about people's lives
- When tenants feel like a unit is their home, turnover drops, repairs decrease, delinquency falls
[26:41 - 32:00] Rapid Growth and What's Next
- Bought 4 deals (419 units) since September 2024, currently under contract on 117 more units
- Believes there's a great buying opportunity in the next 10-24 months
[26:45 - 32:55] Final Four & How to Connect
Connect with Joe:
Website: https://cowboycapital.us
Email: Joe@CowboyCapital.us
LinkedIn: Joe Rinderknecht
Instagram: @joe_rinder
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Key Quote:
"If you can get a tenant to feel like their unit is their home, your turno