Real-estate operator August Biniaz (Co-Founder & CIO, CPI Capital) breaks down how he grew from agent and small developer to closing $225M+ in multifamily assets—plus the boutique advantages that win in today's market: cross-border investor structures, a mid-market acquisition lane ($20–$50M), and ruthless underwriting discipline (rent growth, exit caps, and debt selection). We cover value-add vs BTR, lessons from deals walked away from, and why talent, conservative debt, and 95% occupancy targets matter more than spreadsheets.

Highlights

• The mid-market moat: Why 100–300 doors,

• LP economics first: Targeting 15–20% average annualized returns and passing the "net-to-investor" test before bidding.

• Underwriting levers that kill deals: Keeping organic rent growth to ~2.5%–3%, and being conservative on exit cap rates.

• Debt is destiny: Why fixed, interest-only 5-year debt reduces "debt distress" risk.

• Boutique advantage: Direct access to principals, tight asset management, investor dinners, and hands-on ops.

• Cross-border structure: How Canadian LPs invest into U.S. deals while avoiding double taxation and using registered retirement funds (via MFT).

• Lessons learned: "Best deals are often the ones you walk away from," plus "hire slow, fire fast.

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Links and Resources from this Episode

• https://www.practicalwealthadvisors.com

• https://www.practicalwealthsolutions.net/

• Email Curtis for a free report - [email protected]

• Call his office - 610-622-3121

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• Connect with August Biniaz

• [email protected]

• LinkedIn: linkedin.com/in/augustbiniaz

• Company: cpicapital.ca

• Newsletter: cpicapital.cpicapital.ca/newsletter

• Investor scheduling: meetings.hubspot.com/a

• Phone: +1 (604) 363-4797

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