For many investors, the journey into real estate begins with a single deal. For Axel Ragnarsson, it started even earlier, by flipping cars in college. That experience sharpened his skills in spotting value, negotiating, and turning opportunities into profit. When he discovered real estate, he quickly recognized that the same principles applied on a larger scale, and multifamily investing offered the long-term wealth-building model he was looking for.
On this episode of Zen and the Art of Real Estate Investing, Jonathan speaks with Axel about how he built a personal portfolio of small multifamily properties before transitioning into raising capital and scaling through syndications. Axel shares why building slowly, prioritizing relationships, and focusing on sustainable deal structures allowed him to grow without unnecessary stress. He also explains why aligned incentives between general partners and passive investors create healthier, more profitable investments.
One of the recurring themes in Axel’s approach is the difference between transactional and relationship-driven real estate. In single-family investing, quick transactions often dominate. In multifamily, sellers tend to be seasoned owners who care about ease, trust, and credibility. Axel explains that a direct-to-seller strategy is less about chasing immediate deals and more about cultivating long-term connections. Many of his acquisitions—and even new investor partnerships—began with a simple introduction letter or phone call that didn’t result in an immediate sale but planted the seed for future opportunities.
Axel and Jonathan also explore how creativity in deal structuring opens doors that traditional brokered transactions often can’t. By working directly with owners, Axel has negotiated terms like seller financing, management transition periods, and portfolio acquisitions that have created win-win outcomes for both parties. These strategies not only make deals financeable but also deepen trust with sellers who appreciate a smoother process.
Ultimately, Axel emphasizes that real wealth in multifamily investing isn’t built through one flashy deal or chasing high door counts. It’s the product of patience, consistent effort, and the willingness to prioritize relationships over short-term wins. For investors seeking to grow sustainably, his story is a reminder that aligned incentives, trust, and long-term thinking will consistently outperform aggressive, short-sighted approaches.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out https://zenandtheartofrealestateinvesting.com/podcast/283/.