Multifamily Real Estate Investing Explained

What happens when a real estate deal goes wrong—and how should investors think about risk before they ever invest?

In this episode of The Medicine and Money Show, Ryan Smolarz sits down with multifamily investor Jason Kenney to discuss real estate syndications, investor due diligence, and the mindset shift professionals—especially doctors—must make to think like investors.

Jason shares his journey from a 20-year corporate career to real estate investing after realizing that a high income alone did not provide the freedom he and his family expected. That realization led him into single-family rentals, then ultimately into multifamily syndications and large-scale real estate investing.

The conversation explores how investors should evaluate deals, how sponsors should communicate when investments face challenges, and why understanding the assumptions behind projected returns is critical.

They also discuss the current multifamily market cycle, opportunities emerging from distressed deals, and why the next phase of the market may begin as early as 2026.

Topics Covered:

• Why communication and transparency matter when deals go wrong
 • How Jason transitioned from corporate America to real estate investing
 • What passive investors should ask before investing in a syndication
 • The SEC rules behind real estate syndications (506B vs 506C)
 • How doctors should think differently about risk as investors
 • Why projected returns are just models based on assumptions
 • The current multifamily market cycle and potential opportunities ahead
 • Why relationships and trust are the “currency of the future”

This episode is for physicians, professionals, and investors who want to better understand passive real estate investing and how to evaluate opportunities with a disciplined mindset.

Resources Mentioned:
Jason Kenney’s Smart Investor Checklist – 30 questions to ask before making a passive investment.

Connect with Jason Kenney:
Novo Capital Management – novocapitalmgmt.com

Learn More:
Visit MedMoneyShow.com for educational resources on investing, entrepreneurship, and building financial freedom outside traditional systems.