Next cohort begins October 15. Applications open now. -- Days -- Hrs -- Min -- Sec
Old Capital Multifamily Accelerator Program logo
Old Capital
Multifamily Accelerator
Turning Education Into Ownership
Old Capital Multifamily Accelerator Program

Your first apartment deal starts here.

Go from studying multifamily deals to owning them. A 4-week intensive cohort that equips serious investors to underwrite real deals, tour real properties, and submit real offers, guided by experienced operators.
What Investors Say

Hear from people who've been in the room.

CA
Chris A.
★★★★★

It's amazing how in-depth the team at Old Capital is. I came away with a master's degree in everything we covered, in such a short time.

AM
Andrew M.
★★★★★

There are a ton of masterminds you can spend money on. Reach out to Old Capital. The depth, assistance, and resources they provide is unmatched.

MR
Mario R.
★★★★★

I've been in mentorship groups before, and the information they shared here was priceless. Things I didn't learn in an entire program.

SH
Stacey H.
★★★★★

It reaffirmed that Old Capital knows more about this market than anybody else. Their market knowledge is just incredible.

BW
Brandon W.
★★★★★

If I had to sum up what I learned in one word: underwriting, and how it can drive a deal in either direction.

MP
Minh P.
★★★★★

So much useful, hands-on information based on real cases. You don't just learn the principle, you see it at an actual property.

RP
Ryan P.
★★★★★

Today was awesome and well worth it. We packed a lot of learning into how to analyze and look at multifamily deals.

CK
Conner K.
★★★★★

I like how Paul talks about how they actually structure these deals, work with the general partners, and finance the asset. That's something I really didn't understand before.

JS
Julie S.
★★★★★

You always hear about the bank from the borrower's side. Getting the banker's perspective, and understanding how different people evaluate a deal, was the piece I wanted.

LC
Leila C.
★★★★★

There's so much to learn in this space, especially underwriting. You have to underwrite your deals correctly, and build the relationships that matter in this industry.

AD
Amy D.
★★★★★

I can really understand the breakdown on deal structure now, and how to decipher from a lender's perspective what a good deal is and what a bad one is.

Inside The Community

This is what it looks like.

An attendee laughing during a session
Attendees laughing at a session
Operators on stage during a panel
Small group discussion between investors
Attendees at the Old Capital Live! stage
A panel of apartment operators on stage
Investors talking during a break
Attendees enjoying a session
Speakers taking questions from the room
The room filling up before a session
Attendees listening from the audience
Investors gathered at an Old Capital event
Investors talking at an Old Capital happy hour
Presenting to a full classroom at an Accelerator session
Touring a property with the group
Walking an apartment property on a tour
A classroom session on multifamily fundamentals
Touring a property clubhouse with the group
Investors gathered outside a property on a tour
Old Capital investors networking at an event
The Old Capital multifamily community
Investors connecting at an Old Capital event
An Old Capital multifamily event
Members of the Old Capital community
Inside the Old Capital community
Old Capital investors networking at an event
The Old Capital multifamily community
Investors connecting at an Old Capital event
An Old Capital multifamily event
Members of the Old Capital community
Inside the Old Capital community
The Old Capital multifamily community
Investors connecting at an Old Capital event
An Old Capital multifamily event
Members of the Old Capital community
Inside the Old Capital community
Old Capital investors networking at an event
The Old Capital multifamily community
Investors connecting at an Old Capital event
An Old Capital multifamily event
Members of the Old Capital community
Inside the Old Capital community
Old Capital investors networking at an event
The Old Capital multifamily community
Investors connecting at an Old Capital event
An Old Capital multifamily event
Members of the Old Capital community
Inside the Old Capital community
Old Capital investors networking at an event
The Old Capital multifamily community
Investors connecting at an Old Capital event
An Old Capital multifamily event
Old Capital networking at an industry event
Old Capital at the AIM conference
A speaker taking the microphone on stage
Walking an apartment property on site
An attendee laughing during a talk
Touring properties by bus with the group
The audience during a live session
Walking through a unit on a property tour
An attendee between sessions
Attendees at an Old Capital event
Investors meeting at an Old Capital event
Attendees networking at an Old Capital event
Attendees catching up between sessions
Speaking to the room at an Old Capital happy hour
A classroom session on underwriting and cap rates
Walking through a unit on a property tour
Walking through a unit on a property tour
A session in a property clubhouse lounge
Members of the Old Capital community
Inside the Old Capital community
Old Capital investors networking at an event
The Old Capital multifamily community
Investors connecting at an Old Capital event
An Old Capital multifamily event
Members of the Old Capital community
Inside the Old Capital community
Old Capital investors networking at an event
The Old Capital multifamily community
Investors connecting at an Old Capital event
An Old Capital multifamily event
Members of the Old Capital community
Inside the Old Capital community
Old Capital investors networking at an event
The Old Capital multifamily community
Investors connecting at an Old Capital event
An Old Capital multifamily event
Members of the Old Capital community
Inside the Old Capital community
Old Capital investors networking at an event
The Old Capital multifamily community
Investors connecting at an Old Capital event
An Old Capital multifamily event
Members of the Old Capital community
Inside the Old Capital community
Old Capital investors networking at an event
The Old Capital multifamily community
Investors connecting at an Old Capital event
An Old Capital multifamily event
Members of the Old Capital community
Inside the Old Capital community
Old Capital investors networking at an event
Old Capital at a multifamily industry event
Old Capital with CoStar economist David Kahn
Old Capital at the NMHC conference
Cohort 1 Recap

A Glimpse Inside the Accelerator

Day one of our first cohort. Here is a look inside four weeks of learning by doing.

Hands-On Underwriting

Analyze real multifamily deals in a structured classroom.

Real-World Property Tours

Walk apartments and see what seasoned investors look for.

Direct Access to Active GPs

Hear current GPs share their strategies, challenges, and lessons.

Experienced Instructors

Learn from professionals in multifamily lending and operations.

Lasting Relationships

Build connections with motivated investors who share your goals.

You've done enough learning from the sidelines. This is where you step in.

Sound Familiar?

If these sound familiar, you're exactly who we built this program for.

Hundreds of podcast episodes.Still no apartment acquisition.
Underwritten dozens of practice deals.Never submitted an LOI.
Plenty of networking.Still investing alone.
Read the books.Still waiting to buy.
Watched every webinar.Still no action plan.
Waiting for the market to change.Others are buying today.
Want to raise capital.Don't know where to start.
Looking at properties.Not making offers.
Following experienced investors.Not learning beside them.
Built spreadsheets.Never negotiated a purchase.
Wondering what comes next.No proven roadmap.
Ready to own apartments.Just need the bridge.
Most apartment investors don't fail because they lack education.
They fail because they never make the leap from learning to doing.
The Old Capital Multifamily Accelerator helps you make that leap.
What You Get

Leave with work completed, not just ideas discussed.

Underwrite a Live Apartment Deal Submit Your First LOI Walk Real Investment Opportunities Build a Business Plan Present Like a Sponsor Join a Community of Active Investors
Who's Guiding You

Led by people who close deals for a living.

Paul Peebles
Paul Peebles
National Underwriter
Known as the "Godfather" of Multifamily Lending. Has closed over $9 billion in commercial real estate transactions.
James Eng
James Eng
National Director
Helped investors acquire 22,000+ units. Known as "The Professor" of multifamily financing.

Read Paul & James' full stories →

Who Is Old Capital?

Learn from the people who finance the deals.

For nearly four decades, Old Capital has been at the center of the multifamily capital markets. Since 1987, our team has helped arrange more than $9 billion in commercial real estate financing, giving us a front-row seat to every phase of the apartment investment cycle, from booming markets to challenging downturns. That experience becomes your advantage.

Inside the Old Capital Multifamily Accelerator, you'll learn directly from experienced lenders, apartment owners, brokers, attorneys, property managers, asset managers, and other industry professionals who are actively closing transactions today, not instructors teaching outdated theories. Instead of hypothetical case studies, you'll evaluate live apartment opportunities, review real underwriting, discuss current financing structures, and gain insight into how experienced investors make acquisition decisions in today's market. You'll also benefit from the relationships we've built over decades with lenders, brokers, owners, equity providers, and industry leaders across the country.

The Accelerator is powered by the same team behind the Old Capital Real Estate Investing Podcast, the Old Capital Conference, and our renowned apartment bus tours. The difference is that the Accelerator doesn't stop at education. It provides a structured path to help you apply what you learn and move toward acquiring your first apartment investment.

The Old Capital team
The Old Capital team
Most real estate education companies teach investing.
We finance investors.

Every week we analyze and structure millions of dollars in apartment transactions, giving Accelerator members exposure to the same deals, underwriting, financing strategies, and market intelligence our lending team sees every day. That's an advantage few education programs can offer.

Deals We've Closed

This is the deal flow you're stepping into.

Limestone Oaks apartments
Limestone Oaks
San Antonio, TX
Loan Type: Non-Recourse Bridge
Units: 400
Cielo Azul apartments
Cielo Azul
Irving, TX
Loan Type: Fannie Mae
Units: 320
Village at Rayzor Ranch apartments
Village at Rayzor Ranch
Denton, TX
Loan Type: Non-Recourse Bridge
Units: 300
Hermitage apartments
Hermitage
Speedway, IN
Loan Type: Fannie Mae
Units: 280
Eagle Lake Landing apartments
Eagle Lake Landing
Indianapolis, IN
Loan Type: Fannie Mae
Units: 277
Bedford Creek apartments
Bedford Creek
Bedford, TX
Loan Type: Freddie Mac
Units: 266
Barrett Creek apartments
Barrett Creek
North Richland Hills, TX
Loan Type: Freddie Mac
Units: 256
Nexus at Sandhill apartments
Nexus at Sandhill
Columbia, SC
Loan Type: Non-Recourse Bridge
Units: 240
Copper Creek apartments
Copper Creek
Fort Worth, TX
Loan Type: Non-Recourse Bridge
Units: 236
Courtyard of Roses apartments
Courtyard of Roses
Irving, TX
Loan Type: Fannie Mae
Units: 224
Indigo apartments
Indigo
Corpus Christi, TX
Loan Type: Freddie Mac
Units: 224
Reagan at Bear Creek apartments
Reagan at Bear Creek
Euless, TX
Loan Type: Fannie Mae
Units: 216
Cortland North Beach apartments
Cortland North Beach
Fort Worth, TX
Loan Type: Freddie Mac
Units: 216
The Beacon on Westmoreland apartments
The Beacon on Westmoreland
DeSoto, TX
Loan Type: HUD
Units: 194
Uptown at Cole Park apartments
Uptown at Cole Park
Dallas, TX
Loan Type: Non-Recourse Bridge
Units: 179
Colinas Ranch apartments
Colinas Ranch
Irving, TX
Loan Type: Fannie Mae
Units: 160
Castlewinds apartments
Castlewinds
North Richland Hills, TX
Loan Type: Fannie Mae
Units: 156
Brownstone apartments
Brownstone
Uvalde, TX
Loan Type: Fannie Mae
Units: 152
Program Walkthrough

Discover the 4 phases of our intensive multifamily accelerator program

The 4-Week Intensive

Four intensive weeks, one clear goal.

Four focused weeks of live sessions, property tours, and real deal work.
In-person classroom and apartment bus tour
Week 1
Classroom & Bus Tour
In person: Foundations & Acquisitions
In-person classroom (about 3 hours): the history of multifamily and how today's market took shape
Afternoon bus tour: walk Class A, B, and C properties across Dallas
Meet general partners and listing brokers on-site and hear what makes each deal work, or not
You leave with: an investor's eye for reading a property, plus the market context behind today's deals
Underwriting a multifamily deal
Week 2
Underwrite & Make Offers
Acquisitions: Execution
Underwriting: T-12 rent roll, NOI, cap rate, DSCR, value-add projections
Group model build: live Excel underwrite on a real deal together
LOI structure, offer price, earnest money & negotiation tactics
You leave with: a completed underwriting model + your first LOI drafted on a live deal
Reviewing lender reports and financing documents
Week 3
Financing & Syndication
Under contract: loan, diligence & the raise
Loan application: what lenders require, and how the financing process works once you're under contract
Third-party reports: the Phase I environmental, engineering, and appraisal, and how to read what they tell you
Raising capital: a syndication attorney, 506 vs 506(c), your PPM, and a business plan with preferred returns and fees
You leave with: a lender-ready financing plan and a syndication business plan to present to investors
Managing a multifamily property after closing
Week 4
Closing & Asset Management
Post-close: operate, report & exit
After you close: self-manage or hire a third-party property manager, and set up your reporting
Keeping the asset performing: CapEx planning, plus the accounting behind K-1s and cost segregation
The exit: knowing when and how to sell, and the process to get there
You leave with: a 12-month operating and CapEx plan, plus a clear exit strategy and sale timeline

Multifamily Deal Timeline

From listing to profit distribution: key steps and the team members involved.
Phase 1
Sourcing & Underwriting
Deal listed for saleListing brokers
Property tours3 to 4 weeks
Buyer underwrites dealMortgage broker, PM, insurance broker
Buyer builds teamCo-GPs, PM, equity partners
Phase 2
Offer & Selection
Call for offersBuyers submit LOIs
Broker shortlists offers3 to 5 to best & final
Buyers submit best & finalSharpened offers
Seller interviews buyersSeller, listing broker
Seller selects buyerAlso picks title company
Phase 3
PSA, Due Diligence & Financing
Negotiate PSARE / transaction attorney
Wire earnest moneyTitle company escrow
Form buyer LLCRE / transaction attorney
Physical & financial due diligenceInspector, PM, lender
Phase I, engineer, appraisalOrdered by lender
Loan application & equity raiseMortgage broker, lender, securities attorney
Phase 4
Closing & Asset Management
Close on propertyLoan, insurance, equity final
Take over propertyProperty manager
Waterfall, K-1s, cost segAccountant, cost seg specialist
Asset management callsProperty manager, weekly/monthly
Monthly LP updatesAsset manager
Execute plan & sellListing broker
Distribute profitsAsset manager

Who You'll Learn From

$
Commercial Lenders
How your deal is really underwritten, and what a lender needs before yes.
LB
Listing Brokers
Where deals come from and how offers get taken seriously.
PM
Property Managers
What happens the day after you close, and what it really costs to run.
§
Real Estate Attorneys
Deal structure, syndication basics, and the paperwork that protects you.
IN
Insurance Advisors
Covering the asset properly without over-paying.
AM
Asset Managers
Running the business plan and hitting the numbers after the purchase.
%
Tax & Cost Segregation
Depreciation, cost seg, and how returns are actually kept.
GP
Apartment Owners
Active GPs who have closed and operated multifamily deals.
You're Never On Your Own

Real support, real people, every step.

Accountability groups

You're placed in a small group that keeps you moving: sourcing, underwriting, and reviewing deals together, week to week.

Access to experienced members

Direct connection to seasoned GPs, LPs, and Old Capital professionals who've closed real deals and answer real questions.

Who It's For

Built for investors ready to act.

General Partners

You're ready to close

Source, underwrite, and close your first or next deal with a cohort behind you.

Limited Partners

You want to see deals clearly

Evaluate deals, ask sharp questions, and invest with confidence.

Accredited Investors

You're going direct

Deploy capital and build a direct multifamily ownership portfolio.

It's not for everyone, and that's intentional. Cohort members are expected to show up, do the work, and participate fully.
How To Apply

Three simple steps.

1

Apply online

Fill out the short application form. It takes about two minutes.

2

Quick intro chat

We review your application and reach out to make sure it's a good fit.

3

Join the cohort

Reserve your seat and get ready for the next intake.

A year from now, you'll either still be talking about buying apartments…or you'll be talking about the apartments you own.

The difference starts today.

Next cohort begins October 15 · only 50 seats available.
Meet Your Instructors

Learn from the people teaching you.

Paul sits down with each Accelerator instructor, so you know exactly who you will learn from and what they bring to your deals. Use the arrows to browse.
Bryan AmosOmni Assessments · Physical Due Diligence
Coming soon
New instructorInterview coming soon
Coming soon
New instructorInterview coming soon
Coming soon
New instructorInterview coming soon
Coming soon
New instructorInterview coming soon
Coming soon
New instructorInterview coming soon
Coming soon
New instructorInterview coming soon
Coming soon
New instructorInterview coming soon
Beyond The Cohort

Upcoming multifamily events.

The Accelerator runs alongside a full calendar of Old Capital events. Come meet the community.
2026 Old Capital Multifamily Conference
10th Annual Conference
2026 Old Capital Multifamily Conference
Sept 23–24, 2026 · Harvest Hall, Grapevine TX
Two days of keynotes, panels, and the networking deals come from.
Reserve Your Slot
People enjoying an Old Capital multifamily bus tour
Bus Tour
Old Capital Multifamily Bus Tour
Date & details coming soon
Walk real properties with investors and operators, on site.
Announcing soon. Follow our socials.
FAQs Apply Now