# Don’t Get Wiped Out: The Multifamily Investing Strategy That Beat 3 Downturns | Ep. 988

Page: https://stenobird.com/podcast/real-estate-investing-for-cash-flow-with-kevin-bupp-738816/don-t-get-wiped-out-the-multifamily-investing-strategy-that-beat-3-downturns-ep-988
Text version: https://stenobird.com/podcast/real-estate-investing-for-cash-flow-with-kevin-bupp-738816/don-t-get-wiped-out-the-multifamily-investing-strategy-that-beat-3-downturns-ep-988.md
Podcast: [Real Estate Investing for Cash Flow with Kevin Bupp](https://stenobird.com/podcast/real-estate-investing-for-cash-flow-with-kevin-bupp-738816)
Published: 2026-05-18T15:00:00+00:00
Episode link: https://episode.flightcast.com/01KRXQDW26ZY0J7156N06R4MRK.mp3
Audio file: https://episode.flightcast.com/01KRXQDW26ZY0J7156N06R4MRK.mp3
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Duration seconds: 2334

## Resource

What do the 2000 dot-com crash, the 2008 Great Financial Crisis, and the 2022 interest rate shock have in common? They wiped many multifamily operators out. Dwight Dunton survived all three. As founder and CEO of Bonaventure, Dwight and his team are responsible for $2.8 billion in assets under management (AUM). But Dwight didn’t start a fund, raise capital, and figure it out as he went. He learned to grow and protect his own money first. At just 25 years old, while his peers chased flashy internet stocks, Dwight acquired a 378-unit apartment community. He was stepping into a struggling asset that demanded sizable improvements and millions in repairs, but this experience provided a crash course in operations, value-add investing, and asset management. Dwight says to become an old, rich investor, you’ve got to 1. get old and 2. not get wiped out along the way. So, he focuses on “asymmetric” investing opportunities that have capped downside but plenty of upside for good operators. Then, he further de-risks these assets by insourcing the things most operators would outsource. In today’s conversation, we discuss all of this—the power of vertical integration, protecting assets and capital through downturns, and why long-term, buy-and-hold investing remains the surest path to generational wealth. Insights from today’s episode: - How Dwight protects his assets and capital with “anti-wipeout” investing - The keys to building a business that can survive any “Black Swan” event - Acquiring and managing a 378-unit apartment community at 25 years old - How to dramatically improve revenue with vertical integration - Why supply constraint, not job growth, is the surprising main driver of multifamily success — Connect with Dwight on LinkedIn Bonaventure Internet Subway Vest Residential…

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## Transcript

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