Why Your Tenants Matter with Joe Rinderknecht

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What if the key to successful multifamily investing isn't just about the numbers—but about the people living in your properties? Joe Rinderknecht, the cowboy-hat-wearing founder of Cowboy Capital, shares his unconventional path from shoveling manure on a Utah ranch to operating over 1,000 multifamily units. 

[01:40 - 06:15] From Ranch to Real Estate: Building on Grit

• Grew up ranching and breaking horses in northern Utah—learned that your word is your bond
• Father left the ranch for construction and cabinet making, taught Joe everything from concrete to framing

[06:40 - 10:10] Trial by Fire: The 80-Unit Section 42 Property

• Asked for a property management job with zero experience—got thrown into an 80-unit low-income housing property
• Property had no manager for two weeks, with sky-high delinquency, vacancy, crime, drugs, and cockroaches

[10:11 - 15:20] The Path to Becoming a Sponsor

• Never planned to stay in property management long-term—goal was always to learn and move on
• Admits being "unemployable" with a resume showing 6-8 month stints at various companies

[16:35 - 23:35] Impact Investing: Making Every Dollar Matter

• Lost his brother (age 20) and grandmother in a 2013 car accident—nearly died himself
• Provides four types of support: capital, food, construction/home modifications, and mindset coaching

[23:36 - 26:40] Why Treating Tenants Well Is Good Business

• Questions how slumlords succeed when they don't care about people's lives
• When tenants feel like a unit is their home, turnover drops, repairs decrease, delinquency falls

[26:41 - 32:00] Rapid Growth and What's Next

• Bought 4 deals (419 units) since September 2024, currently under contract on 117 more units
• Believes there's a great buying opportunity in the next 10-24 months

[26:45 - 32:55] Final Four & How to Connect

Connect with Joe: 

Website: https://cowboycapital.us
Email: [email protected]
LinkedIn: Joe Rinderknecht
Instagram: @joe_rinder

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Key Quote:
"If you can get a tenant to feel like their unit is their home, your turnover goes down,

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