At Ascent Multifamily Accounting, we work with hundreds of multifamily operators across the country. One of the most transformational decisions we see our clients make is the move to vertically integrate by launching their own property management companies. It may seem counterintuitive, but when done right, this bold step can actually make things easier and dramatically more profitable.

This principle is powerfully captured in the bestselling book 10x Is Easier Than 2x by Dan Sullivan and Dr. Benjamin Hardy, referred to us by one of our clients, Corey Muldrow of M Group Capital.

The book’s core idea: trying to double your business (2x) usually means working harder, doing more of the same, and adding complexity. But going for 10x forces clarity. It pushes you to simplify, focus on your highest value work, and shed the 80 percent of activities that don't drive transformative results. In short, 10x requires a new identity, new systems, and often, new people—but in doing so, it actually becomes easier than the grind of incremental growth.

We see this mindset in action with multifamily owners who decide to take control of their operations. Instead of relying on third-party managers, they bring property management in-house. It’s a 10x move that demands rethinking how they run their businesses, but the results can be exponential.

The 10x Identity Shift: From Owner to Operator

According to Sullivan and Hardy, going 10x means letting go of the past version of yourself and stepping into a bigger identity. For multifamily investors, that means evolving from "owner" to "operator." You’re no longer just acquiring assets and handing them off to someone else. You’re building an integrated real estate business that controls the tenant experience, on-site staffing, marketing, leasing, and budgeting.

That identity shift requires new capabilities, systems, and leadership. But it also creates alignment. Instead of constantly managing the gap between your investment thesis and your manager's execution, you now control both sides of the equation. You gain speed, flexibility, and the ability to innovate.

Real-World 10x Examples in Multifamily

Let’s take a look at four multifamily entrepreneurs who have taken the 10x path by creating their own management companies:

1. Roland Stewart – Paramount Investments

Roland Stewart of Paramount Investments made the leap from 2x to 10x by bringing his property management in-house. As the owner of five multifamily communities in Texas with more than 1,500 units, Roland was spending over $44,000 a month on third-party management fees. Despite this significant expense, his properties weren't getting the attention they needed.

Frustrated by limited control and inconsistent performance, Roland hired a management consultant who recommended vertical integration. He brought in his best regional manager and partnered with Ascent Multifamily Accounting to handle the accounting, payroll, and financial reporting. The results were dramatic.

Within 12 months, Roland's firm saw average occupancy rise by 7% across his portfolio, translating to more than $55,000 in additional monthly income. Coupled with his $24,000 monthly savings on management expenses, Roland's decision to go in-house added nearly $1 million in annual net income. By simplifying operations and aligning his team, Roland unlocked scale, profitability, and peace of mind—the very essence of 10x thinking.

2. Brennen Degner – DB Capital

Brennen Degner took a similar path with DB Capital. After seeing the disconnect between third-party managers and his value-add strategy, he brought property management in-house. The move gave him tighter cost controls, improved accountability, and clearer communication with on-site teams.

Today, DB Capital's integrated approach is central to its ability to execute complex renovations, stabilize assets quickly, and maintain high occupancy across multiple markets. Brennen’s 10x decision has translated into scalable systems and a culture of operational excellence.

3. Corey & Candace Muldrow – M Group

Corey and Candace Muldrow of Dallas-based M Group are another great example. After reading Rich Dad Poor Dad, they were inspired to build long-term wealth through multifamily investing. As they scaled, they realized that to truly control their outcomes and provide great service to residents, they needed to manage their own properties.

They launched their management firm with a focus on quality, culture, and systems. With a background in medicine and business, they brought a disciplined, process-driven approach to operations. Their story shows that even operators without a traditional property management background can succeed by applying 10x thinking.

The Hidden Costs of 2x Thinking

For many multifamily owners, staying with third-party managers seems like the safe, logical path. It’s what everyone does. But in practice, it can be a 2x trap:

• Limited visibility into leasing trends, maintenance backlogs, and cost overruns
• Slow reaction times to occupancy issues or economic changes
• Misaligned incentives between owner and manager
• Inconsistent performance across markets or property types

These challenges drain time and energy. Owners end up managing the manager, chasing reports, and dealing with surprises—the very things they hoped to avoid. It’s a lot of effort for only marginal control.

Why Vertical Integration is Actually Easier (Long-Term)

Launching a management company isn’t easy—but it creates simplicity and leverage over time. When you bring management in-house, you gain:

• Real-time data for better decision-making
• Aligned teams working toward common goals
• Repeatable systems for leasing, maintenance, and renewals
• Brand consistency across your portfolio
• Greater NOI control and investor confidence

It’s a classic 10x shift: the short-term effort pays off in long-term efficiency, control, and scalability.

How Ascent Helps Operators Go 10x

At Ascent Multifamily Accounting, we specialize in supporting operators who want to scale through vertical integration. We provide outsourced accounting and financial reporting that helps new management firms get off the ground and stay focused on growth. Our services include:

• Books and records setup for new management entities
• Monthly financial packages that match institutional standards
• Payroll and accounts payable systems tailored for property operations
• Budgeting and forecasting tools that support better decision-making

Whether you're just starting to consider the 10x leap or already building your in-house team, Ascent can be your back-office partner. We free you up to focus on strategy, staffing, and scaling—not spreadsheets.

Final Thought: Your 10x Future

10x Is Easier Than 2x isn’t just a catchy phrase. It’s a call to rethink how you grow. In multifamily, that means considering vertical integration not as a burden, but as a breakthrough. When you control operations, you control outcomes. You unlock scale, confidence, and long-term enterprise value.

If you're ready to make the leap, we’re here to help.

Ready to go 10x? Let’s talk.
Visit www.multifamilyaccounting.com to learn how Ascent can support your next big move.

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