How This Firefighter Became a Real Estate Investor and Builder
Show summary
In this episode of the Real Estate Pros podcast, Kristen Knapp interviews Erik Lopez of JNT Construction, who shares his journey from being a firefighter to becoming a construction expert. Erik discusses the multifaceted approach of JNT Construction, which operates in various states and focuses on both construction and investment in multifamily developments. He emphasizes the importance of transparency with investors, navigating unexpected challenges, and the significance of choosing the right contractor. Erik also expresses optimism about the multifamily market and his desire to give back by coaching new investors.
Key takeaways
- Do thorough capex due diligence before investing: a single failing boiler in a 30-40 unit building can be a huge unplanned expense if investors rush into a deal.
- When vetting a contractor, Google the company, check reviews and ratings, verify licenses, insurance and bonds, confirm how long they've been in business, and ask for a deck or portfolio of past work.
- JNT Construction operates in about 18 states and is licensed in each, with crews able to fly out from hubs like Dallas or Houston to stay on-site for the remainder of a project.
- JNT is part of Elevate, which owns about 7,000 units; this investor-side experience shapes how JNT evaluates capex and repair costs for clients, not just as contractors.
- Climate differences directly affect project timelines and material performance (e.g., paint); teams need to know how to pivot quickly, such as racing to finish work in South Dakota before snow arrives.
- Being transparent with investors and willing to flag red flags protects both the contractor and the client, even if it means turning down or changing a project.
- The multifamily market showed renewed signs of life starting Q3, with roughly a 30% surge reported in June, driven by reduced new construction and increased tenant lease-ups and occupancy in existing stabilized and workforce housing properties.
In this episode
- 02:01Introduction to Erik Lopez and JNT Construction
- 02:15From firefighter to construction: how Erik got started
- 03:16Overview of JNT Construction's work across 18 states
- 05:45Investing through Elevate: 7,000 units and the investor mindset
- 06:45Common mistakes investors make with capex numbers
- 07:15Handling unexpected surprises and shifting project expectations
- 09:19What to look for when choosing a contractor
- 10:46Managing construction across different states, codes, and climates
- 13:01Walnut Creek in Houston: a proud project transformation
- 14:16Optimism about the multifamily market in Q3
- 16:05What's next for Erik and JNT, including coaching
About Erik Lopez
Erik Lopez is with JNT Construction, a commercial construction company operating in about 18 states that does multifamily development, capex work, renovations, and retail space builds. He is a former firefighter who got into construction about eight years ago after getting injured and becoming curious about development projects near where he lived in Medford, Oregon. JNT is part of Elevate, an investment company that owns about 7,000 units, and Erik also goes by "Erik the Investor" on Instagram.
Listen to the audio
“Investors kind of getting desperate or I'm impatient and trying to really jump on an investment and not really doing their numbers, especially their capex numbers, which is very important, right? Because if a boiler is about to go out and that boiler is for like, let's say 30, 40 units, that could be a huge, huge expense that they weren't prepared for it.”
Erik Lopez
“Not only are you transforming these buildings, but you're transforming lives as well.”
Erik Lopez
“We have robots, so it doesn't matter. And I'm just kidding.”
Erik Lopez
Questions answered in this episode
What is the most common mistake investors make with capex when buying multifamily properties?
Erik Lopez says investors often get impatient or desperate to close a deal and skip doing thorough capex numbers. He gives the example of a boiler nearing failure in a 30-40 unit building, which can be a huge unplanned expense if not caught ahead of time.
What should investors look for when choosing a contractor?
Erik recommends doing due diligence by Googling the company, checking reviews and ratings, seeing where they rank on the first page of search results, confirming their licenses, insurance, and bonds, how long they've been in business, and asking if they can provide a portfolio or deck of past projects.
How does JNT Construction handle projects in different states with different climates?
Erik says their team is educated on climate and weather differences state to state, citing a South Dakota project where they had to pivot quickly before snow hit, since weather affects timelines and things like paint application. They also have crews that can fly out from hubs like Dallas or Houston to be on-site for the remainder of a project.
What is JNT Construction's relationship to the Elevate investment company?
Erik explains that JNT is part of Elevate, which has been around about eight years and owns roughly 7,000 units. Because of this connection, JNT's team operates not just as contractors but as investors, making sure capex and repair numbers make sense for the investment.
Is Erik Lopez optimistic about the multifamily market right now?
Yes. He says that starting in Q3, the multifamily market is showing renewed signs of life, with real estate fundamentals quietly gaining traction in stabilized markets and workforce housing segments. He cites a roughly 30% surge last month (June) and notes that decreased new construction has led to increased tenant lease-ups and occupancy in existing properties.
Resources and links
- Erik Lopez on Instagram
- Erik Lopez on LinkedIn
- Erik Lopez on Facebook
- Erik Lopez’s Website
- Erik Lopez’s Phone number: (469)734-1434
Full transcript
Erik Lopez (00:00)
Investors kind of getting desperate or I’m impatient and trying to really jump on an investment and not really doing their numbers, especially their capex numbers, which is very important, right? Because if a boiler is about to go out and that boiler is for like, let’s say 30, 40 units, that could be a huge, huge expense that they weren’t prepared for it.
Kristen Knapp (02:01)
Welcome back to the Real Estate Pros podcast. I’m Kristen Knapp and I’m here with Erik Lopez of JNT Construction. So we’re going to get all into construction, renovations, all of that, a little investing as well. Thank you for being here, Erik.
Erik Lopez (02:12)
Of course, I’m glad to be here.
Kristen Knapp (02:13)
So what got you into this line of work?
Erik Lopez (02:15)
What got me into construction? I used to be a firefighter and I got hurt during a mission, I guess I can call it. And I started having back problems and I started looking at a lot of developments going around my area where I used to live in Medford, Oregon. And I was curious about it. So I started just stopping by literally just being nosy and asking questions like, are you guys doing here? Like, how do you do this? Like, how are you developing all this? And I just got lucky that one of those stops that I did, the actual developer was there, the owner, the investor was there. So I just started asking him questions and he’s like, who are you? I was like, I’m Erik, I’m just a firefighter, but I’m so curious with everything you’re doing. I want to know how you’re doing it.
Kristen Knapp (02:53)
Yeah.
you
Yeah.
Erik Lopez (03:02)
This was about almost eight years ago and I started, I just got into deep into construction. I started learning all, ends of it.
Kristen Knapp (03:11)
That’s amazing. I mean, very serendipitous that you talk to somebody who could really help you get into it.
Erik Lopez (03:16)
Yeah.
Kristen Knapp (03:16)
And so tell us more about ⁓ JNT Construction. What market are you guys in? What kind of work are you guys doing?
Erik Lopez (03:23)
Yeah, of course. So, J &T Construction, we’re a commercial construction company. So, we do a lot of multifamily developments, capex work, renovations, and we also just got into retail spaces as well. So, we have a whole dedicated crew for commercial retail spaces developing, you know, like pizza huts, our restaurants.
So anything that has to be released, right, or just pending improvements as well. also operate in about 18 different states. We’re licensed in about 18 different states, I believe. And we do a lot of work, especially in the South Bell State.
Kristen Knapp (03:59)
Wow.
Wow, that’s amazing. That’s a lot to keep track of.
Erik Lopez (04:05)
It could get overwhelming for sure. But we have a great team, we have a great crew and they’re doing amazing.
Kristen Knapp (04:07)
Yeah.
How do you go about finding the right people for your organization when it’s spread out among so many states?
Erik Lopez (04:18)
I want to say that…
The CEO, George, he does a real good job of finding people who can align with his values and the company’s values and find those people who are willing to be
a team player, right? And be able to take on different roles when asked, be able to do things without being asked at the same time.
Kristen Knapp (05:22)
Yeah.
Love
Erik Lopez (05:31)
And
Kristen Knapp (05:31)
that.
Erik Lopez (05:33)
so far, it’s been amazing. We have a solid team right now.
Kristen Knapp (05:37)
That’s great. And you guys are unique because you know both sides of it. So you’re investors as well as in construction. So you can kind of see it from both angles.
Erik Lopez (05:45)
Correct. ⁓
Kristen Knapp (05:46)
When did you get into investing?
Erik Lopez (05:47)
So, so J &T is part of Elevate and Elevate has been around for eight years now or so. So they own about 7,000 units. And now everybody in the company has really switched their mindset thanks to them on how to go about the investment view of the multifamily complexes.
So instead of just going out there and operating like construction people, we operate as investors as well. Cause we want to see that, we want to see that numbers are making sense for the investor, the capex makes sense. Whatever repairs they have coming up makes sense for the right amount, for the right person, with the right crew, for the right investors.
Kristen Knapp (06:37)
Yeah, that makes sense. And what type of mistakes do you see investors make in terms of construction and renovations or maybe a misconception that they might have?
Erik Lopez (06:45)
Some stuff that I’ve seen is
investors kind of getting desperate or.
or I’m impatient and trying to really jump on an investment and not really doing their numbers, especially their capex numbers, which is very important, right? Because if a boiler is about to go out and that boiler is for like, let’s say 30, 40 units, that could be a huge, huge expense that they weren’t prepared for it.
Kristen Knapp (07:15)
Right. Yeah. Yeah, I think your industry is all about approaching the unexpected. You guys have a lot of stuff that might shift midway. How do you handle that? How do you handle all the surprises?
Erik Lopez (07:26)
So we handle that because again, thanks to the investment side of things that we’ve experienced ourselves. So we try to now minimize those surprises to our investors who are just starting to invest in new apartments. sometimes we even have to educate them, be like, just so you know, like this is going to happen. This might happen. We suggest you get ready for it.
And that really sets us apart with a lot of investors because we’re happy to do that for them. We’re happy to if we see something on their report, their CapEx report or their T12s and there’s something missing, we tell them, hey, you might want to ask about this and see if they can give you some more information or we just have them get prepared for it.
Kristen Knapp (08:15)
Yeah.
I can see how that’s a huge part of it is making people just, yeah, aware of the cost and all of that. What about their expectations in terms of, so what if like you’re mid project and someone just changes their mind of what they want? How do you handle those shifting expectations on the actual job?
Erik Lopez (08:36)
So it has happened. It has happened to us. And what we do, we pivot. Basically, we pivot with the investor, whatever that change might be. We focus on what’s going to benefit the investor and the investment and try and get as creative as possible to make it happen.
Kristen Knapp (08:36)
Yeah, I bet.
Absolutely.
Erik Lopez (08:56)
And if for
some reason it just really doesn’t work out, then we’re completely comfortable to tell the investor, know what, this might not work out. We suggest we do something else or we suggest we go another route.
Kristen Knapp (09:11)
Yeah, well yeah, at end of the day, it’s a two-way relationship and you you have to make sure that you and your team are taken care of as well.
Erik Lopez (09:19)
Correct.
Kristen Knapp (09:19)
Yeah. And what should people look for when they’re choosing a contractor?
Erik Lopez (09:23)
That’s a good question. I get asked this a lot. So I definitely recommend people to do their due diligence with construction companies. First thing you could do is Google. Right. That’s the most common thing. Google companies look at the reviews, look at the ratings. Where in the first Google page are they? Where are they from? Where are they located? What kind of licenses do they have? What kind of insurance, bonds?
Kristen Knapp (09:44)
Hmm.
Erik Lopez (09:48)
How long they’ve been in business. Do they have a deck they can provide to you and show you what they’ve done in the last years?
Kristen Knapp (09:56)
Right.
Erik Lopez (09:57)
So definitely a lot of digging into the construction companies, making sure that they’re right fit for you.
Kristen Knapp (10:03)
Yeah, and I would imagine the ones that are able to be transparent and the ones that are able to communicate and work with you are probably the best bet.
Erik Lopez (10:44)
Yes, correct. Agreed.
Kristen Knapp (10:46)
And so when you’re doing construction in so many different states, how do you handle, you know, the different codes and all the labor and even just the climate? I know Texas gets hot and I know you guys do a lot of stuff in Texas. Like how, what does that even look like from state to state? Is your approach a little different?
Erik Lopez (11:03)
We have robots, so doesn’t matter. And I’m just kidding. No, that’s when our team comes into play. And they’re just amazing at what they do. So they’re very educated when it comes to climate changes, weather. mean, we have projects going on in South Dakota right now, which is completely different weather, right? And if it doesn’t get done right now, then we have to pivot because then it starts snowing over there a lot sooner than.
Kristen Knapp (11:12)
Yeah.
Yeah.
Erik Lopez (11:28)
other states, right? So it’s just having those, having that knowledge on how to pivot once it starts snowing or the temperatures start going down because then it affects the paint, affects this, affects that. And just knowing that the timeline of how the projects should go based on the climate, wherever it is. Also, we have crews that are able to fly out.
Kristen Knapp (11:29)
Amen.
Yeah.
Erik Lopez (11:51)
from Dallas or from Houston and I can be at the site for the remaining of the project.
Kristen Knapp (11:57)
Yeah, it sounds like you guys are very organized.
Erik Lopez (12:00)
We try. We try. We learn a lot.
Kristen Knapp (12:01)
Yeah.
Yeah. Well, what’s, you know, on the topic of learning, what’s something that you’ve learned maybe early on in your career that you wish you knew from the beginning?
Erik Lopez (12:12)
Good question. Wow. I want to say, I want to say just having that transparent transparency with your investors, being able to, like I said, feel comfortable when you see a red flag. And just just because you want the job, you want the profits, you say yes to it, knowing that
Kristen Knapp (12:14)
haha
Mm-hmm.
Erik Lopez (12:32)
there are some red flags that you need to watch out
Kristen Knapp (12:34)
right?
Erik Lopez (12:35)
And now having the comfort to say something about it, not only are you protecting you, but you’re protecting your client as well. And that has been huge.
Kristen Knapp (12:43)
Yeah,
100%. I think it’s a good point that people are kind of focused on, especially early in their career. They want to get the job or they want to get the money and you do have to take a step back and really analyze what you’re getting into.
Erik Lopez (12:57)
Correct.
Kristen Knapp (12:58)
And what’s a project that you’re especially proud of?
Erik Lopez (13:01)
One that we’re one that I’m proud of will have to be Walnut Creek in Houston, Texas. That’s our sister company owns that investment and it went from a. Horrible class C class D looking apartment complex to like a class B plus looking apartment. And it looks amazing and.
Kristen Knapp (13:07)
Mm.
Erik Lopez (13:21)
It’s been a while since that happened, so I think we do need to go back and retouch some stuff. But that’s been one of the best transformations that I’ve seen, for sure.
Kristen Knapp (13:26)
Yeah.
That’s amazing. It must feel really gratifying to completely transform a space.
Erik Lopez (13:36)
Yes, I want to say that’s like the… That’s what like really drives me the most. Just the transformations.
Kristen Knapp (13:41)
Yeah,
yeah. And you’re making such a positive impact as well.
Erik Lopez (13:44)
correct. And just providing beautiful looking units for tenants. So not only are you transforming these buildings, but you’re transforming lives as well.
Kristen Knapp (13:49)
Yeah.
Right. Absolutely. Better quality of living.
And so what would you say, I know that you’re optimistic about ⁓ the market and specifically multifamily. I would love for you to talk a little bit more about that.
I said, know that you’re optimistic in terms of just the market, particularly with multifamily units. I would just love to hear more about that, the positive shift you think might happen.
Erik Lopez (14:16)
Yeah, mean, I mean, starting this Q3, I want to say multifamily market is starting to show like renewed signs of life. prices are still hard to kind of pencil in, like the real estate fundamentals are quietly gaining traction. And particularly in like stabilized markets.
Kristen Knapp (14:35)
Mm-hmm.
Erik Lopez (14:38)
and workforce housing segments, I want to say it’s taking a positive turn. I mean, it’s surged. It surged about, I think last time I heard, like 30 % in June, last month. So that’s a good sign, just there alone. And with the decrease of construction, there’s been an increase
Kristen Knapp (14:46)
Yeah.
Erik Lopez (15:04)
and tenant
lease-ups because now there’s more tenants having to go to this existing investment so now their occupancy is growing. So in a way it’s a good thing for both sides.
Kristen Knapp (15:48)
Yeah.
Hmm.
Yeah. Well, that’s amazing. I love to hear, you know, optimistic, positive news about the market for sure. ⁓ and then what’s next for you and what’s, yeah, what’s next for you and what’s next for JNT.
Erik Lopez (16:05)
Yeah, it’s about time.
I’m gonna say for JNT what’s next is to
get a bigger crew so we can service more investors, more markets, more states, and hopefully, not hopefully, but be one of the best construction development companies out there for all multifamily and commercial spaces. For me personally, what’s next?
Kristen Knapp (16:31)
Yeah.
Erik Lopez (16:35)
Coaching. want to say coaching, doing a lot more podcasts like this, ⁓ networking events, seminars. I’m starting to realize that I really like giving back and focusing on people, focusing on the new investors who are coming into the new world. And just like myself, I used to be brand new and I had a lot to learn. And I wish I had someone that that would have told me what not to do wrong.
Kristen Knapp (16:37)
⁓ thanks.
Erik Lopez (17:00)
And I want to be that someone for somebody else to teach them.
Kristen Knapp (17:00)
Yeah.
Yeah. And it’s going back to your firefighter roots. I can tell you just really love helping people.
Erik Lopez (17:08)
Yes, yes, thank you. Thank you
I had to do a lot of self development and that’s how I realized that that was my gift. My gift is helping people. And I didn’t see that at first, but you’re totally right. And I appreciate that comment. Thank you so much.
Kristen Knapp (17:18)
Yeah.
Yeah, amazing. Well, how can people find you?
Erik Lopez (17:27)
Yes, they can find us at jntconstruction.com or they can find me at Erik the Investor on Instagram or they could just call me on my phone number. I have no problem without my phone number. It’s 469-734-1434. They can chat with me anytime, any day.
Kristen Knapp (17:47)
Perfect, we got the digits.
Amazing. Well, I really encourage everyone to reach out to Erik. He has a lot of knowledge about the industry and it’s been so wonderful talking to you.
Erik Lopez (17:57)
Likewise, thank you so much for this amazing experience. You have a beautiful smile, bright face, and you’re making this very easy and very comfortable. Thank you.
Kristen Knapp (18:07)
I’m so glad. I’m so glad. Thank you. Awesome. Well, thank you everyone for listening and we will see you back next time. Thanks.
Erik Lopez (18:14)
Thank you.
