When it comes to entering a new industry and kick starting a business, managing back-office operations like bookkeeping, payroll and accounting can quickly become challenging and time consuming. Outsourcing to a team that can manage these functions streamlines processes, allowing clients to focus on developing their business and portfolio.  

Dallas-based husband-and-wife duo Candice and Corey Muldrow initially entered the real estate industry through single-family properties to make passive income and build a legacy for their future generations.

With their family and kids in mind, the couple searched for an industry and career path they could trust with their family’s future, leading them to real estate. "We wanted to grow wealth for our family through investment properties that later down the line we could retire on,” said Candice Muldrow.

After acquiring a few single-family properties, the couple realized how quickly business can scale in the field of multifamily. In 2017, the Muldrows founded M Group Capital, a real estate investment company that specializes in the acquisition and asset management of multifamily properties throughout Texas, and acquired their first 18-unit property.

As M Group Capital began to scale, expanding its portfolio to 100 units, the Muldrow’s self-managed back-office functions also grew. “Coming from the single-family industry, we were accustomed to a third-party management team handling certain operations,” Candice said. “As we crossed over to multifamily, we became a self-managed business and quickly realized we needed a reliable way to streamline operations so we could continue taking on more units.”

The couple turned to other multifamily syndicators and owners for advice on how to manage operations while simultaneously developing other areas of its business. “We asked around and were immediately recommended to look into Ascent MultifamilyAccounting, as they were the key component in helping others scale internally and externally,” said Candice.

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M Group Capital partnered with Ascent to handle its daily operations, including accounting, payroll, financial reporting, paying bills and other services. Through their work with our teams, the company was not only able to utilize its time more efficiently, but also provide a higher return to its investors, acquire more properties and develop internally.  

“After we launched our back office with Ascent, we immediately began to see results,” she said. “Our rapid growth is due in part to Ascent’s outsourced accounting services. They handle all the accounting, and now we can focus on our team and make sure they have everything they need to succeed, which maximizes our overall returns for our investors.”

The firm started with 100 units when it began onboarding with Ascent and has now scaled to 1,000 units in the Dallas, Fort Worth and Arlington areas. The couple credits Ascent’s services to helping them develop their business enough to both retire from their corporate jobs and focus on their growing portfolio.

“We are excited to see how we can keep transforming our business as Ascent helps us develop and manage a crucial part of our company,” said Candice. “Not only isit great to have a second set of eyes tracking financials to focus on our bottom line, but they also help us understand the numbers driving our business to better define our goals.” 

M GroupCapital’s growth has been not only been accelerated since outsourcing withAscent, but it has also led them to expand into new areas and skills. “Ascent challenges our team to think outside the box, explore new areas and expand our network,” said Candice. “The Ascent team serves as a versatile resource, connecting us with key industry professionals, helping us build our reputation, bringing in new business and so much more.”

At Ascent, our primary focus is helping businesses reach their goals, whether it be through lightening the workload to focus on other vital tasks, training employees for internal expansion or saving money and optimizing returns. Our services are tailored to best serve your business.

Keeping up with a fast-growing company and new industry can be challenging, which is why we serve as a reputable resource for up-and-coming developers and investors to succeed in the industry. For more information on outsourcing your back office and scaling your operations with Ascent’s help, call me at 702-467-0789 or email me at mike@ascentmfa.com.

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