Meet Brad Sumrok: The greedy ‘Apartment King’ owner of 7,700 rental properties – but many Americans who followed his advice now find themselves in trouble [Video]

08:42 EDT 18 Aug 2024, updated 08:42 EDT 18 Aug 2024

Brad Sumrok, aka the ‘Apartment King’, is all tan, smiles, and white teeth as he launches into a typical sales pitch.

At one of his glitzy networking events in Dallas, he claims to have ‘created over 600 millionaires’ by coaching everyone from doctors to warehouse workers in how to invest in commercial real estate.

Never, he adds, has he ‘lost anyone’s money’.

Sumrok, a 57-year-old salesman from Texas, has been credited with driving the business known as apartment syndication to new heights, creating a generation of landlords who now own tens of thousands of apartment buildings worth billions of dollars.

He and his ilk have been blamed for driving property prices out of reach of first time buyers. But now his bubble may be about to burst.