Ep. 040: How Gold Hawk Capital Navigates Risk, Returns, and Relationships
In a recent conversation with Dustin, GoldHawk Capital leaders Elijah Brown, Managing Partner, and Melissa Day, VP of Investor Relations, shared an inside look at how they approach multifamily investing in today’s complex market. Their discussion offered clear insight into the firm’s disciplined strategy, relationship-driven philosophy, and vision for long-term growth.
A Partnership Built on Complementary Strengths
Elijah Brown and Melissa Day bring distinct yet complementary skill sets to GoldHawk Capital. Elijah oversees investment strategy and deal analysis. His journey began as a finance-curious college student who opted out of the traditional Wall Street path, choosing instead to build a career in real estate. After completing early deals with friends and family and gaining experience at a large REIT, Elijah honed his focus on underwriting, capital raising, and strategic deal selection—leaving day-to-day property management to seasoned operators.
Melissa Day’s background spans entrepreneurship, residential development, and investor relations. She gravitated toward the people-centric side of the business, where communication and trust are paramount. At GoldHawk, she leads investor relations with an emphasis on clarity, transparency, and education—qualities that have become hallmarks of the firm’s reputation.
Together, Elijah and Melissa are intentionally selective, sharing only a small fraction of the deals they review with their investor network.
The GoldHawk Investment Philosophy
GoldHawk Capital operates with a strict set of investment criteria, beginning with operator experience. Elijah is clear on this point: successful outcomes depend heavily on the sponsor’s track record. The firm prioritizes operators who have completed at least five full-cycle exits, believing that experienced leadership can navigate challenges that derail less seasoned teams.
Cash flow is another non-negotiable. In an environment shaped by rising interest rates and tighter capital markets, GoldHawk avoids deals that rely on speculative growth or short-term, variable-rate debt. This shift reflects broader lessons learned across the market and underscores the firm’s conservative approach to risk.
Markets, Assets, and Risk Management
Geographically, GoldHawk favors Sunbelt and business-friendly states for its in-house investments, while its family-office partners may pursue opportunities in select primary and secondary markets nationwide. Elijah also highlighted regulatory risk as a key consideration, noting that markets such as California, the Pacific Northwest, New York, and New Jersey require either significantly higher returns or heightened caution.
Asset age is another important filter. Older properties—particularly those built in the 1960s and 1970s—can carry elevated maintenance, insurance, and capital expenditure risks, making thorough diligence essential.
Investor Relations Built on Trust
As VP of Investor Relations, Melissa Day spends much of her time addressing investor questions, particularly around risk. Her approach is candid: all investments carry risk, but disciplined underwriting, conservative structures, and consistent communication help mitigate it.
Melissa’s experience guiding investors through uncertain periods, including the COVID-19 pandemic, reinforced the importance of transparency. Keeping investors informed—even when conditions are challenging—builds long-term trust and credibility.
Looking Ahead: Growth and Innovation
GoldHawk Capital’s vision continues to evolve. In the near term, the team plans to close three to four direct investments and two to three equity placement transactions, connecting institutional capital with experienced sponsors. Longer term, Elijah and Melissa envision GoldHawk becoming a boutique real estate investment bank—offering capital placement, advisory services, and potentially a discretionary fund-of-funds designed for greater flexibility.
Final Takeaways
The conversation closed with practical advice. Melissa shared guiding principles she lives by: “You miss 100% of the shots you don’t take,” and “The answer is always no if you don’t ask.” Elijah echoed a more action-oriented mindset: at some point, investors must stop over-researching and start executing—real learning happens through experience.
GoldHawk Capital’s approach blends discipline, experience, and genuine human connection—qualities that continue to resonate with investors seeking thoughtful, long-term partners in multifamily real estate.
