The Principals

ApartmentVestors managing member/sponsor is Cullor Asset Management, LLC.  Cullor Asset Management, LLC, is led by Gary Cullor, who has over 40 years experience in business and real estate including acquisition, management, development, construction, and property disposition.  In the last few years he has teamed with his son, Spencer, to take advantage of the current opportunities in commercial real estate by acquiring multifamily apartments with like-minded investors.

Investment Team Bios

Gary Cullor


Business operator and owner, Gary Cullor has become successful in many business sectors.  A graduate of the University of Kansas, Gary received degrees in civil engineering and business administration.  With over 40 years as an independent business operator and owner, he holds a proven track record of success in the business world.  

Gary’s successful businesses have included limestone quarries in Kansas and Missouri, ready-mix concrete, asphalt, and fertilizer businesses, as well as a manufacturing and residential construction company.  Gary has also owned and managed real estate operations and holdings, farming and cattle operations, warehousing, rental homes, apartment communities, commercial shopping centers, and a hotel.  

Aside from business management and real estate investing, Gary has served on boards, committees, and councils, dedicating his time to various associations.  He has served on the Southeast Kansas Economic Council and has also served as a Trade Mission Representative for the state of Kansas for the countries of Kenya, Sudan, South Africa, Australia, and New Zealand.  Furthermore, he has served as President of the Kansas Ready Mix Association and of the Kansas Limestone Association.  He also served in the Kansas National Guard and obtained the rank of Captain and Commander of an Engineering Company.

Locally, Gary has provided support as President of Rotary, he’s a former President of the Fort Scott Chamber of Commerce and has dedicated 16 years as a member of the Fort Scott, Kansas, school board.  Gary is the father of five children, has three grandchildren, and has been married to his wife Sally for over 45 years.

Spencer Cullor


Real estate investor, business owner, author, speaker, and current Director of Commercial Acquisitions, Spencer Cullor has developed an extensive background in commercial, multifamily, and residential real estate.  

A graduate of the University of Kansas, Spencer received his Bachelor of Science degree in business administration with an emphasis in marketing and finance.  With over twelve years’ experience in real estate, including asset management for multifamily, retail, and office properties, he has developed skills in acquisitions, financial analysis and underwriting, due diligence, asset management, marketing, property management, raising private money, construction, and investor relations.

Spencer has been a featured speaker on the topic of multifamily investing for several business organizations including the Mid-America Real Estate Investment Group.  Spencer has also been a featured author in publications such as Business Insiders, BiggerPockets, and Multifamily Insiders to name a few.  

Spencer holds expertise in commercial, multifamily, and residential real estate.  He also spent several years as a home builder.  Using his skills in project management, raising private money, financial analysis, budgeting and accounting, construction, and contract management, he has successfully owned and managed multiple framing crews, has overseen numerous rehabilitations and flips of residential homes, multifamily properties, and started his own property management company specializing in multifamily and commercial properties.

In his first multifamily investment he put together a private investment group to purchase, rehab, and improve the management to increase the value by over 75% and create cash flow of over $8,000 per month in under 18 months.  He has created over $1.8M in equity to multifamily investments in his first three years.

Aside from real estate, Spencer has worked in businesses of all sizes, from startups to Fortune 100s.  Working in the technology industry for software and telecommunication companies, Spencer used his marketing, sales, and business development skills to grow a healthcare business from $2M to $20M in sales in just three years.