My transition from SFR rentals to Multifamily Investing

[Arn Cenedella]

One of my core values is that my words match my actions.

In street vernacular, one could phrase this as “practice what you preach” or “put your money where your mouth is” or “if you talk the talk, you need to walk the walk”.

I have invested in single family homes and smaller 2 to 4 unit properties since 1980 - forty years - a lifetime - and have done well with these investments.

This year as COVID hit America, I had a conversation with a young investor buddy of mine about Covid’s impact on rent, the conversation led to a podcast recommendation about Covid impact on multifamily investing.

The light bulb went off - in TV talk show language, one could say I had an epiphany.

And my journey and transition to multifamily investing started. I know I am a little slow to catch on, but hey better late than never. 😀

From that point on, I sold a couple of my single family rentals and have now invested in 6 multifamily syndications as an LP and am in the process of completing my first multifamily syndication as a GP.

See for me.......before I could ask people to invest with me as a GP, I had to first invest as an LP. I had to walk the walk before I could talk the talk. I couldn’t in good conscience ask people to do something I had not done.

In a short time, I have created a diversified portfolio of MF investments in some of the nation’s best markets - Charlotte, Greenville SC , Columbia SC, Boise, Colorado Springs, and Augusta GA. These investments are spread across A B and C asset classes. So I have geographic diversity as well as Apartment Class diversity.

I now have invested in over 1000 units.

So I would encourage smaller mom and pop investors like I was or busy W2 professionals who know investing in real estate is a good thing but don’t have the time or knowledge to invest - educate yourself about passive MF syndication investments, see if they are a good fit for you and if so, create a plan and execute it.