Single Family Investor - Future Multi-Family Investor

[Sandy Morales]

Investment Info:

Single-family residence buy & hold investment.

My husband and I have a single rental in San Antonio (for 18 years now).  I also purchased two single family properties and a flip in 2020

Kept two single-family properties in 2020, became a Airbnb host for our flip (in San Antonio)  but sold it to my business partner. Since then, I wish to pivot to multi-family real estate investments.

What made you interested in investing in this type of deal?

I wanted to learn what it took to buy my own property, and manage the entire investment cycle then go from there. My is elderly now and currently has a 10 single family and small multi-family portfolio so I guess you say he inspired me to to follow his legacy and eventually retire with a comfortable sized REI portfolio like he did. I am also a a great REI student; the more I learn about REI's the more excited I get to becoming a better RE Investor.

How did you find this deal and how did you negotiate it?

I found two of my existing single-family properties vis pure networking relationships. It comes natural for me to do a whole bunch of networking face to face and remotely due to the fact that I am a CEO of a Human Resources Consulting and recruiting firm in San Antonio, TX.  I thrive to meet people all day long which makes me whole and since I love helping people.   

How did you finance this deal?

HELOC , savings and partnerships

How did you add value to the deal?

All I had to do was beautify each a property with a small and reasonable budget; there was nothing to it. Since I had a hand or two in a major and minor flips  in between, I was able to identify what all needed to be done to attract renters and buyers for each of my properties.

What was the outcome?

It's been a great experience. I am getting good enough cash flow due to the fact I have been able to rent each home above average on the rental market rates. I have enjoyed the experience so far! I am still learning a lot !

Lessons learned? Challenges?

Getting reliable and affordable handyman to take care of repairs.