GI345: From $1B in Bank Loans to 5,300 Apartments with Sam Morris скачать в хорошем качестве

GI345: From $1B in Bank Loans to 5,300 Apartments with Sam Morris

How do professional multifamily investors really think about risk, scale, and returns? In this episode of the Global Investors Podcast, host Charles Carillo sits down with Sam Morris, Partner at Lone Star Capital, to break down what it actually takes to operate large-scale multifamily investments. Sam shares how he went from underwriting over $1B in bank loans to overseeing a 5,300+ unit apartment portfolio, including the hard lessons learned from disasters, insurance claims, property taxes, preferred equity, and vertical integration. This conversation goes far beyond surface-level investing advice. You’ll hear how institutional operators evaluate deals, why management matters more than spreadsheets, and how real-world challenges like hurricanes, rising taxes, and capital stack complexity can make—or break—a deal. If you’re a passive investor, active syndicator, or serious about understanding how large multifamily deals actually work, this episode delivers real insight from decades of experience. 🔍 What You’ll Learn in This Episode: How early underwriting experience creates long-term investing advantages Why large multifamily deals are often easier to manage than small ones Lessons from a hurricane that destroyed Sam’s first apartment deal How insurance, CapEx, and refinancing can reshape returns Why Texas taxes and insurance require specialized strategies The real benefits of vertical integration in multifamily How syndication fees actually work (and what to watch out for) Preferred equity explained—and why investors need to understand it The single biggest mistake investors make: underestimating management 📘 Learn More About Sam Morris Here: LSCRE - https://www.lscre.com/ 00:00 Introduction to Sam Morris 01:02 From Corporate Banking to Multifamily Investing 02:52 Why Sam Skipped Small Deals and Went Straight to Scale 04:18 The Hurricane That Nearly Destroyed His First Deal 05:33 Insurance, Contractors, and Crisis Management Lessons 06:45 Rebuilding, Rent Growth, and Refinancing the Property 09:30 Lone Star Capital’s Investment Strategy in Texas 11:08 Supply, Demand, and the Texas Multifamily Market 13:15 Insurance and Property Tax Challenges Explained 15:43 Using Tax Abatement Strategies in Multifamily 18:51 Why Lone Star Is Fully Vertically Integrated 21:19 How Faster Unit Turns Increase NOI 23:42 Syndication Fees: What Investors Should Understand 26:40 The Real Risk GPs Take Before Raising Investor Capital 29:24 Preferred Equity Explained for Passive Investors 34:04 The #1 Mistake Investors Make in Multifamily 36:17 How to Learn More About Lone Star Capital 🔔 Subscribe for weekly insights on real estate investing, multifamily strategy, and global markets. 💬 Comment below: What part of multifamily investing do you want explained next—fees, underwriting, or capital stacks? 🎧 Listen on Apple Podcasts: https://podcasts.apple.com/us/podcast... 📺 Watch More Episodes:    • Global Investors - Investing in US Real Es...   👉 Connect with the Global Investors Show, Charles Carillo and Harborside Partners: ◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com ◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/ #MultifamilyInvesting #RealEstateSyndication #ApartmentInvesting #PassiveInvesting #CommercialRealEstate #GlobalInvestorsPodcast #CharlesCarillo