WS1534: Scaling from Single-Family to Multifamily | Steven Gesis

When you think of a real estate business, single-family homes first come to mind. It is the most common asset class in the space and people are drawn to it especially when they are new in the industry. Today, we speak with Steven Gesis, co-founder of Smartland, and he talks about how they transitioned from having single-family rentals to investing in multifamily homes.

In this first episode of our three-part series with Steven, he talks about the successes he and Smartland had in the single-family rental (SFR) space. He then talks about the decision they made after scaling to transition to the multifamily space, how the asset class is a heavy value-add opportunity, and a lot more. Listen now and deep dive into SFR and multifamily today!

Key Points From This Episode: 

• Steven talks about his background and how he got into the real estate business.
• Steven shares that Smartland began with single-family homes then they transitioned into multifamily investing.
• Why having a scattered site is a tough marketplace to capture?
• How do Steven and his partner divide their responsibilities in the business?
• Steven elaborates on the single-family rental business Smartland used to own.
• How did Steven look at his business model as a strategic opportunity to build a bigger management company than just his own portfolio?
• How big was Steven’s staff when the business was in full speed and scattered sites, single-family rental?
• Steven discusses how they were able to purchase a single-family home then.
• Steven shares they participated in some crowdfunding to raise funds for their single-family rental business.
• Why did Steven and Smartland decide to transition to multifamily?

Tweetables:

“You know, we sought out those deals, we found what was tough to find. We did the tough things we did on our own against the lot of naysayers that said, ‘No, you can't do that. Oh, that's not a good business. Oh, that's not popular. Oh, that's different.’ You know, that's not something we do.”

“We are able to look at things globally and triangulate information from multiple views. And, I think that's really been a successful part of our journey, is that we're not necessarily singular in our one path.”

“The beautiful thing about SFR (single-family rental) is its ability, how agile you can be with it if you do have the scale.”

“At the end of the day, it does bo

VISIT OUR WEBSITE
https://lifebridgecapital.com/

Here are ways you can work with us here at Life Bridge Capital:
⚡️START INVESTING TODAY: If you think that real estate syndication may be right for you, contact us today to learn more about our current investment opportunities: https://lifebridgecapital.com/investwithlbc

⚡️Watch on YouTube: https://www.youtube.com/@TheRealEstateSyndicationShow

📝 JOIN THE DISCUSSION
https://www.facebook.com/groups/realestatesyndication

➡️ FOLLOW US
https://twitter.com/whitney_sewell
https://www.instagram.com/whitneysewell/
https://www.linkedin.com/in/whitney-sewell/

⭐ Be Our Guest!
We are continuously working hard to help our listeners with their journey to real estate syndication. If you think you can add value in any way to our listeners who are in commercial real estate, then we’d love to have you over.
Apply here: https://lifebridgecapital.com/join-our-podcast/