• John Casmon

Key Metrics for Multifamily Investments with Devin Elder, Episode 60


A native of San Antonio, Texas, Devin Elder was inspired to become an entrepreneur after observing his business-minded brother. Before fulfilling that dream, he started a corporate career in a handful of small tech companies in San Antonio as a salesperson. Those roles provided invaluable sales skills, which helped with his real estate investments. After some insightful reading, he realized the need to create passive income which led him to the world of real estate. He founded DJE Texas Management Group which now consists of a portfolio of 670 units. On this episode, he breaks down the San Antonio market and shares key metrics to consider in multifamily investments, transitioning from single-family to multifamily successfully, and leveraging networks.

Key Market Insights

  • A San Antonio, Texas native

  • Worked in various small tech companies as a salesperson

  • Developed a passion for entrepreneurship from observing his brother

  • Realized the importance of passive income after reading The 4-Hour Workweek and Rich Dad Poor Dad

  • Purchased his first investment property in 2012 in San Antonio, which is a single family rental on the Southeast side of town

  • Started raising capital for single-family projects, then transitioned over to multifamily which was his end goal

  • Bought a 6-unit property to kickoff his multifamily venture, which he has snowballed into a portfolio of 670 units

  • Win single-family investors to multifamily by building relationships and educating investors well

  • Key tip: Leverage someone else’s credibility when first starting out (property manager, mentor, contractor, etc.)

  • 3 Key Metrics in Multifamily Investment: 1. Landlord-friendly, growth, affordability

  • San Antonio Market: Easy and simple eviction process, diversity in employers, average 67 people move a day, sustainable and continued development growth

  • Job diversity includes strong healthcare sector, military, rising software and tech companies

  • Hot Sub-markets: East and Southeast, Northwest Quadrants

  • Where to find opportunities: North Central Sector for 100+ unit B and C assets

Bull’s Eye Tips:

Winning Your Market: Focus on the team.

Tracking Marketing Changes: Surround yourself with the right people.

Daily Habit: Write every morning

Resources:

21 Hacks to Find the Best Sub-Markets

The 4-Hour Workweek by Tim Ferris

Rich Dad Poor Dad by Robert Kiyosaki

Book Recommendation:

Willpower Doesn’t Work by

Think and Grow Rich by Napoleon Hill

Digital Resources

Google Docs

Spanning - Data and Backup Solutions

Tweet This:

“Renovate, refinanced, rent and repeat”

“Bigger is better in multifamily.”

“Figure out a way to partner with others, then leverage their credibility”

Places to Grab a Bite:

Pearl Brewery

Connect with Devin:

Website: https://www.djetexas.com/