Join an active community of RE investors here: https://linktr.ee/gabepetersen
🎙️ In this episode, host Gabe Petersen sits down with Sam Morris, Partner at Lone Star Capital Real Estate (LSCRE), a Texas multifamily firm managing nearly 6,000 apartment units. If you're ready to move from single family into large scale apartment investing, this episode is packed with actionable strategies.
🏦 FROM COMMERCIAL LENDER TO MULTIFAMILY OPERATOR
Sam started his real estate career in 2001 underwriting commercial loans as a bank analyst, racking up 10,000 hours of underwriting reps before he ever bought a property. He explains how that lending background became the foundation for evaluating multifamily deals and why reading a rent roll is a lot like reading words once you know what to look for.
🌀 THE HURRICANE THAT BECAME HIS BEST EDUCATION
Sam's first big multifamily deal, a 100 unit complex purchased in 2007, went from nearly full occupancy to just 12% leased after a hurricane hit a month after closing. He shares the real world lessons on insurance, contractors, and landlord obligations that no underwriting model can teach, and why every investor eventually gets "punched in the mouth" by a deal that doesn't go as planned.
đź“Š UNDERWRITING MULTIFAMILY DEALS THE RIGHT WAY
Gabe and Sam dig into the mistakes most new apartment investors make, including underwriting aggressive rent growth in a market where supply is still outpacing demand. Sam shares why Lone Star Capital underwrites conservative rent growth in 2026 and instead focuses on NOI growth through ancillary income and expense optimization.
Want to learn more about our guest? Connect here:
YouTube: https://youtube.com/@sunsetcapital?si=FjrdtKsdNZFCSeSa
LinkedIn: https://www.linkedin.com/company/sunset-capital-tx?trk=blended-typeahead
Facebook: https://www.facebook.com/share/S54M39sokxEcEJLt/
Instagram: https://www.instagram.com/sunset_capital?igsh=MWtkZmRzcmlyOHlkbw==
Website: https://www.sunset-capital.com/
Want to learn more about the REI Club Podcast, how to invest with Gabe at Kaizen, or join our community of active real estate investors on Skool? Visit the podcast website at https://www.therealestateinvestingclub.com or click here: https://linktr.ee/gabepetersen
