Investing in multifamily is a great way to diversify your portfolio and profit as investors seek to grow long-term wealth. Today’s guest is Arn Cenedella, founder of Spark Investment Group, and a real estate expert with more than four decades of experience, including 35 years as a realtor navigating the unique real estate landscape in Silicon Valley. During that time, Arn invested in real estate ranging from single family homes and fix-and-flips to land subdivisions, condominium conversions, and commercial multifamily properties. Through these experiences, he developed a passion for helping others achieve their own financial freedom by investing in multifamily real estate syndications. Through Spark Investment Group, Arn is putting his decades of real estate expertise to work for his clients, helping them reach their goals and attain the lives they’ve always wanted to live. In this episode, Arn shares some of the lessons he has learned in his 42-year real estate career, how he has diversified his investments, and how he educates himself in different markets and asset classes, and why he is shifting his portfolio from single-family to multifamily. We also hear about tools he can’t do without, his biggest mistake, and what he hopes for the future. Tune in today!
Key Points From This Episode:
- Arn provides listeners with a brief introduction of himself and his real estate practice.
- The biggest lesson Arn has learned in 42 years in real estate – it’s a long-term proposition.
- How Arn’s wide, firsthand experience helps him with passive investments or evaluating deals.
- The education needed to get started in real estate – Arn believes that there is no substitute for practical, hands-on experience.
- Arn’s criteria: aim for long drive base hits, capital reservation over growth, be less aggressive.
- How economic cycles influence Arn’s approach and how he suggests others adjust their expectations for the coming downturn.
- How Arn has diversified his investments, both in property class type and geographically.
- The research Arn does in each of the markets he invests in to educate himself on the area.
- Arn explains the thought process behind shifting his portfolio from single family to multifamily.
- An asset class that Arn might be interested in shifting to is self-storage, not mobile homes.
- The real estate investing tools that Arn couldn’t do without are his iPhone and his iPad.
- Arn’s biggest mistake in real estate investing was not checking zoning on a renovation.
- Arn is excited about moving into multifamily, helping others, and passing the business down to his two sons.
Links Mentioned in Today’s Episode:
