I received an early Christmas gift of sitting down with Charlie Young, one of the founding partners of Madera Residential. Madera is an investment company based in Lubbock, TX that acquires assets in DFW and Houston.
Madera owns 48 properties worth $1.3 bn and manages ~15,000 units. Charlie focuses his time on acquisitions and capital raising.
Below are some highlights from our conversation
· How Charlie decided to move from property management to acquiring deals
· Charlie’s investment criteria and acquisition strategy
· His guiding principles with brokers (“do the right thing”), tenants (“golden rule”) and investors (“put them first”)
· Fundamental views on DFW and Houston – underwriting cap rates, rent growth and supply/demand balances
· Charlie’s deal killers – loan assumptions and flooding
· His plan to grow fee management in 2021 and how they leverage technology in their business
To get in touch with Charlie, please visit https://maderaresidential.com
To get in touch with Ryan, please visit www.lifechangingcapital.com