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#48 - Navigating Multifamily Real Estate: Insights, Strategies, and Trends for Tech Professionals with Sharon Riddle
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Join us in today’s episode as Sharon Riddle details her journey in multifamily property investment, offering valuable insights into passive investing, the critical role of strong operations, and the significance of finding a supportive community and mentor. She clarifies the distinction between asset and property management, highlighting the importance of clear communication with sponsors and encourages investors to utilize their existing skills. Sharon also addresses the challenges and trends in today's multifamily market, emphasizing the potential for creating multi-generational wealth through real estate. She incorporates Stoic philosophy into her approach, underscoring the importance of critical thinking, focusing on what you can control, and adapting strategies to evolving market conditions. Additionally, Sharon discusses the need to tailor investment strategies for family members, prioritize health and fitness, set enjoyable goals, and maintain a positive environment to remain consistent, accountable, and connected with mentors and peers.
Who is Sharon?
Over her career, Sharon Riddle has worked in companies, non-profit organizations, and government agencies. She has provided business solutions in the areas of software upgrades, business process analyses, and conducted best business practice research for over 30 years. Sharon began investing in Single Family real estate in 2005 with her business partner, Dan. She took a leadership role managing all facets of the business including property analysis, acquisition, rehab, property management, and resale of properties. Sharon, with her business partner Dan, started the transition to Multifamily in 2015 through initial education and investing passively in 18 properties in the Texas (DFW, Houston, San Antonio, and El Paso), Oklahoma (Oklahoma City), Colorado (Aurora, Brighton), Florida (Jacksonville), and Ohio (Columbus) totaling 3507 units to date. Served as a Key Principle. Completed sale of all SFR assets to become a lead sponsor in multifamily projects. Manage social media marketing for our Multifamily LLCs. Joined the Women’s Multifamily Mastermind in 2019. Personal mentoring student of Brad Sumrok since 2015 and Millionaire Multifamily Mastermind since 2019.
Connect with Sharon:
LinkedIn: https://www.linkedin.com/in/sharon-riddle-949a3b2b7/
Website: https://excalibretexas.com/
IG: https://www.instagram.com/sharonbirdsongriddle/
Episode highlights:
(1:03) Sharon’s journey with 18 properties and the transition from single-family to multifamily
(9:00) The importance of finding a mentor and community
(12:55) Understanding the language and financials of multifamily investing
(14:24) What are the trends in multifamily investments
(20:27) Differences between asset and property management
(22:00) Advice for
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For more resources and guides, check these out:
- Investor 101 https://www.aritacapital.com/investor-101-resource/#
- Due Diligence Resource https://www.aritacapital.com/dd-checklist-resource/
If you want to learn more, reach out at:
Email: steven@aritacapital.com
LinkedIn: https://www.linkedin.com/in/aritasteven/
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