Be a squirrel.
That's the recipe for success that Ola Dantis, Founder and CEO of the Houston-Based real estate firm Dwellynn, offers clients eyeing investments in multifamily housing.
"What does that mean?" Ola asked. "You have to be a squirrel under the oak tree. You have to be persistent-you have to just nibble away at the bottom of the oak tree while everyone is passing by like, 'Oh, look at that Squirrel, it's so cute.' No, not exactly. I'm cutting and chipping away at that oak tree and I'm going to take it down."
The moral of this story is consistency wins.
"That's what a lot of people miss out on," Ola said. "They get into the real estate business. They think they're going to do their first deal in a year. No, you're going to do your first, large multifamily deal in three years. But you've got to be consistent."
At Dwellynn, Ola as he leads his Houston-based real estate investment teams focuses on multifamily properties. He engages the entrepreneurial spirit that has brought him success with companies on two continents. In the Lone Star State, Ola has positioned Dwellynn as a major player in multifamily real estate.
"Reinventing the scope of quality living, by responding to the needs of consumers by leveraging technology, allows our team to position Dwellynn as a vertically-integrated firm," Ola said, "with property acquisitions, redevelopment, and property management strategically focused on mixed-use, garden-style, low and high-rise projects.
Ola has generated great success with Dwellynn by tapping into the distinct advantages created by investing in multifamily units:
Vacancies are better managed with multi-unit properties as opposed to single family residences. Multifamily properties generate revenue from a pool of tenants, rather than one or just a few.
Apartment investing is a better hedge against economic instability.
Multifamily investments are eligible for smart tax shelters.
Hiring an experienced property manager can reduce the day-to-day tasks necessary to keep an apartment complex running smoothly. Fewer tasks translate into increased savings that grow over time.
Apartments generate a greater economy of scale compared to other real estate investments.
Along with his advice to, "Be a squirrel," Ola offers guidance to his clients on making the most of multifamily real estate investments. These tips include:
Geography is everything. Choose the right location for investment opportunities. The importance of considering local market conditions and demographics when choosing a location for multifamily investing cannot be overstated.
There is no free lunch. Every gain carries a price to pay.
Go all in on your investment strategy. Understand the risks of investing in multifamily real estate, but committing fully to your plans is a key component of achieving success. Go big, or don't go at all.
Believe in your own success. Harness the power of a positive mindset. Believe in your ability to succeed as a multifamily real estate investor.
Build a strong team of professionals to support your efforts.
Don't go it alone. Seek out guidance from a professional like Ola, who has the experience and the track record that will give you confidence to proceed together.
Above all, be a squirrel-be determined, because consistency wins.
Visit dwellynn.com to learn more about Ola's firm.
