GI345: From $1B in Bank Loans to 5,300 Apartments with Sam Morris

In this episode of the Global Investors Podcast, host Charles Carillo sits down with Sam Morris, Partner at Lone Star Capital, to break down what it actually takes to operate large-scale multifamily investments.

Sam shares how he went from underwriting over $1B in bank loans to overseeing a 5,300+ unit apartment portfolio, including the hard lessons learned from disasters, insurance claims, property taxes, preferred equity, and vertical integration.

This conversation goes far beyond surface-level investing advice. You’ll hear how institutional operators evaluate deals, why management matters more than spreadsheets, and how real-world challenges like hurricanes, rising taxes, and capital stack complexity can make—or break—a deal.

If you’re a passive investor, active syndicator, or serious about understanding how large multifamily deals actually work, this episode delivers real insight from decades of experience.

What You’ll Learn in This Episode:

• How early underwriting experience creates long-term investing advantages

• Why large multifamily deals are often easier to manage than small ones

• Lessons from a hurricane that destroyed Sam’s first apartment deal

• How insurance, CapEx, and refinancing can reshape returns

• Why Texas taxes and insurance require specialized strategies

• The real benefits of vertical integration in multifamily

• How syndication fees actually work (and what to watch out for)

• Preferred equity explained—and why investors need to understand it

• The single biggest mistake investors make: underestimating management

Learn More About Sam Morris Here:

• LSCRE - https://www.lscre.com/

Connect with the Global Investors Show, Charles Carillo and Harborside Partners:

◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com

◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/