Building a Vertically Integrated Housing Company with $2bn AUM - Casey Lynch, CEO of Roundhouse [Replay]

Masters of Moments

Roundhouse is a fully integrated developer and operator of multifamily housing. Starting with a single condominium purchased amidst the financial crisis in 2009, we have since developed and acquired a portfolio of over 5,000 multifamily homes.

Today, Roundhouse focuses exclusively on providing high-quality housing options in emerging cities across the Western United States. In order to deliver superior experiences to our employees and residents we have built a fully integrated service offering that spans the construction, property management, and design disciplines.

On this episode, Jake & Casey discuss:

• Learning to structure long-term horizon deals
• Avoiding competing with institutional capital
• Structuring deals for acquisitions vs. developments
• The advantages of being vertically integrated -
• Casey's 6-month sabbatical and how to have your company be successful without you

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Links:

Roundhouse: https://rndhouse.com/

Casey on Twitter: https://twitter.com/roundhouse208

Topics:

(00:02:18) Casey’s RE Career in Southern California

(00:11:40) The decision to pivot out of LA

(00:15:54) Learning to structure long-term horizon deals

(00:18:41) How do you avoid competing with institutional capital?

(00:22:04) How have you figured out how to raise enough capital without going to someone with deeper pockets?

(00:24:41) How do you structure deals when they are acquisitions vs. developments?

(00:31:08) How often are you refinancing in order to return capital?

(00:35:48) How do you think about Capex in multifamily over long hold periods?

(00:43:38) How are you differentiating your high-end products?

(00:47:00) What are the advantages of being vertically integrated?

(00:50:59) What does enterprise value mean to you?

(00:57:53) Are you at a point where the team can raise capital without you?

(01:02:28) What was the scenario that led to you buying out your partner?

(01:07:51) How do you ensure leadership values are being replicated across the business?

(01:11:29) What was the biggest insight you gained from your 6-month sabbatical

(01:19:44) Casey’s emphasis on design

(01:22:18) What is your favorite hotel?