
Episode #518
EP 518 - How Sam Morris raised $150M+ in Private Capital and Built a $1B+ Real Estate Portfolio!
What does it really take to build lifelong trust with investors instead of just chasing a transaction? In this episode, Sam Morris of LSCRE β a partner who has led acquisition and disposition teams to over $550 million in multifamily transactions and raised over $150 million personally β sits down with host Tim Mai to unpack why old-school, relationship-first capital raising still beats anything digital. Sam shares how he cut his teeth as a corporate banker and lender before moving into multifamily investing in 2007, right before the 2008 crash, and breaks down the key differences between that liquidity-driven crisis and today's supply-demand-driven market cycle. He dives deep into how LSCRE evaluates markets (jobs, population growth, crime, school districts), why they stick to a tight geographic footprint in Houston and Dallas rather than chasing deals nationwide, and why buying the right location matters more than getting the cheapest basis. Sam also opens up about what's actually working for capital raisers right now β continual investor communication, transparency, and highlighting wins even when there's no active deal β plus the real differences between fund managers and co-GPs, what LSCRE looks for in a fund manager partner, and where to find your first investors by leaning into your own community and network. If you want a masterclass in building durable investor relationships and reading real estate market cycles from someone who has done it for decades, this conversation is packed with insight. 5 Key Takeaways: Sam built his career starting as a corporate banker learning to underwrite deals manually, then became a lender before investing in his first large multifamily complex in 2007, right before the 2008 crash. The 2008 crash was a liquidity crisis that hit the entire financial system, while today's market challenges are driven by a supply-demand imbalance that plays out differently market by market and even submarket by submarket. When evaluating markets, Sam looks beyond supply and demand to job growth (diversified across multiple employers, not concentrated in one), population growth, crime rates, school districts, and accessibility β and he'll buy a C-class deal in an A location before he'll buy an A-class deal in a C location. LSCRE increasingly partners with fund managers (rather than raising everything internally) to access larger deals and reach investor bases they otherwise couldn't, including niche groups like doctors and pilots; fund managers should aim to raise at least $400,000-$500,000 per deal to cover their costs. The capital raisers succeeding right now are the ones continually communicating with investors regardless of whether there's an active deal β sharing wins, reviews, and educational content β so that when it's time to raise, the ask feels warm rather than cold. About Tim Mai Tim Mai is a real estate investor, fund manager, mentor, and founder of HERO Mastermind for REI coaches. He has helped many real estate investors and coaches become millionaires. Tim continues to help busy professionals earn income and build wealth through passive investing. He is also a creative marketer and promoter with incredible knowledge and experience, which he freely shares. He has lifted himself from the aftermath of war, achieving technical expertise in computers, followed by investment success in real estate, management skills, and a lofty position among real estate educators and internet marketers. Tim is an industry leader who has acquired and exited well over $50 million worth of real estate and is currently an investor in over 2700 units of multifamily apartments. Connect with Tim Website: Capital Raising Party Facebook: Tim Mai | Capital Raising Nation Instagram: @timmaicom Twitter: @timmai LinkedIn: Tim Mai YouTube: Tim Mai

