You’ve heard the saying that opposites attract in love, but the same can often be said for opposite — but complementary — styles in business. A case in point is Jacob and Arleen Garza, the powerhouse couple that founded REEP Equity, a company specializing in acquiring multi-family properties in Texas that are underperforming but generating income. The two have built REEP Equity from the ground up, establishing the company as a beacon of innovation and success while earning local and national accolades along the way, including, most recently, being recognized by San Antonio Business Journal as a top business in the area. Here’s how they’ve made it work despite (or perhaps because of) their differences.
A Chance Meeting
The couple met in 1988 at a Super Bowl party in Dallas, and it turns out that they both worked downtown in buildings right next to each other. But that’s where the similarities end. Jacob worked in software. In fact, he developed Property Automation Software, which became the top-selling property management software program for small to mid-sized property management companies with 21,000 customers across nine countries before he sold it in 2007.
On the other hand, Arleen was in finance, calling herself a “conservative banker.” She held various pivotal positions in the financial services industry as both Senior Vice President and National Hispanic Marketing Manager for Bank of America. Before that, she was the Retail Banking Center Manager at JPMorgan Chase, a Credit Officer, and then a Private Banking Manager at mBank. After leaving the corporate world, Arleen started a consulting business through which she developed strategic business plans with entrepreneurs in various industries.
But it turned out Jacob’s entrepreneurial spirit was the perfect complement to Arleen’s analytical prowess. Although the Garzas married in 1991 and moved to San Antonio in 2008, it wasn’t until 2012 that they decided to work together.
At that time, Jacob became interested in buying a 24-unit apartment complex, and after digging into the numbers, Arleen was on board. However, Jacob didn’t want this to simply be an investment venture; he states, “I really wanted to understand the ultimate end-user because I’ve always believed that if you take care of the people who write your checks, they’re going to take care of you. So what better way to do this than say, ‘let’s buy an apartment complex — a small one — and see if we can run it?'”
However, that property was just the beginning. Since its founding, REEP Equity has bought, sold, and managed $720M worth of multifamily assets (5,500+ units) across San Antonio, Houston, and Austin. The company has taken nine properties full cycle, with an average historical investor return of 2.17x equity multiple, an average of 24% IRR (Internal Rate of Return), and 34% AAR (Annual Average Return).
Navigating the Day to Day
Like many couples who work together, the Garzas had a learning curve when it came to preventing their business from affecting their personal relationship. In their case of launching a business from scratch, it was particularly hard to separate work and life. “It’s a concerted effort to say ‘it stops when it gets home, and it picks up the next morning,” shares Arleen.
As the company grew and they could add employees and management layers, it became easier to separate the two. Arleen says, “Now we can take a longer-term view of the business and focus on strategic initiatives like evaluating different asset classes. Those are the things that should occupy my time versus tactical things.”
Moreover, each can lean into their expertise, with Jacob overseeing growth strategy while Arleen manages REEP Equity’s acquisitions. Both of the Garza’s agree, however, that a couple’s personal partnership should always be held above their business partnership for either of those to be a success.
Reaping the Rewards for Investors and Tenants
While the company is focused on acquiring underperforming, income-producing, multifamily investment opportunities in Texas, REEP Equity is also vertically integrated with its in-house management company, REEP Residential. The two work together to ensure the entire acquisition process is managed effectively while pledging incomparable commitment and service to both their residents and their investors.
The Garza’s in-house management company is involved in every aspect of the process, from pre-contract to ownership, which goes beyond just property management. The team collaborates at every stage of the business plan, allowing them to execute plans swiftly and enhance properties for the benefit of its investors and tenants from the start.
REEP Equity’s investors come from around the world and range from seasoned investors to those just starting. The Garzas work with investors from all walks of life, including teachers, engineers, and doctors. What’s more, 65% of REEP Equity’s 1,200+ clients are repeat investors, exemplifying the company’s commitment to exceptional relationships and results.
The REEP Equity Difference
REEP Equity currently manages 23 multifamily properties in Texas totaling 4,171 units, valued at over 600M+. That combined with their talented staff, holistic investment strategy, and complimentary business styles, it’s no wonder the Garza’s company has been recognized as one of San Antonio’s best businesses. Learn more about investing with REEP Equity here.
Contact Info:
Name: Madison Baber
Email: [email protected]
Organization: Reep Equity
Website: https://reepequity.com/
Adress, Texas, USA
Source: Story.KISSPR.com
Release ID: 919621