Second Quarter
2022 Report

Problem

A shortage in supply
of workforce housing

solution

Increase supply by purchasing and renovating distressed homes to meet demand

Progress Report

238
PROPERTIES purchased
$15M
capital raised

Since November 2020

The Big Long? A Deep Dive on U.S. Housing

Our friends at Voss Capital recently published a 5-part series with an in depth review of the U.S. Housing market. We highly recommend this as a resource in furthering one’s knowledge on why we have such conviction on the supply/demand imbalance for our sector of the housing market.

Video Summary

Deal by the Numbers

show me a typical deal

443 Senova Dr, San Antonio, TX

buy
$187,400
REHAB + CARRY
$70,121
TOTAL COST
$257,521
MARKET VALUE
$285,000
before
after

$1,900

LEASED

1.25x

RETURN ON EQUITY
(unrealized)

9.0%

CASH ON CASH

How We Build: Announcing our New Hires

ZACH HUGHES
Senior Vice President

Zach, 35, is a Houston Native and has 12 years of experience in the construction business. He recently worked on the executive team as a Vice President with Forney Construction, a commercial general contractor located in Houston. During his time there he oversaw and managed a wide variety of construction projects valued at over $200,000,000.

At Green Residential, Zach will help oversee all construction operations for the GR SFR FUND. Zach graduated from Texas Tech University with a Bachelors of Science in Business Management and currently serves on the board, with his wife, for a non-profit that focuses on serving the youth in the Houston area. He and his wife live in Houston with their two kids.

We Negotiated

84 Unit Portfolio in Dallas, TX (Garland)In May we successfully closed on an 84 unit portfolio in the Dallas suburb of Garland, TX. This portfolio has been held by one owner since the 1980s. All the homes currently have month-to-month tenants with rents well below market.

Furthermore, very few, if any, renovations have been made which fits our value-add strategy nicely.

Property Highlights

Before and after of our latest projects
130 DOLORES AVE
SAN ANTONIO, TX 78228
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after
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443 SENOVA DR
SAN ANTONIO, TX 78216
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5803 KNOLL KREST
SAN ANTONIO, TX 78242
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8112 HOOVERS BEND
SAN ANTONIO, TX 78250
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9670 WINDSWEPT
HOUSTON, TX 77067
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Goals for the 4th Quarter

Goal 1

Rehab Remaining Properties in Dallas

Goal 2

Stabilize and Lease Portfolio

Portfolio Summary & Financials

Investment Team

LEON GREEN
President, CPA
JOHN HOLLAND
Head of Acquisitions
BURTON HANSON
Senior Vice President
DARRYL CLARK
Director of Construction Management