The Frugal Gay – Flipping Bras to Buy a Rental

by | Jun 12, 2023

Arn Cenedella is a real estate broker and investor with over 44  years experience in the real estate industry.

Arn joined Cenedella and Co, his family’s residential and investment brokerage firm, located in Menlo Park, CA in 1978.

Over a 36 year period, Arn had success as a broker in Palo Alto and Menlo Park built a single family rental portfolio on the SF Peninsula and elsewhere in the US. During this period, Arn helped many investors build their rental portfolios.

Arn moved from his lifelong home in San Carlos CA to Greenville SC in 2014. 

Arn founded Spark Investment Group in 2020 as he transitioned his single family rental portfolio into multifamily properties.

Arn currently manages and operates a multifamily portfolio as general partner and sponsor of over 818 units with a total value in excess of $92M. In addition, Arn is a limited partner in over 500 units located in the Southeast and Mountain West.


[00:00] – Intro

[01:59] – Arn’s Background

[04:38] – Left Field Investors 

[05:38] – Building Wealth

[09:20] – WHy Multifamily

[13:07] – Building Teams

[22:57] – Spark Investment Group

[27:13] – Conservative Underwriting

[31:20] – Market Trends

[39:01] – Arn’s Recommendations for the New Passive Investor

[40:23] – Connect With Arn

[40:44] – Bucket List


Arn Cenedella



Connect with our host, Randy Smith, for more educational content or to discuss investment opportunities in the real estate syndication space at, or on Instagram at @randysmithinvestor


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