David Toupin is the co-founder and owner of Obsidian Capital, a real estate investment firm based in Austin, TX that focuses on the acquisition of large multifamily and commercial properties. The company targets assets in Texas, but also in other primary markets around the country, to provide strong financial returns and long-term wealth for its investors. With a focus on value-add multifamily assets, the company works with investors to buy, renovate, fix, cash flow, and sell properties to provide strong, long-term returns on investment.
Obsidian Capital, which David founded with industry veteran Glenn Gonzales, has purchased nearly $50 million in assets in its first year alone, and is on track to $100M in assets under management in the near future. The company’s exponential rise is no surprise, given David’s lightning-fast journey from college student to real estate investor. Driven by a combination of determination, business savvy and entrepreneurial spirit David catapulted to early success as one of the nation’s top millennial real estate investors and entrepreneurs by the age of 24.
David bought his first property, a 12-unit apartments complex, when he was just 20, while in college pursuing his finance degree. By the time he graduated, he had built a portfolio of over $7 million in multifamily real estate. Successful in his own right, he met Obsidian’s cofounder at a conference. “We realized we were doing the same thing separately and had great synergy. I had been investing in properties in Michigan for 3 years, and he had been doing so in Texas for 30 years. We share the same drive, the same approach—we’re both very conservative and we both put our investors’ interests first,” David explains.
David’s ambition and valuable skill set combined with his business partner’s vast experience in every aspect of property management and ownership make for a powerful symbiotic team for their clients, as Obsidian Capital continues to grow. Additionally, Obsidian is in the process of building a software company that will convert their top selling multifamily analyzer spreadsheet into a web-based platform. “We are creating the strongest and most efficient online platform for multifamily investors to underwrite and financially analyze deals,” said David.
“This is an exciting time for Obsidian. We have grown rapidly over the past 12 months, and that growth will only continue as we begin our ground-up development branch in addition to our recent venture with our new software company. Our mission is not only to provide a great place for our investors to create wealth but also to be leading innovators in the real estate industry,” David explains.
David Toupin, Co-Founder — Obsidian Capital