It was an incredible learning experience with 3 guys that not only invest in real estate; they are entertained by pushing themselves as far as possible!

3 Things I learned from this experience:

1. Team- It was fun doing this with a great group. We definitely accomplished more together than we would have done by ourself. Matt, Isaac and Rob have great stories and will be back to FarmDaze2025.

2. Experience- Knowing what it feels like when it gets into uncharted territory. A first attempt at a 24 hour event with a 100 mile goal was overwhelming.

3. Expectation- I didn’t have a serious goal. I did the JFK 50 in November and used that as my primary training for this event. I didn’t necessarily train to achieve the ultimate goal, and was doing it for “fun”

UPDATE: CasaDova Apartments

We are 7 months into the 50 unit, CasaDova reposition project in St. Petersburg, FL.

Progress to date:

1. 17 lease renewals with 25% rent increases

2. 12 new move ins at market rent with 50% increases

We have been ambitious with our pricing but currently have 4 apartments available to rent and have several more coming available this month. We should see continued progress in the upcoming months.

Bottom line: 29 of 50 apartments have experienced significant rent increases.

Check out the 2 styles of Kitchen cabinet remodels.

1. New cabinets

2. Painted cabinets

This is the 6th property in 3 years we purchased in Florida and Tennessee. Each property has either gone full cycle and/or operating as projected.

Regards,

Bill

REAL ESTATE LINGO:

Lease renewal – The extension of the resident’s original lease with a higher rent price.

Reposition – Improving a property and increasing the net operating income, forcing the value higher.

Net operating income – Total rents – total expenses = NOI