Happy New Year!

So, what have we been up to? We’ve gotten knee-deep into an asset in Illinois. It looks like it has some legs. It’s small enough that we can JV it, but also big enough to syndicate. So far this asset has taught us how to tighten underwriting: better tax projections, business plan items valuation, and finding discrepancies between P&L and OM.

Furthermore, we’ve begun to dabble in flex spaces. Flex spaces are a unique opportunity for small to medium-sized businesses that need a small retail front and warehouses.

We’re also slowly realizing that our ideal property is not just location, cash flow, etc but also one that gives us insight into its management. Deals exist everywhere. Many of them can be good. But if we’re having trouble obtaining simple things like a P&L, imagine how much deferred maintenance has been swept under the rug!

One thing I’ve noticed I’ve done recently was taking my foot off the gas with networking within the Warrior community. That’s one of my goals for this upcoming month: to reconnect with Warriors I’ve met and maybe meet a couple more. The deal flow has slowed down due to the holidays, but now it's time to pick it back up!

It’s all a journey. We knew that going in. But now that all of the pieces are together, we’re aiming to close a property this year and bring some good returns to our investors to demonstrate our ability to deliver.

Happy New Year and here’s to a prosperous 2024.