2/3/2024

Well we realized while working full time, it’s really hard to build and maintain relationships in multiple states. We’ve decided to narrow our focus to Illinois and Idaho. Why?

• Illinois: it’s our backyard. we know the growing markets best and we don’t have to rely on others for asset management as we can be the boots on the ground

• Idaho: it’s growing. Fast. It’s a gem with the Northern California population moving there. Land is abundant and properties are cheap. It’s a bit harder since it’s not as old so a lot of the opportunities that pop up there are new builds. But we remain optimistic.

We also learned that we prefer to be in the driver's seat. When we sign on to a co-GP deal, we are open to any state, but we prefer that the operating team has full control over the asset management so we can ensure a strong return for our investors and jump in if anything is going off track.

We’ve learned that the best way to get into a co-GP position is by joining a strong operating team to lean in on asset management and bring capital to the table, so you’ll see us shift our focus to bringing big deals to our investors from strong operators instead of trying to only structure deals of our own.

The goal is to close or join a deal in Q1 and deal flow remains active so here’s to hoping we can find something good for us and our investors.