Many of our investors have been asking when our next investment opportunity will be available. While we don’t have anything ready to present right now, I wanted to pull back the curtain and share our meticulous process for finding and vetting deals.  

The numbers might surprise you… 

A Look Back at 2024: The Numbers Tell the Story 

Let me break down our deal flow from 2024: 

• High level review of over 200 potential deals 

• Conducted deep-dive analysis on 30+ opportunities 

• Submitted offers on 18 properties 

• Went under contract on 9 deals 

• Successfully closed on 3 apartment communities 

But these numbers only tell part of the story. Let me walk you through what happens at each stage. 

The Initial Review: Casting a Wide Net 

In 2024, Max and I looked at close to 200 deals. This broad initial scan is crucial – we never want to miss a potential gem. At this stage, we’re doing our first-pass analysis: Does the property meet our basic criteria? Is it in our target market? Does the initial pricing make sense? 

The Deep Dive: Where the Real Work Begins 

From there, we identified 30+ deals that warranted a deeper look. This is where the real work begins. Each of these opportunities required several hours of intensive analysis: 

• Running detailed financial models 

• Stress-testing assumptions 

• Analyzing market conditions 

• Evaluating potential improvements 

• Calculating probable returns 

Making Moves: The Offer Stage 

When a deal passes our initial scrutiny, we move quickly but carefully. We submitted 18 aggressive offers in 2024. Each offer is carefully structured to protect our investors while still being competitive in the market. 

Under Contract: Where the Real Due Diligence Happens 

Nine deals progressed to the contract stage. This is where we roll up our sleeves and verify every assumption: 

• Conducting thorough property walks 

• Securing insurance quotes 

• Exploring debt financing options 

• Verifying all financial assumptions 

• Getting contractor bids for planned improvements 

• Analyzing every aspect of the deal that could impact returns 

The Final Filter: Only the Best Make It Through 

Of those nine properties under contract, only three made it through our final filter to become actual investments. Why? Because we refuse to compromise on quality. Each deal that we present to our investors must: 

• Meet our strict underwriting criteria 

• Show strong potential for value add 

• Demonstrate robust market fundamentals 

• Offer compelling risk-adjusted returns 

Why We’re So Selective 

Some might look at these numbers – 200 deals reviewed to find 3 winners – and think we’re being too picky. We see it differently. Every deal we pass on is a potential problem we’ve helped our investors avoid. Our job isn’t to do as many deals as possible; it’s to find the right deals. 

Looking Ahead to 2025 

Currently, we’re in the winter months, and the market has its usual seasonal slowdown. But we’re actively sourcing new opportunities. Our target remains clear: 

• Value-add opportunities in strong markets 

• Properties with clear potential for improvement 

• Deals that make sense in today’s lending environment 

• Investments that meet our strict return criteria 

We expect to have new opportunities to present by the end of Q1. Until then, we’ll keep analyzing, visiting properties, and doing the thorough work required to find deals that meet our standards. 

The Bottom Line 

We don’t rush deals just to have something to present. Our investors trust us with their capital, and we take that responsibility seriously. When we bring you a deal, you can be confident it’s been through a rigorous evaluation process and represents what we believe to be a truly compelling opportunity. 

Stay tuned – we’ll keep you updated as soon as we find the right opportunity that meets our exacting standards.