Another Great Year of Real Estate - 2023 Review
It's a wrap! 🎉 From hiring our first team member to stabilizing a multifamily property, join us in celebrating our monumental wins in 2023!
Single Family
The slow multifamily market forced us to purchase single-family homes so we could keep investing. If 2024 is as painful 2023, expect us to buy more single family houses.
Multifamily
We underwrote 75% less deals than in 2022. We got better at immediately recognizing deals that wouldn’t work. High interest rates and high seller expectations made most deals terrible investments.
The graph clearly shows when we closed on properties by the drastic dip in underwriting.
You can see my soul dying as deals starting making less and less financial sense.
Agents
We spend a lot of time finding the right agents and lenders that can meet our needs while also being easy to work with. Once we choose a team member, we still talk to others to compare rates/terms but we are a very loyal company.
Investors
The data shows investors are happy reading the update summary and rarely dive into the full report.
Big Wins
Hired our first team member.
Stabilized a multifamily property.
Passed $6 million in assets undermanagement.
Started our first ADU conversion.
