The end of 2025 was busy, but incredibly educational. After working through the coursework and connecting with some great people, my business partner and I were introduced to a mobile home park owner who needed to sell due to broader financial challenges across his portfolio. The deal itself was complex. There were three lienholders on the property, with the third-position lienholder having the largest stake. Despite the logistical challenge of me being based in Denver and the property located in Lubbock, Texas, we met multiple times, including a few long lunches, to work through the numbers. Oftentimes, driving through the night to get there in time to meet for lunch. Initially, the deal looked solid: a $1,050,000 purchase price structured with 50% debt from a first-position lender and 50% seller financing. In reality, that “seller financing” came from the third-position lienholder, who agreed to defer payments for the first 18 months. We moved through due diligence smoothly, applying everything we had learned. However, new legal issues arose, including undisclosed liens and judgments, which ultimately caused the deal to fall through. We continued working through the challenges, speaking with multiple banks and even finding one willing to finance the deal with NO money down. Just as momentum returned, the first-position lender discovered three years of unpaid property taxes that he didn't know about. Shortly after that, he decided to foreclose. Even though we didn’t close, the experience was a win in many ways: - We gained confidence in presenting numbers and business plans to lenders. - Bankers and brokers recognized the depth of our due diligence. - We applied the coursework directly to a real opportunity. - Most importantly, it confirmed that the process works. Grateful for the lessons, the support, and the clarity this experience brought. A huge thank you to @Ryan Narus and @Michael Pansolini for building such a valuable platform, and wishing everyone a great start to the new year.

Please share the good, bad and ugly.

I had a one-on-one with @Ryan Narus today, and I walked away with so much clarity and direction in my strategy. You cannot do any business alone, and I’m truly grateful to be surrounded by amazing people like Ryan and @Michael Pansolini . Thank you both for the value, guidance, and knowledge you share. I appreciate you so much! P.s Ryan was kind enough to give me second 1:1 as I missed the first one ! Thank you!!

Managing multiple leases means managing a huge amount of information, and flipping through a 20-page document every time I need something isn’t efficient. I’m looking to build a standardized lease-admin template so key details are easy to reference. For those of you with experience, what are your best practices for organizing and managing tenant leases? Also, curious to hear your thoughts: I recently hired someone on Fiverr to help with lease abstraction. Anyone have experience with that?

Curious if @Ryan Narus and @Michael Pansolini (and anyone else) will be at MHI in April and, if so, will y’all be doing a meetup? Thoughts on MHI as a worthwhile event?