Great way to kick off this new year. Signed PSA on raw land in Venice, CA @ 1.2m.

What a year of growth it’s been. Last January, I had just left my job to pursue my own path. Since then, I’ve closed one deal with my cousin and I’m currently in escrow on another exciting project (more on that soon). I’m wrapping up the year having placed four different offers in the past two days, and now I’m heading to Nicaragua to surf and fish with a college buddy. I hope the year ahead brings even more knowledge, opportunity, and wealth to everyone in this community. It’s been a meaningful part of my journey, and I’m grateful for it. Update on the project in escrow: There’s been a lot uncovered — and unfortunately, a lot of expensive issues that neither the seller nor I were aware of initially. To make the property truly leasable and profitable, we’re talking several hundred thousand dollars in additional work. I sent a thoughtful, professional email to the broker (who I’ve built a solid relationship with) laying it all out and asked for a $600,000 price reduction. I know that sounds aggressive, but given the new information, it felt necessary to play it straight. Their response was essentially to tell me to cancel the deal. I’m prepared to walk away if that’s where it lands, but having come this far, I’d like to at least explore how much room there really is to move on price. 4 offers: One was an off-market house in a great neighborhood that needs some renovating. The four trustees are, understandably, a bit delusional about what they think it’s worth. I put in a hard offer at $2.8M and offered to let them double-end the deal (for the extra commission). I’m not super bullish on this one, but if it works, it could be a strong return — around 20% cash-on-cash in hopefully under six months. The other three offers were all on raw land in a cool part of Venice. My thinking is that if I can do multiple projects on the same street, it should help bring soft costs down a bit. Depending on the site, I’d either build small apartment units or one really nice single-family home (one of the three has to be a home by law).

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?

I wanted to tell you all how thankful @Ryan Narus and I are to have such fantastic, talented investors in the community. As we approach year end, start setting your intentions ahead of all the “resolutioners” so you can hit the ground running in 2026. For some of you, thats the FIRST park, for others its ONE MORE, and for even more, its dialing in operations with new systems and processes. Whatever your goal, be thankful for your ability to chase and achieve it! Be thankful for the incredible community of people here who share their time and knowledge with you so that we can all grow! So much to be thankful for this year! Enjoy your turkey and see you tomorrow for the weekly Q&A!

36223 SIERRA HWY, PALMDALE, CA 93550 13 acres of additional land 53 sites TOH all occupied / rent ranges avg is 600 / 32k-33k m/o income was on well and it ran dry in process of going to city water - march 2027 / state paying for water truck until connection / two septic system and 2 leach field - leach field needs replaced ask 1.2m all cash or seller finance no more than 5 yrs half down 5-6% Call me @3108552080 if interested @Joshua Cornist @Larry Gonzales