Just got off a call with a student and the broker.
100 units.
Small town.
Bought in 2022 for about 3.2M.
They now owe about 3.9M.
Yep! More than it’s worth.
They renovated. Repainted. Did roofs, HVAC, interiors.
Burned roughly 2.6M trying to “fix” it.
AND Now they’re so done they’re willing to bring a check to closing just to escape.
Here’s the rent roll that makes most young bloods freeze.
✔️30 delinquent.9 vacant.
✔️ 61 paying.
✔️Only 61% of the property is behaving.
Most see that and say "I’ll wait for a cleaner deal".
Cleaner like what?
A unicorn with a cap rate?
This isn’t a property problem
Its an operator problem
.
Messy deals with tired sellers are where real money lives.
Not perfect spreadsheets.
Not Instagram deals.
If you’re still “learning,” “ watching,” or “getting ready,”...
you’re not stuck. You’re hiding.
Ignorance is VERY expensive.
Not knowing how to see this keeps you preparing forever.
Everyone else calls this too hard.
We call it Monday.
Anyone who shows up tonight gets first access to something I haven’t done in years...
No replay. No drip. no BS
Either you’re ready, or you’re still getting ready to get ready.