06/01/2026
10 years ago, we acquired a 24-unit property off-market. Last month, we refinanced it — and the numbers tell a pretty compelling story.
Investor distributions grew from around 5–7% in the early years to 11%+. We returned all original investor capital through the refinance. The deal is sitting at a 4X+ equity multiple. And there's still value left to capture.
The key? We didn't rush to sell. Twice we considered it, and both times we found more upside by reinvesting retained earnings and letting the equity compound — without taking on more debt or bringing in additional capital.
Not every investment needs a 3-year exit. Sometimes the best returns come from holding a strong asset in a good market and continuing to execute.
Read the full breakdown in our latest newsletter 👇
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