This was the most difficult project in our career, and I’m proud of this story of perseverance and ultimately preservation of capital. In a time where there is much negativity towards Syndications and multifamily, this story hopefully gives hope to the operators out there doing the right thing, giving every bit of smarts and execution to protect capital. This story is a save. I don’t know many other operators that would have been able to pull off what we did and the challenges we faced, how we survived and thrived. Our strength as GP guarantors at Sharpline, our track-record, our relationships with Freddie and Fannie were the key. It’s a testament to Sharpline and the commitment of our team as well as the patience and belief from our investors. I want this post to be a reality check and not considered bragadocious but give homage to the people in Sharpline and the many partners (lenders, vendors, consultants, investors) that helped get this insurmountable project to where it is today. Here we go. 3 years ago we bought this as a heavy value-add post covid. We couldn’t get new roofs that were leaking for 7 months, so this inhibited our reposition to improve the property, which kept some of the bad elements at the community there longer than we wanted. Fire property management company 1 , Fire property management company 2 (proverbial jump out frying pan into the fire, scary). Decided to self-manage project. This was in an early stage of our self-management journey about 2 years ago (we now self-manage 1500+ units). We purchase one half of the project with cash and the other with a bridge loan with floating rate debt (our only floating rate Sharpline has ever done, we didn’t buy a rate cap either, not smart) 4% bridge loan. We begin to execute capex plan successfully (we ripped the mansards off #MansardSlayer). The process of reposition took longer than we liked because of construction delays and bad PM companies, but we ultimately had the safety net of the 24 unit townhouse project that was getting higher occupancy that we purchased with cash as part of the syndication. So we refi’d the 24 unit with a local bank and GPs personally guaranteed the loan as we continued to do projects. This allowed us to free up liquid capital to continue executing to get higher occupancy, but we were still not there yet. We were at 65% overall occupancy on 128 units and the community was improving.

Hey everyone, I am new to the content creation game, so if this video provided any value to you at all please let me know. Also, when I screen recorded my handwritten notes on my iPad the file was accidentally deleted. So I re-recorded the entire handwriting portion using my laptop so that you still had a visual aid. Hence why my handwriting jokes make no sense LOL Anyways, if you want the full breakdown, notes, etc. Please check up the link to this video in our new multifamily operations course here: https://www.skool.com/multifamily/classroom/a3a46b09?md=6a3ce78263d54f30864a832f3f2e48c7

https://www.credaily.com/briefs/midwest-multifamily-outperforms-national-average-occupancy/?utm_source=newsletter.credaily.com&utm_medium=newsletter&utm_campaign=commercial-real-estate-market-shows-signs-of-revival&_bhlid=2dcf102ac7f535db6531e5b58c164d74bda7118a

I’d like to offer over the top value and I’m curious what people are looking for, you can either answer the questions here below in the pole or just comment.

Objective: To engage with the multi-family school community platform effectively and access free courses and resources provided by Chris Jackson. Key Steps: 1. Access the multi-family school platform. 2. Engage with the community by participating in discussions and activities. 3. Explore the free courses and resources available on the platform. 4. Familiarize yourself with the multifamily analyzer tool. 5. Check out Chris Jackson's bio for credibility and background information. 6. Take advantage of the aggregated content on the platform to enhance your knowledge of multi-family investing. 7. Avoid relying on Facebook for engagement and prioritize the school platform for interactions. 8. Learn from Chris Jackson's experience in managing over 1500 units in the multi-family space. 9. Understand the risks and benefits of multi-family investing to make informed decisions. 10. Utilize the platform to avoid common pitfalls in syndication and property management. Cautionary Notes: - Beware of spam and disengagement on the platform. - Exercise caution when navigating through different concepts in multi-family investing. - Avoid rushing into investments without proper knowledge and understanding. - Be mindful of the risks associated with multi-family investing and seek guidance when needed. Tips for Efficiency: - Engage actively in discussions and activities to maximize learning opportunities. - Utilize the free courses and resources provided to enhance your understanding of multi-family investing. - Take advantage of the multifamily analyzer tool for property analysis. - Network with like-minded individuals on the platform to expand your knowledge and connections. - Regularly check for updates and new content on the platform to stay informed about industry trends.