This investment project has been a long time coming.
It’s taken months because COVID-19 disrupted all our plans: Investor money tightened up; stock market fears rose; our lender quit lending; we spent months renegotiating with the seller; we reached out to investors with seminars, webinars, and phone calls.
But along the way we learned a lot. We developed skills, resilience, grit.
The setbacks are going to be worth it. This is a great project. 10 units on the waterfront, rooftop penthouses, retail on first floor, even a cell tower grandfathered in that’s generating tons of revenue annually.
Real estate has remained remarkably stable as an investment this year; the DMV hasn’t slowed down. And a 6% return is nothing compared to our 15% preferred return.
This project’s about to get properly underway with heavy demo. Make sure you subscribe and stay tuned so you can see what this building becomes!
What project or situation has been challenging you? What setbacks are you up against? Let me know in the comments.