Q4 2021 was a great month for the Company. Overall, we acquired seven new assets and sold one asset. At the end of the quarter, we had 17 assets under management and sold five assets. We also had some great luck with getting some new deals under contract. We also decided to list five more assets for sale in Q1 2022 to capture the profits for our investors and exchange the funds into larger, more stabilized assets.

In December 2021, we also vertically integrated with our Property Management Company, Rise48 Communities. Going through an operational transition is no joke. It’s pretty much as if we acquired all of the assets all over again. Although the transition was painful, we’re headed in the right direction with operations. Results dipped in November and December largely due to the transition but Q1 2022 is starting off right with better onsite staff and better corporate support to ensure that the assets perform to their highest abilities.

CapEx Update

Our average rental premium for renovated units was just above $220 per unit (monthly increase). The current market cap rate for a fully stabilized asset is around 3.5% to 4.0% At a 4.0% cap rate, this means that we’re adding more than $66,250 in value for every unit that we renovate at each property.