tl;dr
Golf course property is vacant and ready for rehab
Coliving rehab complete, DSCR refinance nearly done
Lease-up in progress, more traction on short-term demand than long-term so far
Golf Course Fix and Flip
After closing, the seller needed more time to get his affairs in order and line up his next housing move. Rather than push for immediate eviction, we drafted a short-term residential lease, collected first month's rent and a security deposit, and gave him a clear move-out deadline. He honored the final extension and moved out in late May.
Now that the home is vacant, we can assess its condition, tighten the scope, and get to work. The goal is to apply the lessons from the coliving rehab, stay disciplined on budget, and execute a clean flip that generates the expected returns for our private money lenders.
Coliving House Near UTRGV
Living room decoration in progress
Rehab is complete, we’ve got it furnished so that it’s nice and comfortable, and the DSCR refinance is nearly done. The focus now is getting it fully leased up.
Long-term lease demand has been slower than expected, but we've seen solid activity on the short-term side through Airbnb and Furnished Finder. We're paying close attention to where demand is showing up and adjusting accordingly.
Lessons Learned
Compassion and protection aren't mutually exclusive: Doing right by someone and protecting the deal are not opposites. Structure the situation properly, document everything, and both are possible.
Follow the demand: We built the coliving for long-term tenants, but short-term platforms like Airbnb and Furnished Finder have shown more activity. Stay flexible and let real data guide strategy.
That’s it for May.
More deals and updates coming next month, stay tuned!
Interested in learning how to earn double-digit returns with a protected, secured, and insured asset? Reach out to me and let’s chat!
— Jonathan
P.S.: Follow along on Instagram @jonseio for real-time project updates and market insights!