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Writer's pictureJeanalin Rehm

Bye, Bye 24 Units! Hello, 68 Units!

Updated: Oct 28, 2021

God is so good y’all!!!


I get a call back in June from Alex (our BFF, business friend forever) one of the GP’s (general partner, the one who makes the decisions) on the deal that our 24 unit is up for sale. As much as I wanted to hold onto it a little longer, I knew I had to trust the process and the GP’s decisions.


There was 5 of us total on this deal and to be the only female was pretty cool. However, I made a few mistakes that held the whole team up. Ha-ha! Whoops! Rookie investor mistake. When you go in on a deal you need to start an LLC, which we did, but you also have to open up a business account for the bi-annual payments.


This was our first real estate multifamily deal, so we had to learn as we go. Because of Covid, Scottie went to New York for a month on a Covid Nurse deployment. We needed to open a business account and Navy Federal would not let me open one up since the LLC is under both of us. So, I was that LP (limited partner a.k.a. passive investor) that held everything up for others to do their taxes. So embarrassing!


Here's a pic of the 24 Unit. I am bummed I didn't get to see it in person.


Finally, Scottie comes back from his nurse deployment, so we were able to open up a business account. Then… I call Alex and say that I got the first bi-annual check and was so excited. Ha-ha! Then OMG! That shit disappeared. Like seriously! What in the actual fuck! Scottie and I were clearing our house out and throwing a bunch of things away and we think we accidentally threw it away. So, I had to make the call of shame to Alex that I fucken lost the check! Talk about hella embarrassing! So, I had to call our other GP that’s part of the deal that does the accounting to let him know he needs to cut another check.


Two strikes… like seriously! Alex scolded me and said I need to get my shit together. LMFAO! I could not agree so hard on that statement. I told him I have so much on my plate that yes, my life is a fucken mess. I’ll own it! It’s me, I’m very transparent and I will not sugar coat my life is perfect. It’s a mess, but in a good way.


Scottie and I back in 2018 sold our town home that we did an accidental live in/out flip. We lived there for 4 years and during those 4 years we slowly renovated the inside. Then we buy another fixer upper house because we wanted a house with a pool for the boys. So, we had to make a decision, do we sell or do we rent. We decided to sell because we wanted the cash to start investing. We made over $92k on that deal but we spent around $30k on renovations. It took us another 7 months after we moved out to finally finish the renovations on the townhome and sell it. It sold quick, we had 3 strong offers and we took the highest.


We wanted to park our profits somewhere and learn how to invest. Since we were going to a real estate meetup for about a year, we made relationships and built trust. Alex and another partner had this deal lined up. He was looking for 5 people to invest $56k. I was having major anxiety because this was our first deal, and we had no idea what we were doing. Giving up $56k was a big deal to us. That’s a lot of dough to hand over to someone we just met, someone who never did a syndication before. But we had faith and decided, yolo! Let’s do it. We’ll gamble on Alex, he talks a lot of shit. Let’s hold him accountable. Ha-ha! If you know him, he’s one annoying cocky mother fucker! All jokes aside he’s like a brother we wish we never had. LMFAO!


Scottie and I take the boys and go to Navy Federal and wire over $56k to our partners. Over the 2 years of owning the place we would get a few checks a year. The GP’s and our property manager did a great job at doing value add to the property by renovating a few properties at a time. This was a C class property with 24 units and all of the units were only 1 bedroom. The first year was rough because there was a lot of maintenance and renovations that the property needed. So, our bi-annual returns was not as high as we expected. But we invested with faith knowing it will eventually pay off, but we didn’t know it would be so soon!


Here is video of me opening up the check a few days ago. I didn't think I'd cry. Haha! This is my raw emotions.


The numbers on the 24 unit


24 Unit – Fayetteville, NC

24 Unit, 1-bedroom apartments, C Class

Cost – 1.2 million

GP’s – 2

LP – 3

Total Investors – 5

Input – $56k (Money we got from selling our Townhome/Exspense)

Ownership – 18%

Cap Rate: 8.62%

Hold time – 5 years

Actual Hold Time – 2 years, 3 months

IRR – 50%

Annualized Return – 62%

Equity Multiple – 2.45X

Bi-annual Income – $3554.13

Final Payout – $129,380.87

Input – - $56k (Expense)

LLC – - $425.00 (Expense)

Gross Profit – $76,510

Tithe – (10%) – $7651.00

Net Profit – $68,859




Oct. 16, 2021 - Teary eyes opening the check up.

Oct. 18 2021 - Depositing the check documenting this blessed moment!

So, then I get another call from Alex, he was like don’t spend all the money and don’t go broke. LMFAO! He does not know Scottie and I too well, I guess. We always spend our money on investments. Rarely do we ever buy liabilities. Trust me, I want a Tesla, haha! So, Alex was like go in on this deal with me. I was like bruh, you just made us over $75k, yolo, let’s do it. We saw the pitch and looked at the numbers and decided to go in. Below are the deets.


Oct. 2, 2021 - Wiring $50k for the 68 Units




















How stinking adorable are these complexes? I am in love!!!


68 Unit – Mobile, AL & Pensacola, FL

The 68-unit Portfolio includes: 3 complexes in Mobile, AL that equals 55 units and then an adorable 13-unit complex in Pensacola, FL. All 4 properties range from studios to 3 bed 2 bath apartments, and all are B Class complexes.

Cost – $5.85 Million

GP’s – TBD

LP – TBD

Total Investors – TBD

Input – $50k (Our initial investment from the 24 unit)

Ownership: 2%

Cap Rate – 5.5%

Hold Time – 10 year hold (legacy asset)

Actual Hold Time – TBD

IRR – TBD

Annualized Return – TBD

Equity Multiple – TBD

Final Payout – TBD

Net Profit –

Tithe – TBD


Below are pics of the 4 complexes <3







With Scottie and I, we are obsessed with being better. We have big dreams and in order for us to achieve them, we have to sacrifice our time now. I help him try and enjoy life along the journey and he helps me with delayed satisfaction. When we have enough money, we spend it on assets for an ROI. As much as I want a Tesla, a newer house and all the things, Scottie always brings me back to reality and says rich people buy assets and or borrow money to buy assets. Our goal is to be able to break the generational curse of the poverty mindset and allow our boys to live the life we wish we could when we were their age. I always say this, but I grew up on welfare, food stamps, and section 8. I blog and be very transparent about what we do in hopes to inspire others that if we can do it, so can you!


Work Hard, Pray Hard and Dream Big!


Stay tuned to see what we plan to do with the $75k profit from selling the 24 unit. We also did a cash out refi and applied for a second home vacation mortgage. I’ll be blogging about the deets on how much equity we were able to pull out and how much we qualified for the second home vacation mortgage. We are learning how to leverage debt. The good debt, aka mortgages. I should clarify, we don't believe in consumer debt.

Stay blessed my friends!


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