Commandment 6: Be Patient, Be Bold

Last week, my firm Skytian Capital announced signing our first Florida multi-family apt deal, Hudson Place – a 44 unit beauty just minutes from the #1 beach in America, in Clearwater FL. Following our book‘s own ”10C” (Ten Commandments) guiding principles, we patiently visited Florida half dozen times in past year, even during COVID to assess market, build network, hunt deals but holding to our strict conservative investment criteria.

Commandment 6 of our book says to Be Patient, Be Bold.  

We were patient, then we turned bold.  

After signing Hudson Place, we partnered with our good friends to look for other smaller multi-family assets in this great area to scale up.  Within a week, we signed another undervalued building – Laurel Park, a 32 unit apartment community not only in Clearwater but literally adjacent to Hudson.   We quickly developed a business plan to merge the two communities into one large 76 units on a much larger 4 acre lot.   We are now able to offer more attractive amenities such as larger pool, dog parks to our tenants and lower expenses due to economies of scale.   With a more attractive community we can also materially raise rents.

We not only will improve the community for tenants and Clearwater but will deliver attractive returns to our investment partners. A true win-win-win.

We called the new community: Oasis @ Clearwater. The rest, as they say, is history.

Thank you, Investment Wizards for the great advice leading to this fantastic deal.

C6: Be patient, be bold.