Send us Fan Mail Want the real numbers behind selling five aging buildings and turning them into a cleaner, more scalable portfolio? We open the books on a 12-unit, ~$570k buy that we fully exited and rolled into roughly $1.4M of newer brick properties through a 1031 exchange. From timelines and lender prep to why standardized 1950s–1960s construction beats quirky 1900s basements, we get specific about what changed, what we learned, and what we’d do differently. We walk through the 2022 closing statement, including earnest money, origination fees, title costs, and how acting as our own buyer’s agent helped reduce cash to close. Then we break down each property’s exit—what sold well, what didn’t, and why selling the package made more sense than picking off a single “winner” and trapping equity. You’ll hear where proceeds landed (~$266k after fees), how 1031 deadlines really feel in the middle of busy work and family schedules, and the practical steps that kept us inside the 45-day identification and 180-day closing windows. This is a case for operational simplicity. Brick, drywall, repeatable layouts, and cookie-cutter finishes let a management team run faster turns and predictable maintenance. We also dig into the choice to hire a listing agent on disposition—yes, it cost $30–40k, but it bought time, organization, and relationships that matter for future deal flow. Looking forward, we’re trading 12 older units for 20 standardized ones, aiming to push from 73 to 99 units by February, with a longer horizon of several hundred doors built on steady debt paydown and fewer surprises. If you’re mapping your own upgrade path, this walkthrough will help you plan funding, insurance, lender readiness, and timelines before the 1031 clock starts. Listen, grab the playbook, and tell us: good trade or bad trade? Subscribe, share with a friend who’s scaling, and drop a review so we know what to dig into next.
