From Acquisition to Now: Whitehouse Manor Project Update - #246

In this powerful episode of the Real Estate Reserve Podcast, Jason and Ian break down the full lifecycle of a major multifamily investment—the 76-unit Whitehouse Manor project in Baltimore, MD—a deal they've been involved in for the past 5 years.

What started as a $5 million acquisition with 90% seller financing turned into a rollercoaster of refinancing, near-sales, market changes, and valuable lessons. From a missed $8.8M exit to today's valuation closer to $8.2M, they unpack what went right, what went wrong, and what’s next.

🔥 In this episode, you’ll learn:

• How seller financing helped acquire a 76-unit apartment complex

• The real impact of rising interest rates, expenses, and DSCR challenges

• Why timing your exit is everything—and how ego can cost you hundreds of thousands

• The $700K mistake: choosing not to sell when they should have

• The mindset shift from investor to family office

• How to create liquidity without adding headaches

• The importance of opportunity cost and being ready to pivot

• Why it's crucial to keep your capital working—for equity AND cash flow

• The mental bandwidth cost of being an operator vs. passive investor

• A brutally honest look at selling, refinancing, and portfolio rebalancing

💡 Who should watch this:

• Multifamily & rental property investors

• LPs considering passive income strategies

• Real estate operators & syndicators

• Anyone juggling the trade-off between cash flow vs. equity

• Investors thinking about when to sell, refinance, or reposition assets

🔄 Whether you’re holding too long, or second-guessing your exit, this candid conversation will reshape how you evaluate your deals, your ego, and your equity.

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https://podcasts.apple.com/us/podcast/real-estate-reserve-podcast/id1507982777