In 2023, fueled by coffee, ambition, and a mild addiction to spreadsheets, I purchased two four-unit properties in Sioux Falls, South Dakota.
This brought my grand total to 16 rental units, and yes, I felt like the Monopoly Man minus the top hat (for now).
Fast forward about 10 months, and I had what I thought was a brilliant idea:
“Let’s list two properties on the MLS, sell them, and rocket fuel the portfolio!”
Also, minor detail: the interest rate on those two rentals was the real villain in this story, much higher than the rest of my empire.
The math said: sell the ones sipping too much of my coffee budget and hold the ones paying me like a proper landlord king.
So, being the resourceful, scrappy person I am, I listed them myself first on LoopNet, aka the Wild West of commercial property listings where tire kickers and dreamers roam free.
(If you’re not familiar: LoopNet is like Tinder for buildings, lots of swiping, very few matches.)
After months of tumbleweeds, there were only two offers:
One came in at $1,000,000. A cool $700,000 under asking.
My reaction?
Lol.
Thanks but no thanks, sir. I pressed on with the stoic resilience of a man whose potato plant (Tater Not Tots) knows what it’s like to grow slowly, too.
Now, 10 months later, something happened:
The listing expired.
The text came from Derek, my longtime friend, former co-owner, and the guy who once trusted me not to burn down a maintenance department at Real Property Management Express.
He texted: “Hey man, your listing expired.”
I…didn’t respond at first. 🫠
But today, fueled once again by a dangerous amount of coffee and audacity, I made a decision:
I’m listing the ENTIRE portfolio.
That’s right.
All 16 units.
On the market. (Well, soon to be)
Ready to make some lucky investor feel like they won the rental property lottery (with none of the headaches of growing it from scratch).
Will it sell? Who knows.
Will I keep you updated? Absolutely.
Will Tater Not Tots be overseeing negotiations from his planter on the balcony? 🥔
You bet.
Stay tuned, and stay in motion. Things are just getting fun! ☀️