No, this episode doesn't contain any ghosts or haunted houses – but you might wish it did. Today's guest is K. Trevor Thompson, who has a 50-year career as a highly successful VP, has invested in 17 deals as an LP, and most recently, a GP on a 240-unit in San Antonio. But early on in his career, he joined as a Limited Partner on a 170-unit deal that quickly turned into a nightmare. Join us as he shares his struggle to keep the property afloat, despite the numerous poor financial decisions surrounding this deep value ad that was way off-budget, running out of money, and dealing with the struggles of workforce housing in the middle of COVID. We discuss the gross mislabeling of the asset class of the property, a reality that was impossible to rectify or rebrand, and some proactive solutions he found in trying to support the tenants amid some truly dangerous situations. From repeated mismanagement that resulted in their CapEx essentially pouring down the drain, to having his life and the lives of his family threatened, this horror story is straight off of Elm Street. To hear about these hard-won lessons on underwriting, and the top advice that he has to share so that you can be spared a learning curve like this, tune in today!
Key Points From This Episode:
Links Mentioned in Today’s Episode:
K. Trevor Thompson on LinkedIn
Asset Management Mastery Facebook Group
