What we produced
Track record
Seventeen realized sales in Arizona since 2012 and eight assets held today. Purchase and sale prices, documented improvements and the most recent third-party appraisal on each, with the gross cash flow the portfolio has produced each year since 2017.
Properties held
| Property | Market | Bought | Improvements | Most recent appraisal |
|---|---|---|---|---|
| Valley Vista | Paradise Valley, AZ | $3,300,000March 2022 | Phase 1 renovation 2026; being documented | $7,700,000September 2026 · as-is¹ |
| 2913 N 75th Place | Scottsdale, AZ | $572,500October 2016 | Being documented | $2,700,000December 2025 · as-is |
| Sunset | Phoenix, AZ | $1,925,000April 2022 | $686,661 capitalized to date | $10,500,000August 2025 · subject to completion per plans² |
| 2919 N 75th Place (land) | Scottsdale, AZ | $201,400October 2017 | — | Not appraised |
| Greenleaf Inn | Boothbay Harbor, ME | $1,150,000³April 2023 | $437,671 (2023–2025) | $2,225,000December 2025 · as-is |
| Admiral's Quarters | Boothbay Harbor, ME | $1,150,000³April 2023 | $347,234 (2023–2025) | $2,300,000December 2025 · as-is |
| Welch House | Boothbay Harbor, ME | $1,842,500April 2026 | Renovation in progress | $3,280,000December 2025 · as-is⁴ |
| Valerie's Inn | Boothbay Harbor, ME | $840,000September 2026 | — | Not yet appraised |
¹ Valley Vista also appraised at $7,925,000 (January 2026). Another 2026 appraisal of this property reached a lower value and is under reconsideration. The full appraisal history is available to verified investors.
² Sunset is in design and permitting. The appraisal values the 9,627 square foot house as if completed to the plans of that date (the architect's plan has since been updated, October 2026); the same report's opinion of site value today is $3,000,000. No contractor budget exists yet for the current design.
³ Greenleaf Inn and Admiral's Quarters were bought together for $2,300,000; each property's tax return allocates half. Improvements are capital improvements on each property's 2025 federal tax return.
⁴ The Welch House appraisal is dated before the April 2026 purchase and was prepared for the lender. The same appraiser's as-complete value is $4,030,000 (June 2026).
Realized · 2022–2024
| Property | Market | Bought | Improvements | Sold | Price change |
|---|---|---|---|---|---|
| 6131 E Kings Avenue | Scottsdale, AZ | $415,000July 2017 | Not shown | $1,520,000June 2022 | 3.66× · 30% a year |
| 8022 N 47th Street | Paradise Valley, AZ | $3,000,000December 2022 | Not shown | $3,750,000October 2023 | 1.25× in 10 months |
| 11505 E Cochise Drive | Scottsdale, AZ | $2,860,000March 2022 | Not shown | $4,400,000June 2024 | 1.54× · 21% a year |
Revenue
What the portfolio has collected
Gross cash flow by year
2017–2025 · all properties operatedGross cash flow fell to $346,051 in the pandemic year and has grown to $1,912,460, 5.5× off the low in four years. The recovery reflects both demand normalisation and a materially different portfolio: larger assets, repositioned properties and a rebuilt revenue base. Includes properties since sold. Unaudited, as reported by the sponsor. 2025 gross rents on the filed federal tax returns (Form 8825): Greenleaf Inn $356,646 · Admiral's Quarters $444,230; Valley Vista 2025 gross booking revenue on its rent roll, $638,649.
Earlier record
Fourteen realized sales, 2012 to 2020
Purchase and sale prices as reported by the sponsor. Improvements and carrying costs are not shown, so the change column is price only, not a return. Before Arizona, the family developed Spring Acres Hills, a custom-home community in McHenry County, Illinois.
| Property | Held | Purchase price | Sale price | Price change |
|---|---|---|---|---|
| 4805 N Dromedary Rd, Phoenix | Dec 2015 – Nov 2019 | $2,200,000 | $2,500,000 | 1.14× · 3% a year |
| 8210 E Del Cristal Dr, Scottsdale | Jul 2016 – Jun 2017 | $627,000 | $1,050,000 | 1.67× in 11 months |
| 5922 E Sandra Terrace, Scottsdale | Oct 2014 – Dec 2019 | $425,000 | $790,000 | 1.86× · 13% a year |
| 5714 E Paradise Ln, Scottsdale | Aug 2016 – Jul 2019 | $420,000 | $760,000 | 1.81× · 23% a year |
| 15802 N 63rd St, Scottsdale | Jan 2016 – May 2016 | $445,500 | $760,000 | 1.71× in 4 months |
| 12638 N 71st St, Scottsdale | Jul 2013 – Apr 2014 | $447,000 | $750,000 | 1.68× in 9 months |
| 6132 E Kings Ave, Scottsdale | Aug 2013 – Jun 2018 | $380,000 | $650,000 | 1.71× · 12% a year |
| 6034 E Kings Ave, Scottsdale | Jun 2013 – Nov 2013 | $395,000 | $587,500 | 1.49× in 5 months |
| 7912 N 16th Dr, Phoenix | Apr 2013 – Sep 2013 | $413,500 | $540,000 | 1.31× in 5 months |
| 17211 N 58th St, Scottsdale | Dec 2012 – Mar 2013 | $320,000 | $489,000 | 1.53× in 3 months |
| 16011 N 49th Pl, Scottsdale | Mar 2013 – Jul 2013 | $344,000 | $450,000 | 1.31× in 4 months |
| 422 E Monte Cristo Ave, Phoenix | Jun 2014 – May 2018 | $296,000 | $445,000 | 1.50× · 11% a year |
| 5518 E Waltann Ln, Scottsdale | Dec 2012 – Mar 2013 | $220,000 | $387,500 | 1.76× in 3 months |
| 5222 E Monte Cristo Ave, Phoenix | Jul 2012 – Oct 2012 | $275,409 | $355,000 | 1.29× in 3 months |
Basis of figures. Purchase and sale prices for the 2022–2026 transactions are the contract prices on each transaction's settlement statement (for 2913 and 2919 N 75th Place, the escrow agent's closing statement marked estimated). Prices for 2012–2020 are as reported by the sponsor and are being re-verified against their settlement statements. Improvements are shown only where a filed federal tax return or the books document them; where they are not shown, the difference between a purchase price and a sale price is not profit.
Price change per year. The multiple and the annual rate compare sale price to purchase price only, compounded over the months held. They exclude improvements, carrying costs, financing costs and selling costs, and they are not an internal rate of return on equity. Positions held less than twelve months show the total change, not an annual rate.
Appraisals. An appraisal is an appraiser's opinion of market value at a stated date, usually prepared for a lender. It is not a sale price and not a promise of value. Different appraisers have reached different values for the same property. A value marked subject to completion describes a building that is not yet finished.
Realized and unrealized. Realized figures come only from closed sales. Held properties are shown at appraisal, which is not a gain until the property is sold. The two are never added together.
Partners. Some properties are or were owned with partners, and several 2012–2020 transactions were partial interests. Figures describe the whole property, not the sponsor's share.
Gross cash flow. The chart shows gross cash flow from all properties operated in each year, as reported by the sponsor, before operating expenses, debt service and taxes. It includes properties since sold. Figures are unaudited.
Past performance is not indicative of future results.
This page is for information only. It is not an offer to sell, or a solicitation of an offer to buy, any security. Any offering will be made only to accredited investors whose status has been verified, only through definitive offering documents, and only under Rule 506(c) of Regulation D or another available exemption.
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This site is a summary. Property schedules, appraisals, debt and financial statements are shared only with accredited investors, on request. Access to detailed information is limited to accredited investors as defined in Rule 501(a) of Regulation D. Before any investment we will verify accredited status, which may require documents or a letter from a CPA, attorney or registered adviser. Requesting access does not create any obligation on either side.