It's time for this month's epic newsletter! It's always crazy to me to look back just 30 days ago and see how far we've come and what all we've been able to accomplish. With a goal to reach $100MM AUM by 2023, we have no intent of slowing down acquisitions and have actually begun looking at even larger deals than ever before. Here's a sneak peak into what the last 30 days looked like & what the future holds for us from the lens of an Aircraft Technician, a Husband, & a Multifamily Operator...
Recent Happenings
For starters, we've gotten over 15,000 downloads on our podcast, Creative Capital, in just 30 days! That's insane! And it's all thanks to you guys for being avid listeners to the show. Thank you all so much for your continued support and feel free to reply to this email with new ideas on what you would like to hear about next!
We got to see the Blue Angels fly in Pensacola, FL right on the beach! It started raining on us, but we toughed it out and stayed to see our favorite pilots.
Check this beauty out! We completely finished our exterior capex to this property and have transformed it from Catherine Arms to Brixton Place. With the property officially rebranded and the exterior capex complete, we have begun setting ourselves up to attain market rents while creatively incorporating renter friendly security deposit options and a brand new RUBS model not previously utilized.
I even had the opportunity to change out an entire APU (Auxiliary Power Unit) on an A300-600 UPS Freighter and it only took me 12 hours to complete from start to finish! I was able to get this plane flying again and I'm not gonna lie, I was pretty proud of myself. An APU allows an aircraft to operate autonomously without reliance on ground support equipment such as a ground power unit, an external air-conditioning unit or a high pressure air start cart or huffer. It's what feeds the turbine engines bleed air so that they can spool up and light off for take-off. It also serves as a backup for electric & pneumatic power in-flight should the engines fail. Needless to say, it's pretty vital to the success of an airplane and I'm glad I was able to be the technician who could keep this aircraft flying safely!
As we're now 14 days into the Creative Capital Challenge, I've already had the privilege of raising over $700K from investors just like you! With a goal of raising $3MM in 30 days, I still have a ways to go, and if any of you are interested in growing your wealth passively or learning how to raise your own capital, schedule a call with me and let's chat!
Investment Opportunity
We don't currently have any open deals for funding, but that's not to say that this won't change at any moment. We are currently vetting multiple different deals and have been looking into other markets such as Dothan, AL & Birmingham, AL. If you know you want to invest in one of our deals, but aren't quite sure what to do next, the good news is, you are already signed up for our investor updates! Our next best recommendation for you is to sign up to be on our investor portal using the link above & get as liquid as possible while clearly defining to yourself what your investment criteria looks like. Do you even like the markets we invest in? (Southern Alabama) Do you like 50 units or less? 75 Units or higher? B or C Class? Value add or stabilized? 5 year flip for 2X equity multiples or lifetime cashflow in perpetuity? These are some of the questions you should be asking yourself so that you will fully understand what makes the most sense for you and your family when an opportunity should arise. It'll allow you to be much quicker in execution and will make sure that you don't miss out on any of our investment opportunities.
Lastly, here is a picture from an early morning beach walk my wife and I took together during this last month. The sheer beauty of this picturesque moment reminded me of what I'm even doing this for. I'm doing this so moments like this don't become a once in a lifetime piece of scenery because of the daily minutia of work, life, kids, marriage, church, band practice, cooking class, etc. and instead become a full embrace of the moment without worries of the future due to our ability to create financial freedom through real estate investments. Reminds me of my moto which is "The real benefit is in the lives changed of average people who discovered there was more to life than work. My life’s mission is to help people move from alive to thrive. So, I show, speak, and demonstrate to anyone I meet that life is worth living for and is meant to be lived abundantly."
Mobile, AL Market Data
City: 1. Mobile Downtown Airport will get some upgrades, thanks to a $4.8 million Federal Aviation Administration (FAA) grant awarded to the Mobile Airport Authority (MAA).
The grant is for the continuous rehabilitation of the concrete at the airport.
“Our pavement is decades old and a deliberate effort is underway to repair different sections as funding is made available,” Curry said.
A new terminal project is scheduled for completion at the airport in 2024, but it has the option to bring new airline service to the low-cost terminal earlier than that.
“There are always plans for new commercial service as we continue to communicate with the airlines for new and expanded service,” Curry said.
In addition, MAA is in the process of hiring a new program manager. With the assistance of airport staff, the program manager will be responsible for assembling and coordinating all phases of the terminal construction program.
U.S. Senator Richard Shelby announced eight airports in Alabama, including the Mobile Downtown Airport, will receive funds for airport improvements. Funds were awarded by the U.S. Department of Transportation.
Curry expressed appreciation to Shelby for his support and assistance in securing funding for the airport.
“This project is one more step in improving our facility for future commercial air service, our current tenants and potential economic development opportunities in our region,” Curry said. Real Estate: 1. An Airbnb host in Fairhope was named the company’s No. 1 Most Hospitable Host in Alabama. Rachel Clarke and her husband, Uli, have three listings — Silver Sail Airstream, Glamping Silver Bullet and Sanitized Fairfield Farm Cottage — on their Dominion Road property south of Fairhope near Weeks Bay, an easy walk away. An Airbnb report highlights the most hospitable host in each state, with the criteria of achieving a 100 percent rate of 5-star reviews in cleanliness, check-in and communication (with a minimum of 100 reviews). Clarke has over 300 reviews without once getting less than a 5-star review in those categories. “It has been incredibly fun and exciting to meet and host so many amazing people on our farm,” Clarke said. “So far, we have loved every single one of them.” The couple has owned the property for three years. They started with Airbnb about two years ago after renovating the cottage on the property as their home. But, after living in the barn loft over the horses, Rachel decided she didn’t want to live anywhere else. “So on a whim, we started the Airbnb experience in the cottage and it took off amazingly,” she said. “We just had the most interesting wonderful guests, one after the other.” After the cottage took off, they put their vintage camper on Airbnb, which became the glamping property. “We love it. We thought, ‘Why not give guests a chance to enjoy our farm in a more down-to-earth way?’” she said. Guests have a nice outside area, access to the greenhouse and an area to cook fresh meals. “After a few months that stayed booked, we added a locally bought Airstream to the mix, put a huge shade cover over it and the Silver Sail was born,” she said. Later, a pastor of an out-of-state church staying with his wife on a getaway thought it would be great to bring his whole church for a retreat. “We thought that to be such a great idea but we really needed a bathroom and a spot for them to sit,” she said. “So we added a little pole barn, which turned into a beautiful outdoor area for all our guests to use and even had a local cooking class.” The couple honed their hosting skills after experiencing “amazing” hospitality while traveling Australia for a year in a motorhome. They incorporate what they’ve learned for their guests. “We tried to pick a little from each of them — like fresh flowers and something to drink in the fridge for the first night and morning,” she said. So guests find plenty of coffee, milk and half-and-half. “I also make homemade blueberry muffins from the berries of our organic bushes, and there are always veggies and herbs guests can use,” she said. The blueberry muffins have been a huge hit with guests, and they’ll also find small toiletry items they may need during their stay. 2. The Baldwin County real estate industry is still experiencing a boost in total number of sales, which climbed by 53.2 percent from the year prior, according to Baldwin REALTORS Multiple Listing Service. The resort market experienced a drastic increase with June’s average sales price at $607,142, compared to $426,174 in June 2020. A total of 301 properties sold last month for the resort market, compared to 268 in June 2020. But due to higher sales prices, the sales volume increased by over $60 million. Average Days on Market also dramatically reduced from 98 in June 2020 to 37. A total of 738 traditional residential properties sold last month, compared to 601 in June 2020. The traditional market saw an average of 28 Days on Market, compared to 64 in June 2020, and an average sales price of $328,129, a 20.8 percent increase compared to June 2020. Business: 1. Gravity Island Watersports is making a splash as the first-of-its-kind wake park in Coastal Alabama. The wake park is located on a 14-acre lake in OWA’s Downtown entertainment district in Foley. First-timers or pros can work on their moves with instruction onsite from owner TJ Allen and operator Kale Troha. Designed by Pat Panakos and the Wake Park Project, Gravity Island Watersports uses high-quality UNIT ParkTech features that set it apart. The Sesitec 2.0 two-tower cable system is over 700 feet long and pulls riders by rope and handle. It does all the work for you. As the cable passes through four obstacles, including a kicker and pipe that offer an extra challenge for touring wakeboard professionals and the growing local scene. Qualified instructors guide and coach participants via a waterproof speaker attached to the safety helmet. Gear is available to rent at the Starting Dock for an add-on to your session, or bring your own. Each qualified trainer can guide beginners and first-timers on how to use the cable system to carve the water and even catch some air. They will also coach dedicated riders looking to grow their skill to the pro level. Crowds gathering for live music on OWA’s Island can now enjoy the mesmerizing talent on the water as it is situated where annual festivals and outdoor events are held. The wake joins the Aqua Play inflatable obstacle park as yet another place for guests to get stoked. Thrill seekers must be at least 6 years old and able to swim in order to qualify for a session on the wake park or the Union Aqua Play. 2. Master Boat Builders, Inc. will construct the first all-electric tugboat in the United States at its Coden yard for Crowley Maritime Corporation. This zero-emissions vessel, the eWolf, will set the standard for the new generation of innovation in sustainable shipbuilding and maritime operations in the U.S. and around the world. Construction of the eWolf will also create well-paid engineering, design and manufacturing jobs for workers in the Mobile area. The eWolf will have zero-emissions capability and autonomous technology that will benefit the environment and the safety of mariners and vessels, Master Boat Builders president Garrett Rice said. The eWolf tugboat will reach 82 feet in length with 70 tons of bollard pull and replaces a standard tugboat that may consume 30,000 gallons of diesel annually. The vessel will enter into operation at the Port of San Diego by mid-2023, where its batteries will be charged at a specialized shoreside charging station. The tugboat will integrate ABB’s autonomous technology to enhance navigation performance, safety and efficiency. Throughout this project, Crowley Engineering Services will provide design and on-site construction management services. 3. Austal USA held a keel-laying ceremony for the USS Augusta, Littoral Combat Ship 34 on Friday at the Austal shipyard in Mobile. The Augusta is the 17th of 19 LCS vessels the shipbuilder has under contract with the U.S. Navy. It is a high-speed, shallow draft, multi-mission ship capable of operating independently or in group. The ships are fast and maneuverable networked surface-combatants. Fourteen LCS vessels have been delivered to the Navy. In other Austal news, the company earned the Shipbuilders Council of America’s 2020 Excellence in Safety award. This is the 14th SCA safety award Austal has earned in its 20-year history, including awards the last seven consecutive years, making the company one of the safest shipyards in the United States. “At Austal USA, safety is at the core of our culture. Providing our workforce with the safest working environment possible is our No. 1 priority,” Austal USA interim president Rusty Murdaugh said. SCA’s Excellence in Safety award is based on a Total Recordable Incident Rate well below the respective Bureau of Labor and Statistics industry average for shipbuilding. Cancer Research: 1. USA Health Mitchell Cancer Institute is using Auris Health Monarch, a state-of-the-art robotics system to help diagnose lung cancer quickly and accurately in a single procedure. The robotics system enables physicians to see inside the lung, then biopsy hard-to-reach nodules using a flexible endoscope. When combined with Rapid On-Site Evaluation Pathology, it provides a diagnosis at the time of the bronchoscopy. “Lung cancer is the No. 1 cause of cancer deaths worldwide, partly because it is often diagnosed at an advanced stage,” said Brian E. Persing, MD, a medical oncologist at the Mitchell Cancer Institute and an assistant professor of interdisciplinary clinical oncology at the University of South Alabama College of Medicine. “These new technologies give us the tools we need to perform state-of-the-art bronchoscopies and diagnose lung cancer earlier.” During the robotic-assisted bronchoscopy, the endoscope is inserted through the mouth of the sedated patient and into the lung using a computer-assisted controller, cameras and GPS navigation based on 3D models of the lung. Having tissue tested during the procedure often eliminates the need for a second bronchoscopy. USA Health works with Pulmonary Associates to offer a comprehensive lung cancer program, providing a multidisciplinary team to diagnose, assess and treat lung cancer based on individual patient needs. Summary That's all we got for this month! Stay tuned for continued updates on all things happening with us and as always, God Bless!