Happy New Year!
Although the holiday season brought its own unique rhythm, Courtyard Sihe Partners maintained a productive and impactful quarter. This update includes a review of our Q4 highlights, challenges, and financials, as well as a high-level reflection on 2024 and our targets for the year ahead.
Mission Statement
Courtyard Sihe Partners renovates multi-family apartments in historic American cities like Cleveland, OH, to provide quality, affordable housing.
Highlights
- Operational Improvements with Realty Now:
- Rented two additional units: one at Folsom and one at St. Clair.
- Achieved 100% rent collection for tenants expressing a long-term commitment.
- 4 tenants paid in full before the 10th of January.
- Team Growth:
- Onboarded Raven, my new personal assistant, who is thriving in her role. She brings strong critical thinking, attention to detail, and accountability—key traits identified during the hiring process. Raven has entered her fourth month on the team.
- Process Enhancements:
- Migrated financial dashboards from the “Unit Tracker” template to the “Pulse Report” framework, inspired by Gino Wickman’s Entrepreneurial Operating System and Zen Coast University principles. Raven updates this weekly.
- Advanced Underwriting Practice:
- Initiated advanced deal-sizing exercises with investor colleagues to prepare for larger commercial projects.
Lowlights
- Seasonal Slowdown:
- Holidays impacted operational momentum—though it’s a reminder to keep a balanced perspective on life and work.
- Evictions in Progress:
- Two evictions remain active (one at Folsom, one at St. Clair). Both are targeted for completion by the end of Q1, allowing us to lease up and stabilize all eight units.
- Tenant Withdrawal:
- A Folsom tenant backed out after paying a deposit. We refunded the deposit, ensuring goodwill and minimal disruption.
- Rent Levels:
- Two recently rented units achieved slightly lower-than-expected rents. We prioritized tenant quality and speed of occupancy over maximum rental rates, maintaining a healthy rent-to-purchase ratio.
- Upcoming Renovations:
- Significant renovations are planned, including a new furnace for St. Clair. We anticipate executing $35,000 in improvements over the next few weeks.