The full recording and companion notes from the third live investor presentation on May 19, 2026. New this session: how the asset performs through a downturn, a transparent walk-through of the physical due diligence (roof, HVAC, electrical), full-cycle track record, and the on-site and surrounding amenities.
The complete unedited recording. Kirk, Claude, and Fedna walk through the asset and the business plan, then field a live Q&A covering recession resilience, physical due diligence, full-cycle track record, and the surrounding amenities.
Asset Snapshot
| Property | Harmony Grove Apartments |
| Location | Marietta, GA Cobb County |
| Total Units | 75 |
| Unit Mix | ~53% 2-bed, ~30% 1-bed, ~16% studio |
| Condition | 100% classic / unrenovated |
| Occupancy | 97% (5-year floor: 94%) |
| Distance from Atlanta | 15 minutes |
Capital Stack & Debt
| Loan Type | Fixed-rate agency (Fannie Mae / Freddie Mac) |
| Mortgage Rate | 6.25% fixed (5-year term) |
| Amortization | 30 years |
| Loan-to-Value | ~70% |
| Renovation Budget | ~$1.0M + 10–15% contingency |
| Working Capital Reserve | ~$155,000 |
| Minimum LP Investment | $100,000 |
Rent Strategy
| Metric | Value |
|---|---|
| Current Average Rent | $1,092 |
| Today's Market Rent (Comparable Properties) | $1,435 |
| Rent Premium per Renovated Unit | ~+$175/month |
| Washer/Dryer Rental Program (per unit) | ~+$50–$55/month |
| Existing Manager's Planned Renewal Increase | ~+$75/unit at lease renewal |
| Renovation Scope | ~50% of units at ~$12,000 per unit |
| New Revenue Streams (Other Income) | Trash fee (~$28/mo), pest control (~$5/mo) |
Exit Sensitivity (5-Year Sale)
| Scenario | Sale Price | Annual IRR | Cap Rate |
|---|---|---|---|
| Base Case | ~$13.59M | ~20% | Holds at 5.6% |
| Best Case | ~$14.36M | ~23% | Compresses |
| Worst Case | ~$12.68M | ~16.86% | Expands |
The team and their general contractor opened every door, turned on every faucet, looked at every electrical panel. Here is what the inspection produced and how the renovation budget already accounts for it.
Two investment classes accommodate different goals. Class A is for investors prioritizing cash flow today; Class B is for investors prioritizing wealth growth over the 5-year hold.
| Class A | Class B | |
|---|---|---|
| Preferred Return | 11% / year | 7% / year |
| Priority of Cash Distributions | Priority paid before Class B | Behind Class A |
| Share of Profits at Sale | Not entitled to upside | 70% of profits |
| Target Annual Rate of Return | ~11% | ~20% |
| Equity Multiple (5-yr hold) | Capital preservation + yield | ~2x ($100K to ~$201,781) |
| Best For | Cash flow today | Long-term capital appreciation |
Sample 5-Year Pathway for $100,000 in Class B
Year 1 distributions are modest (~$2,300) because renovation is capital-intensive; year 2 steps to ~$4,700. Beginning in year 3, distributions reach the full $7,000 and begin catching up on the deferred amounts from years 1 and 2. At sale (~year 5), Class B receives its split of the profit. Total projected outcome: approximately $201,781 doubling the original $100,000, before adding the year-1 K-1 tax benefit of approximately $35,000.
The renovation is sequenced to protect occupancy and tenant goodwill while creating visible value at the asset. Exteriors first, interiors second residents feel the upgrade before any rent conversation arrives.
Every question fielded during the live session, restructured for clarity. Where multiple panelists answered, their contributions are stacked in the order they were given.
Strategic Partners
Our strategic partners at XSITE Capital bring institutional multifamily expertise and a track record of disciplined operations across the Southeast.
The cash flow portal has the offering documents, the due diligence video, and the soft commitment form. Book a call with Dr. Campbell if you want to walk through any assumption line by line.