Three businesses at once, in two countries, for eight years.
A 300-capacity music venue with a full staff in Portland, Maine. Fifteen rental units — seven short-term, eight long-term — across the United States and México. Four buildings bought, renovated and sold. Not one after another. All of it live in the same week, with separate P&Ls, separate tax and licensing regimes, and separate failure modes.
For four years I flew to Mérida almost every month to run renovations, then went back to the venue and the U.S. buildings in between. I bought in South Portland while Portland was the market everyone wanted, and in Progreso and Mérida before either was on a list. Every building ran above a ten percent cap rate while I held it — the market moves the exit price, it does not move the cap rate.
- 2021A four-unit I converted into a five-unit. Profitable throughout, sold after three years of ownership for a large six-figure gain.
- 2022A three-unit on long-term tenancies. The market I bought into did not develop for the first three years — I ran it above a ten percent cap anyway, on long rents alone, which is the hard way to get there. It turned the year before I sold. We were moving to México, and of everything I was already running from a distance, this was the one I chose to let go. Two and a half times the purchase price.
- Oct 2024A four-unit run as three short-term units and one long-term tenancy — profitable in operation, and the last of the U.S. buildings. Sold at two and a half times the purchase price.
- Jan 2026A Mérida duplex that had already paid for itself. When the market saturated and revenue softened, I sold it at twice what I paid.
| At peak | A 300-capacity venue + 15 units, 2 countries |
|---|---|
| Delivered | 4 sales, all profitable 2.5×, 2.5×, 2× and a six-figure gain |