Good morning, Dennis

Friday, June 12 · 3 items flagged
LensAll companies
DG
RCPM brief · across all four companies
3 items flagged today. Net $120K month-to-date, 2.4× debt coverage. 2 A-tier owners holding cash and acquiring outside the portfolio.
Units managed
1,047
▲ +44 acquired
Occupancy
94.1%
▲ 0.6 pts
Revenue MTD
$275K
▲ 3.1%
Cash / debt svc
2.4×
covered
Open work orders
47
11 aging
New leads
63
▲ 18

Needs you today

3 items
HVAC replacement pending approval — Tanner, 540 Govt St unit 3
Quote pending 4 days. Owner has 3 units vacant 45+ days; only at-risk account on the book. $61K/yr account.
Trigger: rising churn risk on at-risk owner
19 Drake Ave flip — 9 days behind, $4.2K over
Only off-track project. Revised scope pending sign-off; carry cost accruing against margin.
Source: JobTread — schedule and budget both breached
Two owners showing expansion signals
Calhoun Capital and Redstone both holding cash and buying outside the portfolio.
Trigger: rising cash balances and recent outside purchases
No open items today. This part of the business has no flagged actions.

Companies

This month
Property ManagementRecurring revenue · 1,047 units
94.1% occ
$138K rev
Strong
Total MaintenanceService operations · 47 open WOs
$96K billed
38% outside
Watch
FlipsCapital projects · 6 active
$612K deployed
5/6 on time
Watch
HoldingsBuy & hold · 34 doors
$3.8M equity
2.41× DSCR
Strong

Cash & capital

Live
Operating cash
$284K
Monthly debt service
$118K
Borrowable equity
$1.6M
Receivables (30d)
$39.4K

Activity

Auto-logged
7:41a
12 Pine Ct water heater job completed→ QuickBooks
Yest
New lead — 22-door commercial portfolio, HuntsvilleReferral
Yest
Redstone renewal signed, 2 units above pro-formaAppFolio
Mon
Magnolia PM acquisition — 44 units onboarded to rent rollAppFolio
Mon
88 Oakwood make-ready scheduled — 3 unitsJobTread
Occupancy
94.1%
▲ 0.6 pts
Vacant units
62
of 1,047
Delinquent
$39.4K
28 tenants
Renewals due (60d)
23
▸ offers ready
All unitsVacantDelinquentNoticeMake-ready
Property / UnitOwnerTenantRentBalanceLease endsStatus
214 Maple St · 2
Calhoun CapitalR. Pruitt$1,450$0Mar 2027Occupied
88 Oakwood · A–C
3-unit turn
Redstone—$4,050$0—Make-ready
12 Pine Ct
Bridge StreetD. Alvarez$1,675$0Aug 2026Occupied
540 Govt St · 4
Tanner (priv.)vacant 48d$1,200$0—Vacant 45+
540 Govt St · 7
Tanner (priv.)vacant 51d$1,200$0—Vacant 45+
540 Govt St · 3
HVAC replacement pending
Tanner (priv.)vacant 46d$1,200$0—Vacant 45+
143 Conception St
Tanner (priv.)K. Mills$1,375$2,750Jun 2026Delinquent
71 Birch Ln
Calhoun CapitalS. Reyes$1,895$0Nov 2026Occupied
330 Cedar · 1
RedstoneT. Booker$1,540$1,540Jul 2026Delinquent
330 Cedar · 2
RedstoneM. Hahn$1,540$0Sep 2026On notice
8 Sumac Dr
Bridge StreetJ. Okafor$2,150$0Jan 2027Occupied
No units match this filter.
Open work orders
47
11 aging >7d
Awaiting approval
1
Tanner HVAC
Billed MTD
$96.4K
▲ MTD high
Unbilled labor
$9.1K
not yet billed
AllNeeds approvalIn progressScheduledReady to bill
WOPropertyIssueTechAgeEst.Status
#4821
Tanner · 540 Govt 3HVAC replacement
Waiting on your approval
—4d$6,400Approval
#4833
214 Maple · 2Roof leak, activeHector2h$850Triaged
#4790
Calhoun · 71 BirchFaucet + fixturesDale1d$320Scheduled
#4756
Redstone · 88 OakwoodTurn — 3 unitsCrew B3d$5,200In progress
#4712
Bridge St · 12 PineWater heaterDale5d$1,150Ready to bill
#4688
Investor · Govt StReno quote (outside)
No reply 8 days — follow-up queued
—8d$18,400Quoted
#4654
330 Cedar · commonLighting + locksHector9d$540In progress
#4602
8 Sumac DrDishwasher swapDale12d$610Ready to bill
No work orders match this filter.
Active flips
6
2 markets
Capital deployed
$612K
at work
On budget
5 / 6
1 over
Proj. margin
$214K
blended
19 Drake AveFull rehab · Phase 3 of 4
Behind
Schedule9 days behind
Budget$142K · +$4.2K over
Target sale$219K · Aug
402 HillcrestCosmetic flip · Phase 2 of 3
On track
ScheduleOn time
Budget$78K · on budget
Target sale$148K · Jul
15 RidgewayFull rehab · Phase 1 of 4
On track
ScheduleOn time
Budget$96K · on budget
Target sale$172K · Oct
7 Marigold LnCosmetic flip · Phase 3 of 3
Punch list
Schedule2 days ahead
Budget$54K · under
Target sale$119K · Jun
Doors owned
34
12 properties
Portfolio value
$9.1M
▲ est.
Equity
$3.8M
58% avg LTV
Borrowable
$1.6M
at current LTV
PropertyDoorsEst. valueLoan balanceEquityDSCRStatus
Maplewood Court
8$1.92M$1.05M$870K2.6×Performing
Cedar Row
6$1.41M$880K$530K2.2×Performing
Birch & 5th duplexes
4$760K$410K$350K2.8×Performing
Sumac SFR portfolio
9$2.34M$1.46M$880K2.3×Performing
Dauphin St mixed-use
7$2.63M$1.42M$1.21M1.9×Watch
Active owners
31
tracked
Expansion signals
2
A-tier
At risk
1
$61K/yr
Avg tenure
6.6 yr
retention
All ownersExpandAt riskNurture
OwnerDoorsOccupancyAnnual revLast contactStatus
Calhoun Capital Group
since 2019 · holding $1.1M cash
4896.5%$214K11 days agoExpand
Redstone Holdings LLC
since 2021 · 1031 window open
3193.1%$138K4 days agoExpand
Bridge Street Partners
since 2023 · 9 doors
9100%$44K3 weeks agoNurture
M. & L. Tanner (private)
since 2016 · 3 long vacancies
1478.6%$61K6 weeks agoAt risk
Hollis Family Trust
since 2018
2295.0%$97K2 weeks agoHold
No owners match this filter.
New leads MTD
63
▲ 18
Auto-responded
100%
< 2 min
Converted
14
22%
Top source
Referral
41%
AllNewQualifiedWon
LeadTypeSourceEst. valueLast touchStage
22-door commercial portfolio
Huntsville
PM takeoverReferral · Calhoun$58K/yrCall bookedQualified
Investor flip inquiry
Madison Co.
FlipWebsite form$40KReplied 41sNew
6-unit maintenance contract
outside payable
MaintenanceGoogle$22K/yrQuote acceptedWon
Small PM portfolio
Nashville
PM takeoverWord of mouth$31K/yrNurture seq.Qualified
Facilities maintenance — gov contract
Redstone Arsenal area
Gov contractPast performance$140K/yr2 days agoNew
No leads match this filter.
Revenue MTD
$275K
▲ 3.1%
Net MTD
$120K
▲ 5.4%
Operating cash
$284K
2.4× debt svc
Receivables 30d
$39.4K
28 tenants

Consolidated — by company

Month to date · from QuickBooks
CompanyRevenueExpensesNetMarginTrend
Property Management
$138K$54K$84K61%
Total Maintenance
$96K$71K$25K26%
Holdings (net rents)
$41K$30K$11K27%
Flips
realized at sale
—$0——
Consolidated$275K$155K$120K44%—