Strategy Room
Investment thesis, capital stack, and execution roadmap for Truly Dunwright
Sell / Hold Recommendations
Property-by-property analysis
| Property | State | Est. Value | Recommendation | Rationale |
|---|---|---|---|---|
| Humboldt River Ranch Parcel | Nevada | $6,500 – $9,500 | HOLD | Low carry cost ($327.61/yr). Off-grid/RV demand rising. Strong appreciation thesis — hold 2–5 years. |
| Memphis Shelby County Lot 1 | Tennessee | $4,000 – $8,000 | KEEP | Memphis R-6 infill lot — potential new-construction value. Low taxes. APN confirmed. Hold for builder sale or land contract. |
| Shelby County Lot 2 | Tennessee | $3,000 – $8,000 | LIST NEXT | APN unconfirmed — verify immediately, then list at $4,500 cash / $6,500 OF. Second disposition after Lamar TX. |
| Lamar County Texas Parcel | Texas | $2,000 – $6,000 | LIST NOW | Paid off. No liens. Fastest path to capital. Facebook Marketplace + LandWatch at $4,900 cash / $7,900 OF. |
| Smith County Texas Parcel | Texas | $5,000 – $15,000 | HOLD | ~1hr 28min from Dallas. Dallas metro expansion = strong appreciation. Hold 3–7 years for max upside. |
Capital Stack Plan
Path from land proceeds to first duplex
Key insight: After selling Lamar TX ($4,900) + Shelby Lot 2 ($4,500), you have $9,400 in hand. The gap of ~$19,200 to the full down payment target can be bridged with a DSCR lender requiring 20% ($28,600), seller financing negotiation, or a private lender co-investment. With FHA owner-occupied (3.5%), the down payment drops to just $5,005 — easily covered by land proceeds alone.
BRRRR Plan — 501 SW 34th St, San Antonio TX
Buy · Rehab · Rent · Refinance · Repeat
STR / MTR Strategy
Short-term and mid-term rental markets
Mid-term rentals (30–90 day stays) are the sweet spot — less regulation than STR, higher revenue than LTR. Target markets with strong demand drivers: military relocation, medical travelers, remote workers, and tourism.
Financing Options
Compare structures for first acquisition
Owner-occupied required. Live in one unit, rent the others. Best for first-time buyers or owner-occupants. Low down payment.
No income verification — qualifies on property cash flow. Ideal for investors. Available on multifamily 2–4 units.
12–24 months of business/personal bank statements used instead of W2s. Great for self-employed or business owners.
Direct deal with motivated seller. No traditional lender. Structure as land contract or owner-carry mortgage.
Use investor capital for short-term bridge or equity partnership. Higher cost of capital but fast and flexible.
Tax Strategy Notes
Preserve capital and maximize after-tax returns
Accelerate depreciation on multifamily by classifying components (flooring, fixtures, landscaping) as 5, 7, or 15-year assets. Can create significant paper losses in Year 1.
Residential rental property depreciates over 27.5 years. A $143K property generates ~$5,200/yr in depreciation — offsetting rental income.
When selling Lamar TX or Memphis lots, explore 1031 exchange to defer capital gains taxes by rolling proceeds into like-kind investment property.
Hold each property in a separate LLC or series LLC (if Texas allows) to segregate liability. Consider a management LLC for operations.
Material participation in STR (750+ hrs/yr) can unlock real estate professional status, allowing losses to offset ordinary income — a major tax benefit.
If any acquisition targets fall in Opportunity Zones, gains can be deferred and potentially excluded. Check IRS OZ map for San Antonio targets.
⚠️ Consult a CPA or tax attorney before implementing any tax strategy. The above is informational only.
International STR Markets Await
After stabilizing a US portfolio of 3–5 multifamily units generating consistent cash flow, the next phase expands into international STR markets: Belize, Bali, Dubai, Portugal, and more.
View Global Roadmap →