Peter E.: Three-property portfolio, Shady Shores TX and Santa Rosa Beach FL

The properties

Market	Bedrooms	Purchase price
Shady Shores, Texas	5BR	$949,000
Santa Rosa Beach, Florida	4BR	$1,100,000
Santa Rosa Beach, Florida	4BR	$1,150,000

The deal numbers

Straight from the client deal tracker: what it cost to get in, and what it returns.

Florida Panhandle (30A) · 2025

Purchase price$1,150,000
Down payment$287,500
Closing costs$70,500
Design and furnishing$34,660
Total entry cost$392,660
Annual cash flow$16,349
Cash-on-cash return6.52%

Florida Panhandle (30A) · 2026

Purchase price$1,140,000
Down payment$228,000
Closing costs$45,600
Design and furnishing$133,544
Total entry cost$407,144
Annual cash flow$4,602
Cash-on-cash return1.84%

The tax position

Purchase price$3,199,000
Typical cost seg reclassification25% of price
Illustrative year-one deduction$799,750
Illustrative tax reduction at 40%$319,900

An illustration, not this client's return: 25% of price reclassified at a 40% marginal rate, the same assumptions as our calculator. Your number depends on your study, your rate, and meeting the seven day and material participation tests. We are not a CPA firm.

The full story

Peter is an Associate Partner at IBM. He is the client this business is actually built for: a high earner with a demanding career, a tax bill that grows every year, and no interest whatsoever in becoming a full-time real estate operator on nights and weekends.

He has now closed six properties with us across four years. Three of those closed in 2023 and 2024, and three more are planned across 2025 and 2026. The three most recent are a five-bedroom in Shady Shores, Texas at $949,000, and two four-bedroom properties in Santa Rosa Beach, Florida at $1,100,000 and $1,150,000.

A repeat buyer is the only unfakeable metric in this industry. Anyone can produce a testimonial from a first purchase, because at closing the client has nothing but optimism and a set of projections. Nobody buys a second property from a firm that got the first one wrong, and nobody buys a sixth unless the first five performed close enough to the model that the process itself has become boring.

The portfolio also shows the diversification logic we push on multi-property clients. Shady Shores is a Dallas-Fort Worth lake market with a metro-driven weekend guest base. Santa Rosa Beach is a Gulf Coast beach market with a very different seasonal curve and a very different guest. When a hurricane season or a regional economic wobble hits one, the other is generally unaffected. Buying three properties in the same submarket is not a portfolio, it is one bet written three times.

For a client at Peter's income level, the tax structure is doing as much work as the cash flow. Each acquisition paired with a cost segregation study produces a first-year deduction large enough to matter against W-2 income, provided the seven-day average stay and material participation tests are met for that year. That is the mechanism that lets a portfolio compound this fast without the client leaving IBM.

Questions about this deal

How many properties has Peter E. bought with BNB Accelerator?

Six across four years, with three closed in 2023 and 2024 and three more planned for 2025 and 2026.

Why does a repeat buyer rate matter more than a testimonial?

A first-purchase testimonial is collected at closing, before the property has performed. A repeat purchase is collected after the client has lived with the outcome for a year or more. About 80% of our clients buy again.

Should a multi-property investor buy in the same market?

Generally no. Concentrating in one submarket means one regulatory change, one hurricane season, or one supply glut hits the whole portfolio. Peter's properties span a Texas lake market and a Florida Gulf beach market, which have different seasons and different guest bases.

An IBM Associate Partner on his sixth property with us