Editor’s Note: Multifamily foreclosures are a dime a dozen. But sometimes, it’s worth peeking under the hood to see how exactly a deal got there - the specifics can reveal a lot about how this business works. Today, one of the hotshots from The Promote Insider’s stable of expert writers, NPL investor Ed Bond, dives deep into an intriguing default by one of the classic archetypes – a social media business & self-mastery guru. It’s often these silver-tongued types who capture the imagination – and dollars – of the general public, creating the veneer of outsized success when reality might look quite different. Check out Ed’s other work for us, on the capstack chronicles of OKO Group’s One River. And consider signing up for The Promote’s premium tier if you want more stuff like this - HS 

By Ed Bond

“What if you began to see your life as a story?” - Jarek Tadla

You know the Sunbelt multifamily saga by now: rising rates, softening rents, and higher expenses, compounded by too much leverage. The latest victim is Jarek Tadla. For those unfamiliar, Tadla, a tonsured, muscular 50-something straight out of action-movie central casting, has 8M+ Instagram followers and a YouTube flock of nearly 100K. He is ubiquitous on the podcasting and self-betterment circuit, focused on wealth-building (inner and outer) and reinvention.

The problem with media, particularly podcasts, is that almost no one actually researches their guests. Tadla was touting a billion-dollar portfolio as of September ‘24. Public records, however, tell a much different story.

Insiders have already enjoyed Wednesday bangers such as our look at the Chinese equity providers still 🖋 checks; a snapshot of go-to financier King Street; Ares’ quiet bankrolling of an NYC hospitality secondaries deal, and Gary Barnett’s Philly special. Plus, Monday & Friday eds. often incl. Insider-only sections w/ those sweet deets that move the needle (like part of today’s Tadla breakdown). Founding Members pay $20/month. Information is oxygen, so sign up now and breathe easy.

In Duval County, Florida alone, 10 foreclosure complaints have been filed against Tadla-controlled entities. As of 11/19/25, here are the properties in litigation:

The foreclosure complaints were all filed this year and as recently as October. Most of the loans are Fannie/Freddie. The 10 properties have an LTC of 96%, which suggests Tadla uses the following strategy: Acquire ➡ Implement Value-Add Plan ➡ Boost valuation ➡ Cash-out refi

This strategy can work great for a strong operator using conservative debt. However, it can be a disaster when you’re overleveraged, and when property performance deteriorates. Tadla’s troubles aren’t particularly interesting in themselves – we’ve seen this story many times before. It’s what’s under the hood that makes it compelling. So let’s take a look. (Tadla didn’t respond to detailed requests for comment.)

A Rapidly Decaying Loan 🍅

As I scanned the foreclosures, Cimarron caught my attention because the loan went bad so quickly. The borrower, JJTA7 Real Properties LLC, made just 14 loan payments before it defaulted. This shouldn’t happen. Let’s review the property history and then the deal itself.

Cimarron Apartments (830 Arlington Dr. in Jacksonville) is your typical Class C multi: 112 units, built in ‘66. The Tadla-controlled buyer entity bought it in Apr. ‘21 for $8.5M (~$76K/ 🚪) and financed the deal w/ a $5.9M Freddie Mac loan via CBRE.

That comes to ~70% LTV/LTC, with Tadla kicking in at least $2.6M. W/o the loan docs, it’s hard to pinpoint exact structure, though we know that the goal here would be a refi. 

Between May ‘22 and June ‘23, the City of Jacksonville obtained 5 judgments against the sponsor for numerous code violations, which were dismissed that Sept. The following month, the sponsor was hit with more code violations, also settled and dismissed soon after. None of these were serious (more stuff like unsafe swimming pools, pest issues), but they tell us that upkeep was less than stellar – 10 judgments in 18 months is quite high.

In Nov. ‘23, Tadla refi’d the Freddie loan with a $10.3M Fannie loan originated by Arbor Realty Trust. This is the loan currently in default.

The foreclosure complaint includes key loan docs… (Insiders, read on 🔒 👇)