It would cost me only $2300 per month which includes rent utilities furnishing and property management. she showed me one example only of a customer who profited greatly.

The low purchase price, combined with an established market demand, made this an ideal transaction for a fast turnaround and profitable outcome.

Made a decent profit for my first experience Lessons learned?

I am looking to begin the process of a 10+ year plan to build out a sustainable REI enterprise which would ultimately provide me with significant passive income and net worth to make a legacy business for my family.

Was sold above the asking price                   within days of listing.High ROI: Achieved a 50% return on investment due to low renovation costs and increased sale price.Investor PerspectiveRecognized the potential others overlooked by seeing beyond the property's initial appearance andm aximized profits by investing wisely in visible, impactful areas.

Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.

**As investors, you are closest to the consumer (home buyers/renters), so you tend to absorb costs and reduced profits from unexpected spikes in expenses that wholesalers or contractors pass on to you!

Property managers have established vendor relationships and can handle issues quickly.Cons of Hiring a Property Manager❌ Lower Profit Margins – Management fees (typically 8-12% of monthly rent) eat into your cash flow, which can be a dealbreaker if your margins are tight.❌ Less Control Over Tenants & Maintenance – You won’t be as involved in selecting tenants or overseeing repairs, which might lead to decisions you wouldn’t have made yourself.❌ Not All Property Managers Are Great – A bad property manager can neglect your property, overcharge for repairs, or poorly handle tenant relations, leading to unnecessary headaches.Which Option Is Right for You?

If the land is in a suitable location, this could open up opportunities for developing 2 homes or even selling off one of the lots, which could lead to a good profit.

What was your upstart expenses and do you consider it a profitable endeavor or something that just waste time?