An example might be a commercial tenant with 50% of the space in a building sends an after-letter notice that it now plans to vacate at the end of its lease term in 6 months.

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Over the years every single time I went over his house to hang out we would talk about money, investing and the future we were building.

But my experience over the last 10 years of building new homes is that NOTHING comes down might stay the same but will rise almost annually Like Cement always goes up in Jan. 

Building strong relationships with lenders is critical and the easiest way to do that is to be easy to work with. 

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

Then, start building your connection with local agents, contractors and property managers.2. 

My goal is to build a successful flipping business while keeping family time a top priority.

Regardless of how a certain asset class is doing, an investor like yourself can ALWAYS find a good deal in any type of property.Now, my general suggestion for all of my CFO clients is the gradually move up the unit spectrum/asset type as you build up your portfolio.

Beyond that, the joy of building something meaningful is priceless.3.Be prepared for isolation.