My initial thoughts were to do a free survey site and send it to the resident and then if it generates a 4 or 5 star create a zap with zapier to automatically send an email or text to leave a google review as well?

I’m beginning my journey into real estate investing with the goal like many of you of generating passive income and discovering financial freedom without having to rely on a “day-job” for much longer, so I can travel more and spend more time with my young kids/family.

Lower-income renters tend to generate significantly higher maintenance and turnover costs.

A property may look good on paper in terms of appreciation but might not generate enough cash flow to cover expenses and build long-term wealth.Not Having a Backup Plan:If something goes wrong in any phase, such as a longer vacancy period or higher renovation costs, it can disrupt the whole strategy.

If someone does the work to generate a meaningful question, I wish there was more respect given to those folks. 

General goal I see with most buyers is to generate a cash flow return, build equity, and have tax savings.

How much money do you plan to generate from this rental and do you plan to get more in the future?

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

You’re not alone in that.Let’s break down a couple of things:Your Home: Renting it out could generate cash flow, or selling might give you funds to reset.

My goal is to acquire 167 rental properties in 5 years generating $500/month on average.