In 2021 we bought the building for $1.5M using private lenders, pushed the occupancy from 50% to 80% occupancy and it appraised for $3.125M, allowing us to pay back the private mortgage.Right now, we are in the predevelopment process of design and piecing together the capital stack for the redevelopment deal, which will be made up of historic tax credit equity, RestoreNY Grant, DRI Grant, etc.

Hi real estate friends,My wife and I recently bought our first home in Co springs area close to garden of the gods and other attractions in the area. to no surprise our interest rate is a whooping 7.1%, the main house has 4 - BD 2 B. our mortgage is $4009. the property we bought has an attached dwelling unit on the side of it, completely independent from the main unit we live in, we are currently renting it out for 2 years for a tenant for $1545, It has one bedroom one bath.My question is what are some ways to scale especially since in the current market (is kind of almost impossible)?

Quote from @April Smalls: I bought my property last year September.

Looking for advice from experienced investors: I bought a condo in 2019 and began renting it short-term in 2021.

@Sanjeev Advani I’m not saying they’re all like this but since Circle K bought 3 local convenience stores they have never been able to staff them properly or maintain employees.

So for me the ONLY advantage was the GOZONE tax bene's i was able to get when I bought them.. that was the Gulf opportunties act post katrina. most current investors I am sure never heard of it..

Quote from @Adam Bartomeo: A tenant that pays their balance after they move out is almost like spotting a unicorn, bigfoot, or finding a pot of gold at the end of a rainbow.

Another friend bought some with his TD Ameritrade account (some fund).

@Bill Brandt It’s a rental I bought back in 2005 for $174k. 

You would think that this would be obvious, but it's not (for newbies)And don't be afraid to p*ss off the seller....on the last house I bought, I offered $60k less, and the sellers got irritated/insulted and refused to even counter.