The access to the car wash, what type model it is, the traffic counts, how many other car washes in the area, sightlines to the property ( on a hill,down in a hole,level), any cross anchor larger feeder traffic to site, parcel size layout and shape, etc. all play a vital role in the long time success of the dirt value along with other demographic metrics of course.There are not newly minted national credit leases at 9 caps with retail.

I was paying a $800 rent and found a nice little house with rehab potential for $ 123 000, converted the unfinished basement into habitable space with a bedroom/bathroom, a laundry room and a multipurpose room.

I also know that a team effort is vital in this as the property manager I have found has a good idea into estimating ARV, knows contractors and does BRRRR himself.

Your lease should have a clause that states that the unit will be kept in clean, habitable conditions.

You will want the habit when you have real estate, anyway, and need to set aside money for cap ex and taxes.

The Money Show mainly talks about how to develop good financial habits that are needed by a real estate investor.

Lack of capital is my barrier.But learning on BP has given me the hope that I can at least upgrade to a nicer rental and study habits of successful investors here.

Absolutely no one is born with the experience.I would most definitely use NOW to get into the habit of budgeting and saving.

Most people are poor because of poor thinking habits *not * poor working habits .

The seller is asking for $115,000 but I was going to offer $110,000I haven't seen the inside of the house, but since the house is fully occupied I wasn't going to do any repairs on the place yet.Down Payment: $23,000My analysis says:  $1,500.00 MONTHLY INCOME $847.15 MONTHLY EXPENSES $652.85 MONTHLY CASHFLOW 11.51% PRO FORMA CAP $13,233.00 NOI 30.13% CASH ON CASH ROI 11.51% PURCHASE CAP RATEDo these numbers make sense or am I missing something vital.