With the right team that has experience in this space, it's more than possible to do, potentially even easier than starting without the right team in your home marketPurchasing on your own with a team in place to help with any needs will allow you to maximize your returns, but to truly have all bases covered with someone to manage the entire process, a turnkey company would be a great place to start.

The partnership with Tracy McQuire exemplified our collaborative approach to maximizing property value through strategic investments.

The partnership with Mike & Laurie exemplified our collaborative approach to maximizing property value through strategic investments.

The partnership with Seth Choate exemplified our collaborative approach to maximizing property value through strategic investments.

Foreclosures, short sales, and off-market deals can provide these opportunities.Target up-and-coming neighborhoods with increasing home values rather than already hot areas.Research comparable recent sales and get an inspection to accurately estimate the after-repair value (ARV) before making an offer.Follow the 70% rule - the purchase price plus renovations should not exceed 70% of the ARV to leave room for profits after selling costs.Focus renovations on maximizing returns - kitchens, bathrooms, curb appeal rather than over-improving.Hire experienced contractors and have a project manager oversee work to keep things on schedule.Price the renovated home at or just slightly below comparable recent sales to facilitate a quick sale.

Never fear, Dave Meyer is here to demystify one of the most important (and surprisingly easy) steps of your investing journey: deal analysis.Live Workshop: Demystifying Deal Analysis with Dave MeyerDate: May 29, 2024Time: 11am PT | 2pm ETIn this live workshop, you'll walk away understanding:How cash flow, appreciation, amortization, and tax benefits all shape the quality of a good dealWays you can maximize your investment returns BEFORE buying a dealThe key questions you should ask before every investmentWhy MOST properties out there aren't deals—and how to poise yourself to move immediately on those that are Register now to secure your spot!

However, this requires careful planning and adherence to 1031 rules.Holding and Renting Units:Retained Units: For the units you retain (one for your business and one for rental income), you will continue to benefit from rental income and potential appreciation.Depreciation: You can continue to depreciate the retained units, which provides additional tax benefits by offsetting rental income.With these considerations, this approach allows you to leverage the benefits of a 1031 exchange while maximizing the potential of your investment in the commercial property.

I can help you explore various loan products that suit your needs and maximize your returns.Please feel free to reach out to set up a time to discuss this further.

What tactics would you use with your spouse to get him or her interested in sharing a too-big house with nice people you choose that you may not even see frequently in order to pay a very low monthly net rent and maximize the ROI on your primary residence rehab?

Consulting with a tax professional can provide tailored advice to navigate the tax implications of this arrangement, ensuring both parties understand their reporting responsibilities and maximize tax efficiency within the tenants-in-common framework.Hope this helps!