I use the "profit first" approach to cash management and am VERY happy with what it has done for me. https://a.co/d/h16sPxR

I’m interested in learning about buying and holding long term rental properties.But I’m in a really messed up situation right now and looking for suggestions what would be the best approach to my situation in order to scale quickly. 

Kudos to him for doing it, but his rules and his dogmatic approach is also the same thing that made Open Door Capital a horrible venture because they skip over being pragmatic.

By the end of June, I struggled to find 20 calls to make.By July 2024, I decided to try a different approach.

Chad “Coach” Carson explains this approach best IMO. 

But please for the love of all that is good, plan your exit strategy with their property management, because that has been a giant dud for me and do not see it getting any better should they continue the hands-off, digital approach to placing & managing tenants.

@Monica Juarez-Gonzales Adding to prior note that @Michael Plaks has created the best resources and content, bar none, to help investors understand how to approach Cost Seg.

Live in one unit and rent out the others to cover your mortgage.Seller Financing: Negotiate terms with the property seller where they act as the lender, often requiring a smaller down payment and bypassing traditional underwriting.Partnerships or Joint Ventures: Partner with an investor who provides the capital in exchange for a share of the property’s equity or income.Lease Options: Use a rent-to-own agreement, which allows you to control the property while saving for a formal purchase.BRRRR Method (Buy, Rehab, Rent, Refinance, Repeat): Acquire a distressed property with short-term financing, rehab it to increase value, rent it out, and refinance to recoup your initial investment.Pro TipStay in close communication with your lender as you approach your next purchase.

I hope it doesn’t take him too long as the deadline is approaching...

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.