Learning the ins and outs while keeping an eye out for a great deal is a smart approach—knowledge and patience go a long way in this space.

@Brandon Stelling I would recommend reaching out and connecting with various commercial brokers who specialize in each of these spaces.

Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

For reference, we're heavily involved in the co-living space, which is an unorthodox strategy but can perform exceptionally well with the right property and systems in place.

I do not have 5 layers of management that make my rates higher, no lender I work with pays for my office space, licensing, benefits, marketing department, compliance department.... 

There's also on posted on the Events Forum under Space City REI - I'll try to tag you! 

Top Renovation Trends for 2025: Renovating homes isn’t just about updating spaces—We have found that it is about creating a lifestyle that resonates with today’s buyers.

As you can guess, I’ve been in this space for a long time, coaching and investing, and I would be happy to help if there’s anything I can do to support you, just let me know!

Using the appropriate amount of lights and mirrors is a pretty low-cost way to really make the space feel custom.Unique tile installation patterns such as vertical stacked or herringbone.

A smaller building that used to be a small community bank that could easily be retail space/ cafe.I will qualify for conventional financing for this property, but with interest rates being what they are, I'm not sure that's the best option.