Preparation is key, and relationships are everything.When closing a property deal, the funds typically required include a purchase deposit, which is refundable during the due diligence period, and an additional nonrefundable extension deposit.

Our pro forma for the self storage property we built was rock solid until we opened the business and a year later I was facing losing everything because of all sorts of factors beyond my control.

In addition to my surrounding area of Bridgeport, I am also open to looking in New Haven County, Middlesex, and Hartford as well as an out of state market (Detroit, MI). 

A strong “Core 4” can make managing your investment remotely much smoother and prevent a lot of headaches.Also, as you narrow down cities, pay close attention to factors like job growth, population trends, landlord-tenant laws, and short-term rental regulations.Happy to connect with you, and good luck as you jump in!

Based on the quality of this particular home, my rent estimate may be low.Note: you have to consider other factors.

The limiting factor right now is not speculation or a lack of euphoria--it's simply affordability. 

Wanted to revive this post and check to see if anyone else has additional information or input on rental in Cahokia, IL / Cahokia Heights, IL . . .

What started as a promising BRRRR ended with us making the tough decision to sell at a loss after an unexpected disaster.The Numbers:Sold for: +$230KPurchase Price: $115KClosing Costs: $3KRehab Costs: $105K ($49K original rehab, $56K additional repairs due to the car crash)Holding Costs: $31K (12 months)Selling Costs: $16KInsurance Claim Recovery: +$25KNet Income: - $16KWhat Happened:This was supposed to be a BRRRR.

additional challenges are the inventory shortage and good contractors being extremely busy. 

However, because the Department of the Treasury recognizes that reporting companies may need additional time to comply given the period when the preliminary injunction had been in effect, we have extended the reporting deadline as follows:Reporting companies that were created or registered prior to January 1, 2024 have until January 13, 2025 to file their initial beneficial ownership information reports with FinCEN.