I wasn’t expecting this at all, and I’m trying to figure out what to do.

Also, long term, I expect Sac will enact tougher restrictions on STR, given the intense housing crunch we're experience, so I personally don't expect that to a be a good long term strategy.

A good investor friendly agent typically does “driving for dollars,” from what I’ve heard, and they might have a direct line on off market properties.Eyes on the Future - At 19, you can stack up quite the portfolio over the next decade.

I think over the foreseeable future we will see this continue due to rising prices in those markets like California and New York.

We do not change fees or terms unless your appraisal happens to come in lower than the purchase price or the market rent comparables come in lower than expected.

If rates become more favorable in the future, we'll have an opportunity to refinance.Why we bought itThe 55-unit I mentioned earlier is a perfect comp for us.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

If you do decide to start flipping homes- as a new investor you can either self finance with all cash, or you can contact a commercial lender like myself and expect terms to be 75-80% of the purchase price with 100% of the rehab financed through a draw.

@Roy Kinzer Rent control in NJ can be a tough pill to swallow and unfortunately has caused many of my deals to fall apart quickly once buyers/future landlords realize how strict the controls can be.

Always be cautious of what you charge on things like paint, flooring etc.. most judges will use life expectancy and divide out a pro rated amount you could charge the tenant for excessive damage and not normal wear and tear