My goals with BP is to continue to learn everything I can about financing, analyzing deals, obtaining leads, and managing my rentals.

It also adds complexity to management.

I manage around 400 rentals with 14 years of experience and have never been sued once.

My plan for this year is improve my credit, get my real estate license (to increase my income on top of my W-2), possibly career transition into the property management space (to learn more), and save as much as possible and learn as much as I can.I’d love to house hack close to home but my area is so expensive it seems like it’d be close to impossible. 

This burnout led to me selling off my rentals, dissolving my business with family, and having my mother take over managing her own units.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Very good resource for getting set up with STR property managers, cleaning services, realtors, lenders, etc. https://www.getchalet.com/

I love the fact that I don’t have to manage the property as with rentals and can invest from anywhere.

Allocate equity based on contributions: you provide the $235K HELOC and management, while your former boss contributes renovation expertise and labor.

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.