Our average monthly revenue is $2,675.We have had 46 stays so, $4,600 in cleaning fees (the cleaning fees are included in the avg $2,675 monthly revenue) If we have someone clean it, it costs $100.  

Aside from downpayment, you want to have a solid emergency fund in place, something that can cover unexpected repairs, vacancies, or any other random costs that pop up.I’d also recommend saving more than you think you'll need and keeping a close eye on your expenses.

Between carrying costs, having to potentially raise equity and/or utilizing debt during the pre-development period  had I settled plus associated time, I  probably would have spent a similar amount of money.

Hey Christian-  I understand the higher costs associated with private or hard money can be a mental roadblock when it comes to investing. 

Firstly, you can save costs by paying your VAs directly.

They only book at low prices here.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

From there we identify properties that could have some potential and if you are interesting in diving deeper, 1) we do a thorough video walkthrough to give you a realistic look of the property, 2) we give a ballpark estimate of rehab costs (we do 40 a year with our GCs o we will get pretty close), 3) we talk through market rent with our property management team, ARV, and potential highest and best use.Ideally you find great investor agents who know their market really well and have a network of resources to provide you with enough confidence to take reasonable action. 

While this structure offers great asset protection benefits, it doesn’t necessarily save money on filing fees or administrative costs.

My money market funds are dedicated to go towards a down payment, closing costs, etc.