Hi Community, has anyone had experience with at home daycares?

Does anyone have feedback that they can share regarding their experience with the Michael Blank mentoring program? 

Lenders often require 30-40% down.Cash flow considerations – Since all expenses must be paid from your IRA, maintain liquidity to cover unexpected costs like repairs and vacancies.Rental properties vs. commercial deals – Residential rentals and commercial properties can both be great options, but keep in mind management complexity and income stability.Generally speaking, stay compliant – Avoid prohibited transactions, such as personally guaranteeing a loan, living in or personally managing a property, or transacting with disqualified persons (yourself, spouse, ascendants, or descendants).Diversify your portfolio – While syndications and real estate are great, consider mixing in other alternative assets like private lending, tax liens, or even notes for additional risk management.Work with the right custodian – Make sure your SDIRA custodian is well-versed in alternative investments and has experience handling syndications and non-recourse financing.If you’re looking for specific lenders who offer non-recourse loans, I’d be happy to point you in the right direction.

Not having the proper experience and knowledge could cost you a friendship and is a huge liability risk for your friend. 

Anyone with experience in this area, please recommend.  

@Melissa StanleyYour scenario is fairly common — "I've got the funds, you've got the experience, let's make lots of money."

Boils down to experience.

Happy to share my experience if you want to send me a PM.Ryan

Hopefully, you're looking to do this on a Class A property, or at least Class B.We've turned down Class C rent-by-room opportunities in the past because in our experience/opinion, you'll need someone that can visit the property weekly to not only keep an eye on what's going on, but also to "keep the peace" between residents.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!