The vast majority of us on here are not fans of this model. 

My living expenses were almost completely rolled into the business model and I lived among an ever changing group of guests who made life lively and entertaining.

@Brad Banks Some models do have bidding wars.

I have befriended a real estate agent (who has become a true friend) and her son (who has aspirations to get started in real estate as well) and he has a house that will be vacant and is looking to rent it out.

Hi Everyone,I thought it would be helpful to share a couple of excel models that I use in assessing prospective real estate projects.

The losses could be used against other sources of passive income and that is it.If it is a standard self storage model, and thus treated as rental income, then in order to get anything other than passive treatment you would needs REPS status. 

While degrees are not mandatory, a few prerequisites are necessary to successfully execute a ground-up deal.You can engage in networking extensively, but unless you can speak the language of finance, comprehend its metrics, and know how to utilize them for in-depth pro forma modeling, progressing in the business becomes challenging.The initial step in executing a development project is to identify and properly control the acquisition of a site.

While we were unsuccessful with wholesaling, we learned a lot and had aspirations of building a RE portfolio based on the BRRR method.

Proper due diligence is what often separates the aspiring real estate investors who crash and burn on their first deal, and those who build a successful portfolio.

It's not a sustainable model and requires a lot of attention.