Fix-and-flip projects can yield quick returns but require experience, while house hacking with FHA or conventional loans is a great way to get started.

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This is based off of the conventional loan limit where you are buying.

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

You also have the option of only owning the real estate or the business as well.I can’t think of a more fulfilling and pride of ownership opportunity in real estate than owning really incredible homes providing better care than big box facilities.

@Dave Harlan, I have been using conventional lenders since last 7 years and hard money since last 1 year.

If the COC has a difference of 0.3% who cares?

@Daniel Hartless for any condos that allow STR, you will not be able to get away with 10% down as a second home, because conventional loans do not allow financing for a short-term rental and will require a minimum of 20% down.

They typically have multiple origination points (meaning very high closing costs) very high rates (compared to conventional but also compared to 6 month or longer waiting period DSCR products) and almost always have VERY long pre-payment periods up to 5 years.

You'd be surprised how often a deal can happen using this strategy but it is also important to run the numbers and make sure your COC return, etc are in line with your expectations.Probably the lowest risk is partnering because a seasoned investor will verify the deal (hence their participation) and likely take care of the initial money required.