If I do buy a house I'll probably be close to house poor with no extra money and probably won't have an opportunity to invest in real estate for a while since most of my money would be tied to my house/townhome/condo.

This extra step can help protect your property and minimize risks as you start your STR journey.

There’s also the possibility that owner-occupants are purchasing these properties as primary residences, meaning they don’t need to worry about flipping profit margins.If you're consistently getting outbid, it may be time to adjust your approach.

To maximize the number of transactions you’re involved in you will need to:Be Top of Mind when they think about moving - which requires consistent reminders.Be seen as an Expert – which requires a consistent message and Evidence of Success storiesGain their Trust – which requires communicating integritySo, start out by listing everyone you know in an Excel spreadsheet.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

We've since increased their rent to market rate, and now we're experiencing late payments.Family Member as Tenant:Issue: Our family member is behind on rent for more than 5 months, with a rate below market due to their relationship with us.Behavior: They have made excuses about financial struggles, yet have been seen treating their new girlfriend to fine dinners and outings.Impact: Both tenants consistently pay late and have shown complete disrespect to us, the property owners, despite efforts to ensure their happiness and success.We'd hate to impact our relationship with them, but right now, they're hurting us and our pockets. 

The truth is that if you find the right deal, you can make pretty much any market work but if you are looking for consistent deal success that narrows your options down.Some investors look for simple signs like the "Chick-Fil-A" test.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

It's great to be prepared and have your duck in a row but we don't even start discussing eviction until they are at least a month late or behind by 1.5 months of rent. 25% of the time tenants are going to be late and about 10% are going to be late consistently.

.🔥 Here’s a preview of the agenda:Mastering the Art of Choosing Syndication Investments with Brian Burke (Limited to 50 attendees—extra fee applies)2025 Market Update: Trends Shaping Passive Real Estate with Brian Burke and Jeremy RollLessons Learned from a Challenging Year with Paul Shannon, J Scott, Jim Pfeifer & Tyson MillerAdvanced Tax Strategies with Amanda Han and Matt MacFarlandInvesting with Self-Directed IRAs with John Bowens from Equity Trust CompanyLive Pitch Slam with LP Panelists: Paul Shannon, Chriz Lopez and Jim PfeiferPlus, network with fellow investors during interactive sessions and build connections at sponsor-hosted dinners.