Spending $15,000 on minor updates in a Hyde Park two-flat could raise the rental unit's value by $300/month.5.

I currently work with investors looking to build their portfolio with single-family, long-term rentals while managing for them on the back end, making is hands-free for the investor to still work their W-2 job and live their everyday lives and spend it with family, hobbies, etc. 

We plan to spend the next 6-12 months continuing to earn and save, as well as nail down a final market we want to househack in.

On average, you will spend 10% of your income on maintenance per year.

The number one mistake that I saw buyers making was jumping right into negotiating (and not very good negotiating at that) without first spending the time to build rapport.

The main issue is that to do the ADU you have to spend so much bringing other items up to code like electrical, plumbing, lighting (windows) and egress.

If you're earning primarily W-2 wages, interest, or dividends, those attractive depreciation deductions from your cost segregation study will be suspended.Think about it this way: You might spend $10,000-$15,000 on a cost segregation study, expecting immediate tax savings, only to find those deductions suspended indefinitely.Does this mean cost segregation studies are worthless?

I am excited to get started investing in real estate in out of state Long Term Rentals.Outside of real estate, I enjoy spending time with my kids, as well as mountain biking and other outdoor adventure activities.Excited to learn and connect with you all!

You want to have your financial house in order so you know what you CAN afford and what you SHOULD spend.

I took the next 5 months to tackle everything myself spending approximately 17k in supplies and tools + paying a plumber and roofer 4k total to fix those issues.