Make sure the tenants are paying market rent or above, otherwise your loan will be DSCR constrained.

On market with motivated seller - negotiated $175k off list price How did you finance this deal?

This is not yoursituation, but just to walk through the different thought processesin Holding/Selling that a friend of mine is going through.Helped my friend getinto the Self Storage business and walked him through the wholeprocess from evaluating the market, selecting a site, developing thesite, systems, financing, insurance, etc.

Thankfully we are commercial bank clients so our rates are as low as you can get in the market place for anyone who is not Lennar or DR horton or those types.

Hi,We recently (Aug 2024) bought commercial land of around 2 acres. this was part of bigger commercial lot (around 25 acres) which had AG exemption and so the taxes that they paid was around $20 each year. we received a 'AG ROLLBACK' letter from the appraisal district that starting 2025 tax year, we will be taxed at it market value resulting in additional taxes, interest and possible penalities for 3 prior years.

Obtain a working knowledge of the local rental market. 

We added value by investing $45,000 in well-planned renovations, modernizing key areas, enhancing curb appeal, and ensuring market-ready quality.

@Danielle Levy a lot of questions regarding your accusations:1) What are the average Days On Market (DOM) for rentals in this "hot" market?

Each REI investor will have definitely grown either in knowledge, experience, or current market situations since their last podcast.I view the BP Forum posters as the free/easy entry into BP product lines. 

@Manny Del ValGreat markets!