To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

My wife and I have overhauled our personal budget to reflect the 'pay yourself first' approach (allocate in order: income comes in -> invest -> donate -> fixed expenses -> variable expenses -> fun $$).We are looking to see what experienced people generally recommend for a holding tank for that 'invest' allocation while we target our first real estate deal.What financial vehicles have you guys used that works well for this?

Some of the national data sites have pricing suggestions that run both high and low.

Just because the deal may not fit our criteria, there are many other syndicators that will.I finally decided to make that data available to other sponsors that easily makes up for the time/effort that goes into it.

To help support that avatar, try and have on-site parking and ideally a place where a large work truck can be parked without issue (think fully decked out F-350). 

Not a lot of our competitors offer this but it's something we can consider (but for us, it can't be in a rural area, the loan amount must exceed $150k, if we're using PadSplit income (or STR/MTR income) the max LTV is 75% and the down payment must come from your own funds). 

Conceptually you want to take an approach that minimizes your need to be on site - and for that reason I would advise against BRRRR.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

I host the online women’s for our REIA and will be happy to answer any questions if you DM me.

Most of our clients are cash buyers.