It all depends on what they are hoping to achieve.

TheSeattle Times editorial boardSeattle’sOffice of Housing last month released an unprecedented $14 millionto stabilize the balance sheets of affordable housing providers infinancial trouble.Turnedover to The Times editorial board after a public disclosure request,the 24 applications for emergency funding read like a collective cryfor help.Landlordsreport that some tenants are not paying rent, a trend that worsenedduring the pandemic.

It was a balancing act on my end, I had to buy furnishings that were tough enough to keep up with the abuse of my guests, but affordable enough to not break the bank.I have put together a list of items for when I purchase a new STR, and would be glad to send it your way if you want to PM me.

**Instant Reports**: Generate essential financial reports like Profit & Loss Statements and Balance Sheets at the click of a button.

We keep them up to date on a monthly basis.When our clients' tax pros file their tax returns, we get a copy and make any necessary adjustments so each client's fixed asset balances match their previous tax returns.

Loan Balance $295,000Loan Maturity Date 11/1/2051Property Specifications:SFHBedrooms 4Bathrooms 3Square Feet 2316Year Built 2021Garage Size 2Schools Rating (scale 3-30, 30 is best) 18Lot size (sq ft) 7,631.0Purchase price: $330,000Market Value: $350,000Estimated Financial AssumptionsMonthlyYearlyRent (upper)*$2,350$28,200Rent (lower)*$2,250$27,000Property Taxes$425$5,100Insurance$200$2,400Repairs$65$780Property Management Monthly (%)0.00%Property Management Monthly ($)$75$900Leasing Fee$95.80$1,150HOA$146$1,752Vacancy Rate4.00%Total Fixed Expenses$1,096$13,150Total Expenses (Fixed + Mortgage)$2,620$31,437

By leveraging market knowledge and a trusted partner network, we were able to achieve a substantial profit with minimal investment.

Balancing short-term capital needs with long-term learning and growth objectives is crucial.Good luck!

Second, list price is not a benchmark for a good deal, you are hung up on beating up the seller and if you are not achieving a win-lose scenario, you walk away.

Before you buy, make sure to get the latest rent roll (a breakdown of what tenants are actually paying in rent), the tenant ledger (which shows their payment history—whether they’re paying on time or carrying a balance), and of course, a copy of each lease agreement.Too many investors rely on what the seller says, which often doesn’t match up with what the tenants are doing.