Market Selection: What factors do you consider when choosing a profitable location?

Choosing pre-selected materials can simplify the process.- Managing Multiple Projects Simultaneously: Handling numerous properties at different renovation stages requires effective project tracking, milestone-based contractor payments, and solid contingency plans to navigate potential delays.- Technology & Automation: Utilizing project management software, such as Buildertrend or Monday.com, enables real-time tracking of budgets, schedules, and contractor communications.

Huge markup.Most people choose to do things the easy way.

Choose Multi-Unit PropertiesLook for duplexes, triplexes, or properties with ADUs.

This takes a little more work, but it's the fairest and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.

Put a heavy emphasis on who you choose as an agent.

Quote from @Johnny Lynum: If you had the chance to invest in your first property, would you choose a single-family home or a multifamily property?

Confirm that the provider has a pristine reputation (e.g.

However, if you choose to stay there for a bit and sell you'll get the first $500K of profit tax-free if you've lived in it for at least 2 out of the 5 years prior to sale.

Then you can choose to get a roommate to make extra money.