Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

I would be interested in connecting for the Washington team position for both purchasing agent and professional property management.

Hey Gabriella, as a property manager and aspiring agent you should have no problem finding a mentor.

Logical Property Management are actually my property managers.

I know property managers in every state who use non-refundable application fees and it is the standard for every class of property and applicant.

For FT property management, the rule of thumb is between 80 and 120 units (if they are doing everything).

It's not quite as easy as renting out two sides of a duplex, but with the right marketing and management you could rent out the extra unit to supplement the mortgage payment. 

I am based in NOLA and have a great property manager.

Many of the problems I hear on this forum and in personal messages to me from other investors can be solved through more frequent and detailed communication.I have multiple emails to the construction project manager asking for an estimated completion date that have gone unresponded.

I’m not looking for a completely passive approach, even though I’d be managing it from outside the country.