This lack of sophistication with money leads many to avoid using credit at all and just continuing to operate within their comfort zone.

Looks nice and clean @Annie Balagot, but you are in a very competitive market and your bedrooms need better themeing.

If they give very little information or the new capital will only add a year or two to the viability of the deal, then I am likely not going to give them more money.The changing or stopping of distributions and calling capital are very stressful and concerning events when you combine it with a lack of information and transparency from the syndicator. 

I wish I would've thought about househacking back then so its cool to see someone taking advantage of the strategy.As you mentioned, Long Island is super expensive and competitive.

It is a common theme in the area and less competition is making it harder to keep prices down, but I'll definitely be shopping around. 

For new STR owners it's going to be difficult to get going with more competition - but not impossible.

I personally don't want to use them again mainly because of the lack of communication 

Hey mate,Welcome to the BP forum.You and @Jackelyn Lee are smarty pants heheI quit school at 14 and I'm a two finger pecker typer 🤓My team laughs at me for looking like a Teppanyaki chef throwing rice at someone when I type.Biggest message for you is to always keep the dream alive and to keep pushing forward.There are many unsophisticated folks out there like myself and I'll be cliche and say "if I can do it, anyone can" hehe.What one lacks in talent, has to make up with effort.I've only known one way and that is to put my head through the wall.Many others will just open the door and get to the other side lol.Not me tho ehhhYep, neck is always sore but we keep pushing forward...Wishing you much success with your real estate endeavors 🙏

Click the magnifying glass in the upper-right corner, enter your criteria, then narrow the focus down by blog, forum, or other categories.To be honest, the search feature in BP is lacking basic functionality.

In an ideal situation, this kind of deal can benefit all the parties involved, especially if it's a highly desirable property; The seller gets some privacy, the agent makes a few calls, and the buyer has less competition.