Challenges?

You will just be trading one set of tenant challenges for another.

Connecting with contractors, property managers, and other investors has been invaluable in helping me learn from their experiences and navigate challenges more effectively.

Anna didn’t have the financial resources to make the move on her own, and on top of that, she spoke very little English, which made communication challenging.

When you finish setting up your business profile and have your forums signature set up, you can focus on answering user questions, which will naturally lead to connections and business. 

See the chart from Fair Isaac Company (FICO) below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyAccording to this chart, investors should use corresponding vacancy+tenant-nonperformance factors of approximately 5% for Class A rentals, 10% for Class B and 20% for Class C.To address Class C payment challenges, many industry "experts" are now selling programs to newbie investors about how Section 8 tenants are the cure.

Inexperienced rehabber may be challenged to hit $80k.  

Even though I know the numbers well from my previous experience, I’m sure there are some unique challenges when it comes to flips—like managing renovations, timelines, and of course, staying on budget.For those of you who made the transition or started out flipping, what’s something you wish you knew before your first project?

As an investor myself, I can say, first transaction is always the most challenging and then each one gets easier. 

Would love to connect with anyone with experience to see the challenges and process.