I’d also love to hear your predictions for how the real estate financing landscape might shift this year and how you plan to position yourself for success.

Still have to be careful though, with the block-by-block challenge, depending on the Class of Neighborhood.Also, be sure you understand the difference between the City of Detroit and the suburbs!

If you choose to move forward, I recommend having a backup plan in case Hawaii outright bans STR.

Make a plan that eventually leads to owning property that throws off cash after you purchase it.

Raleigh specifically has introduced “Fast-Track Plans” designed to streamline permitting to build ADUs faster and more cost-effectively.

How are you planning to scale your business or portfolio?

Are you planning on staying in that area?

@Tove Fox - Residential Real Estate InvestingPros:Lower Entry Costs: Easier to get started with less capital required.High Demand: People always need homes, making demand relatively stable.Easier Financing: Mortgages are generally easier to secure with favorable terms.Simplicity: Easier to understand and manage, especially for beginners.Flexibility: You can use it as a personal residence or rent it out.Cons:Tenant Turnover: More frequent turnover leads to vacancy and more management.Lower Cash Flow: Income potential can be modest compared to commercial properties.Emotional Buyers: Residential prices can be influenced by emotions, leading to price volatility.Maintenance Burden: Landlords often deal with repairs and maintenance, which can be time-consuming.Commercial Real Estate InvestingPros:Higher Income Potential: Stronger cash flow and higher returns are common.Long-Term Leases: Tenants often sign longer leases (3-10 years), reducing vacancy risk.Professional Tenants: Business tenants tend to take better care of the property.Valuation Based on Income: Prices are based on the income the property generates, not market emotions.Shared Costs: Tenants often cover property expenses like taxes, insurance, and maintenance (via triple-net leases).Cons:High Entry Costs: Requires more capital or partnerships to get started.Complex Management: More expertise is needed; you may need a professional property manager.Economic Sensitivity: Commercial properties are more sensitive to economic conditions.Challenging Financing: Securing financing can be harder, with stricter terms and higher interest rates.Zoning and Legalities: More complex regulations compared to residential properties.Key Differences:Risk: Residential tends to be lower risk, while commercial offers higher rewards but with greater risk.Management: Residential is easier for DIY investors, while commercial properties usually require a team.Scalability: Commercial properties are easier to scale, offering more potential for significant cash flow increases.

In our company we basically use the cloud based expense reporting software that takes care of the accounts, invoicing and billing in a precised and significant manner.

I used to work in Planning & Zoning.