I always get a good  laugh when I sit down at a retail branch to open a business banking account and the banker glances over my operating agreement for 2-3 minutes.

Hey @Inigo Alonso Gago, I hope you are finding success in my home state of Minnesota.Obviously govenment-backed loans make real estate operations more profitable in the US, but if no profits were possible in Spain the entire rental market would collapse.

It can be done but I would probably also diversify it in private lending or another type and just not NPN's.I think reality people need to understand is the days of 25%+ returns are only happening if the operator is on top of their game but stuff is being sold and priced out at 15-20% and that should be the expectation.

I focus on Columbus, Ohio, which has seen significant growth, especially with tech giants like Intel, Meta, Amazon, and Google setting up operations, driving up property prices and job opportunities.

The bookkeepers then assign the cleaning cost to the correct owner's statement to be reimbursed at the end of each month.I pay them through Venmo in a bulk payment every couple weeks, which is linked directly to my Operating Expense account to pull the funds from the OTA payouts we receive.

I agree with Chris.I would recommend you partner with someone with experience as an operator.

I think the experience of the operator is the biggest risk factor we see.

Some of the main reasons are that operating expenses, acquisition costs, and capital expenditures take a substantial amount of any would-be profits.

I will lever it lightly with assumable debt, or not at all, and keep this conservatism going until cap rates are ~100bps above interest rates on property of reasonable quality and nearby where I live and operate my business.If that happens next year, I’ll cash out refi to a moderate debt level and buy!

All you need is the "master" account, that is the operating account, the cells can be on your books with each cell member.