High rental demand for room rentals in Hyattsville and College Park.

Gatlinburg/Sevierville/Pigeon Forge was highly bid up due to realtors pitching inflated revenue projections. 

Were revenues as high as you expected them to be?

Our project management kept everything on schedule, making the property highly attractive to buyers.

High LTV purchased at retail (off mls) has large initial negative cash flow- regulations are tenant friendly.  

You want to buy apartment buildings in the ghetto and turn them into Condos?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Although I haven’t received an acceptance yet, I’ve been actively sending out LOIs to property owners.I’m aiming high with my first acquisition because I’ve heard many investors wish they had gone larger at the start.

Operated as an executive high-end rental for 2 years and cash flowed nicely while rented.

I’ve been scanning the market and come to understand as my first investment I’ll probably have to find an apartment/condo something like that and I typically hear of STRs typically making more cash flow etc.