This often happens when gutters backup or water curls under the roof and gets to the fascia board instead of going into the gutter.

After giving some grace, I had to turn the heat back up on them to force them to make the donation.They made the donation on a credit card, and while it's a far cry from the $50k+ in damages, it was a meaningful amount of money to them.

The downside is that the market drops and you lose more than you gain; but if you can weather the downturns things have historically always gone back up.

I expanded fast and my reserves for sure suffered temporarily ( was taking some reserves for future downpayments) , but am aggressively building those back up, while growing my personal savings bucket, and do very strigegent tenant background checks and references.   

It sounds like a solid opportunity, but just be sure to keep an eye on cash flow and have a backup plan in place.

Finally, focus on high-demand neighborhoods and have a backup plan, like renting if the flip doesn't sell immediately.Let me know if you need financing guidance or further tips.Best,Drago

A property may look good on paper in terms of appreciation but might not generate enough cash flow to cover expenses and build long-term wealth.Not Having a Backup Plan:If something goes wrong in any phase, such as a longer vacancy period or higher renovation costs, it can disrupt the whole strategy.

I don't know the entire situation, so that might be about par, but just my first instinct says that.Also, as mentioned above, rates have quite literally shot back up. 

Despite some success, landlords should consider backup plans like hiring a property manager or buffer periods.Good luck!

For example, we have a multifamily deal in the boroughs where the contract rider specifically states if the owner cannot deliver the property by X date, the purchaser can back out with their deposit.If you have some flexibility on the contract, you could continue shopping active deals as backups.