Do the closets have nice organization storage?

With a favorable market and minimal improvements needed, we saw a profitable opportunity to capitalize on the high demand in the area.

Paying top dollar in a hot market may not be as profitable as a great deal in a solid market. 

Feel free to inquire about their staff qualifications if it's a larger organization.2.

By leveraging market knowledge and strategic partnerships, we turned a modest investment into a profitable transaction.

When we underwrite our F&F's, the guidelines are in place to make sure you have a healthy profit margin so if we see anything glaring that should be re-considered we can walk through that in order to make sure everything make sense before proceeding. 

Here’s the situation:Key Project Details:•Property Size (pre-renovation): 250 sq. meters (2500 sq. feet)•Purchase Price: 250,000 EUR (1,000 EUR/sq. meter)•Renovation Costs: 750 EUR/sq. meter (includes kitchen, appliances, quality furnishings)• Loan costs (during renovation and renting): 350 sq. meters (due to attic expansion)•Property Size (post-renovation): 350 sq. meters (due to attic expansion)•Post-Renovation Layout: 2 separate apartments•Airbnb Income (24 months): 2,500 EUR/month/apartment (= 5,000 EUR/month)• Other running costs: 600 EUR/month•Projected Sale Price (after 2-3 years): 850,000 EUR (approx. 2,500 EUR/sq. meter)•Closing Costs: Negligible in Tbilisi•Real Estate Agent’s Fee: Typically 3%, but negotiable based on who hires themFinancing Setup:•Property Purchase Financing: 100% bank financing at 5.9% interest (bank has even financed 150% to cover some renovation costs in the past)•Renovation Financing: Our friend is offering to finance 250,000 EUR in cash for the renovationsProposed Partnership Structure:•Work Involved (on our side): Full renovation (10-12 months to complete), furnishing, and property management through Airbnb until the sale (2-3 years)•Profit Split Proposal: 60% (us) / 40% (friend providing renovation financing)Questions for the Community:1.Does the proposed profit split (60/40) seem fair, given the work we would handle (renovation, furnishing, property management)?

**Organized Transactions**: QuickBooks automatically tracks and categorizes your income and expenses, making sure everything is in one place and easy to access.2.

And when you sell it if you meet the primary residence requirements the profit is tax free.It is possible in many instances to own successful rental real estate that generates real dollars in your pocket but operates at a loss for tax purposes. 

I manually go through every transaction to drop in the right "bucket" to figure out our profit for each deal and then I give to my CPA.