Purchase price: $630,000 Cash invested: $120,000 Completely gutted this property, brand new electrical, furnace, propane, finished basement to create separate unit.New garage with rental unit.

Sounds like it could be a decent LTR situation, but you answered my concern on if a STR would really stay booked enough to justify a purchase.

maybe some mistakes that you made or things that you did not think of before making the purchase?

If your property manager is not listed as an additional insured, they may not be covered under your policy in the event of an incident on your property, leaving both of you potentially exposed to liability.It can save you money.If your property manager is not added to your insurance policy as an additional insured, they may be forced to purchase their insurance policy to protect themselves.

I am in the process of refinancing for 100k to purchase a second property.

Hi All - does anyone have experience with purchasing a course on learning the art of doing real estate title searches?

The real property investment can be repositioned if it proves disappointing in its original form; it can be refinanced or recapitalized if it has too much or too e pensive debt; inflation over time bales out many bad purchases, and finally the investors knowledge, experience and abilities can be leveraged to turn around a cash flow negative property.I’ll provide an exampleThree years ago we purchased a note from a bank secured by two auto repair facilities with a large amount of excess land.  

Computers can analyze property based on subjective data (square footage, # of beds/baths, etc.) but cannot calculate for objective data (quality of kitchen cabinets/counters, size of bedrooms and bathrooms, view out the living room window, etc.).You should study the market yourself.

Purchasing a STR in a somewhat sketch area is a terrible idea and as others have mentioned, is going to open you up to potential issues. 

If purchase this RE, ETC Mar 2024