One of my recent failures was underestimating the importance of clarity in conversations with potential investors.

I'd try to fill at least a few spots to get some income coming in, and then do a rolling conversion to MTR as you have the cash to outfit a unit with everything an MTR needs.

Here is the thread I started a few months back detailing my experience with Growth Equity Group, Brett Immel, and their cronies.https://www.biggerpockets.com/...Subsequently, I've had dozens of investors come to me directly, many of them having phone conversations with me, stating how they lost most or all of their retirement funds.

Again, this is a conversation to have with your accountant to ensure the benefits would outweigh the costs.Another misconception is that there is little value in a cost seg study for properties that do not have a lot of personal property in them or very little interior build out, such as industrial warehouses.

Learn from your family and on your own by going to different meet-ups and having conversations with agents, other investors and anyone else in the industry to hear about their experiences.Make 2025 a year of planning and how you will go about that plan. 

At a minimum, having viable plans in place for development will make these lots more marketable and valuable to potential builders when we have conversations. 

Collecting rent is something we don't talk about much unless it's not happening but I wanted to start a conversation about what methods of payments you accept and why. 

Listening to YouTube big shots that have great advice on professional ways to handle problematic guests ( most are great but everyone will get bad apples), staying at the property when you have an open window of time and actually get the guest experience (this is critical), and looking at your click thru and conversion rates to get a good baseline.There is way more work to running an STR than a LTR.

Hey Everyone,I had a good conversation with Pete Reese last week about him and his land flipping deals.

They bought real buidings - shopping centers, hotels for condo conversion, etc.