List of all items remodeled and how much they cost and the comps in the area (some appraisers come from out of the area and you know best what the comps are and numbers are).Other option: if the numbers turn to be tight and you cannot refi, I would think about selling it lower and taking less on the deal to get your hands washed from the project.

Lesson: if you do not have two separate guest stays completed in 2024, there is no way to meet your 7-day test.

So many lessons learned, and yes, I’m beating myself up over and over for trusting so much and being so loosey goosey with things.  

The lesson here is that EVERYONE (especially mentors/gurus selling their “expertise”) has investments that do not work out as anticipated, one that actually lose money, and one’s that tie up your capital for long periods of time before you get your capital back.  

Looking back, the biggest lesson was saving from a position of financial strength.

This taught us an important lesson: it might be time to bring on a dedicated dispositions specialist to ensure we maximize our spreads on every deal.

Quote from @Danny Gonzalez: @Paul CijunelisSo I’m not in the IL market, but I’ve owned a PM company for 5+ years, and here are some lessons I wish I’d known when starting out:1.Hire a VA Early: If you haven’t already, bringing on a Virtual Assistant is a game changer.

Anyway, lesson learned!

., Lessons learned?

It is an action to protect the immigrant, to lesson and end exploitation of the immigrant.