But if you lay out your plan to the owner over the phone, it's very hard to get a "yes" because trust is developed with a face to face meeting.Trust can be established by talking about your past record (as an investor) but also if you have something positive about yourself (profession - real estate agent, nurse, teacher, fireman, doctor - any profession that can give you some added credentials).#4 Owner vs.

These areas are experiencing significant development and population growth, driven by families and professionals seeking more affordable housing while staying close to the job hubs in Plano, Frisco, and even parts of North Dallas.

There's lots of opportunities in developing neighborhoods, but also seems a bit saturated at the moment.Also, definitely budget security (remote control cameras, alarm system, etc.) for your properties, as there are a lot of people who occupy themselves by breaking into houses and stealing anything they can sell.Lastly, there are a ton of contractors looking for a quick buck.

Before committing to paying off the property, analyze whether there are ways to optimize revenue, such as better marketing, adjusting pricing, or upgrading the property to attract higher-end guests.Return on Capital: If you pay off the mortgage, the “return” is essentially the 7% interest you’re saving.

They do not take into consideration the revenue from the STR business as part of the selling price.So if comps say the duplex is worth 500k, then it is worth 500k.

Over time, we’ve developed a strong relationship with the Housing Authority across various neighborhoods and ZIP codes.

It's important to stay informed about developments in the areas you're considering, as well as any potential changes in regulations or economic conditions.

To rent the home, I would lose about $2,500 per month (based on comparable rents in my area, property management fees, etc).Both options loose the same amount by roughly 2 years, and by this time, I still will not have built up much more equity in the home to make selling it a break even unless there is price appreciation by then.My dilemma is this: I speculate that my home will not appreciate much in the next 3-5 years due to the rapid pace of development in the surrounding area.In 5-10+ years, maybe, but by then I'll have bled $150,000 - $300,000.I have thought about this a lot and feel that I mar'-too close to the problem to see the best solution.

The property will need to have a slight rehab to get it up to STR standards, but when complete it should easily be a $200k Gross booking revenue property.

Over-relying on a coach for every decision can hinder your ability to develop critical thinking skills and confidence in your own judgment.5.