Life always throws surprises, right?

Maybe it’s a term you swear by, a deal that surprised you, or just a tip for keeping things smooth.

I also diversify into alternative real estate, like self-storage, to stay ahead of emerging trends.I’ve learned valuable lessons over the years, particularly the importance of clear communication and aligning expectations in partnerships.

Successful flippers are:- Building relationships with reliable contractors- Ordering materials well in advance- Being strategic about which renovations will truly deliver ROI Regulatory EnvironmentRecent changes to Phoenix building codes have emphasized:- Stricter energy efficiency requirements- More rigorous inspection processes- Additional permits for certain types of renovationsBe prepared for longer permitting timelines than in years past.Financial ConsiderationsThe financing landscape has evolved significantly:- Hard money lenders are offering more competitive rates (7-9%) than the 12-14% seen in 2022- Several Phoenix-specific investment groups have emerged that pool resources for flips- Traditional lenders now offer more renovation loan products tailored specifically to the Arizona marketThe Bottom LineThe Phoenix market in 2025 offers solid opportunity for house flippers who approach projects strategically.

Generally, a good property manager will make sure to do the following:- rollout a strong marketing plan - thorough application process - know the fair housing laws- have the vendor relationships to take care of any emergencies that could happen- dealing with late fees & evictions!

In major cities I can get someone out for emergency service typically same day, even if I have to pay overtime for after hours work.

As a property manager, based on my conversations with our clients, below is a condensed version of what we hear most (in relation to PM in Chicago): "- Passing on the load so that you can be more present and attentive to your family (edit: and other responsibilities) and not be essentially working 24/7, on-call for the needs of tenants and property emergencies... can be worth the management fees.

Net investment income tax= 3.8%I was aware of the Long term capital gains tax, but I was surprised to find out about the Depreciation Recapture and the Net investment income tax. 

Many developers get hit with subsurface surprises, delays, and budget overruns, even after site surveys.

I would not be surprised if banks would not recognize them either.. maybe I dont know enough about insurance..