Knowing the seller consisted of family members who inherited the property this year and had never actually seen it I offered $56k the same day it hit the market, cash, and close in 2 weeks.

In contrast, Fossum’s resume on Taxplanwealth.com ( Link ), details every aspect of his life including his girlfriend in kindergarten and everyplace he has worked in the last 30 years.

The company had no “coaches” who had experience in this aspect of real estate (multifamily value add syndication).

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

I'll focus on maintaining the property and optimizing rent increases to ensure consistent returns over the years.

However, the success of this approach hinges on consistent appreciation, which depends on demand.The Key Factors to ConsiderPrice Dynamics: Prices are driven by the balance between buyers and sellers.

What aspects of BRRR do you want to discuss?

I would say if you're looking to invest, the first thing I would do is to build your CORE 4 which consists of having a great realtor, contractor, property manager, and attorney in whatever areas you decide to invest in.

There are several aspects of a long term lease that are not needed, or additions that should be included in a mid term.

If you are consistent with these action items you will avoid most claims, your business will be more profitable,  operate more efficiently and if a claim were to arise you will have all your ducks in a row.