Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

The rent control in some cases is really unfair to the landlord as the percentage increases are virtually irrelevant when the rent is a small amount.

Managing rentals isn’t for everyone, especially after dealing with bad tenants, challenging property managers, and increasing costs.

I'm not sure by how much your rates are increasing but I have friends in NOLA who have seen a 2x increase per year.

You would have to be significantly cheaper than my current cleaners for me to give you a shot, because I generally have only changed cleaners for either consistent subpar work or increasing/unreasonable prices.

In Portland for example we are not allowed to increase rent more than once in 12 months, and it must be less than 10% increase in "effective rent".

. $8k cash flow (this will increase over time because you are in an appreciation market). $6k principal pay down (based on your current loan). $20k appreciation (based on 3% which is conservative, 4-5% is the historical average).

. - In the event that you do get a deal, that you do not violate the intent or letter of an increasing number of anti-wholesaling laws, and that you actually receive an assignment fee, you will walk away thinking that your role is over.

In 2024, I noticed an increase in BP leads that have been high net worth investors reaching out wanting to 1031 into bigger properties.

Quote from @Greg Kasmer: I'm curious as to your comment on getting back in when the bottom has been "somewhat defined" - Is that defined by rents stabilizing and/or increasing or another metric?