My business is built around doing deals for out of state investors and my mind is BLOWN by how many flat out refuse to come visit, meet our staff or walk the property that they bought and we are rehabbing for them.

Purchase price: $255,000 Cash invested: $60,000I bought a condo back in 2019 in Ashburn, VA as a rental property.

Just bought my first investment property in LI, looking to buy and learn more!

Not as many hotels in the area except next to some ski resorts but during covid it got crazy. we bought one for $25k at a foreclosure sale in 2015 and could not give it away in 2019 for $50k then in 2021 we sold it for over $120k. 

So excited to announce to the community that as of last month, I acquired my largest deal to date which is a 130-Unit Hotel and Resort in the Smoky Mountains of Tennessee! I'll include all details below.

THE LOCATI...

Like in many other markets, only a minority of owners can get such figures (if they have a special property that they bought at a good price years ago for example) but the average buyer/investor will be sorely disappointed if he/she hopes to reach those figures.

Quote from @Kody Smith: without getting too deep into my finances, what my strategy is...1. take loans to buy properties (leverage)2. fix/flip for day to day cash flow income3. use some of the fix/flip income to buy consistent cash flow through:- business acquisition, - commercial properties (MF and store fronts),I have no intention of doing ALL of the management myself, I will hire management as needed (medium term goal)my expected core role is money provider, evaluating the numbers, making decisions, and connecting with investors, wholesalers, lenders, contractors, and property owners.while I am just on step 2 of the journey, I am looking toward step 3 to stabilize, and not worry about if house prices drop mid project or not (or not worry as much) So to be fair this is more about obtaining and growing a real estate business not simply buying rentals for cashflow.

For example, my appliance store gives me a 10% discount, so I charge a 5% markup to my owners to make a little money and the owner still saves 5% from retail. 

Are the units bought or leased?

Send a notice: The landlord can post a notice in a visible place and send a notice by mail to the tenant's last known addressRemove belongings: The landlord can remove the tenant's belongings and store themRecover costs: The landlord can recover the costs of moving and storage from the tenantSell belongings: If the tenant doesn't claim their belongings, the landlord can sell them at a public sale(End)Please only communicate with the tenants - all of them - in written form only so it can be used in any collection/court engagement.