As we move into 2025, these trends are shaping how we approach renovations:Open Floor Plans with Purpose: Open concepts remain a top priority, but it’s no longer just about tearing down walls.

Additionally, it feels the most appropriate approach for both profiles I described above and allows me to focus on learning one strategy.

A friend of mine in Austin once negotiated a partial buy back option when the seller realized they might want back in if the market soared.. from what I read in Bloomberg, that approach can work well if both sides trust each other.If the tenants’ rent covers your carrying costs, that’s a nice cushion, but you still need to clarify that buy back clause.

Usually, when a new client approaches me with a wish list, there are often only a handful of properties actively on the market that are genuine prospects, and these are usually the hottest listings in any market.

I believe there are a few unconventional approaches that work best for OOS investors looking to perform BRRRR in Mid- to lower income communities.  1.

As active realtor, and investor I get a lot of people approaching me who want to invest. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

One common approach is to form a legal entity, such as an LLC, where both of you are equal partners.

Here’s how you could approach this:Set Clear Criteria: Use objective criteria (e.g., income, credit score, rental history) to evaluate applications in the order they are received.Notify Applicants: Let each applicant know you will process applications sequentially and explain your timeline for review.Act Promptly: If the first applicant meets your criteria, move forward with their application and provide them with a clear deadline to sign the lease and pay the deposit.Move to the Next: Only if the first applicant does not meet the criteria or declines the lease should you proceed to the next application.By focusing on one application at a time, you simplify the process, maintain transparency, and mitigate any potential fair housing concerns.Lastly, since housing laws can vary by location, double-check Arizona’s landlord-tenant regulations to ensure compliance with any local rules about how applications are handled.Best of luck with your rental process!

Early in my ownership, a neighboring property owner approached me about purchasing a 6-acre sliver of my land that was undeveloped.