You’ll need to treat it like a business—handling tenant management, accounting, legal compliance, property maintenance, and more.That said, when done correctly, it’s a powerful tool for building wealth!

Great place to meet other investors, agents, property managers, and contractors.

The place where you can add value with no money is a situation like: you find project A, it is a 120k purchase and it should need 80k rehab but you can get rehab done for 65k cause you can do some of the work and you know how to save on materials and you can manage the rehab. 

Then pay them a fee for finding the deal and pay them 8-10% of rents to manage the rental(s).

Until then, I'll be trying to absorb everything I can to fine tune my approach and prepare for managing REI business post-acquisition.

Using an unexpected repair as justification for not caring about cashflow as much as appreciation doesn't really address the issue, especially when appreciation also operates on the idea that the property's condition doesn't decline relative to comps.From what I understand about REI and cashflow, cashflow should cover not only PITI, but maintenance, repair reserves, prop management, etc.

A bit concerning if the market takes a turn but overall and overtime we will be in a good postion.PS - Since 2003, Dean & DeWitt Property Management has helped investors buy, sell, and manage investment properties in the St.

Quote from @Josh Otero: Hi BP community, I know you've got some crazy tenant stories and I want to hear it.I'll go first:1) I was managing a 5 story apartment building and a dog fell off the 4th floor balcony because of the owner not paying attention.

Doing real estate and managing other peoples money from a fund are two very distinct skillsets.

Quote from @Krishnan Iyer: Hey Tom, I use Stessa to manage all my income and expenses (bookkeeping) for all my properties.