Ensure you have a solid understanding of the renovation costs and timeline.- **BRRRR (Buy, Rehab, Rent, Refinance, Repeat):** This strategy can be lucrative, but it requires careful planning and execution.

2-4 unit in New England sounds like a solid next step!

First off, the deals we are using the LOC for are solid, profitable deals even in the worst of circumstances.

Looking to build a solid team over here if possible. 

Here’s a breakdown of the key elements you should include in your subcontractor agreement:Subcontractor’s Information:Full legal name of the subcontractor or company.Contact details (address, phone, email, etc.).Project Information:Internal Project ID or Purchase Order Number (if applicable).Project address.Clear identification of the specific scope they’re responsible for (e.g., electrical, plumbing).Project Timeline:Start Date: For the portion of work they are completing.Completion Date: Set realistic deadlines for their tasks, adjusted to your overall project schedule.Liquidated Damages:Specify a daily amount to be deducted from their final payment if they fail to meet deadlines (with exceptions for factors beyond their control, like severe weather).

also we do not know what is going to happen with int rates, they are very high now, the economy is not good and it is not certain they will be coming down this year. we know there will be more responsible gov spending, so maybe rates will come down, no way to know...I think you need to know the market where you plan to buy well, and go from thereBest of luck

Simplify the structure as much as possible, have clear roles and responsibilities that are not overlapping (meaning only one person is allowed to make certain decisions) and a clearly defined exit plan.

Personally, I love Chicago because I know the market decently well and more importantly have a VERY SOLID TEAM, of people I know, like, and trust!  

I've had it where the utility company would install the new meter then you'll be responsible for everything after.

I furnished 2 STRs for that amount, just go to either high-end thrift stores or a lower-end antique store....you'd be surprised at how little you can pay for solid wood furniture...