Hi all, we bought a STR in 2022 for 380k, renovated it for 200k in 2023, and rented it out in July, August, September of 2023 with an average stay of just under 6 days.

Compare this to other hard money lenders to ensure you’re getting a competitive deal.Reputation: Before working with any lender, it’s crucial to check reviews, reach out to other investors who’ve used them, and potentially even meet with them in person.Experience with BRRRR: If possible, find out if they have experience funding BRRRR projects specifically.

Yes, distributions have been below expectations and way below NOI projections. 

@Caleb Brown -Thank you--the place was purchased early last year by current owner and completely renovated. 

Best wishes on this project Thanks man!

My goal is to build the capital needed to start investing in Real Estate, and I felt this was the best way to get there.I spent 6 years as a project superintendent with a commercial builder, followed by 2 years as a construction manager in the track home industry.

Orange County Projects  @Bryant Brislin

An owner can challenge the number of hours their PMC bills them for a project though.2) Contracting every job out, but the bids aren't shared and owner just gets a bill on PMC letterhead covering labor & materials, with little detail.This is a pretty difficult situation to understand the charges, so you can monitor them. - The smaller the job, the easier to understand using the material & labor steps above.- Larger jobs may require requests for more detail, so the above steps can be applied.Be sure to check your management contract for what you agreed to.

This apartment required a cosmetic renovation that is going to run me around $27,000 to redo.

Thanks for touching base and let me know if there's room for collaboration on any of your projects or just willing to share lessons you've picked up along the way.