Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

hi all i am a new landlord and got my first rental property. tenants moved in in September and October. the first month was fine but when December hit it got extremely cold and the heating is electric. due to poor insulation in the home that we did not know about the heat has to be turned very high up to keep the home warm, however since everything is electric it is causing the electric bill to be $800. the utilities are the tenants responsibility. however because of this one of the tenants has been extremely non compliant with paying rent.

I hired my own expert and discovered these issues did not exist but that the expert the 3 buyers had brought in wanted to be hired to do the work so they blew them out of proportion.

By understanding the costs you may encounter upfront, you can take control of the process.Here are just a few things experts say you should be thinking about as you plan ahead.1.

Here are the biggest mistaken assumption unsophisticated investors make when contemplating an investment in a deal1- that the Sponsor is an expert in the field of investment2- that investments, economic markets, financial markets are predictable with any accuracy3- that PROJECTED returns are PROMISED / GUARANTEED returns4- that because they NEED their investment to be liquid the sponsor will provide said liquidity5- that the “deal” is more important than the sponsor. 

They don't even sell courses.So, Licensing Experts definitely aren't a guru. 

It doesn't have to be one extreme or the other.

Hey thank you very much for the advice, yeah I have been extremely successful within the stock market and do love it so I appreciate the help.

You’ve heard from several experts I respect so nothing I say below is any reason to believe otherwise.

That is the reason why you will see DSTs commonly invest in single tenant assets where a long term lease is in place with an extremely stable tenant.