Cost per lead (CPL) is crucial—it shows how much you're paying to get a potential seller or buyer’s info, and you want this as low as possible without sacrificing quality.

That's a very low amount given it's a commercial property.

Common sources of such properties include:Foreclosures: Homes that have been repossessed by banks due to non-payment.Distressed Properties: Homes that are in poor condition and need a lot of work.Auctions: Properties sold at auction for below market value.Off-market Deals: Properties that aren't listed on the MLS but are available for sale through direct outreach or networking.The key is to buy a property at a price low enough to ensure that even after renovations, the home will appraise for a higher value.2.

Any advice is always appreciated.I have been BRRRR-ing in Milwaukee since 2008, if you look on my BP profile page you'll find a video.

Idle money is the quickest path to low returns and does no good for anyone.

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

Even though there is low inventory, interest rates are high, and many properties don't cash flow, look harder there are always deals, you just need to find/make them.

Mortgage rates and PMLs are 8-12% plus points right now so the deal has to be a low enough entry. 

Hey @Brett RiemensniderThere are a TON of banks/credit unions that will offer as low as Prime on a heloc on your primary residence.

Make sure you buy it low enough to make it worth the trouble.