Sales is a time-intensive venture, and it takes years to develop a pipeline of clients.

Last year we began testing different places by staying in Carrillo and Junquillal with day trips to a lot of other nearby beaches. 

My main goals with these initial projects are:1.Gaining valuable insights into the local market.2.Getting hands-on experience with out-of-state investing, particularly when it comes to remodels and managing from afar.3.Testing the entire BRRRR process to see if it’s the right strategy for me long-term.If all goes well, I’d love to scale up and explore multi-family projects.

It’s like a built in test. 

Why not test the market by putting the lots up for sale, and if nobody bites, that might provide your answer. 

However, after tenant moved out on 9/30/24, the pool for interested tenants was shallow and so we listed the property to test the market and ended up getting an offer at asking price within a couple days.

Having developed a majority of my career in CA the regulations and red tape for construction and development are intense. 

If you have the time to devote to it, direct to seller methods can be very effective, but will take ultra-patience and intensive work. 

I assumed some would need replaced, which would be okay, but I would hate to see it all trashed.I guess in that vein though, I hear that a lot about LTRs -- the horror stories -- and we have been blessed with amazing tenants (generally) so I was thinking it would be along the same line where it would be something where you would want to charge high-end and screen intensely to try to get a tenant that just is transitioning and can benefit from the furnishings.I know that could still happen though, even with all the precautions you can take, so it's something good to consider! 

Your clients should focus on properties with significant equity potential and work with experienced contractors to stay within budget and timeline—especially with borrowed funds on the line.Avoiding Bad Deals - Encourage them to work with experienced agents, contractors, or mentors and always run multiple scenarios, including worst-case outcomes, to stress-test their numbers.Reserves - Advise your clients to keep a reserve fund separate from their loan for emergencies, unexpected expenses, or delays.