Use your first deal as a stepping stone to long-term success!

There are a few in my area that I keep an eye on to see how successful they might be and I’m always looking for properties with potential to be something grand.

As we have an accounting firm, note I am a bit biased, but here is what I see folks have the most success do: You should start with an accountant who is very familiar with your investment strategy and grow with them until you cant anymore.

These are some of the most successful people; CEO’s, tycoons, celebs, old and new money and investors on the planet.

Focus on fundamentals: buy below market value, have strong cash flow (or a clear path to creating it), and maintain sufficient reserves to weather any unexpected challenges.If you’re strategic and stay patient, this market could create opportunities that lay the groundwork for long-term success.

My husband and I purchased our first Costa Rica property last year and were advised by our agent that in almost 6 years of working in that market he had only ever seen 1 American Couple successfully obtain a mortgage in Costa Rica and it was from Scotia Bank. 

Typically this means they will take longer to close, may not have all the information for the companies they work with, and most hard money brokers get their money by taking an existing product and adding extra points to pay their fee.What is your investor success rate?

Its comical how few people understand how luck in a particular economic cycle plays into their successes. 

Anyone out there running a successful short term rental in the area?

I know people that have had great BRRRR success in Detroit and Memphis, including myself.