Many of the STR investors jumped in because they saw some YouTube videos about how to get rich quick with STR, they had COVID money to burn, so they jumped in.

They are partying, drinking, playing loud music, burning their BBQ, smoking, and throwing up all over the carpet and couches. 

I haven't had anyone burn me yet and some folks even ask to pay 100% up-front to get it out of the way.If I may, one thing I'm curious about though that you all might do is credit cards.

@Sonya GulkaI’ve just just started looking into real estate investing over the last 2 months but I’ve been burning thru BP’s podcasts (started from the beginning and I’m at 71).

These three myths are exactly why people get burned.

Too much fire and we burn down our homes, burn up our cars, destroy thousands of acres of forests and bring down the World Trade Center.Debt is like Water and Fire. 

I had a bad contractor I burned cash on, a break-in and theft, and then had to put more money into the rehab than I thought.

I would get a second opinion.Again, if the place burned down, would you pay the tenant a place to live for a year?

You have a balloon coming anyways, so all you're buying is a few months of lower interest and in the meantime you're burning days trying to figure out how to pay for the rehab. 

I even got an email from a private lender offering a loan AND the collateral due to the borrower burning through capital and now they are stuck with it.