It wasn’t how I wanted to kick things off, but I worked with a contractor to get the bathroom fixed and functional.Once that was behind me, I focused on improving the building and maximizing income:I installed a shared washer and dryer for the tenants, a major upgrade that added convenience and increased the property’s value.I rented out the two garage parking spaces, bringing in consistent revenue.I also raised rents for the second- and third-floor tenants I inherited to be just below market-rate.

You said you are new to real estate investing but you have a background in residential real estate - what does the background consist of?

As I found out later, that couldn’t even come close to what was needed, and Chris knew it.The next two weeks consisted of frenetic work by the second contractor and his crew of three.

This platform is designed to greatly assist you in networking and gaining knowledge about real estate.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

Medford (North Boston) happens to be a low supply/high demand market so I absolutely need to get more comfortable with consistent rent increases but those increases need to be researched and in line with the market. 

@Reeti PeshawariaThis is a bit tricky to do since STR regulations are an emerging political topic so regulations are consistently shifting.

It often takes living and breathing the industry around the clock for a few years before you start seeing consistent returns.

Focus on STR-friendly areas like Newburgh or Highland Lakes, and use platforms like AirDNA to assess revenue potential.

Also, I’ve noticed that the unknowledgeable persons who are most likely to be suckered into spending time and money on these “programs” all have a basic gullibility that leads to them making comments that have remained remarkably consistent over the last 40years.