Market- rental rates, occupancy, inventoryLoan- rates, term- amort/balloon, down, Capex- budget and management.LP terms.An LP plays the role of a banker.  

This could involve offering a higher interest rate in exchange for reduced upfront costs or deferring payments until a certain milestone.If building right away isn’t feasible, consider buying the lot now with the goal of paying it off over time, and save up to build when rates and budgets align.

That stuff I can hire out more in the future but I am choosing to put more of my maintenance budget in my pocket for now. 

To plan investment and future rental goals in Albany, research market trends, explore financing options, understand landlord-tenant laws, manage property early, budget for maintenance, and connect with local investors.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Our budget is <$250K for a T2.

Set a clear budget, research properties carefully, and keep growth potential in mind as you plan.Good luck!

Can stay in the same budget and use the excess to invest or trade up.

Things like your vacations, entertainment, toys, food, clothes, housekeeping, pets, guns etc.

We were one week over our original schedule (unfortunately our budget was much further off and my most off budget ever).- is your mentor unable to provide referrals, insight, assistance?