This year I am ready to make my first step towards financial independence.

Letting Go for Your Bottom Line: A Lesson for Real Estate InvestorsHey BiggerPockets Community,If you’re a real estate investor, whether you own rental properties, flip houses, or manage syndications, there’s a critical lesson that could boost your bottom line: Letting Go.Many of us get into real estate because we want control over our financial future.

I created an electronic google doc time tracker: Time LogContemporaneous time log of rental real estate activitiesActivity DescriptionTenant recruitmentTenant screeningNegotiating and executing leasesOverseeing repairs and maintenanceCommunications with tenants and vendorsTravel timeResearch for potential rental real estate (pub 925)Acquiring rental real estate (pub 925)Paperwork/bookkeeping/bankingResearch and purchase of materialsRent collectionEvictionOn-site cleaningBill paymentOther:Time SpentDateMM/DD/YYYYSubmit

Quote from @Patricio Acosta: I finally found the perfect flip in Coronado, San Diego—the agent hasn’t received any offers, the listing price is reasonable, and the home has huge potential.

Their focus on attracting higher-end guests may reduce potential issues.

Lots of growth and appreciation potential.

If you’re feeling uneasy about the potential headaches, you might consider a local property manager who specializes in room rentals or shared housing.

It gives you insights into occupancy rates, average nightly rates, and revenue potential in your target area. 2.

SO expect to pay a premium based on what the potential value of the building can be once maximized and stabilized.

@Olivia Blake how much money will you potentially lose by strong-arming a tenant and then having them break the lease early - or even just not renew?