Lessons learned?

If you did not use one - unfortunately its an expensive lesson learned that in real estate transactions this is why you use the paid experts.

DSCR and hard money makes this pretty easy, but you would still be expecting to put down 20% on DSCR and a bit less on hard money. 

I’ve had experience with real estate investing in the past, but now I’m planning to dive into fix & flip projects. Even though I know the numbers well from my previous experience, I’m sure there are some unique ch...

It may be frustrating but check your state and local landlord tenant laws regarding this because it could be an expensive lesson for you if they’ve followed required procedures.

Lessons learned?

Just yesterday I talked with a gentleman that was wanting to sell me a six month training going over two lessons a month in buying  apartments.The cost was basically 3k or $250 a session which would not and should not break the bank.

If the property doesn't meet the DSCR or the value basedon the market cap rate, your down payment will increase to bring up the DSCR orclose the gap to cap-rate value.Challenges/Lessons Learned: Just becauseyou can buy a property with a CMHC insured loan doesn't mean it is a good deal.We've seen a lot of investors agree to pay too much for the properties, and getshocked with a big down payment and low cashflow due to the low DSCRrequirements.

We learned this lesson the hard way: Never stop talking to prospective buyers until you've closed. 

So take a lesson, from an elder.Don't engage back, sometimes the most powerful instrument is silence.