To do this, investors should be looking to sell or exchange out of these types of properties: High-Risk/Growth Properties 1. condominium units 2. debt-financed acquisitions with thin capitalization (low downpayment) 3. property purchased under development contract 4. development units recently built 5. vacation properties 6. raw land in developing areas 7. high-income or luxury single family residences.

Discretionary spending power continues to dwindle and household debts continue to increase.

But we have an LTR quad that gets $13k/month that was purchased for $775k (using a refi from the duplex STR from above as we had total household income of ~$40k at the time).  

Way more multifamily units (not even counting another 675,000 single family units under construction) than new household formations coming for 2024.Operating expenses, including taxes, insurance, maintenance, etc. are skyrocketing, and likely not all fully absorbed in the average property.And, alternatives that produce more cash flow than a 5% cap rate (average for prime multifamily real estate currently) with less work and less risk, like private lending, short-term treasuries, money market accounts, etc. 

We have our household account and my personal accounts with Columbia Credit Union.

RevocationCompletion NoticeCondominiumConsentContractReimbursement ContractSeperation ContractSewer ContractContract AddendumContract AssignmentContract ModificationCorrectionCovenantUtility Service CovenantCovenants, Conditions & RestrictionsCovenants, Conditions & Restrictions AmendmentCovenants, Conditions, & Restrictions ModificationCovenants, Conditions & Restrictions ReleaseRequest for Access/CopyRequest for Disclosure of DischargeRequest for Exemption from Public DisclosureDeath CertificateDeclarationHomestead DeclarationHomestead Declaration AbandonmentDecreeDedicationDeedDeed of ReconveyanceTransfer on Death DeedDeed of TrustDeed of Trust AddendumDefaultDischargeDisclaimerDiscontinuanceNotice of DiscontinuanceNotice of Discontinuance of Trustee's SaleDissolutionDivorceEarnest Money AgreementEasementLandscape EasementSewer EasementSidewalk EasementWater EasementEasement AmendmentEasement AssignmentEasement Partial ReleaseEasement ReleaseEasement VacationEstoppel CertificateExecutionExtensionFederal Tax LienFederal Tax Lien AmendedFederal Tax Lien Non-AttachmentFederal Tax Lien Partial SatisfactionFederal Tax Lien RefileFederal Tax Lien RevocationFederal Tax Lien Revocation of ReleaseFederal Tax Lien SatisfactionFederal Tax Lien SubordinationFederal Tax Lien WithdrawalFindings of FactFirst Right of RefusalFixture Filing = UCC-Uniform Commercial CodeUCC AmendmentUCC AssignmentUCC ContinuationUCC Partial AssignmentUCC Partial ReleaseUCC TerminationForeclosureNotice of ForeclosureForest LandForest Land ReleaseForfeitureGoing Out of Business SaleHazardous Substances CertificateHistorical RegistrationHomestead DeclarationHomestead Declaration AbandonmentIndemnificationIndentureSupplemental IndentureIntent to LienInterlocal AgreementJudgmentLand UseLandscape EasementLeaseMemorandum of Lease = LeaseLease AddendumLease OptionLease ReleaseLease RenewalLetterLicenseLienChattel LienFederal Tax LienLien Amendment Support EnforcementLien SearchLien Support EnforcementLighting Utility DistrictLis PendensLis Pendens ReleaseLoan Modification = ModificationMaintenance AgreementMarriageMarriage ApplicationMarriage CertificateMemorandumMemorandum of Lease = LeaseMemorandum of UnderstandingMergerMineral ClaimMining ClaimMiscellaneous DocumentMitigation CreditsModificationContract ModificationCovenants, Conditions, & Restrictions ModificationLoan Modification = ModificationModification of Deed of Trust = ModificationMoratoriumMortgageMortgage ModificationMulti DocName ChangeNon-DisturbanceNoticeCompletion NoticeNotice of ContinuanceNotice of CureNotice of DefaultNotice of DiscontinuanceNotice of Discontinuance of Trustee's SaleNotice of ForeclosureNotice of Intent to ForfeitNotice of Intent to Forfeit AmendedNotice of Trustee's SaleNotice of Trustee's Sale AmendmentNuptial AgreementOpen SpaceOptionLease OptionOrderOrdinancePartial AssignmentUCC Partial AssignmentPartial Assignment of Deed of TrustPartial ReconveyancePartial ReleaseEasement Partial ReleasePower of Attorney Partial RevocationUCC Partial ReleasePartial SatisfactionFederal Tax Lien Partial SatisfactionPartial Satisfaction of Lien Support EnfPartnership AgreementPatentPayment of Inheritance TaxPermitPlatPlat AmendmentPower of AttorneyPower of Attorney Partial RevocationPower of Attorney RevocationProcess Server FeesProclamationPromissory NoteReconveyanceRedemptionRedemption ReleaseReimbursement ContractReimbursement Contract SatisfactionReinstatementReleaseCovenants, Conditions & Restrictions ReleaseEasement ReleaseFederal Tax Lien Revocation of ReleaseForest Land ReleaseLease ReleaseLis Pendens ReleaseRedemption ReleaseRelease of Attorney LienRelease of Inheritance TaxRelease of Lien BondRelinquishmentRemovalRemoval from Real PropertyRemoval of Condominium statusRequestRequest for Access/CopyRequest for Disclosure of DischargeRequest for Exemption from Public DisclosureRequest for NoticeRequest for ReconveyanceRescissionResignationResignation & AppointmentResignation of TrusteeResolutionRetentionRevocationCommunity Prop.

I would first ask what does your Household Budget, Income Statement & Net Worth statement look like?

This type of real estate also has the highest rates for insurance, maintenance, and property taxes—expenses that can really cut into ROI.In fact, some of the most profitable Miami vacation rentals are condominiums, especially those in beachfront high-rises.

Have any of you done a utilty split per person in the household?

Hello folks!Today I have an issue I need to leverage the collective wisdom on the BP forums for.I have a terrific tenant (single woman) who recently asked for her boyfriend to move in.  So, I had him fill out an appli...