I would go on more podcasts but right now I can't take the time to do it with all the irons I have in the fire, but it is something I hope to add to what I do for the hope that I can help others learn that they can get out of their financial positions and life can be better. 

Quote from @Chris Seveney: Quote from @Robert Adams: As we move into February, the Las Vegas real estate market is showing positive signs of recovery after the holidays and the conclusion of the presidential election cycle.

If STRs become less profitable, you need to ensure the property can still generate positive cash flow with a traditional lease.

Your position won’t recover for 15 years.  

Go be an ISA....prove yourself valuable and move around between the different positions. 

If you buy in the right market you will be able to get some equity out of it and make your next deal.  

Purchase price: $640,000 Cash invested: $220,000 Purchase price $640,000Got it at this price because there is a non-paying tenant in unit 2 (rent value $3,500), we're in court Rehab $60,000All in cash (rehab plus down payment) $217,500Rehab included ground level basement and 2 parking spot drivewayMonthly cash flow $1,500 ARV $950,000Equity $470,000Refi cash out (August 2024) $150,000 (used to buy new rental)New monthly cash flow breaking even (non-paying tenant still in unit 2)New equity about $200,000

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

That said, I do work in a commission-only sales position right now, of which I have no issues with, and have studied on topics of underwriting/modeling, finance, development, among many others.

Additionally, in the past six months, I’ve reviewed about 45 multifamily properties (ranging from 10 to 80 units) for my real estate private equity firm.