Quote from @William Thompson: One thing I’ve noticed working with a lot of investors is this:People spend a ton of time researching markets, strategies, and financing…but almost no time building the habits that actually keep their portfolio healthy long-term.Here’s the simple truth:Your systems will make or break your growth.Not the market.Not the deal.Not even the interest rate.I’ve seen investors with average deals but great systems outperform people buying in the best markets with none.Things like:Keeping clean booksTracking expenses in real timeReviewing your numbers monthlyHaving a game plan before tax seasonThese aren’t exciting, but they’re the difference between “I think I made money” and “I know exactly what’s working.”Real estate is more forgiving than most businesses… but eventually, disorganization catches up.The investors who last are the ones who treat it like a business early — even when they only own one door.What’s one system or habit that’s helped you stay organized as your portfolio grows? 

Hey Aaron, welcome to the game.

The total project cost through opening is $800,000, broken out as follows:-$150,000 white box-$160,000 liquor license-$110,000 sprinkler system and new hood-$106,000 kitchen and bar equipment-$140,000 fit out-$40,000 tables and chairs-$90,000 critical-path items to openingI was already prepared to invest $200,000 towards fit out for a proven operator.

-How did you assess execution ability vs. just talking a good game?

I’ve been looking at different STR models lately (not Hawaii specifically), and one thing that keeps coming up is how big of a difference the marketing side makes compared to traditional PM.A couple things I’ve noticed from other investors’ experiences:• Direct booking + strong branding can make a huge impact in high-end STR markets• Relying fully on OTAs (Airbnb/VRBO) in luxury areas usually leaves money on the table• Having solid boots-on-the-ground is huge — not just for cleaning/turnovers, but for fast response times, quality control, and protecting the guest experience• Areas with high traveler expectations tend to reward hosts who manage the “guest journey” themselvesBreak-even cash flow being important makes sense, especially with Hawaii’s pricing and regulations.

I know for me, technology has been a huge game changer in my business.

Pittsburgh is where we are going to settle down and we plan to then expand throughout Appalachian states.We have property management experience and personal funds to put skin in the game.

If inflation cools and jobs stay soft, another rate cut in December stays on the table — but nothing’s guaranteed.💼 Job Market: A Slow October FinishADP’s private payroll report showed 42,000 new jobs in October, but their new weekly data suggests companies cut roughly 11,000 jobs per week late in the month.👉 Bottom line: The job market’s losing some momentum.

There will be one more FOMC meeting in December which will determine whether another rate cut is on the table.

So a long term play may have some short term consequences, but it should become a true investment eventually given the historical appreciation of RE over the long term.To make money in the short term in RE, is another whole ball game.