Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

It may make sense to save a bit more and invest from a position of power.Keep in mind most helocs are adjustable.

Keep building the business and focusing on saving money. 

Being a one stop shop for mortgage, real estate, and property management helps us save our clients $$$ and they only have one company to deal with and one contact saves time and creates an unmatched synergy.

Sounds interesting if you have a email I can send you the info for a hard money lender I know since they only lend in texas, Colorado,  Georgia,  Tennessee, north Carolina and Arizona 

(this has happened to me before here in Florida) Once you get more info from the agents you can hone in on which area you need to focus on. 

Sometimes those small gestures can save you headaches when construction dust starts flying.I’m curious... now that you’ve pulled off this deal, how would you approach finding your next project differently, and what kind of local contacts would you prioritize connecting with first?

If appreciation and scalability are your long-term goals, consider house hacking or saving for a bigger market later.

Guys like Jay who has done things like been a guest speaker in our mastermind group, Dave Foster who knows 1031s and can help with them but doesn't push anything, Michael Plaks who provides all kinds of good tax info unprompted.

Below is some copy & paste info about our methodology:----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?