It’s not always easy, but each challenge has taught me something new.

Challenges?

Rise to the soul challenge, Steve.

Combine this with interest rates that are near the high for this century and cash flow is challenging.  

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

Flipping on a land lease with high HOA fees = challenges that could impact profitability. $700/month HOA fee may deter buyers, elongating your resale timeline, and could push your ARV closer to the lower end of your range.

@Diana Teng Buying your first rental property out of state can be a solid move, but it does come with its challenges, especially if you can’t scout the area in person.

Hey @Dan ErmolovichSorry to hear you’re facing this challenge...evictions are one of the tougher aspects of real estate investing, and being out of state adds to the difficulty.

Many investors have had to get creative by emphasizing other property perks, like pools, proximity to local attractions, or unique experiences, to offset any beach access challenges. 

The challenge for me will be to attempt to mirror this type of financing approach to Southern Calif. real estate.