I believe the key to it is having a professional mail piece and when you speak to the owner, don't tell them you want to purchase their property at a 10 cap.

@Terrell GarrenThis is a very useful piece of wisdom.

@Catherine Kim I would love to connect and keep in touch, if you don't mind - I just purchased a piece of property in Yucca Valley, and am beginning the process of investigating home builders and contractors.

This will dictate where you purchase and look for properties based on that number alone.My point is that you always start with the end in mind and work it backwards, this creates the strategy (Buy and hold, flip, Wholesale, Notes) which will be driven by the tactic (SFR, MFR, Mobile homes, Short term rental etc) I always coach people and explain that the property is actually the last piece of the puzzle not the first.Hope this helps

Does anyone have any other top-notch management company they would recommend or experience with Greystar?

Meredith:I'm only licensed to practice law in your state of Minnesota, so keep that piece in mind. 

We know a STR operator who had furniture stolen during a vacancy, so this gives us piece of mind. 

Therefore, the balance sheet impact from that, simplistically, would look like this:AssetsProperty (Which is divided into two pieces)LandImprovementsLiability & EquityLiabilitiesMortgage on the propertyEquityPaid in Capital - Money you contributed for the down payment

Well, if you put all the pieces together we are not on a good trajectory.

Our vacation rental is 2700 sqft give or take and it is a piece of cake to maintain.