If I have a decent emergency fund, I hate having money in the bank.

So i am a 23 year old who has worked his butt off since 2020, i currently have 20k saved for a down payment and by the end of the year i hope to have a maxed out emergency fund maxed out and potentially 30k for my house fund.

I would also add that I'm using ChatGPT to write my new Policy & Procedure Manual - it's making the process so fast and efficient it almost feels unfair.]

Louis offers affordability, cash flow potential, and emerging market opportunities but also presents management challenges, unfamiliar markets, travel costs, local regulations, and crime rates.

Hi Steve,The Dave Ramsey way of doing things is to write out a new budget every month, sell off anything you don't need or use, get yourself a small emergency fund.

A dryer is not an emergency and the tenant should be patient while you coordinate the repair.Because they ignored your instructions and chose to hire their own vendor, they should pay for the repair.I also recommend you learn how to handle aggressive or abusive renters.

Industrial is great too, long term, but a little overpriced still for now. or sell, pay the taxes, invest in VOO, get 8-10% next 30 years, or invest in REITs, get 10-12% next 30 yearsor buy MUNIs, i'm getting 5% tax free, which is an effective yield of  7.94% for part of my emergency fundIf you die 1 day , 1 yr, 1 decade after you sign an Annuity, they keep all your money, your wife/kids get nothing, unless you add them, but then the returns do go way down and they were low to begin with, Remember the Annuity company is investing in VOO and last 20 years got 13% a year, (long term 8.4% since 1801) they pay you 6 and keep the rest, good luck brother :)

Research emerging neighborhoods, find properties using MLS, Zillow, and Redfin, explore financing options, form partnerships, analyze deals using BRRRR calculators, and manage the rehab process.

A Lot of agents 1) don’t really know all the intricacies/procedures/rules/strategies to do a short sale and 2) don’t want to do all the extra work involved in one, for no extra fees.Attorneys are not great for negotiating/processing shorts sales…they often slow the process down are not needed.If it comes to that point, have a talk with your agent, and their broker, about switching to an agent with short sale experience.You would need to show a financial hardship though….as in you can Not afford to pay the negative cash flow indefinitely. 

Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.