The average person thinks about a dollar and how they can spend it.

My business card I do probably have a $10k spend a month on it, but I dont really carry a balance on it, except a little in dry seaons to better manage cash flow.

If we decide to refi in 3-5 years, though, we may time a couple of the leases to end at the same time and spend ~$6k to tear 2 rooms down and rebuild them.

.- You close on December 10th- The property is in great shape and does not need any significant repairs- It only needs some paint touch-up and changing a couple of broken fixtures, which you do yourself- You spend the next week buying furniture, electronics and supplies and installing/arranging everything yourself- You also roll up your sleeves and scrub the toilets and sinks and appliances- You put it on AirBnB/VRBO and have your first guest renting it for the 3 days of Christmas- You second guest rents it for the following weekend and leaves before NYE- You personally clean and restock the place between these two guestsCongrats!

But they'd rather spend their time finding more syndications then worry about current investors. 

There’s a lot of valuable information out there without spending thousands of dollars.

Easiest and least costly is to go there and spend a week or so to get everything in order.Another one is to hire someone trustworthy and pay them to put it in their garage or in a storage unit for a month

I'm going to get a survey regardless, but I'd like to line all this up before I start spending on soft costs.The weird thing is I see other investors doing these DADU deals and I've never heard anything mention the above requirements / scenario. 

Land Entitlement is one of the riskiest Real Estate investments for several reasons:1) High Upfront Costs with No Guarantees: We spend tens of thousands of dollars on due diligence to ensure the property is suitable for development.

Hi Brandon,Personally I think it all depends on what kind of "avatar" you are.If you have high risk tolerance and have time to spend, active strategies like flips and BRRRRs will yield better returns and more opportunities.