Knowledge is power. 

Talk to someone more knowledgeable about what your trying to do.

Knowledge and skillset is a big part of this.

So it takes comprehensive knowledge of the market trends, zoning laws, the local municipalities approval process, survey cost, subsoil conditions, irrigation requirements, development cost, utilities (gas, power and internet), city water or well water, city sewer or POSW to name just a few...A builder developed the farm field next to our SD, bought it for $1.5M and wanted to build 25 homes as a conservancy subdivision.

However, short term rentals are much less passive than long term rentals and are essentially a hospitality business, which is in and of itself required a whole additional layer of knowledge and expertise.With regard to your question about private lenders, it’s important to draw a distinction in terminology between “private” and “hard money.”

@Jay Hinrichs yes to my knowledge there are other states that changed regs.Off the top of my head.

Partnering with an experienced motel operator is a smart idea—it can help bridge the operational knowledge gap and mitigate risks.When evaluating motels, focus on metrics like occupancy rates, average daily rate (ADR), and revenue per available room (RevPAR).

This coming year set the goal of getting more committed to learn and expand my knowledge to avoid previous mistakes taken as well as to be able to effectively continue to expand my portfolio.I’m here to connect with others who are also passionate about real estate, and I’m eager to learn from your experiences, insights, and advice.

Hi Carlos,I am in Madison, WI and we shopped around a lot when moving a few years ago and used Neckerman Agency (now McClone) who are insurance brokers. 

Many BP members rely on myself and a number of others to use our knowledge, experience and analytical ability and provide our analysis of the programs being offered on this site.