another property to the portfolio, and a continued relationship with a live long client Lessons learned?

Flipping homes in San Diego has been an incredible journey, and over the years, we’ve learned a lot about what works—and what doesn’t—in this market.

There comes a point where having a real estate-savvy tax preparer outweighs your time learning a new software. 

It sounds like REsimpli has a lot of value and combines a lot of features so I don’t need to pay for subscriptions to 10 different platforms (and invest a ton of time learning their systems only to discover a better option and start the process over again).

Learned a lot and came out with $14,000 in my pocket Lessons learned?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Section 8: Rents are too high for the program and cash paying tenants are better overall.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsSection 8: Rents are usually too high for the program.Class C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Between now and then, I am committed to learn and connect as much as possible!

Learn how to source motivated sellers and negotiate win-win deals.

Definitely don't sell it and buy cheap Class C in Texas or other state for "cash flow on paper" - I learned a painful lesson with those types of properties. 

@Heather Bailey they will ask you what style of renting you plan to do.