That truly determines the successful from the unsuccessful, making it happen despite all the odds against you.I have a similar story of finding real estate and achieving financial freedom over the course of 4 years, going from 0 to over 300 doors.

This gave us peace of mind and ensured that any unexpected incidents wouldn't result in major financial setbacks.These two choices have played a crucial role in optimizing our STR strategy, balancing profitability and protection.

@Jordyn Ohs Suggest you run a financial model and assume 100% vacancy.

Wealth Building: Paying off the first STR focuses on cash flow and financial security, while buying another property focuses on scaling and wealth building.

Meet with financial advisers/wealth managers and see what other options other than real estate there are and how to best allocate / diversify. ie have you maxed out your TFSA?

Looking to discuss with lenders on financial options.Please DM methankskaushik Sarkar

Essentially, it was one account with the bank tracking individual tenant details on your behalf.That said, it’s critical to ensure your financial records remain accurate by reconciling the account on a monthly basis.

I do not know your financial situation, but what is $700/month to you?  

(Auctions and foreclosures can also provide great leads.)With $20K, hard money loans are a practical option, as they emphasize a property’s ARV over your financial history.

It requires a solid FICO, that you get pre-approved with all current financials held in file beforehand, with the complete contract package submitted upon execution which starts the clock; insurance must be arranged within three days for lender underwriting.