Lots of old properties where I'm at, so it isn't unusual to expect $10k+ of capex out of the gate for water heaters, putting in central air possibly, and other old property issues.

I believe that successfully navigating this initial investment will pave the way for future opportunities, whether in the same market or elsewhere.Living in New York City, I faced a challenging market ;)I chose Montgomery, Alabama.Here's my process:I compiled a list of states with favorable landlord laws.Using Brightinvestor, I identified cities within those states where the median home price falls below the national average ($420k).I excluded cities with negative income growth and rising unemployment rates.I focused on cities with strong appreciation rates over the past five years (over 10%).I compared price-to-rent ratios.I did break two rules: Montgomery has a slight decline in population, and its largest employers are an Air Force base and government agencies.One significant factor that influenced my decision was the promising price-to-rent ratio, suggesting potential for positive cash flow (though I remain cautious about appreciation).Regarding my acquisition strategy:I plan to employ the BRRR method with cash.

I thought my tenant screening was air tight, but apparently not.  

I'm looking at buying a self-serve car wash and force value / revenue by installing a car port / detail bay for a mobile detailer to be stationed there weekly and offer custom detail services.

This step must be done carefully to avoid further damage.Structural Repairs: Address any structural damage first, including the roof, walls, and foundation.Systems Repair: Repair or replace electrical, plumbing, and HVAC systems as needed.Interior Restoration: Once the structural and system repairs are complete, focus on restoring the interior, including insulation, drywall, flooring, and fixtures.Safety and Health Concerns:Air Quality: Ensure proper ventilation and air quality during and after the restoration process to remove smoke odors and contaminants.Mold Remediation: Check for and address any mold growth, which can be a common issue in fire-damaged properties due to water used in firefighting.Final Inspections:City Inspections: Coordinate with the city for final inspections to ensure that the property is safe and habitable.Fire Department Clearance: Obtain clearance from the Fire Department confirming that the property is safe to occupy.I hope this helps, best of luck!

Just sold a property in Port Richey and the buyer's flood insurance premium for the year was 11k for a 250k property.

Now is the time to be investing in Wenatchee, Washington.This year the area's first Hydrogen plant is scheduled to start operating a $25,000,000 project.Northwest Natural Gas is putting in a $43,000,000 natural gas plant.In May of this year, the Washington State Port Association awarded The Chelan Douglas Regional Port Authority The 2024 Job Creator Award for creating jobs in the area.Earlier this year at a state of the economics luncheon it was rumored that the area will have over 25 data centers in the future.I was recently at a community meeting where Helion Spoke about putting in the world's first Fusion plant.

Hello all, we are so excited to close on our first StR/ MTR that will be a complete gut job. The property is a 3/2, in a great family friendly area and very close to a commuter college. It’s in very bad condition righ...

I've never had a temperature complaint because our system puts out so much cold air that most people (including myself, who loves AC) are freezing at 72 degrees, because the thermostat is upstairs so the system will come close to running non-stop at 72.

Which area is better for LTR SFH, Cape Coral vs Port Charlotte vs North Port, or Punta Gorda?