Set clear goals, stay accountable, and celebrate small wins along the way, getting started is the hardest part, but you’re on the right track!

The moment the first payout hits your bank account, all that goes away.

In addition, all Rent payments hereunder not made within five (5) days of the due date shall bear interest at the rate of one and one-half percent (1-1/2%) per month"The monthly rent is $1550 so the late fee is easy - I've set the account to charge 5% if the rent isn't received within the 10 days stated ($77.50).

I specifically want to call out one of their Senior Accounts Associate, Charlotte Cunningham, who helped me through the process on my first purchase as I needed to buy a sizable amount of furniture quickly and she was able to help me make moves quickly...and didn't make me feel bad whatsoever when I pulled back a few items at the last minute I was able to find them cheaper elsewhere.

And that's not even taking into account the regular tenant BS.

There's no step by step guide but there are key things : Learn: RE strategies, what interests you, what do people in your area need.Connect: find a mentor, accountability group and be around those doing what you want to do.Help: solve problems- do people need dealflow, property mgmt, construction expertise, etc. 

Am I underwriting conservatively, accounting for higher interest rates, inflation, and potential market softening?

However, I've learned a lot from that experience and am willing start over again- Make sure you stay on the top of them and fully account for the draws being taken as if they (Builder) have multiple projects I've seen where one individual's draw gets comingled with another property.

:Just found this thread here today and created an account to post.

@Hellen Sut in Michigan, once we have a money judgment, we try to garnish: wages, bank accounts and their state tax refund.