I'm in Spartanburg and starting some new construction projects.

We liked the idea of partnership on a bigger project with the specific MTR strategy in order to increase NOI and exit in 3-5 years.

I only charge markup on maintenance if it's a larger project that requires more coordination, supervision of the work, and inspection after completion.

Projected rent $7000/ mo.

That trial period lets you see which method works best before scaling up.Moreover, the consistency and success of any agency largely depend on how well you follow up with your project manager and monitor the KPIs.

Depends on the town’s rules, though, so check that first.Renovation Loophole: Some places let you raise rents or get out of rent control if you do big renovations.

Great projections!

@Damien Davis you'll make less on the initial projects but the experience you'll gain will be completely worth it.

Regardless, you might find the copy & paste info below helpful:)--------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Beyond the lessons from the projects themselves, building a business that’s efficient, diversified, and focused on the luxury market has been a game-changer.