I am uncertain how to project what rent will be for over the next 10 YEARS!

And of course don't force him into it just to please you (I'm sure you're not)When you verify that he is truly serious about starting the journey, I would 1) have him do an extensive goal-setting plan.

It will firm up quotes from the subcontractors, make your contracts much stronger  and also make the project move far smoother with better communication between the trades and reduce the risk of change orders. 

Hi Josh, Additionally, consider building conservative assumptions into your financial projections to account for potential market fluctuations, economic uncertainties, and unforeseen challenges.

While I'm just beginning my journey in this industry, I'm passionate about real estate investing and eager to learn from experienced professionals.My goal is to build strong relationships with both buyers and sellers, ensuring smooth transactions and mutually beneficial deals.

Yes the interest rate is higher but it gives you optionality, in case your extra money for helping pay the 15 yr note disappears or your investment goals or priorities change for that money.

So I have done a fix and flip with two even split partners before however they were a family and a friend so it made it really easy (in my case) to work together and get the project done.

., sole proprietorship, partnership, LLC).Ultimately, it's essential to work with a tax advisor or accountant who understands your specific situation, goals, and the nuances of rental property taxation.

I also do project management and budgeting.

That’s my job, to represent my client’s best interests, negotiate to help them best achieve their goals, abiding by all the laws, Fair Housing and Code of Ethics along the way.If someone doesn’t want to sign an agreement with me, they are free to consider another Realtor® who has a different business model and practices, or even go forth unrepresented.