It doesn't take long to learn how to spot a good deal.6.

Lessons learned?

Visit the property and learn about various renovation stages, gain insights from our experienced investors / speaker, and learn strategies for evaluating deals, managing budgets, and maximizing ROI.What to expect:Property walkthroughsReview before photos and discuss transformation plansDive into real deal numbers—costs, profits, and challengesNetworking with industry prosOpen Q&A session to ask anything about the process

Let me know if you are interested in learning more.

Taylor, You are on the right track by asking questions now and starting to learn as much as you can.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I've learned a lot this way.  

Hi, BiggerPockets community,My wife and I have been trying to close on a property for quite some time in the New York area and have not had any success, so I'd love to connect with anyone and everyone in the area or surrounding markets that we can learn from to make that happen!

I’m learning that time, consistency, and patience are helpful. 

We bought it because it is a beautiful property in solid location and I wanted to learn the STR model.