Furnished Finder Expected Rental Income: $750-$850/mo PER ROOMWhat I Learned: - Serious investors will write on a deal that fits their buy-box- Knowing your buy-box will create an easy decision making matrix for you to move quickly on deal that work- Have your "ducks in a row" so when you find a deal that works, you can perform - Be someone who performs in contract - barring glaring issues with properties - if you write on a deal AND close, you are more likely to be presented with future deals FIRST because you take action - Be someone who other people and other agents ENJOY working with.

Buy Box: - Within 15 minutes to a major hospital - Within 10 minutes to a Starbucks (LOL)- At least two bedrooms- Light Rehab Only (paint/floors/decor)- Furnished Finder Expected Rental Income needs to be 25% over PITI How did you find this deal and how did you negotiate it?

We cleaned up the issues and problems, and maximized the income which increased my NOI.

Lesson: don't do illegal things like rent out units that aren't up to code  - some people with paid off properties try to be cheap and do things like this or do under the table rent so they don't report rental income to the IRS.

It's shown that over 85% of investors who take out a Heloc refinance to consolidate the heloc into their mortgage in 3-5 years.As a Banker I tell people every day "Do not" let a low first rate stop you from buying more properties to build more doors, which builds more passive income. 

I would love to get his thoughts on how that is going and if the headache is worth the uptick in income. 

I also have W-2 income. 

However, the nights they cancelled have already been completely filled by other guests, so I didn't really lose the opportunity to generate income. 

In our experience in Denver and Colorado Springs with midterms, it take 12-18 months for the extra income from it being an MTR to pay for the furnishings.

My wife and I wanted a rental property for passive investment income to try to get ahead in life.