Each passive investor invests a minimum of $50,000 until they have enough to cover the down payment, as well as the cost of the renovations.Once the deal closes, Jane works closely with the property management team to improve the property and get the renovations done on budget and on schedule.During this time, Jane and John send out monthly updates, as well as monthly cash flow distribution checks, to their passive investors.When the renovations are complete, Jane and John determine that it’s a good time to sell and the property goes for $15 million after just 3 years.

I added value by installing HVAC units and updating the furnace systems.

At first, I was updating property information in the software they used (Rent Manager).

Should I update all their leases to incorporate language for COVID-19? 

My thought is to put together a database of big ticket items (roof, siding, water heater, appliances, etc) that I will update with prices every year or so. 

This most recent time she said she’d pay me by 09/28 (idk why that late she never provides good info or updates) regardless as of September 10th she will be in default I have a second lien, promissory note and joint venture agreement.

As many landlords are aware, following Covid, there has been an uptick in "catch up" travel as lockdown restrictions ease. Among other effects, this has led to an increase in RE investors in some markets looking to re...

Getting all of your money back out on this market is not realistic, at least in our market.You should expect to leave 5-20% in the deal.However… you end up with less than 25% down, a fully refurbished unit, and a top of the line product for tenants.This strategy allows you to control your two most variable cost, maintenance, and CapEx.Personally my focus on a BRRR is beat the down payment market by 5-15% and have a fully updated unit I won’t have any work to do on for 5-7 years.All the people that want to turn 40K over and over and over and finance rehabs are going to spend a lot of time looking and not a lot of time doing.

Keep us all updated and keep reading ALL the books!

Judge rules in their favor and tells me to update their leases.