Germain, part of having a great cleaner, and great reviews as a result, is taking great care of your cleaner, which in addition to paying them well and quickly means also setting them up for success.

I invest in a syndication and receive a K-1 showing a 100k lossQuestion:  What additional steps would I need to take for me to be able to use my 100k loss from my K1 and use it to reduce my active household income?

(If you're outside Milwaukee, feel free to chime in too - just wondering if there are unique needs in our area, but general feedback welcome too.)Thanks in advance for any insight!

I like the idea of fix and flip for additional capital but I’m a rookie and not sure if it is too much of a risk for my first investment to be a flip.Aside from wanting to get in to San Diego, my priority is to get in the game and set myself up to be able to grow my portfolio.Any feedback or advice would be much appreciated!! 

Always best practice to be listed as additional insured as the property owner as well. 

Thank yall so much for the insight!!

If anyone has insights into upcoming developments or timelines your input would be invaluable to me.Thank you in advance for your guidance and sharing any information you might have!

If the garage is not built to support the weight of additional floors or is not adequately reinforced, it may not be suitable for conversion.Insulation: Another important consideration is insulation.

Thank you all for the insights I’m going to borrow Jill’s words on David’s price point with Rick’s strategy on rate increases with the increases 2-3 times over the next 12 months.

Here are the projections for 2024 to give an idea of expected returns:2024 IncomeLong-term Income$8,400Gross STR Income$45,500 (based on AirDNA projections)Additional STR Income$5,915 (mostly cleaning fees)Total Projected Income$59,8152024 ExpensesSTR Expenses$16,453 (32% ratio)Mortgage$34,476Insurance$707CapEx$3,600Taxes$2,729Total Expenses$57,965Projected Cash Flow$1,850CoC Return2.79%2024 Additional ReturnsPrincipal Paydown$2,930Equity Appreciation$16,200Mortgage Interest Deduction$7,571Total$26,701Total Projected Returns$28,551Projected Return on Investment43.1%Projected Return on Equity21.4%The CoC numbers are not impressive, and the property only cash flows as an STR, which carries some risk.