Hello everyone, anyone I have spoke to about REI in my personal life all tell me the same thing: don’t get into real estateThey are all people who have had properties themselves, have tried to rent them out and have told me horror stories of tenants and how repair costs or costs to property managers make it disadvantageous to earn profit or scaleI’m trying to invest with my spouse who is also included in these conversations.

And which terms should I include in the lease to be protected as the landlord?

Lastly, review Dave Meyer’s The State of Real Estate Investing Report 2024 (in your resource page as a member of BiggerPockets!)

This includes, repainting and patching some holes. 

To find investment possibilities, consider elements including property pricing, demand for rentals, vacancy rates, and economic trends.Think About Financing choices: Investigate your choices for financing a possible real estate purchase, such as FHA loans, conventional mortgages, home equity lines of credit, or other innovative financing techniques.

Do yall include a clause in your rental contract that states that when an appliance breaks, that you will have it resolved in a certain time frame?

Here's a simplified and effective approach: Gather Information: Obtain details about the property, including its purchase price, estimated rental income, expenses (such as property taxes, insurance, maintenance costs, and property management fees), vacancy rate, and any financing terms (e.g., interest rate, down payment, loan term).Calculate Gross Rental Income: Determine the total potential rental income the property could generate annually.

I sent a property owner his financial report and I included my payout from airbnb in his numbers, mainly for him to see that we're not cheating him and he's getting his monies worth. 

In some areas, the city would require professional reports on geology, water run off, traffic and street improvements. 

She also issued a multi-page memo when form 3115 (repairs vs capital expenditures) came into effect explaining the ramifications to real estate investors, and whether and how they should file the form (All this was included because you were her client, and she files the form for you.)