What has been your biggest lesson?

Owning a home that you can’t tangibly visit nor keep an eye on the day to day happenings adds a whole other dynamic to the investment.I think the biggest key to making long distance investments a success is having a rockstar property manager that cares about the property as if it was their own and holds a standard at or above what you as the owner would.

NorthEast and MidWest regions are losing population - New York, New Jersey, Connecticut, Illinois, and West Virginia are the biggest population drainers6.

Biggest thing with this approach is to make sure you're communicating the same scope of work to the different companies so that your bids will be apples to apples.

It is one of my biggest pet peeves when people fail to communicate or stay in touch or follow up.

Biggest need is on valuation methods/tactics, but we ultimately want to develop a playbook for new partners to plug into! 

revenue stream for REITs is generated by rents paid out to their tenants.  

I currently own 3 properties and I am quickly realizing that I don't have the proper systems in place to keep track of who owns what with regards to cash flow and revenues.

If the property is self managed, lease up/tenant turn is the biggest pain point, so you may get a more open owner when they are frustrated with responding to potential tenants, showing the apartment, etc.

Raising capital is the biggest hurdle for most people, when it comes to scaling.