Challenges?

Lending was another challenge, lending restrictions were starting to tighten up, and we had to get a bit creative with our lenders to get the financing we needed to close.

Quote from @James Wise: Quote from @Timothy Franklin: Hey all, I'm new to wholesaling and my first deal is proving challenging, I'm looking for advice or potentially a j/v on dispo.

This is true, but can increase your chances of success by working with an experienced team.Financing Challenges: Unexpected rate hikes or tightening lending restrictions can complicate your plans. 

Many investors have had to get creative by emphasizing other property perks, like pools, proximity to local attractions, or unique experiences, to offset any beach access challenges. 

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

They also hide their markups3) Biggest challenge with owners & maintenance, is owners think everything "takes only 5 minutes".

I would also suggest going the section 8 route on a few of the units in what I would consider more challenging neighborhoods.On maintenance bids being high, negotiate everything.

It’s not always easy, but each challenge has taught me something new.

There's no one size fits all of course, but generally the STR/MTR/LTR mix in a multi-family unit can be challenging because the way renters utilize these properties is so different.