Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

I have from time to time spoken with the city administrator, economic developer, & a person at building planning commission.

Here’s my perspective based on personal experience.For some context, I’ve been investing in real estate since 2019, primarily in Detroit, while living in California.

I have a couple of funding options on the table and I’d love to hear your thoughts:Funding Approach: I have capital partners who are willing to fund 100% of the project in exchange for 50% of the profits.

I'm thinking now though that it may be more appropriate to attempt that a little further on down the road once my own personal risk tolerance could accept it.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

The concern with the DSCR loan is that I need to make the property present as though it's rented to individuals during appraisal (tough since it's a working rehab facility now) and must create another lease that shows the tenant as personal and not a company.

Who is personally going to be liable if the guarantees aren't met?

Success comes from consistent action and patience, so keep refining your approach and scaling gradually.Good luck!

You can probably meet him in person if you attend the next HH.