Hey Andy one of the keys to profitability as a landlord is quick turn over. if you where renting your unit out for $2,000 a month and waited 3 months to get someone in.

It also puts your agent and lender in a tough spot where it could be a perceived "fraud for profit" and they could lose their license and face time/penalties if they knowingly cooperate.

My real estate journey began in 2010 with a three-family property that I lived in, renovated, and eventually turned into a profitable rental before selling it via a 1031 exchange to purchase a short-term rental.My current goal is to acquire my first multifamily property using private lending by Q1 2025 and grow my portfolio using the BRRR strategy.A question for the community: What’s been your most effective way to connect with private lenders for small multifamily properties?

Would I pay for all the remodel expenses and then 50/50 split of profits or does contractor pay remodel cost?

I use the "profit first" approach to cash management and am VERY happy with what it has done for me. https://a.co/d/h16sPxR

Every time I hear of someone quitting their job to pursue their dream or just have freedom, it's a wonderful thing.

Ok so this would be profitable for a potential investor if you seller financed.

I have found a few deals on the market lately for some clients that flip, the numbers still gave the flipper a profit and the rehab time was 5 weeks.

Super great reply might I add, I didn’t pursue this strategy myself because I did not want to be in the middle of any potential roommate drama!

Once I build some profit I plan on putting a structure down.