@Mike Reynolds What terms did the bank lock you in on your first park.

I would save up more before pulling the trigger or find someone who you can lean on in case things go south.

Luckily we did did not engage in builder contracts and have them locked in a price.

Don’t lock in on multifamily at this stage, you still have some learnings ahead and it is more important to take a first step.

After so much sacrifice of building credit, getting out of debt and saving money i finally pulled the trigger.

There's plenty of us out there that are a fast turn around in this market.  30 day locks are usually met in most cases unless something unknown comes up in underwriting. 

With a condo you are locked in to whatever the going rate is in your building and it's hard to overcome that. 85% of the units on SPI are condos, so they tend to blend in as people are scrolling through the Airbnb results. 

And it's going to get much worse if they succeed in dramatically lowering the $20k threshold, triggering a flood of 1099-Ks.

Hello BP folks, I’m looking to pull the trigger on a new construction property in Lexington SC for my very first REI, my initial investment is about 65K which would have a COC of 6%, would like to get some feedback/guidance on whether is deal is decent and doesn’t have too much risk.

Still haven't pulled the trigger, haven't found anything that would positive cash flow, especially in Richmond, but would be interested in what you find out.