Was their UBIT/UDFI involved?

Nice job with the project. 70k budget is really good considering exterior work was involved.

Negotiation involved a thorough analysis of the property’s potential and local comps, allowing us to secure it at a price that would ensure profitability after renovation.

I would involve your insurance company.

Call it a partial or hypothecating or both but that’s another concern.Lastly does each person involved in the trade understand all these surrounding facts?

After speaking to a real estate investor recently, I got to find out that one of the most important things for wholesaling (if not the most important) is networking, that goes from buyers to listing agents and everyone involved in the sale and purchase of a property.

As RE agent could facilitate deal without third party involvement Lessons learned?

Per this NY Times article, the average American knows around 600 people.https://www.nytimes.com/2013/02/19/science/the-average-american-knows-how-many-people.html#:~:text=The%20average%20American%20knows%20about,do%20you%20know%20named%20Kevin%3FPer the US Census Bureau, the average American moves 11.7 time in their life, which based upon an approximate lifespan of 84 years, works out to be about every 7 years.https://www.census.gov/topics/population/migration/guidance/calculating-migration-expectancy.html#:~:text=Using%202007%20ACS%20data%2C%20it,one%20move%20per%20single%20yearSo, if the average American knows 600 people and they each move about every 7 years, that means that the average American knows around 85 people that move in any given year.How many of those moves do you want to be involved in?

For properties like these, the condition and price often don’t warrant upfront financial vetting, and too many barriers can add friction to the process.When it comes to lead times, I agree they’re essential for occupied homes—if tenants are involved, a 12-24 hour heads-up allows everyone to prepare.

If your property management involves Appfolio, Stessa is probably one of the only platforms that integrates well.I’m not too concerned about double-entry accounting systems, so Stessa’s simplicity is actually a plus.