I rented my first property!

What market did you buy this property? 

Hey everyone,I’m exploring different strategies for raising capital for commercial properties, specifically distressed office buildings that we aim to recycle in California.

We are buying SFR for around 50k per property and renting for around 1k.

However, if you do evaluate a property as an STR, run the numbers as if it were a MTR.

In highly touristy areas like lakes or vacation spots, an STR typically generates higher income from short stays but may not attract long-term tenants due to seasonal demand.However, if the property is in a more versatile location, such as near schools, businesses, or urban centers, it may work as an LTR, providing steady income and fewer management demands. 

Any good property management companies that are full serviced that the forum suggests?

This loan will qualify the property itself, without the need of all your personal documents (as mentioned above).

The person I sold it to made $40k weeks later doing nothing to the property but listing it on the MLS.All because he had more leverage.He knew I was in a tight situation financially and took advantage of me.He turned me into a motivated seller.

For R&M it'll depend on the type of property, but I think 5-7% is probably a decent number.