How long ago did you begin renting it out?

Hi Joseph, I own 3 SFR long term investment properties, and have gutted 2 down to the studs and rehabbed.Then I help out a handful of investors in various ways.

The appliances are also all brand new installed this year- fridge, dishwasher, and washer/dryer.

What else am I not thinking of, or what watch outs would you give me?

I’m wondering if anyone here has had success with this model and could share some strategies that worked for them?

However, my research indicates that these areas have had issues with crime and might be considered rough.Despite this, I understand that these neighborhoods are undergoing significant reconstruction and gentrification projects.

Joint Ventured with a few partners to get this done.

My realtor suggested offering it amortized over 30 years with a 15 year balloon, as that what she sees her other investors doing: focus on the cash flow, then when the 15 years is up, do a cash out refi, exchange, or sell to move into something bigger or better.

The husband would like to stay and get a roommate.My question for you is would this give us grounds to discontinue their lease if they need to move in another person to be able to afford it?

Imagine making millions of dollars throughout your career and then having to pay Uncle Sam 30-50% every year instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of the best ways to end up with a much larger net worth at the end of your career.