And when something is confusing or overwhelming, it is our natural tendency to turn away from it. 6) BUSINESS SETUP - separate bank account, decide on LLC/personal name/trust, and also acquire some good software for deal analysis in your area7) ANALYZE DEALS - as opportunities come in, analyze them.

Hi All! I've been doing lots of reading/researching/listening and am finally about to pull the trigger on my first property! It will be a buy and hold using the BRRRR strategy. Either I'm running the numbers wrong, or...

I joined a mastermind group to further my commitment and start analyzing leads.

I'm intrigued by short-term vacation rentals and have been struggling when analyzing deals to know how to determine the net profits for properties along the panhandle of Florida. 

Eviction, bankruptcy, or felony being the most popular reasons. 

If you were not properly analyzing deals at the time and would not have cash-flowed if you had purchased one, there were likely plenty of opportunities for him to sell you a crap deal, right?

RegardIess, I strongly endorse his service of analyzing properties before you buy them even if you use a separate realtor.   

While Vacancy will be fairly steady based on the state/area you're looking in and Property Mgmt. will be fairly standard as well, you can and should modify your allocations for Repair/Maintenance as well as CapEx based on the age and condition of the property you're analyzing. 

We are not a young couple able to house hack (read 2.5 kids, 2 dogs, 20+ years of married family living) but we do have experience in rehabbing, know our area (one of us used to be a real estate agent turned software engineer loves analyzing a deal), and have a bit of cash reserves (not enough to not require financing).

I've worked with and hosted many of the popular meet up groups throughout Orange County specifically, as I use to run a coworking space in Irvine and would open our space up as a venue for different events.