Investment Info:

Single-family residence fix & flip investment.

Purchase price: $58,500

Cash invested: $55,000

Sale price: $155,000

Contributors:
Peter Vekselman

Partner Drive...

Focusing on what you can control, like consistent effort, really sets the foundation for success.

But by building a successful short term rental business on someone else’s property aren’t you giving away the increase in value of the property resulting from your efforts to the property owner?  

Our combined efforts made the property appealing to buyers, leading to a successful sale at $99,000.

First of all, let me pay my respects to the hardworking people in real estate and the treacherous waters they navigate—fronting hours of effort with only the chance of commissions and an abundance of non-forthright people out there.

I'm an experienced project manager with hundreds of cradle-to-grave efforts under my belt, including building project scopes and budgets, evaluating contract proposals, and managing construction to maintain the delivery of high quality products on-time and in budget.Penny is a licensed clinical social worker (LCSW), serving the community mental health needs of parents, children and families.We both recognize we have an immense opportunity to serve our community and want to capitalize on the blessings we have been provided so that we can continue serving our neighbors.My wife, Penny, and I are looking to transition into commercial multi-family real estate in 2025.

Quote from @Zach Howard: Quote from @Jonathan Greene: If you are looking at properties in the US only on Zillow, and not seeing them in person (I know you are in Hong Kong), this is just an effort in futility because you can't underwrite single-family or small multifamily deals only online.

The risk and effort is too great.  

Those couple hours of research will save you hundreds of hours of time down the line, so it's well worth the effort.

However, if that effort fails, the local agent is equally liable – criminally and civilly – for any fees, fines, etc. associated with the property."