We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.

I simply shared my experience and stated the facts.

I am wondering if anyone here has experience starting a REIT? 

These properties have deferred maintenance of $200k–$400k each, and you have no prior experience managing real estate.

This deal had everything we love: a full BRRRR (Buy, Rehab, Rent, Refinance, Repeat) with big value-add potential, beautiful waterfront locations, and the opportunity to create high performing short-term rentals at a reasonable cost.AcquisitionWe acquired all three lakefront properties as a package for a total purchase price of $1,600,000, utilizing hard money financing.

Does anyone have experience in this niche?

Your experience.

What I need is mentoring to hone and build upon existing skills and experience to make progress.

On finding help, I’d  keep an eye out for the CPAs active in Biggerpockets with proven real estate experience, or search for phrases like “short-term rental CPA,” “Airbnb tax CPA,” or “real estate investor CPA”and then filter by folks who talk specifically about STR material participation and cost seg in their content. 

Neals learning experience.