This is when your property gets the most attention, especially if inventory is low in your area.

If you buy rental properties without being interested in being an owner you will hate it!

Real estate is a long term game.

Hey everyone —I’ve been quietly investing and reading BP for years, but finally decided it’s time to give back and be more active here.I’m Micah — a Chicago-based investor who started with zero experience, saved up working a W-2, and bought my first multifamily in Logan Square in 2024 Fast forward to today, and I’ve built a 7-unit portfolio, founded a real estate coaching business, and helped close over $175M in larger commercial deals through my work in acquisitions.I work mostly with first-timeinvestors in their 20s and 30s who want to buy their first rental but are overwhelmed with where to start.

That lead me to rich dad poor dad and my love for real estate just grew.

I listened to a bigger pockets real estate podcast show about doing assisted living strategies where they rent out to elderly who need 24/7 care .

Suppose you have the property, you could do an arbitrage split model with a person looking to arbitrage and split the profits.

Hiring a professional contractor could be beneficial to navigate these requirements and ensure the conversion is done correctly.Once the conversion is complete, make sure to update your property’s records with the local authorities to reflect the changes, which can be crucial when selling the house.

If an investment property is cashflow positive the way we do our math, we can add that positive net number as income, and otherwise exclude the PITI of that property entirely.

I recently sold the property!