We all have our worst!

I've before quoted a study that Norwest Banks did when I worked for them where they found that the job title that paid their bills the worst were clergy.

I know a lot of people are struggling right now, so I wanted to share some things I'm doing in this space that are working. STR is not dead, but it's a lot harder now. You have to be willing to do more, and to bear th...

Quick numbers check is bid like worst case until proven otherwise, ARV minus rehab minus your closing and holding costs minus any senior liens you might have to pay off, and if you cannot clearly cap your total all in cost you pass.Pull the actual foreclosure case docs and the order of sale and have a title company or local attorney run a quick title so you know exactly what gets wiped and what survives.

Re: Chicago, two are actually doing ok, but we need to raise rents a bit (we haven't in awhile), one is losing money but sadly it's the newest so sort of harder to give up on - it's been special assessments making it a big problem.

What sort of title research do you do before bidding?   

I have worked with around 11 property management companies in 4 states since 2009, and they are the worst, by far.

What sort of tools/websites can I use to find these markets?

Worst case, if the city isn't a good fit for STR or LTR... dare I say...

If the numbers only work when everything goes right, it’s not a deal.The ones worth digging into are deals that still make sense using conservative ARV ranges, worst case rehab assumptions, and realistic timelines.