Detailed Business Plan
Rent furniture to furnish the 3 bedrooms to test market and conserve cash flow – also able to write off dollar for dollar instead of depreciateing over a period of years. (insert rental calculations vs buy)
Continue to monitor competition for similiar properties – adjusting the rental rates as needed.
Stay in a competitors room to get an idea of what they are like.
Downstairs could be used as an office for further tax deductions.
Property has huge back yard that could be used to build another structure – check zoning.
Property was bought for 18K in 2014.
Property is within walking distance to St. Mary’s hospital and a short Uber ride to downtown and Marshall.
Property is in a nice neighborhood, low crime… unlike the competition.
I’m familiar with the area… it’s a “rough” crime infested part of town… but reviews are very good.
On a corner lot, church across the street.
May need painted…
Insert financials later….
