I Said No to a $708,521 Real Estate Deal

Michael ChangOct 6, 20250m 6s1.6K viewsScore 80
Pricing & Profitability
intermediate
Profitability
Revenue Management
Market Research
Investors
M

Summary

AI-generated

Michael Chang explains why he walked away from a $708,521 deal with 15 turnkey STR units, despite the good location, design, and proven profitability. The deal didn't meet his required payback period, which would have locked up capital for too long and prevented him from pursuing better deals.

Key insights

  • A buy box helps protect against mediocre returns.

Mistakes to avoid

  • Don't get emotional about "turnkey" units or other attractive features if the numbers don't meet your required thresholds.

Tools & resources

  • STR Deal Evaluation Guidecourse

    STR deal evaluation guide to evaluate the numbers on deals.

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial