Update - Everything Went Wrong

[Devin James]

Everything went wrong with this investment:

   - Took 4 months longer than expected

   - Cost $10K more to build than we anticipated

   - Sold for $20K less than we anticipated

We still profited with a 30% return on equity

This is why I love Real Estate Investing

When you do your diligence and stay conservative with your numbers, it takes something really bad to lose money.

Here was the original post:

My siblings and I are building a home in North Port, FL.

Here are the numbers:
- Finished Home Value: $412Kish
- Land Cost: $19,750.39
- Construction & Permitting Costs: $304,897

Additional costs:
- Environmental Site Assessment
- General Liability Insurance
- Builders Risk Insurance
- Construction Financing

We will be listing the home this week

Photos coming soon!!

[Dominic Mazzarella]

Quote from @Devin James:

Everything went wrong with this investment:

   - Took 4 months longer than expected

   - Cost $10K more to build than we anticipated

   - Sold for $20K less than we anticipated

We still profited with a 30% return on equity

This is why I love Real Estate Investing

When you do your diligence and stay conservative with your numbers, it takes something really bad to lose money.

Here was the original post:

My siblings and I are building a home in North Port, FL.

Here are the numbers:
- Finished Home Value: $412Kish
- Land Cost: $19,750.39
- Construction & Permitting Costs: $304,897

Additional costs:
- Environmental Site Assessment
- General Liability Insurance
- Builders Risk Insurance
- Construction Financing

We will be listing the home this week

Photos coming soon!!

 Haha yeah this is what real estate deals usually look like for me, but awesome that you came out ahead! And your central point I think, is to use conservative numbers so the deal still makes sense even in the worst case scenario. Good stuff!

Oh and I’ve got a good bit of family in North Port. Small world.