All Forum Posts by: Devin James

2019 Goals: My last year in College
- $10K in savings (Not Accomplished)
- All A's (Not Accomplished)
- Church every Sunday (Not Accomplished)
- Read Bible every morning (Not Accomplished)
- Read 20 minutes every day (Accomplished)
- Go to Chilis 11 times only (Accomplished. Imagine how many times my wife and I went to Chilis in 2018 to make this a goal in 2019)

I love looking back at our goals and seeing how much we've grown over the years.

We started this in 2019 and plan to continue forever so we can look back and see our growth.

Where was your go-to date night when you were 19?

 So good. There will always be a bigger fish. Its easy to get stuck in the needing more mindset.

I used to say/think “All I need is 1 property and I will be set.”

Once I reached that goal, the drive for the next one felt just as strong.

Reminder to enjoy the journey and that it’s not about the destination.

Every goal you reach, you will enjoy it for a short time, then be on to the next one.

How do you balance striving to do better and for more while understanding that it will never be enough?

I don’t disagree with you at all

My perspective is shaped by what I know best: Housing. That’s why my original post focuses on what can be done within that space to address affordability. I’ll leave the higher-paying job solutions to the experts in that field, but I do believe both sides are important to address the larger issue.

I appreciate your insight!

In 2021, we saw buyers upgrading to larger homes, taking advantage of 3% interest rates to afford an extra 300+ square feet.

Today, smaller homes are selling much faster as higher rates make additional square footage less affordable.

While rates are historically average, I don’t see them dropping significantly. Combine that with America’s housing shortage, and the solution becomes clear:

We need to build more homes that align with what buyers can afford. That is smaller units built with higher density to make the numbers work for both buyers and builders.

Adapting to these challenges isn’t easy, but it’s necessary to keep up with the market.

What are your thoughts on how builders and developers can address affordability and supply issues.

 Thank you Todd!

Great experience for sure

Thanks Dominic!

I try to provide the raw truth. Home runs are far and few between.

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!!

Hey Lenny,

Love to see that you also got the Real Estate bug so young

I recommend a BRRRR/house-hack for your first one

Buy a place that you can live in with a low downpayment, fix it up, and then you will have the option to 

1) Refinance and live in it

2) Refinance and rent it out

3) Sell and do it over again

4) Dont refinance and continue to live in it

5) Dont refinance and rent it out

You will have a ton of flexibility and the safety of knowing you have a place to live

Please reach out via DM if you have any questions moving forward. Love to help fellow youngins getting after it.

"appreciation will put more dollars in your pocket over the long run"

100%, this is why I focus on appreciation

My first deal taught me the power of sweat equity and appreciation. It would take me a lifetime to make as much in cashflow as I did in equity growth.