Just to be crystal clear with everyone:I bought my house in July of 2016 for $350K, the mortgage was $315K.I started this strategy in May of 2018.December of 2021 my balance is $190K.I'm building equity very quickly and I have not touched my savings, stock investments, sold properties, received a lump sum from the lottery or inheritance or anything.

However, if single-family homes prove financially viable, I’m happy to continue building in that niche.Since these homes and projects are significantly cheaper than my market, the risk is relatively lower for me and can do at least two at a time.The ChallengeOne of the biggest hurdles is finding reliable contractors and subcontractors in the area.

So right now our main goal is the cash flow because in the end that is the way we will be able to move up in the real estate industry. 

It isn't like this a condominium where assessments are paying for common parts of the building like the roof, etc.Prior to this, I didn't have much experience serving on an HOA board and have therefore relied on the management company for their opinion on certain decisions. 

County has assessed for 200k but would be worth more due to the area they are building homes left and right on that road and they are selling 300k+ and up.

We've been continuously improving it, but it has been working exceptionally well for us since we hired a developer for the complete build-out a year ago.

Let's connect.This is a new one so still building, but I've had meetups and they are really good to learn and network.

Buy a lot and build a house for sale in 2026.

Are you saying that because of this unit, the building might not be able to be refinanced?

It’s inspiring that you’re both already running your own businesses—it sounds like you have a great foundation to build on!