Quote from @Devin James: Quote from @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 anticipatedWe still profited with a 30% return on equityThis is why I love Real Estate InvestingWhen 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: $304,897Additional costs: - Environmental Site Assessment - General Liability Insurance - Builders Risk Insurance - Construction FinancingWe will be listing the home this weekPhotos coming soon!! 

If you are not building in sufficient capex, then these costs could be higher, if not much higher.

THE VISION: With 130 units and 8 buildings plus a wedding and event venue, our vision includes revamping this space into a dream hotel.

I'm also looking to build a network and connect. 

I'm building my systems.

That 36% rent increase while keeping happy tenants shows how smart and intentional you are about building relationships, not just cash flow. 

It sounds like you’ve got an exciting plan mapped out, and I love that you’re thinking of starting a property management business while building your own portfolio—that’s a smart move.

I’ve worked with several first-time investors, including out-of-state buyers like yourself, and it’s 100% possible to build a successful short-term rental (STR) business even when you’re managing remotely.

Assessments in NJ are not done on sale, unless it's a new build or a complete renovation where the permits tip them to reassess, so every three years or so they reassess all of the properties and taxes go up most of the time.

All my properties are true multi-family, More than 5 units per building.