The property was finally sold to a developer who built a 3-story structure housing 6 condos that sold for half a million each.Getting variances is quite time consuming in our area and I attended quite a few community board meetings which one has to attend before going to a zoning board meeting.

We keep hearing stories of people building large portfolios in a very short amount of time, and kept wondering what we were missing. 

Hey Charlie, great to hear your story!

Purchase price: $100,000 Cash invested: $300,000 This is a two story 8 unit apartment building that the previous owner walked away from.

Too many good reasons to list here.I posted my story as to see who has invested with REM and let folks know what is going on if they are looking to invest..

I would throw caution at giving credibility to news stories about rates driving people out of Florida or increased natural disasters impacting rates.

One more tip – people remember stories that trigger their emotions.

They do have some options for building up (see three story image below) but we created an apartment that consists of studios units, in the standard 16x74 foot modular home rectangle.

Hearing stories from others who were in similar situations was also a big motivator for me.

I always hear all the stories of people scaling fast.