Purchase price: $180,000 Sale price: $209,900 Contributors: Peter Vekselman Partner Driven and Traci Stephens purchased this Watertown, SD property on 12/06/2024 for $180,000 and sold it the same day for $209,900.

Purchase price: $28,000 Cash invested: $47,000 Sale price: $110,000 Contributors: Peter Vekselman Partner Driven, alongside our partner Billy Medlen, acquired a home on Raymond St, Richland, MO, for $28,000 on 02/20/2024.

I generally rule out most single family homes as viable rentals, as prices are pretty high relative to rents, so aside from some downtown neighborhoods, typically you do not find large areas of single family rental neighborhoods (a median sale price on a 3 bed, 2 bath home so far this year in Dane County on MLS sales data is at $430k). 

I learned about the power of leverage with real estate investments and now make 16k/month net after all expenses off rentals by doing a cash out refi on my primary residence to get me in the game.

In fact I have one listed for sale in that area right now.  

, sales people in general - always stretch the truth!

These states impose a state tax on any realized gains from the sale of investment properties.

Jorge, that first sale feeling really is something special, isn’t it?

I also only make about 40k a year currently which doesn’t give me much buying power. 

If you’d been holding around $620K from a 2019 sale and directed it toward a few properties like that.. especially if you leveraged financing.. you might’ve grown your portfolio’s total value well beyond what many Los Angeles holdings would have delivered over the same period.Then again, L.A. still has that unique mix of robust demand and limited supply.. from what I’ve heard, you can see impressive long-term gains there if you’re comfortble navigating tenant protections.