Performing actions that are not a net positive are a gamble or gift.

I was thrilled. 

I like to gamble and like big profits, so I spend most of my time going after hoarder houses and abandoned properties.

Don't get me wrong; there are plenty of issues/problems/quirks that old houses have that new houses don't, and an old house can obviously have hidden problems and big repair/maintenance bills too--which is why thorough due diligence is fundamental to REI...but, the point is: a brand new house is not a foolproof solution to repairs/maintenance headaches (and in some cases, a brand new house can be a much bigger gamble than an older house).This is a particularly important lesson for inexperienced investors, who tend to be the most prone to "shiny object syndrome" (the tendency to let nice aesthetics distract from real, underlying issues).

Purchase price: $218,000 Cash invested: $6,200 Sale price: $245,000 The Thrill of Buying Real Estate What made you interested in investing in this type of deal?

It's important to have great insurance when doing things like this, and I can't imagine an insurance company would be thrilled with this sort of risk.  

I had a similar spending problem but it was going out to bars, gambling, and clothes.One day I woke up and was like hey, where do I want to be financially in “x” time frame.

Our biggest challenges are 1) tenant friendly (impossible to increase rents to keep pace with market) 2) High price per door 3) Poor rent to price ratio  If your approach is to gamble on appreciation, Metro Vancouver may be a fit, but I've found better overall returns elsewhere.

Hey guys - my first post on BP, and absolutely thrilled to be here seeing how everyone seems pretty knowledgeable about building wealth.

Banking on appreciation is gambling