This generated $2M+ in equity, and thus is highly lucrative, but takes 2-3 years.Note worthy: I am located in California, but I did this project in Canada.

I was talking to a RE friend.He said it's a bad time to buy* rates are high* homes are expensive in most marketsLooking to hear some counterpoints. 

These areas tend to attract high-quality tenants and provide consistent passive income, which is a great foundation for building your portfolio.If you’d like, I’d be happy to share some insights about these types of markets and why they’re appealing to investors.

Crime and homelessness in the areas where you could get more cash flow is still pretty high - which is a bummer.

The accuracy is surprisingly high and a bit saddening.

One property the square footage was high because they assumed both florrs were same size and they were not. 

Interest rates atm seem quite high so will ride this out a bit longer (and ratios will continue to improve over time.) 

Current prediction is rates will land in the high 4s in 2 to 3 years.

I thought I was buying at top of the market in 2020...and 2022...but prices continue to remain high. 

Hello Mike, It is nearly impossible to answer this question without taking a deep dive on the numbers of each but often times in expensive markets like Seattle the cost of construction is so high that it doesn't make sense to tear it down unless you can build something way bigger/nicer.