He suggests that projected rents would be $5,400.

Purchase price: $220,000 Cash invested: $70,000 Sale price: $460,000205 Hermit St is a project we wrapped and sold in early 2024.

Southern border of the land is Wilson Creek (a large, well established, full time creek with old growth trees)Approx 1 acre of non-recoverable flood zone along length of creekTwo small ponds on the property, which can be filled in to utilizeSmall neighborhood to East of property line with utilities ready and available for project Currently a couple of older homes and barn structures on property (100% liveable and well maintained)Wilmeth Rd is currently expanding down the block to a 4 lane road which connects to Highway 75 in McKinneyLarge developments are underway within a 1/2 mile to 3 miles out radius<4 miles to Costco, ChickFilA, WholeFoods, Cinemark, major hospitalAT&T Fiber and Atmos Gas at front of propertyA water well can be run, if desired, or tap into the city's water (currently on city water and has large main at front of property)A CE firm has drawn up plans for a small, 12 home, 3/4 acres development.

It checks all the boxes to be legal - 2 egresses, windows, 7' ceilings, bathroom, full kitchen, etc. 

My realtor has been great at providing numbers that show projected cash before and after living on the property.

Use those tools they will play nicely in this industry as well.If you ever want a Hard Money tutorial or tips on markets or how to identify a good project then just PM me.

My project engineer job with huge general contractors (schools, hospitals, etc.).3.

Above all, my priority is a project that stays on budget and time (easy right?

We are almost done and I flew out last weekend to take a look and hoped to sign off on the project and send the final payment.

"More projection.