in a stick frame market and one of the cheapest markets to build we build with margin at $190 or so a square foot. that will go up over time about 5% or 10% a year to keep up with new build price increases. we are buidling a 3 story walk up and source some of the lowest priced crews.

Upon BP member recommendations, my husband got his real estate license which now helps increase our access and decrease our transaction costs.

I think the story across a lot of the upstate is similar, net exodus from 2000-2020, followed by a surprising increase in prices and population growth following the pandemic as people (and companies) searched for affordability. 

Keep in mind studies have been made to where rent control actually lowers vacancies and increases rents.

On a good month I net $71 a month (previously $176 a month before 17% increase in property tax).  

People weren't renting properties as quickly, and there was an increase in vacancy.

Note that RedFin shows Y/Y January 2025 price declines of 9.71% for all housing but increases of 2.8% in single-family homes.

This increased this cost at closing.Additional closing costs fees - $3,737.88I share this to let beginners know that you need more than the down payment to close.

If your goal is financial independence, then there are more requirements.Your rental income must increase faster than inflation.

My motivation is to increase my financial literacy and diversify into real estate.I have rented all my life and seek to become a homeowner/ investor to help my family and make their lives easier.