i found in my build projects that started just before and continued through the pandemic prices rose. everything but lumber became sticky IE they rose but did not fall..

Adding the current mortgage and utilities would be roughly $1,350 resulting in a profit of $650/mo.

The “work around” in those states requiring licensure is usually to utilize an incensed mortgage broker in that state as originator/broker while you’re the lender.

MAREI meets next week - we have a new meeting place starting on the 12th at the Double Tree. 

Start with BiggerPockets Ultimate Beginners Guide (free).

But the answer for everyone may differ.Here are the personal attributes I see in those able to achieve a higher than market ROI, enough higher to be able to “scale”.1- Knowledge of real estate principles, real estate law and real estate finance2- Minimum 3 -5 years full time, or near full time experience directly related to real estate investing3- Ability to utilize technology for increased efficiency, capacity, and accuracy4- Excellent hired legal counsel and excellent hired marketing help5- Established method(s) of obtaining consistently high QUALITY deal flow6- Ability to manage and choose people who are NOT employees: Attorneys, Appraisers, Mortgage Brokers, Real Estate Brokers, Title Companies, Surveyors, Marketing Specialists, Accountants, Contractors, Consultants, Property Managers7- A VERIFIABLE track record of success8- Ability to identify, analyze, and negotiate a deal that can be “worked” for “enhanced” ROI9- Some type of competitive advantage; for example for me it’s my ability to analyze and identify mortgage loans that are actually less risky than all other lenders believe (on the investing in debt side), and on the real property side it’s my ability to analyze”pull the trigger” with LESS information than other investors need,  combined with the ability to pay cash, or raise significant capital almost instantly as well as being able to obtain loans at the lowest prime customer bank rate with no recourse or personal liability.  

Hey George, congratulations on starting your real estate journey! 

LP's are starting to get really ticked off about it and if I was one I would as well.

Start with the list criteria that will put you in front of likely sellers.

Quote from @Brandon Blackmon: These prices will come when you get GCs (licensed, subs, and unlicensed) into the property and start to get quotes.