😊 Goals give us two things: direction on where we want to go, and the motivation to get us there.Imagine your ideal existence.

If you’re working on a time-sensitive flip or renovation, hard money could be ideal.

.🔹 Ideal in Any Market – Whether home prices are rising or falling, lease options allow you to lock in today’s price while benefiting from future appreciation.Other creative strategies—like seller financing, subject-to deals, and the BRRRR method—can also open doors, but lease options remain one of the most powerful, low-risk, minimal cash out-of-pocket ways to build a portfolio.

We're considering knocking down the carport and/or putting in another ADU, ideally a 2/1, to bring our comps to 6/3.Has anyone investigated or done this recently, and have advice on the subject?  

With no major renovations needed, it was an ideal candidate for a quick resale.

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

Ideally, I would like to use the buy and hold strategy, with a 50k budget to get started.  

We do a lot of the work ourselves and so within 2 hours of Needham is ideal. 

Remember your situation is unique so it's important to consult with a tax advisor or CPA to explore all available options and ensure compliance with tax regulations.Thanks!

Quote from @Tove Fox: I live in California and am interested in purchasing my first investment property in an A or B neighborhood in one of the above states, ideally under $300k.