Quote from @Devin James: Quote from @Dominic Mazzarella: Quote from @Devin James: Everything went wrong with this investment:   - Took 4 months longer than expected   - Cost $10K more to build than we anticipated   - Sold for $20K less than we anticipatedWe still profited with a 30% return on equityThis is why I love Real Estate InvestingWhen you do your diligence and stay conservative with your numbers, it takes something really bad to lose money.Here was the original post:My siblings and I are building a home in North Port, FL.Here are the numbers: - Finished Home Value: $412Kish - Land Cost: $19,750.39 - Construction & Permitting Costs: $304,897Additional costs: - Environmental Site Assessment - General Liability Insurance - Builders Risk Insurance - Construction FinancingWe will be listing the home this weekPhotos coming soon!! 

I had a heart-to-heart with the contractor and made it clear what our expectations were and no more money (he was asking for a second payment of a three payment contract) would come his way. 

Have been tracking the news on insurance which surprisingly to me- is not expected to rise in Colorado, post the LA fires.

We invested $55,000 in key renovations, focusing on modernizing the interiors, improving curb appeal, and ensuring the property met market expectations.

But if borrowing costs remain high and interest rates don't fall as many people expect, cap rates will have to decompress further. 

These investments in the area are expected to create tens of thousands of new direct and indirect jobs and further accelerate population growth and housing demand. 

I would expect to be at 90% full myself or worst case 85% since it would be in a better location. 

But ultimately the responsibility lies in my hands.I jumped on a seesaw of risk hoping that the momentum would catapult my bank account into six figures only to find out the hard way that flipping houses isn’t as easy as I had predicted.This house was purchased for $64,000 with an expected rehab of $100k to $120k depending on how much work the dilapidated and neglected house needed.The midwest is lovely but the houses carry the weight of weather storms nearly a century old leading to more damage than a beginning investor could expect.The appraisal came in at $225k for my lender meaning our all-in cost would be around 85% of the sales price worst case.

It's costly but that's what is expected.  

I would NEVER Ever use OBIE INSURANCE  --Not honest in their dealings and do not expect refunds on cancellations  I am of the opinion that they are legal scammers Just be careful