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!! 

Building a solid team is another crucial factor.

I’m drawn to the endless opportunities the Texas market offers and am committed to building my knowledge and skills to make smart, strategic investments.Right now, I’m focused on understanding the basics—everything from evaluating properties and navigating financing to learning about the unique aspects of the Texas real estate market.

I'm building my systems.

Hello Mike, Syracuse and surrounding area is benefitting from an influx of tech companies and a huge chip manufacturing company, Micron, which is building a $100 billion fab over the next 20 years. 

A close friend of mine in Houston once had a client who owned two properties across different states.With your North Port place being so fresh (2021 build) and on a canal, you’ve got strong appeal for folks looking to enjoy that waterfront Florida vibe.

Buy at a discount given the lack of building potential and can always pass that discount along when I sell.2.

We're in the process of building a small cabin and Minoan has been landing in my email a lot lately. 

I have used owner finance and hard money mostly to build my portfolio but need some institutional refi in the future.I'm also thinking about how this affects taxes, insurance.Thanks in advance for sharing your opinions!

Wealth Building: Paying off the first STR focuses on cash flow and financial security, while buying another property focuses on scaling and wealth building.