We then subtract our actual expenses, which include management fees, bank fees, appraisal costs, insurance, commissions, marketing costs, taxes, and legal and accounting fees.

Flat, single story, no sunken rooms.

We fixed the foundation and the flat roof issues with pooling water, and rents didn't meet the mortgage just yet.In 2023, we finally started to cash flow.

It is very time consuming to get permit approvals and you may be in a position where you need to extend, pay fees, etc.. when your loan is past due.   

You can not depend on syndicators these days to underwrite correctly since they seem to be more focused on growing large mailing list and collecting huge upfront fees for closing deals.

For me just too much work.. as I stated its a specialty niche.. plus putting the deals together can run 100 to 250k in consultant fees up front. 

He's created an army of loyal bots that do his bidding and he's probably made $60 million or more just in membership fees.

We then lease the property on a 3-year lease with the option to buy and the tenant buyer gives us a $4000 option fee to buy the property for $260,000 within the next 3 years.

You can expect that you will be required to build roads, sidewalks, storm water control, utility taps, street lights, street trees as well as recreation fees as part of the development process. 

Assign a contract: This is where you get a property under contract and you "fee" that you collect at closing is for giving the end buyer the rights to execute on the contract.