You're already making a great profit, I would gamble and take the percentage instead of the $20k.

We may even develop ourselves into mix use building if I am adventurous enough in the future.What would your offer, knowing that only 1/3 is build-able now?

Now that I see people are actually reading it, I will try to get around to writing about the rest of my real estate adventures!

So you are taking pretty big gamble with this.

So you choose to gamble on losing $2k by "chancing it" as opposed to spending $200 times 10 homes or so?

In a couple years it may pan out so I'd say its a bit of a gamble, I don't think the area will deteriorate/depreciate so you're safe in that regard.

@Keaton, if you're a little more adventurous and since you're going to live in one side, take a look at Pittsburgh.

Yep, I'm aware it's a gamble (as a bead of sweat drips down my forehead) but I do have some reserves, I'm still doing a little consulting for my old company, and I have a very supportive gf (who btw is from Chicago).

Real estate is gambling.

Hi @Bob Chuckman, either way you go will work out fine, can depend on your purpose of the loan, primary residence, investment property, multi family ect. use local banks with few branches, check around to each one for loan options for investment properties, while standard mortgages are sometimes tricky to get approved, there are, bridge loans, commercial loans, portfolio loans, ect. i am not sure 100% on all the types that may be available but i would spend some time talking to different banks in your area especially the lending dept. i focus on FSBO homes/multi with seller/owner financing but i wish you luck in your REI adventures,Jay,