@Carrie Giordano,Thanks! 

(What I'd probably do is calculate carrying costs over that time period and lower my offer by that amount).I'm a newbie too getting ready to purchase my 2nd revenue producing property in my first year. 

What are your carrying costs while the property is being renovated? 

Land investing is generally a smaller part of the portfolio.The reason is you are not depreciating the land for taxes and have intensive carrying costs ( money going out but nothing going in ) until you sell off the site or develop it yourself.A commercial piece of land could sell in 1 year or 10 years.

;-)Nice write-up, Engelo, though I never fancied you as the shy type.haha Roy,Walkabout Creek lolPublic speaking was a ear that I carried for quite a while.I still freak out a bit before I speak in public lollolThanks and have a great day.

I could of finished this a lot sooner and got a lot more rent and cut down on carrying cost to increase my ROI.

Welcome to the site @Carrie Herrmann Bigger Pockets is the most innovative and educational site available to learn about real estate investing.Wishing you the best!

Still carry the umbrella insurance.

Hello All,i just purchased a couple of vacant parcels in California that i plan to build within 3 years.The plan is to build 2 homes and sell one.These are the only properties i have in the US, however i own substantial assets in Europe.I carry the title in my name and have contracted a 1 million $ general liability insurance coverage for each lots for now. 

I've read a few articles on Bigger pockets about Owner carry, and have become quite intrigued on the topic.