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!! 

Also what does the city say is the assessed value of the property on your taxes (it will be different than the appraised value, but should give you an idea).

My property tax base on my primary is somewhat reasonable but the total property tax goes up because of all the special assessments, some of which make no sense to me (and I didn't vote for those).

Post insolvency, the framework allows an assessment to all private insurers operating in the state to cover the difference which will subsequently pass the costs along to policy holders.

Learn about the Net Operating Income (NOI) and Capitalization Rate (Cap Rate)—these are essential to analyzing the potential profitability of a property.Return on Investment (ROI): There are different ways to calculate ROI in real estate, such as looking at your total return after a sale or assessing your rental income versus initial investment.

Have you passed the tax assessment yet, or is this your first year of owning it?

I have not started, completed or participated in a syndication so tough to assess an ROI at this time.

@David YoungTo turn your paid-off home into a successful investment property, start by formalizing a lease agreement, assessing necessary renovations to maximize rental appeal, and calculating your cash flow after expenses.

You must exclude the land value, typically allocated based on property tax assessments or an appraisal, as land is non-depreciable.

Condos are less expensive to buy, but you have condo fees and special assessments and condo rules.