Purchase price: $49,000 Cash invested: $3,000 We purchased 5 acres with no deed restrictions or HOA and continue to build out rentals/lots on the property.

A lot of investors prefer to use OPM (Other Peoples Money) even if they have the capital to purchase it all cash.

And I am not sure if that's because luxury property rentals just don't have the same ADR here in comparison to other markets - in a lot of other markets even as far as West Virginia in harpers ferry you can easily charge $800+ in those markets, whereas inWe haven't purchased the area in Airdna or Pricelabs as we are just looking at the data at a high level right now before we commit to that one area since we are looking at a couple of other properties too.

1.Subscribe to the BiggerPockets Money and Rookie Podcasts2.Attend the FREE WEBINARS3.Attend a Meetup in Your Area / virtual meet ups4.Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy5.Peruse the forums!

The purchase of the land to create the subdivision was all very underhanded and the developer bought it from people many of which had moved out of the state or country and we’re paying maybe $300/year in taxes on their land.

We had a recent FHA quote with 3.5% down in the high 5%’s..What do you expect from the purchase and refinance markets if rates drop by 1%?

PURCHASE PRICE AND MORTGAGE: I purchased the property for $270,000 put 25% down, and it appraised for $290,000.There is a complete identical property to mine directly behind my unit and it sold about a month ago for $280,000 the same day it was listed.

It was purchased for $2.4 million in 2022. 

1.Subscribe to the BiggerPockets Money and Rookie Podcasts2.Attend the FREE WEBINARS3.Attend a Meetup in Your Area / virtual meet ups4.Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy5.Peruse the forums!

Timing Rules: You have 45 days to identify potential replacement properties and 180 days to complete the purchase.3.