Labor is not cheap , workers comp for roofers is crazy high , add in dump fees .   

I have sellers of a t6-8 zoned property that would take 1 million right now I'm sure in Wynwood Norte. we can go 12 stories through max incentives and put 60 dwelling units on it. we entitle the land it becomes worth 3 million, then you have construction numbers, sale prices, etc. miami is crazy. the best way to make money from a professional in this industry for 13 years who lives in miami and looks at deals in columbus and miami is development and getting involved in early development opportunities of raw land in urban settings where there is very little risk and pushing high density.

Job growth and economic development in the area, such as the establishment of new manufacturing centers, will further bolster housing demand​​.Mortgage Rates and AffordabilityMortgage rates, which have been at two-decade highs, are expected to stabilize and potentially decrease slightly due to anticipated federal rate cuts.

However, there is a difference between just turning a profit and making enough money to get a decent return and justify the hassle and the risks.

Lending could be an option but with interest rates high 7, I am looking for other creative options.

Gives me hope there's a high ceiling, not Austin-like but enough upwards momentum to keep me happy.

It's certainly much harder now to cash flow while house hacking with high mortgage rates, but not impossible.

A good option might be a hard money loan for the front end at high leverage (15, 10, or at most 20% down) and then adding value and pulling out equity via a DSCR cash-out refinances qualified with AirDNA projections. 

Most truly individual private money lenders don't love construction for a number of reasons: - Time horizon on these projects is too long and the project itself highly speculative - Most construction loans are non-dutch, meaning you pay only on what funds are released and PMLs don't like having to earmark additional funds that aren't deployed and aren't earning a monthly interest on

The demand is pretty high for Pocono and we only have unique home rentals to stand out from others.