This will help you develope your RE business, help you figure your market, network with others, etc.

If you are inexperienced (as we are) about the costs of developing land, even just putting a house on the land, you might look for good resources to figure out if it'll be worth your while, but after you do some homework, you should be able to know how much to pay.

Figure out what kind of demand you have in your area.

Most "newbies" don't get out there and figure it out, they just spend more money on more education hoping to get confidence that way.

Figure that out, and let us know.

To clarify the property was listed initially for 299,000 then at 275,000 for long time not sold so we figure marketied correctly with flexiblity we can get 250's which is 30,000 profit.

Guess what...the Senator himself is a licensed agent - go figure...http://walkthrough.nytimes.com/?

OK edge, I've read your post several times, and I'm not the brightest guy that ever walked, so I can't figure out where the heck you got your "equity build-up" numbers.Edge wrote For the first property, after 62 months (your break even point), he would have built $56,754 $56754 divided by 62 = 915/month!

When we opened up the floor and figured out what it was, we freaked.

My ulitimate goal is to have a 6-figure/yr cash-flow, but also have a portfolio of propertied which are held are for long-term wealth creation.