In terms of mitigating your risk - particularly if you buy a condo - consider a newer building, steel or masonry construction, a unit on Floor 3 or above where Flood insurance wouldn't be necessary, larger buildings where costs are spread amongst more owners, and buildings with a financially healthy HOA (track record of good management, reserves in the budget to cover large capital expenditures, etc).

Is building an ADU a good idea right now, or ever in this area?

To provide clarity about my situation, I am currently job transitioning and would greatly appreciate insight on building a portfolio with income limitations.

I have been looking for opportunities for a while now for a fix and flip to start building capital to eventually build up a rental portfolio.

As I need to register this business with the state and county, should I need to register LLC as "531110 - Lessors of residential buildings and dwellings" (NIACS code) or something else?

Wanted to start adding cashflow and building a portfolio.

I'm looking at building a 13-acre glamping / camping site about 75 minutes north of Manhattan in the Hudson Valley.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $1,600,000

Cash invested: $1,600,000

Residential Home used for reality Television filming

What made you in...

We are estimating we could build at least six houses for a total project value of $6.6 million.

Good communication will build trust and can lead to more investment down the line.When it comes to sharing how it worked for others, people often highlight the importance of alignment in investment goals and risk tolerance.