$ 86,000 PROFIT

Nice work!!
My first house I did it with owner finance lived in it while I fixed it up found another and rented that one out for a few years then got rid of it. I never thought about a new build, this gives some new thought.
Im looking for rehabs now and a few months back I found a prop that the roof was leaking so bad it was going down the inside of the walls that made the subfloor so bad I thought about making an offer just for the land and scrap the whole house and build a new one to sell. I didn't make the offer and moved on hmmm might have to rethink this, its still on the market and the DOM is well over a year.

I have 20 acres for sale that only has a cabin, hanger and grass strip on it and thought it would cost to much to develop it, I didn't do much research because my profit is still over 70k. Might have to do more research on this..

Thanks Jay for putting some light on this.

________________

Aaron

That's your new name Jay !! Great profit from that one..Yea, when the ex and I built ours we had 300k profit built in the day we finished. I was the general contractor on the build and subbed it all out. Boooyaa

Sweet !! Sounds like you should develop the acreage you have and make some more profit

Thanks for sharing this Jay.
Always great to hear from someone who has first hand experience, and thanks for showing an example from your own projects. I have been wondering about eventually getting into new construction projects. I came across a few land deals over the years but never acted on them before. Will keep this in mind as I work to expand my real estate business into other areas.

Thanks again. Keep up the good work!

Jay, You're Amazing! So proud of all that you and Karen have accomplished. Can't wait to come play with you!

Hugs,
Andrea

The problem I think will be school districts, its only 10 min from town but not in AR, its on the boarder of MO and no school within bus travel, not what everyone wants.
I have it marketed to pilots and yes I know that's a small market but you have given me a thought, sell lots for the airstrip with yearly dues for strip access, hmmmmm, they build? I get fees for life of loan hmmm.

Im a pilot and I can tell you grass strips are going away. We want grass strips but people lose them for whatever reason and to be honest I would keep this just for that.......

Now that ive said that, I think I will keep and rent lots out they build hangers I get fees for life.

Thanks Jay
Wanna go flyin

Aaron

Hello Jay, what you have accomplished is amazing and GRADULATIONS!
Much more success to you and Thank You for sharing your experiences.

so sweet way to go! yea that is what Dean did on one of his earliest deals right subdivide & build I believe or just sell the lots I think but he subdivided them. awesome, I feel i could actually do a new build now & I will eventually I'm sure but for now wholesaling, i got a deal 3 weeks ago for $3,800 here in san diego from a bandit sign my friend.

sticking with that, california is soooo expensive to build before you even break ground here you've already spent about $70k on permits etc of course greater profits too if you can buy the land right so who cares huh

Question? Were you able to get the tax break of no capital gains bc you lived in it for 2 yrs? I thought I heard you had to own it for 5yrs live in i for 2yrs minimum but own for 5yrs, is that true? Thx your going to the Edge right? see you there buddy. PS you are really crushing it man I love your tenacity of no matter what you are not giving up, you are a monster man in a good way:) God bless

Sweet deal Jay! I have a friend here that use to do rehabs but switched over to new builds 2 years ago. I spent time with him on Mon, he took me to a half dozen of his 14 new builds he has going on right now. His profit in each is $100k each! He also adopted another strategy, he builds a new house for himself and then lives in it for 2 years and sells it. He pays NO TAXES since he lived in it for over 2 years like you. He is in his second home now and will be starting to build his 3rd to live in in a few months. We have talked about doing the move every 2 years deal for the next 10 years, maybe 4 times in that period and then the last move would be into a house that is 100% paid off the profits from the other sales.

NOW we know Why builders build.

Builders here say "you build 2, get 3rd FREE", some do better than that.

NICE JOB

Sounds like a great plan Jack. . Thinking Wish I had started that plan when I was a bit younger, but I guess its never to late to start.

Thanks Keith !! WOW 300 k. That's a nice profit. Too bad we couldn't make that on all of them. Being The general contractor is a great way to make profits as long as you have reliable and good subcontractors. I love building new and always looking to improve and learn more

I love sharing what works for me in hopes that other will use and expand upon my actions. I hope to hear you have taken action on your intentions soon. You can make it happen. With this site and many investors sharing their successes we can all improve on any strategy we set our mind to. Good luck and take action !!!!

So awesome! I'm sooo happy for you and Karen! All your hard work is paying off and the momentum is building more and more everyday. Keep rocking because you freaking ROCK!!! Congrats on your latest new build too, it's coming along really fast! Looking forward to seeing you in a few months at the EDGE!! Thom

No YOUR amazing !! Excited that Karen is involved and crushing it in the real estate business with me. Can't wait for you to come spend some time with us. !!!
Jay

That's great that you are targeting a specific market and you should keep hammering that avenue and see if it get you anywhere
I see at the end you say you want to go flying ?? I say yes I have 11 hours of pilot training but have not finished to get my license yet I love being up there it's a whole different world just like Real Estate

Thanks for the Encouragement Jay.
I just keep moving forward one step at a time.

Thanks Donald !! I am grateful to have learned an immense amount of knowledge from Dean , his staff ,his top students and all his products and I am proud to be able to share with others what I have learned . Between what Dean shares and all of the students there is no reason for anyone to not be able to crush it in Real Estate . The knowledge is here the only missing piece is the action on everyone's part . This site has massive amounts of information and ways to do any strategy available in real estate and I hope everyone uses this to their best advantage. It's great to succeed but it's even greater to teach others and see them succeed also !!!
Jay

Thanks bro !! Yes we have to live in it for two yrs to capitalize on the Capitol gains tax !! Or else figure in all the expenses of taxes and cost of owning for 2 yrs like taxes, insurance, etc and raise your selling price to reflect or also lease option with balloon. There are ways to figure out how you can sell before but a CPA will be needed and you will want to know what you are doing in your state. Yes California is a little different aim but if you stay the course and figure things out like you are doing then you will only get better. Most people give up but I know you will not. Yes I will see you at the edge. Getting excited to go !!!!
Jay