I have a good friend, who has built multiple properties. He is small investor and has had a handful of failures. His first real estate investment was the successful building of an apartment building in South Portland. His second was a three-floor commercial with a very large space. His third was a five-story, office building in Oakland.
I have also heard of people who have built multimillion dollar properties without ever making it big. And I have heard of people who have bought a property and then just lost it.
It’s not always bad to fail, but it’s definitely not always good to fail. It sounds like a lot of what we’re going through right now is a lot more than that, and that’s okay.
I feel as though people really need to stop and take a moment to really consider whether the “failure” that they’re going through is a failure because something was wrong with them or a failure because they just can’t afford or build what they want. I know that sounds harsh, but I don’t want you to think that there is a right and wrong answer for every situation.
I know it sounds like a lot of people are going through the same things, but there is a right and wrong answer to every situation, and that is that you just have to make it work. Like Ive said in a previous article, if youre willing to work hard and try when you dont feel like youre going to get it done, then youre pretty damn likely to get it done.
It’s the same for apartment living. If you can’t afford to live in your own apartment, then you can’t afford to live in your own house. But, like I said before, it takes a lot of work and dedication to be able to live in your own home and have it be what you want it to be.
A lot of the time the small investor who wants to buy a home might not be able to afford it themselves. But, as you get into the big league real estate players, you can and should work with them to make it happen. One of the first things you need to do is make sure the house is as close to the city you want it to be in as possible. This will give you the best chance of getting the most cash flows out of the place.
Building a home is not that easy, especially if you’re not in the city you want to live in. You’ll need to get approval from the city to build, then get the builder to sign some form of land use code. The city will not let you build unless they sign that you won’t harm your neighbors or disturb their neighborhoods. This is a pretty big deal because you could also have your house torn down and go from there.
The city will not let you build unless you agree to abide by that code. You can sign up for a lease and give the city your address, but you are still bound to the code. You can also pay a contractor to build it for you, but they have to give you approval as well. The key is to get approval from these two people.
If you’re an investor, you have a lot of control over your land, but if you’re an owner of a property, you have even more of a say in how it’s developed. If you build a small house or townhouse, then you have the power to develop it. You can decide to build a large apartment building or a large commercial building. Of course, if you do this, it’s important to market yourself well, so your neighbors don’t get suspicious.