All Forum Posts by: Therese Cayard

@Jules Aton My investment strategy with this purchase was either build to rent, or build to sell! Since the carrying costs for this property isn't high, holding on to it for a few years was always in the plan. However, now I'm considering a sell to free up some cash

My investment strategy with this purchase was either build to rent, or build to sell! Since the carrying costs for this property isn't high, holding on to it for a few years was always in the plan. However, now I'm considering a sell to free up some cash

@Ken M. The plan was to build a home and use it as a vacation spot for my family and as a rental during the times we are not occupying it. Currently my carrying costs are about $2500/year (HOA Fees & property taxes). I can continue covering this costs, however I was planning to use the proceeds from this sale to help fund another project. As fees continue to increase in this development, my desire to build is declining.

I purchased a quarter acre lot on a culdesac back in 2023 for about $25k, which included a buy-in fee of $5k into the community and closing costs. Two years later the buy-in fee has increased to $10k, HOA fees increased, and there's a special assessment for approximately $2800. I was planning to list at $50k, cover buy-in fee of $5k and 10% commission. With the new increase in fees, I would basically break even. Should I hold for longer or sale?

Hi BP Community,

My name is Therese, and I'm a licensed realtor in DC and Maryland. I'm starting my investment journey into real estate! I've completed four land purchases in the last 15 months, and I would like to focus my efforts on multi-family and building my own properties. As a realtor, my passion is finding rehab properties for clients, assisting with design, and educating them on financing options to help them meet their goals.

I joined BP to learn from the community and connect with local developers, investors, and contractors from all specialties.