Build wealth, not houses

Well we're nearly finished with Market 2. Its been a TON of work and nearly 6 months to complete this project. The house is beautiful, and I think we'll be able to get some good rent out of it, but I am here to build wealth not houses. Even though we bought this place for a very low price, and yes, the house is awesome now, and sure we could sell it for a decent profit I think, and yes, there is going to be some decent positive cash flow... I screwed up doing this deal.

Now how is it I screwed up, even though I just said we could sell for a nice profit, we are going to have good cash flow, etc etc? Well as I said in the title of my post, I'm here to build wealth not houses. For the sake of this example, lets just say that each house I rent out, I make 250 dollars profit on, after taxes, insurance and bank payments. If I buy houses that take 6 months to complete, I'm only going to increase my passive income by 500 a year. If I buy houses I can bang out in 2 months, I can increase my passive income by 1500 a year. Over 10 years time the cumulative amount of money LOST is incredible.

And here's the thing, I can guarantee a nearly identical profit margin. You can pay less for a house and put more into it, and sure it might be a little bit better than the one that you pay more for, but it only needs a little work, but as I said, I don't really want to buy houses that need EVERYTHING and basically I'm building a house from scratch. I want to get houses done and rent them out as fast as humanly possible. That is what makes you money.

Anyhow, I'll post some pics and or videos of Market 2 really soon. I'm crunching and getting it done in the next few days so after that expect a nice update showing beginning to end of this house. I'm really proud of it, but next time I'd rather pay 10 grand more and get something that doesn't need every single thing redone. Its way too nice to be a rental :)