This is an important rule that have always adhered to in real estate is that everything will always cost twice as much and take twice as long as you expect and that’s if you’re conservative in your planning.

Too many projects and properties go belly up because investors underestimate their development costs and holding timeframes. If you can still stomach the deal by doubling your costs and timelines, then you’ve got a winner.
 

Remarks: A $100 bill has the same value as a $100 bill one year from now, doesn't it? Actually, although the bill is the same, you can do much more with the money if you have it now because over time you can earn more interest on your money. By receiving $100 today, you are poised to increase the future value of your money by investing and gaining interest over a period of time.