So, I financed this deal with just a conventional mortgage after double checking there wouldn't be any early pay off penalties. I came across this deal on MLS... This property came on the market early monday morning and i had an offer in by 7pm the same day competing with another cash buyer.
A few challenges I came across included finding GOOD workers!!! Sounds cliche but it was so true. Everyone says they can do everything but really can't do anything...
Another big one was that I really had no idea or put any thought into how expensive some materials were that I could have saved and just refinished/painted
Really upset I was at myself for not having a structured game plan on how exactly to approach the renno. This is definitely something I have learned, would have made things a lot easier. So thats definitely something I will be putting in some more time on my next project.
@Raymond Atzbach - see what you can save ! Lots of little things turned out expensive for me and a 4$ can of spray paint sometimes is all you need. If you have any specific questions shoot me a message. I would be happy to help
@Andrew K. - Thank you very much. Yes the deal i financed with just a conventional mortgage and the renno was personal funds.
@Mike Anderson - My biggest recommendation is to save old materials as much as possible. I could have saved all the old, nasty looking, yellow pantry doors, cleaned them and spray painted them white and would have looked brand new.... instead i threw them all away which could have saved me $700 plus a day of labor. Another big thing is to order materials online rather then home depot or lower or any other big box store. -something i didn't do but definitely doing on my next project.
@Ashley Wilson- I agree with you, I was happy it didn't sit on the market very long and cost me more money... I personally worked on the house every day, 7 days a week. I did always have some guys in there working but I was always there as well.
