In your contract, include clear timelines, quality guarantees, and protections for unforeseen costs or issues.

Haggle with them to a maximum 60 day timeline) as you need time to renovate and get it ready for spring/summer market when most peoples leases are up.

Some are overly leveraged, while others focus on stability and income production—alignment with your goals and timeline is key.While 1031 and 721 exchanges are great tax deferral tools, they’re just one piece of a larger strategy.

There are pros/cons to the bay area vs out of state and everyone's situation is different to reach their goals within their own timeline. 

Sounds like you are happy with the answers but here is something else to consider: NJ is a judicial foreclosure state so timeline to foreclose is multiple months at a minimum and could even be over a year depending on the tools you have.Is your lender a big institution or a smaller private lender?

Since then we have focused on my 2024 books and I’m all ready to file my taxes now which is months ahead of my previous timeline.

Have a clear plan on whether you’re flipping or refinancing.Resale Timeline: Luxury homes take longer to sell, so choose a lender with flexible extensions.Comps & Market Data: Lenders will scrutinize your market comps carefully—be ready with solid data.Recommended Hard Money Lenders for Luxury DealsLima One Capital (nationwide, up to $5M loans)Kiavi (formerly LendingHome, great for experienced investors)RCN Capital (offers high LTV & ARV-based loans)Dominion Financial (fix-and-flip specialist)Private Capital Investors (custom luxury financing)Key TakeawaysHard money is a great fit if you’re confident in your numbers and have a strong exit plan.Shop lenders to get the best terms.Ensure you have reserves to cover holding costs in case of a longer-than-expected sale timeline.If you need help structuring the financing package or connecting with a lender, let me know!

Many investors are adjusting by using more cash or creative financing strategies to maintain profitability.Renovation Costs: While labor and material costs have somewhat stabilized, smart budgeting and working with reliable contractors are still crucial for keeping timelines and profits in check.How has your strategy changed for those currently flipping in Phoenix?

This just covers the basics: how many people, do they have pets, what is their timeline for moving?

Timelines, budgets, quality of finishes, they all need to go well for your exit and if your in bed with a GC that only cares about himself then all those things will not go right for you, but he'll still get his money.People really underestimate the following:1) The cash they need to close and carry the project2) How hard it is to have a GC stick to what they promise3) How long it may take to exit through a sale