I strongly advise anyone purchasing an old house to flip to ensure they have a clear understanding of the condition of the home's drainage system.

I would also suggest finding a 100% LTC (loan to cost) lender that will fund all of your rehab and all of your purchase.

Understanding the true material costs is important and I urge investors to get a good grasp of this before agreeing to labor only bids where they are responsible for purchasing materials.  

Purchase price: $615,000 Cash invested: $630,000 Sale price: $1,500,000 New Construction

Purchase price: $122,000 Cash invested: $41,000 Value after renovation $175,000.Closing $ 31,000 Renovation $ 10,000 How did you add value to the deal?

It depends.On the property, the location, purchase price, demand in the location etc.Yes you can make it work but you must do your do diligence and run the numbers.

Purchase price: $45,000 Sale price: $175,000 I lived here for a few years then when I was married it became a rental.

Congrats in advance on your purchase :)

I'm looking to purchase my first property with my fiancé (both 25) with the goal being to establish our primary residence together, as well as giving me the opportunity to add equity/value via rehab before moving on and converting the property into a rental within a year or so to kickstart an investment portfolio.An interesting lead that recently came up is my parent's neighbor's house.

This is a quick calculation that we can do to see how much house you can purchase at 100% financing if desired.