There are a lot of variables to determining the cost of development.. hard costs, soft costs, financing costs, holding costs, etc.

However, if your inspection were to uncover a few items missed in your initial walkthrough, such as a soft spot in subflooring or an electrical issue, it’s a lot easier to ask for $1,000 here or there compared to a complete $30,000-$50,000+ rehab.The obvious answer is yes, bring your general contractor with you during the initial tour.

Originally posted by @Thomas Bass:@Collin H.

I know I am way to soft with my tenants, in always trying to come up with a solutionto their problem.

@David Weskamp I don’t know much about fly fishing BUT I do bass fish and crappie fish aggressively!

Also you need to get an estimate on repairs, these numbers need to be as exact as possible with enough room for you to make money wholesaling it to another investor, make sure you take into account soft costs.

Using a cap rate calculation along with an estimate of operating expenses (30% operating expense margin as a soft rule of thumb), we estimate the building will be appraised at around $1.45M to $1.5M.

I am married to a beautiful wife of soon to be 7 years and we have an incredible son who will be 4 in April (FYI - we actually share the same birthday)I am currently in the soft tissue/rehab world (people not houses) and work at a chiropractic office.I am honestly getting into Realestate investing to achieve TRUE financial freedom for me and my family.

We just did a soft launch on our Tiny Home Hotel and RV Park in Meeker. 

@Aaron Gilmer This is a great question, and was wondering if you were looking at the Soft Second program with Mass Housing or a different program?