During the renovation phase, adhere strictly to the scope of work and budget, conducting regular walkthroughs to monitor progress and ensure quality.As the project nears completion, prepare for sale by staging the property to highlight its best features and create buyer appeal.

I just moved here and bought my first SFR with a detached ADU and currently renovating to rent out.

My question is can I purchase this property, renovate the top two units and just leave the basement as is?

It's amazing to see old properties get renovated into something beautiful again - It's one of my favorite things about being a Chicago general contractor!

Scaling with Business Lines of CreditAs your business credit grows, you’ll qualify for larger funding opportunities such as:Business Lines of Credit (LOCs): Flexible borrowing for down payments, renovations, or operational expenses.Unsecured Business Loans: Access up to $250K or more without tying up personal assets.These financing tools allow you to scale faster while keeping personal credit utilization low.5.

@Saul Clavijo make sure you understand you will be getting into Class C properties at those numbers.Food for though below, DM us to chat more about Detroit:--------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I am new to the real estate game and got my foot in the door by purchasing my first property as a live in renovation.

If you come to me and say you super handy ready to take on a major renovation my answer will be different compared to if you come to me saying you need turnkey and 30 minute commute to NYC.  

Can you afford to sit on three vacancies and the cost of renovation?

Here's a quick summary of the Fannie Mae Home Style Renovation Loan:The Fannie Mae Home Style renovation loan program can finance the purchase and renovation of a home in one loan.