Also, $625 for capturing pictures and building a 3D model of the house to go on the website.That leaves $16,338 for adding two bedrooms, among various other mostly minor fixes and cosmetic stuff.I put 20% down on my loan.

We did that for about 3 years until Jeff informed me he'd fallen behind on property taxes, and all of his lenders called the loans due.

you can use a DSCR loan if your DTI is too high for conventional. 

@Jordyn Ohsnot enough info to helpbut if you're using a HELOC for the down payment AND getting a loan, then you're probably negative cash flow given that's 100% leveragei would never do that unless i were going to refinance in the short term

I would include servicing costs of the loan and licensing costs.

The key would be making sure to talk to a local banker that can do CRE loans for owner occupied properties as not all banks do them.

There's no current loan on it right now.

I have been less active on the investor homefront dealing with an unexpected curveball I got thrown in life.Still have big goals for Q1 2025: -Get Pre Qual'd for VA construction loan(may be until later in the quarter as I also have to refi out of my current VA loan to regain full entitlement.

Bridge Loan: A bridge loan could provide the $150,000 you need until your tenant-free property sells.

Hi @Vincent Plant,You've gotten some great advice on what to look for in a hard money loan.