It was not an easy one, since we are in CA and the property is in OH, but we made it through and are looking to take on our next project.Bought: $79,900Initial budget: $65,000Real budget: $97,000 (mismanaged project by initial contractor (and second contractor))ARV: $219,900Improvements:Brand new siding on the second floor (was not in the initial budget)New roof (was not in the initial budget)Sealed and painted the basement - was quite creepy down there beforeOpened the floor plan from the living to the kitchen by widening an existing walkwayMoved the kitchen from one side of the house to the other to capitalize on the stained glass windowsGutted the upstairs bathroom and added really good looking featuresAdded a half bathroom and laundry room downstairs by the entry to the backyardNew ACNew plumbingNew electricOur contractor performed extremely poorly on this job, and I am happy to share a cautious word with anyone who aims to invest in Cincinnati about the team at Kaiker Development and Creative Customs Carpentry.

The contractor/pro can say that they fixed it & not currently an issue, but still need to disclose - probably put that doc in the supplements &/or give to any potential buyers. 

Supplemental income will get you through lean times—and you may discover that you really like working in the wholesale space, too.

Are fellow syndicators aiming to achieve this as an average over the life of the deal or from day one of the deal?

Hi Cathey,Whether you like this deal depends a lot on what you are aiming for.

Aim high right?

However, being in the “accumulation phase” (early 30s), I figured I can sit on the 30 yr notes and let others pay them off.To tap into the appreciation equity I have opened a HELOC out as well, but really haven’t used it.I was considering putting this money into one of the online crowd-funding syndicates at a higher rate 8-9% and aiming to generate a paltry 2-3% more than the HELOC rate.

Supplement it with some business / legal classes, Spanish (if you plan on being around construction), take some real estate classes if offered as electives and you should be all set.

I aim for 3 months cash in reserves to cover emergenices relative to the property.  

I do aim for about a 10% cash on cash but with the market so tight and evaluating over a ten year hold I typically focus on an IRR of 20%.