Only 20 years old, I hope to make a lot of progress, not only providing my RE agent skills, but as an investor as well.

Who is going to write up the budget and update the books as the project progresses. 3) You THINK that flipping houses will be your EASIEST way to make profit?!!??!

And if it’s “timber to breakeven for 15 years because I think this is were the path-of-progress will take growth” is yet another educated risk/reward decision.I just cringe when I hear a rookie say “buy land” because (to me) it’s indicative of a.)

We raise rent to 50% of the gap between current rent and market rent, to make progress but still reward long term tenants.Long term problem free tenants are good, but tenants who so flagrantly break your rules and disrupt the quiet enjoyment of neighbors are not worth fighting for.

Now it’s just converting those into $$$.Good luck and keep us posted on your progress.

My progress is slowed by my full time business schedule, but I knew the transition would take deliberate time scheduling and effort.  

So, maybe the borrower finishes demo does some framing, then draws $10K on that loan.This way it allows borrowers to be fully capitalized, but protects the lender from over-committing capital until the property has progressed, therefore increased in value. 

Below are a few before and after pictures of the progress.  

Maybe we can help each other learn and progress in our REI adventures.Best of luck,Erik

At the end of each term period the lender will evaluate the progress of the loan and reset it for the next period and reset the interest rate to whatever the prevailing rates are at that time.You should generally get a loan with a lender in the same state as the property.Commercial loans don't have the same level of regulation like residential loans.