I made that mistake a lot in the beginning - yes putting in new cabinets will be great but it won't impact value much in some of the neighborhoods I'm investing in, for example.If you're local to the area, I think this is a great way to start in the REI world!

I would strongly recommend you get linked up with an accountant who is more real estate focused in order to avoid any further costly mistakes. 

One of the worst conditions we've bought properties in recently.The seller’s sister reached out to us, desperate for help.

Start small and Make Your Big Mistakes Early. 

Due to the bias against low down payment loans from sellers and sellers agents these buyers end up getting the worst of the houses.  75% of the multifamily market in Worcester was built between 1890 and 1920 and have major issues. 

Chris saw the post Thursday night, had no record of me as a buyer with REI (my mistake, long story) and went to work. 

All that to say, PMLs are usually more concerned with the value of the property and will lend at a lower LTV regardless of ATR (ability to repay) because they know they can take the house for 65 or 70% of the value if you default in a worst case scenario.Hope this helps!

In our worst neighborhood (the second poorest in Akron), we have our second oldest property.

Without proper guidance, it’s easy to make costly mistakes that can derail your progress early on.Having access to solid resources—whether it’s books, courses, mentors, or investing toolkits—can help you navigate the unknowns.

No, after doing many flips I know what my guys charge, so I have a rough estimate of worst case scenario and work up from there.