I was playing with the idea of selling my condo, taking 300k of the equity to put a down payment towards a house listed at 660k.I'm assuming the reno will run $300/sqft and going in with the assumption that phase 1 will run 750k (figure the expansion of the house will have to wait) for the gut reno.I assume/hope (but definitely not banking on) that I will be able to refi in 2-3 years at a lower interest rate; if not for a lower rate.This will likely be a family home for the next 5-10 years at LEAST so investment value isn't quite at top of mind ATM.Questions:Even if it's not for lower interest rate, do you feel it's advisable to refi to remove the 203 loan in the future?

Its a 3bd/1.5 bath row home Either the rehab sucks and the house looks like crap, or, you overpriced it.

Strategic investors focusing on quality assets with strong fundamentals will likely find attractive opportunities as the market continues to normalize.

New construction properties can qualify for significant insurance discounts, but otherwise, I generally expect insurance in this area to run a little over 1% of the property’s value if it’s in decent condition.Feel free to DM me if you’d like a good insurance contact to shop around for a better rate.

Hi Derek,Based out of Surrey, BC and thinking of investing in the states as well.

Well, not so fast.For every successful flip, there is an account of some nightmare project that sucked the bank account of someone dry.

This coming weekend we were thinking of come out and checking the neighborhoods of few zips where there were houses we liked on MLS.

Keeping rehab costs in check means focusing on high-impact upgrades like kitchens, bathrooms, and curb appeal, while avoiding over-improving the property.

You should vet the company to ensure they have the resources to pay the rent.You ALWAYS do background checks on the people living in your property because if you let in an axe murderer and they harm someone, you are likely to get sued.Whether or not you charge an application fee is up to you.  

We like doing the hard work of doing due diligence, researching property histories, getting estimates, negotiating contracts, etc.We're also going to be looking to buy and hold in the near future possibly by BRRRRing.