If shortcuts were taken, and/or your inspector sees problems with the repairs, then it might be the worst case scenario that you would walk away from.

To echo all of the above tips, the key ingredients to all of this is consistency. 

Networking is key, and I'm always eager to build new relationships within the investor community here in Central Mass.Looking forward to seeing you there!

The plan sounds great and cool mapped out on keyboards but flipping rarely goes that smooth.

Whether you decide to rent your current home and move or buy an investment property to rent or flip, having the right financing strategy will be key to making sure your deals are profitable and sustainable.Here are a few loan options that might help based on your strategy:DSCR Loans (Debt Service Coverage Ratio) – If you're looking to buy a rental property, this could be a great option.

Also much easier to manage contractors to rehab.The key is finding discounts. 

Hi Jaime, if you’re new to real estate, here are some easy steps to get your feet wet and started: Read a Real Estate Book: Grab a good book to learn the key terms and language.

You're right, experience is key when lenders look at financing a construction deal.

Army Veteran and A&P Certified Heli/PlaneTech.Hobbies Include: Light Sport Aircraft, JDM Cars, Exotic Cars, Snow Boarding, Welding, Mountain Biking, Dirt Bikes, Jet Skis, Drag Racing, AutoX, Kayak, Loons Soccer, etc.....you get the idea.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.