What started as a promising BRRRR ended with us making the tough decision to sell at a loss after an unexpected disaster.The Numbers:Sold for: +$230KPurchase Price: $115KClosing Costs: $3KRehab Costs: $105K ($49K original rehab, $56K additional repairs due to the car crash)Holding Costs: $31K (12 months)Selling Costs: $16KInsurance Claim Recovery: +$25KNet Income: - $16KWhat Happened:This was supposed to be a BRRRR.

LLC/ Corporation documentation (Must be a US based corporation or LLC) Most lenders may require a minimum credit score of 650 for this program if the borrower has US credit. 

.: Massive loss of accrued interest and principal????

Sell at a slight loss.

When evaluating potential properties, consider three exit strategies: if you can sell quickly for a profit, hold it as a rental, or take a loss.

Hi David,I’m just entering the flex space development space and recently joined a mentorship program to deepen my knowledge (I do have experience in commercial MF).

Jobs will be revised in 2024 to show a net loss in jobs.2.

You’re going to be personally sued no matter the cause of the loss.

Quote from @Paul Azad: Beautiful property Blake, and great growing area, i drove through a few years ago, amazing scenerey and perrenial vacation spot, would you feel comfortable sharing the structure of the syndication for the investors, fees, projected IRR, or time weighted avg returns etc from a potential passive investor perspective?

Hi Umesh - I am looking at this program also.