With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

They didn't pay for it, so they don't take care of it like an owner.Before you make assumptions about costs based on a seller's contribution to improvements, find out what they improved? 

.✅ Do your research to learn what is realistic.Spend time really considering what type of business is going to be the best fit for you based on your experience and how you want to spend your time once you are the owner.

Located about 1/2 mile from the base of Sabino Canyon recreation area and Coronado National Forest, beautiful mountain views, cut-de-sac, very nice neighborhood.  

What index are your heloc's based on ... ?

My favorite calls are from prospective clients who have been with another company - they know what matters to them and I know a lot about how the relationship will go, based on what they've experienced with another PMC. 

Have invested in ABQ with first purchase in 2020 - and that was based on my knowledge as a film/TV friendly area and affordability.

Private Money Lenders (PML): More flexible, relationship-based funding with lower fees.

To rent the home, I would lose about $2,500 per month (based on comparable rents in my area, property management fees, etc).Both options loose the same amount by roughly 2 years, and by this time, I still will not have built up much more equity in the home to make selling it a break even unless there is price appreciation by then.My dilemma is this: I speculate that my home will not appreciate much in the next 3-5 years due to the rapid pace of development in the surrounding area.In 5-10+ years, maybe, but by then I'll have bled $150,000 - $300,000.I have thought about this a lot and feel that I mar'-too close to the problem to see the best solution.

I’m Dylan Fraembs, and I’m based in Long Island, New York.