Refi after construction.These numbers consider only the portion of costs of the HEL attributable to the land purchase, not the payoff of the HELOC (which we took out to buy the Seaside condo).Cash In:                     $66,166 (Cash, 1 year of debt service of HEL, debt service of const. loan, furnishing)Amount Financed:      $548,000 (home equity loan + construction loan + closing costs)Total Cost of build:     $614,166ARV:                               $850,000 (or rather "after construction value")Refi                                $637,500 (75% of value + closing costs)                                        Cash Out                       $89,500New payment             $4500/month (54,000/year)Estimated Cash Flow (pre-tax numbers, so actual mileage may vary)airBNB year 1:            $70,000     (net income $16,000)airBNB year 2:            $100,000   (net income $46,000)airBNB year3+:           $120,000   (net income $66,000)ROI (construction year):    0ROI Year 1 of STR:              24.2% ROI Year 2 of STR:              69.5% ROI Year 3+ of STR:            99.7% Did I calculate these ROI numbers right? 

Depending on the amount owed I might pay it off after I’m under contract to do a property inspection and ask for the money back at closing.

That higher interest will be a lower cost than the closing costs for the refinance so a net gain (depending on your new loan size). 

.✅ Denver - April - $610,200✅ Westminster - April - $570,000✅ Arvada - June - $655,000✅ Thornton - June - $560,000✅ Lakewood - June - $605,000✅ Englewood - July - $600,000✅ Morrison - June - $968,000✅ Conifer - January - $872,500✅ Evergreen - April - $1,200,000✅ Golden - May - $1,025,000✅ Littleton - April - $680,500✅ Parker - July - $715,000Certainly these months/time frames can change in 2025 depending on mortgage rates, inventory in your city, etc.But, if all remained constant, this gives you a ballpark idea of time of year to net the most money

i think its the easiest asset class to understand that isn't stocks and a lot of peoples livings depend on marketing how perfect it is

Depending on your finances you don't necessarily need to start with a duplex, but I wouldn't go any more than 4 unit if you're going residential.

@Annie DriscollSubsequent borrowing by the AITD holder seems to be dependent on the lender.

Where you pick will depend on your goals for cash flow and your budget to buy.

Modern units operated down to -5 degrees so it should be adequate for a cabin in OH depending.

It looks like Kevin's and my markets vary.