Investing in single-family residence fix-and-flip projects in New York involves purchasing distressed or undervalued single-family homes, renovating them, and selling them at a profit.

The city wants to tear the property and surrounding properties down Zillow said it’s worth 38000The city offer me 13000.I could use some adviceHard to give advice with limited information, but as a general rule, the longer you wait and the further down the line their project is the more valuable your property will be to them.Zillow (and all automatic online) estimates are very unreliable, so don't base on that.

So here we are, halfway through escrow period, and I'm very excited to watch this project come to fruition.Anyone on this platform invest in SL?

I tried to use an app called melio to pay some of my contractors with a credit card and it cost me more headache than planning for my rehab project.

The answer is that if the lender that's doing the hard money loan is only funding the purchase and not the rehab, they then have less oversight of the project since they're not doing the draws, and thus not seeing the progress of the project and having control of the funds or draws from the rehab to make sure the project is progressing.

And while I agree that debt is often the cheapest form of capital, if you are looking at a project that involves some form of value-add business plan, you can always refi either when rates come down or you have increased the yield on the asset to exceed your interest rate.But like Stuart noted, for many groups, even the most seasoned syndicators, raising call cash for their deals is effectively impossible.  

I only charge markup on maintenance if it's a larger project that requires more coordination, supervision of the work, and inspection after completion.

I'm looking to finance the project long term in a way that is helps me create positive cashflow.

Has anyone done such a project before?

We're not aware of anyone that's made a purchase from them work in over 3 years:(Most of the incentives in Detroit are targeted to owners that will live in their home or developers targeting large projects.