This generated $2M+ in equity, and thus is highly lucrative, but takes 2-3 years.Note worthy: I am located in California, but I did this project in Canada.

We’d like to continue with this project remotely, but the idea of managing contractors and overseeing a renovation from afar feels a bit daunting.Have any of you undertaken a similar project?

I’ve done a couple of fix-and-flip projects in the past, both of which were financed through hard money lenders.

And I was constantly more worried about my own project.

Quote from @Scott Scoville: Just finished one of our bigger projects.

The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

We estimate the project will take less than 3 months to complete.I’m exploring alternative short-term financing solutions and would appreciate any advice or recommendations on options that might work well for this type of project.Thank you in advance for your insights and assistance!

A buddy of mine who invests out in Phoenix once had a client facing a similar timing mismatch on a rehab project.. they ended up working closely with a local credit union who was more open to interim valuations.

Can anyone share a breakdown or budget for a similar project in a similar area?

I'm an experienced project manager with hundreds of cradle-to-grave efforts under my belt, including building project scopes and budgets, evaluating contract proposals, and managing construction to maintain the delivery of high quality products on-time and in budget.Penny is a licensed clinical social worker (LCSW), serving the community mental health needs of parents, children and families.We both recognize we have an immense opportunity to serve our community and want to capitalize on the blessings we have been provided so that we can continue serving our neighbors.My wife, Penny, and I are looking to transition into commercial multi-family real estate in 2025.