Purchased on 2/1/2024 for $58,500, we invested $55,000 in renovations to enhance the property’s appeal.

I just bought a lovely 8 unit last April that had been horribly neglected but have turned it around and done some cosmetic renovations and increased rents.

Honestly, I think this might be more symptomatic of larger issues in the real estate world in general.

I know of some folks in KC and Memphis doing new builds like this, but they are doing it within a much larger and long-term project that includes upwards of 300-500 units built over the course of 5-10 years.Assuming you're looking in Columbia, do you have a "B+/C" neighborhood in mind?

@Philip Beckwith, I disagree with some who think this should only be attempted for larger gross errors and also that you need to hire a company to do it.

Over the next decade the 'larger' coastal cities like Coos Bay, Lincoln City, Newport and Astoria will continue to mature.

As your deals get larger, especially when they are bigger than the equity in your home, a fix-and-flip loan may be worth considering.I'm happy to share my experience as an investor and as a lender.

@Troy Smith If this is your first BRRRR deal I'd meet the appraiser, shake hands, and provide a paperwork describing all the renovations you completed.

Feel free to inquire about their staff qualifications if it's a larger organization.2.

The lessons you learned the hard way in 2008 will be invaluable now, and it’s great that you’re aiming to stay small-scale and within your comfort zone of Sacramento, which gives you an advantage of knowledge in that market.Given your experience, I'd say start by focusing on three key areas to build confidence and minimize risks:Budget Control: Over-renovating was one of the big mistakes you mentioned.