Make sure you take time to celebrate milestones on your way to $100k!

I usually use these milestones as a way of getting into every unit to get a full read on the property.

It's the words "DEBT FREE" with a bunch of lines through it, and you color in a line each time you hit a certain milestone.

I have seen that Mountain American offers this 10% down NOO on 1-4 units as well but have had clients reach out to me since Mountain American can be very slow to respond and keep the loan process moving forward, especially on a purchase when hitting certain milestones is vital.

How do you guys set milestones on rehab projects and how do you determine project progress like 30% done, 50% done, etc?

You need to create big goals with milestones you achieve along the way.

We keep track of our 12 week goal with a point system and our 12 month goal is a bar graph that shows where we should be vs. where we are as we go forward.

The best contractors will either not require payment, at all, until completion, or will have specific milestones with dollar amounts.  

The monthly price per square foot graph is a bit smoother:So a square foot goes from costing ~$300 to about ~$400 in 3 years, a 33% increase over that time for a CAGR of just over 10%.Here are the corresponding yearly box plots:The Market Got FrothierMedian days on market of sold properties fell from 67 in 2019 to 59 in 2020 to 57 in 2021.

This supply has consistently risen, slow and steady, for the last 40+ years... until COVID.Check out the incredible graph below.