We added value by investing $55,000 in extensive renovations.

We added value by investing $55,000 in extensive renovations.

Significant improvements excluded were homes that after the 2017 sale were torn down and built new, large renovations, additions added, extensive deferred maintenance addressed. 16 of the 152 homes were excluded leaving 136 to further analyze.Obviously there is some subjectivity in determining which homes had ‘significant improvements’.

You don't want to do loan extensions, pay more taxes, pay more holding costs.   

I have done this a few times myself and have a few basic recommendations:1) Make sure the seller owns the property free and clear and that it's very clear to both parties whether the arrangement involves a deed of trust or contract for deed2) If a balloon payment is involved, be sure to assess your ability to refinance and make that balloon payment in the future- optional extensions can help manage this risk3) Understand the tax implications if the interest rate is notably above or below market rates4) Get title insurance! 

For right now, we don't need any extensive features, but just want the software to be a little more user friendly and RentRedi seems to lack a few simple things that we would like in a property management software.

Experience derived from extensive dealings with people for 40 years professionally and in the capacity as a landlord.

You could also reach out to the original hard money lender and ask for a 3-6 month extension.  

I was looking for something different, with a more simple, streamlined, process-based approach a la REI Pebble, and paid (and am paying monthly) because I took them at their word and did not do extensive research before making the purchase. 

Extensive RenovationsWhat was the outcome?