We are going out tomorrow to look at a flip currently under way by a buddy of ours that has flipped several already. 

My first deal is currently underway. 2/1.5 condo purchased for $19,947 (after closing cost).

I've been lurking for a while but decided to finally create an account tonight.The property is a 900sft 2bd 1ba listed for 40k(30-35k negotiated) that would need aprox 25-30k in rehab.I'll post more details in another section as I know this is a introduction thread.Well I hope to get to know some of you and am looking forward to getting this under way!

That being said, several projects are under way now, demand for DT residential is very high, one very large residential project that has been sitting for years just got the green light on the loan paperwork, more businesses prospering etc.  

So its working out wells so far...we will see once rehab gets underway. 

Or...Cost to Scape & Build:      $500,000  (3,400 sq ft)Sales Price:                        $750,000Gross Profit:                       $250,000Then subtract out the holding costs (payments on the bridge loan, while construction is underway), the opportunity loss (you will have significant financial flexibility tied up, plus the Time Value of Money equation), now figure out what your risk contingency is and subtract that as well.  

I currently have a duplex project underway which with this particular one it is a tear down and I am building an entire new duplex. 

Does anyone have any recommendations on who I should use to insure my property while renovations are underway?

Purchase price: $71,000 Cash invested: $30,000 Sale price: $149,900 One of our flips we currently have under way.

Now I am trying to get my first deal underway and we are about to close but the initial investors do not wish to fun the deal due to certain guidelines set up by Freddie Mac and Fannie Mae and now they are asking for a Higher Down Payment 20% and have raised their Interest to 7%The property is a 325k Duplex (3/2 & Efficiency) with Rent $1600 & &675, fixed and based on local comps found through RentoMeter rent can be raised to $1900-$2000 and $800-$900 respectively; i have about 40k but since now they are asking for 20% down, i need a total of 64k to put down.I've considered backing out of the deal and fix my credit all out and look for a new deal next year or try to force the matter by getting a private loan to put down on the property.