Its a good thing they profited, because projects can go south sometimes and then that really hurts.  

I assume that's because its a relatively cheap project to finish a basement.

I was wondering if you found a lender, and if so, how your project is going.

@Albert Gallucci as many have pointed out, in the commercial space of 100+ apartment buildings and offices, property classes have some pretty decent industry standards.We started applying these to 1-4 unit properties around 10 years ago, which you can verify on our blogs, because we saw too many newbie investors not properly taking into account things like, neighborhood status, tenant pool, property condition, etc.Unfortunately, there's no industry standard for this, but you can use some basic logic to think your way through your own Classifications.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $420,000

Cash invested: $55,096

Purchased a distressed single-family home in Antioch, CA, using the BRRRR strategy ...

When you start to do a lot of projects, 50% is a lot of money to go out when you are scaling, finding deals, and doing all the other footwork.

I have a question and would really appreciate your input.I’ve done a couple of fix-and-flip projects in the past using hard money lenders, but I’ve noticed that their fees and interest rates significantly cut into my profits.

I agree with the comments above.Most important is a fully furnished, comfortable property with the basic amenities: coffee, teas, functional kitchen (all utensils, spices, cooking and baking, etc.)

What I know is that for doing tangible real estate projects, a Spanish SL is needed as a working entity that holds the asset on its balance.

This reminds me of the discussion around pricing things at $x.99 instead of $x+1.00.EXAMPLE: $4.99 instead of $5.00Everyone "knows" that the price in the example is basically $5.So, why do billion dollar companies, spending more on marketing departments than everyone's combined income on this thread, STILL use the $x.99 pricing format?