I'm very good at running comps and determining rehab costs.

If that is the case then that is considered cost of doing business and I would advise that should be calculated in your costs/returns you provide to the investor.IF you are referring to the investor who is the borrower - then I would have included that cost in the loan agreement.

I've added a few things for very minimal cost that guests really love and increased revenue ~34% year over year.

What I like about multifamily is the splitting of costs.

Get replacement cost hazard insurance along with an umbrella policy of at least $1M, probably double in your area.

But I would charge the extra 3% to cover my costs.

Granted there is a cost in hiring an agent, Having someone analyze each deal with localized knowledge is worth its weight in gold.

These are all upfront soft costs before you break ground. $300sqft to build at least.If you have any sort of mortgage on the property you will need an attorney to handle the mountain of paperwork the bank will give you for a lien release. 10k+, also probably some nightmare terms to have to build and sell immediately and god knows what.At this point a year has passed and you have spent at least $60,000 cash, you're about to break ground on a structure that will cost you at the very least $400,000 to build, you are still 1 year away from cashing out because you have to now build a house.

I feel like there's still people trying to make BRRRR deals work close to the city and the truth is it's nearly impossible given prices, rates, and the cost of construction.

The entitlements would cost 50k to do. we'd make 2 million on the land if we do the deal. stick to the same market and same asset class. we do urban adjacent urban infill for midrise in hotels and extended stays and apartments in Columbus Ohio. what market are you in?