Distressed property but did not need major renovations How did you find this deal and how did you negotiate it?

I’m open to talking about the renovation process for fix and flips or BRRR properties.

This approach will help minimize the potential financial risks associated with renovations and working with contractors.

,Buying, renovating, and selling is a great strategy, but here are a few things to consider:Start with the Numbers: Make sure you know your ARV (After Repair Value) and work backward to calculate your budget, including purchase, renovation, holding, and selling costs.Financing Blindspots: Even if you’re buying in cash, plan for potential delays or overruns in renovation costs.

@Adam OrtizRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If I do the renovations, probably a bit more, though I’m not sure how worth it that would be.

Open a business credit card and do your renovations on that (for things that you cannot get financed with a hard money loan).

The top unit and rest of the townhouse is completely unliveable without renovation, the only liveable spaces are the two studio apartments that the tenants live in.

Unfortunately I had a bad inspector who missed a lot which made it about a $60K renovation instead of what I planned for which was $15K.

It took a long time and renovation to get it back to where it was.This is our first investment property and it’s just gone so poorly.