In the  future - never  pay an application or engagement fee   when trying to  get a home loan or a  reseideential loan  

Many investors in NY like the idea of house hacking because:- They can invest with a low down payment (similar to what a 20% down payment would be OOS)- They gain hands-on acquisition, project management, and property management experience.

If rates become more favorable in the future, we'll have an opportunity to refinance.Why we bought itThe 55-unit I mentioned earlier is a perfect comp for us.

Do you mean it would need an architect because that's required by the jurisdiction, or because the project itself would need an architect's expertise?

if your projects were profitable, why not find other investors and pay them the loan and move on? 

Happy to send over some referrals - some are better for big rehabs vs small cosmetic vs subcontractor only projects.

I’m looking to invest in nearby areas, focusing on fix-and-flip projects and new ground-up construction.

Would love to hear an update on your progress @Bree Jimenez  did you move forward on a project?

Your rate will be higher than current, but give you your cash out to use for future opportunities. 

Local PM here - we have multiple development projects we are gearing up to sell, both small multifamily and townhouses should you want to take a peak at them.