I was the main contractor when my house and apartments were built, so I am very familiar with the construction/remodeling phase of the project.I currently have a 4 unit multifamily apartment building that is debt free and fully owned that I would like to use a collateral ($225K Appraised Value )to get a loan to begin my project. 

But to me there’s no way the project can be successful if it’s bought above my bottom line number, unless folks have $15/sqft - $20/sqft construction budgets.

I’m an investor in Atlanta Georgia  and I’m used to getting rehab quotes from GC’s that are between $35/sqft (not too much walls need to be moved or roof or anything) to $65/sqft (everything needs to be done) to $85-$100/sqft (new construction or additions).I read about and have ran into other investors who say they can do a full rehab project for about $15/sqft !!!!

Fun project but a TON of work.

Personal Savings (automatic contributions and dedicated for fun/non investing items such as vacation and personal residence projects)We really like Ally and the APY is much better than traditional savings accounts- currently 1.90% APY.

I was just wondering whether most investors find the deals first, get it under contract, and then find funding, or if they find funding first and then find the deal to get under contract.So far I've had a few other potential JV deals approach me and it seems like most people are getting deals under contract first and then reaching out for funding, but I'm wondering what happens if the investor has a deal under contract but fails to find sufficient funding for the project.

@Christine Kankowski so there are very few things you would do on investment projects that would be worth routinely getting a permit?

He was immediately on the phone with two neighbors accross the street with pickup trucks and yes he was out the same day, signed the agreement with keys returned and then I gave him the cash.For you, you could project the cost per day in rents not received multiplied by the amount of days he will be there with the court date & Sherriff serving the eviction and offer the tenant a percentage of that cash in his face and see if he takes the money and runs, freeing up the apartment.

Not knowing the eviction rate at a property can throw a massive wrench in your business plan and return projections during the first few years of ownership.

Numbers are as follows....This is my first deal and am looking for some more experienced guidance.Monthly Gross Rents: $3700Laundry & MISC: $100Annual Scheduled Income: $45,600Vacancy 2% & Loss: $1000Gross Income: $44,600Expenses:Taxes: $10,000Insurance: $1500Trash: $600Lawn Maintenance: $800Snow Removal: $500Gas: $500Electric: $1300Cleaning/Janitorial: $900Repairs: $1000Turnover Replacements: $1500Legal: $300Total Projected Expenses: $18,900Projected NOI (before debt service): $25,700