I would also increase your underwriting rehab estimate number by 15-20% since most renovations go over budget.

While it is nice of her to pay the rent for her adult son, she shouldn't be paying rent for two places as it is clearly stretching her budget.

Their budgets are HUGE [I've seen up to $10K/monthly a furnished home].

Does anyone have any excel/spreadsheet templates they use for organization and having a place where you store that budgeting and timeline information?

Here are some common pitfalls I see for new investors from the private lending perspective:• Insufficient Funds: most lenders are going to be able to lend a first-time investor somewhere around 75-80% of the purchase price of an existing property + 100% of your estimated rehab budget (or an 80/100 loan, for short).

Eliminate debt, establish a budget, and save.

Everything he teaches about personal finances (budgeting, car loans, credit cards, etc.) is spot on.

Knocking off $4k for that additional bathroom let's say it's $170k ARV, looking at this for a flip and using the 75% formula and a $120k buy price that only leaves $7500 for a reno budget - I'm no expert but I'm pretty sure it'll take more than that! 

For fix and flips, the best finishes depend on the neighborhood, target buyer, and your budget.

Through PHA sources, the article indicates the renovation will cost $112M, twice the initial budget.