The HML covered 100% of the $32,500 rehab budget through drawbacks.Refinance: Post-rehab, I refinanced into a primary mortgage, creating 25.5% equity in the property.Future Financing: I plan to leverage the property with a HELOC to access up to $86,000 in capital for future deals.

Sounds like an interesting project but I am sure there is more to the story.

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

You've given me some solid pointers/items to take into consideration for future deal analysis, so thank you for that.

We are looking to building some fourplexes in the near future in the area - when you say expand your portfolio - what are you looking for ?

While some lenders may offer it, these scenarios often require near-perfect alignment of high DSCR ratios (1.2x+), excellent credit, and property cash flow projections that are difficult to meet with this leverage.

Is it only the duplex that you were projecting to live in for one year or either one for one year? 

I want to know if there is anything I can do right now that will help me in becoming a realtor in the future.

Thank you and to you as well with your future endeavors. 

Hi Everyone, My name is Moustafa and since my wife and I just got married we are looking more into our future to be FI.