Buyers that can sustain that for 2, 4, 8 months are not typically inexperienced investors.We sold many properties with six figure income that had before tax losses - negative cash flow.

Brian Elam of Innovative Closing Solutions

Here is what the program allows to be fixed.Roofs, gutters and downspouts (no added value)HVAC, Plumbing & Electrical ( add 50% cost to value)Disabled person’s accessibility improvements (no added value)Lead-based paint stabilization (no added value)Mold abatement/termite repairs (no added value)Asbestos removal (must be done by a licensed asbestos expert) (nominal value)Basement finishing/remodeling (non-structural only) 20% of cost to valueSeptic system/well repair (no added value)Flooring (not including subfloor which is considered structural) (50% of cost to value) Kitchen/bathroom remodels (50% of cost to value)Painting (20% of cost to value)Weatherization (no added value but new windows adds 20%)Appliance purchase and install (50% of cost to value)Landscaping (70% of cost to value if fencing or front yard)Will he have equity to refinance in six months to do this in December 2021, probably not a sustainable plan.

I don’t want to keep internet service on in a vacant unit just for the door lock and when a tenant moves in they change the WiFi anyway.I’d be interested in hearing about remote solutions that don’t need WiFi access.I also don’t want prospective tenants in my units unattended.

Our solution for a smaller property was to install the DVR in a locked cabinet in the basement, running the ethernet cable up to the apartment above (when it was vacant).

At the individual consumer/investor and loan officer level, everyone is trying to run to DSCR as the solution to a problem. 

As long as you don't give up and keep exploring problems and solutions, you'll be just fine. 

However, the solution is not always to run out and get new deals - it may be to re-evaluate your overhead and focus on more profitable deals.

Hi we are doing a gut remodel in north jersey, we are most of the construction since we general contractors, we have already gutted the house, the house used oil furnace, we have planned on replacing with gas furnace, and installing mini-spits, however now that everything is exposed do you guys recommend perhaps another solution. 

I have a decent amount of cash on hand and currently a sustainable monthly income.