We won't move into the house until the renovations are complete.Here are the details:- Home Purchase Price: $220,000- Renovated comps sell for $375,000 - $425,000- Renovation Budget: $60,000 - $80,000- Available Cash: $50,000- Household Gross Income: $145,000 (but daycare eats up $20,000/year)- Existing Debt: $0- Credit Score: 749The renovation will include the following upgrades:- (Contractor) New Electrical (first floor is knob and tube)- (Contractor) New plumbing (functional but has galvanized supply lines and bathroom needs gutted anyway)- (Contractor) New Gas Furnace or Ducted Heat Pump to replace oil furnace. - (DIY) Insulation/air sealing upgrades in attic and crawlspace- (DIY) Kitchen, Bathroom, and Laundry Remodel- (DIY) Refinish existing wood floors on main floor (and carpet upstairs if budget allows)- (DIY) Interior painting (and misc. drywall and plaster repair from other upgrades)The good:- Foundation is in great shape, house is level and square (as much as possible for 110 year old house) - Interior is bone dry with no rot or mold- Roof had a full re-sheath/replacement last year- Exterior siding is meh but in good condition with decent paint- Windows are original wood w/storms but well maintained with historic value.- Eventually we'll add a second bathroom on the second floor directly above the existing bathroom. - Some charming original details (porch, molding, doors, wood floors, fireplace)- I'm an architect by trade and both my father and father-in-law have construction experience and are willing to help with the remodel.What options do I have to finance this and do a significant amount of work myself?

I am blessed with great tenants but I still want to sell at market price ($335K-ish) because I lost my job and I am planning to leave the country to find job elsewhere.Since oil and gas jobs were hit hard and so many people lost their job, I am wondering if investors in Calgary are still actively looking to buy/ sell or just wait until the Covid-19 pass?

My goal is to start to build passive income through real estate investing so I can ultimately spend more time with my new son and step away from my current career in Oil & Gas, which isn’t quite as fulfilling as I was hoping.

I am lucky to have a friend that moved down to Houston that owns his own business in gas piping and he bought me this computer (an IPad) and paid for my private nurse that worked 40 hours a week for about 4 years and he probably still would be helping me but being in the oil business has hurt him.  

I am a former oil and gas engineer.

I recently worked in the Oil/natural gas industry for 3 years and was laid off last year at this time.

(You could be locked out......timing is very important).Some of the items in the file folder include;A skinny contract of sale...... this is a one page written in easy to understand language with only one out clause.A Hybrid contract of sale... a way to close more transactions by joint ventureA commercial contract of sale, 3 pages with special buyer requirements related to environmental conditions, existing suppliers, surveys, buried oil tanks and other conditions that must be known to make a profitable and safe transactionAn option agreementAn informational pocket pack with 52 options to financing and control a building without conventional financingBlank checks, pens, carbon paper, A list of referencesDisclosures for lead paint and other state or federal requirementsCell phone with camera to take pictures of the nice things and negative aspects of the property and to take a picture of the contract to email confirmation to seller and to your title company or lenderA gift, something for the seller to remember you by, I give Indian Head Nickels away, pens, note pads.Blank addendum forms  - these are used to attach to your purchase agreements (you don't want a lot of chicken scratching on your contracts; use them to write some of the following;1.

I don't want to overpay or get stuck with a lemon.

Doug Minton - Keeping in mind that he acquired most of his properties in oil depressed Tulsa in the 1980's and1990's, he was simply looking for rents to be twice purchase price. 

Was the hot water running off the oil furnace?