I'm looking forward to discussing investment strategies (traditional and fringe) with many of my house-hacking friends and peers over the next few years--especially in the Green Bay region!

Here’s the situation:Key Project Details:•Property Size (pre-renovation): 250 sq. meters (2500 sq. feet)•Purchase Price: 250,000 EUR (1,000 EUR/sq. meter)•Renovation Costs: 750 EUR/sq. meter (includes kitchen, appliances, quality furnishings)• Loan costs (during renovation and renting): 350 sq. meters (due to attic expansion)•Property Size (post-renovation): 350 sq. meters (due to attic expansion)•Post-Renovation Layout: 2 separate apartments•Airbnb Income (24 months): 2,500 EUR/month/apartment (= 5,000 EUR/month)• Other running costs: 600 EUR/month•Projected Sale Price (after 2-3 years): 850,000 EUR (approx. 2,500 EUR/sq. meter)•Closing Costs: Negligible in Tbilisi•Real Estate Agent’s Fee: Typically 3%, but negotiable based on who hires themFinancing Setup:•Property Purchase Financing: 100% bank financing at 5.9% interest (bank has even financed 150% to cover some renovation costs in the past)•Renovation Financing: Our friend is offering to finance 250,000 EUR in cash for the renovationsProposed Partnership Structure:•Work Involved (on our side): Full renovation (10-12 months to complete), furnishing, and property management through Airbnb until the sale (2-3 years)•Profit Split Proposal: 60% (us) / 40% (friend providing renovation financing)Questions for the Community:1.Does the proposed profit split (60/40) seem fair, given the work we would handle (renovation, furnishing, property management)?

Fast forward to March of this year and we purchased a single family home to also STR in Asheville, NC. 

Where you purchase a property that needs some work, live in it for 2 years, fix it up (either DIY or hire contractors), and then refinance & rent it out.

Hello BP friends, I purchased my primary residence a couple years ago and it is on a double lot.

I started with BP in 2005, upgaded to pro 2007, Featured Agent 2 years ago. 

I am small time though built about 300 homes in the last 7 years or so.. 4 developments and spot lots in Charleston sc and  Ocala FLA ( Fla was not worth the effort for us)..

Guru #3 is "financially free from W2 job" from doing OOS BRRRRs in less than 3 years, scaled to 21 units in one year and now at 35 units.

Total cost materials only was approx 50k, that's 10+ years ago.

Potential Advantages- Growing Housing Market: The median home price in Shelby has increased by 16.6% year-over-year, reaching $295,000 as of July 2024.