Partner Driven financed the Owens Creek Rd deal using its own capital, covering the $250,000 purchase price and $20,000 in renovation costs.

In short , any rate/currency hike is causing liquidity crisis causing delay in ground up project even for project that was approved 2 4 years before the rate hike…. plus build costs/  profromas run 3 to 4 years ago are wildly in accurate

Construction lenders will look at the total cost and typically finance 75-80% of the project (right now its more difficult to reach the 80% threshold with market uncertainty).

I've seen burnt out units that didn't cost $35K to rehab. 

And also maintenance labor costs are up 30% to 50%.

Buying an existing place that needs upgrading might be more sensible but it will still cost a lot of dough.Plus the purchase of the catamaran.

The market rent puts all three together at approximately $2900 monthly.Now here are the details and costs behind the acquisition:Property taxes: $5000 yearlyInsurance estimate for all three: $3,300 yearlyC-class properties (not best location, their condition is about average - older properties)Purchase price: $250,000k$15k down and $235k seller financed at 6% interest for 30 years. 5-year PPP. 

It costs maybe 25-50 bucks per month and the servicing company will provide all of the required documentation for their new lender. 

Jonathan Klemm might be able to help.He runs Quality Builders, a tech-enabled GC business in Chicago with proprietary technology including tracking and estimating rehab costs.

You can always sell without an agent, but it could cost you more money and more importantly, money in the long run..think of it like this…maybe a strong buyers broker would’ve urged more caution with the initial purchase?