Find out well in advance if your project is even a candidate for refi.

This may be a complete demo project but there is a lot of equity.

Hi all, we are looking into doing BRRRR in Lehigh Valley area (mostly likely Easton), and one piece of advice we got is that we should line up a local bank before going into projects.

Budgeted $40k with my contractor but $50k in my financial analysis, so yeah, we should be able to cover this one...everything you read says you will make mistakes, no matter how much practice and prep and mentorship.

@Jason DiClemente You can use their deal analysis tool and download Pre approval letters whenever you want off the website.

Newbies never factor this into mind when doing their initial Day 1 analysis. 12% cash-on-cash return on Day 1 will NOT be 12% in Year 5 (probably)!

I've not pulled the trigger as yet myself, as I have no idea if rehab project management is included.

We plan to start with a small project that needs estimated repairs of no more than $10k -$20k.

https://www.zillow.com/homes/for_sale/60649029_zpid/3-_beds/2-_baths/0-130000_price/0-474_mp/36.9289,-75.980244,36.703522,-76.280994_rect/11_zm/The address is 6030 Margate Ave, and it is near Lake Edward.  It is a 3/2...

Also I gave the sellers a market analysis on what it would sell for if they decided to list.