If we are making someone else the administrator make sure they are able bodied enough to carry out their duties as admin.

Three month hold 4.5% or 33,750Reno Budget $14,750.At this price point you can not use builder grade and would have a higher cost for materials.Originally posted by @Lawrence Michael:Investors...not sure how to advise my client.

Hello, I was wondering if others in Texas are currently having difficulty obtaining Builder's Risk coverage for flips / renovation projects.

@Jeff PlotkinIf it’s vacant, a Builders Risk policy would be prudent.

Does anyone know builders who could give me a quote for the project?

This could be a long post with a lot of detail that wold probably help, but I'l try to keep it concise.Not as much an investment question, but a problem with a builder.

I have saved up some money for that and want to make sure the numbers are not off before venturing into it.all markets are unique and Texas is at least for the lower value assets 150 to 300k pretty low margin area.. where builders just slam out the houses.. so if they make 10% on a 150k but build 100 of them a year.. pretty competitive there and you can build as cheap as anywhere in the country in Texas from what i see.. heck I pay more in building permits alone on some house than a builder in Texas will pay to build the entire structure :)  good luck. 

Knowledge will become the most valueable asset you have and you can start right now.Is really not about being Multimillionaire at 25 but more about being billionaire at 50 with a happy family, healthy body and mindset, a well balance life and time to do what you want.   

I think if you Google (NOT an endorsement of Google) AFFH pdf you can find something.What is mainly does (I'm not an expert) is add one more layer of "tools" to help govt determine if you're being truly "equitable" like1) Seeing if there are some unidentified barriers to lower-income applicants, then address the issue to fix it2) Look at things like what is/isn't considered qualifying income3) Making sure we don't put ALL affordable housing in the same neighborhoods.I don't think it impacts current owners as much as local govt that OKs construction and the builder/developers brave enough to try new construction.

That being said you can find out what's hot by studying the market and what the new home builders are doing and the types of materials, colors and finishes they are using.