., kitchen and bath updates)Heavy Rehab: $60-$85 per sq. ft.

I tried to post an "update" to my original post, but looks like I don't know how to use this feature.PPS.

A moderate 80s update in Houston may not match Indy, so leaning on someone who knows the local buyer pool can save a lot of back and forth.All the best,Johnny

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.

.: Cannot go back…but here are some things I wished I had known about sooner.I wished I had realized I could have gotten bank lending even without a regular W2 job.Understood DSCR better sooner.I wish there was a couple of houses I had not bought.There are some houses I wish I had not sold.Just all basic stuff that a person can’t go back in time machine and change.As time goes on, I probably would update this list several years out.

I got good at estimating renovation costs by making an initial estimate based on photos/walkthrough, drawing up a model like you see here, then once the project is finished, go to accounting, get the actual expense report for that property, and update the model.

We have an addendum that we serve if this occurs that essentially gives notice that the home has been abandoned, and if we don't hear back from the tenant in the prescribed period we will take the property back per state code.Check to see if Georgia has this same thing.Then update your leases to include this for future tenants.Or find a rental association that provides leases with these baked in.

Quote from @Daniel Park: **Updated Links*Quote from @Daniel Park: There is alot of Real Estate Investing Education Platforms Out There and I'm Pretty Sure they All Provide Great Information however the Value and the Complimentary Lifetime Access to Current Updated Information on Real Estate Investing and the Investor Community Support is Spot On.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

Painting walls, updating fixtures, or handling minor repairs yourself can save thousands upfront.Consider Your Exit Strategy: You’ve got the right idea;house hack for 1-2 years, then convert the property into a long-term rental.