Purchase price: $15,000 Cash invested: $6,500 Sale price: $29,500 House was contracted, moderately updated, and sold for a quick profit.

They will also tell you it must be inspected and depending on the inspection they can make you rip it all out or just update certain things. 

I’ll update the post once we get through the off season and report back if it has any negative affects on the business.

The value add was through the rehab that consisted of a new roof, updated the fuse panel to a breaker panel, new LVP flooring throughout, minor bathroom updates and paint, repainting the entire interior, adding new hardware and paint to existing kitchen cabinets along with new countertops and sink, new stove and rangehood, and lots of overall minor deferred maintenance.

The property is all updated, clean, ready to move in. 

.* Loads of updates: 2019,Basement refrigerator, 2018 newfurnace and AC, 2009 new roof.No pets allowedTenants pay utilitiesLooking for either October 15thmove in date or November 1st!

Weekly updates of budgets, project updates, etc.

A GC will typically have a google folder with photos to update you on progress but nothing beats physical quality control inspections.

Now you can sit back and wait for the cash flow to start rolling in.Depending on the particular deal, you may receive either monthly or quarterly cash flow distributions, and they may start immediately, or not for a few months.Regardless, you should start receiving monthly updates as soon as the deal closes.

Quick update: 10 yr fixed would revert to prime at the end of ten years. 30 yr fixed rate came down to 4.5% with no points.