They couldn't get a construction loan and were constantly blaming the cities being tough on their permit process.

Also, with a VA assumable, if the one assuming the loan is not a veteran, then the seller (veteran) entitlement will still be tied up in that property.

If you’re paying off less than $800/mo on your loan id say sell come April selling season.

I financed the deal with a conventional loan and bought down the rate from 7.75 to 6.25.

For those who’ve used it, what strategies or sources have worked best for you when covering the difference between your loan and the total project cost?

Interest rates decreasing a little more will be necessary to make this possible, too (DSCR loan).Also I will have another deal refinanced by then and gain about $70,000 of capital from refinancing that.

If it is a good business with a hard to finance issue, he'll work with the loan team to figure out how to lend to them.

I know how to use the basic features of QBO, as I do my own expense tracking, but my Bookkeeper is needed for the more complex entries (Loans, capital balances, reconciliation, data entry from PM monthly statements.)I spend almost 8k per year in QBO and Bookkeeping costs (Not including my accountant or tax prep.)

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

The cause of the 2008-2010 Great Recession was bad real estate loans - if you could fog  a mirror, you could get a mortgage!