Contractor buddy would be spending time fixing up the house in many cases himself instead of using a crew, how do you account for that vs effort which I will put on design, managing project, purchasing materials, brining in the capital etc.

Hello All,I just completed the purchase of a property in Port Hope, Ontario and will be doing renovations to make it a 2-unit dwelling.

That's why it's important who you actually set yourself up with to bring  value to your projects.

@Taylor Zad I have discovered that prospective tenants have tunnel vision and do not have any sort of eye to what a property will look like when it is renovated.

I currently have a unit that was rented 10 days prior to the tenant moving out and the new tenant is living with relatives and will be waiting until we do a total renovation to move in.

Bought a previously renovated Side by Side Duplex.

Additionally, I am prepared to offer either a first position on the loan or cross-collateralize with my portfolio of seven vacation rentals, valued at approximately $12 million, with $6.5 million in available equity and generating $1.4 million annually in gross rents.Given the potential of this project, combined with my experience and the collateral available, I seek advice on approaching potential lenders or investors and effectively negotiating terms within such tight time constraints.

I do not want to self manage this property, a manager at 40k/yr will be about a 30% expense to the noi after the value add project is stabilized.

Here's a generic bid sheet for a basement finishing project.

Our biggest pain point was buying a home that needed significant renovations that took too long.