Currently, I'm working on my fix-and-flip project, diving into renovation and value-building with excitement and dedication.

Hey Chris,Congrats on wrapping up renovations and diving into rentals on Cape Cod!

It’s in a trust there’s no mortgage value $650-$700 wanted to take out $150,000 for renovation and down payment on another rental. 

Maybe renovation costs get blundered so the spread is too weak, but the appreciation and refi potential is there.

Hi Leslie,We ended up financing through Brown Equity out of AZ on a No Interest renovation loan with the plan to roll into a longterm loan after the renovation.

Learn property management, analyze rental demand, find high-quality tenants, and budget for renovations and repairs.

And once I complete renovations, I will apply a CapEx rent raise.  

I will pay for the the renovations myself after I buy it.

@Scott ChampionRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

IF you were to renovate a non-conforming unit, that unit would now need to be brought up to code.When or if you rent out the unit, you, of course, run the risk of the tenant calling the city and saying the property isn't up to code, which would, in turn, cause an inspection by the city and likely result in some violations that would require you to bring the unit up to code.These types of units are ALL OVER the city of Chicago and be rented out on a daily basis, but there is still clear risk associated with renting them out.