How will this affect the loan if we come under budget?

Then, you'll need to budget for leasing commissions if you're paying a broker, and any concessions to your new tenant - like tenant improvement allowances and/or free rent.

A few more things we learned:-How to make informed decisions about the location, type, and features of a home-How to budget-How to compare mortgage rates and terms from different lenders-How to negotiate

A few more things we learned:-How to make informed decisions about the location, type, and features of a home-How to increase the value of a home through renovations and upgrades-How to budget-How to compare mortgage rates and terms from different lenders-How to negotiate

Purchase price: $455,000 Cash invested: $7,000 House Hacking Owner Occupied * In- Progress *Asking Price: 459,999 Rehab: $5000VA Loan 0% Dow* SELLER PAID CLOSING COSTS AND $15K IN REPAIRS, NO MONEY OUT OF POCKET*RENT BY THE ROOM STRATEGYPITI: $3060Rent: $3500 ($875 per room, utilities, Wi-Fi, and Security System)* Current Project: 300 SQFT ADU *ADU Rent Estimate: $1800 (Includes Utilities, Wi-Fi, Security System, and private entrance, yard, and parking)Construction Budget: $20k (Structure is already existing, more of a conversion) What made you interested in investing in this type of deal?

Purchase price: $455,000 Cash invested: $7,000 House Hacking Owner Occupied * In- Progress *Asking Price: 459,999 Rehab: $5000VA Loan 0% Dow* SELLER PAID CLOSING COSTS AND $15K IN REPAIRS, NO MONEY OUT OF POCKET*RENT BY THE ROOM STRATEGYPITI: $3060Rent: $3500 ($875 per room, utilities, Wi-Fi, and Security System)* Current Project: 300 SQFT ADU *ADU Rent Estimate: $1800 (Includes Utilities, Wi-Fi, Security System, and private entrance, yard, and parking)Construction Budget: $20k Structure is already existing, more of a conversion What made you interested in investing in this type of deal?

I think my budget was at max 700k.

Hi @James Honeycutt How much of that $300K do you plan on using for reserves for new property as well as in case the flips take longer and/or go over budget?

As home prices rise and interest rates rise (even if nominal and still below historically numbers), individuals budgets are being maxed out and they are forced apartment rents.

With that budget you can buy anything you want in this city, and there are some higher end properties that do really well.