The challenge lies in managing renovations and the surprise costs that can come with them over time.New construction, on the other hand, tends to be simpler with less immediate maintenance and potentially better loan rates, but you may have to accept a slightly lower cash flow due to higher purchase prices.In the Atlanta area, there are several hotspots for new builds with great long-term investment potential, as well as older homes you will need to pinpoint which type to best advise here.Hope that helps streamline your decision-making!

I need money for renovations so i am looking to use the homestyle loan.

Is this for a DSCR loan or conventional?

Do I need an attorney to help structure the loan and details?

Purchase price: $740,000Using investor contributions and a non-qm loan, we’ve purchased a lake front home on Lake Norman, NC.

Because the homes were inherited and possibly has zero loans on them.

I summed everything up for the work completed, materials, and labor rate and adding 20% profit, which totaled $41K.

Also, make sure to get pre-qualified from a lender for which ever loan product that you wish to utilize so that you can shop effectively. 

I’m interested in talking to someone who has done owner builder loans for a rental or even a single family home for themselves.

Hello, Currently I am in the beginning stages of doing my first fix-and-flip with a Hard Money Loan and I am running into an issue with the Hard Money Lender and Realtors in the area.