The house we live in is a cute renovated victorian that is close to everything.

Numbers :)303k purchase365 sale leaves you with 62k- realtor at 6% of sale = $40,100- closing costs at ~5k = $35,100- renovation at 8k (suspect) = $27,100- taxes @ 500/month for 4 months = $25,100- insurance @$150/month = $24,500- mortgage payment @$1200/month (20% down, 4.25%) = $19,700- utilities @ $250/month = $18,700Skinny deal.  

I hope that I can use this site to network and identify contractors that I can work with for renovation and repairs.  

IRA - I have a significant sum in my retirement fund and could easily tap it with ERSOP conversion even 15% would be enough to fund a duplex purchase down payment and renovation.

Our strategy is to generate significant long-term cash flow and worth by generating equity in each renovation so that we can cash out as much as possible from each unit and use it to purchase other properties.

Comps around that area for renovated homes go around 105,000.

Comps around that area for renovated homes go around 105,000.

  :)    Luckily the demand for rentals is just as heavy so rent has been increasing as well.  2 Bedroom houses that used to rent for 650 are now renting for 850 with the proper renovations.  

I am an investor and I am always looking to buy houses to renovate and rent out to build my rental portfolio.

$10,000 more and how long is it going to take you to get even with that renovation?