It also goes a long way to incentivize the agent with giving them the listing on the back end so he brings you more deals.How we financed the purchase of the property:Worked with a hard money lender and private lenders to borrow 90% of the purchase price and 100% of the rehab.We paid 12% interest and 1 point which is 1% of the borrowed amount.Construction funds are released in draws as we make progress with renovations.

Hi BiggerPockets Community, I am about to sell my first renovation project where I remodeled the basement into another living space (there is also a separate entrance to the basement). 

@Alyssa Mccourt Depends on the buyer or investor.If you are planning medium to major value-add renovations and rent bumps, AND the property is smaller in size, under 4-5 units, then taking an empty property can vastly speed up your renovation schedule.

I’m thinking of moving back in 2-3 years and have been contemplating adding an addition up and out before renovation prices get crazy in the area but still want to keep the income.The house has 3 bedrooms and 2 full baths and rents for $2200. 

.$10 per ft= light renovations$20 per ft= medium renovation$30 per ft= Heavy RenovationsWhat is an A-B contract?

I would eventually like to do another 203K renovation in a 3-4 unit property, in which I would owner occupy the new property.

Purchase price: $26,000 Cash invested: $90,000 Renovated unit from SFH to 4 units.

It was a flip so one unit + basement was renovated (vacant at purchase), the other unit was outdated but rented.

The property could use some light renovations so ideally the tenants will move out so the investor can put some work in and add some value.

We are currently working on another house a block away that will be a 4bed/3bath w/ 1800 sq/ft and in the last year, 3 full gut Renovations on the same block have sold for 475k, 465k, and 450k.