For a "Professional" developer, defined as someone with 24 projects in the last 3 years, the minimum score drops to 660 and the down payment is only 10% with a 9% rate and 1.0% fees.

Example: invest in syndications / short-term rentals / oil & gas wells / solar projects / conservation easements, and so on, due to the tax losses they generate.

It will undoubtedly cost far less than giving up project upside. 

For those of you actively working on fix-and-flip projects, particularly in dynamic markets like Houston, I’m curious about your approach to navigating today’s challenges.

Between the contractor that scammed me and the break in, this project has gone on for about five months longer than it should, and I have depleted my savings making the interest payments all the way up until I have zero money. 

Quote from @Deborah Wodell: Hey everyone,When it comes to fix-and-flip projects, the down payment and closing costs can add up quickly.

Stick to a budget, align with local trends, and consider DIY projects to maximize your ROI.Good luck!

At the time there were limited 3 BR rentals in the neighborhood, but achieved such high rental rates the properties ended up performing better as rentals than as a for sale project.

That's not everyone - some legitimate players may just be short on cash because of projects (I've been there) - but it is a lot of people. 

Sold on 11/22/2024 for $110,000, this project highlights our strategic approach to revitalizing homes and delivering exceptional returns for our partners.