All Forum Posts by: Dylan Haines

Hey Aidan, thanks for the input. What are advantages toward doing hard money, rehabbing, refinancing to conventional. Over just conventional, rehabbing with my own money, then renting? This unit is in one of the older buildings downtown and I’d love to keep it in my portfolio I’m just worried about all the new construction flatlining prices. 5 and west, Austin proper, independent, 44 east. On one hand I feel that means demand is there but on the other more supply means prices drop. I’m so torn between flipping or holding 

Or should I do hard money still instead of conventional then refinance after I rehab and rent it out? 

I'm in Austin, Texas. So cash flow wouldn't be ideal but I do think based on all the people moving here it would appreciate a fair amount as well. 

Will rent for probably $2650-$2800

An opportunity came up. It is a condo in the city downtown where I live. I sold the same floorplan 4 floors up for 400k. It is a 2 bedroom 2 bathroom, 850 sq ft unit. I could purchase the same floor plan unit but in total disarray for 280k. It needs new floors, counters, appliances, paint, bathrooms. Literally everything. I figure I can put about 25-35k into it and it will be worth around 390-410k. 

That said I don't want to just flip it. I'd like to use a conventional loan, rehab it with my own money, then rent it out and cash flow like crazy. It is in a great zip code and will appreciate a good amount every year. Thoughts? Advice?