The whole project was quoted at 130k, with the major part to replace electric and wiring, install a AC in machine room. we just got to know from inspector the elevator failed the fire inspection because fire alarm control panel fail to comply with the current code.

Purchase price: $500,000 Cash invested: $700,000 This is a rehab project.

The layout had potential, the price was right, and I saw an opportunity to bounce back, apply what I’d learned, and finally have a smoother project from start to finish.

That's on top of holding cost.If someone flips a home and does not understand these two basic principal, they should not be in business in the first place.

Is it ok to pay half of the downpayment for a project upfront and the remaining half after specified scope of work milestones are correctly completed by the GC?

Updated Financials below: Sale Price: $131,250Seller Credit: $7,500Net Sale Price: $123,750Total Construction (Labor + Materials): $35,693.37Total Profit: $14,000All In Margin: 12.75% MarginWe are concentrating on higher price point renovation projects moving forward.

I located, negotiated, assembled the lending operations, and project managed the deal.

We are concentrating on higher price point renovation projects moving forward.

A traditional bank is not the best fit for this type of project.

New doors, drawer fronts, and hardware.Option 2: Pre-fabricated shaker-style cabinets.Countertops ($1,750):Laminate countertops.Backsplash ($600):Basic ceramic tile.Flooring ($1,250):Luxury Vinyl Plank (LVP).