Landlord Question and Answer Forum
First time investor...Please give me your opinion on my dilemma:
I bought a forclosure house for 10k in cash and i have put 5k into renovations.
It's a 2 bed 1 bath and i can rent it for $750/month or I can sell it for probably around $50k (in order to sell it quickly).
What do i do? Thanks, Brent
brent c, OH on Monday, January 16, 2012
RE: Rent It or Flip It? Please Help!
If this is your only investment property I would flip it and buy a couple more with the money you made. Maybe buy one for a rental and then buy a second one to flip. This has been my approach and in just over three years I have four rentals that are paid for.
Posted by
Ryan O, MI
on
Tuesday, February 7, 2012
RE: Rent It or Flip It? Please Help!
Note: assuming you can sell the house for $50K, the actual profit will be about $15K-25K due to taxes, etc (50K - 5K - RE Fee - Taxes - ?). What to do depends on your situation: do you own or rent, married, children, etc.
Posted by
Bob R, CA
on
Tuesday, February 7, 2012
RE: Rent It or Flip It? Please Help!
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Posted by
tomselec7 t, BC
on
Saturday, June 9, 2012
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