First time investor needs some strategic help

[Ted Finn]

Hey all, I will keep this brief. I recently got into real estate investing and have found BP to be a great help. I have a property that I got under contract for what I believe is a great price and would love some advice on how to know when it's best to either wholesale it or keep it and fix/flip it. I'm sure the answer is nuanced and fluctuates in each scenario, but if there are any overarching guidelines or principles that could help, I would love to know that. Appreciate all the free advice on here and hope y'all (see, already fitting in down here) have a good one

[Joe Villeneuve]

Flip it when 2 things happen:

1 - Your total cash flow equals the DP (which should be all the cash you put into the deal).  This is when you have recovered all of your cost, and everything past this point is pure profit...unless you have to come up with more cash.

2 - When the appreciated equity equals the paid for equity (DP).

At this point, when BOTH of these events have happened, in any order, you  have reached the maximum potential for that property...and you should sell.  From that point forward, you start to lose money...and will continue to do so.