Should i Flip or rent?

[David Esslinger]

I have a house 3/3 I've got about 50k into it original plan was to brrrr.

It sits on 5 acres has a small pond. I'm skeptical about renting it only because I don't want "users" to be attracted to the privacy.

So I'm thinking I should flip.

Paid 140k have 50k in

Wanna sell for 250k

Advice

[Scott E.]

There are benefits to either option. This is going to come down to personal preference. But here are a few things to consider:

-If you renovate and rent, you can hopefully screen out the 'users' via a background check, credit check, employment check, and just using a good judge of character. Won't guarantee you will have great tenants but you can increase the likelihood you will have great tenants.

-Think about where you see this market headed in the next 5-10 years. Is the population growing or declining? Are there a lot of job opportunities nearby? Is there a lot of residential and commercial development happening? The answers to these questions will help you decide if you want to own this property as a rental in 5-10 years.

-If you really can sell for $250k and you only have $190k into it, you'll walk away with a profit of around $45k after closing costs. How long would it take for this property to make you $45k if you held onto it?