two possible deals...

[Merideth McNamee]

I have two possible deals I am considering for my first investment. The first would be a flip. It is a duplex in a 55+ community. It is a 2/2, 1250 SF, and only requires cosmetic updates (flooring, paint, popcorn removal, cleaning etc.) I estimate the rehab at about $10,000. I hope to purchase it for $200,000 and sell for $250,000. I am an agent so RE fees will be low. I estimate my husband and I can do the majority of the work in about 4 weeks, but I am planning holding costs for three months. Properties in this price range are starting to move very quickly in Palm Beach County.

The other deal I am considering would be a buy and hold. The property is 2 small homes on a canal lot 3/1 & 1/1). Both are currently rented until later this year. There is no HOA so eventually I could turn them into STR due to busy fishing season in the area. However, properties are much farther away so much harder to manage on my own. Again, I'm the agent so I would manage properties and find tenants as needed. Properties are currently cash flowing about 800/month (according to current owner).

I welcome any and all thoughts and suggestions! Thanks