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Updated over 10 years ago on . Most recent reply
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Fix and flip rent or wholesale
I'm trying to figure out if I should flip or rent or whole sale. My mind is saying flip or whole selling. Long story short. It's a 2 1 condo that I bought as a short sale. I have an opportunity fix and flip. I want to buy the second unit wich is a 3 1. I don't want to use any of my own money. So I don't know what strategy to use
Thanks for using the monthly payment calculator on the Zillow iPhone app.
Total Monthly Payment: $500
Principal and interest: $339/mo
Taxes: $94/mo
Insurance (homeowners and mortgage): $67/mo
Assumptions
Home price: $100,000
Down payment: $30,000 (30%%)
Interest rate: 4.128%
Property taxes: $94/mo
Homeowners insurance: $67/mo
Mortgage insurance: $0/mo
Loan term: 30 Years
Hoa: $175
Rents for about $1200