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Updated over 5 years ago,

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3
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Kyle Leto
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3
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Beginner investor here

Kyle Leto
Posted

I purchased my first single family home back in January and at that time I didn't know about the BRRRR method. I initially was intending to live in it for a year and sell it and purchase something bigger and continue to do live-n-flips. Now I'm not sure what to do and am looking for some guidance since this is still new to me. I purchased the home for $119,150 after fixing it up the ARV will be between $190,000 - 200,000. It was Fannie Mae owned so my closing costs were a bit higher being at $11,800 and I've put $20,000 into it to fix up. Since this is my first purchase I only had to put down 3.5%. Should I refinance it and rent it out or should I sell it and use the cash for a different purchase to BRRRR? Thank you!!

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