How did you decide?

[Peter Smith]

How have you chosen if you want to do a flip or rental? Do you typically decide before starting the project or after the house has been rehabbed? And is the type of rehabbing different depending on if it is a rental or a flip? My initial goal was to rehab and rent out, but I can see the allure of collecting the profit upon the sale. What are your thoughts?

[Franklin Romine]

I owned 20+ rentals before I even considered flipping or selling a single property.  I'm wired for passive income.  Once I had a balance in my income I started flipping more.  Even now any extra cash I have I need it tied up into rentals.  There like some rental demon in me telling me to park cash in rentals.  

On your question I would only hold the property if the cash flow supports the expenses of the property.  If your gambling on appreciation then I would have other sources of income.

Today right this moment flipping and a pile of cash is cool.  What's cooler is being older chatting at a cocktail party about all the dam rentals you still own....

Frank