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Updated over 8 years ago,

User Stats

6
Posts
3
Votes
Gary Black
  • Irmo, SC
3
Votes |
6
Posts

To flip or not to flip

Gary Black
  • Irmo, SC
Posted

Hello BiggerPockets,

I have a house that I purchased for $68K here in Columbia SC a 3/2 one car garage and I have put in about 10k-12k out of pocket for repairs. New flooring, carpet, granite in the kitchen and new solid surface vanity tops in both baths, all new appliances, new paint, new carpet. All the things you would do to flip a house. I funded the house with a HELOC at 4%. My intentions were to flip the house and move on to another. But after looking at the neighborhood and how nice the house is now, I am not sure what to do. I feel like I can rent the house for between $1000 and $1200 per month. But with the upgrades I think I should be able to sell the house for around $135,000. What would you do??? Flip the house or hold it and use it for another equity line to purchase other homes? Any thoughts would be a great help.

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