Do I sell it or rent

[Chris Wood]

Sometime last year I bought my first major project. I am finishing the details but should be done by the end of this month or next depending how things pan out. My question is, normally I am a buy and hold guy, however the numbers are making me question what I should do. This is a house in Greenwood, probably a B area and close to everything. Great neighbors, including one who is a friend. 

Numbers

bought for 20k

Rehab 30k to 40k 

all in 50k-60k max when it is done

Everything will be brand new (at least all of the capex stuff). My guess is the ARV is 100-110k. Rents in the area are going for 900-1000. I currently have 2 different people who want to move in to rent (one is already a current tenant).

Knowing that expenses are about 5 years out, would u rent and then sell or sell and repeat this process when the next one pops up? 

Feel free to give any and all insight, I am trying to figure this one out. I am normally a buy and hold guy but I am struggling with how I could reinvest this money to make it work more and make more profit…..

[Mark Gallagher]

@Chris Wood

Sounds like it's in a great area. I would think holding makes sense if the neighborhood is going to continue to appreciate.

Or you could try a quick listing say 2 weeks, and see what happens. If you get your magic number, you sell it.