Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago, 04/17/2017

User Stats

70
Posts
31
Votes
Virginia Jones
  • Rental Property Investor
  • Pulaski, VA
31
Votes |
70
Posts

Hold long term as rental or sell now

Virginia Jones
  • Rental Property Investor
  • Pulaski, VA
Posted

A couple months ago I bought a foreclosure for $55,000. I've got a lease signed for May 1 at $750/mo. They are interested in buying the home from me. I work at a bank and if they qualify, I could get them a mortgage to buy it.

Once everything is ready, counting closing costs, I'll have spent around $11,000 rehabbing the property.

Would it make more sense to keep this house rented or sell it?

Appraised Value/Tax Value = $87,000

Purchase Price = $55,000

Rehab + CC = $11,000

Monthly Rent = $750

At what selling price would you all say it would be better to sell than hold?

Loading replies...