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Updated over 7 years ago,
Should she sell for 300% appreciation or hold for $200 cashflow?
My other coworker has a property that is vacant and they are rehabbing it for a new tenant. Her and her fiancé aren't sure whether they should sell. What do you guys think? Here are the details:
- purchased in 2009 on foreclosure for 118k
- currently worth about x3 that at about $350k
- just got rid of a bad renter; 5k in rehab with all their labor and time
- ^^ 15k rehab if they weren't doing it themselves
- cash flows about $200/mo with them managing the property themselves