Updated over 8 years ago on . Most recent reply
Just got a property in Contract now what should I do
Hello BiggerPockets Family,
I just got a property under contract in sacramento,ca. This is not a area I typically invest in, but hey when a deal lands on your lap I am not the one to pass on it. So the numbers are purchase price 120k, 35k fixup and arv is 205k. Would you flip this deal or keep as a rental? Some thoughts floating around in my head.......I realize the market isn't going to stay hot forever so If I do keep it as a rental I would eventually flip the property in a year to a year and a half and sell somewhere in March or April. I also don't really want to flip it because I am in a high tax bracket and a straight sale would take 1/2 the profits. I know first world problems! Other issue is i don't have anything to 1031 the property into so unless someone on here has a multifamily they have that needs to be fixed up and wants to sell I am stuck.Would like to hear some opinions. Thank you!!!