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Updated about 5 years ago,
Rent or Flip how to Decide
Newbie here.. Just found this site a few week ago and love it!!
Looking to get input on how those that rent and flip determine which one you are going to do for a given property.
I purchased my first rental in August for 100K put 10k into it and figured I would not get enough in profit for a flip so I decided to rent it out. Mortgage (with escrow) is $ 655 month and rent coming in is $1350. So not bad. I have not put a bid in for another house same area for 60k with estimated repairs/update around 10K to make it a nice rental ($1350-$1400 rental potential) maybe 20K for a nice flip. The homes in the area go from 100-150K
Terry