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Updated about 5 years ago,

User Stats

10
Posts
3
Votes
Terry Ingram
Pro Member
  • Rental Property Investor
  • Waukegan, IL
3
Votes |
10
Posts

Rent or Flip how to Decide

Terry Ingram
Pro Member
  • Rental Property Investor
  • Waukegan, IL
Posted

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

  • Terry Ingram