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Updated over 11 years ago,
What would you do?
I am a 25 year old Realtor and recently purchased 2 homes for investment purposes. Both of them were bank repos and are located in a great area. My goal was always to get as many rentals as possible.
House #1 - One of the bigger homes on the street but needed some work (new flooring, fixed up the kitchen, and A LOT of minor work. Purchased $65,000
House #2 - average sized home on the street but it is in mint condition. Original refinished hard wood, granite counter tops, etc. Purchased $63,000
I could rent both of these pretty easily BUT I could also make a decent profit if I was to sell them both as homes in that area sell between $85,000-$115,000. I personally think I could get around the 100k mark for each home.
What would you do, rent or flip?