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Updated over 9 years ago,
Switching from Rehab to B&H. Strategy advise is appreciated.
Hey Guys, I’ve recently decided to switch my investing strategy from rehabs to B&H. I look back and see all the homes I have rehabbed and wish I was holding those as a long investment vs a quick profit. My 9-5 is going great and I will be looking to buy for a personal residence sometime this year (150-200k). The plan is to house hack my way to a nice portfolio.
Currently in my market (Lansing, MI) I am having trouble finding duplexes in my price range that will benefit from any forced appreciation or rehab. I have found quite a few single family properties that would be great for a slow 2 year rehab but that is again going back to the wrong strategy.
I would like to stay in B neighborhoods since it will my personal residence and the fiancé probably wouldn’t appreciate me buying us a C area fixer.
My current idea would be to buy a single family for rehab and sell or refinance in 2 years and put the profits towards a fourplex or something similar.
What would you do in my position?