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Updated 9 months ago on . Most recent reply

User Stats

49
Posts
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Aubrey Ford
  • Investor
  • Atlanta
15
Votes |
49
Posts

Still new and learning.

Aubrey Ford
  • Investor
  • Atlanta
Posted

I purchased a SFH in probate that had a fully furnished in-law suite in the basement. I originally intended to rehab it and rent the upper 3/2 seperate from finished studio in the basement. Unfortunately I did not do the requisite due diligence early enough in terms of Zoning and I can not execute that plan.

If I rent it, it won't cash flow more than 2%, which is sort of ok as my goals is creating a portfolio of additional income for retirement (12 years from now)  If I sell it I will likley lose a little money ($5-$10k) 

I Used a VA loan to purchase zero down and will be living in it for 24 months while I do the rehab.

purchase price $330K, rehab $15k, Estimated ARV is $370k.

Seems like I should just accept a poor performing investment and wait. Your thoughts?

Most Popular Reply

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1,150
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Replied

You can see if it appreciated historically and then you can think its a good deal after 2 years of waiting for it to pay you back?

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