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Updated 9 months ago on . Most recent reply
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Still new and learning.
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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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?