BRRR or Sell? That is the question

[Richard Delbeau]

Hello everyone,

I recently came across an opportunity with my dads house and I’d like to get the perspective/guidance of more seasoned investors.

My father, is getting sick and is giving me the opportunity to take over ownership of the house in Miami, FL.

Currently the house is work $320,000 and he owes $180,000 on the House.

I'm wondering if I should take over and rent out the rooms, while utilizing the available equity to apply the BRRR method. Or, start from ground zero and sell the house and start from scratch with the monies made from the sale.

Thanks in advance,

[Harvey Yergin IV]

Richard - 

Sorry to hear about your father. It's always sad to hear about people with sick family members. I have a grand father in a similar situation and it's tough.

You're probably already thinking this, but the first scenario (renting) gives you a clearer estimate of your rate of return. If you were to sell and re-invest the sale profit, it may be difficult estimate your ROI.