When to turn flip into a rental

[Kwame Darko]

How long would you typically wait for a flip to sell before deciding to potentially refinance and keep it as a rental. Listed a flip in early December and although it has received some attention (atleast 1 showing a week) there has been just 1 low ball offer. The house has been remodeled pretty well with an open concept, granite counter tops etc. I know that the time of year was not the best so that maybe a factor as well. It will cash flow about $100-$150 A month.

[James G.]

@Kwame Darko It really depends on the overall situation. Without having too much context, I would say if the loan is approaching its maturity date, and you don't have much hope of selling the home within that time, your options are to either renegotiate with the lender, or refinance the property. If the property is going to cash flow, then it looks like you're not going to lose either way on this one - you are fortunate! Hope this helps