flip, hold, sell or none of the above

[Elvia Morales]

I was able to get a single family home under contract for 207,500 ARV 300,000 rehab 25/30. I'm getting a 5.875 interest rate taxes $8700 and insurance $900. The numbers made sense when taxes where $4700 for rental. Unfortunately the $4700 was with tax exemption I will not be getting. I believe I can get $2500 as a rental because of location Bolingbrook, IL. I would like some feed back and thoughts.

[Marco Anemone]

@Elvia Morales, is your intention to flip it or rent it? How many bedrooms? Is it in 60440 or 60490? Rental numbers may be a little tight in the short term but over time your rent will increase while your loan principal and interest payments remain the same (assuming your loan is fixed rate for the entire term). Regrettably taxes and insurance are still likely to increase.