I need advise in a property SELLING or RENTING.

[Vinny Lopes]

Hi BP community, I need some serious advise here in a situation in facing with two of my home flips.

I've been flipping houses for over 15 years, completed over 50 flips, a few years ago I decided to start buy and hold using the strategic (BRRRR), but I never stop flipping houses, even the profits on the flips is decreasing each year with the high competition when buying foreclosed properties.

Now I'm facing a situation where I have two houses on the market for sale (SFH), the properties are on the market for a couple months and we didn't have any offers yet, if I lower the price I might don't have any profits or maybe 10-20K. Now I'm thinking in renting this properties and refinance instead of sell cheap.

The numbers that I'm working follow below: 

House 1 - SFH 1480 sq ft (completely renovated, 3 bedrooms, 2 full baths, new kitchen and appliances)

Purchase price $85K, repairs $87K , ARV: $220K

SELL: If I sell deducting closing costs I will end up with $26K (before taxes)

vs

RENT: If I rent I can collect $2300 monthly ($27600/y), Tax and Insurance (7500/year), Repairs & Maintenance $950/y, If I refinance at 70% LTV monthly will be $850 ($10,200),

My monthly expenses including mortgage payment, tax, insurance and maintenance will be around $1554, and I'll be receiving monthly 2300, so I'll cashflow $746 monthly ($8952/year) 

House 2 - SFH 2360 sq ft (completely renovated, 4 bedrooms, 2 full baths, new kitchen and appliances)

Purchase price $135K, repairs $62K , ARV: $245K

SELL: If I sell deducting closing costs I will end up with $27K (before taxes)

vs

RENT: If I rent I can collect $2650 monthly ($31800/y), Tax and Insurance (8100/year), Repairs & Maintenance $1200/y, If I refinance at 70% LTV monthly will be $900 ($10,800/y)

My monthly expenses including mortgage payment, tax, insurance and maintenance will be around $1675, and I'll be receiving monthly 2650, so I'll cashflow $975 monthly ($11,700/year) 

Please Advise: Should I sell or rent this properties?

Looked at the numbers my conclusion is definitely rent in about 3 years those properties will be giving me 30K each.

Thank You.