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Updated over 10 years ago on . Most recent reply

User Stats

8
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2
Votes
Phil Park
Pro Member
  • Albany, NY
2
Votes |
8
Posts

Opportunity for a rehab, to hold and rent or flip after rehab?

Phil Park
Pro Member
  • Albany, NY
Posted

I have a opportunity to purchase a two unit home for 10-20k. This would be my first project that is real estate related. The average comps give me a 100k sale price give or take and each unit can be rented for $850-$1000 per unit. The rehab cost will be 40-60k because there was a fire in one of the units and that is why it is such a deal.

I'm wondering if I should hold on to this property after it is fixed up or sell it?

Also for financing, it is better to go with a hard money lender loan (ideal for a flip) or get a partner for this flip?

A good source or guideline when making a REI presentation to a investor?

Thanks in advance!

  • Phil Park
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