Would you Flip or use the BRRR if you were me?

[Jasmine B.]

Situation:  I purchased my first flip 2 weeks ago in the (Houston) Spring, Texas area. The numbers are below. I need some advice. Would you Flip or Hold in order to rent it out? (I used a hard money lender so I'd definitely re-fi if I decide to hold). My loan was in the amount of $188k @ 13% ($39k in Escrow for repairs) 

I stand to make $15k conservatively in profit if I flip. If I hold, I will have a great amount of equity and monthly cash flow.

Flip Numbers

Appraisal: $269,000

Acquisition Cost: 169,000

Repairs: 39,000

Holding Period: 3 months conservatively

Closing Cost at Sell for Retail: $2700

Rental Comps for the area are $2,100

Any other numbers you need to answer this question let me know :-) 

Thanks!

[Don Nelson]

@Jasmine B. - what's your after repair value (ARV)? You said you'd have equity. How much? Three months isn't much time for a flip unless you have bored contractors who only work on your project :). That's usually not the case. Estimating $15K for profit scares me. I would never buy a property expecting a return like that. All you need to do is find out a sewer line is broken and up to $10K of that is gone. Be careful - don't want to scare you, but from your numbers it sounds a little tight.

Can you fill me in on what it's worth after you're done?  Then I'll try to help...