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Updated over 6 years ago,

User Stats

282
Posts
180
Votes
Tyler Bushey
  • Investor
  • Biddeford, ME
180
Votes |
282
Posts

BRRRR or flip? I cant decide!

Tyler Bushey
  • Investor
  • Biddeford, ME
Posted

I've got a house under contract and I can't decide whether to flip, or refi and hold as a rental.

Purchase price - $95k

Reno - $45000(estimated guess, meeting with my contractor tomorrow)

Loan costs - $15k

ARV - $215k

If I were to rent it, I think I could get $1600/mo.

Also has real good air bnb potential as it's in a very popular tourist town.

I'd love to hear opinions, I'm not sure which I'll do yet, but I feel I have a good opportunity in front of me!  Thanks in advance! 

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