BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 3 years ago,
Sell or Hold - Any idea what rates are supposed to do?
I bought a cash property at a good discount that needed work - as a BRRR or Flip and it is nearing completion of its renovation. It is a SFH in an appreciating market, but the specific street/neighborhood is not ideal (some dilapidated houses, rough spots), however it would meet my cash flow metrics. The rising rates are causing me concern and I am looking for some guidance on what the general expectations on for how high and how quickly they will go? My plan is to attempt to sell the property now, and if I don't get the offers I am expecting, to refinance it into a rental. Does anyone think that rates will rise significantly in the 3-4 weeks it may take to sell? (Just in-case I do need to turn it into a rental.) It seems like a short enough time span to take the risk, but I don't have a concrete idea of what the rate expectations are.
Thanks