Updated over 5 years ago on . Most recent reply
BRRRR Turns Into Tear Down
I'm a REI living in AZ that focuses on BRRRR in Atlanta. I recently purchased a property and ignored the advice of the inspector that suggested a structural engineer (long story). Now I've found out I need to scrape the house and rebuild. I'm $90,000 in on the property, estimates show $125/sqft to rebuild on the low end and comps come in around $250,000 for 1300-1500 sq ft homes. Looking for suggestions to on what to do. Sell now at a loss, rebuild and flip, BRRRR and leave a ton in the deal or negative cash flow or something else?
Most Popular Reply
@Randy Smith what does the zoning look like? Can something other than a single family be put on the land? Can you build a Multifamily that will allow you to cash flow or sell at a higher price point? Can the lot be subdivided into multiple lots and then sold at a profit ? If the highest and best use is a SFH and the land can't be subdivided into multiple lots to prepare for sell, them personally I think I'd sell and take the loss.