Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago on . Most recent reply

User Stats

6
Posts
2
Votes
Cordell Reynolds
  • Wylie, TX
2
Votes |
6
Posts

Live BRRRR or keep as rental

Cordell Reynolds
  • Wylie, TX
Posted

My father recently decided that being a landlord is not for him. He has a single property out of state that he has decided to gift to me.

The property has an ARV of approximately 180k and has a mortgage on it of approximately 118k. I'm considering 2 options:

1. Relocating my family to this lower cost of living area and continuing my current job. We would do a live in BRRRR. Taking advantage of lower interest rates for primary residents and lowering our housing expenses by approximately $800 per month.

2. Financing the needed repairs out of pocket and staying in our current location. This would net us approximately $150 per month but would allow us to stay in an area that my wife and kids really love.

What would you do?

Loading replies...