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Updated over 10 years ago,

User Stats

74
Posts
6
Votes
Trey Leigh
  • Real Estate Investor
  • Uvalde, TX
6
Votes |
74
Posts

What would you do with this?

Trey Leigh
  • Real Estate Investor
  • Uvalde, TX
Posted

My partner and I just bought our 5th SFR since starting here in 2011. We purchased it from a bank for 42000 intending to rent it at 800/mo which is very much possible based on our other homes. We put 5000 into rehab so we're all in for 47,000.00 appx. A realtor friend of mine thinks she can sell it quickly for 75-80K, deducting her commision and closing fees we would net about 20K, which is awesome, but our ultimate goal is to have 10+ properties for retirement income later on, and this house is in a great neighborhood near schools. Passing up a 20K profit though is hard to do, we could pay another property off with that, or reinvest. Ideas?

50% rule Cap rate is 10%

50% rule cash flow is 4800/year (We paid cash)

Also was approached today by a family that wants to do a lease/purchase on it until they can sell their other home, I know nothing about this so I referred them to our real estate agent to see if that is legal/possible/beneficial??

Thanks for any input

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