first property houston texas

[Jerimiah Anderson]

Hi BP

Jerimiah here from Houston..Just financed my first home for 105k located in a well established neighborhood surrounded by homes valued from 114k-145k..the home I financed is built in 1979 3bed 2bath 1,700sqf no updates at all...what is the best way to go about this? fix it up add updates and hold it and rent it making no less than 400 dollars positive cash flow or fix it up and sale it for about 130k-140?

[Ben Hughes]

Definitely rent it out, that is not a "flipable" property. I think you may have overpaid a bit for it. Great job on the no money down though. If you can explain how you pulled that one off maybe someone can use that method in the future. I would replace whatever you have to, to get top rent if you can.

Would like to see your calculations for cashflow as well.