Currently fix and flip but debating

[Ava Petruso]

I am a new investor and currently 5 weeks into a rehab and my FIRST deal! I've been dreaming of this for 8 years! I have been a high volume realtor for 8 years, worked with a lot of investors and have been waiting to get into investing. The property I bought was a referral from a past client and a deal I could not pass up. Not to mention it's 3 miles from my house in the suburbs. My sister and I bought the property from the seller as a fix and flip which is still the current plan. But I am so intrigued with the BRRRR method just not sure this is the one for that. So I wanted to ask y'all's opinion. My long term investing goals are to build a portfolio and continue investing with my husband after this project. Here are a few facts on the buy.

1. Purchased the property cash for $345,500.

2. ARV is $625,000

3. Rehab our goal is $100,000 but budgeted $120,000 because it’s a full gut.

4. We are doing a lot of the work ourselves and have a very reliable contractor for the things we can’t do.

5. Rent in this specific area is anywhere from $3500-$4000/mn

If we fix and flip we would walk away with a good amount of equity that I would plan on reinvesting, my sister would keep her portion. If we did the BRRRR method, I would buy her out and own the property but after paying back our hard lender, I'm just not sure it would be a good investment for me. Because I want to continue investing, avoiding paying the personal gains is what my mind is occupied with.

Assuming everything is split 50/50 what are your thoughts on taking the cash and reinvesting or working the BRRRR method.

I know that was a lot. Thanks for your help! Let me know if you need info. First time posting in here! Very excited to sift through these forums!

Ava Petruso