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Updated over 10 years ago,
![Tyler Smiarowski's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/164073/1621420562-avatar-jetproperties.jpg?twic=v1/output=image/cover=128x128&v=2)
What's the best exit strategy on this flip?
Here are the stats:
2 bedroom 1 bath
906 sq feet
no garage, just shed.
roof, siding, furnace, a/c, water heater in good shape.
I can buy the house for 31.5k....ARV 60-65k...located in good lower income neighborhood. Needs $9500 in repair work.... I would be doing some of the work myself saving some costs.
Since it's a lower price home the profit margin isn't huge but it does meet the 70% rule. I was wondering if "rent to own" would be a better option for a home like this? I find rent to own very intriguing. Plan would be to list it for 60k...get a 5k or so down payment and have the buyer cash me out within two years. My total profit would be in the ball park of 18k.
I know this isn't a real detailed post but wanted to get people's opinion on my strategy. Thanks.