Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
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 over 9 years ago on . Most recent reply

User Stats

120
Posts
56
Votes
Amine E.
  • Investor
  • Edmond, OK
56
Votes |
120
Posts

Burnout Alert!!! House on fire. Rehab completed with Pics. Please help me choose a) b) or c)

Amine E.
  • Investor
  • Edmond, OK
Posted
Acquisition 37K  and rehab cost 55K. Total cost 92K. 4.5 months rehab

Please help me decide on Exit strategy. Should I :

a) Sell for 132K. Netting 20K after closing costs and capital gain taxes

b) Owner finance (Contract for Deed): 137K sale price,  20K down, 15 yrs, 9%, $1200 a month. (no escrow). Qualified buyer. I have a done a refi and pulled 72k (15yrs, 5.5%, pmt of $588). all the 20K down payment and I would have all my money back and cash flow about $610 for 15 years.

c) Rent for $1200

House is complete remodel. House is in a C class area. Not must appreciation over the last 5-10 yrs.

I have all options available to me which is a good problem to have. But still a problem to solve

Thanks PB nation.

Loading replies...