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Updated over 9 years ago,
Burnout Alert!!! House on fire. Rehab completed with Pics. Please help me choose a) b) or c)
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.