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Updated over 9 years ago,

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.

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