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Updated almost 8 years ago,
Should i consider BRRRR or Flip on this deal?
i found a home 2 bed 2 bath, 960sqf, garage, for 73k that needs some cosmetic work (interior & exterior) nearby homes go for 120k-150k. I have 7500$ which is 10% of the asking price
im not sure if my calculations are accurate, but i project if i rent it out for 800$
tax: 1217 / 101$ monthly
ARV: 110,000$
Rehab: 10,000$
Monthly expenses: 731$
cashflow 61$
what I'm trying to determine is, would this property be good to hold and rent out and refinance? or would flipping it make more sense? any pros and cons, i can compare from someone who's done this?