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Updated over 7 years ago, 05/12/2017
Should I flip or rent....please advise!!
I have a 2300 sq ft house under contract. Two story 4 B 2.5 BR ...not an open floor plan in anyway.
PP: 146k
ARV: 215k
Rehab: Basic cosmetic only. (New roof, new ac and furnace.) 23k
I will need to use a hard money loan. I only have 30k cash.
Should I flip vs buy and hold for one year?
OR
My primary residence is 1800sq ft 4B and 2BR open and airy floor plan.
PP: $145k
Comps: $195-200k
Rent rate: $1400
I am crazy enough to sale this house OR rent it out and move into the house above.
I don't know which option is best for me right now.
If I flip the first house I mentioned, I HAVE to sale the house for 198k to break even.
What would you do!?