Going into a flip with an exit strategy of renting?

[John Cushing]

I have a property on my radar, has anyone gone into a property to flip it and ended up renting it out because it wouldn't sell? Could I possibly get a portfolio lender to lend the deal with that being the last resort exit strategy?

[Christopher Giannino]

I'm sure that some people here on BP have that as a potential exit strategy. Essentially, its basically the BRRRR strategy with the only difference being the amount of "upgrades" you end up making in the property. Typically, when BRRRRing you'll use more durable materials (like laminate flooring, formica counter tops, etc) because the intention is to rent it out versus when flipping you might put in higher level of materials (hardwood flooring, granite or quartz counter tops, etc) because you are trying to get top dollar. It has potential to be another exit strategy but always make sure you run your numbers both ways.