1st Deal in Pittsburgh long distance from California

[Kevin Wilson]

Under contract on my first deal now what? BRRRR or Flip?

Here are the details; My intention was to BRRRR however I ended up with conventional financing and just wondering if it will still make sense due to closing costs?

Purchase Price: $45K SFR

Estimated Rehab: $30K

ARV: $120K

Cashflow after all expenses as well as setting funds aside for repairs, vacancy and cap-ex:

$275 per month

Given these numbers would I be better off Flipping? Or should I BRRRR possibly with a HELOC or a cash-out refi and just eat more closing costs?

Either way I’m excited to be under contract on my first investment and looking forward to learning the next few pieces!

[Jim K.]

Originally posted by @Kevin Wilson:

Under contract on my first deal now what? BRRRR or Flip?

Here are the details; My intention was to BRRRR however I ended up with conventional financing and just wondering if it will still make sense due to closing costs?

Purchase Price: $45K SFR

Estimated Rehab: $30K

ARV: $120K

Cashflow after all expenses as well as setting funds aside for repairs, vacancy and cap-ex:

$275 per month

Given these numbers would I be better off Flipping? Or should I BRRRR possibly with a HELOC or a cash-out refi and just eat more closing costs?

Either way I’m excited to be under contract on my first investment and looking forward to learning the next few p

BRRRR. Oh, definitely! Congratulations on your success!