Thinking about switching from BRRR to a flip. Remodel too nice.

[Robert S.]

Doing our first income property. As long as everything goes to plan I think our remodel will look amazing and I’m having doubts about renting it out and BRRRing the property.

Me and the wife are thinking about maybe putting it on the market for 30 days and see If we get a crazy price for it and if we can't get our number then renting it out. My carrying costs for the month would be like $250 max for insurance and HOA fee. And I guess the months rent.

Is that ok to do? I’m buddies with my real estate guy would just have him post it up and the other peoples agent can show the property so he won’t have to do much and if we don’t sell he’s going to find us the next one anyway.

Regardless what happens I already learned a lot but worst case scenario we make a good chunk of change worst case we rent it out and do a cash out refinance or what ever and do it again.

[Jon Thompson]

No harm in doing that. I've done the same. It's a good way to build capital. I've also held nicer rentals in the right areas and commanded higher rents with success as well. Just depends on availability of more properties in your area to invest in if you sell, and your overall goals as an investor. Depending on the area a nicely improved home may pull higher rents too, so keeping it could work as well. Just remember to factor all your numbers if you sell, agent fees, capital gains tax, property transfer tax, etc. Either way is a win, hence why we love real estate investing