All Forum Posts by: George Sass

My thinking was very similar to yours. I do have the cash for another deal already so I don't need the quick cash. I guess really I'm trying to come up with criteria on how to decide when to hold and when to sell in the future. 

I have a house that I can't decide whether I want to hold or flip. I bought the house for 40k and I believe that if I sold it after renovating, I can earn approx. 25k after all expenses and closing costs. However, if I hold onto it, I can get approx. 1k/month in rent. I can see the positives for both options. My overall plan is to flip houses while slowly adding rentals to my portfolio to generate some passive income. Any advice? 

Welcome to BP Shemika! I am also a newbie and am interested in flipping houses in the area. I was looking into working on a wholesale deal earlier in the year and was warned by a fellow local investor that if you don't perform the wholesale deal properly, you can be breaking the law in Ohio. I don't know the specifics but I would recommend speaking with a local real estate attorney to determine the legality.

Also, I have gained a ton of information just by listening to the BP podcasts. I gained all of my networking contacts by joining the local REIA which is very affordable. If you need any contacts in the area, I'll gladly help you out.