All Forum Posts by: SANDRA Hillhouse

Hoping someone can help. Flipped a house (gorgeous, made timeline, and close to on budget. Best schools great location. Because Of the insane appreciation in this area over past year, it’s taken an early and big hit - prices are down 24% since April. I bought oct 7 with flip financing. San Jose Ca. 

I have 1.29 in property. Priced at 1.299 (couple of low offers), dropped to 1.22 a month later with offer date. Lots of interest, 12 disclosed packets, great fb in house (except it’s small in lower end of sq ft in area)  no offers. If i have to reduce price to 1.18, should I sell and eat the loss or should I refi ti standard mortgage of 940,000 (4.5% interest) pay off first loan, and hold and rent? My mortgage including taxes insurance would be ~5500. Rent would be 3800. Would plan on keeping 7-10 years. Hard to say about appreciation but in this area over 10 years it runs on average in the 7-8% appreciation area (not basing off the last two years insanity). 

Seems like not great deal to buy it but I don’t want to lose the $140,000. 

Can you help me figure out how to figure this out??

Thank you!

Thank you Ryan. Very helpful. 

Hi. If doing a house flip and spitting profits 50/50 (money/rehab work), are the profits spit after subtracting capital gains tax or before? Thanks!  

Considering investing in $425K, 2/2, 1277 square feet free standing condo in Santa Fe, 9 min walk to Plaza. Bonus finished sunroom. Could sleep 6. Seems similar properties are renting in Airbnb for $175-250. Thoughts? Thx!