Updated about 2 years ago on . Most recent reply
Buy first house. should we flip or house hack.
We just bought a house for 100k and after the assessment came in it was valued at 143k. It needs some work so I thought we wouldn't be getting that much equity right off the bat. knowing this I'm pretty sure we could we could renovate it and sell it for between 180 and 200k. We were planning to live in it for a couple years and turn a sunroom into an extra bedroom/bathroom and try and rent that out. Its pretty rural so i'm not sure that would work very well but at the worst we would just be adding another bedroom/bathroom.
should we just flip and try to find a new deal or two or should we hold onto this house and try and supplement the mortgage with house-hacking income?