i'm new in the community.
i read about some investing strategy but i want to ask you which one is better in my scenario.
I'm from italy, so some things about fees and taxes are different.
I bought my first house (apartment in a condo) (25% downpayment and 75% mortgage from the bank at 1.2%), i want to rehab it and i'm not sure about how to continue..do you think is better to rent it out or re-sell?
Maybe some numbers can help!?
price of the property: 160k
rehab cost: 50-60k
value of the property after rehab: 260-320k
i think a possible rent cost will be a little bit more of 1k/month, with normal contract, or 800-1600/month via airbnb (already with 4 years experience renting on Airbnb).
any suggestion about which strategy you think is better? and why?
thank you in advance and sorry for some english mistakes.
@Denz Po welcome to BP.
You don't give enough detail to be sure, but this doesn't seem like a particularly good deal for holding a s rental or for rehab and flip. Maybe things work differently in Italy but here those seen to be tight numbers. I think Air BNB is prob. the best but that is not something I am very familiar with.
Thank you for your reply.
Which details do you think is missing?
And why you think it’s not a good deal?
Thanks in advance, any reply will be appreciated.