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Updated 3 months ago on . Most recent reply

User Stats

59
Posts
11
Votes
Conte Cuttino
  • Rental Property Investor
11
Votes |
59
Posts

Leave 100k and rent or Flip for 30k

Conte Cuttino
  • Rental Property Investor
Posted

Property is in C+ area but in a different School district that’s B-

If I sale I’ll get 30k profit after 9 months.

If I keep as a Long term rental I’ll have to convert the garage into a illegal 1 bed cottage at an additional cost of $35k leaving a total of $107k left in this deal after 70% refi and closing cost.
NOI: $49,536

CoC ROI: 16.57% / CashFlow: $1488/mo

Pro forma cap: 8.26%

Purchase cap: 11.79%

Check out breakdown below 👇🏾

https://www.biggerpockets.com/analysis/rentals/6c76954e-deb6...

  • Conte Cuttino
  • Most Popular Reply

    User Stats

    2,737
    Posts
    1,698
    Votes
    Crystal Smith
    • Real Estate Broker
    • Chicago, IL
    1,698
    Votes |
    2,737
    Posts
    Crystal Smith
    • Real Estate Broker
    • Chicago, IL
    ModeratorReplied
    Quote from @Conte Cuttino:

    Property is in C+ area but in a different School district that’s B-

    If I sale I’ll get 30k profit after 9 months.

    If I keep as a Long term rental I’ll have to convert the garage into a illegal 1 bed cottage at an additional cost of $35k leaving a total of $107k left in this deal after 70% refi and closing cost.
    NOI: $49,536

    CoC ROI: 16.57% / CashFlow: $1488/mo

    Pro forma cap: 8.26%

    Purchase cap: 11.79%

    Check out breakdown below 👇🏾

    https://www.biggerpockets.com/analysis/rentals/6c76954e-deb6...


     If you have other money to grow your portfolio even with $107K left in the property then  hold the property.  If you'll be stuck in limbo unable to make another investment for a long time because the $107k is stuck in this deal then sell the property.    The purpose of any business is to grow.  if an investment stunts your growth then get out of the investment.

  • Crystal Smith
  • 3126817487
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