Full Time Rehabber · Covina, CA · Member since 2012 · 28 posts · 22 votes
Curious of everyones thoughts. I purchased a property and am now being offered significantly higher then my PP as-is, without doing a thing to it. Question:
Would you rather make $50k in a couple of weeks or appx $85k (maybe/probably more) in 4-5 months (rehab and resale).
I'm not cash poor and don't have a ton of projects going on right now, but I always lean towards the quick money. I deem $50k is a lot of money. I won't have to deal with managing another project, budgets, contractors, time and building and safety depts..
Flipper · Atlanta, GA · Member since 2016 · 11 posts · 11 votes
10y
UNLESS you have rehabbed before, have a good team in place to make this happen quickly and know your holding costs would be very limited in time(i.e. the repaired home would sell quickly), I would definitely take the $50K now-- you could then leverage that for several future deals...rehab involves higher risks like new inspectors, subs not showing up, more of your time, etc. Sounds like you have a win win either way! Best of luck.