Updated over 7 years ago on . Most recent reply
My investment future
Currently I am living in a 50k home i bought for 14k a few years back.I have it paid off and I have an additional 40k to invest.
I made a short sale deal on a property 7mo ago that is finally looking like its going to happen. The purchase price will be 160k and the homes renovated value is between 210-220k. (4bd 2.5ba on 5 acres inside city limits)
My question is, should i do minimum repairs and rent the home out for around 1500mo (pay the morgage) or flip the home. With home values on the rise, i dont think now is the time to flip a home.
I am 28 and single with no kids. I dont need a house this large at this point but i would love to live there one day. Finally i would like to sell my current house and move to the other side of town. I could purchase a home on the otherside of town for around 90k in cash and live there.
what makes the most financial sense?