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Updated almost 7 years ago on . Most recent reply

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Taylor Klepper
  • Hicksville, OH
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8
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Should I Flip or Should I BRRR?

Taylor Klepper
  • Hicksville, OH
Posted
In my first deal, I just closed on a 5 property purchase (4 single families and a 4 plex) and all of the properties have long term renters except 1 single family. The properties have been a part of a portfolio that has been grossly neglected over the years, and the rent reflects that. I am located in a small town just outside of Fort Wayne, IN. There is a large demand for rentals here in my town, but the supply is almost non existent and the current quality of rentals on the market is less than stellar (derelict houses rentIng for the 375-450/month). All this to say, there aren’t really any middle to high end properties are the market to rent. Which brings me to my actual question. The vacant single family needs a full rehab (which I have already done this to my own home) and I am wrestling with the strategy. Should I improve the property and use as a proof of concept to see if my market can handle a higher rent factor? Or should i flip the property and continue to roll the money into more properties and hopefully accelerate appreciation by improving the housing stock that is currently here? Thanks for your input! Taylor
  • Taylor Klepper
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