Updated over 5 years ago on . Most recent reply
What would you do if you were in this situation?
Hello everyone,
I recently purchased a property in Vero Beach, FL for $129,700. The neighbors across the street want to buy the property from me as-is for $145,000 for their parents.
The house is a 2006 and just needs some updating and new appliances (Est. $12k-$15k to fix). ARV after running multiple comps have me sitting at around $175k - $185k.
Selling cost for this would sit around $17,000 which would only leave us profit of $18,000 - $23,000 if we decided to rehab and flip
Profit for quick flip: $10,000
Profit for rehab and flip: $18,000 - $23,000
If you guys were in this situation what would you do? Would you take the quick buck and flip it as is with no realtor fees, or would you spend a couple months rehabbing the property to potentially flip for a slightly bigger profit?