Updated over 3 years ago on . Most recent reply
BRRRR or FLIP? A Question?
Have a SFR deal I just acquired. Property picked up with 100% owner financing and very little work done so I am out of pocket maybe $5k total (closing costs plus the minor repairs)
OPTION A.) I can rent now (even with the higher rate the owner charging me) and cashflow about $150 a month. Then refi like a good BRRRR project in 6 months and cashflow goes up to about $500 a month. I would literally have all my money back out.
OPTION B.) I could easily sell this and walk away with 50-60k.
I don't really need the capital at this time, but just sound boarding off this great group to see what other ideas are out there...... 1031 into multifamily etc...