Taking cash-offer and breaking even vs trying to sell on market
Hi BP,
I got a rental in Kansas City thats gone into serious disrepair. It's my only property in this market and I want to get out since its on the other side of the country. I'd like to get some opinions on 2 options I have. One is to take cash offer that will almost certainly be break-even. The other option is to put in some repairs ~$45k that would likely yield $20k-$30k after sale. I was considering the repair route, but I'm starting to reconsider due to age of house, plus the unknowns during rehab like potential mold or market softening. What are your thoughts?
Most Popular Reply
I would not spend $45K to gain $20K-$30k. To break even you need the yeild to be at least $45K