1st Deal in Pittsburgh long distance from California
Under contract on my first deal now what? BRRRR or Flip?
Here are the details; My intention was to BRRRR however I ended up with conventional financing and just wondering if it will still make sense due to closing costs?
Purchase Price: $45K SFR
Estimated Rehab: $30K
ARV: $120K
Cashflow after all expenses as well as setting funds aside for repairs, vacancy and cap-ex:
$275 per month
Given these numbers would I be better off Flipping? Or should I BRRRR possibly with a HELOC or a cash-out refi and just eat more closing costs?
Either way I’m excited to be under contract on my first investment and looking forward to learning the next few pieces!