Flipping VS. BRRR???!!!
Hello All,
I wasted a portion of my day looking back on past deals and spread sheets instead of finding my next project...Long gone are the days of buying a POS like this for $46,000! (In my market at least.)
Seeing the current estimated values on some of these flips has been a gut punch. The home below: Bought 46k had 90k in repairs - Sold at 240k - Current Est Value is $350,000!!!
I have to admit, this is making me reconsider my fix and flip strategy. If I RRR'ed the smallest 3 of my flips over the past decade I'd have $675,000 in equity before even counting the rental income.
Looking back I had the mentality that I have to sell them to free up cash and keep moving but clearly I dropped the ball over the past 10 years.
Never should have sold the smaller deals, never should have watched the Big Short movie.
Are other flippers looking back at deals and coming to a similar conclusion?
