Closed on great priced property - Resell or Rehab?

7 Replies

Hmmm, $20k in profit without lifting a finger or spending any money or time or $35k in profit after spending months dealing with contractors, holding costs, unexpected hits to the original, underestimated budget, selling time, etc, etc. Look at it this way, you are increasing your expenses by 75% ($50k) to increase your profit (possibly) by 30%. ($15k). Not a good ROI.

Spend 1 month to make $20K or 4+ months to make $35K is really reducing your annualized returns.  Go and spend the other 3 months looking for another deal. That would be time better spent IMHO.