Updated over 5 years ago on . Most recent reply
Is it s good idea to do this?!?!?!
Hello BP,
So my wife and I are wanting to move into a slightly bigger house as we have out grown our current house. We found a house right down the road from our current house that is just the right size, but it will require a good amount of rehab.
My plan is to rent out my current home and move into this house do the rehab as I live in it. I should cash flow around 300 a month on my current home.
I did an analysis on the home requiring rehab and if I can get it for 95k, I would need to put about 50-60k into it. ARV looking to be around 190k.
My wife and I do have handyman skills so would be doing much of the work ourselves.
Has anyone done anything like this? Pros? Cons? Any advice would be helpful.
Thank you BP community!