SFR Options

[Doug B.]

Purchased -$58,900 ( under contract )

Flip

1. Reno - $25,000
2. ARV - $115,000 ( Real strong comps )

Net around $25,000 ( 90 days. Numbers on reno and value are vetted and safe)

Hold

1. Reno - $7,500 ( carpet / appliances / hw tank / minor misc.)
2. Rent Value - $950
3. This value $75,000 - $80,000
4. Value 4 years ? ( big unknown but odds after full blown reno $150,00 )

Initial deal is cash. If holding property would do 50% financed.

Would it be better to do the full reno up front and then way options as to selling / renting? Today the market is selling above what I have figured. Another 90 days could be different. Market as to renting we do have a shortage of homes. The renting side is secure for a while.