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Updated over 10 years ago on . Most recent reply

Mike Cartmell's profile image
Mike Cartmell's profile image
Mike Cartmell
  • Residential Real Estate Broker
  • from Colorado Springs, Colorado
  • Member since Apr 16, 2008

User Stats

100
Posts
4
Votes
Mike Cartmell's profile image
Mike Cartmell's profile image
Mike Cartmell
  • Residential Real Estate Broker
  • from Colorado Springs, Colorado
  • Member since Apr 16, 2008
Mike Cartmell
  • Residential Real Estate Broker
  • Colorado Springs, CO
4
Votes |
100
Posts
Real Estate Deal Analysis & Advice

To Flip or Hold

Mike Cartmell
  • Residential Real Estate Broker
  • Colorado Springs, CO
Posted

I recently acquired a house for $70k and have put in $30k rehabbing everything except furnace.  New roof, windows, water heater, and complete interior rehab.

I can rent it for $1300/month and will refinance pulling all of my cash out for a 30 yr fixed PITI payment of around $650.

My questions is do these numbers make sense for a long term buy and hold or should I flip this with a sale price of around $155-160?

I am leaning towards holding this but just would like to hear everyone's opinion.  Thanks in advance.

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