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Updated over 8 years ago on . Most recent reply

User Stats

81
Posts
19
Votes
Brittany Villamil
  • Houston, TX
19
Votes |
81
Posts

Should I flip or rent....please advise!!

Brittany Villamil
  • Houston, TX
Posted

I have a 2300 sq ft house under contract. Two story 4 B 2.5 BR ...not an open floor plan in anyway. 

PP: 146k

ARV: 215k

Rehab: Basic cosmetic only. (New roof, new ac and furnace.) 23k

I will need to use a hard money loan. I only have 30k cash. 

Should I flip vs buy and hold for one year?

OR

My primary residence is 1800sq ft 4B and 2BR open and airy floor plan. 

PP: $145k

Comps: $195-200k 

Rent rate: $1400 

I am crazy enough to sale this house OR rent it out and move into the house above. 

I don't know which option is best for me right now. 

If I flip the first house I mentioned, I HAVE to sale the house for 198k to break even. 

What would you do!?

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