Updated almost 9 years ago on . Most recent reply
Flip or Rent ADVICE NEEDED
Okay guys and ladies. I'm investing into my first property in San Antonio TX. I need advice!! Okay here is the scenario:
I invested about 33k into my girlfriends parents house.
Out of my 401k which I pay 5% interest on.
They want 60k because they've let the house go
They are still paying 90k in taxes tho.
House built in 1960
I'm doing a brand new roof, adding a second bathroom,all new plumbing, electrical, and installed New AC.
Should I flip or rent?
Should I get the property out of the parents name?
Any advice welcome... thank you
Most Popular Reply
Im sorry but I just can't follow the question.
What is the house worth? What do they owe? Do they want $60 from you? do they still owe $90K in taxes?
i would not put money into repair anything until you know the end game and you own it.