Updated about 5 years ago on . Most recent reply
Help me analyze this deal
Made offer on first rental property. Off market deal, house is currently right next to my personal house. I got it for 150K needs about 5K in repair but value after repair is 200K. I have a renter right now who is begging me to finish the house ASAP after closing so she can move in. they will be paying 1500 per month. SE Michigan
Most Popular Reply
Buy and hold for sure! Flipping is not investing, it's a job! My biggest concern is that you don't understand your full capex. 5k of repair is not much. What will have to be replaced in the next 10 years? Kitchen? Bath? Roof? Driveway? HVAC? ...