Which Deal is better? My First Investment

Question

Hi BP,

I have two possible options right now for a deal. I have listed my analysis from each below. This is my first deal altogether. I have the cash for either but am wondering if I should go with, more money out of pocket but better cashflow or way less money out of pocket with a great COCROI but less overall cashflow.

Hopefully I pasted the links correctly. This is from the BP calculators. I have gathered every number I can from my agent and hard money lender. I am in the process of ordering a rehab report for more accurate rehab figures.

Any insight you can shed on this will be great. Also if I have input something incorrectly please let me know.

Thanks BP!

These links are to the calculator analysis so hopefully I post them right as I was trying to post both here instead of just the one.

Laura Drive

https://www.biggerpockets.com/...

Summer Cove

https://www.biggerpockets.com/...

Monica Abeyta · Answer

Yes the Summer Cover is in a better neighborhood. I have a rehab estimate ordered for Summer Cove and am waiting on that. Should have it soon. Then I'll be able plug that in. The issue is these properties came up at the same time and I can only do one or another and not both. But yeah more solid rehab numbers would be super helpful for both. Hoping to get all that info soon.

Taylor L. · Answer

More certainty on those rehab figures would be good. A $10k projected rehab can easily get much bigger.

Is one or the other in a drastically better neighborhood?