Leave 100k and rent or Flip for 30k
Property is in C+ area but in a different School district that’s B-
If I sale I’ll get 30k profit after 9 months.
If I keep as a Long term rental I’ll have to convert the garage into a illegal 1 bed cottage at an additional cost of $35k leaving a total of $107k left in this deal after 70% refi and closing cost.
NOI: $49,536
CoC ROI: 16.57% / CashFlow: $1488/mo
Pro forma cap: 8.26%
Purchase cap: 11.79%
https://www.biggerpockets.com/analysis/rentals/6c76954e-deb6...
Most Popular Reply
If you have other money to grow your portfolio even with $107K left in the property then hold the property. If you'll be stuck in limbo unable to make another investment for a long time because the $107k is stuck in this deal then sell the property. The purpose of any business is to grow. if an investment stunts your growth then get out of the investment.