Renovate and resell, or renovate and rent

You've already bought this as an investment and have no business plan or investment strategy in place? Interesting way to manage one's financial portfolio.

I bough apple
Shorted gold
Long oil
Short euro

What should I do to make the most money?

alexie, you have many factors in your model

rent, ability to find renters, maintenance, insurance, managing the property when rented

Sale. Ability to sell and price you like.

I am sure you can find models on the web which will give the details of the calculations but inputs have to be your own.

Not sure anyone onthe board can give you any straight answers besides telling you do your homework. Hope you got a very good deal to have bought without thinking about various details.

It sounds like your property needs quite a bit of renovations since you mention that you need to renovate before you either rent or sell the property. Have many properties like yours sold recently in your area? Do you have an expectation that it will sell easily with some renovations done? Are most of the properties in your area subdivided or kept as one family homes? Have you ever been a landlord before and do you know what is involved? I agree that there are many unanswered factors you need to think about before undertaking this costly venture.

alexei
Chop the place into as many sections as you can. All the materials are available at Home Depot, the labor is in the parking lot. After you have carved 10-14 small units out have the same peeps that did the constrution let their friends know that you rent for cash on a weekly basis. Bone up on your spanish. Needless to say all the above work has to be done on the down low.
Now you have a cash generating business that really makes sense with none of the hassels of tax filings or pesky permits.