First successful flip...what next?

[Mike Plitsch]

Hello all,

My name is Mike and I am new to BP but wanted to get opinions from some of the more seasoned investors out there. My wife and I have been getting involved with real estate for a little over a year now. Our success, as of now, has been fairly good. We own two rental incomes in Mobile, AL and are about to close on our first flip as well which is bringing in a good profit for a first time flip. We are also planning on moving to New Orleans within the next couple of months and are considering a duplex which we would live in (rent out the other unit to offset or completely cover the mortgage). We are an LLC holdings company and we likely be using some money from the flip for a down payment, but more important, will be redistributing money for estimated taxes, insurance, repairs on our current rentals in separate accounts.

Our business model revolves around the least amount of debt as possible (credit cards, mortgages, car payments etc.). So with that said, we are torn if whether another flip is the best route or continue driving towards more rental properties.

Thank you for any advice or suggestions!

R/

Mike