When should I start flipping?

[Sharaya Rutherford]

Hey everyone. I just got my first house and, of course, I have a mortgage on it. My mortgage is so new that it hasn't showed up on my credit report yet (at least not according to Credit Karma). I would like to start investing in real estate as soon as possible and I am really interested in doing this via house flipping. In order for me to buy yet another house, I would have to take out some sort of loan (my credit is pretty good so I was thinking of just going through my bank; the Hard Money Loans kind of scare me).

I guess I'm a bit fearful about borrowing another large sum of money. I read that my credit is going to take a bit of hit temporarily due to the new mortgage and I know that I will have to take out a loan to start flipping. I would like to start flipping as soon as possible, but would it be better for me to wait about a year before I take on another loan? If I want to borrow from my bank, wouldn't I need my credit to go back up? Am I confused in the way mortgages and loans affect your credit? Help!!

[Mark Brogan]

welcome to bp @Sharaya Rutherford

if rehab/flip is your calling then do 1 of three things 
find a partner to help fund the deal
market for a creative deal or 
just borrow the money like you said 
good luck