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Updated over 7 years ago,

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2
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0
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Zack Ross
  • Oakley, CA
0
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2
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Interested in flipping with no expierence in California

Zack Ross
  • Oakley, CA
Posted

HI everyone,

My Goal for next year is to flip at least one house and my mind has been scrambled with questions. First I understand I need to get my finances in order before I even start looking at houses so I dont have a ton saved up but I do have over $100k in equity in my house. Is it wise to use that equity for investment purposes like house flipping? If so should I get a home equity line of credit or refinance my house? and by doing so will it effect my credit making it more difficult to get a loan for the investment property? Should I have a loan lined up before I start making offers? What type of loan would work best for me with my first purchase and what should I have to present it to the banks when applying for the loan? Any advice for a way newbie in starting out in real estate? I know its a lot of questions, im just  trying to get as much info as I can before pulling the trigger. Thanks for the help.

Zack