New Member. Luis Soto from Paterson, NJ

[Luis Soto]

I am so excited to get started in flipping. I've been interested in it for years and I'm so glad I found Biggerpockets to help me get started.  Should I take out a loan from my credit union to pay off my cc bills and a down payment on a flip?

[Wes Woodhouse]

Welcome to BP @Luis Soto! I recommend starting by reading up on flipping in the forums and blog. J Scott wrote a great book on flipping that is available in the store. Armed with some knowledge you can come up with a gameplan and execute.

I personally would not take out a loan for the cc and a down payment. Work hard, pay off your credit card, and save up for the first down payment. You dont want to over leverage yourself especially on your first deal.