Next Step After First Flip?!

[William B.]

Hello All,

Good News:

After some minor setbacks, including an AC leak in the attic that ruined a 5'x4' section of my ceiling two days before we were supposed to list on MLS, my first flip in Houston hit the market! I received a great offer five days later. While we are still in the option period for a few more days, I have a good feeling that we will close with this buyer. After all hard money fees and normal closing costs, I should walk away with about $30k (before taxes). I'll have to speak with my accountant of course but I'm bracing for about 24% in taxes which would leave me with around $23k.

About Me:

I have been in commercial property management for most of my career (I did a quick stint as a Realtor when I first fell in love with RE), so I was well prepared for almost every curveball this process threw at me. With a portfolio sale that includes my properties set to close on July 1st, I will be stepping into REI full-time.

My dilemma:

While $20k+ every few months would be great as a side hustle, this will now become my full-time gig and I couldn't properly support my family with that income. So I need help coming up with strategies to reinvest my profit from this flip! I've been contemplating switching my focus to wholesale deals for the next six months to pad my bank account for more flips/buy & holds in 2020. I could also take the profit and roll it into another deal that doesn't need a major rehab (I'd be using hard money again).

How would you guys go about investing that $23k for maximum return?!