122k REFI at 7%

[Daniella Spears]

I just refinanced on a home to pretty much pay off my 13% HELOC and I will have 122k (after they pay off all my mortgages and HELOC). I would LOVE to buy another home at the end of they year and do a fix and flip in which I will live in it for 2 years before selling it, the only problem is 122k will not get me anything.

I could use the money to do a new construction near where I have one 460sq ft home that I would be able to build in that price range.  Though I would really prefer to do the first option.    Any I sights or ideas upon how to navigate the next step?   Thanks BP fam!!