Bought our first flip.... now what?

[Dawn Crudup]

My husband and I bought a home, hoping to make it a live in flip for 2 yrs then sell it. This house was in way worst condition than what we thought, of course. We have decided to flip it but are having a hard time deciding how to finance. My husband is not really against hard money and I think that’s the best option right now. How else can we fund this flip other than credit cards? We know we have a good property because we received 2 offers from investors to buy the property from us for what we paid for it... but we are not dumb. We both work like crazy and we have a baby so we would do the work ourselves but we don’t have the time. We paid 275 and the house appraised for 297 with no work, so we def have equity. We just bought the property a month ago so we can’t refi or take out any equity yet. We need about 60k. We are lost!

[Bradford Clark]

If you can’t get 60k to use this project, then sell it and use the profit for the next project. It sounds like there is a good amount of interest on that property. There is an opportunity to make a good amount of money in a short amount of time. It may not be what you intended, but you made money the second you bought it undervalued