How would you invest in RE if in my position?

[Rebecca Jeffers]

Hello,

I'm new to BP and have already learned so much. Would like to share my situation in hopes of getting some considered advice.

Over the last 16 years I have purchased 5 fixer upper homes, lived in them for 2+ years and then sold for good profit. I am currently in the 5th home for coming on 5 years. I generally do quite a bit of the work myself and then contract out the rest. I have never bought just to flip but think I would enjoy it and be good at it. That said I am also now in my 50's and the hard work is not as easy as it used to be!

My situation is this:

I am not where I had hoped to be with retirement goals so would like to have a 10 year plan to get myself in a better position. I currently own outright the home I am living in. It is a beautiful and comfortable home and I could definitely stay here. $175,000 is good minimum estimate of what it would bring and I think it would sell very quickly. I also have another $40,000 in stocks that could be accessed to achieve goals. Current home was a foreclosure purchased at $124,000 and I have approx. $24,000 in it.

Should I sell home and use partial funds to purchase via conventional loan another fixer upper to live in and then sell it after 2 years and repeat cycle? Could then also use rest of money to purchase other flips or rental property. Or should I stay where I am and use my equity in the house plus my savings to borrow money for flips and/or income producing property? I would definitely like to have some passive income from rental property in my portfolio.

What would you do? I'm looking forward to the considered wisdom of this group.

Thank you - Rebecca