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Updated about 8 years ago on . Most recent reply

Account Closed
  • Investor
  • Ridgefield, NJ
0
Votes |
19
Posts

Too aggressive or early to start flipping?

Account Closed
  • Investor
  • Ridgefield, NJ
Posted

I currently own a duplex in NJ which I am renting out half of unit and living on another unit. I am looking forward to do my next deal through either flipping ( buy fixer upper), purchase rental in low tax area, or buy a house through auction.  The thing is that it has only been 6 month since I bought my first property and I dont have 20% required for what most conventional, or hard money lender requires.

Would it still make sense to aggressively find a lender(or hard money lender ) or just wait until 20% is ready? I feel like I am losing out on lots of good deals especially when the interest rate began to go up. or am I too aggressive and taking on too much leverage?

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