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Updated over 7 years ago,
What Would You Do In This Situation? (Investing Flip Profits!)
Good morning everyone,
I am currently in the middle of a live-in flip that is about 80% complete. Not much left to do as I am approaching 2 years living in this home. If I were to sell the property in April or May next year, I estimate a conservative profit of ~ $95,000 before realtor and closing fees. However, I could also stay in the renovated home and do a cash out refinance which would leave me with roughly $40,000 - $50,000 cash on the side to invest with. ($245,000 ARV - $150,000 (Mortgage) - 20% DP of ARV).
I am not a seasoned investor since this is only my first house flip. My question is what would you guys do if you were me? Stay in the house, take the re-fi cash + hard money to do another flip or cash out completely - go rent a house and use all the money to do another flip? I know there's gotta be some lucrative options that I am missing?
Best,
Ryan